Just back from Corvera

Hi All

Just back from Corvera and I am glad I did for my own satisfaction, as a P3 buyer I am annoyed that this has not been started but after a long conversation with Celia in the sales office I took on board her comments, which is if 1000 homes are up for compeltion and only 400 have, then you will have cash flow problems and can not take on another phase until movement with P1 and P2.

As to facilities, yeh they could be better in how it was sold to me, but take away De Vere hotel and the clubhouse which is partial built, it's not looking as bleak, and I was told they will have it completed by the end of this year,  on talking to people on Corvera, they where of the same, I played the course and although needs some time to be mature it was good and very enjoyable, apart from my golf !.

Celia did offer us an option to go into a P1 or P2 and took time to show us around other properties, she answered the questions put to her and was not struggling with answers, I am more positive than before and do feel the new airport will be the key in a years time to bring in new business to our areas,  I hope that this will allow P3 etc then to be back on the table.

In all yeh still frustrated that I can see the hill that is waiting for P3 but positive with Corvera and I will look to sit it out for the airport that I feel will kick it back into play for all.

I hope this helps some of you who are like me,

K.J.

 Hi KJ

Do you trust them?

Twofish

A fair question, but I believe they are out to complete the project and as I stated the 600 that have now had the places built are holding up the rest of us, no different than a house buying chain, nothing is 100% in life and we will all take chances, I understand there must be personal problems for some that cant complete but also some sitting on the fence for various reasons.

It makes me sound like a sales rep for them but that is very far from the truth, I just don't see a way forward without movement, I am now looking at crossing into a deal with P1 or P2 and knowing that it is still not what I wanted but a compromise for me, I saw work being carried out there, although may be maintenance, but it proves they are not dead and buried, I had spoken to a couple on the golf course (only open to us) who spoke highly of corvera and did not understand why people where compaining, apart from the clubhouse issue, they loved it, the sleepy spanish town near by needs to have more facilities but again I believe when the airport is finished some time next year it will open up the area and we are first in line, that as I said before will be the key for Corvera, time will tell.

Lastly if the finances are in a mess overall then what is the point of trying to sue them, as my spanish solicitor pointed out, I have a better chance of winning as I do not have a property built, mine is still a vision !.

K.J.

KJ - wish you well with your decision to switch to a P1 or P2 property,  there are as you know plenty available - you can have mine if you like!

Without getting into the same old debate over why some of us refuse to complete, as i understand it if you are on P3 the lack of any building to date means you can invoke your bank guarantee to secure a return of your deposit thereby giving you the freedom to purchase any of the properties available and probably on much better terms than a switch?

This option does not apply to us non completers whose properties have been (sic) 'finished' hence we have no choice but to pursue a refund through the painfuly slow spanish legal system. 

As for your 'vision' i truly hope it comes true for you but remember the old saying - 'there is none so blind as those that will not see'

Regards

KRW

Ok, taken on board and I wish you well with your refund.

K.J.

K.J

If I was a betting man I would put my money on Corvera`s Hotel being built long before the airport opens

I believe nothing at all is happening there just now

From what I have read, work seems to have come to a stop awaiting a decision from Brussels.   The finance is there but no one is willing to actually hand it over until Brussels have confirmed that it is legal.  I read over a week ago that Brussels only had a few more days (must have lapsed by now) to make a decision.  If they did not the finance package would be deemed legal by default.  Please correct me if I am wrong.  I cannot see the airport being allowed to fail, far too much money has been ploughed into the infrastructure and construction to date.

Hi

I can only report what I saw and that was a airport in the making, I have not heard that work had stopped, in fact there are workers from the airport staying long term at Corvera !, and again I was informed by the sales office that the plan for the airport was to be up and running for this time next year, as to what would be or all of the airport I suppose is anybody's guess.

We can all speculate, but at the end of the day it comes down to see for yourself and if enough of us are going to Corvera then they will be actual reports rather than if's and but's, I welcome that point and look forward to personal views that are and have visited Corvera.

I agree with Anita that for the airport to fail would bring chaos to this area and stoke up more problems for all, I trust the people behind the scenes will know this and continue with the plan as fragile as it may be.

K.J.

If the sales people at Corvera told me tomorrow was Friday I would check the calender

I dont think the airport will fail what I am saying is it will be a good good few years before it is operational 5 at least at this rate in my opinion

HI Carlos4

Have you had a bad experience with the sales office !, how do you base your 5 year plan for the airport !, I understand we are all in a load of crap,  but nothing stops because that's the way life is, they have not boarded up and gone away as I see it, things are slow or temp hold for varied areas to be resolved.

I will weigh up all options but with a view that Corvera will come good, and I think within 2 years.

K.J.

Interesting news item from Simply Networking:

http://www.simplynetworking.es/news-2945-31-corvera_airport_project_honoured_by_business_associations_the_regional_govt_and_the_banks.html

Starts off very well :-) then ends not very well :-(  but I guess they have to present a balanced report!

It seems that the final paragraphs implying that the regional government may have been guilty of extracting funding in a dishonest way, perhaps by heralding the importance of the region in an overblown manner based upon unrealistic assumptions of tourist growth and international interest.

This same regional government is very unwilling to see it's local business dignatories lose to reasonable legal demands based upon statute law.

It's a house of cards in stormy weather that will take years to rebuild.  Disreputable business will have burnt the fingers of many foreigners who will no longer trust the Spanish system.

Sorry KJ. I do not think that Corvera will come good at all in the foreseeable future.  Why on earth will it?  There is a massive oversupply of this type of property and without the brand backing of De Vere it has nothing to distinguish it from the masses of other resorts in the region.

I dont really know why people keep saying Corvera will come good when the airport opens anyhow

The reallity is they are trying to sell properties at least 50% over what they are worth in todays market

Would anyone go to the local garage and pay £10000 for a car only worth £5000 i doubt it (well maybe a couple on this forum)

The way its going Corvera will go bust (undoubtadly) what happens then is anyones guess

People keep talking from there hearts and not there heads when they try and convince themselves everything will be ok

Another interesting article today about the Cajas' initiative to try and boost the rental market to offset some of the cost of all the property on their books:

http://www.simplynetworking.es/news-2997-31-cajas_looking_to_rentals_market_as_balance_sheets_groan_beneath_the_burden_of_property_assets.html

Maybe there is a hint of a silver lining behind the cloud?  Who knows..

For me - I'm staying on the positive side of the fence where Corvera is concerned and am looking to the long term.

Christine