shutters for living room window on Mar Menor 2

These are now available on the AEA website. 

Paul, How can I load a copy onto the DV owners's website , I have added a link to AEA website.

John,

I couldn't remember - the site software was upgraded.
It's now done using the 'more tools' option.  This gives a drop down list which includes 'add attachment'.
So whilst I have there i posted the attachment.

So readers can now pick up the minutes here.

Paul

Thanks Paul

looking at the data from the minutes it's obvious that most apartments are unsold. About 49% of the released apartments are owned by RyF , the released value is 55%. Now I presume that the unreleased 45% are the new blocks coming along and i presume these remain largely unsold, say 40% , so that means that DV will have an unsild population of 45% plus 49% ..ie 91% remain unsold. A cause for concern.

John,

Walking around the place last week your statistic is supported by observation.   Most apartments are empty / unfurnished.

However some may be sold but not completed.

When I paid my deposit  in April 2003 all of  phase Phase 2 was said to be sold  with the exception of two or three ground floor units.
I picked up a cancellation.

It would seem that many buyers have  withdrawn from completing. 

When I was completing I considered that option of pulling out because of the place being completed late and the market forcasts.

My lawyer advised that the builder was being bombarded with requests for deposit refunds on the grounds that the development had taken longer that advised.  
But that RyF was contesting all of  these in court if needed (a bluff I suspect).
Some buyers were investment institutions who were in the running  to flip multiple units.
They would have had significant legal muscle and have been successful in getting deposits refunded.

If my lawyer had given me more confidence of getting a refund and had been more supportive I too would attempted withdraw.

Now I've completed I don't regret it.  We don't live forever and the 12 months stays at DV have been memorable.
Plus  I have to say, I really enjoy the low level of occupation.  We've had eight good weeks stay so far and it gets better at each stay as we get to know the area and
have completed kitting out the place.  
We now have two bicycles and we went along the west coast last week where some quiet beaches are best accessed without a car.

DV is truly a second home.

Just think John if the market takes two full years to recover,  that's  two years of bliss and quiet to spend at your apartment.
Who knows when the markets is soaring again and if DV becomes  full of binge drinker  with late night shouting and vomiting over the gardens and paths - you'll look back
on the happier times with longing. 

As RFY have almost completed the development now I guess we don't have to worry too much about the consequences of so many apartments remaining unsold
other than the market prices will remain competitive  for some time.   But RfY certainly have an incentive to get the development completed and looking smart.

regards.
Paul






This message was last edited by PMillsom on 7/6/2008.

Paul

I couldn't agree any more with your views ...we are on the very front so do not see what is behind us ..its just a pool and a golf course,. My concern is though , and my maths below seem to be failing me, we might be enjoying the peace and tranquliity the absence of people allows us I cannot see ryF picking up the community charges for , say , 500 units per quarter and if they do stop paying, we are in a stcky situation.

Hi John

I have been doing the same sums on the % sold as you but came to a different answer, but its still a large percentage of the total.

if RyF currently own 49% of the 55% already released and in a worse case scenario all of  those that are unreleased (the remaining 45%) then then that is 26.95 % +45% = 71.95% of the total.

If we are optimistic and assume they have sold the unreleased in the same proportion as the released then that would mean that there are 51% sold and 49% unsold.

Splitting the difference I would guess that 60% remain unsold rather then the 60% sold that the developer has been quoting.

Sorry if I have got my sums wrong anywhere

Steve

Hi Steve

Hope you are well and enjoying Dv ...I think what we are both saying is there is a large number vacant...with the prospect of the owner RyF worrying about paying his share of the bills!!  let's hope my natural pessimism is unfounded.

Yes, that about sums it up nicely.

also reading Paul's comments I have to agree, I have no regrets having bought into DV when I did and enjoy it more and more each time we stay.  Roll on the middle of August when we are out there again.

Steve

The list of properties attached to the minutes includes blocks up to block 21, with exception of Block 16, which is last block that will be completed on the site. Not sure exactly how many blocks there were but unless is goes above 21, then as at the meeting date bulk of the units on the site had already been released. Block 5 is also missing from the list and assume that block may be all sold but no owners attended the meeting or were represented.

Ros Y Falcon's name is against approx 49% of a total release of approx 685 as at that date. Suggesting that 51% have been sold & paid for. 

We are in Block 17 and although the Licence of 1st Occupation was issued in September 07. Ros Y Falcon did not make any approach re completion until February 08 and we were led to understand that they were completing sales in a controlled manner spread over a period of time. Hence a few further apartments may have buyers who were waiting to complete as at March

Still leaves a lot of apartments unsold, but perhaps not quite so many or as bleak some of the posts below have suggested.

John

Blocks 5 and 6 are the same...the block on its own facing down the valley...i fancy one of them but none have been sold or released

Hi , I've just completed on an apartment in Block 11 

 Have just read the all the comments and looked at all the photos in one sitting! Getting squared eyed now...   but wanted to say hi to everyone. I can't get out to DV until the very end of July but will be staying for most of August - I can't wait! But because I can't get out sooner  I am stuck with getting the apartment organised before I arrive. Your comments have answered many of my questions - thanks guys - I must confess to feeling a little less nervous about moving in now!

Does anyone know if AEA provide a key holder service? I have given RyF the snagging list but they have refused to collect the keys from the After Sales Office my spanish lawyer sent them to.

After that's done, I'll need to organise the cleaning and entrance for the furniture company. Hence my desperate need to organise a reasonably priced key holder that is local - the ASO want to charge way too much for this service.

Hope to meet up with some of you in August - looking forward to that.  

Greetings from Raz

This message was last edited by Raz1 on 7/9/2008.

My minutes have arrived here in England they were posted 10th July and arrived 11th July the day I came back from DV.

Don't forget the minutes reflect the position on properties at the end of  March 2008, all those that are marked RyF are either unsold or not completed.