Although some industry insiders are still choosing to blame increasingly stringent mortgage criteria, the present unfavorable state of the housing market has not been caused by one individual factor alone. In fact, many different factors have contributed to the current circumstances, ranging from a lack of buyer confidence, cautious mortgage lenders and limited lending to a supply-demand imbalance, out of hand inflation and job insecurity.
Sadly, 2012 does not look as though it will deliver much in the way of improvement. Indeed, The Council of Mortgage Lenders (CLA) is suggesting that the situation could become even worse and that banks may well find it harder to lend. As a consequence, this means that properties are likely to remain on the market for longer and that asking prices are destined to fall.
However, all of you homeowners out there will be pleased to hear that it is not all doom and gloom.Indeed, innovative companies like Sell or Yell can enable you to sell your home quickly and easily as they purchase properties using their own cash funds rather than relying on mortgages or investors. In fact, these services can prove to be something of a Godsend as they enable you as a seller to completely do away with all of the worry, hassle and unpredictability of trying to facilitate a sale on the open market.