What are the options for anyone looking to sell their property?
Traditional Estate Agent route - expensive and VERY slow Online Estate Agent - less expensive but still slow Property auction - fast but price not guaranteed to reach reserve, still have to pay auction house fees and VAT Sell to a buyer who specializes in purchasing property for cash - slightly below market value but VERY fast DIY private house sale - a fast option that could save you £000s So, how do you go about selling your house privately?
This might sound like a scary alternative but with the advent of the Internet it really is a viable alternative to the snail-like High Street option and is gathering popularity amongst house-sellers fed up of being charged £000s for selling their properties. We often forget that Estate Agents are unregulated salesmen with no professional valuation training other than an inside knowledge of what other properties on their books have sold for. The only true professionals involved in the house buying and selling process are the surveyor and conveyancing solicitor.
There are just 4 easy steps to making a private house sale:
PRICING.
There are websites available where you can check the actual selling prices of properties in your area (rather than the over-inflated estimates dreamt up by untrained agents). These will give you a much more accurate idea of what your property is worth. Depending on how quickly you wish to sell should influence how much above or below this figure you are willing to set your price at. Bear in mind that a potential buyer may wish to negotiate you down on the advertised price so don’t pitch it at your absolute minimum, as this will leave you no room for manoeuvre.
ADVERTISING.
Online advertising fees are much more reasonable than those of commission-based Estate Agents and websites that advertise your property have clear itemised lists of added extras you can purchase if you so desire but these are not always necessary.
HIP.
Any property sold on the open market must have a Home Information Pack, which will cost around £350 and can be commissioned independently.
DETAILS.
All you need is a digital camera and a reasonable eye for a good photo. You need around 6-10 decent pictures of the front of the house, garden and key rooms plus accurate internal measurements. For a small additional cost, online property advertising sites will also provide a customised For Sale sign, as these are great for generating interest from local buyers. You can get your property details online in a fraction of the time it takes an Estate Agent to start advertising. If you really don’t feel up to trying this alternative why not consider a quick cash sale to a company that specializes in this market. They can complete within 4 weeks of your initial enquiry and provide the peace of mind of a guaranteed property sale (no pulling out at the last moment and no broken chains). When you consider that Estate Agents over-value properties by between 5%-15% and you may have to reduce your price to slightly below the surveyors valuation to secure a quick sale this option doesn’t sound quite as bad as you might first imagine. If you also factor in the benefits of a free valuation by an independent surveyor, free legal fees and no requirement for a Home Information Pack plus completion in around 4 weeks Sell-My-House-Fast could be THE quick and economical solution to your current financial difficulties.
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Tuesday, February 26, 2008
STOCK MARKET STRATEGIES DECISIONS
Initiate TradeThe trading strategy begins with leading off by placing a position in anticipation that the possible Head & Shoulders Bottom will be activated. This is a vertical bull call spread. Lower strike calls are purchased and higher strike calls are sold. An approximate upside measuring objective can be obtained at this time. This would imply placing a vertical bull call spread with the highest strike at the measuring objective. It is suggested, however, that the closest out-of the-money calls be purchased and the calls one strike higher be sold. This is for liquidity considerations in anticipation of follow-up action when the neckline is penetrated.
The next lower level in the decision tree shows the two most distinct price moves that could occur a rally or a sell off. The market also could move sideways or experience myriad other price gyrations.
Valid Breakout
A close above the neckline on a noticeable increase in volume officially activates the H&S Bottom, This allows the technician to construct the specific upside measuring objective. It is also the time to make any trading strategy more directionally aggressive. For a vertical bull call spread, one-half of the losing leg should be liquidated. This means buying back covering one half of the higher strike calls that were sold short.
It is of almost importance for any trader to have a defined risk parameter. For classical bar chartists, this is usually straightforward. Assuming there was no possible second left shoulder on the chart, the technician would not expect the low of the right shoulder to be taken out. Thus, the bullish outlook would not seriously deteriorate unless a sell off to below the right shoulder occurred. Stop-loss orders in the options themselves are not usually recommended. A mental stop in the underlying instrument is the preferred approach. This means, of course, that a trader must possess the discipline to exit from a losing options position if the technical aspects of the underlying instrument begin breaking down.
Failure
Any Head & Shoulders formation is destroyed when the extreme of the head is violated, even intra day. Any bull strategy must be abandoned. The entire vertical bull spread should be liquidated.
Making a new price low affirms that the direction of the major trend remains downward. It does not automatically create a specific downside measuring objective. Therefore, it is never advisable to liquidate the long calls and stay with the short calls of the vertical spread. The position would turn into one of unlimited risk. It is far better to exit from a losing position and look for another more clear-cut technical situation.
Objective Met
When any classical bar charting measuring objective is met, it is prudent to realize at least some profits. In the case of the Head & Shoulders formation, profits on one-quarter to one-half of the position should be taken. Why only 25 percent? An H&S measuring objective is a minimum target. Although no specific maximum objective can be calculated, quotes often move far beyond the minimum objective. A trader should try to follow the old adage of cutting losses and letting profits run. This is what is being done in removing only a portion of the winning trade. The decision to exit from the remaining open positions should be based on usual support/resistance and volume/open interest considerations.
Fullback
In the long run, the most optimal path through the decision tree would flow. A price sell-off on declining volume back to the neckline would prompt removal of any remaining bearish positions. All short calls should be covered. The resulting position is simply long call options. Note that this is the technical situation in the options strategy matrix that results in the long call strategy.
Objective Met
A trader should begin to take partial profits when an objective is achieved. Removing 25 to 50 percent of all bullish positions is suggested. But this is, as economists are wont to say, all other things beingequal. This is not usually the case. For example, if the underlying instrument is a futures contract, open interest changes become important. In a futures contract, open interest declining as a price target is being achieved is a warning signal. The percentage of profitable positions removed would move up to 75 percent.
In general, protective mental sell-stops in the underlying instrument would follow the market up moving in fits and starts depending upon where support formed on the chart.
Symmetry Destroyed
If quotes move below the right shoulder low, the symmetry of the Head & Shoulders Bottom is destroyed. This does not automatically invalidate the pattern. The pattern is destroyed if the low of the head is taken out. But a trader must begin to mitigate the loss of the long call position. Removing approximately one-half of the long calls would accomplish this.
Another Chance
Since the Head & Shoulders Bottom remains valid, the original upside measuring objective is intact. A bullish stance should be held unless the low of this second pullback is taken out. The decision to add to bull positions is tricky. A close above the neckline once again would certainly revive the bullish look of the chart. Aggressive traders can then look to increase a bullish bias possibly with outright longs in the underlying instrument rather than long calls.
Pattern DestroyedThe worst path through the decision tree culminates, the H&S pattern has failed. Although the H&S formation is usually highly reliable, it does fail in up to 20 percent of the cases. If enough premium is remaining in the long call options, they can be liquidated. If so little premium remains, they can be held rather than paying commissions. May be the trader will get lucky and a price rally will occur. But a trader who uses the words luck or hope is in a terrible situation.
The next lower level in the decision tree shows the two most distinct price moves that could occur a rally or a sell off. The market also could move sideways or experience myriad other price gyrations.
Valid Breakout
A close above the neckline on a noticeable increase in volume officially activates the H&S Bottom, This allows the technician to construct the specific upside measuring objective. It is also the time to make any trading strategy more directionally aggressive. For a vertical bull call spread, one-half of the losing leg should be liquidated. This means buying back covering one half of the higher strike calls that were sold short.
It is of almost importance for any trader to have a defined risk parameter. For classical bar chartists, this is usually straightforward. Assuming there was no possible second left shoulder on the chart, the technician would not expect the low of the right shoulder to be taken out. Thus, the bullish outlook would not seriously deteriorate unless a sell off to below the right shoulder occurred. Stop-loss orders in the options themselves are not usually recommended. A mental stop in the underlying instrument is the preferred approach. This means, of course, that a trader must possess the discipline to exit from a losing options position if the technical aspects of the underlying instrument begin breaking down.
Failure
Any Head & Shoulders formation is destroyed when the extreme of the head is violated, even intra day. Any bull strategy must be abandoned. The entire vertical bull spread should be liquidated.
Making a new price low affirms that the direction of the major trend remains downward. It does not automatically create a specific downside measuring objective. Therefore, it is never advisable to liquidate the long calls and stay with the short calls of the vertical spread. The position would turn into one of unlimited risk. It is far better to exit from a losing position and look for another more clear-cut technical situation.
Objective Met
When any classical bar charting measuring objective is met, it is prudent to realize at least some profits. In the case of the Head & Shoulders formation, profits on one-quarter to one-half of the position should be taken. Why only 25 percent? An H&S measuring objective is a minimum target. Although no specific maximum objective can be calculated, quotes often move far beyond the minimum objective. A trader should try to follow the old adage of cutting losses and letting profits run. This is what is being done in removing only a portion of the winning trade. The decision to exit from the remaining open positions should be based on usual support/resistance and volume/open interest considerations.
Fullback
In the long run, the most optimal path through the decision tree would flow. A price sell-off on declining volume back to the neckline would prompt removal of any remaining bearish positions. All short calls should be covered. The resulting position is simply long call options. Note that this is the technical situation in the options strategy matrix that results in the long call strategy.
Objective Met
A trader should begin to take partial profits when an objective is achieved. Removing 25 to 50 percent of all bullish positions is suggested. But this is, as economists are wont to say, all other things beingequal. This is not usually the case. For example, if the underlying instrument is a futures contract, open interest changes become important. In a futures contract, open interest declining as a price target is being achieved is a warning signal. The percentage of profitable positions removed would move up to 75 percent.
In general, protective mental sell-stops in the underlying instrument would follow the market up moving in fits and starts depending upon where support formed on the chart.
Symmetry Destroyed
If quotes move below the right shoulder low, the symmetry of the Head & Shoulders Bottom is destroyed. This does not automatically invalidate the pattern. The pattern is destroyed if the low of the head is taken out. But a trader must begin to mitigate the loss of the long call position. Removing approximately one-half of the long calls would accomplish this.
Another Chance
Since the Head & Shoulders Bottom remains valid, the original upside measuring objective is intact. A bullish stance should be held unless the low of this second pullback is taken out. The decision to add to bull positions is tricky. A close above the neckline once again would certainly revive the bullish look of the chart. Aggressive traders can then look to increase a bullish bias possibly with outright longs in the underlying instrument rather than long calls.
Pattern DestroyedThe worst path through the decision tree culminates, the H&S pattern has failed. Although the H&S formation is usually highly reliable, it does fail in up to 20 percent of the cases. If enough premium is remaining in the long call options, they can be liquidated. If so little premium remains, they can be held rather than paying commissions. May be the trader will get lucky and a price rally will occur. But a trader who uses the words luck or hope is in a terrible situation.