Roda Clubhouse and Beach Club

Hi Searay.

You're right in all that you say. From my point of view (Corvera phase 3), I will make the final decision of to carry on, push for a delay or ask for my monies back when the completion deadline arises, as even if I had my deposit in my bank now, it would be earning no interest. If I were an investor I would be looking to get it back immediately because of the gain through currency exchange rates although this will probably change by the time everything has gone through the courts.

I do still hope to live at Corvera but will obviously take everything into consideration when the time comes.

Steve

It will only take 20% of each phase not to complete and calidona will be in S*** Street

hi steve .

"ask for my money back" if only it were that simple !! and i am speaking from experiance of  dealing  with calidona  , trust me if you think its bad trying to get factual information from them , wait untill you try to get your money returned then you may just realise what all of us have got into  !!

Point taken.   Keep posting

I am a Phase One buyer.

We specifically asked the question " when will all of the facilities be ready?" before we signed anything. We were told that all of the facilities would be ready alongside completion of phase one or very shortly afterwards. This was irrespective of development of the other phases.

There were other buyers at the show home/office at the time we asked the question that heard Calidonas reply.

Paul C.

Hi Paul

I think you can call that Hearsay mate

If its not in your contract forget it

All the above has been, and is being said all over the world at the moment by anyone who has bought a property on any resort or in any country. It is compounded for Brits because of how weak the pound is against all currencies. (the pound has actually fared better against the Euro than it has against the Turkish Lira, Dollar etc etc). I have been here for 10 years in all and have seen the development of many resorts in the area, doing work on all of them. Corvera will be the best new development in the area, and the best will come to the top once the economic recovery starts. There are very few people in the world that could have predicted the current climate. The plans for the resorts and the timescales are all based on a demand that is currently  not there. If you can hold out, do so, if you cant, dont solely blame the developer (whichever resort you have bought on). At the time you decided to do what you did, your main reason was probably investment, well investing is risky or very boring but in both cases its longterm. In time you will have a property on one of the best golf resorts in the world. 

Thank you for those words Hairbear.  With all the negative comments on this forum recently, I have stopped logging on as much - glad I did this morning.

Regards, Anita.

Anita,

I love living in Spain, it is the best thing I ever did. I have probably lost about 150k on the value of my house since this time last year but it hasnt spoilt it for me. I will sit it out, it will go up again in a year or so (perhaps not to same value for several years). In the meantime I will live 12 minutes from the sea, sit on my terrace, overlooking the pool (still a little chilly) with my 78cents 1 ltr of beer, my bowl of olives on my sun lounger.

It is 11.55 am saturday 14th Feb and its very sunny and already 18 degrees. Cheers to all.

Hairbear, quite cruel that for those of us still with snow on the ground here! But glad to hear your positive comments and insight on the situation.

Having lived in Spain for so long and presumably having a property already (a very nice nice one by the sounds of it - it you have lost £150K in value in recent times) can i ask what made you decide to buy on Corvera - did you plan to live there or was it just an 'investment'?

Cheers

Kevin

I havnt bought on there but I live very very close, have visited it on many occassions and also done alot of work on Roda.

Hairbear, i think you miss the point a little, yes there are lots of negative comments being posted about any development in the world at the moment due to the current climate.However the point made was that this product hasnt been delivered as promised not only at Roda but also at Corvera when things were still all fine and dandy.So if they cant deliver on promises then ,there is no chance in hell that they are going to deliver on them now.It is verging on criminal how long they have kept our money without any mention of compensation, and yet i keep on hearing the same comments of" dont blame the developer," or "its not their fault" or "its a global recession"......its insane how people are making excuses for a company that are ripping us off. As i have said many times on here, it doesnt matter if you are an investor or a lifestyler either way we are all being exploited and fobbed off, and all those lifestylers out there who think like you that it doesnt really matter that their property has lost 20-50% of its value are very sadly mistaken because the knock on effect is nobody will be buying any more phases and numerous investors will be pulling the plug.So the end product will not be delivered as advertised, and that will mean a pretty rubbish "lifestyle". Please look on the Roda website and see what is happening there with non-payments of fee and an incomplete resort, i think Corvera is going to be a lot worse off.

sorry Anita. I know you dont like negativity but it is reality.

regards

Dave

Hi Dave

What gets me is that so many people out there are absolutely certain that Corvera will fail.  Do you have a crystal ball?  How can you be that certain?  What is it that Calidonia are actually doing wrong at the moment.  At present there are approximately 500 workmen at Corvera, and it has been posted that Calidonia are in a healthy state financially.  1200 units have been sold, obviously some purchasers will be unable to complete with the financial situation as it is, but many will.  The golf course, along with the club house, are due to be completed at the end of the year, the sports facilities should be completed along with Phase I/II completions.  The only part probably on hold is the Hotel.  Although that has never been said.  What is the problem with just letting things progress as they are and not trying to guess what might happen in the future.  I know a forum is a place for everyone to share their viewpoints, fair enough that is the whole point, but until Calidonia do something wrong with regard to Corvera, apart from the obvious past delays in commencing building, I will keep my positivity going.

Regards, Anita.

An excellent post Anita, very well said.

Dave (Spanhod) I am afraid it is you that has missed the point, a lot of what you say makes perfect sense and you are of course correc t about the delays, etc. I say this with all respect Dave so please take this as a positive.

The problem is you choose, like a lot of people, to concentrate on the negatives, there are in fact a lot of positives and it is these things that we could all be concentrating on, most of the people posting on both the Roda and Corvera forums have a considerable amount of money invested in either or both resorts, so everybody to a certain extent is in the same position.

You state that properties have lost between 20% and 50% of the original value, but this simply not true, completions will be taking place shortly and the banks are valuing the properties at that sales price, why would they do that if they were up to 50% less?

If you have to sell in a hurry then yes you are vulnerable, this is a buyers market and you will lose, if you do not need to sell, then your property is worth whatever you want it to be, if you are not in a hurry to sell, then if someone wants to buy your house they must pay YOUR price, otherwise you don't sell.

Calidona are still building at both resorts, I am told that they are also selling at both resorts, at Corvera according to some posts and other web sites is flying up with hundreds of workers on site, I am told that Roda are working feverishly on the new car park and sports facilities area, with the commercial area about to begin, these are facts, lots of delays, but still working.

There are hundreds of developments lying abondoned, this is not a Spain problem exclusively, all over the world and especially the UK, Calidona are still building, a Fact.

All Anita, myself and a few like minded people are saying is post responsibly, we have got rid of the forum idiot this week, lets get back to useful and helpful information, lets to try to help each other through difficult times and when there is something that might be of interest to post, post it, when there is something factual to post and interesting as well, then post it, if it is bad news, post it but try to put a positive slant on it.

Try to end the speculation please, assume we all know about the reccession and the ongoing banking crisis, assume we all watch the news, incidentally did anybody hear that house prices actually went up in the UK in January according to one lender, now if anybody has anything negative to say about that, don't say it, nobody wants to hear it, lets just concentrate on the fact that there may be some light at the end of the tunnel.

I believe that Corvera will be a very nice resort, I know Roda Golf is very nice and I actually know of people who live on Roda and they would not be anywhere else in the world, a fact!! I also know of people who can't wait to move on to Corvera, a fact!!

I wish these folks would start to post on these forums, would add a little sparkle for sure, FACT!! Keep up the good work Anita.

well said MARVIN3004 ,everybody has their opinions,if you want to remain positive then stay positive,if people want to talk things down then thats up to them,who really knows whats going to happen this year,all we know is calidona is still building which must be good

,i dont think anybody was aware the completion dates would take this long,if i did , i know i wouldn't have tied my money up for 3+ years,at the end of the day we all have but that was back when the market was better,property doesnt always go up in value but over the longer term its not always bad,

i think we all know what was being sold to us ,so to expect  everyone to complete without all facilities being built would be calidonas biggest mistake!

Dear Marvin 3004,

 Calidona may be speculating in their own way now by getting on with Corvera and building all the facilities, perhaps not a hotel (which as others have said, as owners, will make renting out easier) so they have an amazing developement ,which of course it will be.  This will then be beneficial to them as nobody will want to purchase on any of the abandoned developements, Corvera will look like an oasis in the desert of abandonment. I

Waiting  for our phase 3 to be completed but it will be so worth it.

Shudi

Spanhood,

I miss alot of points but didnt miss many on my legal contract when I signed up for my houses (well my lawyer didnt anyway).

Your REALITY is abit premature but we all have our views on it.

My reality is that you will have a property on a PGA golf course from about 250,000 euros depending on the type. (keep it in euros because if you change it to sterling you start to blame the developer, Spain etc for the sterling exchange rate demise).  Still very good value.

Hairbear

P.S.

19 degrees and sunny here at moment 17.02.09  15.25

sorry i appear to be missing something here??

Hairbear you havent even bought on this resort, have admitted that your property where ever it is ,has fallen 150k in under a year (thats euros, i like to stay in euros because thats what most property in spain is sold for) and yet you are saying that the Corvera properties are still great value despite this. Now Marvin has posted that he doesnt believe property prices have fallen 20-50% because he makes a very interesting point that if you put your apartment/house on the market at what you paid for it then you havent lost?? I am afraid Marvin market value isnt dictated by that but by what someone is prepared to pay for it. Obviously if you leave it on the market for 5 years then it should come back. Just look at how many are for sale on the secondary market and that is before anyone has completed sale.The real price will not be showing until this has happened.Re the banks offering lending on full price i dont think that is a very good indication of price considering you have already paid 30%, but as there have been no completions and you are not currently allowed to sell it on at whatever price you choose that is the price.

i am not being antagonistic here, i sincerely believe (as a buyer myself) that the product promised, if delivered will be a quality product and will surpass anything else in the area.The golf course will have to be excellent to be the home of the PGA. But the key words are "IF its delivered", or maybe i should say "when will it be delivered"?? Roda is still incomplete and suffering from various problems due to this and other factors , non-payment of fees  mostly by non-resident owners ,lack of facilities,hotel etc. So why do we think that it will be any different at Corvera?  I am not being a stick in the mud and am all up for a bit of optimism, but please lets be aware of this situation and not sit back and just accept it. This development is massively behind schedule and was already before this current downturn so please stop making excuses for Calidona because as seen in previous posts they are already starting to flex their muscles as far as completion goes. I guess they dont feel too sorry for us eh??

Anyway i have made my point ,and i agree everyone has a differing view, but i do object to being told that i should only post if i put a positive slant on it, the whole point of a forum is for ALL opinions to be heard not just the ones that suit the majority.  so lets agree that  yes there is a recession, yes Calidona at present are not delivering on what was promised and yes we all HOPE it  is a great resort and a great place to live. We are all paying a lot of money and do not deserve to be settling for second best!

p.s 23 degress and a little rain down here in Australia , just off to try and avoid some sharks at Bondi, and then to work to avoid some more sharks!

regards

Dave

Well said Dave

My apologies in advance to those who like to hear nothing but positive comments, but : -

I have had my Corvera off plan apartments for sale for around a year, at around 15-20% less than I paid in 05, when I have contacted the agents they say that no one has shown any interest at all. I get the impression that to get any interest I would have drop the price by about 40%, as I have only put down a 30% deposit clearly I can not do this. As far as the banks are concerned I believe that they will give the original value (as unrealistic as this is), as not to do so would cause a complete collapse in the housing market as a massive number of people would be unable to get mortgages, they are taking the gamble that the housing market will recover in the not too distant future. From my experience and from what I have heard from others I would 'guess' that they have realistically gone down 30-50% (I'm not blaming Calidona).

　No one is blaming Calidona for the recession ( although you can blame them for such things as delays and poor communication), but the recession is here and it will have an effect, it looks like only 1200 out of 1800 properties are sold or likely to be sold in the near future. This is a massive reduction in their projected cash income, one third of the properties not sold, on top of this I would say a significant % of those who have paid a deposit will either choose not to or will be unable to complete (despite Calidona threats), another massive reduction in income.

Companies are there to make profit, with reduced income they will only be able to maintain this profit by cutting costs, if they don’t this will have a negative effect on their financial situation, I believe this is not being negative but realistic.

As has been said Calidona have been very slow in developing Roda during the 'good times' so lets not assume they will improve during the more difficult times, why would you? I would certainly not assume their promises will definitely be fulfilled, they will look after their own financial situation and so must we.

I keep hearing that Calidona are in great financial shape and I hope this is the case. but has anyone seen their financial records? Is there a way of seeing them? it's just that in these current times with poor sales etc, that a developer can be in 'great' financial shape (or at least will remain that way). I believe many have concerns that if they go through with the final payment there is a possibility that in the current climate a financial problem may occur. I have known of several businesses that promises have come to nothing for the simple reason that they have gone bust.

Another concern I have is that if there is no Hotel, or other facilities might this jeopardise the European PGAs link with the development? Surely this would have formed part of the agreement with between Corvera and the EPGA.

Corvera could be an excellent resort if all the developers promises are fulfilled but as Dave has said it’s a big ‘if’ . I know a lot of people like to just look at the positive, but lets not confuse optimism with blind faith. I think that Corvera knew what they were doing when they put together the contract, no completion date in absolute terms, no mention of facilities, golf course, Hotel etc

I believe that by working together we can help increase the chances of a positive outcome at Corvera but this will not happen if we sit back and assume that all the initial promises will be fulfilled. We should look at the  possible negative outcomes and ensure these are avoided as best we can.

This message was last edited by kev2 on 2/18/2009.

hairbear

i have been critical of calidona on many occasions in my opinion rightly so as there delays and none delivery of the product is simply unacceptable .

however i notice looking at some other forums ( polaris world ) you are also saying you have a close association with a senior member of staff ( but will not divulge name ) and are informing concerned owners that there are no problems and everyting will be delivered and to be posative !! .

whilst i am all for being posative as mentioned on earlier posts reality at the end of the day will prevail .

as you mentined on this and other forums you are not an owner , may i ask what your involvement in these developments is?  if the other hairbear is not you please accept my appolagies .