Calling an EGM

I believe prices have dropped since we committed to the development back 2 years ago

can anyone confirm?

Tks Adrian

I have sent you a PM Adrian. And I would be really interested to know if any one has more information on this?

Keymare advertises a discount of 7% in its website.

The bank valuation of our property has come out approximately 5% higher than the original price!

Thats fantastic news Maud, thanks for letting us know.

Tricia that must be good for you also ,and with no exchange rate worry or future exchange rate problems regarding being paid in a different. currency than your mortgage,nothing has really changed except your perception of the market .Keymare have to move the unsold properties ,this will have an effect on the local market ,but ong term ,they cannot afford to wait around. I suppose it is like buying something in one shop and then seeing it in another cheaper,happens to us all the time .
                                                                                                                       Take care Ken


This message was last edited by kenshaz on 5/29/2008.

Youre right Ken, thanks. Can move forward now and enjoy our future stays on Veranda. As I said previousaly this is a long term thing for us and not a business or investment project, but we were concerned about prices and valuation for mortgage. Will contact my mortgage broker early next week and get things moving offically and fingers crossed that all goes through with no hiccups. We have flights booked for August and are looking at october also (flights somewhat expensive), but will see. Take care and thanks to all.  Tricia

Hi all,

Just returned from a weeks stay in Spain and Verandah is looking fab - we went to sort all our NIE numbers etc out but whilst out there was able to look round our property - before this visit I was a little anxious that all prices seemed to have dropped - but seeing Verandah again like Tricia we have not bought to make a quick profit and you would not buy in Spain to do this - Verandah is small but perfectly formed and thats why we bought on there - hired a car for the first time and have been all over and had a fabulous but hectic week - should be able to put some pictures on later this week - on husbands phone.

The only problem we have come up against is when we approached bank for subrigation of builders mortgage as you can save on set up costs unfortunately the bank that mortgage is with have come back with quite a substantial lower valuation but our solicitor and Key Mare are trying to sort this out  and I have no doubt they will - I see Mauds came back 5% more which is good news I would be interested to know what bank and anyone elses experience.

Sue

Hi Sue, so glad to hear you had a good trip and enjoyed your visit to Veranda. And I do like your description of it being 'small but perfectly formed'. Would love to see some photos if you get a chance. 
A bit strange that the valuation from the builders mortgage came back below the original valulation? I thought that at least with them the price would remain the same if not better???   Maud didnt say who did her valuation. 
When do you hope to complete Sue? Are you planning to go out again? 
Anyway best of luck and hope all goes well, let us know how you get on. Tricia

The valuation was for subrogation by banco popular!

Good news from Maud - maybe there is light at the end of our tunnel - if Banco Popular have valued yours at 5% over - our valuation from Banco Popular came in at quite a substantial drop to the price we have paid but should have some news later in week at KM were meeting with Banco Popular and our Solicitor as we would like the option of subrogating mortgage - as it is at present they will not lend us 70% of our purchase price - will let you all know - maybe there has been a mistake!

Thanks Maud and Sue, we would appericate any updates.