The Ultimate Homes Blog

When I first moved to Spain, ten Halloweens ago, there wasn’t a hint of fangs and strap-on crooked noses. But judging from the shelves in Carrefour and Toys R Us, Halloween is definitely creeping into Spanish culture. It seems that Halloween is becoming increasingly considered harmless fun rather than a satanic festival. In fact, for the first time, I have seen fliers and posters aimed at the Spanish rather than the expat community, promoting Halloween events. Like Carrefour, they have jumped on the Halloween bandwagon and are using it as an excuse to get the crowds in for a night. On the other hand, if you prefer to do the catholic thing, you could boycott dressing up as evil characters on Halloween and go to the cemetery instead on the 1st November. This is All Saint’s Day, a day of remembrance for loved ones that have passed away. I have two little one's who will be dressing as little witches tonight knocking on the doors within our urbanisation, begging for sweets and gifts. Re...

This property has just been reduced in price today to 140.000 Euros. An amazing price for a detached villa (needing reform it's true) in an area - Buenavista in Benissa Costa - where plots of land normally sell for more. Having visited the property on Friday with two expert renovators, they estimate that 60.000 Euros would turn the property into a palace. Who knows what the vendors will sell for in the end but prices like this in the Moraira / Benissa area just aren't the norm. More details here

After the turbulence in the financial markets of the past few weeks, many so-called experts have pushed out the timing of any housing recovery to 2010 or 2011. Some think it will take even longer. It is possible, however, that the world wide rescue packages will get us there sooner. Let us not forget that banks have been given vast sums of money by governements on the basis that they start to offer competitive mortgage terms once again. Whislt any turn around is not going to happen overnight, come 2009, the mortgage supply should be much better. If enough potential buyers then decide the worst of the shake-out in prices is over, confidence could begin to return gradually. There are a lot of “ifs” in that, for good reason. In the past few weeks we have seen the most dramatic financial developments in our lifetime. The hope has to be that the global storm is blowing itself out. One thing I can say is that we are busier now than we have been in months - viewings and offers are being made,...

Some of you may know that Polaris World will be opening their new 5* InterContinental Hotel at the La Torre Golf Resort shortly. They also announced that you can welcome in the New Year with none other than Woody Allen and his jazz band - without doubt this will be a memorable gala event with a special menu too. Tickets available if anyone is in the area!!

Always looking at new and innovative ways to help buyers and sellers come together, this coming Saturday we will be holding an open-house in the stunning surroundings of Sierra Cortina, Finestrat. This is a great 3 bedroom end-of-row townhouse located in a very desirable location and ready to move into, with all the furnishings included. All serious offers will be considered. See the photo slideshow here

Spain's largest bank, Banco Santander, has arrived at the higher reaches of the European banking league while working under a strict regulatory regime which could offer some lessons for Britain's beleaguered banking sector. For many years Santander has been a conservative, stolid operator suffocated by Spain's central bank. But the imposition of those rules has helped the bank avoid the worst of the credit crunch and left it as the fourth biggest mortgage lender in Britain. Based in the Cantabria region in the north of Spain, it grew from humble regional beginnings largely through trade routes and historic ties to Latin America, where it has built up a substantial business. By some estimates it has 10% of the Latin American market and many of the region's richest people as customers. In the early 1990s it avoided a banking crisis that forced Spain's central bank to rescue mortgage lender Banesto. Santander bought Banesto at a knock-down price and became a major inst...

In theory, slowing sales and the prospect of further weakness after the banking meltdown on Wall Street should mean it’s a buyer’s market at the moment. The reality though is a bit different. Mortgages are proving difficult to get so that enterprising bargain hunters are finding that although the time should be right for them, it is sometimes impossible to leap into action. Banks are rejecting those who do not have near-perfect credit or long credit histories. Buyers are finding that no matter how much they have for the down payment, they seem to need more. There are definitely buyers today that are being forced to either downsize the property that they want to buy or simply wait until they have the credit and cash to qualify for a mortgage today. And even when the perfect buyer comes along, with good credit, a sizable deposit to put down and a pre-approved mortgage (yes they are out there), we have had a vendor that has pulled out of a deal even after an increased offer (by more than ...