Washing Machines and Tumble Dryers

Just got home today and this email was waiting for us

Today MRI have been advised that the developers for the Almanzora Country Club are now awaiting the approval of final documents from the Junta de Andalucia.

Things are looking good - Roll on September !!!

Cant wait for the end of September, by then either we will have had good news and if we haven't had any good news then I'm pulling out.

Rowlandsbb seem to be pretty confident but on the most recent threads updated today its full stuff saying its not going to happen and for me September is going to be a big month either way.

We visited ACC in Feb 2005 and decided to buy. We put done the deposits requested and then building stopped in the October.

Since then there has been speculation and dates banded about.Our 6 month post contract period has expired.

We made enquiries at the beginning of July as to the situation and these took a month.

The reply we got from our agent and an independent property expert in the area, hired by us, was to pull out of the development now.There is no firm start period let alone date.This development could start again and it would not be unrealistic to wait 2 years for this from today.

There are several reasons for this including a political situation.

The agent and independent property expert do not know of each other and both reported back the same thing.There is no realistic date on the horizon.

Building will NOT start in September.For this to happen there has to be approval in place by 31st July.

It was not....Therefore building will not start on Monday 4th September.

If there was a realistic start date on the horizon ( such as 2007) do you not think that HUMA would have announced it with another big brochere etc? 

I have also spoken to an owner at MAZZARON.This is the other devolpment HUMA built.

Their advice was dont buy....withdraw....get your money back and buy something else.......

........It is a buyers market in this area at present.

I hope that those purchasers staying in are rewarded in the long term and the last thing we wish is to see fellow Brits out of pocket due to  a course of Events in Spain beyond their control.

The very best of luck and fortune.....But be careful.

Well, so much for September.   With respect to MRI, the Old fiddle is playing the same tune by HUMA.  I was over there in May 2006, and I was promised faithfully that building would resume by September....That was September 2006...Then it became Christmas, then I was told the new year, then May, now back to september again.   And wouldn't you know it, the rug is being pulled again.   The same old line 'As soon as the plans are reviewed'....I guess that's it for me.  Sorry,

Les.

Don't panic Les.  There are a lot more so called independent experts who are saying September than not    The truth is that nobody knows.  If you feel that you must pull out and move on then so be it, but don't base your decision on rumours.  The fact is that there are no facts, only speculation (my agent advised me to pull out, but when I told him that if I did cancel then I wouldn't purchase another property in Spain, he soon changed his advice - he now regularly emails me with 'encouraging' news about ACC).

Mick

IF SOMEONE CAN ANSWER THE FOLLOWING IT MIGHT HELP:

OUR SOLICITOR HAS STATED THAT HUMA STARTED TO BUILD WHEN THE LICENCES WERE NOT IN PLACE.

WHY DID THEY DO THIS?

WHY HAS THERE BEEN SO MANY FALSE STARTS ON RE-COMMENCING BUILDING WHEN AGAIN THE LICENCES ARE NOT IN PLACE?

WHY, WHEN HUMA WERE IN BREACH OF CONTRACT, DID THEY NOT CONTACT US TO APOLOGISE AND EXPLAIN WHY?

WOULD YOU BUY A PLACE IN THE UK, OR ANY PART OF THE WORLD, KNOWING BUILDING PERMISSION WAS NOT GRANTED IN ITS ENTIRITY ?

WHY WILL HUMA NOT SAY WHAT COMPENSATION BUYERS WILL RECIEVE?

WHY WILL HUMA NOT GIVE US OUR MONEY BACK PLUS INTEREST WITHOUT GOING TO COURT AT A COST OF 5000 EUROS?

A FELLOW BUYER WITHDREW IN FEBRUARY AND DOES NOT WANT INTEREST OR COMPENSATION JUST HIS DEPOSITS.WHY WONT HUMA GIVE IT TO HIM AND ITS NOW AUGUST?

DO YOU REALLY THINK THAT IT IS GOING TO HAPPEN IN SEPTEMBER WITH A FAT HEFTY PROFIT EVEN THOUGH ON THE LAST WORKING DAY IN JULY WE WERE NO FURTHER FORWARD?

FOOD FOR THOUGHT?

SORRY BUT WE HAVE TO FACE UP TO THIS SITUATION NOW.

ITS NOT A GOOD ONE.

AndylynnW

You say that you have to face up to the situation now, but I thought that you had faced up to what you believe the situation to be, and had decided to pull out.  I'm not knocking your decision to pull out, in fact I wish you all the best, but how would the answers to the questions that you posed help you?

Mick

I STILL AWAIT WITH ANTISIPATION THE FINAL GO-AHEAD,I STILL THINK IT'S A GOOD INVESTMENT AND STILL PROMISES TO BE A GREAT PLACE TO SPEND SOME TIME OR EVEN LIVE THERE!

AS A RESULT OF THINGS NOT GOING TO PLAN AND THE PROPERTY'S NOT BEING DELIVERED ON TIME [GIVE OR TAKE A YEAR OR TWO] I STARTED ON A NEW PROJECT IN THE U.K WHICH IS A LOVELY OLD FORMER COACH HOUSE OF 300 YEARS OLD THATS GOING TO TAKE ME 2 YEARS TO RESTORE AND SORT OUT,AND THEN AT THE END OF THAT A.C.C SHOULD BE WELL AND TRUELY SORTED OUT!! - GIVE OR TAKE A YEAR, I THINK IT WILL BE NEARER TO 1 YEAR THOUGH!

FINALLY IF YOU WERE OFFERED TO PURCHASE IN SPAIN AT 2004/5 PRICES OFF PLAN ON A DEVELOPMENT JUST ABOUT TO START LOCATED IN A NATIONAL PARK WITH NO HIGH RISES AND A A LOCAL GOVERMENT PASSIONATE ABOUT NOT OVER DEVELOPING IN A COUNTRY THAT SEES MUCH HIGHER PRICES AND A LOT LESS BUILDING CONTROL INTHE PAST,WOULD YOU BE TEMPTED TO BUY, EVEN IF YOU HAD TO WAIT A LITTLE LONGER? ?

Hope the new project goes well

ACC-I agree entirely with you

Let's hope that the permission does come through in September 2007 and that the Junta in Seville is more efficient than some of UK planning authorities!!

Mick,

These were questions that we asked ourselves and that we could not answer.

As we could not answer them we withdrew.We would not stay in this development after receiving the information we did.

The old chestnut of getting a property now at 2005 prices has worn thin.If prices continue to drop themn 2005 prices will be soon with no building!

Thank-you everyone for the kind wishes.

May we wish you all the best for the future in this venture....Promise this is our last message ! 

I'm no expert !
But I'm not so sure prices are dropping. They may have levelled out a little, or, not increasing as they did. The prices we have paid on ACC are still very very favourable. Try trolling through the numerous web sites and see what you find that is comparable. - Very little if anything. The odd 1 bed, 1 bath apartment.
If you are in it for a quick buck/ fast turnaround then maybe you've missed out. There again, if the predicted demand for the ACC area is there because of new building regs and controls then we are all winners. Well, those who have stayed with it.
Sellers are not really giving anything away just yet. Occasionally a seller has to sell quickly and so you get a good deal. Guess as a buyers market you negotiate hard for your bargain or move on.
Demand for properties will come back. Many potential investors and private buyers are just a little cautious at the moment (enough said on that subject.) It is also the investors that buy the land way ahead of time.
Remember, the land is not going to be available anymore for non stop building. (Apparently) - this will push prices up - BUT it's in the long term.

Very good luck to everyone whatever your decision.

Amen.

You are right to be cautious about what is happening to prices in Spain, and just as in England, different regions, and parts of regions will be different.  The point I was trying to make in my earlier posts is that prices are certainly not increasing - I would say at all in the region, and there are many good buys, including distress buys where people have overstretched.  I can assure you, that what I said about our development is true - the builder is selling the remaining apartments for less than we paid.  And, I have to be honest, as a buyer in Almeria, I am sometimes horrified by the low prices if you do an internet trawl.  There are a lot of two bed two bath apartments quite a bit cheaper than we paid for ours. 

The point remains, if you stick with ACC you may have a good buy in the end, but you may miss out on some of the bargains which are currently available - especially around Vera, front line or second line.  I too have no doubt house prices will recover - these things are cyclical, so those in for the long haul will be fine IF ACC gets built.  If it doesn't people may find they have missed out.  I would also say that you have to be realistic when you look at resale prices.  The small units on ACC are VERY small compared to a lot of developements so if you convert your thinking to price per square foot they are less attractive.  And, the more properties they build on one site, the more will go straight on the market, and the more prices will be depressed.  This is what has happened in Florida.  Sure, people bought at 2004 prices - then prices rocketed - and now, in 2007, they are back to 2004 prices!!!!!  I am sure they will rise again, but you need to be realistic both in terms of prices and demand.  Stay with ACC if it is what you want to do - but don't do it because you think property prices have gone up!!!!

Explore all options!!!!

Best wishes.

Roly2    

The good thing about property is that everyone has their own view.....just talk to your friends about UK property!!

But the basics for this area between Aguilas and Mojacar are positive;

The new motorway is open

The route of the Spanish High Speed Train [ AVE] from Murcia to Almeria is about to be approved and there will be a station near  Vera Playa [ only one between Murcia & Almeria]

Madrid [ for the Spanish to visit] will then be 21/2 hours away

Improve communications and you improve economic activity and property values follow

The Spanish Prime Minister has bought at Vera Playa......some say that is why the AVE will stop there!!!

For most of us buying in Spain is a ' life style ' decision and if it is a good investment medium to long term then that is a bonus

I agree with all that you say about the region, but I also agree with Roly2 - while people are waiting and waiting - they may be missing some good buys.  I am going to look property at Mojacar Playa.  When we first looked at the area - these seemed expensive, but now they don't.  Is that because prices have flattened/fallen - or am I just richer? - I don't know.  

Agree also that if you want to stay with ACC because you like it - then do.   Property profit should just be something in the back of the mind - not a driver for purchasing at the moment.   

Brian

Search as I may (and believe me I've searched), but I can't find a semi detached, or detached, bungalow type property, any where in Almeria, for what I paid for my Tarifa (116000€).  This is not a challenge , but could someone please point me in the direction of the websites offering comparable properties (i.e.  new build ((not more than 3 years old)), min, of 2 bedrooms, detached/semi detached, some outside space ((not much as it is only for holidays)), on an urbanisation, close to motorway links, with a max. price of 116000€).

Looking forward to your replies

Mick

First, you may well find that if you put an offer in for these more expensive properties (and I admit, not much in the way of detached properties for 116 euros - but there wasn't in 2005 was there????), that owners are very willing to accept a lot less than the advertised price.

Any way, a good place for a quick search would be the viva-almeria property for sale site.  You might be interested in the Almanzora properties (not ACC -there are plenty of smaller developments around the town) , 55 sq metres so small admittedly - but plot size of 80 sq mt, which are on offer for 61 - 90 euros.

Also of interest, though a bit further inland, the properties for sale on the members property for sale site here (Eye on Spain).

Front line Vera properties - which should benefit from the train etc - also look very inexpensive. - 2bed 2 bath 140 euros.

You might also find the  article on Eye on Spain's general notice boards (to the right of screens) very interesting.  There is a direct link to Spanish property update.  You have to decide who you are competing with.  Will the fact that you are a semi or detached, compensate for the glut in two bed two bath properties? (see article)  I don't know the answers, but I am pretty certain, that there is no quick money to be made at the moment!

Roly2

Hi Roly2

Thanks for your reply

I've search the sites that you suggested (including this one), and can find nothing suitable.  The property must not be an apartment, must be fairly modern, and my maximum budget is 130000€ inclusive of all taxes and fees.  This purchase is not an investment (although I'd prefer not to lose too much on it ).

Mick

Think thats 30 all  with Roly2 to serve, its a close call

New balls please

I know that it may not read like it, but I am serious   If I can find a suitable, alternative property, then I'll be jumping ship as well 

Mick