Valuations

Hi Everyone.  I know I have mentioned this before but it would be good for us to all share our valuation information.  They do seem to vary a bit.  I have now started to talk to banks as we sem to be approaching the end.  There are some apartments on sale at low prices but I presume that these are investors who have to get out.  Once out of the way the 'posted' prices should recover a bit.  Also does anyone have a particulary good mortgage recommendation.  Cheers Gwilym

i had my first valuation returned yesterday for 260,000.   my mortgage broker says she is trying couple more as think it will come in higher than than but for now my valuation is 260,000.

Unless you are comparing exactly the same apartments, valuations are going to be different.

For example, as far as I can see, there are two types of ground floor apartments, corner and internal. In fact, make that three, as there is a wrap-round version as well.

Then 1st floor, 2nd floor, 3rd floor, end aprtments, internal apartments etc etc.

well mines a ground floor type 7-B

has anyone else had valuations in yet?  we've bought now so i'm happy to share mine.  information is good. i'd like to know what other people's valuations are. 

although, my partner says asking people that is vulgar!! like asking what thier salary is!! but i don't care.. maybe i'm just nosy

No valuation as yet from our bank manager at Lloyds TSB in Spain but I did recently receive a letter from a bank called Caixa Catalunya offering us a mortgage and saying that they are the bank funding the Arenal Duquesa site. Now I thought it was Caja Sur that was the main bank involved. Does anyone know if they are actually the same bank? I did hunt on the internet but can't find anything that ties the two together. Seems a bit odd?

Incidentally, Caixa Catalunya were offering us based on a property valure of 228,000 but this was not a formal valuation.

This message was last edited by randl on 5/4/2007.

The original company was Arenal Sur. Arenal 2000 sold their shares to Cajaursur who now own this company.

Alan

Hi all.  Information is power.  Developers, agents, and banks have comprehensive market information.  They also know everything about use including credit checks.  We individually know very little.  Hence they divide and rule!

And yes people should share salary information.  The only person who benefits from secrecy is the employer as it prevents comparison of work/reward.

Obviously there are different types of apartment but it should not be dificult to say which valuation applies to what type of apartment

 

 

i wasn't actually asking salary information!! just that my other half said asking valuations was the equivalent.  don't need that information just  yet!!  but surely someone else out there has a valuation, what about you alan?  nothing yet? you seem to be always just one step ahead of me

suzanne

We are in block 7, 2nd floor and have a valuation of 237k.

Hi Suzanne, we have financed our purchase differently so will not require a valuation. However, I am of course very interested in the valuations.  If anyone has an apartment similar I am in Block 16 1st floor Apt B.

Also in the great countdown that's a week gone by since the conversation with my lawyer. 3 left  and if I don't here anything in that time there will be a hot phone line from Herts to Marbella!

Alan

well, i've just booked flights to go out on 8th june till 17th june (very cheap too!!  only £150 for the two of us return) in the hope that we can get on and have a look at least if not completed.

where do you know to stay in duquesa alan? i know you've been out there recently.  last time we stayed in marbella but i want to stay in duquesa this time to get a real good feel of it

suzanne

This one I can't help you on Suzanne as I always stay in Marbella also. It's a good idea to stay there though as I have not really spent enough time getting to really know the place. I am sure Justin can recommend somewhere as he appears to have a good knowledge of the area. Why don't you PM him. I'm sure he would be happy to oblige. By the way you got a good deal on your flights. Where do you fly from?

Alan

We have stayed at the Almadraba apartments a couple of times.  They are the next block along from Arenal, just down the ramp into the port.

flying from manchester 8th for 4.99 each with jet2 then return with flymonarch for 50euros each on 16th.  bargain or wot! .  now i'm scouring appartments trying to find one to stay in (as there are no hotels in duquesa!!). might hang on just in case licences come in and we can get in our own. just over four weeks to go tho so doubtful.

 

Peps

We are staying in Hotel Diana Park in Estapona for £141 for 4 nights B&B (2 of us) May 13th to 17th

Try www.alpharooms.com to source local hotels in area

This message was last edited by wflem007 on 5/8/2007.

This message was last edited by wflem007 on 5/8/2007.

Why not use the hotel on Sabinillas sea front,  The Dona Luisa.

http://www.hoteldluisa.com/

We stayed there on a previous visit and had a good room overlooking the sea. The staff were friendly despite our 3am arrival due to flight delays.         The location allows you to sample the Sabi / Duquesa nightlife without risking a breathalyser.

There are also a few hostals mentioned on  www.manilvalife.com  which look interesting for those on a tight budget.

Many people use the Diana Park , as it is really good value, but it it nearer San Pedro than Estepona and there is not much to walk to around there.

Hi everyone.

Not much posted on valuations.  I hope to have more information this week and will post it here.  Looking at the resale market there are at least 20 apartments for sale on phase one at around Euro 210,000 and I have seen a top floor south facing for Euro 198,000.  Nearer completion will see these prices fall further.

Obviously what things sell for is a true reflection of value.  I only hope that these 'investors' will soon sell and prices will stabilise.  My only concern on valuation is that it may decide the size of mortgage I can have.  By the way I do think that these apartments are a fair investment due to location and finish but only if they were purchased early.  My understanding is that most phase one buyers did get in at the early prices.  I would not want to be siting on later phases if I had paid the higher prices.

 

Some of these sales will be "firesales", (owners unable to make the final financial instalment), others from investors simply off-loading and trying to make a profit (or minimal loss).

I wouldn't be too worried on the resale prices just yet as it may involve a bit of desperation on behalf of some owners to sell off the apartments.

I think a truer picture will emege in 12 to 18 months time when everything has bedded down, the development has matured, and the clubhouse and indoor pool/gym has been built and added value to the development.

Provided that the development is well run and mantained by the Community of Owners, then we will start to see a true reflection of it's value which I think will be a good one and well worth the effort, and time.

Which clubhouse and indoor pool/gym would that be.  First I've heard of it.