| The Comments |
Everyone is entitled to comment how they wish, be it good or bad. Any apartment is only worth what it can be sold for, as is any property which may be for sale. So arguing is pointless!
gwilymashworth you have given your opinion on Arenal Duquesa but you will find that what you say applies also to the development that you have bought into in Alcaidesa, I am pleased that you used the bank guarantee associated with Arenal Duquesa and claimed your deposit back which in turn has allowed you to re-purchase 10 mins up the road. But don't believe that the rules are any different in Alcaidesa, they are not, in fact you bought at the peak so it's just possible that you have lost more money than you may have if you had stayed with Arenal Duquesa. I think Mike got upset because you made it seem like a personal attack on Arenal Duquesa , are you sure it is not just a case of sour grapes!
0
Like
Spam post or Abuse? Please let us know
|
ah interesting we only got half the story thanks for adding the missed out bits........I heard that Alcaidesa is having all sots of issues around subsidence.....my lawyer said the developer has all sorts of issues with the building works etc....anyway at least its not Arenal and the concrete skeletons ;)
Bye for now
0
Like
Spam post or Abuse? Please let us know
|
I think that when a person calls anyone "stupid" in a public forum, it is unfortunate and insulting. I am one of those people so branded, and I take exception to it. It is interesting to me that anyone should be so explosive in their language when in actual fact, how we live and what we do with our lives has no relevance to them whatsoever. At best it's an over-reaction, at worst it's somewhat pathetic. I suspect that this person has been reading our happy posts and is feeling a teensy bit put out. Margo This message was last edited by Margo on 10/2/2008.
0
Like
Spam post or Abuse? Please let us know
|
Margo
I agree and thats what I take issue with....one way or another we have all made decisions.....mine was an educated one 5 years ago as like many of us...............with hindsight anyone can jump on here and suggest the obvious, this doesnt make people stupid................
0
Like
Spam post or Abuse? Please let us know
|
Just to pickup on one item on the 'rogue' posting and that concerns the social housing reference. Right at the beginning of proceedings I questioned my lawyer about this. Her answer was that it is not quite the same as it is here in the UK. For a start they will only be sold to Spaniards and people with occupations like nurses will buy them and my immediate reaction was fantastic! It will help to maintain an indigenous feel to the area and that can only be a good thing.
Alan
_______________________
To Dare Is To Do
0
Like
Spam post or Abuse? Please let us know
|
..............and how wonderful that they will only be sold to Spanish nurses...............oh now thats got to be worth the extra €50k that we have all over spent on buying ;)
Willy mash I bet you had stayed in now?
0
Like
Spam post or Abuse? Please let us know
|
I only said that it was stupid to believe the lies of agents and developers. I never said anyone was stupid. Everyone, including myself who has purchased in Spain in the last few years is loosing, and will loose more as the market is getting a lot worse. If the developer is selling apartments for 140,000 this is what they are worth. When an agent suggests you will make a 40,000 profit just because the developer has withdrawn this offer it is plainly silly. The market is still the same. They are worth 140,000 until the economy improves which it will not do so for several years. They may be worth even less in the near future.
My postings on this site have been mainly about getting my deposit back because we, unlike many other buyers of property in Spain, had the opportunity to do so because the development was more than six months late and we had the guarantees required by law. I thought it was the right thing to do and many others did the same. I respect the decisions of others that did not but please do not try to fool yourselves that your apartments are worth more than they are.
If you bought your apartment to enjoy yourself and plan to keep it for a few years you have lost nothing because prices will eventually recover. If you bought it as an investment or to rent out part of the time you will be dissapointed. In this case my advice would be to get your deposit back if you can and buy cheaply elsewhere. Yes prices in Alcaidesa have also fallen so go get yourself a bargain if you can get your money back.
The current turmoil in the financial markets was caused by people, especially in the USA, UK, Spain, and Ireland believing the myth about rising property values. Now everyone can see that it is a myth. Prices in the US have fallen by up to 50%. They will fall by at least 30% in the UK (we are half way there already and I believe that they could actually fall further than 30%). I am not a pessimist, I am a realist. Spain and Ireland are expected to fair even worse.
We bought our top floor for 170,000 when it was just released. I thought a litle while after that it might be worth 200,000. A 30% fall from this 'value' makes it 'worth' 140,000.
I did not mean to offend anyone. I was just giving the benefit of my experience. I am not trying to be clever. Please see what the truth actually is and if you have the opportuity to get your deposit back then seriously think about it.
0
Like
Spam post or Abuse? Please let us know
|
I attach below the letter that Mike posted in the 'It's true then!!!' thread. This is what I meant when I said people who believe this kind of sales promotion are stupid. The market price is the price that the last apartment sold at. If the developer sold at 140,000 this is therefore the market price because people will not pay more. It is not a promotional price at all it is the price that the developer hopes he can sell at. To say that the 'real' value is then 220,000 and that you will gain 80,000 equity tomorrow is plain rubbish.
Dear Mike,
Just for your information, block 7 is available within this deal for immediate occupation.
As you have shown an interest in the development of Arenal Duquesa with regards to the promotional price of 140,000 euros per apartment, I am writing to advise you that as of Friday evening 3 October 2008, the bank will be withdrawing their promotional price and will continue to sell at the original price of 220,000 euros.
If you are seriously interested in purchasing one of these apartments and wish to make an immediate reservation of 6,500 euros including commission, ACT NOW!!!
A purchase today will provide you with an immediate equity of 80,000 euros tomorrow!
Should you wish to view the development personally, you must inform us immediately.
All deposits are subject to status and are held directly by the banks lawyer in their escrow account.
Kind regards
Karen Fisher
Company Administrator
Property Investments International
(+44) 7531 946 217
karen@propii.com
0
Like
Spam post or Abuse? Please let us know
|
Oh Mike, Spanish nurses only. We wish! I did hear a rumour they were selling to French maids as well. We wouldn't want that would we?!
gwilymashworth you have really confirmed what I have been saying on this thread. Yes property prices have fallen but if people have bought for their own use and not as an investment then it's irrelevant. Prices will eventually recover. I am pulling out while this turmoil continues and perhaps take another look around later on down the line.
Alan
_______________________
To Dare Is To Do
0
Like
Spam post or Abuse? Please let us know
|
Well I was told that the affordable housing was going to Firemen and the local policemen....and have you seen the local bobbies? They are usually found directing traffic on the roundabout as you come into Sabbi, blowing their whistles and directing traffic with such authority....personally I can't wait for them all to move in and I may even be tempted to let them use the pool. 
0
Like
Spam post or Abuse? Please let us know
|
Willy Mash. You are making a massive assumption when you say that "if" the last apartment sold was 140k then thats the real value.Thats a big IF. Produce someone who managed to buy it for that amount without the strings of an interest only mortgage attached ,that had such an outragous interest rate applying, that it would have the effect of pushing the real cost back up towards 200k. Also see my post on the other thread.
Property has fallen in value -no doubt- it also grew for 10 years on the trot prior to that.It is an endless cycle.
Limar
_______________________
Limar
0
Like
Spam post or Abuse? Please let us know
|
here here...tel us something we dont know mashed Willy....just in case you want to know spoke to my lawyer today about all the legal ramifications around this........and legally the bank can do what it wants as they own the properties now...BUT they cant and wont be legally bound to what has gobe before us....I think they maybe selling them off but that doesnt suggest thats what they are worth.............Limar your spot on in ten years we wil be sat here with properties worth maybe a third more but I have heard that dump the road is suffering from subsidence
0
Like
Spam post or Abuse? Please let us know
|
calm down now mike. i'm with you, as probably most others on this, but your gonna have a thrombo, and you'll end up getting thrown off not them ! ha ha. just try not to let it get to you, it pisses me off too
suzanne
0
Like
Spam post or Abuse? Please let us know
|
|
Hi all
Called into the sales office last week as prospective cash buyers ,shown which properties were for sale and prices started at 198k to 228k,they could not show me around the show house as it was locked and the person who had the key would not be back for half an hour,so the efficient lady took my ficticous name and my real phone number and said go and have a coffee and i will ring you in 1 hour and meet us at the showhouse.Guess what still waiting for phone call,priensur are a joke,with regards to selling at 140k does anybody know someone who has bought at this price its all c---p .And quite frankly I couldnt give a toss its hype.Apart from that we had a great time met new people by the pool (when it wasnt raining) and had a good laugh.
Ken Lynn
0
Like
Spam post or Abuse? Please let us know
|
hi ken and lyn,
glad you had a good time. my parents gone today to move into their house out there. might follow em out!!
As you have probably read its all been 'kicking off' here whilst you have been out there. Everybody has been winding each other up royal. I've made my own judgement on the phantom pricing as just that.
Was the road open yet ken? it looked like any time now by the pictures. Oh and the garage fobs, did you find out any more about the remote access?
suzanne
0
Like
Spam post or Abuse? Please let us know
|
Hi Suzanne ,with regards to the key fob no joy ,block 7 garage door had to be closed manually ,Diego says that it is having a new one fitted so they are nor repairing it ,day after somebody was trying to connect the wiring up .Still didnt work after that .Will now wait untill Iwe are out again before trying for the better fob.Hope your mum and dads move goes smoothly,Im sure it will.
The road is waiting for top layer ,there are guys doing the flag laying on the paths but only one side at the moment ,and its not arenal side so quite a bit of work still to do,no signs of the road having any work done to the bottom of developement,I would have thought that also needed doing prior to release of further blocks, who knows.
Ken Lynn
0
Like
Spam post or Abuse? Please let us know
|
Hi Lynn & Ken
Welcome home! Glad you had a good time out there meeting new people and having a good laugh, which is exactly what it is all about. Like you we couldn't give a damn with regards to this constant tennis game of what the apartments are worth. In fact we are fed up with all this talk of money and economic depression, it doesn't really mean anything unless you want an immediate return on your investment. The majority of people I have met have no intention of selling their new home, the odd few that have possibly caught a cold have decided to long term rent for the time being.
I am really missing my place out there  You said it rained I would gladly swap a raining day in Duquesa for a rainy day here!
0
Like
Spam post or Abuse? Please let us know
|
Hi Tracey yes i know what you mean regards postings about the price etc,having trouble with the other forom but the answer to a question you posed about lolas it is on the paseo 70 meters up from Fathoms to the right.Two very nice guys are running it .We called in on our last night Wed good fun ,we left quite early but wished the guys luck ,I think they may need it over the winter months,but hey what do I know.Fathoms quiz first Mon won a shot ,second Mon nothing.We will have to get a quiz book for Chrissy .Buster did us proud with the avon mossie repellant,
K&L
0
Like
Spam post or Abuse? Please let us know
|
Now that's more like it, a post that makes you smile  . Lola's sounds like fun, will pop in next time I'm there. Good to see you kept the Arenal Duquesa tradition going in the Fathoms quiz.....Last! The shots we had were so bad I had to make sure we didn't loose again. How are the gang in Fathoms? I don't know why I do this to myself it is just making me more longing to be there. We are booked for New Year and will be going over in Nov, not sure what week yet, when are you next there??
0
Like
Spam post or Abuse? Please let us know
|