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Should Holiday Home Owners Stay Put During 'pigs' Storm?

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Negative equity is a real fear for Sarah Drane, who bought her property in Spain five years ago for 194,000 euros (£162,000) after moving to the Costa del Sol to work.

Sarah, 32, who has her own public relations company, the Purple Cake Factory, moved to Majorca a year ago, but was reluctant to sell her property in Ojen, near Marbella, in case the move did not work out.

However, she now regrets her decision as she currently has it on the market for 25,000 euros less than she paid for it - and if the price falls any lower, she will have to find additional cash to pay off the rest of the mortgage.

Read more: http://www.dailymail.co.uk/money/article-1337826/Should-holiday-home-owners-stay-PIGS-storm.html#ixzz17qLiRSnS

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Form her web site www.purplecakefactory.com:

Sarah has recently had her own work published for A Place in the Sun Magazine, Ryan Air Magazine and the Channel 4 Homes website on countries as diverse as Morocco, Brazil, Hungary and of course, her home, Spain. Sarah has also appeared on BBC's Living in the Sun, BBC Radio and Channel 4's Richard & Judy as a property expert.

People believing their own bull****.

Edited by mikthe20

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Should Holiday Home Owners Stay Put During 'pigs' Storm?

Eh?

Why would somebody who bought a holiday home care what it was worth?

As long as it remains the same distance from the beach, it sould retain its value.

Ahhh, maybe it never was a holiday home.

Maybe it was an attempt to extract rent from others.

Ah well, boo hoo, never mind.

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Eh?

Why would somebody who bought a holiday home care what it was worth?

There are all these 'clever' Brits up and down the country that liked to perform the 'subtle' brag.

"Gosh, yes I bought a holiday place for 100k last year, I can't imagine what it's worth now........but probably 300k if you push me. Gosh, I'm a smart cookie. Someone pass the After Eights, there's a darling."

It's all a bit disturbing really. There's nothing like having all your Spanish eggs in one basket.

The pictures are odd. In one she looks like a 50 year old (fur coat and no knickers most likely, like her investment) and in the other she's got Kenny Everett fake t1ts.

UPDATE - It's a different woman. Perhaps all property idiots look the same.

Edited by Xurbia

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About 425,000 Britons have homes abroad, according to market research company Mintel, with 6.5 million more dreaming of owning a place in the sun. Four in five of these overseas properties are on the Continent, with half in either Spain or France.

What question do your think the market researchers asked? I would have thought everything fancied owning a place in the sun. Certainly more than 6.5million.

It's all good news for a HPC in the UK. A fair few of the 425K will be pooing their pants and getting nervous. With 20%+ unemployment in Spain it cannot be a good place to relax.

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What question do your think the market researchers asked? I would have thought everything fancied owning a place in the sun. Certainly more than 6.5million.

It's all good news for a HPC in the UK. A fair few of the 425K will be pooing their pants and getting nervous. With 20%+ unemployment in Spain it cannot be a good place to relax.

I wonder if this sort of thing is bad news for an HPC in the UK. With all these "savvy" property experts unexpectedly losing their hard earned money on holiday homes, it makes me worry they maybe more stubborn, and therefore the market even more sticky on the downside here in blighty.

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She is sitting on the beach opposite my parents flat in Mallorca

800-900,000 euros down to about 500-600,000

Bought 250,000 euros and if you where to rent the flat the rate has not changed for about 10 years.

Everything is for sale there and the place is full of girls with non jobs looking for a rich man in the port down there.

Hello....What do you do ?

Going by the text on her website it states she is a property expert?

My extended family have a lot of property out there and even though they get no offers and everything is being reduced they hold onto the mantra that property does not fall in Mallorca and that some third world dictator will come and take their villas off them just like the folks in London.

Edited by Fromage Frais

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Everything is for sale there and the place is full of girls with non jobs looking for a rich man in the port down there.

Hello....What do you do ?

My take would be to lift £5K out of your STR fund, charter a smart-looking boat in Marbella for a week, and fill yer boots :)

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My take would be to lift £5K out of your STR fund, charter a smart-looking boat in Marbella for a week, and fill yer boots :)

This is wrong .. but all I could think of was "Why waste your money?" you could get loads of high class blart in eastern europe for a fraction of that ..

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Form her web site www.purplecakefactory.com:

Sarah has recently had her own work published for A Place in the Sun Magazine, Ryan Air Magazine and the Channel 4 Homes website on countries as diverse as Morocco, Brazil, Hungary and of course, her home, Spain. Sarah has also appeared on BBC's Living in the Sun, BBC Radio and Channel 4's Richard & Judy as a property expert.

People believing their own bull****.

That must be worth mentioning as a comment on the article?

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Christina is obviously very shrewd

Another of her gems:

"Even if Portugal left the euro and returned to using the escudo, she believes the impact would not necessarily be negative - and might even increase property prices."

I read that 3 times and am still gobsmacked...

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Everyone else goes up property ladders, and I feel like I am going down one.

No they don't and yes, it's because you are.

How can a property 'expert' come out with nonsense like that?

.

Answer: she isn't one. I'm always wary of these 'PR firms' usually called after food or colours or a combination thereof. Most of them just seem to be fluffy non-jobs made possible only by cheap credit.

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Everyone else goes up property ladders, and I feel like I am going down one.

No they don't and yes, it's because you are.

How can a property 'expert' come out with nonsense like that?

.

Answer: she isn't one. I'm always wary of these 'PR firms' usually called after food or colours or a combination thereof. Most of them just seem to be fluffy non-jobs made possible only by cheap credit.

Yesterday after someone on here posted that the woman nearing negative equity was a TV property expert I couldn't resist emailing her:

"I've just read an article that mentions the negative equity on your Spanish property. The first property you have ever bought.

Can you tell me what qualified you to be described as a "property expert" on Living in the Sun and Richard & Judy? How did you get your foot in the door?"

She replied "My career in PR (11 years in real estate publicity) puts me in touch with all kinds if media which is how I ended up on television"

It seems the way to get on as a property expert goes along the lines of "It's not what you know, it's who you know".

The thing is buying a house is the largest financial commitment anyone makes but I cannot find any mention of any regulation relating to financial journalism etc apart from shares. I've suggested there should be something, here: http://www.editorscode.org.uk/about_us.html

Couldn't someone take one of these TV property program/experts to court for some losses they incurred through their poor advice?

Come on.... somebody go to one of those free solicitor clinics to assess your chances...

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Christina, 47, from Pimlico, west London, bought the property for 300,000 euros in 2008 (£250,000 at the time). She has been considering selling the property to invest in a buytolet in the UK.

Is this the same Christina Hippisley who wrote the book about buying property in Portugal? :lol:

http://www.whsmith.co.uk/CatalogAndSearch/ProductDetails.aspx?ProductID=9781905049141

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Yesterday after someone on here posted that the woman nearing negative equity was a TV property expert I couldn't resist emailing her:

"I've just read an article that mentions the negative equity on your Spanish property. The first property you have ever bought.

Can you tell me what qualified you to be described as a "property expert" on Living in the Sun and Richard & Judy? How did you get your foot in the door?"

She replied "My career in PR (11 years in real estate publicity) puts me in touch with all kinds if media which is how I ended up on television"

It seems the way to get on as a property expert goes along the lines of "It's not what you know, it's who you know".

The thing is buying a house is the largest financial commitment anyone makes but I cannot find any mention of any regulation relating to financial journalism etc apart from shares. I've suggested there should be something, here: http://www.editorscode.org.uk/about_us.html

Couldn't someone take one of these TV property program/experts to court for some losses they incurred through their poor advice?

Come on.... somebody go to one of those free solicitor clinics to assess your chances...

Just like the irritating Gillian Tett who writes on economic and financial issues for the FT and is frequently on the box spouting and lisping in her I'm an expert mode. She has a degree in anthropology !!!

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Just like the irritating Gillian Tett who writes on economic and financial issues for the FT and is frequently on the box spouting and lisping in her I'm an expert mode. She has a degree in anthropology !!!

Aw, shes kind of quete. I like her. She can talk economics with her lovely lisp anytime to me..

I would have thought Crusty could be sued as she has often said a pwoperdee was a bargain and a good investment.

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  • 315 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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