"Homes under the hammer" Spanish adventure CAMPOSOL

We purchased a home on Camposol, Murcia, in September 2013 and have just sold it for 30,000 euros MORE than we paid !. It was a house which had been left empty for a few years and in need of a few extras and a bit of TLC. Once updated furnished and made ready the rentals flowed in and we enjoyed about three years with holdays for ourselves and family and friends. The buying process was a lot more involved than in the UK with the "notary day" etc and it took a while to get all the right paperwork in place but we managed OK and had a great adventure and fun. In the end we decided that Spain wasnt for us and sold the house a few days after it was advertised by the Agent. The secret was to buy the worst house in the best street and then do it up. Lots of paint and added extras and second hand furniture from the charity shops.   If you are looking for an adventure then you could find Camposol has lots of property at amazing prices . Make sure you look at the two estates nearer to the commercial centres and you cant go wrong. Only down side is the euro is rubbish v the pound so we are keeping the funds in Spain until rates might improve. The selling process was completly handled by Costa Calida Services on Camposol A . They were given power of attorney to close our accounts and handle all the legal stuff. Dismiss the negative posts about Camposol and go and look for yourself. !!  google  ....rightmove camposol

If you are thinking of doing the same then this is the place to start looking, just  like "Homes under the hammer"  with you being the only bidder.  

aliton

great to hear good news story

Most of the property's that are up for sale on Camposol have sold sign's up especially the bigger property's with swimming pool's.if your looking for a two bedroom villa you can buy one on Camposol for around 40'000eu that works out at approximately £30'000 that's cheaper than a mobile home (caravan) in the UK.

This message was last edited by windtalker on 04/10/2015.

heard someone paid 29000€ for a 2 bed terraced bungalow last year

Question

If say someone bought a property for €100,000 with an 80% mortgage and found that it's current value is nearer to €50,000, can they simply hand the keys to the bank and walk away without any recourse? After all the bank valued the property and were happy to lend €80,000 on it, it's they who are the experts, not the borrower, it can't be that simple, or can it?  

Can anyone recommend a good estate agent for camposol who deals in long term rentals as well please?

The banks are only money shops, they are not house valuers, they only, should do, lend money on the basis that yes the house might have been valued at x amount but the banks should only be interested in the amount they lend out to the amount they could get back if reposed. 

A bank is not an expert on anything, a fact that has been proven time and time again.

Sure many banks got caught out due to the vast amount of houses that dropped much lower then anyone expected or would care to see.

If it were that simple that you could walk away from your house loan with no come backs then the people who are struggling to sell due to the lack of funds would do the simple thing.

You took out a contract to borrow money, you either pay it back or sort the problem out one way or the other thats life.

Many items taken out via a loan drop in value, at least with a house as time has shown they do, or can, rise again, sooner or later.

Ref Above question "Can anyone recommend a good estate agent for camposol who deals in long term rentals as well please?"

Suggest you could try.... Another World Property who are based at Camposol commercial centre B"

Google "Another World Rentals.. Camposol".

They seem to have the lions share of rental property for long term lets or holidays.

The Spanish banks works exactly the same way as the UK banks they will take the keys back off you put you're house up for auction and sell it to to highest bidder and what ever the short fall is you will still have to pay when you bought the house for 80,000 that was the value on that day ,2or3 years down the line it is now worth 50,000 this is not the banks fault.

Please not this thread has been re instated at the request of  a number of people .

To all those who were edited out shame.

Are your dates correct, Aliton?  You say you bought your place on Camposol in September 2013 and enjoyed about 3 years of holidays there....

 Well done, by the way.  You should be applauded for your hard work and the fact that you smartened up one of the many tired-looking properties on Camposol. When we walked around there a couple of days ago, we spotted a few properties in the throes of being brought back-to-life, cement mixers in full throttle. What a difference those smart-looking properties make to the look of the place!  The site must have looked wonderful when the properties were first finished and we're guessing it will be back to its former glory at some point in the future.  The whole site is in a beautiful area with everything you might need for a holiday without having to stray too far if you just want to relax.  Of course, we're guessing Campasol isn't suitable for everyone for full-time living (where is?), particularly if you want to emerge yourself in Spanish life.  But it's perfect for retirees who want to spend their pension in the sun without the need to learn more than a little Spanish...ie; a real 'Home from Home'.

Just returned from a long weekend celebrating a friends 50th birthday at his villa in La Manga. Whilst there we had reason to be near Camposol so took the opportunity to visit since we had seen so much about it on EoS.

Seemed well kept properties on small plots suitable for retirement or holiday get aways. There seems to have been some land slips at some time as the roads need a lot of work to level. There was certaintly evidence of land movement on some the properties across the slab bridge. Some had large cracks in the surrounding walls and there was a whole row of 'shed' like properties that were in a bad state.

The advertised hotel seems to be a ghost structure. The shopping centre looks like a warehouse development and the eateries serve low cost comfort food. the golf course looked OK although we saw no one using it when we drove by.

We did stop in Puerto Mazzaron for an evening meal and had really good fresh fish dinner. In the local area this seems a better place to have a retirement or holiday home.

Just our view from a 2-3 hour visit. Driving round and talking to people we saw walking their dogs or putting the rubbish out.

Rossetti

That seems a reasonable assessment to me Rossetti.  It's a massive development and I reckon most people can find what they want - there are lots of good sized villas there too.  As you say Puerto de Mazarron is the place to be for eating out - absolutely fantastic choice of restaurants and well priced compared to other parts of Spain.

Massa the so called builders of Camposol got kicked off the site by the Mazarron council two years ago due to not finishing the building works to the council satisfaction ,the Mazarron council took over the management of Camposol immediately,  carrying out road repairs /pavement repairs/street lighting/road sweeping /day to day rubbish collecting /cleaning drains the list of services that we have on tap based on Camposol are endless this is why property is selling on Camposol l have owned a Villa on Camposol for 9 years and have noticed a remarkable turn around on the site with Lots and Lot's of sold signs up on Villas the larger Villa's are selling very quickly so don't believe the trash that gets on hear that have never been anywhere near Camposol that gets second hand  misguided information from free new papers come and grab a bargain.

Windtaker,

Do you know if anything is happening with the new Mayor?  

The last I heard was that her attempts to do a U turn and walk away from the deal agreed with the old Mayor had been overruled.  Is that correct please?

I am neither trash nor have written trash about Camposol. An urbanisation  that I know well.  

Living in the sun, on a scruffy urbanisation ( as was my opinion of sector B ) with a multitude of Brits, where even the odd Spaniard speaks perfect English, and with full blown entertainment everyday, all day, just doesn't float my boat.  

But for those who boat it floats it is as near to utopia as I have ever experienced or will be IF it ever gets legalised.

Re Rossetti `s ...3 hour tour.. of camposol apparantly qualifying to prduce a resort review. Its pointless making an assessment when all you did was drive bye. Dont judge a book by the cover applies in this situation . Out of an area of 5000 houses with four separate communities and sectors you refer to land slip and  one area which had problems due to illegal building by the greedy construction company . 98% of the houses on this resort are fairly well built , I could go past any McDonalds and say the outside car park was... full of litter, some sick in the car park, the area was rough so  "dont go there" > The proof of the pudding is going in to shop to get a meal and then judging it . The same applies to Camposol and your flying visit should be considered with caution . Like Mamite,,Camposol is not for everyone but neither is La manga. I say again.... you need to spend some time renting there before making an assessment. Look at the lovely villas on rightmove 3000 have private swimming pools... and see the prices !!!

Dont knock an area when you dont live there.

Floella I wonder if you have been to the part of the Camposol Hills wher my villa is it is 5 klm it is a large villa 3mtr walls surrounding the detached 3 bed 3 bathroom and 10x3 mtr swimming pool from B sector commercial centre that you are referring to,I frequently use the superb shopping facility that is on offer and often take in the free entertainment that on offer ,when I have read previous post from you you seem to have a intence hatred for your fellow countrymen I have assumed you are a Brit and by the sounds of it one foot in the grave all I can say to that is when it is time for me to go I will be kicking and screaming albeit to the terrific free live entertainment that Camposol has to offer.

Oh, windtalker, why is it presumed I have an intense dislike of my fellow countryman , or, more laughable, someone with one foot in the grave, just because I don't want to live on an urbanisation with entertainment on tap. At the time I posted on this site stating it reminded me of a (Butlins )holiday camp. Nothing wrong with that for people who want that life. Just not for me or mine.

Where I live we are all independent folk of various nationalities ( and surprisingly lots of Brits ) who desired to live amongst the indigenous folk.  We live on plots between 3 and  5000sq.m  but have all the entertainment available to us that is in Campoland. Difference being we sometimes have to travel a few miles. 

Have no idea if I went near your villa. Walked around the Thursday market and all the local shops, including the Chinese one. Went into a couple of nearby bars for coffee. Drove in the area of the golf club( sector D) ? And had a fish and chip luncheon in the paved precinct whilst watching the world go by.

Just hope one day the council legalise the properties.

Windtalker, why is it necessary to call people names just because they don't agree with your views? We are all different, thank goodness. Some love living on camposol, others wouldn't touch it with a barge pole.......so what? The main thing is that you are happy there and not what other think about it. There are issues with the place and you are lucky if they don't impact on your life. You don't have to justify your reasons for buying there, just get on with enjoying your time in the sun.