german shepherd type dog looking for home in Cadiz

 

A local newspaper (the Argos)  has a tale of someone who was advised on property investments when the market was hot.

Thiis news article mentions her two bedroom apartment in DV which it seems she never saw  and was mislead in to thinking it was a stones throw away from the beach.

Hey !  I'd hate to have an apartment just a stones throw away from the beach.  Beside it might even get pulled down !!

Well the story goes she bought 7 homes around the globe for the purpose of Flipping.

"Of the seven homes Mrs Barks bought, the worst performer has been a two-bedroom flat at Duquesa Village on the Costa del Sol, which she bought for £211,000 and which Instant Access said was a discount on its true value."

Flipping as we know is probelmatic.  So her advisers are telling her that now is not the right time to sell.  But she does not like the fact it rents for 600 Euros and the [interest only I presume] mortgage is 800 Euros.

If sterling was around 1.40 euro to the pound when she bought it, deducing tax it seem the list price was around 262,000 Euros.  So I guess if you were forced to sell at this

time when other poor souls are also making firesales  then you've lost a packet.

Of course taking the situation in reverse  maybe now is therefore the time for snap up a bargain from the distressed seller,   if you can fund it?

It surprises me how so called Financial Advisers can make a living  from flogging band wagon investments.

 

Why do these stupid people have to drag DV into it???  I am sorry, but what an absolute idiot - I have no sympathy whatsoever.  Who in their right mind would do what she did without investigating the markets she was buying into?  And, if you have that much money to invest, you would certainly not put the whole lot into one form of investment - property!  Anyone would tell you to diversify.

What an absolutely numpty!!

This article (but more info) was in the Mail on Sunday just over a week ago see my previous post.

So that was the same article - I didn't actually find it online.

I agree with what you said earlier - DV is still a lovely place.  A property investment should never be a short term one, and it's people like this woman who have contributed to the credit crunch the whole world is experiencing at the moment.  Taking out over 1m pounds in mortgages is just plain negligent - she shouldn't have been let loose with a cheque book!  But then the banks should never have granted the loans either!

It's just annoying that DV yet again gets a mention, for no fault of its own!  Yes, there are probably quite a few who paid over the odds a few years ago, but at the end of the day, for those who invested long term, to enjoy their property, it's not an issue.

Maybe we should get it in the paper for the right reason.  I know that journalists in the travel sections do a features on places they visit.    We should offer them a free week in DV in return for a write up on the place and area.  They then get to see it for what it is.  Surely the woman should know to do her homework and visited a few times before buying!!!  That's what the experts say don't they....


This message was last edited by longworth66 on 4/8/2008.

Just read the article ...what a numpty as Jan says.  fancy paying a few grand so that somebody can tell you to mortgage yourself to the hilt and buy a few properties she will never have seen....  And then moan when her greed and stupidity begin to bite.

She is described as a vet...I wouldn't trust her with my pet hamster...

 

We have just spent our first week in our new DV home. 

Really pleased with things in general, and with everyones' involvement we can sort any remaining issues.   

I think Neale met this crazy woman by the pool.  The woman he spoke to had invested without checking out the property and had been told it was 5 mins walk from the port. She was really annoyed about the poor rental market and kept saying 'What are we supposed to do?' as though it was someone else's responsibility!  She also told him that Coto Real was an empty shell that wasn't going to be inhabited whih I know is rubbish as places are occupied there now!