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Ireland, Florida, Spain,Bulgaria and on and on - thousands of Irish and other investors have lost far more money.
I'm one off them and until a few months ago I could not let go of a very large expensive house in Florida.
As my wife said - "are you expecting it to suddenly shoot up in price before you die ,or after? Life's short . Get what you can and pay off some of your other debts, instead of cost-cutting and moaning about how we can't afford this or that "
It's tough Sheridan. I reluctantly put mine on the market last month but I know I'll have to keep slashing the price until it sells.
If you have got a firm offer you're lucky compared to many who can't shift their overseas -or Irish - holiday homes.
Unless some clever poster can see a big turnaround in the Portugese property market in the next few years then get out now.
Wahaay -your post makes me feel slightly better. Yes, I see Florida ,and indeed most USA property inventory is down as ,thank goodness, are the number of foreclosures. I've set a price that's unattainable at present and will,indeed, hold my nerve until it gets that price.
And - if the Euro does collapse I suppose it's good to have a dollar asset
Talking about collapses - did you push the Greek idea any further?
Wahaay -your post makes me feel slightly better. Yes, I see Florida ,and indeed most USA property inventory is down as ,thank goodness, are the number of foreclosures. I've set a price that's unattainable at present and will,indeed, hold my nerve until it gets that price.
And - if the Euro does collapse I suppose it's good to have a dollar asset
Talking about collapses - did you push the Greek idea any further?
Just to add, you've not had a loss, you're one of the lucky ones. Anyone able to get out of Portugal with no loss is a winner.
Wahaay. just seen your post. I tend to look at computer increasingly less as my wife says it's turning me into a sad lonely old man.
Yes, there have been nibbles and the EA is a bit buggd that I'm refusing offers.
Am not sure what Grizzly is talking about regarding Florida properties continuing to fall because the figures show an increase in all sectors of the Florida property market.
I bought my place for $400k in 2005 -inc all furniture and fees.
Compared to most properties in Florida,(especially Orlando where my subdivision-estate- Windsor Hills is located) mine has not fallen too much..
Am getting offers around $350k but, being greedy, I resent paying 6% commission and other fees which means that an offer of 350k leaves ca. $320k in my hands.
As I'm getting $15k p.a. nett rent -after every last cost, fee and tax, I'm in no hurry,especially as I've got a guaranteed rental income agreement which involves not a second of my time.
Other owners of similar propErties (6bedroomed)are netting twice that amount but marketing their properties themselves on the internet and this involves a lot of time and effort.
Yes -one can buy 4 bedroomed houses for about $170k but on good subvisions (estates)like Windsor Hills they'd cost ca $300K. Just like anywhere the location, quality, reputation, securty ,facilities, etc all play a role in sales and rental prices.
It's always worth looking at realtor.com .Not only do they detail every property in USA for sale, they also show every recent sale with actual sales price -something soon ,but not presently, possible in ireland.
As I'm getting $15k p.a. nett rent -after every last cost, fee and tax, I'm in no hurry,especially as I've got a guaranteed rental income agreement which involves not a second of my time.
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How does that work Oldnick? Are you guaranteed the 15K no matter what?
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