Property Direct From The Owner News
Selling A Property With Property Direct From The Owner
When it comes to sales, real estate can be difficult. Once you learn how to get a hold of some property, you may feel like the hardest part of being a real estate investor is now behind you. However, there is another key part to real estate investing that you cannot afford to overlook: Knowing how to sell high in a bad real estate market.
Now, when the going is good, as they say, then you may have no trouble flipping properties, selling for big profits and generally turning most – if not all – of your real estate deals into gold. In fact, many real estate investing ‘gurus’ recall the market of just a few years ago very fondly because, in one guru’s words, ‘You could mess up big time and still make money. People did not even have to really know what they were doing’.
In tougher markets, however, you can find yourself spending a great deal of time and energy just trying to get rid of properties once you have obtained them. While you may feel like you are investing full time, you may not be showing the full-time investing profits you envisioned when you got involved in real estate investing. This is because you have begun to focus on getting rid of properties rather than generating wealth with them. The key to generating wealth with properties in any market is knowing how to sell high. Now, the word high may mean different things to different people, but it should always ultimately mean that you walk away with significantly more wealth than you went into a deal with. Understanding all your options in any given market will help you be flexible enough to meet buyers’ needs – even when you cannot trust conventional options to pull them through.
In a market where many buyers describe buying houses as ‘stealing’ them because the prices are so low, you must learn to cater to buyers who are good risks, but may not have the ability to buy conventionally. By doing this, you will be able to create your own mini-market in which you can set your own prices.
For more information on selling your property visit the Property Direct From The Owner website at http://www.propertydirectfromtheowner.com
Sell Property Fast - How Can I Sell My Home Quickly With Property Direct From The Owner
When people ask the question, ‘how can I sell my home quickly?’, chances are that they aren’t thinking about the importance of good photographs to showcase the property. That is one of the answers to that question. If you are someone with a property asking, ‘How can I sell my home quickly?’ keep in mind that one of the best ways that you can sell your home fast is by taking some really good photographs of the house and the surrounding area.
The first thing that you want to do when you are trying to take photographs to sell your home quickly is to make sure that you prepare your property for the photography shoot. For example, make sure that the lawn is mowed and there isn’t any debris around. You should make sure that your interior is clean as well – windows, walls, and carpets. Don’t remove your furniture – anyone who is thinking of buying will want to see how it looks. This is the first step you should take when you are asking the question ‘How can I sell my house quickly?’ with photographs.
Paul Wilson, Marketing Manager at Property Direct From The Owner http://www.propertydirectfromtheowner.com says, ‘Good photographs are an excellent way of showcasing the qualities your property has to offer to a prospective buyer. Listing your property for sale and/ or rent with Property Direct From The Owner is a straightforward process and we allow property owners the chance to showcase up to 21 photographs included in the advertising price’.
Take some pictures of the exterior of your home. You should get a shot that is wide of both your house and your yard, both from the back and the front. Take pictures of selling points, like shops, garages, water features, and porches. This is another step in you finding out an answer to the question, ‘How can I sell my house quickly?’
The next thing that you want to do is to make sure that you are capturing your kitchen’s style in the pictures. You should include cabinets and the appliances in your pictures. Take pictures of the areas where you spend a lot of your time, such as your living room. You want to include things such as fireplaces and windows in the pictures. Finally, be sure to take pictures of your bedrooms and your bathrooms. Make sure that you include things such as closets, opening doors for the larger ones, cabinets and fixtures for the bathrooms.
Some final tips for how you can use photographs to answer the question, ‘How can I sell my house quickly?’
• Don’t take pictures when the sun is facing the house, because they will not appear quite so good and therefore not showcase the qualities that your property has. The sunlight will reflect off the windows and cause a glare.
The pictures that you take are going to tell people what they want to know about your house and chances are good that a prospective buyer will see your photographs and be interested. Pictures are so important, especially for those who aren’t able to just drive over and look at your house themselves because they live too far away.
If you have been asking the question, ‘How do I sell my home?’ then visit Property Direct From The Owner at http://www.propertydirectfromtheowner.com
Advertising Property On The Internet - Property Direct From The Owner
The internet technology boom never ceases to slow down and the internet is accessed by millions of people on a daily basis. The internet is considered to be a fine method of advertising and offers you the wisdom to advertise whatever you desire to sell on the net to ensure scores of people get to see it. It is now becoming practical and more and more appealing to sell homes on the internet than through the traditional estate agent route. There are now a large number of property web portals which offer estate agent like services with no fees to have to incur. Property Direct From The Owner http://www.propertydirectfromtheowner.com are a leading web based property portal allowing owners of international property to advertise their property for sale and/ or rent with no commissions or fees to have to pay once the property is sold or rented.
There is no need to worry if you wish to sell your home because web based property portals can make the entire sales procedure extremely simple for you. Putting your property on the internet for sale attracts a number of interested parties thus increasing the opportunities of being sold at a fine price. Over 70% of property buyers first see the home they end up buying on the internet in the first instance. Unlike some online estate agents which fix their commission, Property Direct From The Owner http://www.propertydirectfromtheowner.com do not charge any commissions or fees to the vendor once the property is sold.
You will encounter a large number of formalities in selling your home; however going through a web based property portal will lessen these difficulties greatly. Keep in mind the factor of consistency in web based property portals when going to sell your property. Always opt for a reputable and well recognised web based property portal for selling your property. Internet based property portals can offer the best type of exposure for your property.
Check the customer comments on several sites about online property portals. If comments are positive about web based property portals, it indicates that the website in question has a fine dealing with its customers and a good chance that they would do you proud too when coming to sell your property. The main advantage of choosing a web based property portal as opposed to the high street estate agent is the exposure that your property will get on the internet.
Property web portals have made simple the task of selling your home. Approximately 90% of people start searching for a home on the internet to begin with. Make the most of this internet boom and get your house sold at a high price with the least amount of effort by using the services of professional property web portal.
For more information on how you can sell your property privately on the internet visit Property Direct From The Owner at http://www.propertydirectfromtheowner.com
Costa del Sol Property - Property Direct From The Owner - Spanish Property
Costa del Sol property is still one of the hottest investment areas for property developers and prices in the most popular resorts are correspondingly high. Demand for Costa del Sol property is as high now as it’s ever been, despite a global downturn in the fortunes of real estate. But despite this, there are still plenty of opportunities for discerning buyers to buy themselves a slice of Spanish sunshine on the Costa and make a sound financial investment into the bargain. Cheap flights from most UK airports mean that the coast is very accessible to buyers and holiday-makers alike and along with fantastic all year round weather and improving infrastructure makes the Costa del Sol a highly sought after retirement and holiday destination for thousands of Brits.
Costa del Sol property is not cheap, particularly in the most sought after beach locations. However, if you are prepared to look a little further away from the major tourist spots and even consider a villa further inland, there are still reasonably priced properties to be found. Property Direct From The Owner http://www.propertydirectfromtheowner.com is a leading for sale by owner (FSBO) and for rent by owner (FRBO) website allowing prospective buyers to contact advertisers directly regarding their property for sale. The Property Direct From The Owner website has properties listed by owner from all over the world with a large portfolio of Spanish properties available for sale.
An important point to consider, like any property purchase, is you cannot perform everything from the comfort of your own home via the internet or on the phone. To make sure that your property purchase is a wise one, it is essential that you visit the locations armed with as much information as possible and plan your purchase carefully.
Spanish property law is very different from UK law, so you will need expert guidance from a qualified, independent Spanish solicitor to negotiate a path through the paperwork. It is also sensible to choose a representative who is familiar with the area you wish to buy in, as they may be aware of any local by-laws or conditions that could affect your purchase. It is also essential that you get to know and trust your representative, as they will be looking after your interests once you return to the UK.
The Costa del Sol has a very large ex-patriot community so spend some time getting to know your potential neighbours. You can get first-hand accounts of the area from these people and if you are planning to make Spain your permanent home you will also be able to gain information about amenities such as medical facilities, schools and transportation links from those who already live in the area. The most popular resorts in the Costa del Sol property band are in Benalmadena, Fuengirola, Torremolinos, Marbella, Mijas and Nerja. Property prices here are at a premium but if you have the Money to spend and would prefer to live in an area with a large ex-pat community, there are still properties available in these resorts. Check out the Property Direct From The Owner website http://www.propertydirectfromtheowner.com for more information on property in these areas. Properties with ocean views command the highest prices, whereas villas a little further inland, but still with fantastic mountain vistas and luxury facilities, are much more affordable than the highest priced oceanfront properties.
In recent years, property in the Costa del Sol has become increasingly popular amongst Spanish buyers and as a result competition for the choicest properties has become fierce. By employing a local representative who knows the area, you have a far greater chance of finding your dream Spanish villa in the Costa del Sol. They can ensure that all paperwork is completed as quickly as possible and that all-important deposit is paid in time to secure your property.
For more information on how you can advertise your property for sale and/ or rent visit the Property Direct From The Owner website at http://www.propertydirectfromtheowner.com
Selling A Property Yourself - A Guide To Selling Your Property With Property Direct From The Owner
1. What are the benefits of selling my property myself?
By selling your property yourself you avoid paying any estate agents commission which can amount to thousands and thousands of pounds.
2. Do I need to use an estate agent?
By all means list your property with an agent, however this is not essential when it comes to selling your property. More and more property owners are looking for alternative mediums to expose and sell their property. The internet is a huge portal for property and more and more property owners are choosing to advertise this way in an attempt to reach out to a new audience which your traditional high street agent does not have access to. FSBO (For Sale By Owner) websites such as Property Direct From The Owner allow property owners the chance to expose their property to a different audience and all with no commissions to have to pay once the property is sold.
3. Why should I advertise my property with Property Direct From The Owner?
Over 70% of property buyers actually first view the property they end up buying on the internet in the first instance. Advertising on the Property Direct From The Owner website gives your property much greater exposure and in the process makes the property more accessible to a greater spectrum of buyers thereby increasing its chances of being sold. When you sell your property via the Property Direct From The Owner website you have no sales commissions to have to pay.
4. How much money could I save by selling my property direct?
Commissions on overseas properties, whether off plan, resale, brand new etc can be very high. In Spain, Portugal and many other countries in Europe, estate agent commissions generally vary between 5%-8% of the property price. In some countries they can be as much as 10% of the purchase price, so owners and buyers can save a considerable amount of money by dealing direct.
5. How will I receive enquiries?
It is entirely up to you. You can receive enquiries by email, via the Property Direct From The Owner website or, if you wish, be contacted directly by telephone by a prospective buyer.
6. What information on my property will I need?
A detailed description of the property is a good start with information on number of bedrooms, bathrooms along with information on the surrounding area and what your property has to offer to a buyer. You can upload up to 21 photographs to your advert to showcase your property’s qualities as well as a google map to pin point its location.
7. How do I decide on a sales price?
Find out what similar types of properties are being advertised for and have been sold for in your development or surrounding area. You can do this easily by searching on the internet or contact us for help and advice.
8. Do I need a solicitor?
It is a vital you appoint a solicitor to deal with the sales transaction. Your lawyer can advise you on the sales process, look into taxation and any information required from the land registry. Your lawyer will also be in the best position to instruct you on when are where any monies should be deposited for the sale of the property.
9. What do I do if the potential purchaser wants to arrange a viewing?
If you are in the country itself where the property you are trying to sell is then arrange a convenient time to suit with your prospective buyer when contacted. If you do not live in the country where your property is perhaps a friend or a property management company would be available to grant access for viewings on your behalf.
10. Who will finalise all the sale arrangements and deal with the actual sale?
Once an offer has been submitted to the property you are trying to sell then your lawyer needs to be involved in order to begin the sale process and to finalise all the sale arrangements.
11. Can you add my property to your website for me & how much will it cost?
We will happily add your property to the Property Direct From The Owner website on your behalf for no extra charge. It costs £99 to advertise your property on the Property Direct From The Owner website for 12 months. There are discounts available for multiple listings. Visit the Property Direct From The Owner website for more information on contact us directly to discuss.
12. Where do you advertise?
We are very proactive with our advertising and we have to be as you are entrusting us to find a buyer for your property through our website. We spend a large portion of our marketing budget on SEO and PPC advertising as well as appearing at exhibitions and features in leading property magazines (Living Spain, The Good Property and Holiday Guide).
Renting Your Property - Property Direct From The Owner
1. What are the benefits of renting my property myself?
By renting your property yourself you avoid the need for a rental agent or holiday booking agent and so save on all rental commissions.
2. Do I need to use a rental agent?
The days of wandering into a high street travel agent to book accommodation for your overseas holiday are long gone. The internet is a huge portal for rental property and more and more holiday makers are choosing to rent property this way. FRBO (For Rent By Owner) websites such as Property Direct From The Owner allow property owners the chance to advertise their property to the holidaymaker.
3. Why should I advertise my property with Property Direct From The Owner?
The internet has become the preferred way over the last 15 years to search for and book holiday accommodation. With no commissions or booking fees to have to pay a rental agent it makes sense to advertise your property on the Property Direct From The Owner website, deal directly with any rental enquiries and keep 100% of the income.
4. How much money could I save by renting my property direct?
Some rental agents will take between 10 and 25% of the weekly rental rate for securing you a holiday booking. If you have a property that is generating between 15 and 25 weeks of the year in rental bookings then you are giving away a significant chunk of your rental income to an agent.
5. How will I receive enquiries?
It is entirely up to you. You can receive enquiries by email, via the Property Direct From The Owner website or, if you wish, be contacted directly by telephone by a holidaymaker wanting to rent you property.
6. What information on my property will I need?
A detailed description of the property with information on number of bedrooms, bathrooms along with information on the surrounding area and what your property has to offer to the holidaymaker. Be sure to include information such as if your property is walking distance to shops/ bars/ restaurants etc as this can be a good selling point or to include if a car is a necessity for a holidaymaker’s stay. An availability calendar is worthwhile for a holidaymaker to be able to check on availability. You can upload up to 21 photographs to your advert to showcase your property’s qualities as well as a google map to pin point its location.
7. How do I decide on my rental rates?
Do some research on what similar property in your urbanisation or in the area that your property is located in. You can easily do this by searching on the internet. There is no point advertising your property for a few hundred pounds per week more that the adjacent property in your block. Holidaymakers do their own research also before booking and are as keen on a bargain as you are on their business. Perhaps look at offers to entice the holidaymaker to your property at quieter times of year. 60% or 70% of something is better than 100% of nothing.
8. How should I request payment for rental bookings?
It is not a bad idea to request 10% to 20% of the rental fee up front to secure the booking with the balance to be paid in full before arrival. In terms of receiving payment we would suggest bank transfer or a secure payment system such as PayPal.
9. How do I arrange cleaning of the property and key handover?
If you live in the country where the property you are trying to rent is, then you can either undertake/ arrange the cleaning yourself along with key handover/ meet and greet also. If you do not reside in the country where the property is then you’ll need to employ a property management agent to handle things such as key handover and cleaning.
10. Should I charge a deposit for holiday rentals?
Yes. A deposit can cover things such as damages to the property and breakages. You may have contents worth thousands in the property and it is not feasible to charge someone or a group thousands of pounds as a deposit. This may well put people off from staying in your property. A deposit tends to be an amount that the individual or group would not want to walk away from at the end of their stay, typically a few hundred pounds but this is left to your own discretion.
11. Can you add my property to your website for me & how much will it cost?
We will happily add your property to the Property Direct From The Owner website on your behalf for no extra charge. It costs £99 to advertise your property on the Property Direct From The Owner website for 12 months. There are discounts available for multiple listings. Visit the Property Direct From The Owner website for more information on contact us directly for further information.
12. Where do you advertise?
We are very proactive with our advertising and we have to be in order to find holidaymakers for your property through our website. We spend a large portion of our marketing budget on SEO and PPC advertising as well as appearing at exhibitions and features in leading property magazines (Living Spain, The Good Property and Holiday Guide) exposing your holiday accommodation.
Sell Your Property With Property Direct From The Owner
SELL YOUR PROPERTY WITH PROPERTY DIRECT FROM THE OWNER
If you own a property and you would like to sell your property then advertising with Property Direct From The Owner is a must - exposure for your property with NO sales commission! We advertise property for sale direct from the property owner so, as an owner, you can receive enquiries from prospective buyers and cut out the need for an estate agent. Deduct the sales commission an agent would take from your asking price and make the property you are trying to sell an even more attractive proposition for a buyer. Save thousands in agent commission after all, you know your property best!
Commissions on overseas properties, whether off plan, resale, brand new etc can be very high. In Spain, Portugal and many other countries in Europe, estate agent commissions generally vary between 5%-8% of the property price. In some countries they can be as much as 10% of the purchase price, so owners and buyers can save a considerable amount of money by dealing direct. The internet has become a fantastic medium to advertise your property for sale with over 70% of property buyers actually first viewing the property they end up buying on the internet. Advertising your property on the Property Direct From The Owner website gives it much greater exposure, making the property more accessible to a greater spectrum of buyers thereby increasing its chances of being sold. Selling property couldn’t be any easier or cheaper!
The process of selling your property with Property Direct From The Owner is a simple one. Firstly create an account and then put together a detailed description about your property. You can upload up to 21 photographs in order to show off your property and its surrounding area as well as a google map to pin point the location of the property. Alternatively send us your property information and we will happily create the advert for you free of charge. Base your asking price on the value of similar properties in the same development or in and around the area that your property is located in. The internet is an excellent medium for obtaining current market sales price information.
Once your advert is live you, as the owner, can decide how you wish to receive enquiries for your property (by telephone and/ or email). Once contacted by an interested party you are in the best position to describe the qualities your property possesses and to arrange any such viewings. If you do not live in the country where your property is perhaps a friend or a property management company would be available to grant access for viewings. Once you have negotiated your sale price with your prospective buyer it is essential you get a lawyer involved in order to conclude the sales transaction. Your lawyer will be able to provide you with the necessary information on selling your property along with tax information. Once your property sale has been concluded you will have the satisfaction of knowing you have saved thousands of pounds an agent would otherwise have taken.
Villa Rentals In Spain Property Direct From The Owner
Villa rentals in Spain, booked direct, are increasingly popular as people have less money to spend on their annual holiday. Holidaymakers have discovered that self catering apartments to rent in Spain can provide a great base for a budget beach holiday where you only really need somewhere to sleep! Alternatively, villa rentals in Spain booked direct with the property owners may mean that you can afford a luxury villa, possibly with a private pool. One of the leading FRBO (For rent by owner) websites is Property Direct From The Owner http://www.propertydirectfromtheowner.com where people looking to rent a holiday home can search hundreds of property throughout the world and contact the owner of the property directly to secure their booking.
Villa rentals in Spain, rented directly from the private owners, are ever popular with families, especially those with young children. One of the key features of a villa holiday is the amount of space and freedom you get. You are not tied into hotel mealtimes and with a villa you often get outdoor facilities like barbeques and covered terraces where you can dine al fresco. You may even get your own private swimming pool where the kids can shout and splash about without annoying anybody else!
Villa rentals in Spain or self catering apartments to rent in Spain direct can have many other benefits. Most owners of holiday properties are usually keen to pass on any information which will help you to enjoy your holiday more. This might be tips on the best places to eat out or the easiest way to get around the resort. Many owners also like to make their visitors’ stay as comfortable as possible by providing home comforts like DVD’s, CD’s, board games, books or even toys. Often starter packs of groceries are provided, one of the little touches which make you feel very welcome on your apartment holiday in Spain.
Spain is the perfect destination for a luxury villa rental or an apartment holiday rental with the family. When you are booking your apartment holiday in Spain or villa rentals in Spain, don’t forget to book your travel insurance. Shop around to find a good price and the right product rather than travelling without cover or just taking the cheapest policy. You normally get what you pay for with insurance so cheaper policies will usually have less cover. If you are confused by all the different policies that are available consult a reputable broker who will be able to advise you on the type of cover you require.
Search for property to rent with Property Direct From The Owner at http://www.propertydirectfromtheowner.com
Property Direct From The Owner www.propertydirectfromtheowner.com
Property Direct From The Owner http://www.propertydirectfromtheowner.com is an internet based worldwide property portal allowing owners of international property to list their property for sale and/ or with no commissions or booking fees to have to pay. Paul Wilson, Marketing Manager at Property Direct From The Owner says, ‘The overseas property market has taken quite a hit over the last few years with investor confidence low. However there are still buyers out there looking to capitalise on a slow marketplace and snap up a bargain’.
When you are deciding to sell your property it is always an idea to make the property a potential purchase to as many buyers as possible. One of the best ways of doing this would be to present the property as if it were a blank canvas on to which a potential buyer can stamp their own individual tastes. Below are provided a few simple rules which may help you obtain that sale of your property without too much effort or cost to yourself.
Wherever possible try and depersonalise the property as much as possible, such as putting away any photographs that you have of yourself and your family and try only to leave out a few essential items on show in each room, which will hopefully still show the property as a family home, but will give the illusion of space. Also if possible try only to have a select number of pictures/paintings on the walls. This will also help to give the illusion of space in a room.
An idea that some people say helps when they have people in to view their property is to make it smell homely. They suggest that you either have freshly baked bread or coffee that has just been brewed in the kitchen. However, if you don’t have time to do this then just ensure that you make the rooms smell as nice as possible. There are number of good quality plug in air fresheners on the market that will provide a pleasant smell to the potential purchaser when entering your home.
Also if you have pets then make sure that wherever possible you have been able to neutralize the smells that they produce. You should remove their bedding from the house before a viewing starts and purchase a good quality air freshener that will eliminate the smells.
Finally, if you are able to arrange for your carpets or floors to be cleaned, either professionally or hire a carpet cleaner (these can be rented from most supermarkets and dry cleaners nowadays at a very reasonable cost). If you are able to, keep the colours of the house as neutral as possible, this will help to make the rooms look both larger and brighter. Unfortunately bright colours and dark colours although may be too your taste may not be the preferred option of your potential buyer. Also by having a neutral colour scheme throughout the property you are able to provide your potential buyer with a blank canvas onto which they can stamp their own preferred styles.
It is always good to ensure that your house looks and smells clean. People when viewing a property have a habit of sometimes looking everywhere in the property (this includes cupboards, drawers, toilets and baths). Always make sure that you toilet is clean and that if possible a toilet block has been placed in it, which will not only clean the toilet after each flush but also make the room, smell nice. If you find you have limescale around the taps, the bath and the toilet, make sure that this has been removed (there are a large number of products on the market which would be able to assist you with this matter). It also helps the potential buyer to see that you have maintained the property well. Any wood surfaces should be either wiped down with a damp cloth or polished to remove any dust from the surface. Also the same should be done for any items such as TV’s and home entertainment systems including the stands that they are sat on.
Windows wherever possible should be cleaned and a good way of getting clean windows, if you do not want to pay a window cleaner, is to fill a bucket with warm water and vinegar. Use a cloth to wash the windows in the water and vinegar and then use newspaper to wipe the water off. You will find that this leaves your windows streak free.
One of the first things that you should make sure always looks good is the front entrance to your property as this is the first thing that a potential purchaser will view when approaching the property. Therefore ensure that you keep the front of the property clean and well maintained. The more kerb appeal your property has the more likely a potential purchaser will be keen to enter the property to view it. If you have any plants at the front, ensure that any dead ones have been removed, the lawn is kept neat and tidy and if you should have a driveway make sure it is in good repair, potential purchasers will not want to be thinking about money they will need to spend on the property if they decide to purchase it. Many times problems like this could give your potential purchaser the chance to lower the asking price.
The rear of the property should also be shown in a clean and tidy state, make sure that the lawn is neat and well kept, and if you have a patio area keep it clean and tidy. Any pots that are broken should be removed and the same should be done with any dead plants. Make sure that any fencing is well maintained and if it is broken then replace it. A few pounds spent on keeping this in order could mean that extra money on the sale of the property.
For more information on how you can list your property with Property Direct From The Owner visit their website at http://www.propertydirectfromtheowner.com
Distressed Property Sales - Spanish Property - Property Direct From The Owner
If you have witnessed the plethora of signs announcing “Distressed Property Sale” that are appearing everywhere referring to distressed property for sale in Spain, then I speculate that maybe you may have been intrigued enough to look into a potential acquisition of a property for sale in Spain yourself? Prices of property in Spain are tumbling just as they have done in the United Kingdom and often they are falling at a greater rate. The financial problems of many Brits who bought a property in Spain for their retirement is compounded by the feeble exchange rate of the Pound to the Euro. This is a double edged sword that is bringing great distress to many retired Brits who have no choice but to list their property in Spain for sale and prepare to return home. Property Direct From The Owner http://www.propertydirectfromtheowner.com is an internet worldwide property portal allowing property owners to list their property for sale and/ or rent and have no commissions of fees to have to pay when the property is sold or rented.
There are many reasons for the proliferation of distressed property for sale in Spain. It took just three months starting in Oct 2008 for the Pound to lose nearly 30% of its purchasing power in Spain as it tumbled against the Euro from almost 1,3 down to just over 1 Euro/ Pound. Some Brits who retired to their own property in Spain found that they could no longer afford to live there as the value of the Pound slid. This particularly applied to those whose income was derived from the UK, whether a UK pension or rental income from a home rented out in the UK.
Even worse off are people who acquired a property in Spain on the back of a Euro loan, expecting property prices to continue to rise and are repaying the loan from their UK income denominated in GBP. In some cases the property has been repossessed by the bank or mortgage company and put up as a distressed sale because the owner could not keep up the payments. Paul Wilson, Marketing Manager at Property Direct From The Owner http://www.propertydirectfromtheowner.com comments, ‘We have had a number of property owners in Spain choosing to list their property via the Property Direct From The Owner website whether it be a distressed property sale or in an attempt to generate an income via rental. Whilst the market in Spain is still slow, thankfully we have managed to generate enquiries and interest for Spanish property for our clients’.A combination of massive property oversupply alongside the general economic downturn has meant that prices have literally crashed on Spain’s Costas and as we speak over a million unsold properties are on the books of hapless local agents in Spain, although many of these have been constructed with Spanish buyers in mind. Of course the British have always been purchasing property in Spain since the 1960’s and their passion for the Costa Del Sol and especially Marbella always was a first choice. More recent investors in property in Spain, even if their property has not been designated as a distressed property for sale, may still be distressed themselves. Not realising the enormous profits that the early comers made, these late-comers could well be finding that they made a huge error.
All clouds however have a silver lining. Today you can buy at the cheapest prices we are likely to witness. As the fall in property prices levels out and banks allow developers to remortgage projects, the Spanish market is witnessing confidence return. The number of distressed property sales in Spain could be set to stop increasing as Estate Agents in Spain are increasingly expressing confidence that the fall in the market is now stabilising. There is nothing novel in below-market deals, but the critical monetary position of many builders, financial institutions and property owners is pushing more sales into the distressed sale class which in turn means that further deals are being completed below real prices rather than merely at a reduction to the asking price.Experienced investors have been persuaded to seek for and obtain low, mid and high end finest distressed property at a price truly below their open market value by the mix of a severely restricted means to get to money and falling property prices in Spain. With the new trend in all-found holidays declining and more of us preferring to hire our own living accommodation and as a result have an independent holiday, the rental marketplace for up-market houses is booming. This further builds a case to mull over buying a house overseas, although the hire earned on holiday lettings seldom recovers the complete yearly mortgage payments and running expenditure so prudent cost planning is suggested.
As any savvy investor will advise you, it’s the rate that you pay instead of the rate that you sell for that really dictates the earning ability in many a property deal. Marbella in southern Spain is a real case in point of a ‘lifestyle’ investment choice, fundamentally a holiday home that can provide a fabulous centre for personal vacation and that will be retained for at least 5 years.
For those of you who are well-off enough to be able to put up a deposit of approximately thirty to forty percent on a distressed property investment in Spain and who can access the know-how of the leading consultants, lawyers and banks, today in fact is an opportune occasion to purchase a magnificent property in a distressed sale position for up to fifty per cent lower than the existing market price, and crucially enjoy their investment in the sun. This 50 percent price cut on particular properties is down to the fact that they are heavily discounted by the title-holder (or the bank if by now repossessed) by a considerably larger sum than the median price decline in Spain. This is in point of fact an opportunity for the new investor to advertise the property nearly immediately at a higher price.
For more information on how you can list your property for sale and/ or rent or indeed to view property directly with the owner visit the Property Direct From The Owner website at http://www.propertydirectfromtheowner.com