Peter and Theresa

Hi all.

Reserved Azucena on R4 in April. 30% due end of May.

My experiences so far.

(1) When in San Jose main office i enthusiastically informed them i was sold on the development but  i might wait until the next phase was released which would suit my timescale better and i would also have a greater number of propertys to choose from. I was told quite boldly the price for the next phase would rise by Euro 20,000. This information as you can imagine prompted me to reserve on R4.

(2) Also in main office the completion date i was originally given for R4 was May 2008 ! My reply was laughter which led to their reply which was Dec 2008 which i felt was reasonable.

(3) In sales office on site i asked for approx completion dates for first golf coarse, supermarket, restaurant and bar. I was informed end of 2008.

I have a written contract with completion date of R4, no problem. I have requested through my agent documented confirmation of price rise on next phase of Azucenas and completion dates of golf coarse etc. Agents unofficial comment is ( no chance). In my opinion my buying decision was partly based on verbal information from San Jose and do not see a problem in them documenting this information.

This infomation is just to give you a bit of background to my personal situation.

The main question is would you in my position knowing what you now know from personel experience and from reading forums etc complete the purchase or run away ?

PS running away does not rule out possibly buying at SADM at a later date.

All answers gratefully recieved

Ken.

Wherever you are thinking of buying, especially off plan, the main thing is not location, location, location, but research, research, research.

Sit back, wait, IF, there is nothing available on this development, cough, cough, think you will find that there are many that offer the same superb golf courses and hotels.

And of course, the increase in price annually, due to demand and fully sold, or is it just a condition of banks and developers to lead purchasers to believe they are onto a good thing.

With say a 10% increase in a year, surprised the developer doesn't hold on to them, as they borrowing is probably at a much lower rate.

Why don't they develop out, sit back for a year and make another 5% or so?

Hi Ken.

I do see your point about running away and maybe still buy at a later date. SJ have got their first license and are begining to build, although slowly, and the complex almost certainly will take place, unlike maybe Albatera. If you are like us and some other people and CAN wait and are prepared to wait, it would be better to buy now as prices will almost certainly go up, at least for the foreseeable future. Nobody yet has pointed out any other 2 bedroomed houses at 89 sm, inland, at remotely similar prices as the Azucena. Jumilla properties really are great value for money, by and large. Thats my thoughts on the matter for what they are worth. Good luck in whatever you do anyway, Ken.

                 Bob. 

You say SJ have got their first license and are begining to build, perhaps you could confirm if they have the licences to build all the proposed units on the site, or just some?

Then " the complex almost certainly will take place, unlike maybe Albatera". OK, can only assume that you may have had assurances that a scheme which may take many years, will be completed in its entirety, but if it were my money I wouldn't like the "almost".

"If you are like us and some other people and CAN wait and are prepared to wait, it would be better to buy now as prices will almost certainly go up, at least for the foreseeable future."  OK, your source of information regarding increased property prices differs from the media and financial press report and predictions. Remember, Spain has just off-loaded a chunk of its gold reserves. Why?

"Jumilla properties really are great value for money, by and large. " May be so and if you do end up getting what you paid for. Also take into the account that if you have to wait say 3 years and have put down a deposit of 30.000 at present you would be losing say 5% interest on your money. Result = 4728 to be added to cost of property. Just hope that the capital growth if over 5% which at present is highly unlikely.

This applies not only on this development.

Worth a read
http://uk.reuters.com/article/businessNews/idUKL0554677820070509?rpc=401&

This message was last edited by alm on 5/17/2007.

Thanks for reply Bob, had hoped for a few more.

Thanks for reply alm but don't quite know what your point is. We can only speculate about future valuations but people who have invested so far seem to have done ok.

As far as i am aware the first Azucenas were released in 2003 priced at E105,000 on which i presume they would pay approx  E26,250 stage payment.

The sale price is now E132,000 and shortly to raise to E135,000.

I am in no way a financial wizard but they seem to have potentialy made E30,000 after investing E26,500 for 4 years.

I'm sure i will be over simplifying it but it sounds good to me.

Ken.

NOTHING IS GUARANTEE IN LIFE    BUT IM STICKING WITH MY DEPOSIT ON MY PROPERTY, ITS ALOT MORE EXCITING WATCHING  YOUR INVESTMENT MATERIALISE  (AS IT  MOST CERTAINLY WILL),  THAN TO LOOK AT A BANK STATEMENT AND THEN PAY TAX ON YOUR INTEREST.

Hi Alm.

Thank you for your indepth response. I did say that they were only MY thoughts on the matter. I did not say that i knew all the answers or even that i was correct in my assumptions. Only that they were "MY" thoughts!

Maybe S.J. wont get all the licenses and the place will end up only half built and a ghost town. Maybe prices will stagnate. What i am talking about is taking a calculated risk and i am prepared to wait. If it all falls flat, at least i have a bank guarantee covering my 30,000 Euros, and have had for nearly 3 years now. Since i bought my Azucena in the first 6 months of its release at the first price released of 105,000 Euros, i am quite happy, especially as i am not in any real hurry at the moment. 

Yes Alm you are right i have lost 3 years interest on my deposit, but i would have lost that whichever OFF plan company i bought from, as they all have  similar problems with obtaining licenses etc. etc. etc. They are all the same in that respect, so S.Js prices are still much better, whichever way you slice it.

Finally, if anyone does not want to wait for a property, or does not want to lose interest on their deposit, or does not want to take a small risk, then they should NOT buy OFF plan, anywhere, but of course they wont get the better prices.

For all those positive buyers, remember the old saying. Rome was not built in a day. That statement should bring a criptic reply from somewhere. Ha Ha.   Cheers.  Bob.

Hi All

Wish we had first seen SADM when you did Bob!   However we still feel we have a bargain, and are hanging in there with fingers and everything else crossed!  San Jose have been around for a long while, they have a good reputation, and the houses are bigger than other ones we have seen that cost a lot more.  We love the setting and even if the development is not as big as planned, we are still close to Jumilla and all it has to offer.  We have checked out the supermercados in Jumilla and they do home delivery for just over 4 euros, so if there isn't one on site and like us you don't drive, you don't have to worry about your shopping.  There are lots of bars and restaurants in Jumilla too, and SADM is also reasonably close to Yecla and Murcia. 

Please let's have lots of positive vibes!

Sue

Hi Sue.

Nice to hear someone positive and in good spirits and you are right that whatever stage one has bought from S.J., they have got a bargain compared with most other developers. I also happen to think that Jumilla is local and a nice town and the area as a whole with its local villages and monestary will be a nice place to settle down. I dont think the estimated original size of the complex of 6,500000 sm, taking approx. 7 years to complete will happen and in fact i at least hope it wont and that it will be much smaller. Either way it should be nice.

     Bob. 

Thinking about it you are all correct, it is a wonderful investment, all the agents, reps, the developer and possibly the lawyer they advise, all say it's a good investment with guaranteed growth.

Inflation loss of interest, risk, will the project be finished, will it have these superb golf courses, how silly I have been to doubt. Has such a collapse happened anywhere on the Costa in the last few years?

Have a bank guarantee, of course, if things go wrong they will pay out without question, plus interest?

"San Jose have been around for a long while, they have a good reputation,". Ummmm, RR, Bond !! Both with reputations and established.

Alm.  You said in your previous message and i quote: " If it were my money i would'nt like the almost". Can i take it then that you have not bought from S.J.??? In which case what are you doing on this forum with your negative messages???

Are you in fact one of those people some months ago that just go from forum to forum trying to cause arguments??? I THINK SO. It looks like you are back.

THIS WILL BE THE LAST TIME I WILL COMMUNICATE WITH YOU.

         Bob.

P.S.  Others be warned.

Hawkings, Suemac& Malc,

Just ignore the continual negative comment by ALM. He was banned from this forum by EOS a few months ago. He was also banned from the ALManzora Country Club forum by EOS about a year ago. On that forum he used the name PICKLE.( all his comments are still there to be seen).  I can only think he's had a problem maybe with a developer in the past and is now trying to disrupt and upset as many other  forums as possible. He obviously hasn't brought on SADM so I ask the EOS team to remove him again!  

Thanks  Taxiparrots, i thought i was right. Makes a change for me. Ha Ha.

Everyone should get the message now.            Bob.

Hawkings, Suemac& Malc, If you wish, please ignore any comments I make and note that they are not meant to offend, but give an other side of the coin opinion. But also please ignore the false statements made "He was also banned from the ALManzora Country Club forum by EOS about a year ago"

I have never been onto any forum relating to Almanzora Country Club and don't even know where it is.

PLEASE MODERATOR, if you choose to censor this, please do not remove my comment regarding Almanzora Country Club, if you agree to fact being shown on this forum.

It seems that some people consider they can make false allegations whenever they feel like.

For the record, never had a problem with a developer, don't have a problem with a developer, never bought off plan, will not be buying on SADM. Does that mean I shouldn't have experience on fubding, acquisitions and investments?

Do i take it i have not been told to ignore alm for any specific reason.

Ken

Hi all,

I must say I agree to an extent with you all,  although I also must admit to getting a little bit twitchy now and I also don't understand why ALM is even on this forum unless he has some interest in SADM that we don't know about. I must make one other point though and it is regarding the Almanzora Country Club. I too have been banned from their forum as I believe most right minded people were. I do feel sorry for most of the people who have bought there however.  I must also say that I think if you look at the situation over there then you will see that I and the other "trouble makers" were proved right on that occaison. (no that doesn't make me happy I lost money on this) I was also attacked verbally on their EOS site for pointing people in the direction of SADM. Hope I don't live to regret that one .

Ian

Hi Alm and others

I don't have any problems with people pointing out potential problems, I think it is sensible to be aware that things can and do go wrong, however let us remember all the developments that have gone through successfully, even if things took longer than anticipated.  We all have to make up our own minds.  I prefer to stay optimistic and hope that we don't need our bank guarantees!  If SADM is a bit smaller than the original plans, I don't mind at all.  I still think it has the potential to be a fantastic place to live, so let's keep on hoping!

Sye

Hi All,

I agree with the positive people on this forum, if you are looking for a new life in the sun, where should you go.  Spain may have it problems but it's local (3-4) hrs, and the family can visit easily for little cost.

The more we learn from the people living there and on the forums, the easer it is for us. no on HAS to go in blind now so decide for yourself.  I first posted on this forum about 2 months ago, and I was happy to find it.  It gave me the insite of life and the system in spain.  So thanks for posting and thanks to EOS.

Life is a gamble, lets cut the cards if you loose give me 30,000,  if i loose you get the money.  Any takers, apart from the high rollers?

I have checked and will take the gamble (small as it is), get the guarantees and protect yourself.  Look back on my earlier postings there is a lot of things covered.

You can put 30-40k in a bank or building society arter 3-4years interest, less tax plus inflation you will only be even.  In prorerty your money is in a safe acount and the value due to inflation and spiraling cost may be 30-40k, no tax.

You can retire or down size, live on the British coast in a 1-2 bed flat for £120,000.  Pay the TAXES and live in the dark and rain.  It.s your choice doers do and thinkers dont.

It has beem mentioned to me that people involved in SADAM are posting on these sites as buyer to sway opinions and influence buyers.  Idoubt it and I have nothing to do with them.  All of us cannot be wrong it will be the place to go in MY opinion.

Recardo