Hot Property in Majorca
Copyright (c) 2008 Phillip Booker
This is great news for investors. The fluctuating exchange rate has caused many to abstain from buying property in countries using the euro. But for the astute buyer this moment in time is causing the seller some anguish.
There are fewer better times to buy than when the seller is desperate.
Whatever the reason the seller is desperate is really no concern for the buyer, other than offering sympathy and understanding. Nonetheless such anguish and confusion could amount to 100,000 Euros.
Allow me to explain with an illustration... One particular family cam to buy a villa in Majorca; their business was good, their income was good, their life was all sweetness and light. A holiday home was a natural extension to their new found wealth. Four years later the business has taken a turn for the worst and needs a capital injection. The only asset they choose to sell is their villa in Majorca.
As everyone is talking about doom and gloom on the European property market they pitch their villa price 50,000 Euros lower than the general market value. When people view the villa they sniff the desperation and put in offers lower than the asking price. The property was purchased and 525,000 Euros and four years later valued at 595,000. They put the villa on the market at 545,000 only to receive offers at 475,000. Anguish and confusion followed.
Then when someone put an offer in at 492,000 they accepted.
Of course across the rest of Europe this set of events may take 6 to 9 months, but here in Majorca it took two weeks. They completed the sale 7 weeks later. They achieved their objective to get some cash back into their business but lost out on over 100,000 Euros on the market value.
Had they asked the market value of 595,000 they would have eventually sold it before the years was out. The buyer got a real bargain!
Majorca remains a buoyant property market when the rest of Europe is in a flux. Even when we have this fact and know that asking prices are generally being met, there are desperate sellers amongst them who are willing to accept lower offers.
An astute seller of course would put their property sale on hold until the market across Europe improves and the confidence returns to buying property abroad. So an observation at the moment is that anyone with their house up for sale has room for a accepting a lower offer.
Sensible buyers would see this situation as an opportunity to buy property in Majorca at discount prices.
Related Tags: finance, finance articles, finance articlem, free finance article
Senior Property Advisor
Buying Property in Majorca
Providing many Properties not previously listed on the internet
Recent articles in this category:
- The Secrets to Getting Low Down Payment Car Insurance
Upon purchase of a new car, there is almost always a requirement to buy an auto insurance policy as - The Wisdom Behind Auto Insurance Comparison Quotes
No one in his right mind would not go for a good deal. In fact, everyone is out on their feet and ru - The Benefits of Auto Insurance Comparisons Florida
Insurance can be expensive. This is something everyone knows about especially in the sunny state of - Auto Insurance Florida: The No-Fault Policy
There are different kinds of car insurance offered by a wide range of providers today. Different sta - Finding the Cheapest Auto Insurance Companies
Everyone is asking and searching for the cheapest auto insurance companies available today. Consider - How do You Compare Private Health Insurance Cover in Australia?
Deciding what is the best and most affordable private health insurance cover can be easy if you take - How Payment Protection Insurance Was Mis-Sold
For over six years the issue of Payment Protection Insurance (PPI) and how it was mis-sold to custom - Finding Quotes For Auto Insurance Online
One of the many concerns when you are shopping for auto insurance is being able to get access to quo - How You Can Find the Best Auto Insurance Online
When it comes to renewing your car insurance you are going to quickly discover that there are a numb - Guidelines For Searching For Auto Insurance Online
The internet can be a great source of discounts and values related to auto insurance. However, many
Most viewed articles in this category:
- Trading Forex With Pivot Points
Forex Pivot Point Trading are used today by Forex Traders and are calculated on the previous days mo - Where To Search For Free Grants
Where do you look for free grants? The search must be thorough or it could be an exercise in futilit - The Connection Between High Blood Pressure and Salt
We are a society of Salt Addicts. It cannot be denied. When you look at the things we do and the pla - Tips For Avoiding HYIP Scams
Before knowing about HYIP Scams, refer to the functioning of HYIP or "High Yield Investment Programs - Getting Credit After Bankruptcy
Consumers do not have to live sans credit following a bankruptcy. By following certain steps consume - Tips For Choosing A Credit Card
Are you looking for that perfect credit card? If so, you may be confused about what exactly to look - Cheap Car Insurance For Teens Online
Many elements determine a car insurance policy. Car insurance companies look at the person's age, hi - What Exactly Is Free Grant Money?
You can apply for free grant money from various government agencies. But where exactly does this mon - Small Business Owners Marketing and Customer Service
Marketing can be time-consuming, but it doesn't have to be hugely expensive now, thanks to the Inter - Apply Online For A Credit Card - How To Choose A Card?
The best type of credit card for you will be dependant on how you intend to use the credit card. Are