More Doom and Gloom for Spain

[Lysos]

Oh Brian !. You & Polaris World. Polaris owners are so desperate to off-load their expensive to keep properties in the middle of nowhere that one has even taken out a box advert, with photo, in this week's Sunday Times - and that doesn't come cheap !.

If you really want one, keep your powder dry; soon be winter and desperate sellers will be really feeling the cold & the service charges.

[Damian George]

Hi Lysos,

Try and buy in winter should be the comment. Dont car if it is polaris world or costa del sol the problem is the same across spain, france and the UK

No Spanish Bank is lending money unless you have 30% deposit plus and no black marks on your credit file.

People who have bought in the last 2 years are struggling to complete and they are going to lose there shirts.

Good luck to all - key information to watch in all countries is mortgage data. ie if banks lend people will buy

Regards

[PeixeGato]

This is the problem we are having in the States right now.

Prices are still down, but there are people who would buy now....IF they could get financing. Its become a self-fulfilling prophecy at this point. until the banks are ready to begin loaning money again, NOBODY will be able to buy and prices will continue to fall as sellers continue to compete for ever-fewer buyers.

So we all sit and wait.....

PG

[rolls]

I totally Agree ! where are all these cheap houses ? and yes winter may bring some good deals The papers are full of reduced prices but most seem the same they were 12 month ago. I have been in Real Estate for many years being a NAEA member I did the job correct and advised many a person to stay clear of certain companies here in Spain, many of those people who ignored my advise are now feeling the hard times wishing they had listened to sense and not bought at overinflated prices as much as 30% over builders prices. Even now I am being approached via email by agents passing on properties asking can I sell a property But put your commission on top of our prices. The greed of Builders and many so called Agents who were plumbers cooks or on the dole in the UK became master builders and Estate agents overnight helping make the mess . I would say Spain is still Ok for very long term Investment but with cash on the hip you will find a good deal and maybe make short term cash but just like you did when you first came here to Spain CHECK THE PAPERWORK BEFORE YOU PART WITH CASH.

Good Luck and Blessings . JPL .

Euro select estates sl

[Magellan]

personally, I would wait until the end of next year before even considering buying in Spain. Everything indicates that prices still have much farther to fall.

[rowlandsbb]

For investors wanting a quick turn then clearly those days have gone for some time not only in Spain but UK.....unless ofcourse you are very good at your job and know what to buy and where!

But for life style buyers....life does move on and not many are in for short term gains. So if you find what you want there is no reason not to buy now, provided you make sure that you are getting a good deal
Your favourite home in your favourite location may not be at rock bottom price but I suspect that in the years to come it will look cheap
Getting in at rock bottom is almost impossible as no one knows when that will be or when it arrives......!
There is no mad rush to sell in the best Spanish locations as owners are in general sitting tight if they have no urgency to sell
The general view is that everything in EU, not just Spain, will be flat to circa mid 2010 then the market should start to move again
Next boom, who knows but 2018 + seems a good bet!

[LuckyNumber]

Please send some details to shifty@gmail.com - I'm investing in Spain and have some contacts here - Thanks :-)

[Goldberg Global]

There are some banks lending 100% in spain, the bottom is falling out the market, but there is a certain level. Yesterday I visited 7 banks, at the moment repos are not that high in the costa blanca, del sol much higher, as prices and mortgages were more ready.

2009 will be interesting, and the time to buy. 2010 I see things moving upwards. But that is only if there is not any more bad news. 2009 time to buy in Spain. If you want Spain. Some people are still doing pretty well.

Good deals to be had for cash buyers. Like the UK and USA.

[Damian George]

Hi Guys,

Brian - i like your new web site very professional - i am willing to exchange links with you if you are interested - i also will pay an IB on any referrals. I would though suggest you talk to someone about doing some SEO on the site otherwise it will be lost in google results. Also try and edit your signature to look like this.

Polaris World Properties

This will help your site and totally property attract more interest for Polaris World Spain

For Goldberg

which banks are still doing 100% mortgages in Spain - we are struggling to find lenders and currently have about 10+ self cert mortgages and 10-15 80%+ funding clients that we cant helpso if you can i sure we can work something out.

Spain is still a blood bath but i think the french market may turn out to be worse off

Regards

[Casa Andaluza]

Hey Damian,

I may have a solution for your clients, checking ne thing or two. Please be in touch

Best

Fran