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First Occupation Licence - me again

First Occupation Licence - me again

Old Jul 22nd 2010, 1:00 pm
  #16  
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Default Re: First Occupation Licence - me again

I agree, too many people believe everything they read in the gutter press.

Wish I had a pound for every time waster, who thinks they can buy any property for half the asking price in spain.
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Old Jul 22nd 2010, 1:18 pm
  #17  
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Default Re: First Occupation Licence - me again

Originally Posted by Veleta
I think the problem is that she has seen/read umpteem times that it is a buyer's market, there are thousands of unsold properties and that buyers are managing to knock down prices by 30%/40%!

So she is househunting with these "facts" in mind, but the reality is somewhat different. So yes, I agree that she is not being realistic, but I can see why she thinks this way when everyone is telling her that as a cash buyer she should be able to cherry pick the 'perfect' property!
Maybe it is the sellers not being realistic?

There are many who have had their property up for sale for years. Your friend should keep waiting and make offers for an amount she is happy with. Eventually someone will accept one of her offers.

Still a long way to go for price falls I feel, although I've seen drops over the past few years, there's probably another 30% or so to come.
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Old Jul 22nd 2010, 1:46 pm
  #18  
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Default Re: First Occupation Licence - me again

Kyero seem to think prices in CDS have risen very slightly but dropped in other areas.

Have a look...

http://prices.kyero.com/2010/07/01/k...ndex-released/
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Old Jul 22nd 2010, 1:46 pm
  #19  
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Default Re: First Occupation Licence - me again

Originally Posted by cricketman
Maybe it is the sellers not being realistic?

There are many who have had their property up for sale for years. Your friend should keep waiting and make offers for an amount she is happy with. Eventually someone will accept one of her offers.

Still a long way to go for price falls I feel, although I've seen drops over the past few years, there's probably another 30% or so to come.
This is what she has been doing for almost 2 years now. I think there comes a point when she'll just have to face facts and realise that she's not realistic. The sellers of all the nice properties just don't seem to be as desperate as we are led to believe.

If I tell my mate that prices are going to drop another 30% she'll never end up with a property!!!! Her head is far enough up in the clouds as it is!
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Old Jul 22nd 2010, 1:48 pm
  #20  
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Default Re: First Occupation Licence - me again

Price drop in some areas HERE

Sadly...
5 properties repossessed each day in the Malaga region. HERE
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Old Jul 22nd 2010, 1:50 pm
  #21  
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Default Re: First Occupation Licence - me again

Originally Posted by Veleta
This is what she has been doing for almost 2 years now. I think there comes a point when she'll just have to face facts and realise that she's not realistic. The sellers of all the nice properties just don't seem to be as desperate as we are led to believe.

If I tell my mate that prices are going to drop another 30% she'll never end up with a property!!!! Her head is far enough up in the clouds as it is!
She reminds me of the type Kirsty Allsop and Phil Spencer get on their show ,pulling their faces at everything they are shown, expecting a champagne house for light ale money
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Old Jul 22nd 2010, 2:09 pm
  #22  
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Default Re: First Occupation Licence - me again

Originally Posted by jdr
Price drop in some areas HERE

Sadly...
5 properties repossessed each day in the Malaga region. HERE
So who do you believe?, we all know prices are down but at the same time nothing is being given away nor likley to be, my personal view is that it will be around 3 to 4 years before we see another wave of foreigners with hands full of cash pushing up prices significantly and then they may be all Chinese businessmen
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Old Jul 22nd 2010, 2:53 pm
  #23  
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Default Re: First Occupation Licence - me again

Originally Posted by Rotor
So who do you believe?, we all know prices are down but at the same time nothing is being given away nor likley to be, my personal view is that it will be around 3 to 4 years before we see another wave of foreigners with hands full of cash pushing up prices significantly and then they may be all Chinese businessmen
Well a lot of the foreign buyers bought from the equity or profits they made on their UK property. This means they dont have a mortgage and so are not desperate to sell for any less than they think it is worth.

Even for those with a mortgage, with interest rates being so low we are in a cold war arrangement at the moment.

Anyway, given that it would cost 2,000 euros a month mortgage for 30 years for a flat I rent out for 800 euros a month. I know what the clever people should be doing!
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Old Jul 22nd 2010, 2:56 pm
  #24  
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Default Re: First Occupation Licence - me again

Originally Posted by cricketman
Well a lot of the foreign buyers bought from the equity or profits they made on their UK property. This means they dont have a mortgage and so are not desperate to sell for any less than they think it is worth.

Even for those with a mortgage, with interest rates being so low we are in a cold war arrangement at the moment.

Anyway, given that it would cost 2,000 euros a month mortgage for 30 years for a flat I rent out for 800 euros a month. I know what the clever people should be doing!
What about cash buyers though? With interest rates so low leaving the cash in the bank doesn't generate much of an income and forking out €800 a month on rent wouldn't really make sense.
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Old Jul 22nd 2010, 3:06 pm
  #25  
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Default Re: First Occupation Licence - me again

Originally Posted by cricketman
Well a lot of the foreign buyers bought from the equity or profits they made on their UK property. This means they dont have a mortgage and so are not desperate to sell for any less than they think it is worth.

Even for those with a mortgage, with interest rates being so low we are in a cold war arrangement at the moment.

Anyway, given that it would cost 2,000 euros a month mortgage for 30 years for a flat I rent out for 800 euros a month. I know what the clever people should be doing!
And in 30 years you will still have nothing but the value of the flat you rent will have gone up 10 fold Theres nothing safer than bricks and mortar even when its over priced ,you still have to live somewhere ,you could buy a 250k apartment for 800 a month with a not to big a deposit.
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Old Jul 22nd 2010, 3:14 pm
  #26  
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Default Re: First Occupation Licence - me again

Originally Posted by Veleta
What about cash buyers though? With interest rates so low leaving the cash in the bank doesn't generate much of an income and forking out €800 a month on rent wouldn't really make sense.
Absolutley, 800 a month rent down the drain and interest on savings rarley beats inflation in the real world, particularly against property in the long term .
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Old Jul 22nd 2010, 3:38 pm
  #27  
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Default Re: First Occupation Licence - me again

I've got a relative who bought in Spain two years ago, despite being advised not to buy into a falling market by just about everyone except the seller.

Taking the exchange rate into account, the value of his property has halved since then. Even worse than that, he went along with the seller's deal for a ridiculous amount of black money.

He fell for the stories about what happened ten to fifteen years ago and refused to believe that those times have long gone.
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Old Jul 22nd 2010, 3:43 pm
  #28  
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Default Re: First Occupation Licence - me again

Originally Posted by Veleta
What about cash buyers though? With interest rates so low leaving the cash in the bank doesn't generate much of an income and forking out €800 a month on rent wouldn't really make sense.
If you are a cash buyer then you are free to buy what you like Really these things are about opinions and confidence. Your friend needs to find a place they think is worth the money.

Everything I see in my part of Spain is worth nearly half of its sale price - in my eyes.

Btw, renting isnt wasting money at all. I get to save 1200 euros a month because the rent is way cheaper than the mortgage would be. Over 30 years this is 430,000 euros I save, not including inflation/savings interest!

Then I save on the community fees, at 200 euros a month, that is 72,000 euros over 30 years. And of course I dont have to pay for maintainence. Oh and of course the sales tax on a 350k property comes to 35k. That is 4 years rent!

People should do what they want. But it is wrong to say renting is wasting money.
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Old Jul 22nd 2010, 3:45 pm
  #29  
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Default Re: First Occupation Licence - me again

Originally Posted by Rotor
Absolutley, 800 a month rent down the drain and interest on savings rarley beats inflation in the real world, particularly against property in the long term .
Tell that to the people that bought and are stuffed now cos they can`t sell and are struggling to get a renter.
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Old Jul 22nd 2010, 3:46 pm
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Default Re: First Occupation Licence - me again

Originally Posted by HBG
I've got a relative who bought in Spain two years ago, despite being advised not to buy into a falling market by just about everyone except the seller.

Taking the exchange rate into account, the value of his property has halved since then. Even worse than that, he went along with the seller's deal for a ridiculous amount of black money.

He fell for the stories about what happened ten to fifteen years ago and refused to believe that those times have long gone.

But prices will come back up...they always have ,you may have to wait a few years thats all .
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