look on the bright side

after reading many posts on here it seems most peopl are unhappy or doomed up about delays and length of time for completion.
i just thought id try to reinforce some confidence by reminding you that its better for the delays to go on whilst you have only paid the deposit and not after you complete.
when you complete you want to use it so its best if most of the landscaping etc has been done.
we purchased on roda, phase 2 and it was great as phase 1 was mature by the time we moved in, but the first buyers in phase 1 had to pput up with a building site to start with.
i would say just be patient as it will all be worth while in the end.
also the downturn in market etc is not just as bad when its just deposits that have been forked out ;-)
we are delighted with the way roda has turned out and im sure corvera will be just as good.
remeber buying a new build off plan is an investment.
use the time to get other things in place and get to know the area.

Well said arky! 

I think Corvera will be a fantastic resort and well worth the wait!

I agree too, my gut instinct is that this will be sooooo worth waiting for, I have to say I am getting a bit fed up with all the negative comments that people keep posting it would be nice if we could get some more positve comments.
We have recentley been over to corvera and we never felt disheartened the area is still as beautiful as the day we bought back in 05  (even with all the building work going on) and we are looking forward to our completion in the spring of next year, i do hope there are a lot out there who are too .

Paulineh, i know it would be nice to have nothing but positive comments on here but this is the real world..  the reality is each investor/buyer have their own reasons,expectations and opinions on what is going on not only at Corvera but on a global basis.. i do think there are a lot of heads being buried in the sand on this website with regards to this development and what is going on in the world..i imagine that there are quite a few people who bought 2+ apartments/villas on the resort that are genuinely suffering at the thought of having to complete.. the reality is these places are now not worth what you paid for them, which is fine if it is going to be your home/holiday home but not if it was part of a business venture. im afraid everyone thought that the gravy train of rising prices was going to steam on into the future but this was not to be... its worth a mention that there are many "new resorts" in spain that are now sitting half empty, where the rental demand has been massively over estimated and where owners are just sitting there with empty investments...i hope corvera does not turn out like this and if one postive can be drawn from the delays i actually hope they continue to drag it out for as long as possible to give the economies time to start some sort of recovery.... if things do continue to slide which is looking odds on then i think you will be seeing a lot of people writing off their depoits and walking away, i know im thinking about it and i only own one of them. I am all up for being positive but lets also be realistic here, things are going to get a lot worse before they get better.

regards, Dave

Dave as you said we all have opinions of our own, and I still see my purchase at corvera as being a good investment for the future, I would have thought that normally if you purchase to make a quick buck then you would not have bought off plan.
I also realise that there are alot of resorts that are now sitting half empty but they are in areas which have been saturated with resorts, I feel that Corvera is in a class of its own, in an area of its own, surely that must make it a little more special.
I also realise that the current finacial climate will affect all of us, some harder than others but if we can ride it out then we will all benifit in the future.
The last thing I would want is for anyone to have to give up there deposits and walk away only to wish they had not at a later date.
I just wondered have you been to Corvera recently?

I am not going to engage in verbal tennis on this issue, but your comment "I would have thought that normally if you purchase to make a quick buck then you would not have bought off plan." is not only insulting but incredibly naive... Firstly a lot of people have made a lot of money ("quick bucks") buying off plan and flipping on ..Infact i think it can be safely said that this was the best way to make money in a rising market with limited capital outlay and quick capital accumulation over a relatively short period... however the root of the problem in spain (and in other areas) is that after many years of great returns all of a sudden too much supply hit the market and too many people were caught holding the baby so to speak...so things were already bad before last years credit crunch began, what has happened in the last  year has now made a bad situation a hell of a lot worse.. People are not  purely walking away from their deposits because they want to, its because they HAVE to. Luckily i am not in that category , but i am  thinking about walking away because i seriously believe that no matter how "quality" the product is there will not be the demand necessary to push prices up, i think there will be serious price drops in the next  2 years and a real lack of rental yield...so it does in my view make economic sense to walk away now and wait for a better time to re-enter...now i am not saying that you or anyone else should follow that because i understand that there are people that have bought as a holiday home/ place to live so that wouldnt make sense...i was going to do the same until my business took me to the other side of the world (another factor that is influencing my decision)..A holiday home is a luxury and in times of recession its something that is no longer a priority along with luxury cars/boats etc, its just plain economics. I hope i am wrong but the evidence points to this downturn being prolonged...its worth reading the article  "you can profit from spains distressed property market" in the latest EOS articles section...on a brighter note for those of you that are looking to mortgage your properties you should be able to get a pretty decent rate in the near future, Euribor money markets are pricing in a total of 175 basis points cut by the middle of next year. regds  Dave

In your opinion, but you didnt answer my question.

I think we might be getting into a little bit of verbal tennis here.
I bought into Corvera purely as an investment - with the hogh hope of flipplng with a profit. There are many of us out there. I am sure we all knew that this might not happen but hadn't really  considered the possibilty that there would be a major economic crisis which would : a) Make our purchase unsaleable b) Reduce the price on our investment on completion c) Delay the project so that rental income for a significant period of time would nowhere near cover the mortgage costs. For those who are not buying for 'lifestyle' these are worring times.
We too , and I am sure others have considered walking away because at the moment completing on Corvera does feel like turning on a tap and draining money away .
What we all have to appreciate is YES Corvera WILL be good, but people came into this venture 3 years ago when the economic climate was VERY different and ALL for different reasons. Please lets all respect that

if you are asking when i have been there it was in 2005 and have had friends there this year. ..but what is the relevance of that?... i agree with what cabaz has said...pauline you seem to be getting offended by me having an opinion that differs to yours..i am not insulting you infact the reality is everyone that has bought there saw the potential so we are in agreement there.however the world is a lot different place now to what it was when we bought... im saying dont bury your head in the sand, be aware that if things do continue to slide no matter how good the project is you may end up sitting in a  half completed resort with insufficient facilities and a building company that is struggling...do you not wonder why all of a sudden we are getting emails telling us to get paperwork ready for completion and to make sure it is with them by december when the completion isnt until spring next year??...my guess is that they are trying to pin people down  as soon as possible to get the funds.....i guess they are not feeling too confident either. anyway fngers crossed it doesnt turn out that way and if it doesnt you can send me a picture of yourself sitting drinking a glass of champers at the 19th hole sticking your fingers up at me!

Hey people(internet "freinds").
Let's agree on one major issue.
There are two types of people that have paid money into Corvera.
1. The INVESTOR and 2. The LIFESTYLER.
I fall into category 2. and even if rentals are low for the next few years, I will find the monies neccesary to pay the mortagage and fees etc. This is because I eventually intend to live here. However, not only do I empathise with the investors amongst us (who but the Americans and the inscrupulous bankers could have forseen the crash that would effect the entire world markets) but I also thank them and really hope that they come out of this with at least their pride. Remember without the pure investor we would still be waiting for enough units to be sold for Calidona to contemplate breaking ground on the Corvera developement.
For one reason or another we are all in a similar boat so let's stick together and try to make sure that NO-ONE drowns.

Mmmm... just heard IceSave just gone into receivership. I have a certain amount of  cash saved in that bank which I was going to use to pay off remainder of flat. Also, just heard from Corvera that completion date pushed back to Dec '09. Not angry or frustrated just ambivalent at the moment.

Hey ho, life goes on, I am alive thats the main thing

M.