Living the Good Life in Sunny Spain

Now´s the time to buy!

2008-07-05T10:47:00.004+02:00

Below, a little help for investors. The table shows the evolution of selling prices per square metre in Torrevieja, Alicante.
After a long gradual slide of the prices, we are seeing the first upturn again. This may well be the sign we have all been waiting for, that we are reaching the bottom of the market. The best time to get into any market.

servicio ofrecido por www.fotocasa.es lideres en venta y alquiler de pisos y casas

Spain still very much in demand

2008-05-21T13:19:00.003+02:00

Despite what some people are saying, in some countries Spain is still very much in demand when it comes to buying a second home. A leading Dutch newspaper recently wrote an article about second homes for the Dutch. In it, they presented figures showing that spain, after Holland itself, is still the most sought-after country for a second home. 25% of all Dutch are considering a second home. Of these more than half are looking in Holland itself. 12% are looking in Spain.

For all of them I am introducing my new Dutch website. http://www.vivacostablanca.nl/.

As does my English website, it offers a wide selection of property on the Costa Blanca, but, at the same time, celebrates the kind of life we have on the Costa Blanca. We work hard, we work long hours, but manage to get more out of life than we did in our respective countries of origin.

Come celebrate with us!

Crisis - what crisis?

2008-01-30T19:13:00.000+01:00

Everybody is complaining. Everybody is thinking of leaving the business, or has left it. One office after another is closing down.
On the other hand, our Re/Max office is doing better business than in the years before. We are the 2nd office in Spain, outselling even large cities such as Madrid, Barcelona and Malaga.
More than half of our agents have won awards for the amount of sales.
And today we found out that we even doubled our sales in January as compared to January last year.
So, what´s the problem?
You simply have to do your job, work hard, do not sell pipe dreams and keep your clients informed.

For all those I did not reach in any other way

2008-01-18T17:29:00.000+01:00

Builders´ Folly

2007-11-16T11:43:00.000+01:00

Last Sunday in "El País", one of Spain´s leading newspapers, builders decided to strike back at slow sales. They "warned" prospective buyers of their overpriced new-built properties that waiting could drive prices up.
The nerve of these people is really beyond belief. The argument is typical arrogance of builders who have had it their way for far too many years and cannot adapt to the new market conditions.

Do not be fooled by these people. It is a buyers´market and do not let anybody tell you different. Prices are coming down. Since summer of 2005, on our little part of the coast they have come down as much as 25%.
There is an enormous supply of properties for sale and some sellers are getting desparate.
So there are good deals, even great deals to be had. I have a few on my website.
But do not buy for the wrong reasons. And certainly not new builds at these as yet inflated prices.

How much longer do I have to wait?

2007-11-02T18:35:00.000+01:00

How often have I heard this question from sellers lately. The honest answer is: I do not know.
As a real estate agent, I do have an insight based on experience and information. I can quote averages, I can tell what you can do to make your property more attractive. I can also tell what the optimum selling price is.
But I cannot predict the future.

Still here´s a little information about the time necessary to sell certain types of properties here in Spain, over the last year. It should not come as a surprise to anyone that the more expensive property takes longer to sell than more economical ones.
Up to 200,000 Euros the average selling time has been 138 days (between 4 and 5 months)
Up to 300,000 Euros 159 days (more than 5 months)
Up to 500,000 Euros 188 days (a shade over 6 months)
Up to 800,000 Euros 208 day (almost 7 months)
Up from 800,000 Euros 233 days (some 8 months) again all of this in average.

If you want to influence this, there is a lot to be done. There are ways to make your property more attractive to prospective buyers. I can tell you a lot about that. But, most of all you have to make sure buyers KNOW your property is for sale. This is somewhat more difficult than it sounds, especially in this buyers´ market.
I have a little trick for this.
Want to know how?
Give me a call.

In Spain, the rain does not stay mainly in the plains

2007-10-15T11:14:00.000+02:00

You may have heard last week, about the weather here on the Costa Blanca. It was a sight to be seen. Torrevieja even made the national news. 65 liters of rain per square meter in something like 35 minutes.
Tables and chairs from a bar 200 meters up the street came floating down.
Cars up to their headlights in water.
Kids rowing down the street for a couple of hours.
Fun to watch, if you did not have a cellar or a garage below ground level.
100 kilometers or so up the road in the neighbourhood of Benidorm, the picture was a little different. As much as 165 liters in 24 hours turned things into a real mudbath. The army´s still clearing things up.

All in all in the 4 days of rain we had all the water for the next year came down. This has more or less been the trend for the past few years. 4 or 5 days of heavy rain and the occasional drop or two. That´s our lot for the year.
Makes for a nice change from the heat sometimes.

Buyers, now is the time!

2007-10-02T18:49:00.000+02:00

You must have heard, prices are dropping. Bad news for sellers. As of this summer, it is definitely a buyer´s market.

It is always hard to generalise, but overall prices have dropped by 20-25% in comparison to summer 2005. What only my local bank manager foresaw 2 years ago is rapidly proving to be the case. He said properties were some 30-35% over price and prices would adjust accordingly. Nobody believed him, because it was the height of the boom.
So, never say never, when an expert is talking.

The good news, obviously, is for the buyers. At the moment, we have some excellent properties on our books, that you would not have been able to find 18 months or even a year ago.

Another fact, land transactions have more than halved in the last two years, from 2,593 in 2004 down to 1,161 in 2006.
So if you are thinking of buying your own plot in order to build your dream house on it, now is the time. There are some really sweet deals to be had. I myself am negotiating a deal for 20,000 m2 with rights to build in La Mancha (the center of the country) for less than 30,000 Euros.
Do not let it get away, people!

Thinking of selling?

2007-10-01T11:02:00.001+02:00

In September we find ourselves listing more properties than in any other month of the year. This year the trend was even more noticeable than other years. Due toperceived unrest in the market, increasing mortgage rates, etc. people are selling up more than ever. A lot of sellers wait until after summer so they can still rent out the property during the high season, or enjoy it themselves.

Do you find yourself in the same position? Are you thinking of selling?
Here´s a little insider knowledge. The "Colegio de Apis" (Institute of Official Estate Agents) has issued a statement that the average price per square meter in the Alicante province at the moment stands at 1,737.40 Euros.

However, this would not be Spain if there were no leeway. Prices vary as much as 20% either way. Still, it is a good figure to bear in mind when establishing the selling price for your property.
Go outside the margin and you know you will not sell, or sell to cheaply. Unless there are special circumstances, like a special location, orientation, distribution, access or any other factors which have a real influence on the price. The fact that you have installed an awning a year ago does not substantially alter the price.

Confused? You need not be. You can always call me. I will give you a free and up-to-date valuation on your property whenever you want. All you need to do is call. You can contact me through my website.

Moros y Cristianos festival

2007-09-23T20:19:00.000+02:00

Everyone who loves Spain knows about Fiestas. Everyone knows about Semana Santa and its dignified processions.

Still, there is a lot more to be seen in the way of fiestas.
In our region the wars between the Moors and Christians of the Middle Ages, fighting over Spain are still remembered every year with pomp and good humour. It is a four-day feast of beautifully and lovingly made costumes, fireworks, mock battles and reconcilliation.
For all of you who have missed this year´s "Moros y Cristianos" festival, there is still time. I happen to know that in El Campello this spectacular festival is held in October this year.

The best way to be part of this festival is to be invited by one of the "comparsas" the groups who make up either the Christian or the Moorish band. Between the various parades and "battles" they engage in Spain´s other national pastime, yes, you guessed it, eating and drinking (obviously accompanied by singing and dancing).

If you haven´t seen it, make sure you do not miss out another year. If you do, do not worry, there is always next year.

Just to get your attention, and because a picture tells a thousand words, here´s a link to some YouTube movies of various versions of the Moros y Cristianos festival.

http://www.youtube.com/results?search=Search&search_query=Moros+y+Cristianos

Enjoy!

Beware of the "first-line sharks"

2007-09-20T23:13:00.000+02:00

What most Spanish buyers and homeowners have known for years now, is the fact that first-line properties have become very risky business. Very few first-time buyers, or foreign buyers as a whole, are aware of the so-called "Ley de Costa".
This new law has been introduced by the Spanish government to save what is left and reclaim as much of its coastline as possible.

To first-line homeowners it means an "arbitrary" repossesing of, a lot but not all, first-line properties. Going into all the details would go too far. To give you an example: whether a building is affected depends, amongst other things, on the "highest flood in human memory". How is that for an objective standard?

In practice it means that a lot of owners have been given notice by the state. They can still own their property for the next 50 years (again there are some ifs and buts, but never mind). After these 50 years the property will be torn down and the land will revert back to the Spanish state. Within a period of time, at the moment varying between 8 to 12 years, some buildings will receive injunctions against major structural repairs. This in order to make your property worthless by the time the 50 years are up, if not sooner.

Confused? Outraged? Join the club. Just do not buy first-line anymore. Unless you have written proof that the building you are buying (into), is not affected.
Have you found a first-line property for a price too good to be true? Get veeeery suspicious.
Do NOT believe the stories about grandmothers with terrible deseases that need very expensive care.

Beware buyers, the "first-line sharks" are gathering. They are planning to have a feast. Make sure they do not feast on you and yours.

News of the week

2007-09-19T15:29:00.000+02:00

The most notable news this week was the intervention in the UK by the government to support Northern Rock. Fears that they might not be able to pay back savings people had in their accounts, led to massive withdrawals which in turn threatened the stability of Northern Rock.
In order to avoid panic the British government stepped in and supplied Northern Rok with enough credit to weather the storm.

In turn this has let many property owners in Spain to believe that we are facing a crisis in Europe as well as in the US. As one distressed client put it: "The roof is falling in".
Fortunately, this is far from true. To give you one fact, the Spanish economy is growing at an above EU average of 4% annually.

What is true, is that we are seeing a readjustment of the market after years of very high profits for speculators. Overall, Spanish property was overpriced, but since summer of 2005 we have seen a gradual decrease in selling prices. They are now nearing a level that is more in line with the real values of properties.
In other words, it´s a buyer´s market, but we all knew this, didn´t we.

You can snap up some really nice property if you are quick enough.
Before everyone starts calling, let´s enjoy a few hours on the beach.