Update

To Jeansis,

Hi Janice i was trying to find out some info on El Raso and a s you seem to have a wealth of knowledge and also have a villa there(which helps), could you please tell me if correos deliver there yet?

A client ask me the question via e-mail and i didn,t know.

enjoyed your iteniray on your visit here and agree with you on the market street restaraunt in San Miguel.

yours

Georgia

Hi Guys,

Do any of the agents or anyone else know what the bank valuations are per m2 on the area of Elche,Alicante.

Went to value a property today,that was an old chapel dating back to the moors and christians.

After a lot of walking around and head scratching i scuttled back to the office,first time in 18 years totall flumaxed by a listing and it has been partly reformed to make things worse.

Help please!!!!!!!!!!

Georgia

Hi Georgia,

Don´t know how this is goin to look on the forum regarding formatting but here is a guide I use for both new build and resales before I add variables such as pool, condition location/position etc.  Hope it helps. Gillespie

Yup, smiley has a point there, what you need is a valuation from  - 1) A catholic priest - 2) An Imam - 3) An atheist - 4) A tourist board official, then add all the values together and divide by 4

On second thoughts, better wait for smileys contact to report back!!

Thanks guys,(smiley and gillespie)

I really appreciate that,thought it would be a stab in the dark but as usual got the answer to my question again.

Gillespie

Are you using valuations for the constructed area only?

What do you include for terraces and garden or plot size?

Thanks Again

Georgia

Hi Georgia,

The suggested m2 prices cover the total build area including terraces and standard plot sizes.  I add a bit more if the plot is larger than average.

If there is a garage I work on 400€ psm.  Pool means + €10,000 approx..

Then it´s down to aircon & furnishings etc.

I shall see if I can find a land only value psm so keep an eye out for that.

Gillespie

Thanks Gillespie,

I think i may be getting closer to a figure now although the vendors might not be so happy with what i come up with after "we want as much as we can get as it must be worth loads" conversation yesterday!

It is a beautiful place and do feel humbled when inside,but it does need some work doing and has been converted into 3 bed 3 bath.

It sits on an orchard of about 2500m2 which adds to problem with calcs and also historical aspect.

any more help would be greatly appreciated.

Thanks again

Georgia

Hi Georgia,

I think you are in front of a difficult situation..... historical value.... etc...... orchards.... I really do not know how to help you...... are you anywhere close to know how much the owner pretends to get for the property?  Pluff.... maybe compare the cost per sqm with new build, but then how to do? substract for the antiquity or summ because of that if there is any historical value?  The price of the orchards must be easy to value because of the surroundings.... some of that people receive grants from the UE.....

I wouldn´t like to untangle that gordian knot...... hell.... there could even be a ghost or two in the deal and nobody knows...

If its any help land not built on and including gardens etc around here would value at 300 euros per sqm. With regards to the building although its run down, there must be historical value and may even attract certain legislation with regards to the rebuild etc.

I think if it were me I would plump for a mid figure as build quality is taken into consideration when valuing.

Would a local bank help you if you have a nota simple??

Hi all,

Thanks for all your swift replies and help.

Have tried going down the route of pre val but as you said smiley the banks are not that keen.

Gonna give them a educated decision today on price based on everybodys advice and help.

If they turn around and say they have changed there minds and don't want to list it after all this you may read about a moors and christians re enactment in the papers.

Thanks again Guys

Georgia

Hi JANICE

YEP,sharpening my sabre as we speak.

Had the police in yesterday for their annual protection sorry i meant contribution to the magazine and benelovent fund.

Did you know that a hotel chain from Benidorm have bought the Campamor hotel on the beach at Guardamar and are going to knock it down and build a all singing all dancing 5000 room complex on the beach front there.

Apparently according to the local police this is good for the town,what do you think?

Hop you are well

Regards

Georgia

Haha loved the pic - I reckn its from a brochure! I had a good one yesterday. Went to notary for a completion and usually they take most of the day, all hanging around for really no good reason.

Anyway 11 of us had turned up, me, mortgage broker, 2 buyers, 2 sellers, 2 lawyers and 3 peeps from the bank. We had to wait for an hour or so for the guy from the sellers bank who comes to redeem their mortgage.

Anyway buyers bank goes through the forms, they are signing their life away when this form is produced asking for weight in kilos, if they drink how much, if the smoke, blood pressure and that type of thing. Well this is the first time Ive seen this so we are looking on bemused when buyers are asked their height in centimetres!

Well the female we could work out but the guy was 6ft and we are all trying to guess to the nearest cm when one of the ladies pulls out a tapemeasure from her handbag! Of course we all wanted to know why she had this in her bag and she said - with very red face - that it was for measuring furniture, but I reckoned it was to measure any male conquests!

But that wasnt the end of it. The buyers had in their posession a cheque for 26,000 euros to make up the sale price, basically it paid for the purchase costs.

Except the buyers bank forgot to collect it after signing and left, leaving us with this cheque!

How on earth can the notarize a sale and not go through all the monies is beyond me! I did try to get hold of it on the promise of paying the bank in the next 20 years but to no avail!

Is there any sense to this business anymore!!

A week ago I had 2 lots of clients out looking in response to a promotion I ran in the UK for Polaris World apartments.

Both couples paid for their entire trip and even bought me lunch (twice) I showed them exactly the apartments they enquired about at €132,000.  On the last day  we went back to Polaris HQ to choose one of the two apartments they had reserved the day before.  Guess what? after loads of discussions they decided to leave it and go back to the UK and think about it.  No problem for me except I would have staked my life it was a done deal.  I called them yesterday and they were very polite but said they had changed their minds and where not going ahead after all.  I was confident right from the first contact with them they would buy and so were they.

To my amazement, this morning a very nervouse Scottish lady and her daughter wandered in to my office and said it was the last day of their inspection trip with one of my competitors and they had the day off.  They came to view resale townhouses in the area but didn´t like what they saw so their agent gave up.

I could see they were very stressed and asked why they wanted to buy, they said for the future to get on the ladder as in 5 years they would retire here.  They weren´t fussed about holidays in it.

I suggested Polaris World, not because they were golfers but they could buy a new build apartment for €132,000 less than their budget and it would see capital growth over 5 years + a rental income of a low estimate 3-4k per year.  I had no intentions of selling to them but took them to see anyway. I could not believe it when they said they wanted to put a deposit on an apartment.  I hoyked them to one side and said "there was no need, go back home tomorrow and think about it for a few weeks, there are loads to choose from and I think they are too nervouse to make any kind of commitment."  NO they wanted it and signed the purchase contract.  I told them in the car on the way back to my office that they can cancel anytime, but no, they were happy with their purchase!

So, how can we predict this business anymore - the sure-fire buyers weren´t and the nervouse strays were!!!

I got no elation or satisfaction from this sale because I don´t think they should have bought anything on the last day of a failed trip.  But who am I to judge anymore.

Yours Truely

Confused of Mar Menor!