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Javea property prices are ridiculous! No wonder the market is slow...

Javea property prices are ridiculous! No wonder the market is slow...

Old Jul 22nd 2007, 10:36 am
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Default Javea property prices are ridiculous! No wonder the market is slow...

I've viewed scores of villas (within a price range of 450,000 to 550,000 Euros) in different areas of Javea over the last few months and am amazed at how bog standard the properties are in this price range! I know that people have to factor in the expense of agents' fees but even so. I'm so disillusioned....anyone out there interested in a private sale???
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Old Jul 22nd 2007, 10:48 am
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Default Re: Javea property prices are ridiculous! No wonder the market is slow...

Originally Posted by Inquieto
I've viewed scores of villas (within a price range of 450,000 to 550,000 Euros) in different areas of Javea over the last few months and am amazed at how bog standard the properties are in this price range! I know that people have to factor in the expense of agents' fees but even so. I'm so disillusioned....anyone out there interested in a private sale???
Glad 2 be back is planning a private sale, not sure where she is but its worth a try.
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Old Jul 22nd 2007, 10:52 am
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Default Re: Javea property prices are ridiculous! No wonder the market is slow...

Originally Posted by Inquieto
I've viewed scores of villas (within a price range of 450,000 to 550,000 Euros) in different areas of Javea over the last few months and am amazed at how bog standard the properties are in this price range! I know that people have to factor in the expense of agents' fees but even so. I'm so disillusioned....anyone out there interested in a private sale???
Hi Inquieto,

Wait for October/November, I assure you prices in the North CB will be taking a substantial dip. The agents are still trying to flog properties on their terms because of the holiday season and plenty of impulse buyers out there. The summer season is not the ideal time to buy.

Best of luck,
Martha
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Old Jul 22nd 2007, 10:54 am
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Default Re: Javea property prices are ridiculous! No wonder the market is slow...

Originally Posted by rugbymatt
Glad 2 be back is planning a private sale, not sure where she is but its worth a try.
Hi Matt,

From what I remember, I don't think her property is in CB North, but then again I may be wrong.

Patsywhitehair has two properties in her classified section. I think one is in Pego.....maybe worth having a look at them here
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Old Jul 22nd 2007, 11:04 am
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Default Re: Javea property prices are ridiculous! No wonder the market is slow...

Originally Posted by MnM
Hi Inquieto,

Wait for October/November, I assure you prices in the North CB will be taking a substantial dip. The agents are still trying to flog properties on their terms because of the holiday season and plenty of impulse buyers out there. The summer season is not the ideal time to buy.

Best of luck,
Martha

Thanks Martha for your input. It's interesting that you make that comment about October and November because others in the property field have also hinted at this...Could you give me your thoughts on why there would a substantial dip?
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Old Jul 22nd 2007, 11:12 am
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Default Re: Javea property prices are ridiculous! No wonder the market is slow...

Originally Posted by Inquieto
Thanks Martha for your input. It's interesting that you make that comment about October and November because others in the property field have also hinted at this...Could you give me your thoughts on why there would a substantial dip?
less people out here on holiday likely to make an impulse buy
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Old Jul 22nd 2007, 11:26 am
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Default Re: Javea property prices are ridiculous! No wonder the market is slow...

Originally Posted by Inquieto
Thanks Martha for your input. It's interesting that you make that comment about October and November because others in the property field have also hinted at this...Could you give me your thoughts on why there would a substantial dip?
The market in CB North has been stale for about two years now. These are statements made from bank managers we work with, mortgage advisers and solicitors. The estate agents are trying to keep a firm grip on the prices, but once this summer is over the estate agents will have to face reality and either convince owners to reduce their asking prices or risk closing down their businesses.

During these two years valuation companies have been overvaluating properties, but regardless of what a property valuation is on paper, as many on here have said on previous occasions, a property is only worth what a buyer is willing to pay......hence a reality check is needed for all of those out there that think they can sell at any price.

I know of at least one property (not ours, we don't own a property) that is on the market for €550,000 and once October is here, the agents have already been instructed to reduce by at least €50,000 (which I think is a substantial amount). If it is not sold within a year, the price will be reduced even more. It is a beautiful villa, but it is not in the area you are looking at.
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Old Jul 22nd 2007, 11:42 am
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Default Re: Javea property prices are ridiculous! No wonder the market is slow...

Exactly the same is happening in our area, but with most properties, new selling for less than old in a lot of cases.
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Old Jul 22nd 2007, 11:46 am
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Default Re: Javea property prices are ridiculous! No wonder the market is slow...

Originally Posted by MnM
The market in CB North has been stale for about two years now. These are statements made from bank managers we work with, mortgage advisers and solicitors. The estate agents are trying to keep a firm grip on the prices, but once this summer is over the estate agents will have to face reality and either convince owners to reduce their asking prices or risk closing down their businesses.

During these two years valuation companies have been overvaluating properties, but regardless of what a property valuation is on paper, as many on here have said on previous occasions, a property is only worth what a buyer is willing to pay......hence a reality check is needed for all of those out there that think they can sell at any price.

I know of at least one property (not ours, we don't own a property) that is on the market for €550,000 and once October is here, the agents have already been instructed to reduce by at least €50,000 (which I think is a substantial amount). If it is not sold within a year, the price will be reduced even more. It is a beautiful villa, but it is not in the area you are looking at.


Well, that makes me feel so much better to know that others have the same mindset as I have regarding the present property market. As I've said, I have viewed scores of properties (literally) and have been disappointed by the quality of the properties I've seen. Based on my own observations, I think the present market is over-valued by a good 15 % - 20%. Anyone else of a similiar opinion?
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Old Jul 22nd 2007, 12:25 pm
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Default Re: Javea property prices are ridiculous! No wonder the market is slow...

Originally Posted by Inquieto
I've viewed scores of villas (within a price range of 450,000 to 550,000 Euros) in different areas of Javea over the last few months and am amazed at how bog standard the properties are in this price range! I know that people have to factor in the expense of agents' fees but even so. I'm so disillusioned....anyone out there interested in a private sale???
Glad's is a long long way from you

This is why we moved North. We started in Altea, Moraira, Javea, Denia & apart from other things decided on Oliva / Gandia because the property was much better value for money.
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Old Jul 22nd 2007, 5:57 pm
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Default Re: Javea property prices are ridiculous! No wonder the market is slow...

a neighbour just sold theirs for less than they paid 18 months ago
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Old Jul 22nd 2007, 5:58 pm
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Default Re: Javea property prices are ridiculous! No wonder the market is slow...

Originally Posted by lynnxa
a neighbour just sold theirs for less than they paid 18 months ago
Now that must be depressing!
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Old Jul 22nd 2007, 10:07 pm
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Default Re: Javea property prices are ridiculous! No wonder the market is slow...

Originally Posted by rugbymatt
Now that must be depressing!
the really sad thing is that they bought it as a holiday home, and the only time they used it was when they came over to sign the papers to sell it
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Old Jul 22nd 2007, 10:45 pm
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Default Re: Javea property prices are ridiculous! No wonder the market is slow...

Originally Posted by lynnxa
the really sad thing is that they bought it as a holiday home, and the only time they used it was when they came over to sign the papers to sell it
I thnk thats the reason I think I will rent long term
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Old Jul 22nd 2007, 10:53 pm
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Default Re: Javea property prices are ridiculous! No wonder the market is slow...

Originally Posted by lynnxa
a neighbour just sold theirs for less than they paid 18 months ago

You could invest in stocks for 18 months and lose money .......... its not a long enough time
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