thinking of buying

To those people who have never been to CDA – come visit and spend a day or two on the resort and visit some of the cities/villages in the area. I went to CDA in February this year, I stayed at a hotel in Puerto de Mazarron for 2 nights. I was expecting to see a very quiet resort, and in February it is. But I was impressed with the infrastructure already in place, and that the resort looked well maintained. Of course I had none of the expectations that the first buyers on this resort probably had. I can see why some people are far from happy compared to what was promised by Polaris, and that the investment in property so far has been “way under par”. But I’m also happy to see that many of them like what they have at the moment, and they believe in the future of the resort.

To all those who may have misunderstood the points I was trying to make to Newworld, earlier in this thread, let me be very clear.

I am a massive supporter and believer in the complex. i feel that it is a great location for a home now, offering a tranquil setting, in a truly Spanish area, surrounded by mountains, within 20 minutes of many unspoilt beaches.

My point was I personally do not want to see on the forum, people guiding potential purchasers away from CDA, with links to other properties, as Newworld was doing.

CDA needs new purchasers, and there are some terrific bargains on CDA at this time, especially with the potential of Paramount.

Totally agree, the sooner the resort sells out the sooner people like Darren will have a better chance of selling.

I am with you on that BFR!! Fingers crossed!

I just dont want people to try and persuade people to buy, just so property prices can rise. A lot of people on this forum want to keep it positive in the hope the resort will sell out. This is a little selfish.

I think that Neworld did the right thing by pointing out alternatives, such as La Torre, and dont think he should be chastised for that.

As you all know I want nothing more than a recovery in prices, to sell up and move on. However I don't want other to make the same mistake.

Darren – if you believe your own prophecy, why not sell now? You would not advise other people to invest in property on Condado, why not take the money elsewhere to invest in better projects. When you invest money there is something called stop loss. If you believe that other places have a better chance of increase in property prices, your money will grow faster elsewhere, even if you take a loss now. If you really liked Condado things would be different, you might consider more than just the economic factors, but as you clearly state that you don’t like it this should be an easy decision for you.

Stein V.

SVH---you make  sound so easy when you say ( take the money elsewhere to invest in better projects )  how do you do that when most people have mortgage on the property, that is proberly a lot more than the property is now  worth. I bought a property from a guy and he had stump 40k to his bank to bail out, so along with his 40% deposit he put down on the property it realy is not as easy as you say to as you say ( take the money elsewhere to invest in better projects.) Not everybody can do that. Maybe you could stand that sort of loss, most people can not.

Newworld - it's never easy to take a loss. But if you don't like the place, and you don't believe in the future of the resort, why hang around and loose even more? If you think that the prices will go up again, and maybe reach the levels before the credit crunch, then you should keep the property. And that means that buying now is a very good investment. Darren don't think so, he wouldn't advise people to buy. I don't agree with him, but time will show who is right.

One more thing - as I have read in earlier discussions on this forum, Darren is maybe not like "most people" on this resort. He has stated that he owns several properties in the UK that he rents out. If you buy property as an investment, you have to be ready to say "stop loss". That goes for properties, stocks etc. If he liked the resort and loved spending time there, the whole situation would be quite different.

Stein V

SVH--- I  appreciate what your saying, but most people can not walk away from such big loss its very hard , i think its a case or grin and bear it. A big problen on this forum is Darren tells people of his opinion, and when he does most people want to but the head in the sand or slag him off. He has his opinion just  like everyone else.

I do not think any one wants to slag off those who wish they had not bought on Condado. I am sure there are many who feel the same throughout Europe & possibly  the world. I think that for me it is all about people slagging off Polaris

As I have said many times. it was not Polaris`s fault. For the most part none of this financial nightmare is down to any builder in spain or the uk. It was the greed of banks through out the word that has caused this.

I fully understand that Darren could not just walk away but what he has been advised to concider is this

If your apartment has lost money. Then so has everyone else. an owner or a builder.

My son has lost £30 thousand it is it a great deal of negative equity but he has looked at houses that five years ago he could never have concidered but as they too have reduced greatly he can actually afford to buy one.  So where you loose on one property you gain on the other.

Either way Darren I wish  you all the best in the future on or off Condado.

Jan

On the theme of the thread I do think CdA is now a good place to speculate and buy on. If Paramount does come you will be quids in- if not, then thats the speculation. If you just want a holiday home then it has lots to offer and down the line will develop, just not as quickly as we all want and expected.

On the point raised by Jan. The recession was caused by lots of factors not least the Banks worldwide but whilst I dont see what has happened as PW's 'fault' on CdA, I do feel they are quite responsible for a lot of the disappointment caused. They were greedy (as a lot of devlopers were) but PW's dream for CdA was mammoth. They made the apartments and villa's as small as they could do to get as many in as possible, more so than other developers with the same foot print if you take it on a Jardin scale. Did well with the design though- have to give them that. They gave no thought to what may happen if there were delays or problems, did not consider how that massive ring road would affect Community Charges- because 'caring' isnt part of their role I know. I suspect they kept selling even when the writing was on the wall. There should have been 15 thousand properties on CdA, how many people who were buying even considered what that would mean to them? Living in a town an urbanisation really not so much a holiday resort. So a lot to answer for.

But, we are making it good and CdA has much to offer.

Bottom line - CDA is great and we love coming over on our many visits to our apartment. Each to their own but my view is that we are all grown ups and made our own decision to purchase. If some don't like it now then they need to accept some of the responsibility themselves instead of just looking for someone else to blame. Let's get on with it and make it even better.

We don't feel sorry for people who brought to make a quick buck and it is a shame Condado hasn't  so far developed into what  we were sold  (i bet a lot of that was sales banter anyway) but we are slowly buiding into a community , visit the Clover on a weekend and chances are you will bump into a familiar friendly face, yes it can be quiet in the week, but so are most of the pubs in England recently.  First thing in the morning get up on the sun terrace with a coffee and take in the beautiful views, go down the port and have tapas an a beer and watch the world go by.  Appologies to anyone of a different opinion but we love the place, no regets and cant wait till the next visit ( 5 weeks time).  Wish we could of brought at todays prices, an absolute steal !!!

hi michael..just back from having two fantastic weeks on condado with four great friends.. excellent weather the garden was looking fantastic.. visited alhama on the tapas trail last saturday night big festival on place was absolutely buzzing if you have not visited alhama you are seriously missing a trick folks loads of restaurants and bars serving loads of different tapas unfortunately we got the poorer end of  the fare superb night though remember those mojitos folks WOW...visited the port lots of new bars opened..went to the beach at bolneuvo had great tapas at the oasis watching the world go by played golf at the resort well tried to.. played tennis just a point on that while playing two people in a golf buggy male and female pulled up with a clipboard walked all around the sports zone pointing things out and writing stuff down not one to start rumours but you never know... why would they use a golf buggy ???  ..condado is what you make it there will always be people who either love or hate it but for me its a personal choice i love the place the garden looks more mature every time i visit there seemed to be a bit of a buzz in the place this time  and as usual ate to much drank to much what A holiday though...BY THE WAY DERMOTT, MARY,MONICA AND PETE LOOKED AT MYSELF IN THE MIRROR TO DAY AND ALL I CAN SAY AS THE SONG GOES....THANKS FOR THE MAMMORIES!!!!!!!! CANT WAIT TO DO IT ALL AGAIN.....stevie from glasgow....