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House Price Crash Forum


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Everything posted by catara

  1. By people like you who need their nappies changed?
  2. They are not bears, just some losers who thought it might be interesting to be part of HPC...
  3. You are part of the sheeple who joined this site when it was popular to do so (December 2008). Why would you have any credibility? Don't let the door hit you from behind.
  4. OK, so there were many idiots who bought way-overpriced property. So what? A fool and his money are soon paerted.
  5. £60K an apartment in Plovdiv? From other sites: "In a town like Plovdiv there are more than 800 realestate agencies, more than 7000 properties are for sale or rent and numbers are constantly increasing. A few hundred people have bought new property last year and very few Brits.The lies are allowed to keep on, in hope of ripping off another few buyers."
  6. So what are your reliable sources?? You must be really thick if you did not know that Spain has many-many illegal buildings. Do your research before posting.
  7. Source??/ Just google Spain and illegal buildings and 100K of links will appear.
  8. I hope you are joking. Prices in Utah went crazy between 2002 and 2005, Californians were snapping any single house or buidable lot and selling to the next sucker. A buildable lot in Moab went to $100K in 2007 and now sells for $50K (which is still incredible expensive). Houses in St George or around Salt Lake tripled in about 6 years... Now they have the regular bust...
  9. When they start tour buses it means things are approaching the big fall. In Las Vegas they did tour buses in 2008, before the real wave of foreclosures took place. Then the prices really started to go down by 30%+ per year. Same will happen to Spain soon. "Distressed property bus tours for bargain hunters on the Costa del Sol Posted on May 8, 2009 by Spanish Property News Filed Under Marbella, Spanish property bargains | Marbella, a bargain-hunter's paradise? Marbella, a bargain-hunter's paradise? An investors’ club has started organising bus tours for bargain hunters looking for distressed property on the Costa del Sol, according to a recent article in the Spanish daily El Pais. On offer are luxury properties on new developments with discounts of up to 50%. “We are going to see real bargains,” participants in the first tour were told. Organised by Círculo Financiero Internacional, an investors’ club, the tour is free for members but cost 20 Euros for non-members. “The market is stagnating, and developers need to shift new homes that in some cases they have built and paid for, and in other cases are being repossessed, or belong to the banks,” explains the tour guide. Other sources confirm that developers are offering substantial discounts on previous prices, which is not too say that prices won’t go lower still. Developers on the Costa del Sol are offering discounts of between 20% and 40%, but doing so discretely to avoid damaging the area’s “aura of exclusivity”, say Spanish real estate consultants Aguirre Newman On the first tour a group of Spanish, German, and Russian bargain hunters were taken to see four new developments in Marbella, Estepona, and Benehavis, offering apartments and penthouses by the beach or on golf courses from 200,000 Euros. Supposed examples of bargains viewed on the tour included: On a development in Elviria, a penthouse with 260m2, with garage parking and store room, for sale for 500,000 Euros, down from 1.1 million Euros. On a new development in Puerto Banus, penthouses of 250m2 from 500,000 Euros, and apartments of 200m2 for 400,000 Euros. On a golf development, semi-detached properties of 200m2 for 298,000 Euros, down by almost 50%. Repossessed by the bank. “The prices go up or down depending on the debt on the property,” explained the guide. “If you are interested you can negotiate with the banks, something that is now very easy.” But the prices didn’t impress everyone. “It’s clear that nobody is giving anything away,” one disappointed bargain hunter told El Pais. The organisers plan to introduce similar bargain-hunting bus tours in Barcelona and Madrid." http://www.spanishpropertyinsight.com/buff...-costa-del-sol/
  10. Nobody can save Costa Blanca property market. At least not the one where the British mostly bought (Torrefvieja and other junk).
  11. Yeah, right. from other forum: """ I am not going to sell at a loss". How many times we have listened to that even professional phrase from friends or relatives? After decades of house price rises for apartments or villas, people stoically resists to sell them with losses. although that is something that happens every day in other investments, like stock-market. Nobody guarantees that a business makes money, be it dry cleaners, bar or a restaurant. But selling a property with losing money losing money was something unpronounceable, until yesterday… Caixa Catalonia has been first in transferring that line taboo and open the door to sell apartments at a loss. to thus it indicated to his attached chief of a main directorate, jaume it masana, when affirming that " there are assets that will be sold with capital gain and in others we will lose, but we preferred to lose today" . The organization accumulates a stock of 3,600 apartments, pronounced these words after announcing that it reduced a 30% hundreds of those apartments. a reduction that in some cases will arrive after them already to have reduced more than two digits. in addition, it sent a package of measures for strengthens his strategy of marketing, because it is committed to repurchase the building in case the buyer has work problems, and also rebuying or an economic compensation in case the real estate assets continue lowering in the zone" http://www.spanishpropertyinsight.com/foru...opic.php?t=4296
  12. Yes. Yes. No. The prices went down from about 160k Euros to 98K in La Torre. Nobody is stupid to buy for over 50K Pounds.
  13. You keep on writing about the prime minister. You should also present the story that he did not now that he had a "property" there, a developer just gave it to him for publicity. Why would he go to a shitty place when there are others much, much nicer? Cabo de Gata is nice but it is far from MOjacar. About weather: it is too hot in Summer and cold/windy in the winter. A touch inland can get quite cold over the winter. The crime is low because very few people actually live there. In my opinion, that area will offer almost-free apartments after the crash is over. There was a reson why nobody wanted to live there before the Brits were conned to buy there at stupid prices.
  14. Brian, the area you live in Almeria (betyween MOjacar and Vera) does not have any future. It is one of the junkiest areas one could imagine.
  15. I have started living in UK in 2005 so I do not have much idea of how people were thinking before the HPI boom started after 1997. What do you think is the big difference between Brits in 1997 and Brits in 2009? Did they become greedier, lost contact with reality, have they become shallower, more superficial? When did the stupidity with owning new cars started? How were people conned on buying so much property abroad (most losing lots of money)?
  16. On Kyero you can find 55K Euros 2 bedroom apts. I would not buy in that area but some others would. On segundamano or fotocasa you can find something. Also, just go to google.es and type say "malaga inmobiliarios" or any other city and you will find a list of estate agents. Also oportunidadescam.com has something. But it is too early to buy in Spain, the repos are only at the beggining. one other factor will be the lack of holiday rentals over the Summer which will push many sellers in denial over the brink. Maybe October-November 2009 will be a good time to start making offers.
  17. I am following that list but I have never found anything which is reasonable priced. Similar properties on other sites cost tens of thousands of Euros less. Honestly, in the current depression in Spain only the 25K Euros or less apartments might be worth buying. One cannot rent to Spanish as they will lose their jobs and never pay rent for years to come. One cannot rent to holiday makers because few people can now afford holidays and the ones who do already own there. So a dirt cheap, no mortgage property for personal use (if one really must buy...) is the only thing which is worth buying in Spain now. But the denial phase still rules in Spain and stupid sellers still hope that prices will skyrocket soon.
  18. Any chace £ to go to 1.3 Euros anytime soon?
  19. Some Lituanian idiots: 1) "I counted on my construction material company booming forever. Government did not tell me that the crunch is coming. I am back to square one" 2) "I build a house, for which I put my parents house as a guarantee. Now the house is not finished, it is going to be repossesed and my parent apartment too"...
  20. Brits made a fool of themselves in worldwide property investments.
  21. Can one use the £2000 discount with dealthedrive or other internet sellers?
  22. 50% of Romanian economy is still black, where people do not declare their earnings.So multiply the 2164 lei per household by 2 and get about 4300 lei /household i.e about 900 Pounds/month. As I said in another message, many became poor after 1989, especially the pensioners. But the family ties are much stronger in Romania and people help each other so, if an old person has children/grandchildren, they will not let them die in poverty... One thing I can repeat: do not think of buying property in Romania before the crisis is over. If interested in that country, you might find some good deals after the house price crash over there.
  23. Speaking exclusively of Romania, as bad as this crisis might get, it will still be piece of cake as compared to the last years of Ceausescu's regime. So people older than 40 are well prepared for whatever bad things might happen. Now, if we talk about the generations of around 30 and younger, they are as unprepared as the sheeple everywhere.
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