May 2009 Archive

Villas for sale in Moraira and Javea - Repossessions

Moraira property for sale

For some time now property prices have slowly but surley been corrected to take account for the economic downturn.

There are some genuine bargains to be had if you do your homework. It’s a mistake if you think that bank repossessions are bargains! It’s not always the case and sellers always try to recover at least the outstanding mortgage as a last attempt to sell. One must ask the question why the property has not sold before the repossession? In my opinion it’s usually for good reason.

Having seen many overpriced or undesirable villas for sale, I am not surprised they have never sold even though prices have been reduced. Many are not even worth the outstanding mortgage and consequently they get repossessed.

Banks will auction them off and try to recover the mortgage. If they fall short they will pursue the owners for the outstanding debt.

Assuming you can pick up a so called “distressed property sale” from a bank, there seems to be a fundamental flaw here as you risk inheriting the very same reasons why it never sold in the first place, so buyer beware!

As Moraira and Javea property finders, I have taken a close look at bank repossessions lately and it has been of no surprise I have seen many of the properties on the list over the past 3 to 4 years.

Understanding why property does not sell and what truly represents excellent value is paramount. The market may be depressed and property sales way down, but don’t be taken in by all of the media’s generalisations, sweeping statements and exagerrated hype stories. The fact is there are genuine bargains to be had and desirable property is still selling. It’s a buyers market and for those with some liquidity property seems to be a safe bet. Where else do you invest money and feel safe?

That said, more recently it has been more euro led since sterling has lost so much of it’s value.
Eurozone countries are taking advantage of the price reductions. The UK buyers whom once led the market are few and far between, compared to when sterling was strong but they indeed exist.

Real bargains tend to be with the people that bought before the boom began and paid very little for their property. If they have dire circumstances they can afford to let go and still recover more than most that say bought during the boom so it’s worth bearing in mind.

Without doubt there are some desirable properties at knock down prices if you have the time to find them but you need to be careful that you arn’t just buying work. Our property finding services are free so feel free to contact us with this link

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Posted by on Friday 22nd May 2009

Cap d'Or Moraira

Start of walk to Cap Do'r Moraira

Start of walk to Cap Do’r Moraira

It’s the 17th of May 10.30am and we are off for a walk to Cap d’or.
Cap d’or is the pepper pot watchtower above El Portet in Moraira built in the 16th century. It’s going to be another hot sunny day so walking in the morning is much easier. A leisurely walk to the top takes 30 mins. The pathways are rough with loose rocks, so you need to be sure footed with sensible footwear. I would not attempt it in the wet as there are expanses of flat rock that would get very slippy. During the winter it also gets slippy in the mornings from the dew, so best to let the sun dry it out and walk later in the day. The start of the walk is at the end of Pto. de Alcudia and this road is off Puerto del sol.
Simply follow the green and white markers along the way.

markers

markers

There are many wild flowers to look at all the way up to the top. The views are stunning and at the top you can see Javea and beyond on one side and Moraira over to Benidorm, with the Penon de Ifach rock in Calpe in between, on the other. It’s amazing just how many properties there are scattered along the coastline. If you need to know more about [buying property in Moraira](http://www.spanish-property-sales.net/buying-guide) this link may help you.
Enjoy the pictures we took!

butterfly

butterfly

wild flower el portet

wild flower el portet

wild flowers

wild flowers

wild flower

wild flower

wild flowers

wild flowers

moraira view

moraira view

view

view

javea view

javea view

view of tower

view of tower

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Posted by on Wednesday 20th May 2009