2 Bedroom Unfurnished House. Facing delightful Village Green, 10 mins from A1. Double Glazed. Renovated to a high standard. Available NOW for a monthly rental of £475. (HOD01)
FAIRLETS
RENTAL AND MANAGEMENT
COMPANY
10 NEWBIGGIN, RICHMOND, NORTH YORKSHIRE, DL10 4DT
TEL: 01748-826755 FAX: 01748-824023
WEBSITE: www.fairlets.com
EMAIL: willie@fairlets.fsbusiness.co.uk
PROPRIETOR: WILLIE GILES
PROPERTIES AVAILABLE TO RENT
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2 Bedroom (one en-suite) converted barn in Dalton. Oil central heating and Double Glazing. Easy access to A66. Delightful Garden. Available now for a monthly rental of £600. (ORO33) |
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2 Bedroom Unfurnished House. Facing delightful Village Green, 10 mins from A1. Double Glazed. Renovated to a high standard. Available NOW for a monthly rental of £475. (HOD01)
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3 Bedroom Unfurnished House. Gas Central Heating and Double Glazing. Delightful Beam features. Available 7th April 2008 for a monthly rental of £595. (FRE01) |
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3 Bedroom Unfurnished Stone built cottage. Gas Central Heating and Double Glazing. Delightful Garden with Patio. Available End of March for a monthly rental of £625. (JOH01) |
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2 Bedroom Unfurnished terraced house. Gas Central Heating and Double Glazing. 1 En-suite and Back Yard. Available May for a monthly rental of £395. (GIL01) |
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3 Bedroom Unfurnished House. Facing delightful Village Green, 10 mins from A1. Double Glazed, GCH and wood burner in lounge. Renovated to a high standard. Available NOW for a monthly rental of £625. (HOD02) |
PROPERTIES FOR SALE
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3 Bedroom Detached House in Scotton. Double Glazing, GCH with Garden to Front and Rear. Offers in region of 172,000. (Buck) |
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3 Bedroom Semi Detached House in Catterick Village. Double Glazing, GCH with Garden to Front and Rear. Offers in region of £169,950. (Nicholas) |
EDITORIALS
06/09/07
If you are finding it hard to sell your home, then you should consider the option of Rental and when you start thinking Rental, include Fairlets in your calculations.
Why is it becoming harder to sell? Because in America, unscrupulous salesmen in the Housing Market have sold “tickler” short-term mortgages to people who cannot now afford to repay the mortgage as the realistic current rates kick-in. These so-called sub-prime mortgages have been packaged and sold to banks around the world and are worth a fraction of their face-value. Potential losses world-wide are huge and are reflected in the stock-market panic that has been seen in the last month.
The result of these losses is a slide in house prices that is particularly evidenced in USA, but which has already hit the huge Spanish Building programme and which will have a profound impact on the rest of Europe and of course, the UK.
Far from accepting that the poison should be cleared from the system, Governments worldwide are afraid of a recession following a liquidity crisis. To prevent this happening, they see the need to inject liquidity back into the financial markets and are being strongly pressured to drop interest rates. This may or may not produce an orderly transition back to normality, but at the very least the ineptitude of the US House-Lending policy will have to be paid for, not just with lower house prices, but with higher financial and mortgage costs, particularly for the penalised first time buyers.
All this is happening when House Sellers have to pay for selling packages, typically costing some £400.00 and this cost kicks in for those selling 3 bedroom houses on the 10th September.
And so selling is going to be harder and no-one said that Rental was always a piece of cake, but if you would like to discuss the possibility of rental then give Willie Giles a call for a no-obligation meeting that will set out all the pros and cons of the Rental Market.
27/09/07
Following on from my article last fortnight matters have now moved on with the collapse and rescue of Northern Rock and the dropping of US rates by a full half percentage point. This is a move almost certain to be imitated by The Bank of England who will try to justify a half percent drop by using current inflation figures. However the real reason in both these countries and the world generally is the fear of recession. Lower rates can only help the falling prices in the housing market, but I feel that they will not be sufficient to save the millions of sub-prime home owners who are now facing dramatically higher repayments.
Two things are likely, firstly that the poor and sub-prime candidates will no longer have a foothold on the housing market thereby increasing the divide between rich and poor. Equally with a housing market that is not growing at break neck speed but is actually declining, we no longer have an engine to fuel consumption and the Western World will be buying less than the house-price bubble years of the 1980s, 90’s and early 2000’s.
Herein lies a strange dichotomy. As China flexes its economic muscles and produces more and more goods, the cost of shipping freight is soaring with insufficient space to carry the goods that are being produced. And so what will the world leaders make of that? Huge production from China and India with no one in the Western world to buy it. Clearly it will be in China and America’s interest to revive the housing market in the USA as quickly as possible so that consumption can return and the odious business of constant economic growth pursued again.
LET’S RETURN TO SANITY: lower house prices and a slower selling market do tip the balance from people who cannot sell moving to the rental market. In this current climate, rental is a very live prospect and whilst nobody would say that rental is easy, at Fairlets we have the expertise to quickly rent your property at the best possible price and to retain your asset in its best possible condition.
W F GILES, BA (Econ)