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wanting out
wanting out
seems that half of people with holiday homes want out
see here
http://www.telegraph.co.uk/finance/pers ... -sell.html
see here
http://www.telegraph.co.uk/finance/pers ... -sell.html
-
Michael Crane
- CVO Oracle
- Posts: 11216
- Joined: Tue Feb 18, 2003 5:51 pm
- Location: Lincoln
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Re: wanting out
Or . . . . half the people owning homes in the Algarve want to stay. That sounds less pessimistic, doesn't it? 
Re: wanting out
Not reallyMichael Crane wrote:Or . . . . half the people owning homes in the Algarve want to stay. That sounds less pessimistic, doesn't it?
Re: wanting out
Martin The headline is actually Nearly half of holiday home owners 'trying to sell'martin wrote:seems that half of people with holiday homes want out
see here
http://www.telegraph.co.uk/finance/pers ... -sell.html
When I went to school 44% wasn't half. I suppose it could be nearly half though
Re: wanting out
Martin must spend his entire day scanning the news media for anthing that paints a gloomy picture of life and the economy in Portugal.( The torygraph is notorious for its innacurate and its poor reporting ).
One of the reasons why there are so may " holiday " homes on the market is that those who have interest only loans in Euros now find that now have to start repaying capital .
Combine this with the fall in sterling the rise in their costs is dramatic.
The converse also applies , those without a mortgage and taking their money back to the Uk can still make a sterling profit due to the high value of the Euro,
One mans problem is anothers opportunity.
One of the reasons why there are so may " holiday " homes on the market is that those who have interest only loans in Euros now find that now have to start repaying capital .
Combine this with the fall in sterling the rise in their costs is dramatic.
The converse also applies , those without a mortgage and taking their money back to the Uk can still make a sterling profit due to the high value of the Euro,
One mans problem is anothers opportunity.
Re: wanting out
I agree, anyone with spare cash at the moment can pick and choose their perfect property at rock bottom prices. We were able to buy our current property, (16years ago,)when an English family were in need of cash to keep their Uk business afloat, they got the cash, we got the house we wanted, All HappyEMM wrote:Martin must spend his entire day scanning the news media for anthing that paints a gloomy picture of life and the economy in Portugal.( The torygraph is notorious for its innacurate and its poor reporting ).
One of the reasons why there are so may " holiday " homes on the market is that those who have interest only loans in Euros now find that now have to start repaying capital .
Combine this with the fall in sterling the rise in their costs is dramatic.
The converse also applies , those without a mortgage and taking their money back to the Uk can still make a sterling profit due to the high value of the Euro,
One mans problem is anothers opportunity.
Re: wanting out
I think you have missed the point that EMM has made and you seem to be agreeing with something that he hasn't said?Jaylay wrote: I agree, anyone with spare cash at the moment can pick and choose their perfect property at rock bottom prices. We were able to buy our current property, (16years ago,)when an English family were in need of cash to keep their Uk business afloat, they got the cash, we got the house we wanted, All Happy
If you look round at property prices in Carvoeiro you will find that there are not many rock bottom prices (yet). There is however a lot of unrealistically overpriced property.
Re: wanting out
Jaylay has got it absolutley right.
If there is anyone out there seriously looking for a property do NOT be put off by the asking prices. They in many cases an out of date aspirational guide.
As has been said many times before agents do not are or not kept up to date by sellers.
If you find something that you really like make an offer you may be pleasantly surprised.
We sold an fantastic new apartment in May ( not in Carvoeiro ) which had been reduced by 100K as it was the last one in the development and the developers wanted a quick sale.
We certainly have seen an increase in sales in 2011 because sellers are being far more realistic .
If there is anyone out there seriously looking for a property do NOT be put off by the asking prices. They in many cases an out of date aspirational guide.
As has been said many times before agents do not are or not kept up to date by sellers.
If you find something that you really like make an offer you may be pleasantly surprised.
We sold an fantastic new apartment in May ( not in Carvoeiro ) which had been reduced by 100K as it was the last one in the development and the developers wanted a quick sale.
We certainly have seen an increase in sales in 2011 because sellers are being far more realistic .
Re: wanting out
I beg to differ EMM, I don’t think that people can pick and choose at rock bottom prices In Carvoeiro.
A lot of property in Carvoeiro is overpriced because that is what the vendors want for it, But is not necessarily what it is worth. Even with the exchange rate back from €’s into £’s I fear some Ex Pats are still in the negative equity trap.
There is a big difference between a development company knocking 100K of an end of line property (to get rid of it) And most individually owned property that might be being sold to try and raise money to pay off a Mortgage etc.
One other point. Are you an Estate Agent or involved in property selling in the Algarve? Was your comment "We certainly have seen an increase in sales in 2011" An individual remark/opinion or have you got access to sales figures from an official source?
A lot of property in Carvoeiro is overpriced because that is what the vendors want for it, But is not necessarily what it is worth. Even with the exchange rate back from €’s into £’s I fear some Ex Pats are still in the negative equity trap.
There is a big difference between a development company knocking 100K of an end of line property (to get rid of it) And most individually owned property that might be being sold to try and raise money to pay off a Mortgage etc.
One other point. Are you an Estate Agent or involved in property selling in the Algarve? Was your comment "We certainly have seen an increase in sales in 2011" An individual remark/opinion or have you got access to sales figures from an official source?
Re: wanting out
I do some work with an agent supporting their activites , I can speak from personal knowledge.
It could well be that Carvoeiro is no longer fashionable and is not attractinve to the new type of buyers in the Algarve .
As to your point regarding the local Carvoeiro market lets hear from buyers or sellers with their own reports. How many sellers have actually turned down offers and vice versa.
Estate agent windows do not tell the whole story or create a good impression.
There is one in Carvoeiro , still with photos in the windows and weeks of old post in the doorway.
It could well be that Carvoeiro is no longer fashionable and is not attractinve to the new type of buyers in the Algarve .
As to your point regarding the local Carvoeiro market lets hear from buyers or sellers with their own reports. How many sellers have actually turned down offers and vice versa.
Estate agent windows do not tell the whole story or create a good impression.
There is one in Carvoeiro , still with photos in the windows and weeks of old post in the doorway.