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More problems for Spain?

More problems for Spain?

Old Dec 1st 2010, 4:16 am
  #16  
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Default Re: More problems for Spain?

Originally Posted by cricketman
My apologies

Someone I know has had their house up for sale for 18 months, near Mijas. It started off at 625k, now it is at 450k and still not a word of interest (up with 2 estate agents and all the online sites). He said last night he is considering putting it on at 350k to get rid of it as he needs to release the capital.

We'll see!
Christ if it was up for 625, then 450, and now might go for 350, just to release the capital, doesnt that just show how over priced his house is, or was. Putting it up for 350, thats nearly a 300 grand drop. it still might not sell.
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Old Dec 1st 2010, 4:20 am
  #17  
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Default Re: More problems for Spain?

Originally Posted by wilki
Christ if it was up for 625, then 450, and now might go for 350, just to release the capital, doesnt that just show how over priced his house is, or was. Putting it up for 350, thats nearly a 300 grand drop. it still might not sell.
Oh yes I agree. It doesnt help that the British estate agents this guy used valued it at 625k and above. Shows what they know. Unfortunately people choose to go with the agents that value the house the highest
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Old Dec 1st 2010, 4:30 am
  #18  
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Default Re: More problems for Spain?

Originally Posted by cricketman
Oh yes I agree. It doesnt help that the British estate agents this guy used valued it at 625k and above. Shows what they know. Unfortunately people choose to go with the agents that value the house the highest
Once a agent has its hooks into you, it can sit back . Most numb nuts will think what a lovely agent getting me all that lovely dosh. loads of money. then. sorry sir its not selling we will have to drop, and drop, and drop.
or there just sit it out and sell the odd one to pay the wages.
And looking at some of those lovely photos they take to advertise your lovely home, of say the washing machine, or a table.
Dont you just love them.
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Old Dec 1st 2010, 4:34 am
  #19  
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Default Re: More problems for Spain?

A miracle has happened in our little street, a house has just been sold, from Spanish owners to a Spanish buyer. Everybody’s walking with a spring in their step and the dogs and cats are more frisky than usual.

It sold at 40% of the original asking price from when it went on the market some six years ago.
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Old Dec 3rd 2010, 3:57 am
  #20  
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Default Re: More problems for Spain?

Originally Posted by cricketman
Even more reason to rent! Spain has the lowest proportion of renters in Europe. Some new legislation in that area could help too

Well there is the flip side to renting, and that is even if you bought at the top/ish of the market, like we did, we are more that half way through our mortgage term, on our property in Southern Spain, the one in Galicia was finish a couple of years ago, and although it does not bring in any rental income it is still an asset. So as long as you can afford the payments and not considering selling in the near future, thinkgs are not too bad.
Both renting a buying have thier advantages.
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