How do houses really sell?
 

A two-tier question, really.... are houses really selling and at what drop on the prices they're advertised at? And do most houses still sell through estate agents or has t'internet scuppered that by way of private website/blog sales or online 'agencies'?
Yes we're talking about selling, but then we've talked about selling virtually since the 2nd year after buying!
It just strikes me there's a lot of smoke and mirrors and we all know houses remain unsold for ages..............so those that DO eventually change hands, how?!!

Re: How do houses really sell?
 

My house sold with the second viewer that looked at it through an estate agent. I owned it for about 8 years and lost hardly anything on it. Considering the markets, I consider I did quite well

Re: How do houses really sell?
 

Some of that, if not all, will be down to the exchange rates and where they were when you bought then sold, though.... it's the same for many of us, potentially, if only we could see it that way. And of course depending on whether we're buying back into the UK market.

Re: How do houses really sell?
 

Yes..property is selling but at a much lower price than the asking price. It all depends on the location and the price but in the south of Spain there has been a big rise in property sales from Russians and Northern Europeans again. Properties are sold by estate agents and by private sales but the agents have the edge as they have a larger client base to draw from.

The good news is that property prices are slowly rising again because of demand.

Re: How do houses really sell?
 

around 2.5 years ago, a house we wanted to buy was on the market for 500,000 € ........ we offered 400,000€

a slightly smaller house on the same urb had sold for 350,00€ a few weeks earlier - our offer was rejected even though it had already been on the market for over a year


it sold a few weeks ago for 300,00€

Re: How do houses really sell?
 

Pisos aren't, according to this from 2 days ago, they are still dropping.
http://www.abc.es/economia/20131118/...311151825.html
And the article tells us there are another 1.3 million being built, to add to the already million odd unsold. Let's hope there are lots of Russians and Chinese on their way, there will need to be to shift that lot! ;)
Tenemos en España alrededor de 1,3 millones de pisos en proceso de construcción,
In Córdoba house sales fell nearly 50% last month, depends very much where you are.
La compraventa de viviendas en Córdoba durante el pasado mes de septiembre se desplomó un 49,3 por ciento en relación al mismo mes del año pasado.

Re: How do houses really sell?
 

You told you that, an estate agent? :D

Re: How do houses really sell?
 

It must vary hugely by area. Madrid and Barcelona are very different from CDS or the Campo.

On the CDS near here (Estepona to Malaga) there are thousands of built and semi-built apartments - none moving at all.

In our village I have seen three houses recently - one bought/reformed for around 500,000, on the market for 225,000 - a few viewings, no serious offers. Another on the market years ago at 580,000 now on at 280.000 not even any viewing and I went to see a four bed townhouse habitable but with massive potential for development at 50,000. A house we used to rent was on the market at 240,000 - now at 140,000 but rented out.

It must be better than that somewhere surely?:(

Re: How do houses really sell?
 

I know someone in Mijas who recently sold their 4 bed villa with pool for 220k euros. They had it up for sale and empty for 5 years. In 2007 they had the price up for 675k! That was how much the estate agent said it was "worth"

220k was actually exactly the same price they paid for it in 1998

Re: How do houses really sell?
 

2 bed apartment, Frigiliana. Had it on with an EA for 12 months. Nada. Not one viewing

Advertised it on rightmove at the same price and it sold in 3 months, after 3 viewings and 5 enquiries. Saved me over €4,000 in agent fees, as well.

I would now recommend a personal advert on rightmove.

Re: How do houses really sell?
 

Hopefully!:rofl: The old adage "location, location, location" has never been truer (and price!). Here in UK there is a house near me, a good buy, good price, I don't think it has had any viewings, my niece in London has sold two houses recently, both within days and above the asking price. According to this (a few months ago) interest in Spain is up considerably, whilst prices down, but as the article points out most were well overpriced before the slump, so are now at a more realistic level. A mortgage broker tells us we "can now buy with confidence!" :rofl: Well he would, wouldn't he!
http://www.telegraph.co.uk/finance/p...sh-buyers.html

Re: How do houses really sell?
 

The house I sold 2 yrs ago had an advert on the gate, however there was a lot of people passing, although it sold to someone local.

Price wise it was always my intention to move to a sterling area, therefore I lowered the € price in relation to the exchange rate and achieved my sterling target.

Re: How do houses really sell?
 

For sure, but my point was that it sold very quickly ... took us by surprise tbh as we were assuming we would be renting and using it for the next year at least

Re: How do houses really sell?
 

Simple questions, but I would suggest answers are not so straight forward.

Any house will sell if the price is right.

% drop under advertised is not really valid question. Many are overpriced others are priced to sell and some are discounted to bargain basement.

IMHO a good EA is the most reliable way to sell your property at the best price.

Your chance of selling is determined by the location. Houses on the costas sell easier than those half way up a remote mountain track.

Re: How do houses really sell?
 

Everyone uses Rightmove anyway, in the UK you drive past something with a For Sale sign and by the time you get home you've forgotten who was selling it. Just key the area into Rightmove's site and nine times out of ten it appears. :thumbsup:

Re: How do houses really sell?
 

Obviously with Rightmove then you would only be advertising the property to people in the UK.

You need to also put it on the Spanish sites. 90% of properties in Spain are sold to Spaniards

Re: How do houses really sell?
 

I never realised that, they are missing out big time by not having a translation button. :confused:

Re: How do houses really sell?
 

Hi
To me the answer is simple; take the year 2000 and a 100K property. It cost you £60K

Up to 2007 the market was rising so ask for the top end of the market (250K) and wait for the market to adjust to the price you want.
In 2013, take a look at prices around you (in a greater radius) and adjust downwards to be lower than other similar properties. Now take the difference in exchange rates and lower your price further. Then it may sell.

Now convert the 120K? back to pounds (£110K?) and thank your lucky stars you didn´t make a too great loss.

Just my tuppence worth

Davexf

Re: How do houses really sell?
 

If only it were that easy :D

Re: How do houses really sell?
 

I have noticed an increase in the number of properties being sold to Scandinavian and Eastern European buyers.

Re: How do houses really sell?
 

I'm currently attempting to sell my late mother's detached bungalow, situated in a prime area in the UK. She paid £160K for it 12 years ago, the agent suggested putting it on at just under £200K. Unlike Spanish property sales I'm doing all the viewings, I've lost count of the amount of people that I've shown round it, but so far no offer has been made. We are now getting 2nd and 3rd viewings, I reckon that it's a case of the first one to make an offer is a loser, if no offers are made and someone then offers say £180K then I'm going to consider it, what I need is 2 people bidding against each other.

As for Spanish property, the one in Mijas that has reduced to a pittance, sort of gets me thinking that the bottom has truly fallen out of the market big style, I've seen plenty of 55% reductions so 65% shouldn't surprise me.

Re: How do houses really sell?
 

http://www.zerohedge.com/news/2013-1...onths#comments
watch what will happen in the real estate market in the US...
on average, Spanish prices are "thought" to drop another 15-25% over next 2years +/-. nothing certain but possible
it all depends on the infamous euro too of course, with buzz the ECB
might finally do the same as the FED (can they?): print euros.
save it by devaluating it vs USD, GBP, yuan etc
the way too strong euro is EATING European companies growth and profit margins.
http://www.zerohedge.com/news/2013-1...ks-strong-euro

Re: How do houses really sell?
 

Only a few months ago the Euro lovers/Pound haters had the UK travelling down shit's creek in a canoe with holes in it's bottom, whilst they were almost within touching range of the Holy Grail. As I keep saying, 17 different fiscal regimes using a single currency, is total stupidity.

Re: How do houses really sell?
 

yep, that too.
like putting the chariot in front of the horses
this thing will go to parity with USD in an attempt to boost european exports
and save it and /or crater (and it might be France getting ouf ot it, not necessarily Greece for instance, doing the first move)
plenty of possible scenarios
that too will influence real estate prices in Spain for say a swiss buyer, or a British buyer, a Russian, a Chinese etc. but those guys (except Brits) most likely look for luxury properties, not the EUR 200,000 typical apart or family house with a pool. so it won't matter much. and since so many got burned with illegal sales too...

Re: How do houses really sell?
 

It's very easy to act like an expert about things that haven't happened yet

If you actually know this, then put all your savings on it, you could become a multi-millionaire

Re: How do houses really sell?
 

I agree all those who believe that the Euro is going to hell in a basket should sell their Spanish etc properties now.
Convert to Sterling dollars etc and then when the crash happens buy them back for a fraction or of what the sold for.
Somehow I do not think that they really believe in what they are posting.
Me I am going to buy a lottery ticket .

Re: How do houses really sell?
 

well don't you think European companies would like a weaker euro ?
they are at a disadvantage vs US and chinese cpies who CAN devaluate their currencies at will. that's all.
now ECB gives negative rates on the Euro btw...
all this will have also an influence on real estate prices and possibly, again, an advantage for British people if the GBP gets back some of its older strength on the euro should they want to buy a property in Spain.
as for timing of all this, good luck. but let's not say it can't happen.

Re: How do houses really sell?
 

No this sort of investment doesn't make multi millionaires, I recall reading about a guy who bought very big into British Rubber, just before AIDS came to the front and condom sales went global, any ideas guys?

I have problems with property, having several, they are costly to maintain and can be difficult to sell, unlike, precious metals, art and shares.

Re: How do houses really sell?
 

According to Registradores.org foreigners bought 16,217 homes in Spain in the first six months of 2013. The British came first with 2,357 completions, Russians were second with 1,418 and the Chinese bought 519. What we do not know is how many sales there were by these nationalities and therefore whether there were more buyers than sellers.

These are small numbers of purchases in the context of the total number of unsold homes. In particular the idea that Russians and Chinese are snapping up homes seems exaggerated, probably a marketing ploy to encourage the British.

Re: How do houses really sell?
 

We are thinking about buying an apartment down the road from where we have a house just as a rental/investment for later years, we made an appointment with two agents to see 12 or so apartments when we were over next, in the two weeks between making the appointments and viewing, two of the places had been sold, the ones that sell are priced correctly for the market, there are plenty of people looking but as with us they all want a good deal/location etc

Re: How do houses really sell?
 

Of course it can. You can use spread betting to bet the currency exchange rate on a certain date

Or you can put all your savings into a certain currency depending on what may happen and then keep swapping when you think the market will turn

Or you can buy a lottery ticket like EMR said

Re: How do houses really sell?
 

Last week's €100M Euromillions jackpot was reportedly won by someone in Almunecar, so it can be done!

Re: How do houses really sell?
 

I can't agree, millionaires are generally self made by doing the things that the likes of you and me would never think of. I knew the Stringfellow brothers in the 1960's, and couldn't work out their game plan in hiring dance halls to put on a one nighter with the likes of The Beatles. I found out later that they didn't have a game plan and were quite simply having the time of their lives, the money came as quite a nice surprise. :cool:

Re: How do houses really sell?
 

Ok so I might have mentioned the exchange rate ref Mitz's property, but it was only a side issue, and we've (aka a lot of you:lol:) gone down that track and no mistake. so:focus:

People have mentioned Scandinavians, Germans, Russians, Chinese..... my question would be HOW? Through Scandinavian, German, Russian, Chinese estate agencies operating out of or for the Spanish market? Or privately advertised either on sites like RightMove or their own websites?


On that... I'm not so sure, a house will sell if the right person sees it. It's just a question of making sure enough people know of any property's existence!

Re: How do houses really sell?
 

I've noticed a few estate agents operating locally saying in their adverts recently that they now have a "tie-in" to various international markets - for example, the other day I saw one (think it was Spanish Management) saying they were now working with a Russian agency.

It's common practice for agents to work together anyway, when we were handling viewings for a friend who had his property up for sale it was only placed with one agent but she would regularly turn up with another agent in tow (of various nationalities) plus the prospective buyers. They split the commission.

There are also agents around from various countries - Hansen Inmobiliaria in Torre del Mar, for example, are Swedish and deal with the other Scandinavian countries as well.

Some local British agents (including the one we dealt with on our friend's behalf) also take stands at overseas property shows in other countries - I know she has been to St Petersburg, Copenhagen, Oslo for example.

Re: How do houses really sell?
 

I wonder if multiple agencies could be classed as being 'a pack of estate agents'. :eek:

Re: How do houses really sell?
 

Collective noun for estate agents............whole new thread, methinks.

Re: How do houses really sell?
 

Until recently we had our apartment with a very well known 'Property Shop' in Nerja who made a big thing of a tie with Scandinavian agents. If the lead was from them they put the commission up from, an already high, 5% to 6%.

Removed from them as no viewings in a year, Scandinavian or otherwise.

Things seem to sell by word of mouth, know anybody selling ? sort of thing. We are in mid negotiation by this method and a house near my campo dwelling has just sold by the same way.

Re: How do houses really sell?
 

I am not saying rural houses are less desirable. Any house will sell if the price is right.

For a whole lot of reasons it is generally easier to sell in more populated areas on the Costas. An obvious one is an Estate agent can show three or four properties local to his office in the time taken to drive to one remote finca.

Re: How do houses really sell?
 

I went on a walk/hike back in the early 80's, inland between Calpe and Benissa Town, I had an open invite to visit a couple who ran a horse ranch way out in the sticks. I miraculously found it and wandered up to the house where they were relaxing on the terrace, they couldn't believe that I had walked instead of driving, because of the wild boar that were plentiful in the area. :scaredhair: