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House Price Crash Forum


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Everything posted by catara

  1. This is like saying: you had enough cocaine, now try some crack...
  2. I think that real investments are now appearing in the USA market, if one is willing to do a thorough homework. Pieces of land in Florida which sold for $50000 in 2005 are now around $15000 and decreasing. Buying cheap in good area of USA is a good deal, whether the USD tanks or not. If it tanks one can use the Pounds to build a nice retirement house in Florida or Arizona.
  3. What should we understand? That the government and people in NOrth Morocco are corrupt and the people in South Morocco are not corrupt? Morocco will be a tourist attraction in its entirety or will not be a touristic attraction at all.
  4. If you keep it more than 10 years and do not expect rental income, than it is an excellent purchase. Just expect some possible delays as the builders might start to go bankrupt in Spain...
  5. I agree that the location is very nice, I have an uncle living nearby and the view is breath taking. If Romania becomes a genuine touristic attraciton, your investment will do well. Good Luck!
  6. Nobody can commute from Brasov to Bucharest. Not even in 10 years from now, when the highway MIGHT BE ready. There is big pollution and crime also in Brasov, where tens of thousand of workers lost their jobs in the last 10 years. it is true that many of them now work in western Europe. It will take a long time for Brasov to have a proper industry again. So Brasov is far from being affluent. I think Cluj Napoca is a better bet, they have the second largest university and a larger middle class. Luxury apartments in Brasov might be attractive for tourists. Why don't you purchase some land in Bran area and then develop a resort yourself? The building cost in Romania are around 500 Euros/m^2 for a good quality house and the land can still be had at 40 Euro/m^2.
  7. By the way, I would advise you to better buy something in Poiana Brasov, there are some projects who were supposed to start when I last checked. Poiana Brasov is the only acceptably competitive ski resort in Romania.
  8. All my family lives in Transilvania and I know what I am talking about... I wanted to buy in the Avantgarden project in Brasov and I know lots of Real Estate agents in Brasov who said the same thing, that the rents in Brasov for a 1 bedroom apt. are less than 250 Euros/month. Do not confuse Brasov with Bucharest, they are 170km apart. All the industry in Brasov is closing and local people in Brasov are quite poor. But it is your business where you buy and how much you pay.
  9. Where in Brasov? £1500 sound like a whole lot of money. I know Brasov very well. Romanian tenants cannot afford to pay more than 200-250 Euros/month (i.e. 120-150 £/month).
  10. I agree that the Saidia investment will be better in 10 years from now and will produce a better rent/price ratio.
  11. I am planning to build something for myself, my mother would also like to retire there. So 2 of the parcels I bought will be used by me. The rest I am planning to sell after I decide where to build. Ceara and Rio Grande del NOrte are the two areas I researched. Rio Grande del NOrte has had about 3 years of price rise, Ceara has started to grow more recently. What kind of place do you like most: windy for kiting, calm for swimming, diving, with interesting rock formations?
  12. Two agents who sell in Canoa Quebrada: [email protected] (Riviera Canoa) Paulo Lima [email protected] (Paraiso de Canoa) Unfortunately prices went up quite a lot in Canoa Quebrada recently.
  13. There is an English translation if you press the British flag.
  14. Look for example at http://www.visaoempreendimentos.com.br/paraisocanoa.php They have second line from the beach for £10000. I purchased there 4 months ago when the prices were 30% lower.
  15. I have found prime lots in Brazil for under £5000... I bought 3 of them already and I am planning to buy another 2. In a better location than Natal. Natal has already had some good years of growth, the best deals can now be found to the North of Natal. But it seems that we agree this time on the fact that Brazil is a good investment. Nevertheless, the best deals are to be found from the local people not from British sharks.
  16. You might be right. NObody knows for sure whats going to happen. The only issue is that people want to experience something else besides Spain.
  17. This is definitely not true. I just checked a couple of area like Port Malabar in Palm Bay or Golden Estates in Naples, prices for land is 1/4 to 1/3 of what was 2 years ago. Same in Coral Bay or Sarasota. I do not know about houses and condos as I am not interested in buying Mcmansions and stucco towers...
  18. Georgia never had a bubble, prices grew realistically. The bubble was in Florida, NOrth East and West. I can guarantee you that the bubble is deflating rapidly in Florida, California and Nevada. If you find the right place, you can already make wise investments there but you need to study the market. Dogbox, firstly check your credit in America. if you have an immaculate credit then maybe you can get a 90% loan.
  19. Which other way can a growth go? It looks nice anyway.
  20. I am interested in the following areas: 1) between Kingman (Arizona) and Las Vegas. There will be some huge projects for commuters to Las Vegas (in 2010 there will be a Hoover Dam By-pass so the distance to LV will be about 1 hour). I am also in love with Grand Canyon and 2 days ago they started developing the Grand Canyon West. 2) somewhere near ski resorts in Colorado. The cheapest land seems to be near Wolf Creek Resort. 3) somewhere in Florida. I found the most convenient land around Melbourne-Palm Bay. The problem in Florida is the huge property tax. 4) somewhere near the national parks in Utah. These are the areas I am interested, it is of course very much related to my personal preferences... Georgia is also a very good region, I would be interested near Savannah.
  21. Time will tell. I wish I knew which place crashes and how much it crashes, I could make tons of money that way. We are all spectators as the things unfold. I decided to buy a couple of properties in USA so I am only following that market.
  22. Unfortunately the Spanish crash will induce a crash everywhere in European holiday market. And Morocco, cape Verde and Egypt will not be spared. Same as the Caraibean Island are not and will not be spared by USA crash. I am just investigating some purchase of land in Florida. The prices of land near Orlando are now (March 2007) about 2-3 times less than they were in 2005.
  23. " Property agents in Spain, Europe's hottest housing market this decade, are likely to cut vacation home prices by as much as 10 percent this year, according to RR de Acuna & Associates in Madrid, which values real estate for about 40 percent of mortgages. A slowdown may have a ``psychological'' effect throughout Europe, said Tobias Just, an analyst at Deutsche Bank AG in Frankfurt." " The Organization for Economic Cooperation and Development in January said house prices in Spain may be overvalued by as much as 30 percent. A sudden acceleration in interest rates could cause an ``abrupt adjustment in which prices would plunge,'' the Paris-based OECD said. A 30 percent slump could reduce Spain's economic growth by as much as 1.8 percentage points, according to Deutsche Bank's Just. " http://www.bloomberg.com/apps/news?pid=new...id=aCk.OYMSRtDA I guess it is the beggining of the end for easy money obtained from ignorant people. Buy those condos before it is too late.
  24. No, I did not purchase. The problem there is that there is a big river entering the Ocean near by which makes the water less crystal clear than desired... There are 2 nice possbilities to purchase land in Canoa Quebrada called Riviera and Paraiso de Canoa. The water there is really excellent. I know of another possible good deal in Turks and Caicos called Bell Sound Estates. They have $25000 plots of 2000m^2 at 150 m from the Ocean. Unit in resort: more expensive but of couse brings you fast money. Land: long term investment. Can either leave it like that for 10-15 years and then possibly get a huge capital gain. Or build a house and rent it. Depends on the strategy and desired results...
  25. Yeah, right. You can buy 5 apartments in Brazil for the price of a possible apartments in Sahl Hasheesh. I am not saying buy in Brazil but Egypt will never be a serious holiday attraction, they will be squeezed between Morocco and Dubai.
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