Property Focus

Moraira & Javea property news Nov 2011

It’s been 8 months since our last Moraira and Javea property news update. Time fly’s!

This year started very well as we reported previously. Thankfully many more clients have decided to use our services and we have continued to be very busy.
Many of the leading estate agents have also reported having a very busy year. Regardless of the dire economics we all face, there has been a glut of buyers ready with their cash.

The biggest problem has been and continues to be the significant reduction in the average property budget that buyers now have in relation to the bulk of property prices out there.

Consequently the availability of quality property stock that falls into the price band that people can afford has diminished and the amount of legwork involved with finding an affordable property has increased substantially for all concerned. You have to kiss a lot of frogs!

Over 93% of enquiries are for less than 400,000 euros and 70% of these are for less than 300,000 euros.
Having spoken to many agents they have confirmed a similar enquiry pattern.

For the majority of properties for sale, agents are struggling to close the reality gap between vendor and purchaser expectations.

Quality properties that do fall into the mainstream affordability band and represent value for today’s money have continued to sell throughout the year and expect next year to follow the same trend.

We have had a very busy year doing just that for our many clients and this is where a property finding expert can help you find quality property quickly and help you decipher the best from the rest in a short space of time.

Happy hunting!

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Posted by on 11/16/2011 07:39:00

Moraira Property Update Feb 2011

The end of February 2011 is drawing in and before writing another news blog again, we thought we would see what kind of start to the New Year we, and many others, would have as far as the Moraira property market is concerned.

Looking back and having had a very difficult 2009, at the beginning of 2010 we thought the year ahead would be nothing short of a disaster. However, what we did not appreciate was the knock on effect of low bank interest rates and how this would change the mind set of savers.
Throughout 2010 and to our surprise we experienced a glut of cash buyers that seemed to come from nowhere, but they all had one thing in common, they were all removing savings from there banks and wanted to purchase property in Spain to enjoy the dream, which in essence boils right down to a fabulous climate.

Some liked the idea of their asset being income bearing if required and many hoped their investment had a good chance of future capital growth, but most did not really care as it is something to be enjoyed today by all, knowing full well that long term the property/asset will have good upside potential, which is more than one can say about having too much cash lying around. The fact is, most of us seem to be getting less value for cash/money each day.

Consequently, 2010 has turned out to be one of our best years to date and we have had many satisfied customers as a result of our property finding services! We work hard for our clients and manged to find many fantastic properties offering exceptional value for money, whilst avoiding the "lemons”, if you are familiar with this phrase used for poor second hand cars!

Having spoken to many leading estate agents in Moraira, they have all reported increased sales throughout last year, however enquiry levels for most, including ourselves, tended to drop slightly from November to the end of January but this can be put down to the seasonal changes. The good news is that it has gone ballistic again and with so much bad news about it takes a lot of understanding as to why property continues to sell, so we try to make some sense of it all rather than just talk it up for the sake of it.

Regardless of all the doom and gloom we hear on the news, we still have a grab your savings and go long on property mind set/trend, well for Moraira and Javea at least.
Already this year has set new records for us and many others in terms of actual sales not just enquiry levels.

Obviously there are many bargains around, it’s the sign of the times but if there are bargains to be had, we find them as we work with every estate agent in the area and beyond, including those off the beaten track, which surprisingly can have some very tasty properties from time to time!

You still need to be careful though if you want to find a genuine bargain. Many so called bargains can be fundamentally flawed and in most cases have been reduced time and time again. So please be extra careful that you do not make the wrong compromises. You may one day regret what you inherited.

As sure as eggs are eggs, fundamental compromises will rear their head again in the future, especially when you come to sell your property. We help our clients make the right decisions based upon the comprehensive feedback we glean from the expectations of previous clients, that in essence dictate what sells and fundamentally what doesn’t.
We are well placed to advise and drill down every aspect with you, so being open with us is the only worth while policy to have.
Consequently, we have many satisfied customers whom have decided to use our dedicated property finding services, thus saving time, money and in the process buying a property well worth while and one that will always be highly desirable in the future.

There have also been many properties sold in Javea during 2010 and many have reported a busy start to 2011, so it would seem the pattern is similar.
In particular the Dutch have been very busy snapping up many property bargains all over.
We have also seen a significant increase in British clients and we think the trend will continue throughout 2011 from the number of enquiries we are getting from the UK.

We obviously speak to many clients and it would seem the worse it gets in the UK the more disillusioned and unsatisfied the people become and for those lucky enough to afford and enjoy another lifestyle, that’s exactly what they are doing because they realise life is too short and do not wish to wait for the promise of better government, honest banks or sound economics. It’s just not going to happen, well for many years to come at least. This is one of the main reasons why property has been and will continue to be sold, providing it is in a highly desirable location, like Moraira and Javea.

So glad we chose Moraira as a place to live! We are some of the lucky ones but we made it happen.

Until next time happy property hunting.

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Posted by on 02/23/2011 18:24:00

Moraira Property Update

It’s been a while since we wrote about the Moraira property scene as we wanted to see and experience where it was heading.

As far as the property market goes it has picked up significantly for most if compared to the previous two years. The market seems to have stabilised albeit there are still many properties that are over priced. That said price corrections are now common place, but still the best bargains tend to be down to the personal circumstances of the vendor.

The year so far for us has been fantastic and likewise for many agents we speak to with property sales on the increase. Thanks to Moraira being a highly desirable place to be it attracts property sales as soon as things start to stabalise. There are many buyers around at the moment and hope this trend continues regardless of the UK media always talking about Spain’s deficit and painting a doom and gloom picture. The negativity probably takes the heat off the UK’s recent austerity measures.

Spain has its problems and they are of course very serious as is the UK’s but the coastal town of Moraira remains far more insulated from the wrath of the poor economic climate as a whole. In fact this summer has seen some of the largest crowds at the local fiestas ever and villa rentals are almost full.

The market here in Moraira is driven by Northern Europeans more so than the nationals or Spanish economics, although it’s bound to have some bearing on things especially when taxes or rates increase. Regardless of increasing living cost here in Spain, northern Europeans still want sunshine and a little paradise for their families. The irony is that people are now getting used to the economic problems and know they will not be going away for some time but meantime they still have a life to get on with regardless and now seems to be a good time to invest in property rather than leave cash in the bank which is also a concern for many.

The threat of turmoil was worse than actually being in it as we are today.
The problem with a threat is that you don’t really know how bad is it going to be, so people fear the worse and sit tight becoming spectators for a while which makes things even worse and then they wait until it’s bottomed out. The talk of a double dip recession does not make much sense unless you believe in a so called recovery. We all know the economic struggles we have today will last for years, it’s hardly going to recover and will simply stabalise itself and remain tough. We will probably see some more bailouts, mergers and austerity measures over the next two years or so but for most it will be no surprise and life will continue and wealth will still be created and spent.

So when does it bottom out? If bank bailouts, country bailouts, hardly any interest being paid from the banks to savers, debasement of their currency through the printing of even more money, lowest interest rates in history as well as the real cost of inflation being hidden is not enough, I don’t know what is!
Its no wonder property is becoming a safe haven again.

Consequently we see so many property buyers coming from Holland, Belgium and the UK. Only this time around it is being led by people that understand value for money and investment opportunities plus they are mostly cash buyers. Very different from the boom days where the many could well afford the Spanish dream based upon their equity in their main residence and when banks fell over backwards to lend money which all added to the property price hike.

Having spoken with many clients over the months it’s obvious there has been a shift in the mind set where once people were more than willing to sit it out and leave their money in the bank or in other investments.
95% of all our clients are now cash buyers. This is because anyone with savings, especially in a bank, hardly earns any interest. They seem to be taking their money and investing it into something tangible. Most do not gamble with stocks and shares at this level and historically property has always been a good long term investment that is reasonably safe, plus it is income bearing if you go down the letting route and you get to use it with the family, so it kind of makes sense.

Spanish banks have begun to lend again but to get the best deals around you need to put down 40%. The less risk for the bank the better the deal for you!
They do lend up to 70% and sometimes a little more but the packages are not as good.
They also vet you like never before especially if you have your own business, so be prepared! We have a few contacts for mortgages if needed!

A word of advice: It’s better to get your finances in order before looking for a property because you may be refused by the bank or if not by the time you get mortgage approval the property you found to be a real bargain gets sold to someone else. Happens all the time! If it’s any good that is.

Happy property hunting and don’t forget we can take away the stress and find properties others can’t as well as make things very easy for you!

Good luck until next time

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Posted by on 07/27/2010 07:25:00

Buying property for sale in moraira

Moraira Coast

Moraira Coast

Over the past eight weeks or so many properties have been sold in Moraira. The majority of which have been of low value. Anything under 350,000 euros is considered low value in Moraira. Average is around the 500k mark and you don’t get much for that! Unless you drop lucky.

We speak with many estate agents and the really good properties at low prices seem to be selling fast. If only there were more! There seems to be a big problem finding quality property of low value in Moraira or Javea. Recently we have all been inundated with property hunters many of which go back slightly disappointed and wondering exactly where the recession is around here. That was a comment made to us the other week
from some clients with 500k. Believe me we have experienced 20-30% price reductions on today’s advertised prices. Make’s you think just how easy obtaining money use to be!

And there lies the problem. “Liquidity” not many people have it and not many can raise it to the level required to satisfy their expectations. Those that do have liquidity are chasing the bargains and snapping them up. But what’s a bargain in Moraira’ well if you can get a “quality” 3 – 4 bed villa (not a project) with a good real sea view from pool level on a useable flat plot near to amenities for under 600k you are doing well!! We have several clients wanting just that. So remember a good sea view and that’s nothing wow cost 100-150k minimum. Sea view plots cost upwards of 340,000 euros!

This leads me to a reoccurring problem that we never used to see very much but it is becoming more common because of the low offers some vendors are having to swallow.

Basically once you manage to find your dream home and agree on a price you usually put down a 3000 reservation deposit and then instruct lawyers to do the due diligence etc…This takes a couple of weeks. Meantime the property is still on the market with several other estate agents and if they have a cash buyer wanting to take a look the vendors hardly ever refuse. They try their luck and see if they can get a better offer.

You see it’s only legally binding once the 10% deposit is paid and the private purchase contract signed by both parties. Other than that you can easily get gazumped. Don’t leave it to chance.

To save the heartache there is a very simple way to avoid this. We have just recommended it to a client and it has been done with ease.
Instead of putting down a reservation deposit which doesn’t mean anything in legal terms, you instruct your lawyer to issue with immediate effect a private purchase contract and make it “subject to due diligence”. Then both parties sign it. This now legally means that the vendor would have to pay you back the double if they sell it to someone else!
It’s worth ensuring this common “pay back the double clause” is in the contract.

The 10% deposit is held within a lawyers client account until all the searches have been completed to your satisfaction. If they are good you continue with the purchase. If they show a problem and the problem can not easily be rectified it is within your right to back out of the deal and get your 10% back from the lawyer. You can not back out other than for legal reasons, otherwise you would risk losing your 10% deposit which is understandable because you may have prevented them selling it to someone else..

Lawyers have standard private purchase contracts that can be tweaked accordingly and used. This means within a couple of days you can secure your deal even if a inventory is required!
It’s also worth mentioning title deed insurance It’s new and well worth while for peace of mind. It’s called Safe Purchase Scheme

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Posted by on 10/12/2009 18:37:00

Javea Property For Sale update

Sketch of Javea Montgo Villa for Sale

Sketch of Javea Montgo Villa for Sale

The Euro zone nations have recently been leading the way as far as Javea property for sale and Moraira property for sale is concerned. Buyers from the UK still think that property for sale in Javea or property for sale in Moraira is overpriced even though there has been a significant price reduction.

The recent fall, yet again, in sterling means the UK buyers are no better off regardless of a 20 –30% price drop on average. The UK media coverage says that the prices have fallen sharply in Spain and you can pick up villas at a fraction of the original cost.

This generalization is not true of the Javea and Moraira property market. In all fairness the prices have held up very well. I think a lot of this is more to do with the fact that Moraira and Javea are very well established areas full of villas of a more bespoke nature for the more discerning client. Yes there has been a property boom here too but it has not been built up in the same way as the massive purpose built housing estates to the south of Alicante, created at a price to sell to the masses.

This is where we see massive problems and consequently massive price reductions. Unfortunately the media rarely make any distinction between the prosperous areas and the not so prosperous areas. Remember bad news sells papers!

There are various articles about Moraira and Javea that may go some way to explain why these areas are so highly desired. If you are thinking about investing in a holiday home it is well worth while to do as much research as you possibly can and hopefully this website will aid you in some way. If you prefer to speak with one of us directly please feel free to do so, we don’t bite! Or you may want to view some properties for sale in javea or properties for sale in Moraira

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Posted by on 10/04/2009 16:40:00

Property valuations in Javea & Moraira

3 bed 120m2 moraira apartment for sale

3 bed 120m2 moraira apartment for sale

Recently I have been trying to make sense of property prices and valuations in Moraira and Javea.

There seems to be all sorts of data around with regard to valuations. The majority is not area specific relative to the Javea and Moraira properties for sale. Although we have seen, in some cases, a price reduction of around 20 – 30 % in advertised sales prices, it does not represent a true picture of the underlying value that was born during 2007 – 2009 financial crisis.

What the majority can afford will always dictate the underlying value of a property. It just takes a while for the reality to kick in. Many property owners out there simply don’t have to sell or can hang on to an unrealistic price until such a time when the majority of prices have been corrected. They then have to follow suit if they wish to sell. This process usually takes three years to bottom out to a realistic level. Some properties are priced to sell but the majority for sale still doesn’t reflect reality.

The properties that seem to sell are being substantially reduced when it comes to the actual deal done. Most never get to know how low the actual sales price was relative to the asking price. Many offers are refused but the ones that are selling are deals based upon a more realistic price level to start with. So how do you get a realistic valuation?

The process of valuation is arrived at by various means but rest assured, it’s always way behind the market when it comes to the reality of reductions! Most vendors already seem to know how much their villa is worth. They arrive at this in the usual way and this is based upon other advertised prices and what they think properties have been sold at next door or down the road over the past few months. Then by making adjustments for what they paid for their property and how much money they have spent on it, plus adding some on to negotiate with and “oh, the exchange rate is not in my favour” etc.

The other way is to ask an estate agent to come around to value the property. Estate agents are aware of the market conditions and will use slightly revised figures per square meter that reflect this but will still hold out in hope that the market will improve or will not be as affected like other areas. Historically there is a lot of truth in this as far as Javea and Moraira go. These desirable areas have been able to ride the storm far more than other areas, but of late there seem to be many people having no alternative other than to sell at low prices. In my opinion this time next year will see the low priced deals done today being the advertised sales price next year. So the initial figures estate agents arrive at will be similar to what the banks come up with to lend new money.The only difference is that estate agents are more at liberty to be a little bit more creative with the rest, usually increasing the valuation to please the vendor subject to how desperate they are to sell.

The truth is there is no rock solid formula and the formulas that exist in my opinion, do not reflect the true underlying value of a property or basically what the majority can now afford. Even the official figures are lagging behind what’s happening on the ground and what’s actually happening on the ground is lagging behind the financial crisis born during 2007 and it’s not over. It may take another year before we see some realistic prices being advertised, maybe even longer.

Estate agents talk amongst themselves and know, even if they are not selling much them selves, some of the properties being sold and at what price some are exchanging hands for. Many can’t believe the deals that are being done and it would insult many vendors out there wishing to sell if they knew. Consequently it’s easier to live in the past and avoid the confrontation when asked to put a value on a property! They allow the market to take its natural course.

Another way, though at cost, to value your property is to pay a bank to do it and allow them to be as clinical as possible. Don’t sell it to them! After all these guys will probably be financing the 70% mortgage to someone, somewhere down the line. Its inevitable banks will have their say because most buyers require some form of funding or at the very least an official valuation, so you might as well know how banks are going to look upon the value of your property before hand. At least you can waive an official bank valuation in front of them regardless.

Recently I thought I would compile 200 villa properties in Javea, taken at random from various websites. I made sure that the prices were reduced prices and that the properties had a similar build 150 – 175 and plot size of 850 – 1200. Then I totaled up the build size and divided it by 200, likewise with the advertised prices. Then I divided the average price by the average build and came to an average figure of 2,300 euros per M2.
I compared this 2,300 M2 figure with some recent bank valuations and arrived at a figure that was almost the same. Today I have spoken to a property valuation expert that does valuations for the banks. Banks use various registered organizations that specialize in such activities whom follow the guidelines laid out by central government.

One such organization is Tinsa and a report by them echoes my sentiment on this subject matter even though there info is dated relative to what’s happening on the ground.

Tinsa, a Spanish property valuation company used by several high street banks, has signaled that advertised house prices will drop a further 20% over 2009. In the same report, they have calculated the drop in 2008 as being 10.1%
If this figure is correct, Tinsa say that this will bring house prices back to their advertised levels in 2005. The monthly drop may be between 1 and 1.4%.
This is not news to many agents down here on the ground, who have seen price reductions of between 20 – 40% in the resale market. The official figures often lag behind the reality of business day to day.
A 10% drop in price does not really attract attention among the bargain hunters looking to purchase a Spanish home at a drastically reduced price. It is only those properties that have reduced to 2005 prices that are actually selling.

It may well take time for certain vendors and developers to catch up with the pricing downturn. It is only those that need to sell for personal or financial reasons that are pricing their properties realistically or accepting very low offers.

This translates into only a small percentage of properties available at ‘distressed’ prices. However, they are the only properties that are selling and selling quickly.

As there seems to be no accurate formula for property valuations, I asked how they establish a value on a given property. It was a little vague but here we go…..

Firstly, they have a valuation guide by province and this is broken down to some degree by area. The problem is that there are huge fluctuations from province to province and town to town. The system depends greatly upon each individual valuation officer having knowledge of a given area and the prices these areas are able to attract. For example a like for like property in the south of Alicante would be significantly less in price than say the north of Alicante in areas like Moraira and Javea.

The bulk of the valuation is based on the amount of actual living accommodation, excluding garages, terraces and undeveloped under builds. The plot is usually included in the price/calculation, unless it’s a double plot. The pool also tends to be included. Then adjustments are taken into account relative to the overall condition of the building, gardens, views and area. So it’s part science part art. One thing for certain is that properties with greater living accommodation have always valued up very well, where as smaller accommodation will not calculate favorably and therefore will be more difficult to sell especially if the buyer requires finance.

Some of the recent bargains I have come across are larger properties of 280 and 290 M2 build. As far as bank valuations go, they value up well and one was recently valued at 670k two months ago. But the prices they are being sold at are way below a bank valuation. The figures work out at 1,300 – 1,400 per M2!!
The reason for this is because that market for older properties that were once worth 600 – 750k has virtually gone, and what’s left of that market sector can buy something that was once worth 1.2million!

So to get back to property values in a real world, many of the once 600k – 750k properties are selling at around the 400k mark, some above and some below. This is mainly due to the fact that lending has become difficult and people have less value in their currency. Spain used to be cheap!

It all sounds like doom and gloom, but let’s not hide away from what is actually happening here on the ground. You might as well know because if you have a villa that you need to sell and it’s not too dissimilar to the many out there and amongst hundreds of others for sale within a given price band that 90% of the market can not even afford, through no fault of their own, how are you going to sell your villa?

If 90% of all buyers can only raise 300k – 400k at best, plus the additional 10% cost and you happen to have a villa that you think is worth 700k or 800k, think again!
Where is your market? Who are you selling to? The few buyers around with this higher budget can find amazing villa bargains that seem unreal and unfair but they indeed exist.
If one day the advertised prices are within the grasp of the many and sterling recovers to 1.45 against the euro, you may stand a better chance of finding a buyer. Either way, you will lose out on both the reduction in price and probably on the exchange rate if you need sterling!

One thing for certain is that resale properties represent amazing value for money. And are far less expensive than new build. You would be lucky to find a decent plot for less than 225k and anything with a sea view is at least 350k for a 1000M2 plot. With the cost of architects, building permissions and modern day materials and labour you don’t get much change out of 600k and that’s for something basic. Consequently, the future of new build looks grim and only prime and very expensive plot locations seem to be being built on for a more discerning customer.

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Posted by on 07/28/2009 19:26:00

moraira property for sale

Moraira El Portet villa for sale

Moraira El Portet villa for sale

Property for sale in Moraira and property for sale in Javea is still proving to be very resilient to the huge price reductions seen elsewhere, predominantly in the mass developed areas where we have seen dramatic price reductions.
Having seen the thousands of properties on the many housing estates in these areas, it’s no wonder!

For those British property owners in Moraira and Javea that have to sell, we have seen on average a reduction of up to 30% in sales prices to reflect the devaluation of sterling. But that’s it apart from a hand full of very distressed property sales. The market is ticking along with lots of lookers but not so many buyers unless a real bargain comes up. Still there are properties being sold and recently have seen an upward trend in activity. I think significant recovery will be a long time coming but recover it will if history is anything to go by.
As to what level and when is anyone’s guess Comments appreciated.

Sterling has recently made some significant increases against the euro and British sellers are now not wishing to negotiate as much as they once were. In fact some sellers have actually increased the sales price to reflect the stronger pound. The reduction was literally based on the poor purchasing power of the pound against the euro in the first place. But even with the 30% price reduction the British are only where they were two years ago when sterling was at 1.45 So nothing has really changed! That’s why we have lost such a significant amount of British buyers and the ones that exist, some 15% of what we once had, are looking for real bargains.

All things considered, I personally think price increases at this stage are rather short sighted, as the majority of recent sales have been led by the euro zone countries taking full advantage of the price corrections fuelled by the devaluation of sterling. If British owners are unwilling to negotiate or in some recent cases, increase their prices simply because of the recovery in sterling, they risk losing not only the few British buyers around but also the many buyers from the euro zone countries.
If you are trying to sell your property in this market, one has to assume that the majority of you are pretty desperate to sell because now is not the time to do it. Buyers know this and will put in, what may seem to you as, ridiculous offers. If you do not wish to be insulted by low offers, it might be worth your while considering the possibility of removing your property from the market thus saving everyone’s time.

Lets face it, low prices and easy lending created the property boom here in Spain and consequently prices escalated. Today, easy lending has gone and so too have the second homes and inflated prices with it.
The big gains you thought you had are simply not there. If you bought midway or at the end of the property boom, you would do well to recover what you invested in the first place. Many are doing just that to make a sale. Needs must!

It’s affected us all. I am one as well and we all have to face it whether we are selling or not. The majority of house prices have fallen by at least 30% and for those that have to sell the prices need to reflect what the majority of buyers can afford. Scary stuff but the market always dictates and there are always winners and losers.

The days of easy lending, over valuations and 80- 100% mortgages etc.. are no more. Today, Spanish mortgages can be very difficult to obtain, then it’s only 50 to 60% of the price paid and then subject to much scrutiny, excellent proof of income and job security. Most used to re mortgage their main residence in their native county to afford a second home here in Spain and simply come out as cash buyers. Those were the day’s!
Property prices in Spain have risen over the years to such an extent that it has become virtually impossible for people to raise enough finance, based upon the inflated equity in their main residence as they once did.
Their house prices have fallen in value and with it have gone the easy to obtain second mortgages.
So, how then are people, other than investors with liquidity, going to be able to finance a property purchase?

Unless buyers have sold their main residence and achieved a good sales price, which is highly unlikely, then paid off their mortgage and have enough surplus to buy a Spanish home, mortgaged or not, plus leave some money in the bank for a little capital; I think it’s going to be difficult to make a sale unless you drop lucky.

How many people do you know with say 350 – 500k cash in the bank? Personally, I think you could be waiting a very long time before your property sells unless you negotiate really hard. A bird in the hand is worth two in the bush!

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Posted by on 07/02/2009 18:25:00

Villas for sale in Moraira Vs Community Property for sale in Moraira

2 bed semi Moraira community property

2 bed semi Moraira community property

Community Pool

Community Pool

Detached Villas in Moraira or Javea, within their own grounds and with a swimming pool are the most popular choice for property seekers. Although far more expensive than most community properties, they tend to be wanted more because they usually have a much larger plot with a private pool and with more than adequate boundaries from neighboring properties providing a little more privacy. Ideal for family holidays. Letting potential for a private villa is usually in greater demand with higher returns.
That said, the rates are higher, annual taxes higher and the maintenance is higher and unless you are living there, will require a pool cleaner and a gardener.

Community Property

For those that require a very reasonably priced holiday home or a very low maintenance permanent home with low running cost, it might be worth while considering a quality community property in [Moraira Costa Blanca](http://www.spanish-property-sales.net/locations). Detached or semi detached, there’s always a choice. [Great example here](http://www.spanish-property-sales.net/properties/10070-villa-for-sale-in-moraira)

If you do your homework you can usually find excellent properties within a well managed community. Usually with a very large swimming pool that you would not get with a typical villa and with large beautiful gardens as well. The annual community fees will cover all cost associated with keeping the communal areas in tip top condition, like the pool, gardens, lighting etc.. so it’s always nice on your arrival.

It’s very simple to come and go as you please. They also let reasonably well because they are much more affordable than private villas especially with the recent credit crunch!

Some people don’t like the idea of a shared pool, however many do and enjoy the fun and interaction that a shared pool of good size provides, especially if you have children.

Community property owners also benefit from the fact that more often than not, there are some full time residents.
Many are only too glad to help out with keeping an eye on things, giving you peace of mind in your absence.

There is usually a very helpful community spirit and it’s nice to have some neighbours nearby when you need them.
Everyone respects each others privacy and of course the all important community rules that help protect your investment!

For example if next-door wanted to paint their villa pink or put up a scruffy looking garden shed, subject to the community rules agreed, they could not. Each community makes their own rules so it is worth while understanding these before you buy. Pool safety is usually paramount.

Every year communities have an AGM to discuss how the community is managed, maintained and what is required. Everybody can have a say and vote. The elected president ensures all is done as per the majority vote.

See this link for more information on [buying a Moraira property](http://www.spanish-property-sales.net/buying-guide).

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Posted by on 06/30/2009 17:54:00

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 05/22/2009 14:10:00

Luxury Villa for sale in Moraira

Sea View, El Portet Moraira

Sea View, El Portet Moraira

Moraira Villa

Moraira Villa

Sunset

Sunset

Dining Room View

Dining Room View

Pool

Pool

Rare opportunity! Magnificent 2nd line villa in El Portet. Stunning views! 10 min walk to beach. Dream property, viewing highly recommended.

Property Reference: 7331 This beautiful villa in an idyllic and prestigious location is a rare find. It enjoys a spectacular, uninterrupted view of the Bay of Moraira and Calpe Rock, framed by the stunning peaks of the Sierra Bernia on the horizon. What is arguably the prettiest beach on this stretch of coast is a short walk away, as are the charming town and marina of Moraira, but this house also offers a tranquil retreat – simply the best of all worlds. The spacious, poolside terrace, ideal for entertaining, offers a commanding view, privacy, and sunsets which will take your breath away. The chic, rustic style of the interior blends perfectly with the sophisticated elegance of the exterior – large rooms with subtle natural stone and timber features, and an abundance of panoramic glass doors opening onto the terraces for the ultimate enjoyment of a Mediterranean lifestyle. To the rear, the immaculately maintained terraced garden with a profusion of fruit trees and flowers nestles into the protected headland, affording total seclusion.

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Posted by on 11/17/2008 16:23:00