2007 A year of change with prices rising and then steadying and I am afraid that 2008 could be a very worrying time for many. Besides being a relocation agent I am also a Chartered Surveyor. In this capacity I do some valuation work for one of the largest and best known national agents. They act for clients who have a portfolio of properties all over the country. I recently found myself in the invidious position in having to value quite a number of properties well below the price paid for them about two years ago. I have also heard that repossessions are on the horizon, something I wished I would never hear of again, after the experience of the 1990’s. I have never been able to understand why the financial institutions keep putting up the multipliers to the detriment of the mortgagors. When my wife and I married we could not borrow on yours wife’s income. Consequently the multiplier was 2.75 of the husband’s income. When the boom came in 1972 Building Societies started to increase the multiplier and one Society lent around 4 times. Not long afterwards, in fact the same year, the first real property crash in my lifetime came and mortgagors paid the price. Of course latter in the 70’s the wife’s income was considered. Consequently this gave higher borrowing powers and in turn created an increase in prices. Ever since this has continued and it was not long ago, that I read of a financial institution offering 5 times gross income fuelling prices to go up and up. In addition the buy to rent market came to life and this along with the high multipliers is why there is very little at the lower end of the market, for the first time buyer. I often think that if the Societies had stuck to their guns and kept at say 3 times income we would not have had the price explosion in the property market. I would also recall that interest rates have been as high as 15%, not 5% or 6% as they have been in this century. Having seen what has happened to many of the “buy to let” people who have caught a cold, I have always been very cautious as to what I have advised such clients to buy. Where to buy and what to buy is important. Buying in a block of flats is not necessarily a good idea. In some of these blocks there can be as many as 40 buy to let owners. This effects the both the letting and selling market. I can only see 2008 being a very worrying year for many people and good advice and assistance from a properly qualified Chartered Surveyor and Relocation Agent could be invaluable and possibly in the long run inexpensive. Written by Michael Chandler FRICS.

2006 Having been in the property business firstly in Buckinghamshire and then Hampshire, Dorset, Wiltshire and Somerset I was always concerned at the continuing rise in property prices. I can remember when I first came to Salisbury in 1974 when prices were beginning to fall. Owners were not too pleased with Estate Agents as they were bearers of bad news. I distinctly remember going to see a house near Andover, where quite obviously the owner was in financial difficulties and was looking for me or another Estate Agent to help him by coming up with a high valuation. This would either get the bank off his back by showing them how much equity he had, or allow him to sell at a profit and clear the debt. I don’t really know the full outcome but I did learn that the house was sold, several months later for even less than I had suggested. Buying property carries the same health warning as shares “its value can always go up as well as down”. It is because of this reason that I enjoy the side of the business which I am in now. Years ago when in Estate Agency, my job was to get the best possible price for my clients who were the sellers. Now besides finding the client the right house I consider that it is important that they don’t pay too much. Many of my clients have said to me that they were glad that I was doing the negotiations, because they were out of their depth. It is not always possible to argue about the price, particularly in a buoyant market. But sometimes it is and it is experience which tells you when. For example after a poor survey I have often renegotiated the price, knowing as a surveyor that most vendors will listen and be prepared to renegotiate. My job is like most professionals, in giving value for money and enjoying what one is doing. It is not about a quick and fat fee, but about pleasing a client who willingly pays your fee and will recommend you as well. Written by Michael Chandler FRICS.

2005 Having been in the property business all my life, clients, friends and business associates regularly ring me for my thoughts. This week I have been asked my advice on which agents to instruct to sell a property and who would be a contact to do surveys for a London company who have a large portfolio of properties they own in Wiltshire. I feel that a firm should be recommended which has professional integrity. A good firm will be associated with a governing body with rules, regulations and a code of practice. I am a member of the Royal Institution of Chartered Surveyors and a Full Member of the Association of Relocation Agents. I remember years ago, when I was with Fox & Sons, my senior partner insisted that I finish my qualifications as he would not take anyone into the partnership who was unqualified. He prided himself in calling his firm Chartered Surveyors, Chartered Auctioneers and Estate Agents as he felt it told the public that we were "Professionals" In addition to Professionalism, seek a company with a good track record who will have overall market knowledge and be sure that you can develop a business like but amiable relationship with the people. I read recently "Remember the best agent is not always the one who advises you of the highest price". Some agents can be out of their depth with certain types of property and excellent with other areas. However the thought of a "big commission" can sometimes go to their heads. It is important to get a feed back as to how things are going. I try to talk with my clients regularly and keep them posted with what has come to the market and what is happening. Similarly the selling agent should be updating their clients with "feed back" from any viewings and perhaps discuss alternative selling procedures. When thinking of selling or even using a buying agent make sure you know clearly what it is all going to cost. It can be months later when the bill arrives. Is "No Sale", "No Fee"? Are you expected to pay for marketing costs? My wife, who works with me, pointed out the other day that some buying agents expect you to pay them even if they don't find the property and that in one instance this could even be a year later after they have stopped looking for their client. Personally I believe in "fair play", if you think a firm has worked hard and it is you who have "changed the rules", causing them to spend money unnecessarily, a token payment would not go amiss. I remember a lady did this, sending me a cheque for Christmas as she had changed her area of search and then she sent me another cheque, as her son had told her she should! A very nice gesture which encourages one to treat people as you would like to be treated yourself, or as a friend said to me the other day on the golf course, you watch my golf ball and I'll watch yours. Another factor a seller should consider is the Contract, are you committing yourself to a Multiple Agency, Sole Agency or even Sole Selling Rights. Currently I am seeking a Bed and Breakfast Business for clients and I am dealing with Specialist Agents who often have their own "Fee Rules". This leads me to remind you that experience cannot be beaten. I am comfortable with what I do; I have qualified as a Chartered Surveyor, sold hundreds of houses in my time and dealt with commercial properties. I have surveyed properties and acted on many other professional aspects for different clients. It is not a game or an easy way to earn money. I enjoy working for my clients and finding as near to the ideal house on their budget as possible. Helping young first time buyers, or those with physical disabilities can be most rewarding, as I hope to have "opened a door" which will be a constant delight to them. Written by Michael Chandler FRICS.

June 2004 Who do you believe? Some pundits will tell you that the market is heading for a slump and another will say that prices are booming. At the end of the day there has hardly ever been a wrong time to buy unless you are simply speculating. The bungalow I bought in 1965 for £4,000 is probably worth £200,000 today and the house I built for about £27,500 in 1974 could probably easily be priced the equivalent of having a "0" on the end and doubling it. I cannot see any other investment inflate like that and be tax free. When I have found properties for clients invariably one of the first things they say to me is aren't we glad we wasted your time looking in stead of ours. I went to Wells yesterday, 150 miles there and back, as soon as I arrived I knew that whilst the property was very nice, it was not right for my clients. Sometimes I have been the first to turn up at a house and know immediately that it is the answer. My clients know that I have a feel for what they want and they have been prepared to dropped everything and come, ultimately to their delight. So far this year I have experienced both. One of the comments below is from a client who is still in India and hasn't even seen the house that he is coming home to. This is the third time that clients have trusted in my judgement, the result of a personal service. "As expressed in my recent E-mail, we have really appreciated the manner in which you have carefully guided us through a very tricky stage in our lives. We shall be very happy to recommend your services to any who should ask". June '04. "Thank you so very much for all your help in finding and purchasing Granary Cottage for us. We are so glad we found you. Both of you have been absolutely great and you have taken all the stress out of the process of finding and buying the property." May '04. Written by Michael Chandler FRICS.

January 2004 2003 was an interesting year with involvement in both corporate work and private purchasing and lettings. We found properties in Wiltshire, Hampshire, Somerset and Dorset and are currently seeking in all these counties and also in Bath. When speaking with the agents, they all seem to be optimistic as to the year ahead and confident that there is likely to be a continual rise in property prices. I have to concur with this attitude at the moment, certainly whilst the interest rates are low. Should this change significantly or should the Chancellor decide to raise Stamp Duty again then this could alter the situation. Our clients have had confidence in the market. In addition to finding principal homes, we have also been asked to find second homes, holiday lets and buy to let propositions. We had the great pleasure, prior to Christmas, of helping a young couple purchase their first home in North Wiltshire and received a joyous New Year's card. Apparently they and their young family are delighted with their purchase and enjoying their new surroundings. We were also pleased to purchase a house in Dorset to enable clients to spend more of their free time scuba diving. Other clients were eager to be able to ride and walk in the lovely Dorset countryside away from the stress of London. A golfing enthusiast was pleased with her purchase just outside Salisbury and a Gibraltarian left it entirely to us to find himself and his wife a property to rent in North Wiltshire. They came straight over and moved in, complete with dog, to be nearer to their family. Undoubtedly both Dorset and Wiltshire have continued in popularity. The convenience to the motorways and the excellent facilities that they provide certainly make this part of the world a sought after place to live. We have generally been very fortunate at the excellent service that we have received from the agents, often we have been "first in the door" when new instructions have been obtained, a recognition that our clients mean business. Currently we are working for clients abroad, from London, the North of England and also locally as they just do not have the time. Often they would rather that we take the hassle out of the search and they are also able to use our expertise should ancillary problems arise. Written by Michael Chandler FRICS. Testimonial “Just a note to wish you well for the New Year and to say a heartfelt “thank you” for your help in finding our house. We are still living in chaos, but it is a happy chaos. I am happy to enclose a cheque for your fee and wouldn’t hesitate to recommend you to our friends.”

September 2003 I was interested to read that one of the independent agents, Paul Jeffery's of Hythe near Southampton, felt that, "Summer almost over, evenings drawing in, but still plenty of life in the property market, however, very different from this time last year." He goes on to suggest that there are many more properties for sale, therefore far more competition if you are selling. At this time last year there were signs that the market was cooling and some offers less than the asking price were being made, as homes were often taking longer to sell. Now a year on, most purchasers expect to see a reduction from the asking price to the agreed price. The "buy to let" investors are returning, a sign that the market is levelling or even dipping and owners need to be more realistic on pricing with expectations of possible further falls. From my own standpoint, I am certainly conscious that the same properties are appearing time and again on the advertisement pages and there may even have been a change of agent, or better still a reduction in the asking price. As far as negotiations are concerned, I think this depends on the property and of course whether it was sensibly priced in the first place. I recently bought a house for a London client and had to make it quite clear that in my view the price was reasonable and we should go with it, rather than risk losing it. It so happened that it was local to my home and I knew that the popularity of the area would be sustained due to its position. Through my contacts my client had the first chance to buy before the property appeared on the open market. As it happened I knew that there were others who would have been exceedingly interested, if given the opportunity. I do think that the first time buyer, who has been pushed to the limit in recent times, largely influences the present change. When they are unable to meet the asking prices the rest of the market needs to stop and think. At the moment there are some very expensive houses available which have been around for quite some while and could easily still be for sale in the spring? Written by Michael Chandler FRICS.