Overseas property
I have just had an email from a Florida based company that deals in distressed sales of property from builders in difficulty.
This one was concerning a big complex just outside Orlando called Regal Palms.
It has a central clubhouse with entertainment,sports facilities,tennis courts,3 swimming pools,bar,restaurant,saunas,gym,steam rooms and secure gate entrance to the complex.
The company involved are desperate to sell the remaining 3 or 4 bed townhouses each with minimum 2 bathrooms so that the builder can finish this contract and move on.
The 3 bed 2 bath prices start at around £59000 up to £69000 for 4 bed/3 bath and these prices include free membership and use of all the facilities.
Bearing in mind we couldnt buy anything for less than about £150k only 2 years ago ,these low prices are staggering for a 2nd home in the "Sunshine State.

The collapse in the 2nd home market in recent years can clearly be seen from this example when you think of all the free facilities which mean you would hardly need to leave the complex at all whether you wanted to swim,exercise,eat,drink,see a show or just relax.

Unfortunately we purchased at the top of the market but buyers now, in any holiday country,have a terrific choice of bargains everywhere!!!

If I was a prospective buyer I would be knocking at Kym or Mushtaq,s office door and snapping places up!!
Like the USA firm has suggested,as we recover from global recession,property aint never going to be so cheap again!!.
I would even suggest Paul (Crashtester) buys asap (Naaaahhhh unlikely LOL!!

Anyone fancy a half share in a 3rd home Lol.
What a good investment they are now with the worlds markets set to improve!!
I have been through several recessions so buy before everyone else pushes demand and prices up!!

My usual 10% please Kym Lol!!
 

pebble

Member
Overseas property
wow what a deal........i would jump on the bandwagon for sure for prices like that......
 

jcrian

Member
Overseas property
One thing that they don't mention is the maintenance charges for each property which when I researched awhile back were astronomical
 

Ms Who

aka Kym Ciftci
Overseas property
Errr yes about your commission Terry. Well, we have ran out of dosh cos the forum scared all the customers away so Ive asked Mushtaq if he would help me pay you in kind but strangely he didnt seem too keen?.
 

immac

Senior Member Has-Been
Overseas property
You also can not guarantee they will let you into the country to stay in your house; meet a difficult border guard who thinks you are spending too much time there, and you will not get in.

Ian
 
Overseas property
We were all talking about 2nd home bargain prices the other day and I posted it to illustrate that plenty of buyers are in the market for bargains if people want to sell and there is some terrific stuff about overseas including Turkey.

I was suggesting that property cant possibly stay this cheap for ever and , if I was a buyer in Turkey, I would be getting my property NOW from people like Kym and Mushtaq.
I know there have been problems with various legal issues and many have suffered so buyers have been put off BUT there are now so many things in the buyers favour.

Surplus of property.
Terrific choice.
Some really trustworthy agents here on TLF.
Rock bottom prices.
If paying cash,considerable bargaining power.

We found you can talk about it until the cows come home and discuss it with everybody but in the end, if you like Turkey and want a place, there is no better time than now.
Most of the bad agents have gone and left the reliable good ones so the risks are near enough zero with the right agent.

Now you KNOW who they are from being members on here so GO FOR IT!!



P.S. Ian x2, Yes both fair comments and I was using Florida as an example of whats around for serious buyers anywhere overseas.
 
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Overseas property
Errr yes about your commission Terry. Well, we have ran out of dosh cos the forum scared all the customers away so Ive asked Mushtaq if he would help me pay you in kind but strangely he didnt seem too keen?.
Ha ha Kym nice one
I am convinced though that serious buyers who sit back and worry about the pitfalls and delay for years will miss the boat!!
There is more optimism appearing slowly and you can see the world stockmarkets slowly pulling up.
I dont think property will be this cheap again for years if at all but thats just my opinion.
Prices have been up and down during my 40 years of owning but there has always eventually been that inexorable rise upwards and I cant see that ever changing.
Its the only way I ever found to get some dosh behind me.
No its a good time to buy with the right agent!!

Sorry double post!!
 

PASH

Member
Overseas property
One thing that they don't mention is the maintenance charges for each property which when I researched awhile back were astronomical

My wife owns a townhouse in Florida on a gated community, her maintenance charge per annum is $5700 covering grounds, insurance and security. it is very expensive in the States
 
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jcrian

Member
Overseas property
My wife owns a townhouse in Florida on a gated community, her maintenance charge per annum is $5700 covering grounds, insurance and security. it is very expensive in the States

Ouch!

Maybe not so much a bargain after all with those sort of overheads
 

Sunny Seasider

Life is so precious
Overseas property
Hopefully there is light at the end of the tunnel, June has shown a growth for the first time in 12 months, the Banks Barclays and HSBC are also showing signs of recovery. I feel confident, that say in 18 months prices will get back onto positive growth again, we all just have to sit tight and wait, but at least some news is giving us positive vibes.
 

PASH

Member
Overseas property
Hopefully there is light at the end of the tunnel, June has shown a growth for the first time in 12 months, the Banks Barclays and HSBC are also showing signs of recovery. .

Lloyds and HBOS have just posted huge losses, Northern rock have lost even more of our money, sadly, i do not share your optimism. I hope i am wrong!
 

Mushroom

Member
Overseas property
Sticking briefly to Florida.
The research I made as someone who was not keen on the place in the first instance was that as already mentioned maintenance fees are big and will only rise, but also very importantly, unless the buyer is not interested in future rises in valuation and will accept that usage or rental is all that is required, the last time property took a serious dip in the US, Florida in particular, it took about 3 decades to rise back to its earlier high point !
To me that separates a cheap buy from an investment.
 

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