It has been very remiss of me over the last month or so but very few properties have been added onto the Valencia Property site. No excuses because if things are selling, as they are despite what you may read, then I need to replace the properties that have been sold with others that are equal or better deals.
Therefore in the next week I hope to get some more good property onto the site. Here's the problem though. Some people still have their head in the clouds. People constantly contact me to put their property onto the site but here is the transcript of a typical conversation last week.
"Hi There, Graham speaking"
"Hello I want to put my property onto your site can you come and take pictures?"
"Tell me more about it first. I don't just put anything onto the site and don't want to waste your time by giving you false hope that I can sell it"
"Well it's in La Pobla and is huge"
"How huge?"
"About 240m2 with a 423m2 plot"
"That's not really huge, is it detached?"
"No, it's a semi with four large bedrooms, three bathrooms... it's opposite the Consum supermarket" (At this point I know which houses they are)
"And what sort of price are you thinking about?" (I know the price I am thinking at this point because I know the houses and how much others in the area are going for)
"500,000 Euros"
"(At my end there is silence for a few seconds)"
"Of course it's a little negotiable"
"You are joking right?"
"Why?"
"Because even in 2007 that would have been a ridiculous price even if it were a Palace. Look send me photos if you like so I can at least take a look but there is no way I can envisage ever selling that at even close to that price. My personal opinion is that even at half that price you will have a problem because other properties in the area are around 200k asking price and they are not selling. Just send me photos."
"OK I will send them now, but mine is much better" (They always say that)
"Bye"
I am still waiting of course.
This conversation illustrates the unreal situation and expectations that a lot of Spanish owners were placed into. They are not really aware of the bigger picture outside their own little bubble. Obviously generally the owner of a house always values it higher than the buyer because they have so much invested into it, their memories, their family and most of all their money. However they need to realise what levels the market is at before even thinking about selling their property. Once they do a little comparative research and look into the current state of the market with its lack of mortgage options for Spanish buyers and lack of general liquidity they may actually get with it and value it correctly. Unfortunately many of them know my company mostly sells to foreigners so try to place all their eggs into that hopeful basket that the Russians or the Chinese will come and save them because they are buying everything. Not exactly true though that.
Meanwhile some people do get it. One property that has been put up on the site this week is down in Gandia and is an excellent place that just shouts out good value and quality living. Take a look at the link here or just click on the photo.
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