Property Valuations

[Murray]

Hi All,

Not been on for a while. We are in the process of organising our mortgage for an apartment on Phase 1 of Roda. Nearly there - so much in the financial world has changed since we came over in 2007!

We are concerned at what a Spanish mortgage firm will value our property at now for the funds we need. Does anyone know what has happened to the property values in Roda since the credit crunch?

Also, can anyone recommend a good local agent to value our property?

Thanks

[Sandra]

Hi - we have a Phase 1 apartment - we remortgaged 9 months - and it just about held up to the original purchase value - not sure what is happening now.  I think it won't matter what an agent will value - it's how  the mortgage company instructs their surveyors at the end of the day that will count.  Have you tried Henry Slade at La Vida Mortgages (henry@lavidamortgages.com) - he may be able to advise or help on this.

Regards
Sandra

[Murray]

Thanks Sandra, that fills me with a bit more confidence. One person I have been talking to about Spanish properties quoted a 30-40% drop in most areas! That definitely would present us with a problem.

We have a Spanish mortgage broker who said we should have a local estate agent value it to give us an idea (forewarned is forearmed). I googled estate agents in San Javier and loads came up but I would sooner relay on word of mouth. Have you or anyone else at Roda a good recommendation?

Many thanks again.

[chris2181]

Does anyone have an update on the value of properties on United Golf Resort.  We would be interested to know how much the 3 bed apartments are.

Chris & Anne
Phase 1

[Sandra]

Hi, As I said before - there is the book price at which UGR are selling (and will not budge) and the resale price which is a different price.  However with the imminent IT village this might help our prices hold.  It is so difficult to say what is and what is not happening.   At the end of the day the property is worth what it is worth to you ..... other people have different views.  Sorry I can't be more informative on this but I really do think it is a sit and wait and see scenario.

Sandra

[AndyP]

Murcia Property Boom !! 


Well, new airport and hopefully good news after tomorrows Paramount airing in Madrid.


http://www.tumbit.com/news/articles/3848-murcia-property-boom-just-around-the-corner.html