View Full Version : What's a realistic price to pay for a 1 bed on Dinastia or El Mirador, Tenerife?
jogger321
11-04-2012, 10:58
I realise obviously it depends on the size and location on these complexes as i'm curious. Anybody that does even a tiny bit of research these days will realise that the world has changed dramatically on in the ways these complexes could easily be used to gain an income to pay the mortgage or whatever.
Given that the only legal options either appear to be as a long let vehicle or as a holiday home to visit, or indeed a place for the owner to live permanently what sort of prices are apartments on these complexes fetching in todays market given the changed circumstances?
mike in chayofa
11-04-2012, 11:07
I realise obviously it depends on the size and location on these complexes
On El Mirador, all the one beds are the same size, it's only the exterior space that varies ie upper or lower - garden size on the lowers.
As you rightly say ... it's location, location, location within the development.
Same goes for Dinastia, certain blocks get very little sunshine, which may, or may not be important to you. Again it comes down to location and the outlook
One just sold on El Mirador for full asking:
http://tenerifeestateagents.net/el-mirador-penthouse-apartment-for-sale-los-cristianos/
Penthouse unit, one of the best positions on the complex and very nicely furnished.
I listed another on Dinastia recently for 131,000€
http://tenerifeestateagents.net/2-bed-apartment-for-sale-dinastia-los-cristianos/
One of the bigger one beds converted to a 2 bed. In a so-so position with a covered terrace - no interest so far.
I expect prices to come down quite a lot on both complexes unless people STILL dont know about the rental situation (and agents STILL are not telling them....) If you were going to buy on one of those you want to hang on for a real bargain, may take some time but you will get one. Owners are still trying to "escape" at a higher price before everyone realises the true values of some of these apartments. The best ones will still command a premium price (as that first one did) but the others that are nothing special will be going for closer to 110,000€ - 120,000€ in the future.
I dont think prices will fall through the floor as many owners will have a large mortgage to pay off (may even have some in negative equity on there soon.) Plus there is constant demand for good quality properties in this area. Much of this is from people who will use them for 3 to 6 months per year themselves and maybe let friends and family use them at other times but will not be interested in commercial letting due to having all of their own personal effects in there and it being their "home from home." I get plenty of clients like this.
How much can 4 block walls be realistically ?
As much as possible!
Many 1 bed apartments are still hovering in agents windows at100K+. Agents themselves seem uninterested unless you're giving it away.
We're near to self-marketing ours, as we have not yet found an agent with who we 'connect'.
How much can 4 block walls be realistically ?
Just to extend the topic a bit what does everyone think about prices for 1 beds on touristic complexes the lowest advertise price i see on Cristian sur is 140.000 euros and 179.000 the highest which is too much so what way will the prices go on this type of complex.
As much as possible!
Many 1 bed apartments are still hovering in agents windows at100K+. Agents themselves seem uninterested unless you're giving it away.
We're near to self-marketing ours, as we have not yet found an agent with who we 'connect'.
The BOOM is over
We're near to self-marketing ours, as we have not yet found an agent with who we 'connect'.
I spoke to you a few months ago and advised you on price. You said you would phone in March when you were over but I never heard from you.
Self marketing? Good luck with it, many have tried, 99% fail. Owners simply cannot compete with agents on marketing nor do they usually have any sort of realistic idea on how to price.
jogger321
11-04-2012, 18:03
I spoke to you a few months ago and advised you on price. You said you would phone in March when you were over but I never heard from you.
Self marketing? Good luck with it, many have tried, 99% fail. Owners simply cannot compete with agents on marketing nor do they usually have any sort of realistic idea on how to price.
I'm not sure what the procedure for sticking an overseas apartment is on "Right Move" but in the UK although a private individual cannot stick a property on there are "virtual estate agents" that you can go through who will place it on there for you. My friends recently sold a property in the UK using this method and it cost them £420 + Vat on a £500k property. Valued it using land registry figures of recent similar sales.
What I would say is that I admit I be a little different to your typical prospective Tenerife purchase I know exactly what i'm looking for, narrowed it down to 3 complexes even whereabouts on them etc. What I would say Balcony is that if your property was on Right Move and it was what I was looking for, I would have found it whatever even it was a one liner ad
Der...as if we hadn't noticed!
The BOOM is over
delderek
11-04-2012, 19:28
Just to extend the topic a bit what does everyone think about prices for 1 beds on touristic complexes the lowest advertise price i see on Cristian sur is 140.000 euros and 179.000 the highest which is too much so what way will the prices go on this type of complex.
But the general concensus is that the actual price achieved is 20/25% below asking price. So the one at 140,000 may be about right for a touristic complex.
Der...as if we hadn't noticed!
I hope you get "as much as possible" from your "self-marketing"
!
But the general concensus is that the actual price achieved is 20/25% below asking price. So the one at 140,000 may be about right for a touristic complex.
The properties I sell generally go for between 90% and 100% of asking price. The lowest I have sold recently was 87.5% of asking. If priced and marketed correctly, you will get far less of the daft offers.
Peterrayner
12-04-2012, 06:20
One just sold on El Mirador for full asking:
http://tenerifeestateagents.net/el-mirador-penthouse-apartment-for-sale-los-cristianos/
Penthouse unit, one of the best positions on the complex and very nicely furnished.
I listed another on Dinastia recently for 131,000€
http://tenerifeestateagents.net/2-bed-apartment-for-sale-dinastia-los-cristianos/
One of the bigger one beds converted to a 2 bed. In a so-so position with a covered terrace - no interest so far.
I expect prices to come down quite a lot on both complexes unless people STILL dont know about the rental situation (and agents STILL are not telling them....) If you were going to buy on one of those you want to hang on for a real bargain, may take some time but you will get one. Owners are still trying to "escape" at a higher price before everyone realises the true values of some of these apartments. The best ones will still command a premium price (as that first one did) but the others that are nothing special will be going for closer to 110,000€ - 120,000€ in the future.
I dont think prices will fall through the floor as many owners will have a large mortgage to pay off (may even have some in negative equity on there soon.) Plus there is constant demand for good quality properties in this area. Much of this is from people who will use them for 3 to 6 months per year themselves and maybe let friends and family use them at other times but will not be interested in commercial letting due to having all of their own personal effects in there and it being their "home from home." I get plenty of clients like this.
That one sold last month completion mid April. Good level of interest and regular viewings.
Steady sales still on going for all sorts of reasons.
My immediate neighbours now divorced have just sold and complete 26th April on an original large 2 bed.
The previous one was an investor who had hung on to 4 apartments bought off plan 2005.
Considering the crappy build quality, the fact that you can't legally let them on short lets without all the correct paperwork (very difficult to obtain) and your long term letting agent has now been forced to be an unpaid tax collector, unless your going to reside in it not much at all....€25k is a generous price for a concrete tube!
That one sold last month completion mid April. Good level of interest and regular viewings.
Steady sales still on going for all sorts of reasons.
My immediate neighbours now divorced have just sold and complete 26th April on an original large 2 bed.
The previous one was an investor who had hung on to 4 apartments bought off plan 2005.
Another one sold last month but that one is still for sale - just checked. I have 2 on there, the other for a slightly higher price.
Do you know what they got for the 2 bed Peter?
Don't give me that. We made an appointment on my trip in January and you didn't show and later added some feeble excuse for being unable to contact me. I only use a mobile in Tenerife, so I see I am easy to contact.
In March we didn't contact anyone as we decided to have a holiday! The market is pretty dead as we still have at least 2 unsold apartments on our site. As I said to you we have wavered about selling. Maybe we fail in self-marketing too. We have the option to return to more traditional selling.
I spoke to you a few months ago and advised you on price. You said you would phone in March when you were over but I never heard from you.
Self marketing? Good luck with it, many have tried, 99% fail. Owners simply cannot compete with agents on marketing nor do they usually have any sort of realistic idea on how to price.
Added after 2 minutes:
There's some other objective? Do tell....
I hope you get "as much as possible" from your "self-marketing"
!
Don't give me that. We made an appointment on my trip in January and you didn't show and later added some feeble excuse for being unable to contact me. I only use a mobile in Tenerife, so I see I am easy to contact.
In March we didn't contact anyone as we decided to have a holiday! The market is pretty dead as we still have at least 2 unsold apartments on our site. As I said to you we have wavered about selling. Maybe we fail in self-marketing too. We have the option to return to more traditional selling.
Okay I´ll just set the record straight here as you talking utter garbage:
You gave me dates and said "I'm at the apartment, call in anytime"
I got a hold of you at the end of that week. I had tried calling a couple of times earlier but there was no connection or answer.
When I did speak to you you then told me that you would contact me in March instead and that you wouldn't bother with listing it this time which was fine with me. You then didnt call - which again was fine with me - list it, don't list it - whatever....
There was no "feeble excuse" of any kind and to say I simply did not turn up - you´re talking out of your backside!
Looking back on one of your earlier posts:
we have not yet found an agent with who we 'connect'.
I fully understand why... Good luck with your "self-marketing...." :crylaughing:
YOUNG GOLFER
12-04-2012, 21:29
Some people think they know better than agents here ...all I can say is good luck with that attitude! .....market it yourself and please come back and tell us all how well you did.... or better still contact the agent who sold to you .
Sorry to come across a little rude but some people are stuck up their own:bootyshake:
delderek
12-04-2012, 22:10
Not sure why the "Self Marketing" should create a reason for criticism. I sold my place without any agent, it took a whole 2 days.
Not sure why the "Self Marketing" should create a reason for criticism. I sold my place without any agent, it took a whole 2 days.
Maybe you can connect up with Balcony and let him in on your method ;) He can then come back on here on Saturday and let us all know how much he got for it :)
delderek
12-04-2012, 22:20
Maybe you can connect up with Balcony and let him in on your method ;) He can then come back on here on Saturday and let us all know how much he got for it :)
Actually had two genuine enquiries from this and another forum, but had already sold.
jogger321
12-04-2012, 22:30
Maybe you can connect up with Balcony and let him in on your method ;) He can then come back on here on Saturday and let us all know how much he got for it :)
Del's method was simple. He owned a property on one of the nicest tourist complexes in the south in terms of architecture and also is maintained properly. The apartment from the pictures looked good and it also was in a decent location within the complex. It was also fairly priced..not cheap as in bargain to try and sell on to make money but a fair price as a keeper. IMHO you don't need an estate agent to shift something with those credentials.. Sadly I never got really close to buying it as it was sold before I could get to see it.
Incidentally nobody has picked up on my earlier post concerning "Rightmove".. Certainly in the UK its getting to the stage where thats the main place to place a property for visibility as opposed local press. There are ways of getting a UK property listed for around £400 there but i'm yet to work out how to do this for a Tenerife property.
Sorry but self marketing is easy what puts people off is the fact that most people don't buy and sell property very often
If they did most would do it themselves all it takes is a little research regarding price etc which is easy if you are selling a run of the mill type appartment on a complex
One off properties can be slightly more difficult but are still possible
and remember you have what you would be paying an agent to be slightly more flexible
Sorry but self marketing is easy what puts people off is the fact that most people don't buy and sell property very often
If they did most would do it themselves all it takes is a little research regarding price etc which is easy if you are selling a run of the mill type appartment on a complex
One off properties can be slightly more difficult but are still possible
and remember you have what you would be paying an agent to be slightly more flexible
The problem you have here is that your model is "one to many". From a sellers perspective that's fine. However, and heres the real crux of the matter, buyers use a many to one model. Ie.. a buyer wants to view more than 1 property.
The best way to view more than 1 property is using a well informed agent that knows the market.
I dont want to offend anyone here but its a genuine question that i would like an answer to please, why do estate agents charge so much commission here in Tenerife when in England its between 1 and 1.1/2 percent of the price of the property, is there more work to do here ?? I would really like to know the true reason for this please.
Theres lots of other threads on this already. Use the search facility, have a read through and then if you still aren't sure you can post this query on the appropriate thread.
Theres lots of other threads on this already. Use the search facility, have a read through and then if you still aren't sure you can post this query on the appropriate thread.
You'd have been better off not answering at all rather than posting that CIM.
If dede wants to discuss commission - there are plenty of threads which already do so - this thread is about prices of two complexes in particular in Los Cristianos - nothing to do with commission.
delderek
13-04-2012, 11:59
The properties I sell generally go for between 90% and 100% of asking price. The lowest I have sold recently was 87.5% of asking. If priced and marketed correctly, you will get far less of the daft offers.
You must have some dream buyers, to offer 100% of asking price. I would never ever do this. 90% possibly, but would any seller really expect 100%?
jogger321
13-04-2012, 12:23
The problem you have here is that your model is "one to many". From a sellers perspective that's fine. However, and heres the real crux of the matter, buyers use a many to one model. Ie.. a buyer wants to view more than 1 property.
The best way to view more than 1 property is using a well informed agent that knows the market.
Or look on "Rightmove"
It's so nice to have a little exchange of thoughts now and then. It does tend to identify certain services providers that are best left untested.
My original point was that a lot of agents' windows listed 1-bed properties at prices of €100K++. I would - naturally enough - love to achieve some of these 'asking prices', but in the real world I might have to be lucky. Most of the agents we walked into seemed unenthusiastic about properties on their books, so we did not venture to going further. But the prices listed were the prices the agents' had formulated and if they get between 90 and 100% of those prices then good luck to them. I would be amazed and hoplessly delighted....but wait...netto!!
Talking on our complex and Dinistia does seem to sell well. Not sure about Mirador.
As for 'self marketing'...seems to have touched a nerve and I wonder why does that seem an issue?
Yes, a registered estate agent usually has a shop front and that has some advantage. They also have some advantage on the internet as they often share advertising.
But then I can open a website in 5 minutes, can push myself up the rankings (or use someone to do it for me). I can advertise on various available websites. I can also buy lists tailored to some of my requirements and use existing ones I have. I can use Ebay. I can use Facebook (free and paid) and Twitter (if I get the urge to) and some publications in the UK and Tenerife. I can put a for sale board on my balcony - either locally bought at a stationers, or I can have a nice one printed by Vistaprint. Sure some of these things cost money - an agent doesn't?
The advantages of self-marketing are not great and wonderful. The advantage for me is that once of the mind to sell I can be doing something towards that goal. If things don't work then I can go on to an agent. Right now things are quiet and the last thing I want is just to be another piece of paper in an agents file.
Doing it myself means the buyer and me would both know the price agreed. We can directly resolve questions.
Personally, I'd favour using an agent, but getting the right agent is whole new ballgame. Thank goodness for TTF!
You must have some dream buyers, to offer 100% of asking price. I would never ever do this. 90% possibly, but would any seller really expect 100%?
Well if you would "never ever" then essentially you are saying you would rather offer 90,000€ for a property priced at 100,000€ and hope your offer is accepted than simply agree to purchase the property if it was priced at 90,000€ (non-negotiable) to begin with. That is after all what a lot of people end up doing "thinking" they have been ever so good at negotiating....
I prefer to get my prices down to realistic levels to begin with. This encourages viewings and sales rather than adding money onto the price so the owner can then take an offer whilst inadvertently pricing the property too high and losing potential buyers.
I sold some properties yesterday at 96.5% of the asking price. They are getting a very good deal on them so what does it matter what % of the asking price you are paying if the price is very good?
With some distressed sales, you are simply pricing to clear the debt and there is nothing in the price to negotiate. the choice for the seller and agent is add x% so someone can think they have "negotiated" or just list it at the lowest possible price and get it sold - I do the latter....
Added after 20 minutes:
It does tend to identify certain services providers that are best left untested.
I could say the same about sellers....
If people want to try and self market their properties then best of luck to them but I think I do most of the things on your list that are worthwhile doing anyways. And I will be doing most of them a lot more effectively than an individual can.
There is no "nerve" to touch. Owners trying to sell direct represent a tiny fraction of the market and most of them will never even come close to finding a buyer. There are websites here that advertise "direct to owner" etc and the latest incarnation along those lines certainly looks a lot better than the previous ones but is it effective? Well of three properties listed on there that I know have sold, every one of them was sold by estate agents who simply contacted the owner, added their commission and marketed them. The agents were so much more effective that they still managed to outsell the direct o owner website when they were listing the same properties at higher prices!! This tells me the marketing advantage the top agents have more than compensates for the additional cost.
I dont mean to nit pick but a few of the things you mention are not as simple as you seem to think:
But then I can open a website in 5 minutes, can push myself up the rankings (or use someone to do it for me).
Why not go and get a quote from an SEO professional on how much it would cost to compete for some of the major search terms - "Tenerife property" "Tenerife Estate Agents" "Property for sale in Tenerife" etc. Lots of agencies have been trying to get onto the front page of Google for years and spent a fortune doing so.
I can also buy lists tailored to some of my requirements and use existing ones I have
This is called spamming and buying lists stopped being popular around 10 years ago. It is also not effective and borderline abusive.
Doing it myself means the buyer and me would both know the price agreed. We can directly resolve questions.
Why would this be any different with a reputable agent? The price would be stipulated on the contract which you would both be signing. A full breakdown of all associated costs would be presented to both buyer and seller at notary and the money would be counted and divided up to cover all costs in front of both buyer and seller.
The for sale board might work but you will find it is mainly estate agents who will be calling you because they have clients interested in that area. Or nosey owners who want to know why you are selling and for how much.
You simply cannot compete with a good agent when it comes to marketing....
After all that though I do not wish to dissuade you and would be interested in the results of your marketing efforts so please report back on how you get on. Best of luck with it.
Theres lots of other threads on this already. Use the search facility, have a read through and then if you still aren't sure you can post this query on the appropriate thread.
Well its pleasure to see a very helpful estate agent online..not!!! How rude....
Well its pleasure to see a very helpful estate agent online..not!!! How rude....
It has been done to death on other threads. Go and look. Nothing "rude" about it.
It has been done to death on other threads. Go and look. Nothing "rude" about it.
Well i find your response very rude!! and i know that i wouldnt do business with anyone with an attitude like yours so lets hope there are no potential buyers looking in.:whistle:
Well i find your response very rude!! and i know that i wouldnt do business with anyone with an attitude like yours so lets hope there are no potential buyers looking in.:whistle:
I aint gonna be losing any sleep over it pet... thanks for chiming in!
Thanks Dede, I agree with you.
For CIM: This is perhaps not the right thread, but I have no doubt an agent would have advantages over me selling myself - that WASN'T the issue. My first post was an obvious statement of my observations of agent's windowns in Tenerife. My latter post on this thread was merely outlining some of the many options open to me and anyone else wishing to try marketing their apartments for themselves. And who said anything about spamming? I guess you'd use the term 'direct marketing' (by mail)? Oh wow, that's what my lists are too!
More to the point, which was not in fact the point of the exercise, but as I said B4 the way comments are made will often determine who you would use, or not use to provide services. We're all human and consequently make errors, but in my boots, as a consumer, I always have to ask myself - do I trust that person? Do I want to hand them €5K+ for what they do? Are they worth it? Do I trust them with the keys to my apartment?
Nuff said.
It sounds like you have never had any intention of using an agent at all - I have zero problem with that. Market it how you like. But why bother making enquiries with agents if you have such objections to ever using them??
As much as you think you are choosing the agent - the agent at the same time is deciding if he wants you as a seller. As many have posted on here, sometimes agents seem disinterested - there are often very good reasons for that.
There are certain types of sellers (and buyers) that I have no interest in representing and I have very good reasons for not doing so. I dont list their properties and I dont want their business. Two sides of the coin....
I think a lot of sellers fail to realize that.
willowlily
13-04-2012, 15:44
Well if you would "never ever" then essentially you are saying you would rather offer 90,000€ for a property priced at 100,000€ and hope your offer is accepted than simply agree to purchase the property if it was priced at 90,000€ (non-negotiable) to begin with. That is after all what a lot of people end up doing "thinking" they have been ever so good at negotiating....
I prefer to get my prices down to realistic levels to begin with. This encourages viewings and sales rather than adding money onto the price so the owner can then take an offer whilst inadvertently pricing the property too high and losing potential buyers.
I sold some properties yesterday at 96.5% of the asking price. They are getting a very good deal on them so what does it matter what % of the asking price you are paying if the price is very good?
With some distressed sales, you are simply pricing to clear the debt and there is nothing in the price to negotiate. the choice for the seller and agent is add x% so someone can think they have "negotiated" or just list it at the lowest possible price and get it sold - I do the latter....
Added after 20 minutes:
I could say the same about sellers....
If people want to try and self market their properties then best of luck to them but I think I do most of the things on your list that are worthwhile doing anyways. And I will be doing most of them a lot more effectively than an individual can.
There is no "nerve" to touch. Owners trying to sell direct represent a tiny fraction of the market and most of them will never even come close to finding a buyer. There are websites here that advertise "direct to owner" etc and the latest incarnation along those lines certainly looks a lot better than the previous ones but is it effective? Well of three properties listed on there that I know have sold, every one of them was sold by estate agents who simply contacted the owner, added their commission and marketed them. The agents were so much more effective that they still managed to outsell the direct o owner website when they were listing the same properties at higher prices!! This tells me the marketing advantage the top agents have more than compensates for the additional cost.
I dont mean to nit pick but a few of the things you mention are not as simple as you seem to think:
Why not go and get a quote from an SEO professional on how much it would cost to compete for some of the major search terms - "Tenerife property" "Tenerife Estate Agents" "Property for sale in Tenerife" etc. Lots of agencies have been trying to get onto the front page of Google for years and spent a fortune doing so.
This is called spamming and buying lists stopped being popular around 10 years ago. It is also not effective and borderline abusive.
Why would this be any different with a reputable agent? The price would be stipulated on the contract which you would both be signing. A full breakdown of all associated costs would be presented to both buyer and seller at notary and the money would be counted and divided up to cover all costs in front of both buyer and seller.
The for sale board might work but you will find it is mainly estate agents who will be calling you because they have clients interested in that area. Or nosey owners who want to know why you are selling and for how much.
You simply cannot compete with a good agent when it comes to marketing....
After all that though I do not wish to dissuade you and would be interested in the results of your marketing efforts so please report back on how you get on. Best of luck with it.
a good estate agent whether here or in the uk are worth their weight in gold
Added after 3 minutes:
according to a major US report on spain i was watching on bloomberg is that sale price is 30-35 belowe asking
and that will go up to about 50 percent when the goverment forces banks to take back properties
i think this report pertains to spanish mainland, tenerife due to its superior climate will not suffer as much
The whole point of making contact with agents and enquiring about those agents is to try to find one I think will work for me and sell my place. Located in the UK I want to be sure about the agent.
However, I also admit I waver (well, my wife wavers on my behalf) on finally placing the apartment on the market. Left to me it would be on the market.
TenerifePool
13-04-2012, 15:56
i think this report pertains to spanish mainland, tenerife due to its superior climate will not suffer as much
For the tourist market you're possibly right.
The resedential market will and is suffering more here than in mainland Spain because of much higher unemployment rates.
YOUNG GOLFER
13-04-2012, 16:34
Well i find your response very rude!! and i know that i wouldnt do business with anyone with an attitude like yours so lets hope there are no potential buyers looking in.:whistle:
How can you come on here and call someone like CIM rude your bang out of order..... this is your post........
(I dont want to offend anyone here but its a genuine question that i would like an answer to please, why do estate agents charge so much commission here in Tenerife when in England its between 1 and 1.1/2 percent of the price of the property, is there more work to do here ?? I would really like to know the true reason for this please.)
You started this post to stir things up i and others can see that.
I know CIM better than most on here and rude i don't think so i just think he says it how he sees it...and some owners and members won't like what they hear and that's tough... if people think they know better then great i wish them all the best.
CIM over the years has given great advice and helped many a forum member in the pass with either advice on Mortgages or advice on property.
Maybe he might not be everyone's cup of tea but he knows his business and he is 100% honest.
Maybe some members will look at his post and this one from me and will never buy from us that's up to them or you but telling the truth and standing up for yourself is not a crime....in fact i find people would rather be told the truth than a load of bull.....
And come on let's be honest no one really likes a Estate Agent because they think we all make 1000's and 1000s well if you think 5% is a lot for nothing then please feel free to open a office get a good website and work 10,11 12hours a day.
Wish you luck.rolleyes2:
Added after 7 minutes:
You must have some dream buyers, to offer 100% of asking price. I would never ever do this. 90% possibly, but would any seller really expect 100%?
If it's priced right then yes i have seen buyers pay the full asking price on property here.....in the UK this happens too when the price is right and the buyer really knows what he/she are looking for.
delderek
13-04-2012, 17:25
How can you come on here and call someone like CIM rude your bang out of order..... this is your post........
(I dont want to offend anyone here but its a genuine question that i would like an answer to please, why do estate agents charge so much commission here in Tenerife when in England its between 1 and 1.1/2 percent of the price of the property, is there more work to do here ?? I would really like to know the true reason for this please.)
You started this post to stir things up i and others can see that.
I know CIM better than most on here and rude i don't think so i just think he says it how he sees it...and some owners and members won't like what they hear and that's tough... if people think they know better then great i wish them all the best.
CIM over the years has given great advice and helped many a forum member in the pass with either advice on Mortgages or advice on property.
Maybe he might not be everyone's cup of tea but he knows his business and he is 100% honest.
Maybe some members will look at his post and this one from me and will never buy from us that's up to them or you but telling the truth and standing up for yourself is not a crime....in fact i find people would rather be told the truth than a load of bull.....
And come on let's be honest no one really likes a Estate Agent because they think we all make 1000's and 1000s well if you think 5% is a lot for nothing then please feel free to open a office get a good website and work 10,11 12hours a day.
Wish you luck.rolleyes2:
Added after 7 minutes:
If it's priced right then yes i have seen buyers pay the full asking price on property here.....in the UK this happens too when the price is right and the buyer really knows what he/she are looking for.
Well I personally have never met a seller that wouldn't do a deal, or even asking the agent to half their comission, to seal a deal, but hey ho, we all have different business experiences, but I do feel a little sorry for you guys when the Spanish banks have to improve there liquidity, by getting rid of their massive property portfolio. It is not going to the Brit estate agents.
Well I personally have never met a seller that wouldn't do a deal
Well it is no surprise as your experience in the property sector in Tenerife is nowhere near as vast as mine.
even asking the agent to half their commission
I agree with sellers what I charge when I take the property on. Why would I take less once I have done what they have agreed to pay me for? Buyers and sellers will get nowhere asking this of any respectable agent. If sellers dont want to pay - dont list with me. As for the buyers, they are not in a position to negotiate commission - they are the buyer, not the seller.
I do feel a little sorry for you guys when the Spanish banks have to improve there liquidity, by getting rid of their massive property portfolio. It is not going to the Brit estate agents.
Feel sorry for the people who have lost their homes.... Don't feel sorry for me though. I am a colaborador with lots of banks here. I have sold and continue to sell plenty of repossessed property. But I treat them the same as sellers. If their prices are naff I do not list their property.
YOUNG GOLFER
13-04-2012, 17:57
Well I personally have never met a seller that wouldn't do a deal, or even asking the agent to half their comission, to seal a deal, but hey ho, we all have different business experiences, but I do feel a little sorry for you guys when the Spanish banks have to improve there liquidity, by getting rid of their massive property portfolio. It is not going to the Brit estate agents.
Agents commission should be agreed in the first meeting don't think it would be fair to drop that bomb shell later down the line for the agent to cut his fee in half do you deldreck? ......as for feeling sorry for us think we all know you don't really mate:wink2:
Think you night be a tad out of touch with how things work these days.:)
delderek
13-04-2012, 18:39
Agents commission should be agreed in the first meeting don't think it would be fair to drop that bomb shell later down the line for the agent to cut his fee in half do you deldreck? ......as for feeling sorry for us think we all know you don't really mate:wink2:
Think you night be a tad out of touch with how things work these days.:)
But its the seller that pays your comission. So if the price was non negotiable, and I said I will buy if you reduce the price by 2%, are you saying you wouldn't reduce your fee, to secure the deal?
I think you may be in a Tenerife Bubble, and hope you never try to deal with our Asian or American brothers or indeed 90% of the world, if you don't negotiate you will sell zilch, you may be the most honest guy on the planet, but unless you "deal" they will walk away. And many Brits are now using the same strategy. To my knowledge you have no Asians running estate agents yet, but boy, are you in for a shock if they do.
So if the price was non negotiable, and I said I will buy if you reduce the price by 2%, are you saying you wouldn't reduce your fee, to secure the deal?
Absolutely, 100%. I´ll sell it to someone else and make 67% more Gross from that sale than I would make selling it to you.
Let them walk away. I dont want buyers like that - other agents are welcome to them if they want to give away 40% of their income.
delderek
13-04-2012, 18:49
Absolutely, 100%. I´ll sell it to someone else and make 67% more Gross from that sale than I would make selling it to you.
Let them walk away. I dont want buyers like that - other agents are welcome to them if they want to give away 40% of their income.
Mmm methinks you haven't been through too many recessions in your life.
golf birdie
13-04-2012, 18:54
What's a realistic price to pay for a 1 bed on Dinastia or El Mirador, Tenerife?:confused:
Mmm methinks you haven't been through too many recessions in your life.
Hmm, so you think reducing what I make per sale by 40% is a step in the right direction because there´s a recession??!
Most of my time in Tenerife has been during this crisis. I arrived here in 2006 - crisis kicked in in 2008 and I have expanded the business throughout it. Last year was my best ever and I have had a very good start to this year.
I certainly dont want nor need to to deal with buyers who for whatever reason think they are entitled to 40% of my earnings!
What's a realistic price to pay for a 1 bed on Dinastia or El Mirador, Tenerife?:confused:
Well whatever it is Del will want 2% off or he´ll walk away!
Not in the least suprised to see 2 property agents defending their territory not that they are making a very good job of it
4/5 percent commission is indefensable
I've yet to see what more they have to do than in the UK where commission ranges from 0.75% to 1.5% and even then can be negotiable
YOUNG GOLFER
13-04-2012, 19:11
But its the seller that pays your comission. So if the price was non negotiable, and I said I will buy if you reduce the price by 2%, are you saying you wouldn't reduce your fee, to secure the deal?
I think you may be in a Tenerife Bubble, and hope you never try to deal with our Asian or American brothers or indeed 90% of the world, if you don't negotiate you will sell zilch, you may be the most honest guy on the planet, but unless you "deal" they will walk away. And many Brits are now using the same strategy. To my knowledge you have no Asians running estate agents yet, but boy, are you in for a shock if they do.
So if the price was non negotiable, and I said I will buy if you reduce the price by 2%, are you saying you wouldn't reduce your fee, to secure the deal?[/B]
Well if i put on a website or in my window that it's non negotiable then that's what it means non negotiable this property would be a very good deal in the first place and i am sure it would sell without having to reduce my commission.
Can't understand why you would ask.
I agree with each owner what is the best way to sell their property and by putting up non negotiable on some properties will stop time wasters or people like yourself being cheeky....... if you want it great if they don't fine.
But again delderek i would NOT be willing to half my commission for you or anyone.
I think you may be in a Tenerife Bubble
Well let's just put it this way i am very happy with how my business is going right now and if i can get through these hard times then i will be over the moon....and let me just add it's not luck that makes it work it's hard work so must be doing something right.
Maybe i am in a bubble but it won't burst listening to your advice on property sales here in Tenerife deldereck.:sleeping:
Not in the least suprised to see 2 property agents defending their territory not that they are making a very good job of it
4/5 percent commission is indefensable
I've yet to see what more they have to do than in the UK where commission ranges from 0.75% to 1.5% and even then can be negotiable
For what I have read so far they seem to be digging a hole for themselves for both prospective sellers and buyers.
delderek
13-04-2012, 19:21
So if the price was non negotiable, and I said I will buy if you reduce the price by 2%, are you saying you wouldn't reduce your fee, to secure the deal?[/B]
Well if i put on a website or in my window that it's non negotiable then that's what it means non negotiable this property would be a very good deal in the first place and i am sure it would sell without having to reduce my commission.
Can't understand why you would ask.
I agree with each owner what is the best way to sell their property and by putting up non negotiable on some properties will stop time wasters or people like yourself being cheeky....... if you want it great if they don't fine.
But again delderek i would NOT be willing to half my commission for you or anyone.
I think you may be in a Tenerife Bubble
Well let's just put it this way i am very happy with how my business is going right now and if i can get through these hard times then i will be over the moon....and let me just add it's not luck that makes it work it's hard work so must be doing something right.
Maybe i am in a bubble but it won't burst listening to your advice on property sales here in Tenerife deldereck.:sleeping:
Oh dear I can see tears in the future, especially when I open my estate agency with an Asian manager, that will give a free video camera for just enquiring.:jumping:
golf birdie
13-04-2012, 19:26
when the last boom happened in the UK a estate agent friend of mine reduced his commission from 1.5% to 1%. He said whilst houses had doubled in price his work had not so he was happy to take less % and he still was making more. Never happened here but then if you can get it why not?
Not in the least suprised to see 2 property agents defending their territory not that they are making a very good job of it. 4/5 percent commission is indefensable
In your opinion Kath... If you dont like honesty and directness there are plenty other agents around in Tenerife - go and tell them your thoughts on what they make.
I am more than happy to put off any potential buyers who think the commission I charge is open for them to help themselves to - dont come to me, because it wont happen.
I am more than happy to put off any potential sellers who think the commission I charge is negotiable after they have agreed it and I have then sold their property - it isnt! If you don´t like it I honestly dont care - go somewhere else or do it direct or whatever.
So far as "diggin a hole" again - these are my personal opinions, I do not rely on this forum for business - if I get any great, if not - I honestly dont care!
Some of your replies leave me thinking that you believe I am writing these things to drum up business - I´m not. I enjoy the discussion. Nothing I say on here is going to impact in any great way, shape or form my bottom line so "digging themselves into a hole" and other comments about "potential buyers reading this" - I couldn't less!! - please get that into your heads when you reply!
I´m off for a Mexican - enjoy yourselves this Friday evening :)
Not in the least suprised to see 2 property agents defending their territory not that they are making a very good job of it
4/5 percent commission is indefensable
I've yet to see what more they have to do than in the UK where commission ranges from 0.75% to 1.5% and even then can be negotiable
Get an idea from the UK by all means but a major downfall would be to base everything on "it's like this in the UK so it should be elsewhere"
In the UK am i right in saying the 1% would be for the sole estate agent ?
Here 4 - 5% commision could well be divided between 2,3 or more agents all having their part.
At the end of the day it's how it is across the board.
I've never said that you should alter commission after it has been agreed
that would be a nono in my book
But if I come to you with a sure thing either buying or selling and say are you willing to agree a rate of commission other than your usual would you agree or not
I've used a chartered surveyor for many deals over the years and commission has always been negotiable and trust has grown to the extent that commission is now never discussed as I know that he will do a good job and charge me a reasonable fee based on the amount of work he has to do
YOUNG GOLFER
13-04-2012, 19:51
Oh dear I can see tears in the future, especially when I open my estate agency with an Asian manager, that will give a free video camera for just enquiring.:jumping:
Great news good luck with that:idea: :laugh::laugh:.....hope the free camera is free? after all your 2% commission on a 55,000 property should just about cover that:tiphat:.
Have a nice day and thankyou to the person who sent me a email and link on some old members who are looking in from a NOT so well know forum looks like they have double their post today.:crylaughing::crylaughing::crylaughing:
Right a nice rum and coke calls catch you later:)
Get an idea from the UK by all means but a major downfall would be to base everything on "it's like this in the UK so it should be elsewhere"
In the UK am i right in saying the 1% would be for the sole estate agent ?
Here 4 - 5% commision could well be divided between 2,3 or more agents all having their part.
At the end of the day it's how it is across the board.
No in the Uk 1% could be split that would be up to the agents
So in the UK more than 1 agent can sell your property is that normal practice ?
1 percent commission seems frightfully low, how do those UK estate agents put food on the table ?
delderek
13-04-2012, 20:38
So in the UK more than 1 agent can sell your property is that normal practice ?
1 percent commission seems frightfully low, how do those UK estate agents put food on the table ?
1% would normally be for sole agents rights, 1.75% would be the average for listing in multi agencies. Not sure if that is then shared or not.
karinagal
13-04-2012, 20:56
Perhaps a mod should consider removing the posts regarding estate agents and commission to another thread? In my opinion, they do not have any direct relevance to the original post?
The undisputed Queen of de-nial
Sundowner
13-04-2012, 22:52
in the U.K. 2.5 percvent would be more like it.......you can get it lower if you can bargain hard.........but then it depends what you are selling...........
bloody hell guy's (c.i.m. and young golfer) you have taken a bit of a battering on this thread lol, but i must say you have batted well, and i must say after meeting you both on my travels to tenerife you do seem to both be very trustworthy and genuine blokes, and you have made a decent living on the island without pissing anyone off ha ha:D if i was going to buy anything i would deffo come to you two:cheeky: but what i want to know is what is a distressed property:dontknow:
YOUNG GOLFER
13-04-2012, 23:41
No in the Uk 1% could be split that would be up to the agents
So Kathml you seem to know about property...would you be willing to share 1% commission with another agent if the property was sold for 100,000 which would be 500 each.
Added after 6 minutes:
bloody hell guy's (c.i.m. and young golfer) you have taken a bit of a battering on this thread lol, but i must say you have batted well, and i must say after meeting you both on my travels to tenerife you do seem to both be very trustworthy and genuine blokes, and you have made a decent living on the island without pissing anyone off ha ha:D if i was going to buy anything i would deffo come to you two:cheeky: but what i want to know is what is a distressed property:dontknow:
Hi bud you have met us and others too and you know us in the flesh.....but on any forum you will get a few plumbs that think buying 1 property in Tenerife makes them a expert. lol
TenerifePool
13-04-2012, 23:59
Surely when considering the question of commission we need to think about the actual work that the agent is doing.
If an agent sticks a photo up in his window and makes a sale the next day then 1% would seem excessive. But for agents today who have to market the property, educate both owners and sellers, trudge around with potential clients who end up as timewasters assist with NIE's and paperwork a sale may be the result of a great deal of work and expense and 1 or 2 percent would be a pittance and not reflect the work that the agent has done.
Comments like "they do it for 1% in the UK" are unhelpful because, we aren't in the UK! Completely different system!
So Kathml you seem to know about property...would you be willing to share 1% commission with another agent if the property was sold for 100,000 which would be 500 each.
Added after 6 minutes:
Hi bud you have met us and others too and you know us in the flesh.....but on any forum you will get a few plumbs that think buying 1 property in Tenerife makes them a expert. loli don't think people know how much work has to go in to buying property in spain/tenerife it just is not as simple as in the uk, i brought in bulgaria in 2005 and i am still having problems, i have had to go to the embasy in london to re-register my non existant company just to keep my land:dontknow:
Hi Marbro, nice to hear from you!
Funny how most of the loud voices are from those who have no intention of buying or selling here and even though this thread is about prices on two specific complexes, they continuously turn it to "commission" - it is what it is and a few whingers on here ain´t gonna change that.
Why they constantly refer to the UK I dont know. We are not in the UK and nothing is comparable with the UK. I notice no-one compares it to the US where commission is between 5% and 7% and this is on a sole agency basis!
Angusjim
14-04-2012, 07:47
Not in the least suprised to see 2 property agents defending their territory not that they are making a very good job of it
4/5 percent commission is indefensable
I've yet to see what more they have to do than in the UK where commission ranges from 0.75% to 1.5% and even then can be negotiable
At least YG & CIM are upfront and come on here and put their points across unlike the numerous other agents who are come on here and never tell anyone they are agents and never enter into any debates like this, they prefer to "lurk" and PM people offering their services. What you see is what you get with YG & CIM, they state their terms at the start if you are not happy don't use them. I would have thought their open way of doing business is refreshing given what has been the norm in Tenerife over the years with agents ripping off both sellers & buyers.
As much as possible!
Many 1 bed apartments are still hovering in agents windows at100K+. Agents themselves seem uninterested unless you're giving it away.
We're near to self-marketing ours, as we have not yet found an agent with who we 'connect'.
So, you want an agent to give away their services but you don't want to give away yours, in this case a concrete tube or 4 block walls depending how you choose to describe it.
The question asked was 'What is a realistic price to pay?' not 'How much should I expect to be charged to sell?'
If you want something you will pay the price asked, it's not a market in Mumbai. Similarly, if someone gives a good service for their price that is a good thing isn't it?
If you don't agree with agent's fees don't use them and don't quote UK operating practices. We drive on the left in the UK, see how far you get driving on the left in PDLA this afternoon!
In your opinion Kath... If you dont like honesty and directness there are plenty other agents around in Tenerife - go and tell them your thoughts on what they make.
I am more than happy to put off any potential buyers who think the commission I charge is open for them to help themselves to - dont come to me, because it wont happen.
I am more than happy to put off any potential sellers who think the commission I charge is negotiable after they have agreed it and I have then sold their property - it isnt! If you don´t like it I honestly dont care - go somewhere else or do it direct or whatever.
So far as "diggin a hole" again - these are my personal opinions, I do not rely on this forum for business - if I get any great, if not - I honestly dont care!
Some of your replies leave me thinking that you believe I am writing these things to drum up business - I´m not. I enjoy the discussion. Nothing I say on here is going to impact in any great way, shape or form my bottom line so "digging themselves into a hole" and other comments about "potential buyers reading this" - I couldn't less!! - please get that into your heads when you reply!
I´m off for a Mexican - enjoy yourselves this Friday evening :)
How was the Mexican bud?
Angusjim
14-04-2012, 09:47
How was the Mexican bud?
He walked out could not agree discount for the meal he could not believe that in the middle of a recession the menu prices were not up for negotiation. That restaurant will not survive it will probably be taken over by Asians and they will be handing out cameras with all meals :spin::wave:
How was the Mexican bud?
Christ just thinking CIM you go for a Mexican meal buy a cockerto (or whatever they call them) and moving to a new house this weekend business must be good, save some of your money to buy me a drink when I arrive a week on Monday for 5 weeks.
Here's an interesting point.....
If Every viewing turned into a buyer I am sure the fees would be a lot lower. However, and don't be shocked by this, most viewings do not turn in to a sale. So these guys traipse around apartments and villas all day long. They may have to go on 100 viewings before getting a sale. Each one of those viewings takes time. As we all know (well those of us that reside on planet earth anyway) time is money. Average out all those viewings to get one sale and 5% ain't that steep.
Like the guys who do this stuff have said already, if you don't want to pay the piper don't use them. It really is that easy. You pays your money and you takes your choice.
Guys
Is there any way we could just call this a draw?.....
Agents 10 - Agent Bashers 10
Christ just thinking CIM you go for a Mexican meal buy a cockerto (or whatever they call them) and moving to a new house this weekend business must be good, save some of your money to buy me a drink when I arrive a week on Monday for 5 weeks.
I'm sure we can arrange something Chris. I hope you like Champagne - its all I drink these days, what with the vast amounts of easy money coming in... :) I even have it on my cereal!
How's the new studio coming along?
Angusjim
14-04-2012, 10:39
I'm sure we can arrange something Chris. I hope you like Champagne - its all I drink these days, what with the vast amounts of easy money coming in... :) I even have it on my cereal!
How's the new studio coming along?
So am I wasting my time bringing the whisky with me ?
TenerifePool
14-04-2012, 10:43
Guys
Is there any way we could just call this a draw?.....
Agents 10 - Agent Bashers 10
Or Agents 5 - Successful Sellers 95...
Tom & Sharon
14-04-2012, 11:04
How was the Mexican bud?
He walked out could not agree discount for the meal he could not believe that in the middle of a recession the menu prices were not up for negotiation. That restaurant will not survive it will probably be taken over by Asians and they will be handing out cameras with all meals :spin::wave:
Christ just thinking CIM you go for a Mexican meal buy a cockerto (or whatever they call them) and moving to a new house this weekend business must be good, save some of your money to buy me a drink when I arrive a week on Monday for 5 weeks.
I'm sure we can arrange something Chris. I hope you like Champagne - its all I drink these days, what with the vast amounts of easy money coming in... :) I even have it on my cereal!
How's the new studio coming along?
Well we all went for a lovely Mexican last night while you were all arguing away on here.
What an ostentatious display! CIM throwing his money around, buying everyone in the bar drinks. Champagne was flowing, and he even lit his Cohiba Cuban cigar with a 500€ note at one point! We didn't negotiate on the bill, in fact we paid double just for the hell of it. It made the staff's week, and we'll get really good service next time we go.
I noticed Senora CIM was sporting some new diamonds, and baby CIM had a new pram studded with Swaroski Crystal.
Tom's just treated himself to a new gold Cartier watch (cos he's in oil & gas) but this was overshadowed by CIM's new Patek Philippe. Tom was gutted!
We've not been to his new pad yet, the decorators were still in, but I think there's a bit of gold leaf decoration going on the walls. I hope that bloody cockatoo he's buying doesn't mess it up!
It must have really been a good week in Estate Agent land this week.
I don't know why everybody doesn't do it?.................."Easy Money"
http://www.youtube.com/watch?v=OxLrsn9ZsiQ&feature=related
I'm in oil and gas as well...
... I own a fish and chip shop!
and he even lit his Cohiba Cuban cigar with a 500€ note
Are you sure it wasn't a 500€ cheque :)
Or Agents 5 - Successful Sellers 95...
Does double figures in the 1st quarter count as successful? If so I guess I go in both categories....
I have heard no good arguments from the "bashers" just a lot of bitching and whining about about an industry which they know know far less about than they think....
golf birdie
14-04-2012, 13:20
this is a little like folk who say top footballers get paid too much, they may be right but when you ask the same folk if their son/grandson had the skill to become one of these top players would they tell them to take less pay. Not many say yes:laugh:
"Hello Mr Estate Agent, I am so and so and I have bought and sold a couple of properties here in Tenerife over the years so I consider myself an expert on the subject."
"Good for you sunshine, what can I do for you?"
"Well I have this property here which I wanna sell so I am trying to find an agent I "connect with."
"OK, well we can market it for you if you like, we´re very good at that. We can advise you on pricing and use our vast resources, our websites and our huge database of potential clients we have worked long and hard building up and see if we can find you some potential buyers."
"Are you selling much in this market - are you good at this?"
"Yes, we are selling plenty of properties and having a good year. Last year was also good. We have had plenty of sellers in who we have helped and they have been very happy with the service."
"Sounds Good, what do you charge for this service?"
"We charge 5% of the final sales price - the same as all the other agents here."
"Oh, can you not sell mine for 3%? Its just that even though your current fee structure is perfectly accepted by the majority and the business model works well, for no reason whatsoever, I would like you to drop your fees by 40% for me - thats right just knock off 40% from your standard charge. It´s just that in another country 2,000 miles away they have a completely different real estate industry there and they charge lower fees."
There is yet another country where they charge 7%. So maybe I should put my fees up? Or perhaps I should just keep them at 5% as all of our clients are happy with that and it works well.
"But you don´t understand, I am special... I should get it much cheaper than everyone else. Did I mention I am an expert because I have bought and sold this and that in the past?
There is an agent around the corner who will probably take it on at a lower amount - go and see him. Oh, hang on, no - he closed down last week - seems he wasn't making enough per sale to stay in business. Ah well... So you know our fees if you want us to list it
"I´m just not feeling the "connection...." Maybe I´ll scrawl my number on a sign and hang it off my balcony instead. Do you know where I can buy some cardboard, felt tips and a bit of string?"
"Joke shop round the corner - you´ll like it in there...."
Sorry, I know this is off topic...but hey, the whole thread has gone off topic now, what with commission rates, champagne, big fat cigars etc. Here's my take on it, a bit late, because I had promised myself that I wouldn't be getting involved in the tit for tat argument that was going on, which has taken place on this forum many times before.
I took a property on today and when asked what the commission was I said that it was 5%, and said that it was the same as 95% of the rest of the agents here. When the owner said "that's not what the Spanish charge"...I asked him what he thought they charged and where the agent was that charged less. He could only mention one agent and his answer came as no real surprise, the agent was charging 2.5% and where is he...oh he's closed his office, probably because he couldn't keep his office open on those rates. I confirmed with the owner that my commission was 5% and that was the end of the subject.
Most of you that are arguing against the commission charged are unaware of what goes on for an agent to market the property - go to the property and take photos and details (cost to the agent fuel and time), do viewings - go to collect clients and take them on a day,or more viewing property (costing the agent again, fuel and time), negotiate - buyer and seller might not agree on price (No income for all of the work carried out so far), help with paperwork for seller and buyer (more cost to the agent, fuel in the car, expenses in general) and then completion - again probably collecting the client and taking them to the Notary etc etc (more cost to the agent)...and it doesn't have to end there either, there might be some things that the new owner needs doing that they rely upon the agent to do - more driving about and time used. The point is that the commission could well be split as well between 2 or 3 agents, so charging 2.5% wouldn't work, especially as more than 70% of property sold in Spain are apartments, so lower selling prices, lower commission values and then split between other agents doesn't work.
I know a lot of this has been said already, but wanted to get it into one post, so that all of the people here who, it seems just want to have an argument because they've got nothing more to do with their time, could read it.
One thing that has not been said is..."How much commission does an auction charge for selling anything?" 10-15% would be the going rate. This would probably not be negotiable either - why should it be?, that is their terms. You take your items, if they sell you don't get all of the money it sold for, they take their commission from the sale.
What did they do for their money? Oh yes, the owner brings the item to their showrooms - no immediate cost for the auction room, they might market it - a cost to the aution, they'll open their showrooms for viewings - clients come to them, hold the auction - buyers all come to the showroom again no cost to the auction and then if the item is sold they have to do some paperwork - a lot less than for the sale of a property...that amount of work would seem much less than the average agent does for half or maybe even a third of the money that agents charge at 5%.
I'll wait for the replies to say that they sell things of less value, but my answer will be Yes maybe, unless of course you Southebys and are selling diamonds and paintings and the like. Yes, you're right, they sell many more items in one day, some have low sales prices and some have high sales prices, but never-the-less the commission is still "high" if that's the way you think.
Now I'm not having a go at auctions at all, they charge their going rate and people either use them or they don't based upon what value they think they are going to get from that auction room...take it or leave it, it's the way it should be. If you don't like the price of M&S food, don't go there, use ASDA or Sainsburys who are cheaper, it's much the same argument.
There you go, that's my tuppence worth...oh, plus my 5% commission as well.
If Igo to a major auction house with say £50,000.000 of antiques or pictures no way am I going to pay their rack rates of commission it comes down to a mutual agreement just the same as If I go to a developer and offer to buy 20 appartments the price drops really fast just as when the banks really start to offload repossessions the fees they pay to agents will collapse as well
All things are negotiable
I'm not arguing about the fees.
So, you want an agent to give away their services but you don't want to give away yours, in this case a concrete tube or 4 block walls depending how you choose to describe it.
The question asked was 'What is a realistic price to pay?' not 'How much should I expect to be charged to sell?'
If you want something you will pay the price asked, it's not a market in Mumbai. Similarly, if someone gives a good service for their price that is a good thing isn't it?
If you don't agree with agent's fees don't use them and don't quote UK operating practices. We drive on the left in the UK, see how far you get driving on the left in PDLA this afternoon!
Do I want to hand them €5K+ for what they do?
Nuff said.
I'm not arguing about the fees.
Oh, my mistake then!
Thankyou s1monsg for your very informed explanation of an agents fees, it answers a very simple question that i asked and gives me more understanding, much appreciated. :thanx:
Nice analogy with the auction - they do charge a lot more and the work involved is a lot less - correct. Shame there's no auctioneers on here for the whingers to have a go at...!
Thankyou s1monsg for your very informed explanation of an agents fees, it answers a very simple question that i asked and gives me more understanding, much appreciated. :thanx:
Not sure how to describe this comment dede - is "passive aggressive" the best way or plain old "smarmy"? Bit of both?
I think YG summed you up nicely yesterday.... :)
just as when the banks really start to offload repossessions the fees they pay to agents will collapse as well
All things are negotiable
This is a bit like saying, when the end of the world comes we are all going to be homeless.
hackney58
14-04-2012, 17:26
Well that was a complete waste of my time and I suspect other peoples to. Having read through 10 pages started on the 11th April by jogger321 , the question for those who have forgotten or lost the will to live was “What’s a realistic price to pay for a one bed on Dinastia or EL Mirador, Tenerife?”
This was of interest to me as I have been looking at different properties and with the falling market was not sure what a realistic price was for one bed property.
The question was not difficult; all it needed was for someone individual or agent to give an approximate figure.
E.G. One bed sea view = X number of euros
One bed pool or mountain view =X number of euros.
We are only asking for a ballpark figure from agents or people who have a property, not necessarily for sale but would advise on a price they would want if their property was for sale.
Agents commissions should, if anybody is interested be on another thread.
There that’s me letting off steam but I don’t think I am on my own.
Thanks
"Hello Mr Estate Agent, I am so and so and I have bought and sold a couple of properties here in Tenerife over the years so I consider myself an expert on the subject."
"Good for you sunshine, what can I do for you?"
"Well I have this property here which I wanna sell so I am trying to find an agent I "connect with."
"OK, well we can market it for you if you like, we´re very good at that. We can advise you on pricing and use our vast resources, our websites and our huge database of potential clients we have worked long and hard building up and see if we can find you some potential buyers."
"Are you selling much in this market - are you good at this?"
"Yes, we are selling plenty of properties and having a good year. Last year was also good. We have had plenty of sellers in who we have helped and they have been very happy with the service."
"Sounds Good, what do you charge for this service?"
"We charge 5% of the final sales price - the same as all the other agents here."
"Oh, can you not sell mine for 3%? Its just that even though your current fee structure is perfectly accepted by the majority and the business model works well, for no reason whatsoever, I would like you to drop your fees by 40% for me - thats right just knock off 40% from your standard charge. It´s just that in another country 2,000 miles away they have a completely different real estate industry there and they charge lower fees."
There is yet another country where they charge 7%. So maybe I should put my fees up? Or perhaps I should just keep them at 5% as all of our clients are happy with that and it works well.
"But you don´t understand, I am special... I should get it much cheaper than everyone else. Did I mention I am an expert because I have bought and sold this and that in the past?
There is an agent around the corner who will probably take it on at a lower amount - go and see him. Oh, hang on, no - he closed down last week - seems he wasn't making enough per sale to stay in business. Ah well... So you know our fees if you want us to list it
"I´m just not feeling the "connection...." Maybe I´ll scrawl my number on a sign and hang it off my balcony instead. Do you know where I can buy some cardboard, felt tips and a bit of string?"
"Joke shop round the corner - you´ll like it in there...."
Ha ha! Post of the week!
Well that was a complete waste of my time and I suspect other peoples to. Having read through 10 pages started on the 11th April by jogger321 , the question for those who have forgotten or lost the will to live was “What’s a realistic price to pay for a one bed on Dinastia or EL Mirador, Tenerife?”
This was of interest to me as I have been looking at different properties and with the falling market was not sure what a realistic price was for one bed property.
The question was not difficult; all it needed was for someone individual or agent to give an approximate figure.
E.G. One bed sea view = X number of euros
One bed pool or mountain view =X number of euros.
We are only asking for a ballpark figure from agents or people who have a property, not necessarily for sale but would advise on a price they would want if their property was for sale.
Agents commissions should, if anybody is interested be on another thread.
There that’s me letting off steam but I don’t think I am on my own.
Thanks
Couple of posts that were actually in answer to the question:
http://www.tenerifeforum.org/tenerife-forum/showthread.php?15464-What-s-a-realistic-price-to-pay-for-a-1-bed-on-Dinastia-or-El-Mirador-Tenerife&p=165116&viewfull=1#post165116
http://www.tenerifeforum.org/tenerife-forum/showthread.php?15464-What-s-a-realistic-price-to-pay-for-a-1-bed-on-Dinastia-or-El-Mirador-Tenerife&p=165326&viewfull=1#post165326
Unfortunately try as I did, I could not stop some muppets on here dragging it off down the well trodden "I think agents charge to much even though I know sod all about the industry" route...
delderek
14-04-2012, 19:37
Off topic yes, but does it not also prove that by letting a thread run on a bit, it can generate a bit of interest, and banter, rather than moving it to the dungeon or elsewhere too soon, and killing it. 10 pages in a few days is a bit rare lately.
:)
Well that was a complete waste of my time and I suspect other peoples to. Having read through 10 pages started on the 11th April by jogger321 , the question for those who have forgotten or lost the will to live was “What’s a realistic price to pay for a one bed on Dinastia or EL Mirador, Tenerife?”
This was of interest to me as I have been looking at different properties and with the falling market was not sure what a realistic price was for one bed property.
The question was not difficult; all it needed was for someone individual or agent to give an approximate figure.
E.G. One bed sea view = X number of euros
One bed pool or mountain view =X number of euros.
We are only asking for a ballpark figure from agents or people who have a property, not necessarily for sale but would advise on a price they would want if their property was for sale.
Agents commissions should, if anybody is interested be on another thread.
There that’s me letting off steam but I don’t think I am on my own.
Thankstake a look at c.i.m's web site tenerife property repossessions, there is a nice apartment for sale on dynastia at a realy good price, and an even better bargain on summerland just round the corner opposite the agumar
Added after 3 minutes:
:eyebrows:
Off topic yes, but does it not also prove that by letting a thread run on a bit, it can generate a bit of interest, and banter, rather than moving it to the dungeon or elsewhere too soon, and killing it. 10 pages in a few days is a bit rare lately.good point delderek:)
I think this topic has had a good run although I don't think its changed many peoples point of view and unless it can get back on topic it should be given a rest for a while
Why do people want to stop the natural progression of regular conversation? Last I looked this was "Tenerife forum" not "THE Tenerife forum"... Let them run their own course ....
Anyway. In the interest of saving the thread from the dreaded padlock.... Is it fair to say el mirador and dinastia are matched for price?
Why do people want to stop the natural progression of regular conversation? Last I looked this was "Tenerife forum" not "THE Tenerife forum"... Let them run their own course ....
Anyway. In the interest of saving the thread from the dreaded padlock.... Is it fair to say el mirador and dinastia are matched for price?
I think the complexes are very similar price wise although there is a lot more variation on Dinastia and of the two it is the one I prefer.
YOUNG GOLFER
14-04-2012, 23:39
I went to Loro Park today with family today ....have i missed much lol
Only thing i would like to say about this commission debate is has any of the members on here joined a Spanish forum and asked the question....(I am British and want to know why in the UK it's 1% and here is 5%)?????
In Spanish of course lol
I think the complexes are very similar price wise although there is a lot more variation on Dinastia and of the two it is the one I prefer.never stayed on the dinastia complex but had a walk round it a few times, and we have stayed at my welsh cousins apartment on el mirador about 6 times now and if we where able to afford to buy we woulkd choose el mirador every time, the place is so well run and there is never anymore than about 8 people around the pool at any time lol just pure bliss
Added after 2 minutes:
:laugh::laugh::laugh::laugh:
never stayed on the dinastia complex but had a walk round it a few times, and we have stayed at my welsh cousins apartment on el mirador about 6 times now and if we where able to afford to buy we would choose el mirador every time, the place is so well run and there is never anymore than about 8 people around the pool at any time lol just pure bliss
Well it looks as if people want it to continue I don't think it will make any difference as opinions are too fixed but so be it!!!!!!!!!!!!
i don't think it will
everything will be 20grand cheaper in the coming weeks:wink:
everything will be 20grand cheaper in the coming weeks:wink:
What, including CIM's fees? Where's my passport?
jogger321
03-05-2012, 08:17
Gosh over 10 pages and nearly 5000 views since my original post.
I've been looking at whats available and I appreciate price does vary considerably depending on the position on the complexes. For example a low down apartment overlooking the road seems to go for less than once with a decent view of the pool.
I'm seeing ones at Dinastia (one bed) being advertised for around 135,000 euro's which with the favourable change in the euro/sterling rate comes in at just under 110,000 sterling.
My own assumption in my thought process is that both of these complexes will never legally able to let to tourists on a commercial basis so their investment potential is somewhat limited. I'm also wondering whether by hanging fire and awaiting for the Spanish economic situation to unravel completely alongside whatever happens to the Euro (Spanish bail out/two tier Euro) it is realistic to expect further declines on these complexes and probably pick one up for use as a holiday home in 18 months time for around 85,000 - 95,000 sterling (one bed)?
Peterrayner
03-05-2012, 08:24
I would genrally agree and think it is a question of timing and you might be right things may well work in your favour over the coming months.
However I suspect that the owners might also have the same view and if you made a sensible offer now ( as others have done recently) you might just get very close to the deal you are looking for say £100K = E123K not that for off the asking price.
willowlily
03-05-2012, 11:03
Gosh over 10 pages and nearly 5000 views since my original post.
I've been looking at whats available and I appreciate price does vary considerably depending on the position on the complexes. For example a low down apartment overlooking the road seems to go for less than once with a decent view of the pool.
I'm seeing ones at Dinastia (one bed) being advertised for around 135,000 euro's which with the favourable change in the euro/sterling rate comes in at just under 110,000 sterling.
My own assumption in my thought process is that both of these complexes will never legally able to let to tourists on a commercial basis so their investment potential is somewhat limited. I'm also wondering whether by hanging fire and awaiting for the Spanish economic situation to unravel completely alongside whatever happens to the Euro (Spanish bail out/two tier Euro) it is realistic to expect further declines on these complexes and probably pick one up for use as a holiday home in 18 months time for around 85,000 - 95,000 sterling (one bed)?
the one flaw in your calculation is the british government will do all in their power to keep sterling down by more quantatitive easing in the not so distant future.
jogger321
03-05-2012, 11:37
the one flaw in your calculation is the british government will do all in their power to keep sterling down by more quantatitive easing in the not so distant future.
No sorry, I should have explained I had already factored in that the British Govt will not allow sterling to rise above above 1.30 as it would kill any exports. I'm attributing the price decline to the enforcement of the letting law, the resultant situation some owners that will be forced to sell as a result and the direction of the Spanish economy
Offer them 85,000 - 95,000 sterling now
Peterrayner
03-05-2012, 12:12
No sorry, I should have explained I had already factored in that the British Govt will not allow sterling to rise above above 1.30 as it would kill any exports. I'm attributing the price decline to the enforcement of the letting law, the resultant situation some owners that will be forced to sell as a result and the direction of the Spanish economy
Offer them 85,000 - 95,000 sterling now
I would guess all the forced sales have just about gone !!! and the Russina buyers are keeping the prices at about cost level at the moment so I doubt you will get any takers at those levels.
There might be a real bargain coming up soon if the courts could get there finger out. I will keep you posted. :)
Added after 15 minutes:
I should add I am talking about Dinastia and we have seem a steady flow of sales over the past year.
The ones that are left are unlikely to sell at a loss IMHO and seem able to wait for a reasonable offer.
I would guess all the forced sales have just about gone !!! and the Russina buyers are keeping the prices at about cost level at the moment so I doubt you will get any takers at those levels.
There might be a real bargain coming up soon if the courts could get there finger out. I will keep you posted. :)
Added after 15 minutes:
I should add I am talking about Dinastia and we have seem a steady flow of sales over the past year.
The ones that are left are unlikely to sell at a loss IMHO and seem able to wait for a reasonable offer.
Last week we heard from some forum member that the massive downturn in illegal tourist renting would massively reduce residential market prices
Are both Dinestia and el Mirador exempt from these price reductions or we haven't reach that point yet or it was just forum one-sided crap again ?
Peterrayner
03-05-2012, 13:30
Last week we heard from some forum member that the massive downturn in illegal tourist renting would massively reduce residential market prices
Are both Dinestia and el Mirador exempt from these price reductions or we haven't reach that point yet or it was just forum one-sided crap again ?
I wouldnt know about el Mirador :)
all I do know is that we havent seen any massive price reductions due to the lettings situation. Yes prices have dropped from a peak in about 2009 but due to the relative exhange rates this has meant UK sellers are getting sales at the moment at or about the 2006 off plan purchase prices.
delderek
03-05-2012, 13:59
No sorry, I should have explained I had already factored in that the British Govt will not allow sterling to rise above above 1.30 as it would kill any exports. I'm attributing the price decline to the enforcement of the letting law, the resultant situation some owners that will be forced to sell as a result and the direction of the Spanish economy
This from Bloomberg, backs up your thinking.
Spanish home prices are poised to fall the most on record this year, leaving one in four homeowners owing more than their properties are worth, as the government forces banks to sell real-estate holdings.
The article is here if you want to read more.
http://www.bloomberg.com/news/2012-04-01/mortgage-column.html
Peterrayner
03-05-2012, 14:11
I will tell you what is crap and self centred on this forum is how some people hijack threads and take them wayyyyyy off topic. :)
Added after 8 minutes:
This from Bloomberg, backs up your thinking.
Spanish home prices are poised to fall the most on record this year, leaving one in four homeowners owing more than their properties are worth, as the government forces banks to sell real-estate holdings.
The article is here if you want to read more.
http://www.bloomberg.com/news/2012-04-01/mortgage-column.html
you just dont know what to believe I recall this week seeing a Blevin Frankland (sp) link about lots of Brits preparing to purchase in Spain this coming year..will try and find the link.
delderek
03-05-2012, 14:20
im sorry but dont what he say is TOTALLY different to what you are saying ???
he says UK 1.30/LETTING LAW/NO JOB :denied:
you say BANKS what i totally agree with you and bloombergn:agree:
the takeover of CAJA CANARIES has valued it and and its entire assets as zero ,they have written it down to nothing .
The poster also stated::and the direction of the Spanish economy
delderek
03-05-2012, 14:26
I will tell you what is crap and self centred on this forum is how some people hijack threads and take them wayyyyyy off topic. :)
Added after 8 minutes:
you just dont know what to believe I recall this week seeing a Blevin Frankland (sp) link about lots of Brits preparing to purchase in Spain this coming year..will try and find the link.
OK, What would you pay for a one bed on Dinastia (not what you would try and sell yours for):)
Peterrayner
03-05-2012, 14:27
....i know 3 bed flats going for €30k ,poster earlier said flat brought for €26k between airport and los crist...
right i off to cut my lawn .... :hi:
el fraile :spin: :spin: :spin:
OK, What would you pay for a one bed on Dinastia (not what you would try and sell yours for):)
nothing :) (psst I dont own a 1 bed on Dinastia)
Added after 3 minutes:
All I am reporting is the situation as I have experienced it and so far it is nothing like the "predictions" posted on this thread. My immediate neighbour has complete his sale last week. :)
golf birdie
03-05-2012, 16:49
yes you right - i say around €40k for 1 bed on Dinastia or El Mirador
had my say let you get on with it ....i know 3 bed flats going for €30k ,poster earlier said flat brought for €26k
between airport and los crist...
please let me know when I can get 1 beds on Mirador at this price and I will have 10.
Plus I think 26K in el fraile may be overpriced.
delderek
03-05-2012, 17:26
please let me know when I can get 1 beds on Mirador at this price and I will have 10.
Plus I think 26K in el fraile may be overpriced.
Just bide your time:) They are probably the tiniest one beds on the Island 42/44 m3, I have seen larger studios.
golf birdie
03-05-2012, 17:51
Just bide your time:)
I don't consider myself old but I'd bet they won't go that low or anywhere near it in my life time (unless war breaks out in Europe). Supply and demand wil keep certain area/complexes OK.
zumba queen
03-05-2012, 22:38
:crazy:
Just bide your time:) They are probably the tiniest one beds on the Island 42/44 m3, I have seen larger studios.
I doubt that very much,but for outside space which nearly everybody wants it is nearly impossible to beat,unless you know better.If the price ever gets to your half-wit valuations i will run round los cristianos with you on my back.:crazy:
YOUNG GOLFER
03-05-2012, 22:51
I only went there to this complex for the first time on tuesday .......nice clean complex well run...think at the moment the price for a nice one bed will be around 139,000 but got this felling they will come down in price in the next year....... more seem to be coming on the market at the moment.
I see apartments all day long and have to say the size is good for a1 bed very nice properties in a nice area.
delderek
04-05-2012, 09:51
:crazy:
I doubt that very much,but for outside space which nearly everybody wants it is nearly impossible to beat,unless you know better.If the price ever gets to your half-wit valuations i will run round los cristianos with you on my back.:crazy:
Mmmm, I didn't give a valuation, but I like the piggy back idea.:thanx:
carolethatch
12-05-2012, 11:19
Gosh over 10 pages and nearly 5000 views since my original post.
I've been looking at whats available and I appreciate price does vary considerably depending on the position on the complexes. For example a low down apartment overlooking the road seems to go for less than once with a decent view of the pool.
I'm seeing ones at Dinastia (one bed) being advertised for around 135,000 euro's which with the favourable change in the euro/sterling rate comes in at just under 110,000 sterling.
My own assumption in my thought process is that both of these complexes will never legally able to let to tourists on a commercial basis so their investment potential is somewhat limited. I'm also wondering whether by hanging fire and awaiting for the Spanish economic situation to unravel completely alongside whatever happens to the Euro (Spanish bail out/two tier Euro) it is realistic to expect further declines on these complexes and probably pick one up for use as a holiday home in 18 months time for around 85,000 - 95,000 sterling (one bed)?
Yes, but you must remember there are 4 different sized one bed apartments in Dinastia, and the smaller ones could go for that price, but not the larger ones, and also the different blocks draw a premium price.
jogger321
13-05-2012, 09:49
Yes, but you must remember there are 4 different sized one bed apartments in Dinastia, and the smaller ones could go for that price, but not the larger ones, and also the different blocks draw a premium price.
I think on El Mirador the apartments are all one size but yes I understand on Dinastia the one bed apartments come in two sizes. I also believe that some people have converted the oned bedders into 2? Out of interest which blocks do you believe carry a premium price within Dinastia and why?
carolethatch
13-05-2012, 10:39
Blocks "F" and "G" get winter sun, so are very popular. There are 4 different sized one bedders, with the very large one being often changed to 2 beds, and you are still left with a large apartment even after the work has been done.
princessmonika
13-05-2012, 11:44
i stayed in one , before i got my own place , it was converted into 2, but the one converted is soooo small ,there where 2 very small 2foot single beds in it ,no room for anything else pooky pooky -- would never buy one ,which is converted --- buy a proper one bed or 2 bed
boredinscotland
13-05-2012, 12:01
In my opinion El Mirador is superior to Dinastia and would cost more to buy a 1 bed, combine inside space with OUTSIDE space and you will have one of the largest 1 bed penthouse apartments Del, I would not buy a downstairs as you buy in Tenerife for outside living so penthouse perfect. Pricewise everyone knows I sold recently for £135k Sterling and in my opinion that will be top price to pay for superior positioned apartments. I also think you will be able to buy a 1 bed on Mirador and Dinastia for around £100k Sterling NOW, people want out and property is only worth what someone wants to pay for it.
People buying in Tenerife to make money by renting long term/holiday lets, forget it,,,,,,impossible. Buy to live the dream
karinagal
13-05-2012, 12:12
We stayed in El Mirador one Christmas and it was a lovely apartment with loads of outside space. Only 2 problems we had: the position of the apartment meant that although it was classed as 'ground floor' it was up a load of stairs! The other problem was that the pool wasn't heated and it was heart stoppingly cold! Didn't stop me using it but it took a while for me to go in completely.....
The undisputed queen of de-nial
boredinscotland
13-05-2012, 13:32
Just looked at this whole thread, Balcony, go with CIM, you may/may not have got on the wrong foot but you will get more money for your apartment with him on board than you will yourself, and also recieve no bull****. He was the most helpful for me with advice but as my apartment sold in 3 days by another agent did not get the chance to sell mine,,,,I know who I would have preferred to get the commission
Angusjim
13-05-2012, 13:48
Just looked at this whole thread, Balcony, go with CIM, you may/may not have got on the wrong foot but you will get more money for your apartment with him on board than you will yourself, and also recieve no bull****. He was the most helpful for me with advice but as my apartment sold in 3 days by another agent did not get the chance to sell mine,,,,I know who I would have preferred to get the commission
Great guy honest & trustworthy but don't invite him to your house for a meal and drinks, Tom & Sharon cannot get rid of him 4 years on :eyebrows::crylaughing:
delderek
08-06-2012, 21:05
Are these the sort of discounts that will be the norm shortly.
http://www.casaktua.com/segunda-mano/vivienda/tenerife/buscador.html
Are these the sort of discounts that will be the norm shortly.
http://www.casaktua.com/segunda-mano/vivienda/tenerife/buscador.htmlwow:wow: some amazing bargains if you just want to go and live anywhere in tenerife, and you are not bothered about tourist places like las americas and los cris,there are also some pretty grim places as well, that grandillia doesn't look like a very popular place, and did i read the one right? reduced from 500,000 euros to 43,000??? someone has either got there maths wrong or they grossly overpriced it in the first place lol
delderek
08-06-2012, 22:31
And that's only the start of the bank sell offs.
I_N_Cognito
09-06-2012, 17:36
Are these the sort of discounts that will be the norm shortly.
http://www.casaktua.com/segunda-mano/vivienda/tenerife/buscador.html
Location, location, location, and if it aint no good in the first place it aint gona get any better.
Had a look the first few pages no Dinastia/Mirador properties.
Location, location, location, and if it aint no good in the first place it aint gona get any better.
Had a look the first few pages no Dinastia/Mirador properties.yep like i said it's ok if you just want to live in tenerife:)
delderek
09-06-2012, 18:45
Location, location, location, and if it aint no good in the first place it aint gona get any better.
Had a look the first few pages no Dinastia/Mirador properties.
Quite a few on the Golf and Las Galletas, and Adeje, for 30 or 40 grand sterling, you could afford an awful lot of taxi fares
golf birdie
09-06-2012, 19:25
Location, location, location, and if it aint no good in the first place it aint gona get any better.
Had a look the first few pages no Dinastia/Mirador properties.
agree. As I said in another post there are places here that are worthless let alone 40k. If you buy in the right area your money will be a lot safer. In the main tourist areas of the south the market is bigger due to the number of different nationalities in the market and apartments are still selling for decent amounts.. Buy in the wrong place only the Spanish will be in the market for it. Same the world over, good areas and bad areas.
delderek
09-06-2012, 19:44
agree. As I said in another post there are places here that are worthless let alone 40k. If you buy in the right area your money will be a lot safer. In the main tourist areas of the south the market is bigger due to the number of different nationalities in the market and apartments are still selling for decent amounts.. Buy in the wrong place only the Spanish will be in the market for it. Same the world over, good areas and bad areas.
In general I would agree, but where in any English agents would you see a price like this on the Golf.
3197
58900 euros 2 bed 92 sq mts
golf birdie
09-06-2012, 19:55
In general I would agree, but where in any English agents would you see a price like this on the Golf.
3197
58900 euros 2 bed 92 sq mts
the golf has for years been in a bubble. Apart from golf what does it offer the tourist? No beach, planes overhead all day. A sign of an area not to buy in is unfinished complexes
delderek
09-06-2012, 20:12
the golf has for years been in a bubble. Apart from golf what does it offer the tourist? No beach, planes overhead all day. A sign of an area not to buy in is unfinished complexes
Couldn't agree more, not my cup of tea,,,but as an example!!
golf birdie
09-06-2012, 20:24
Couldn't agree more, not my cup of tea,,,but as an example!!
the price can change by many 1000's even on the same complex. One apartment I know of went for 150K whilst another can't sell for 100K. The difference? The best one had a view of the pool, sun most of the day on the terrace and was a better laid out apartment. Its a buyers market without a doubt but the good apartments on the right complex will sell at a decent price all day long.
The best price on El Mirador right now for a penthouse apartment is 139,950€
http://tenerifeestateagents.net/el-mirador-penthouse-apartment-for-sale-los-cristianos-2/
Thats quit a drop from their peak. I listed this one yesterday and haven't found anything else close to this price which is surprising. A lot of ground floor ones at low prices but no penthouses.
Peterrayner
15-02-2013, 09:26
CIM
any recent valuation on 2 bed on Dinastia Pool side covered balcony 1st Floor beautifully furnished.
boredinscotland
15-02-2013, 10:03
The best price on El Mirador right now for a penthouse apartment is 139,950€
http://tenerifeestateagents.net/el-mirador-penthouse-apartment-for-sale-los-cristianos-2/
Thats quit a drop from their peak. I listed this one yesterday and haven't found anything else close to this price which is surprising. A lot of ground floor ones at low prices but no penthouses.
My pal just paid 155 Euro for one across landing from my old one, that had garage space, but this is still good buy for someone
PeterRayner, another pal has 2 bed penthouse pool facing on around 240 Euro
Peterrayner
15-02-2013, 10:12
forgot to add its an original 2 bed 90m2 PLUS 19m2
NOT A CONVERSION.
delderek
15-02-2013, 19:53
As I may be looking to reinvest soon. Do I detect that prices are not falling as rapidly as a few months ago (except for the bank repossessions) and that sellers have a baseline, that has now been reached.?
Its getting a bit like that in good areas / popular complexes.
I think people are starting to realise that the bank resale repos are for the most part a load of rubbish - 99% of them anyways. Those sat waiting for repossessions and stuff on Parque Santiago III and Royal Palm better not be holding their breath :)
I spoke to an agent today who took a contract with La Caixa for their stuff and they are sick of it - total garbage that just does not appeal to our market (non-resident buyers who want something quality.) They have sold hardly anything but get asked for loads and loads of viewings as the prices look TGTBT. I list hardly any of them for this reason - just cherry pick the best ones.
I´ve also ran into a bit of competition amongst buyers. Had two offers in one day on Tuesday and the buyer who eventually got it bid up above the other one to secure a sale.
does anyone think that the market will change now that russian investors seem to be interested in coming to tenerife? because they have lots of money to invest:wink:
CIM
any recent valuation on 2 bed on Dinastia Pool side covered balcony 1st Floor beautifully furnished.
No, I don't know of many that have sold on there.. I would have asked you to be honest! I took one a month ago for around 185,000 but it was on the roadside so whilst very nice its not as desirable and it makes a bigger difference in a buyers market than it would have before.
slodgedad
15-02-2013, 21:51
No, I don't know of many that have sold on there.. I would have asked you to be honest! I took one a month ago for around 185,000 but it was on the roadside so whilst very nice its not as desirable and it makes a bigger difference in a buyers market than it would have before.
It's the question everyone asks, not just about these complexes.
In this economic downturn then it is always going to be a gamble.
Must admit I am one of the island's losers, as I bought at the wrong time.
If you feel the price is OK then go for it.
My apartment was valued at over 40 grand more thhan the asking price, 5 years ago, but is now worth 30 grand less than I paid for it.
does anyone think that the market will change now that russian investors seem to be interested in coming to tenerife? because they have lots of money to invest:wink:
yes of course, they have the money and appreciate the cliamate year round, I know of one russian guy who bought a few apartments near us and lets them out, when the brits have all been hammered by the illegal letting farce, look to the rusians to buy up the apartments and rent them out just the same.
yes of course, they have the money and appreciate the cliamate year round, I know of one russian guy who bought a few apartments near us and lets them out, when the brits have all been hammered by the illegal letting farce, look to the rusians to buy up the apartments and rent them out just the same. but surely that will change the whole brit/spanish feel to the isle and wont they be in the same predicament as the brits that illegally let in the first place?
but surely that will change the whole brit/spanish feel to the isle and wont they be in the same predicament as the brits that illegally let in the first place?
It's called evolution and change. The Russians were starting to come to Tenerife anyway, see the restaurant menus etc.they are in the water parks daily and they spend money in and around the best hotels.its only natural that like us Brits before them, the next step is buy holiday homes and rent them out. At the moment the govt crackdown is solely aimed at Brit/Irish owners on owners direct, the govt have their hands full with that. The future Russians may well be able to enjoy legal individual letting, I can't see the govt hanging on to their mad position on the issue for much longer.
But in the meantime wealthy Russians will buy and rent and yes the resorts will alter for that, the Russians will be the best buyers for Brits wanting a quick exit from the letting fiasco today
Leam_Lin
18-02-2013, 08:54
God help the complexes they buy on, The Russians (lots of them) who stayed in The Jardin Tropical in San Eugenio last May were very loud, children & adults from early morning until the early hours of the next morning, it seems because they have money no-one will say anything to them. In the restaurants inside Jardin Tropical & also outside restaurants their manners to the staff were unbelievable.
God help the complexes they buy on, The Russians (lots of them) who stayed in The Jardin Tropical in San Eugenio last May were very loud, children & adults from early morning until the early hours of the next morning, it seems because they have money no-one will say anything to them. In the restaurants inside Jardin Tropical & also outside restaurants their manners to the staff were unbelievable.
the russians you remark on will not be a typical russian. After 70 years of totalitarian communism its to be expected that they let off steam on holiday. The brit opinion used to be the same about germans, being arrogant and loud in the hotels. The reason was the germans were well off blue collar workers, these germans could holiday in the same 4 star places as gentile middle class brits, hence the tendancy of the brits to judge and generalise the germans as all loud and arrogant.
Its a changing dynamic, and in this case we have the canary govt trying to oversee their tourist industry , dreaming of 5 star well heeled clients and bashing the brit private renters, then partly due to their meddling in market forces they end up with working class russians , worse than the brits.
Be careful what you wish for.
God help the complexes they buy on, The Russians (lots of them) who stayed in The Jardin Tropical in San Eugenio last May were very loud, children & adults from early morning until the early hours of the next morning, it seems because they have money no-one will say anything to them. In the restaurants inside Jardin Tropical & also outside restaurants their manners to the staff were unbelievable.that's why i asked the question, because it is no good us planning to buy and settle in tenerife in another 10 years if it's going to be over run with loud mouthed russians:mad: and i know we have loud mouthed brits but at least i could argue with them and be understood:lol:
Bloody 'Ell, :laugh:You'll all be saying they eat babies next....
Bloody 'Ell, :laugh:You'll all be saying they eat babies next....well that rasputin wasn't a barrel of laffs was e?:lol:
Leam_Lin
18-02-2013, 19:05
Bloody 'Ell, :laugh:You'll all be saying they eat babies next....
Not quite, but not one glass of bucks fizz at brekkie, but just taking the bottles of champagne & their plates couldn't get any more salmon on them!
Not quite, but not one glass of bucks fizz at brekkie, but just taking the bottles of champagne & their plates couldn't get any more salmon on them!they sound like a "my big fat gypsy wedding "clan:lol:
Leam_Lin
18-02-2013, 19:43
they sound like a "my big fat gypsy wedding "clan:lol:
Thats about right.
I have a client looking for a penthouse on El Mirador now - funds in place etc. But I´m not finding much under 150,000€ - lot of ground floor apartments but penthouses all seem quite a bit more expensive. And I think the asking prices on there look slightly higher than this time last year!
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