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Hey Phil,
No offence taken my friend, I know were all in the same boat as to speak.
We all want our places in the sun, yesterday...  ! But unfortunately we all have to play the waiting game.
The fact is we dont mind waiting but once we get a finished product at the end of the day is the main thing 
Roll on next year...hopefully.
Anyway were over in Nov to check out progress and will report back with our findings.
Bren.
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Bren & Erica
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the good news for polaris is they took 40% deposit.that means they are cash rich.they are now completing and have very few failures as selling through brokers like myself on the non completions.they are slow on sales just now but will just continue on properties where they have funds in place.their business model is much better than most.labour is easy to get as only a few builders still active.once the golf course is finished come august the first part will look stunning.
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Hi Everyone - Having been out there recently I have to say We are more convinced than ever that we did the right thing - As others have said, you have to be looking at a 10 yr turnaround, PW never promised anything less than that - I have posted somewhere else on the forum that we asked about, what is happening now with the next part of the development and unfortunately for Mirador buyers, that part is now on hold for 12 months while they concentrate on Oasis and the golf course. They said one third of the Oasis will be up in 6 months and the remaining another 6 months later - I would be disappointed if I had been buying on Mirador, but, on a positive note, the euro will be stronger (Shampers said) and it gives you more time to save
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You've Got To Go Through The Storm To Get To The Rainbow
Martyn and June xx
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Cuz,
For those of us with already finished properties at Condado, the Oasis news is music to our ears. Another positive slant that Mirador owners might consider to offset the disappointment is that those that may have bought primarily to rent will now have first class facilities available to offer once their properties are ready for occupation. You will also have your final 60% earning interest in the bank or you will not be paying a mortgage. For those that bought for themselves, there will be plenty to rent on first two phases even though it is not quite the same as having your own 'gaff'.
Regards,
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Will
( & Jackie if it's not controversial !!  ).
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What do people make of this ?
http://translate.google.com/translate?u=http%3A%2F%2Fwww.vegamediapress.es%2Fnoticias%2Findex.php%3Foption%3Dcom_content%26task%3Dview%26id%3D8694%26Itemid%3D1&hl=en&ie=UTF-8&sl=es&tl=en
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Not entirely sure what to make of it as the translation is confusing. But I think it says that Polaris didnt/cant gaurentee the recent loans but offered Hacienda Requilme as guarentee against their debts. Then there's many comments of the 'what do you expect in these corrupted times' variety.
However someone else may be able to make more sense of this than I.
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Jan & Mike
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If anyone else is considering searching various sites for news on the Spanish Property market- don't.! Take it from me it makes gloomy reading. Started to look for a bit more info after reading the report identified earlier on this thread and have since waded into the gloomiest range of property information probably known to man. As we've not bought to sell on we're in a better position than others and one positive is that several reports say that the downturn in purchasers from wider Europe has meant lower prices which are appealing to the Spanish purchaser more than anticipated so resorts like CdA will be less expat communities and therefore busier. This was referred to as being less 'Spanish lite' than usual for these types of resort.
Provided Polaris can meet their commitments for the shops, restaurants and golf course this current phase has much to offer and we can see from all the recent photo's how good it looks. Hoping Shampers is right about an upturn in the euro for next year.
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Jan & Mike
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We heard early on from our agents that the promotions in Spain were leading to a bigger than expected uptake in Spanish owners or CdA, and particularly in full time residents- I suppose the prices have been right. Afterall they were right for us, everywhere else we had looked was just too expensive for all the boxes we wanted ticked. It may just mean that there will be no 'ghost town' atmosphere that other resorts have off season. One report I have just read from the Guardian isnt particularly complimentary about buying on a Polaris resort, but I alwways feel they miss the point anyway- and is talking about the huge discounts being offered by people desperate to get out and by Polaris from properties people havent been able to complete on. A buyers market, according to our agents who say they are still getting purchasers, its just those people who know what they want and have the money up front- rather than time wasters who haven't quite made decisions.
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Jan & Mike
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Hi
Jan & Mike I agree with what you have said the translation is confusing and I gave up in the end. I was told by my agent last year when we were in the process of putting a deposit down that the Condado is going to be different from the previous PW resort, and that was because the Spanish were not sure what to make of PW at first then by the time Condado came on the scene the Spanish felt more confident in buying Polaris World properties. That was one of the reason I liked about the Condado that it would have Spanish families living on there as well as English families.
Jan & Miike it is good to hear you are positive as so am I, there might be a reduction on buyers but the one who are buying are people who have done there homework on their finiances rather than the risk takers who have been burnt by the credit crunch! The newspapers will always spread doom and gloom on anything that they can get their hands on in any country.
Sorry to have gone on a bit but I still feel positive and I am sure the people who have already moved in and taken up residents in the Jardins will say the same.
I do feel for the people who have put deposits down on the Golf suites and El Mirador as it is a worrying time but they are completing on the 1,200 apartments on the Penthouses and Naranjos soon.
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I have just read must post and wanted to explain that when I said
"I do feel for the people who have put deposits down on the Golf suites and El Mirador as it is a worrying time" I was meaning I feel for them because of the delays they have had to wait.
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Hi, just read that Polaris world have a four page pull-out in the Daily Express tomorrow, hopefully will increase sales and they can move on with the project.
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Chris and Tracey
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if they have only put down a 15% deposit they can pull out and buy cheaper.however at 40% they will hopefully be nearer completion.the projects are coming along fast.they should be completing shortly.
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Polaris have just telephoned and asked me if we woulkd be interested in buying a Polaris property- when I said we had already they said 'would you like another!'
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Jan & Mike
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I posted earlier about the article in a local paper now I'm even more concerned reading these http://www.spanishpropertyinsight.com/buff/?p=243
http://www.polarisworldforum.net/topic.asp?TOPIC_ID=5669
I think we all know what is going on in Spain and have tried to ignore the negatives as I'm in it for the long term but if PW go bust on us we are all screwed stuck on a half finished resort with no facilities, completing in 4 weeks time and getting very nervous, shutting down showrooms and offices in torrevieja and unable to pay debts to councils, rushed completions sounds like a company in trouble.
Sorry don't want to be seen as scaremongering but I am seeing things that concern me!
What do others think? can anyone reassure us?
Dan
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Although I agree Jackie you can't just ignore it, I think it is all hitting home for us now as I put all my funds in place today and transfered them to my Spanish account.
Have been waiting to complete for so long now I could do without all this but as I work in the building trade in the UK I know what is going on over here with developers, it's desperate i'm afraid!
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