Spain Property Insight

In fact,often times these repossessed homes can be acquired at price of 20%_40% lower than their market value.Often times buyers can find a perfectly good repossessed house for an amazing price,including apartments,condo,houses and even commercial properties.

Further to your point, if you speak directly to a local bank in the area that you have chosen and asked to see their portfolio of properties, they can often come to a very attractive agreement on any mortgage that may be required. A number of Banks are also offering pretty good rent-to-buy deals in order to liquidate their portfolio. http://www.tumbit.com/how-to-guides/property-and-accomodation.html

Capital Gains Tax will be payable on the difference between the sale price and the purchase price, less sale and purchase fees. You have an anual exemption of £10,100 and tax is charged at 18%.

prices crashing far lower than any down trend in exchange rates so where are the people that dreamed of retiring and heading to the sun

Speaking on behalf of the British Population ….

1) The Euro/Sterling exchange rate is so poor that the amount of sterling required to purchase a property means that, in real terms, prices are not as low as you might think.

2) The vast majority of those moving to Spain are either retired, or reliant on a small pension or other income from the UK - and again, the exchange rate means that the cost of living is nowhere near as cheap as it used to be.

it looks like some owners seem to be at the desperate stage in trying to sell their property i have notice several villas dropping over 100000 euros
even though the pound v the euro is poor ,do you think it would be a good time to buy ??

or

do you think it would be wise to hold back and see if the pound becomes stronger ??

Blue, I consider myself highly experienced in making all the wrong decisions when it comes to buying properties in Spain. My many mistakes prompted me to research this matter in depth and create a website on this subject ( http://www.tumbit.com/ )
My advise would be that sure, there will be many bargains out there, but equally so there will be many melons on the market aswell. Don’t let the cost of a property let you make any rash decisions and above all else take appropriate advise from an experienced and professionally qualified source - don’t cut corners here - there are factors that need to be considered that would not even appear on your radar in the UK.

If you are an estate agent in Spain, then you will not need to be told about internet marketing because you probably get enquiries every day from companies telling you how they can provide leads through this portal or that. Spinning you with figures about how many hits their website is getting and their page 1 ranking for this key phrase or that keyword.

To the novice, this all sounds too good to be true and can be a little daunting. The jargon of the internet only becomes aware to those of us who use it, when you try explaining something to your grandparents and get a blank faced response of ‘Yes Dear’. It’s a humbling experience!

So lets explode a few myths, explain some jargon and give you, the estate agent, the tools required to ask the right questions, so that when you are spending your money on internet related exposure, you are getting the right exposure, in the correct market to attract the buyer clients you want.

I am using the Costa del Sol as an example, but is good for most property markets in Spain.

The first question to ask is where do your clients come from?
On the Costa del Sol the largest proportion of buyers come from the UK. So the market you should be targeting exposure in should be the UK Search Engines of the major companies. As Google owns about 70% of all the search traffic then we will focus on Google, but do not dismiss Yahoo and MSN who carry the majority of the rest. 30% is still a lot of traffic.

If you are searching on a computer in Spain and type in Google you will be sent to Google Espana, the Spanish version of Google. This is the most common mistake most people make. These results are NOT what people in the UK see when looking for Spanish Property. This is not the version of Google you will find if you type in Google from a computer in the UK. The results from any search will be different on Google Espana where the majority of searches are for words and phrases in Spanish.

To check the results on Google UK, you need to specify www . google . co. uk . This will give you the results that your buyers are looking at and is where you will need to be seen if you want to attract their business.

The second question is how does the potential website that is after your money rate in the scheme of things.
One of the best comparative measures is the Alexa ranking of a website. Alexa(dot)com ranks millions of websites and rates them in terms of worldwide traffic. The LOWER the alexa ranking figure, the more important the website is, in terms of the amount of visitors it receives.

One note of caution. When you compare websites in terms of the amount of traffic they receive, be sure that the website is property only related. A website that acts as a directory for everything Spanish may have lots of traffic and a good alexa ranking, but if only 5% of that traffic is looking for property with 95% looking for the best place in Spain to buy a toothbrush, then…. well you get the point I am sure.

The other measure of traffic is the number of unique visitors a website receives. This is NOT the same as the number of hits a website receives. If fact I would be bold enough to say that anybody that tries to sell you something on the back of the number of hits their website receives should be dismissed immediately. Why?
Well, a hit on a website page counts the number of images exposed on a web page and is not a reflection of the number of people that visit that page.

A webpage may have 25 pictures or other images on it. Every time a person visits that page it will register as 1 unique visitor or 25 hits. People who sell on the back of their hits per day figures are trying to mislead you and blind you with zeros.

Unique visitors on the otherhand will give you a good indication of how many people are visiting any particular site. Add to this the average page views per visitor, a figure that shouls easily be available in this day and age of Google Analytics and you are well on the way to getting an understanding of which websites matter and which don’t.

Neil Ebsworth
http://www.articlesbase.com/non-fiction-articles/where-to-market-property-on-the-internet-and-why-some-simple-rules-137481.html

I found somebody who wants to consider a house swap with me - her property in the UK and mine in Spain. We both have a mortgage on our properties - mine is higher, but so is the property, much bigger. I know there are advantages for first-time buyers in the UK - what are these?

I appreciate fellow Yahoo pals’ input on this - thank you in advance!
Kind regards, Lucia

I strongly suggest that you speak with an accountant both in the UK and in Spain to find out exactly what your tax liabilities would be in each country before you agree to anything. I strongly suspect that it will not be as easy and straightforward as you hope and expect. I know that there can be benefits of doing this when both properties fall within the same country, but I would advise caution on this one !

The main ones in Spain are:

http://www.idealista.com/pagina/portada (the largest)
http://www.segundamano.es/ (the largest for all kind of ads)
And fotocasa, which has already been mentioned.

Never heard of the others.

Recent civil works replaced long standing upstream culvert under road with 2m dia pipe. When in flood, water now jets from open end onto bank causing massive erosion and collapse of paved areas. Authorities are slow to respond. Any ideas on best way to proceed?.

Unless it effecting your property there will be little that you can do.. Must be a very high flow rate to jet out of a 2m pipe.. Usually a 45 degree nozzle is placed on the outflow end to direct the flow down. Have you approached the local council. Sending a picture often helps them understand. Contact the local news paper and make an issue of it. That often helps. Damage costs money and is best avoided. When in Spain the rain can be a pain..Have a good day.

We have always known that investing in bricks and mortar is normally the most lucrative and wisest investment you could ever make. However, with the continuing price rises in the UK many are looking abroad to buy an investment home and future nest egg. Spain has always been first choice for many, with year round sunshine and relatively cheap cost of living. Nevertheless, what do we buy and how? Tony Roberts reveals the secrets to buying property here and offer his ten top tips on making the right investment.

When we bought our first property in the Costa del Almeria, we broke every rule and guideline. We bought impulsively whilst on holiday, having done no research whatsoever. We dealt with an estate agent who we later discovered had a rather colourful history, we bought off-plan without ever visiting the site, we did not use a lawyer and so the list went on. It was very exciting and we were incredibly lucky. However, do not push your luck follow these guidelines. Get it right and you will have a wonderful asset that will give you and your family enormous enjoyment over the years as well as creating greater wealth.

1. Get the help of an Estate Agent

Your first step should be shop for a good estate agent, not shop for a property. Estate agents are necessary in the UK and in most other countries; you cannot afford to be without one. Get yourself a good one, look at the websites; a good one will seem genuinely concerned about informing homebuyers, check out the testimonials. A reputable agent will help you to find the right property and take the headache out of property searches especially if you do not speak the language. However, a warning, think hard before going it alone without the help of an estate agent. In reality, buying privately will mean months of chasing people and worrying that you have not done everything you should. However, if you do buy privately, then be very careful.

2. Nothing beats good legal advice

As with using an estate agent to look for the right property, make sure you have the right lawyer when making your final purchase. A good agent will recommend a local lawyer who speaks English, who knows the area and all its regulations. It is amazing how many people are willing to buy something abroad without the use of a reputable lawyer. It is something they would never dream of doing in the UK.

3. Location, Location, Location

Remember the words of hotelier Conrad Hilton who, when asked what were the three keys to success, famously replied, Location, location, location. Fifty years later not only is it still true for the hotel business, but also for buying a home with resale value.

As in the UK, where you buy counts just as much as what you buy. Narrow your location choices to just a few places and think of resale value when considering a property, and will it make a good rental? Make sure necessary shops and services are located nearby and try to make sure surrounding properties are of a similar standard and size. In addition, try to get something located near the town. Remember, buying the least expensive home in the best location is better than buying a beautiful home in an undesirable location.

4. Do your homework

Buying property abroad is an exciting experience; however, one of the biggest mistakes investors make when it comes to buying property in a foreign country is failing to do their homework. You cannot do too much research into an area. Spain is a big place so first settle on a region. If it is unknown to you, try to visit the area as many times as possible so you can glean more than just one impression. Looking for property online and in newspapers and magazines should always be part of your strategy as it vastly increases your chances of finding what you want. If you are looking for property online, begin by making your initial searches as broad as possible. You can always narrow your searches later. Careful local research before you commit to buying can save much heartache later.

5 Stay Focused and do not be hasty

Stay within your budget and keep focused on what you originally had in mind, it is all too easy to be tempted to buy something that is not what you really want. While you want to cast your net as wide as possible so that you do not miss your dream home, you do not want to be wasting time viewing property that is wholly inappropriate or completely unaffordable.

Therefore, you should draw up a realistic and accurate wish list. However, you must go looking for your home with an open mind. You will soon realise that it is virtually impossible to find exactly what you want, so you may need to compromise on some issues, you prioritise your requirements.

6. Know why you are buying

Make sure you know why you are buying and what it is that you are seeking to achieve with your purchase. Is it a holiday home, a residential home or an investment. Are you looking for short-term gain or regular long-term income?

If buying for investment, it is vitally important that you understand the risk factor and you are comfortable with it.

7. The bigger house is not always the better.

In any residential development, houses vary in size but if you are looking for maximum resale value do not always choose the largest house on the block. When determining market value, the homes nearest to yours are most important. If most of the nearby homes are smaller than yours then they can act as a drag on appreciation. On the other hand, if you buy a small or medium house in the development, the larger homes can pull yours up in value

Do not assume that the more bedrooms you have the better the property is. Two and three bedroom properties have the quickest sell-on value and you should try to stick with this when buying. Two bathrooms are necessary and as most will tell you, a large kitchen is the heart of the home.

8. Money, money, money

The simplest fact is can you afford it? Stay within your budget, consider what you are buying, and allow for extras. The cost of buying a property in spain is much higher than in the UK, (VAT, lawyer’s fees, and taxes), so you must budget accordingly. Consider the pros and cons of buying abroad and always factor in costs including existing commitments and future expenses.

Buying a home is a rewarding experience but remember to invest in the location of your home first. Research is key in buying abroad and you have to have patience and time when making such a huge investment. If you remember that location is the primary factor in property, your money will continue to grow through the years and earn you your share in the property world.

9. Check the transport links.

Make sure there is a choice of budget airlines, and if possible more than one airport. Check out the road infrastructure. People who rent property will want somewhere that is easy to get to and will often be attracted to those places with a nearby airport served by low cost airlines. Budget airlines have opened up huge areas of Europe, but do not assume they will always be there. What would happen should the airline close down the route?

10, Check the taxation and inheritance laws

Make sure you understand the tax implications involved should you decide to sell. In addition, if you want control over how the property is dealt with on your death and avoid any restrictive rules, then check out the inheritance laws, it is likely that you may need two wills one for any assets in Britain and one covering your property and savings in Spain.

tony roberts
http://www.articlesbase.com/ask-an-expert-articles/ten-top-tips-to-buying-a-property-abroad-82153.html

If you want a home for the summer, something to rent out for extra income, or a place to retire than look no farther than real estate Torrevieja. With it’s close location to Alicante, you can’t loose in this pristine spot. When you buy a property in Torreviaja, Spain you will not be making the wrong choice. Torrevieja is a lovely tourist destination where you can spend the winter and rent out your place during the summer with no problem!

If you want to rent out a property or buy a property to live in then you should go to Torreviaja several times before you make your final decision. You will need to see the difference between villa life and apartment life before you settle down and pick out something right for you.

You should explore different parts of the city and the outlying areas when you are in Torreviaja. This will help you know the different areas that you may want to buy something in and you will also know the areas to avoid when you are on your search. You should also visit during different seasons so you can get a vibe for the different times of year.

You will want to note all the amenities and different things located on and near your property. Are you close to the shopping area or hot places to eat? Do you want to be near the beach and boost your rental value? Will you be living there or renting it so do you need something warm for the winter to live in?

If you want to live there all year round then you want to make sure that it is warm enough in the winter and cool enough in the summer. If you just plan on using it for summer rentals then you don’t have to worry about the winter months and the heating situation. Is the property on a high floor where you will need to carry things up and down it regularly? Could this be a turn off to you or renters?

You need to shop around for loans to get the best deal for your money. The prices of homes in Spain are not as cheap as they used to be and you’ll want to make sure that you can qualify for a good loan before you get to serious about buying a place. Compare Spanish loans from loans in your home country.

If you choose to go for a loan in Spain, then you will want to be familiar with the laws about real estate in Spain. You can hire a lawyer who speaks both English and Spanish to help you with your situation. You will need him to help you apply for a mortgage and understand everything detailed in it.

You should also be prepared for all the paperwork that will follow this process. It will all depend on what country you are from, but the basics are usually a copy of your passport, pay stubs, the past three year’s tax returns, statements from your bank, and proof of your income level.

Peter Wilson
http://www.articlesbase.com/travel-articles/spain-is-good-for-real-estate-96016.html