patsywhitehair

my brother lives on monte pego (nr denia) he has been trying to sell his villa for about a year now, its a beautiful villa with pool and he's actually reduced the price BUT although he has had some viewings there is no buyer in sight.
A lady by me with a lovely villa has been trying to sell her property for about 9 months and again the same.
I think what I am trying to say is ..only buy a property in Spain because you really love it here because if you dont then it will probably take a long long time to sell it.I know of about 6 people who are up for sale and the buyers just dont seem to be there sooooooo.. without sounding like doooom and glooom try and rent before you buy if possible.
myself I love it here.

spain

I have a few friends who are selling or sold - 1 of them had about 5 offers by people who all pulled out before paying the deposit, the other had quite a few viewings but no offers - both have just recently sold (20-30,000 under the asking price) and took more than a year to sell

one agent told my friend its because people are going for off-plan rather than re-sale as there are a lot of good deals around

definitely a buyers market

Mitzyboy

Ooooeeerrrrr ..... dont start Big Pete off again!!!

TheArmChairDetective

Would the agent have been selling off plan stuff by any chance?

I have heard that a lot of people who have bought off plan put the property up for sale soon after completion because the dream and the reality dont match.
Big Pete's idea suis me the best, rent to start and buy a place that's had all of the snags sorted out...phone, broadband, etc etc.
Mind you, renting in order to buy in the UK cuts any chain short,makes for easier purchasing and reduces the stress.

spain

yeah of course he was but not to my friend as she is going back to UK - he was just comparing her place to off plan prices in the area

jdr

They are the same as car salesmen what you wanna buy is expensive, you wanna sell "oh dear its not worth much at all"

jonsol

[QUOTE=.I know of about 6 people who are up for sale and the buyers just dont seem to be there sooooooo..

ER, Patsywhitehair, How much are these 6 people, ? ? ?

spain

true

patsywhitehair

[QUOTE=jonsol;4648371][QUOTE=.I know of about 6 people who are up for sale and the buyers just dont seem to be there sooooooo..

ER, Patsywhitehair, How much are these 6 people, ? ? ?[/QUOTE]
err , well the blond one is two and six and the dark haired one is half a crown.... yep , see what you mean, in my haste.......

toyboy23

Put plainly, it’s supply and demand. The phenomenal amount of building going on has to 1) devalue your property and 2) make it harder to sell.

At the Spanish Property exhibitions round here, they will tell you anything to sell. They’ll offer 100% mortgages through their contacts and tell you that when you’re not using it you’ll get so much per week/month, at 80 to 90% occupancy etc, and wow you can sell your Surrey property and buy two of these and the income will make you a millionaire…

Worryingly, the selling tables always seem to be occupied with people signing up.

Looking at it from the other side, when I show interest in rentals in Almeria, I get unbelievable offers in the way of reductions and so on. It’s quite clear that occupancy reality is different from the pictures painted.

If your agent is selling off-plan property as well as resales, then he’s part of the problem, not part of the solution. Their cut on those has to be huge compared to the margin on your resale property, and he’s gonna be showing those to your potential buyer.

‘Buyer Beware’ just doesn’t seem to apply when buyers are looking at pink villas with blue pools out front.

crispy

I think you have to be very realistic when selling a house in Spain, so many people over price there homes and we have found that some agents here can be reluctant to guide you in the right direction but we have insisted on everyone of them giving us there valuation before we tell them our selling price, and every one of them will advertise the house at the same price and their commision will come out of that. Over pricing is not something that only Brits do the Spanish are just as bad, we have new builds in our street on smaller plots without kitchen and bathrooms fitted going for at least 30,000 more than we were thinking and then there is the cost of landscaping the garden (and the issue of the leccy metre!)

The best advice I can give any one who puts their house on the market is once you have done it you must then forget that it is up for sale and get on with your life because you will be very lucky to sell it within 2 years and life must go on. It's a shame because there are people who need to sell quicker than that but this area in particular has been satiated in the last few years with foreign buyers and the locals have cotton on to this and replied to the demand by building on every available piece of land.

Fuzzlepop

Why don't they rent it out till they find a buyer?

TheArmChairDetective

Got any photos?
Someone here might be interested.

jeanc

I'm finding that house prices in spain are not much less than the uk so if what you're all saying is true, and i'm sure it is, that work with decent pay is hard to come by how can anyone afford to buy?

crispy

To be honest I think living the good life in Spain is only achievable if you are retired and have a decent income or if you have to work then you have a specialised trade and I don't mean being a builder because they are two a penny here, something that you can do by either working from home and it doesn't matter where in the world you are. Life here for young couples with children is going to be hard and no matter how much research or planning is not going to change that.

We have just had a call from one of our agents giving us our first quote for the price of this house.........it is 30,000 more than we thought excited or excited.......but wait I know the price's here are inflated so we won't be going with their quote because at the end of the day we want to sell and the quote they gave was more than double what we paid for this place 4 years ago. We have however improved this property greatly with pool, aircon, garden and general good maintenance.