Spanish mortgages 65% cheaper since 2007

The mortgage market is currently in a more moderate position. from their highs in 2007, the monthly mortgage payment has increased from 976 euros per month on average to 378 per month in the first half of 2014, record lows. according to a report tecnocasa and Pompeu Fabra University is another indicator is the ratio between moderate monthly fee, and income has gone from receiving more than 60% of salary to 24%, a percentage "ultraconservative"

Evolution of the monthly mortgage payment

The ratio between the monthly mortgage and monthly income of the mortgaged should represent between 30% and 35%, according to experts. before the explosion of the housing bubble this ratio exceeded 60% since 2009 but a sharp drop of nearly 20 percentage points in a semester is observed. tecnocasa as this gives that "banks abruptly began to apply the credit orthodoxy that should apply from the beginning"

Ratio between the monthly mortgage and monthly income of the mortgaged

On the other hand, the percentage of mortgage financing, is down 86%, highs in the second half of 2006, up to 67% of the appraised value of the home in the first half 2014 report tecnocasa and Pompeu Fabra University indicates that "a loan to value below 70% implies an extremely conservative attitude of banks as well as a clear attempt to reduce the risk in lending to these entities granted"

Regarding the terms of mortgages, the study concludes that since 2009 a marked to grant mortgages short trend. thus, for example, in the first half of 2009 the percentage of 40-year mortgages was 45%, while for the first half of 2013 this figure was only 8%, just half that in 2012 for the first half of 2014 this trend is even more pronounced because for that period only 2.2% of mortgages were granted him to 40 years, while 30-year mortgages accounted for 60%

Also noteworthy is the significant increase since the bursting of the mortgage bubble within 30 years. in the first half of 2014 they accounted for almost 37% of the total, while in 2008 barely exceeded 16%

Term evolution of mortgages granted

Can the tenant change the locks on her apartment to rent?

The tenant may change the locks of the apartment for rent

when a tenant to rent a new apartment moves always arises whether to change the lock, because it may happen that the previous tenants kept a set of keys. from api of Catalonia recommend changing to a matter of safety and tranquility. further indicate that the new tenant has every right to do so

This explains that the home is rented for use and enjoyment. in this sense, indicates that you can change the locks without permission and without informing the owner. otherwise, it is deemed appropriate and convenient let them know to maintain a positive relationship even more clear that it is not mandatory

if the lock is changed, another question that arises is whether to give a copy of the new keys. the answer lies in legislation. the Spanish Constitution states in Article 18.2 that the domicile is inviolable

so being rented flat the residence where you live, not the owner, if he decides to enter it without your permission, would be committing an offense of burglary. addition, Article 202 of the penal code states that the individual does not live in the dwelling can not be accessed without explicit consent. therefore, the owner has no right to demand a copy of the key to the new lock

in fact, if you're one of tenant rights, and probably most important, is that the owner can not access the property in any case. just at the time that the landlord is leaving the floor, and with prior permission of the lessee, can enter the house to check the status of it and make the necessary repairs. In addition, the tenant must give the keys to the landlord and the previous lock

Does the landlord can change the locks?

the landlord can not enter the dwelling without permission and for any reason. at the same time, you can not change the lock. "Is a completely illegal action that many homeowners incur when tenants fail to pay the rent receipt or made a blight on housing," stress from api of Catalonia

precisely based on this recurring reality, the law of leases has undergone some changes so that the owner does not see the need to "take the law into their own hands" and expect sufficiently effective legal tools to put solution to this awkward situation

Errors when selling a home for the first time

12 errors 'beginner' you usually make when selling a home for the first time

Today selling a home is a complex task that depends on many (and whimsical) factors. moreover, as no one is born knowing, it is normal the first time we face this daunting task commit some mistakes 'base' that will make the process to test our patience and our nerves

To avoid this already complex process, we have compiled the 12 errors 'beginner' you usually make when you sell a home for the first time:

. 1 - overvaluing your home: basics. not be put off by greed or sentimentality toward the house. must be objective. in a market with so much supply, put too high a price is such a mistake. study what the competition is doing and if you can, stand in the low band

. 2 - Not wanting to negotiate: the lack of flexibility can lead to disaster. the current situation makes it almost essential trading ponders offers. if they are too low, you make a counteroffer

. 3 - forget expenses of the sale of the house: although the majority of operating expenses are paid by the new owner, you have to pay capital gains, the cancellation of the mortgage (or cancellation charge if applicable) and any registration, tax liability, of community, of supplies ... you have until the date of sale

. 4 - make a weather forecast too optimistic: do not get your delusions, sell an apartment is a distance race. if at the time of the bubble houses lasted an average of 14 days on the market, today the average sale exceeds comfortably within the year

. 5 - choose the wrong time to market: the period of greatest interest in the sale of second-hand housing is its appearance on the market. avoid dates when people are absent or interested in other things, like Christmas, Easter ...

. 6 - lying in advertising: do you think someone will buy your house if you find you're dealing with a liar? if you say your house is 10 years old and 180 m2, and when they ask buyers find that scripture has bought 150 and 15 years ago, you can bet they will flee at full speed

. 7 - do not put the house for sale: save a few euros to avoid giving a coat of paint, mow the lawn or fix that leaky faucet could cause the prospective buyer see a lot of arrangements ahead and take back

8 - be confident. Tells you who the person asking you to visit your home and who you tell that Saturday is not possible because there will be, is not a friend of the alien that just wants to 'come' when you're not ? or as he samples the kitchen to the 'lady' does your companion do not desvalijará the office? use caution and control

9 - not to involve the whole family. Comes to visit and the kids have not only messy but the living are fighting and screaming while you try to explain the benefits of the heat pump. certain failure. should all collaborate

. 10 - be comfortable, if you have to delay or postpone your dinner an outlet for attending a visit, do it. every opportunity should be utilized to the maximum. take the time necessary to see how the deal evolves around you, and keeping track of your advertising: renew ads, respond to networks ...

. 11 - not taking into account the cost of an empty house: a study of insurance claims that the average rental price of having an empty house at 2,000 per year. therefore, it is best to terminate the basic supplies (electricity, water and gas) if you plan to stay more than a year without occupy the house. so, you'll save an average of 540 euros per year

. 12 - Operation Order someone Bad: if all this is too much for you or you do not live on the farm, do not let him into the wrong hands. one of the worst mistakes in selling an apartment is encargárselo to a friend, or some intermediary however unqualified. the best choice is a real estate agent: he knows the market, the procedures and the intricacies of this complex and important process

8 reasons to trust your rental property to a realtor

Friday, January 3rd,

Instruct an estate the process of finding a tenant for the apartment you want to rent out can save the owner time and work. For example, the real estate consultant about the price of rent, can make a more comprehensive selection, can arrange the collection of the monthly or manage rental insurance

What does a realtor in the process of renting a home?

- Search the tenant: the amount of people who are informed that this apartment is for rent is much higher than that see the ad in the street, and rent much earlier. the realtor has photos of the floor and makes a screen and the prospective tenant. if an individual is interested in seeing the floor are the property of those who are responsible to teach and not have to be outstanding to adjust schedule

- Select the tenant: query any database delinquent tenants requests and collects all the necessary to ensure that documentation is a solvent tenant. So asks a bank guarantee, payroll for the last three months, and checks that all this documentation is real

- Advisor on the rental price: Agencies know what you can ask for the rent of your apartment as well know the market

- Advisor on the rental agreement: although it seems a simple thing to do things right, a poorly written contract or not following the law can be a problem for the owner. Agencies are to date with the latest updates such as those contained in Measures Act Promoting Flexibility and Market Rental Housing which was adopted in June 2013

- Make the collection of the monthly payment if it is not done by bank transfer: this is long overdue in homes rented by students or by several people, each gets its share and then pay the full monthly payment on real estate

- Manages rental insurance to avoid and resolve situations of default

- Responsible of Payment of water bills, electricity, gas ... This option is very convenient if you want to terminate supplies to give as high supply companies charge

- Dissemination of flat for rent in media, internet and social networks the floor

Of course the downside is that this has a cost. In some communities the realtor only charges the landlord one month's fee plus VAT but can also charge in half each half to the landlord and the tenant half. other will charge the full monthly fee plus 21% VAT each, landlord and tenant

To buy a resale house, reformed vs to be reformed

To buy a flat 'reformed' may be the first step to achieve our dream home or an endless headache

It is difficult to find a resale home ready to move into without reform, however small. so, pulling posts and brick pickaxe, why not invest in a house 'to throw' and put it to our liking?

To buy a second-hand flat and reform it is an alternative that is gaining more and more followers against new developments. these are the PROs and CONs of opting for a house 'to reform'

PRO 

The price: it is always lower if the floor needs renovation. However, note that then have to add what they cost the works

A home to your liking: a reform can start from scratch and decide the distribution, materials and even some openings to the outside

Sustainable materials and facilities: the works are a good time to introduce sustainability criteria in materials and facilities to help save water and electricity. the house will be more environmentally friendly but also more economical

Subsidies: in many cases, reforms of houses or buildings have public support

Taxes: taxes likely to buy a flat resale are lower than for a new home because they are calculated on the value of the property and not on the value of writing

CON

Headache: any work is a pain. before closing a transaction for the sale of a floor to reform, it is advisable to seek counseling to find out the real potential of the home and avoid surprises

Reform cost: before opt for a house 'reform' is important to consult several professionals on the cost of the work or pay more than planned

Permits and fees: to make structural reforms have to ask permission to the homeowners and the city council or the competent administration. this will involve pay fees to perform the works

Current regulations: keep in mind that today, any property for sale or rent must have the energy certificate

Investment Property, what to repair on?

Surfing the web, we found a practical article about what is concerned on reparations in investment property. With a right point of view the journalist mesures interesting strategies depending of long rental properties or fix and flip homes:

When I buy houses I want a great deal.  I try to buy houses at least 20% below market value and that usually means the houses I buy are in pretty rough shape.  I spend a lot of money on when I repair investment property and it is very important what I do and don’t repair.  I fix and flip homes 10 to 15 homes a year and I also have 7 long-term rental properties.  I have a completely different strategy to repair investment property depending on if it is a fix and flip or rental property.

Keeping repair costs as low as possible, while still making homes nice is a key to my long-term rental strategy.  I detail my strategy in my complete guide to purchasing long-term rental properties.  I include articles on buying, selling, renting and detailed figures on my properties.

Differences when repairing fix and flip vs long-term rental properties

With my long-term rentals I tend to make fewer repairs than I do on the fix and flips.  I will still make the rental property look very nice and make sure it is safe, but I won’t do as many repairs as I would if I were to sell the home.  The reason I don’t fix as much on a rental property is because renters aren’t nearly as picky as buyers.  Most renters do not think of a house they rent as their property, they aren’t as concerned with the age of the mechanical systems or the finish details, because it is not their house.  If something breaks, the landlord will fix it, or at least should fix it.  I have found renters to be very nonchalant about light fixtures and paint color, where buyers are very picky about these items.  In rental property number 7 I left he brass fixtures in the home as an experiment to see if it would be hard to rent (we usually put in nice brushed bronze).  It rented right away and the renters did not even seem to notice the fixtures.

In a fix and flip we will always replace the fixtures and make sure the little things are perfect, because buyers want a home they are buying to be perfect.  The buyers won’t have a landlord to fix anything, they will have to the repairs themselves or pay someone.  A buyer will also most likely hire an inspector who will go through the entire house.  That inspector will find most items wrong with the home and buyers will often get scared off by an inspection that finds many things wrong.  We try to have as few items mentioned on the inspection as possible.  I know many fix and flippers who have an inspection done on their homes after they do repairs.  This allows them to make repairs the inspector finds before listing the home and to advertise the home as pre-inspected… more

How to sell Spanish real estate fast

Believe it or not you can sell your Spanish property in a matter of days. The key is to set the right price.

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A couple years ago a property selling e.g. in Mallorca for 500K was sold within 2 months, Nowadays the same property will not even sell at 450K, but might stand a change if its priced between 350-400 K.
Many investors and 2nd home owners who bought Spanish property and have to sell would like to close their eyes and wait until their nightmare is over. They are faced with the decision of having to sell their property at a loss.
Most of these investors would rather wait a little longer and see what happens. They might think about the recuperation of the US housing market and they desperately are focusing on the positive economic figures in Europe.
What these investors are disregarding is simple fact of Who in their right minds would want to buy a property which has been in the market since a long time and for the same selling price?. The chances of finding a buyer ar very very slim.

So here a couple tips when selling Spanish property.:

1) Sell at the right price
Try to be realistic when selling Spanish property. If your property is not selling its because of the price.
Lower the price of your property and you will be amased to see what the effects are.
2) Be sharp
When your property comes into the market invest heavly in promoting it. The fisrt couple of weeks are essential when trying to sell the property. The longer your property is in the market the less chances it has.
3) Compare prices
Check what similar properties are selling for and price your property in a competitive way.
4) Seek professional assistance
An estate agent will probably help you filtering potential buyers and curios not wanting to buy buyers.
5) Be calm
When showing a property to a potential buyer do not give him the sensation you desperately want to sell. Do not overly exagerate the positive points of the property.
6) Do not disregard offers
If someone makes you a valid offer, one that is within reason, do not disregard it or you might regret it later on.
7) Using social media and other property portals
Make sure the property is priced the same in all the media and with your estate agent/s.
Having different prices is suspicions and scares buyers off.
8) Using an attractive ad
Properties that do not have pictures do not sell. Aln make so provide good descriptions and if you can make a video presentation.
9) You sold your house, or maybe not.
Let say you found a buyer. Make sure is has the credit to buy it. Make sure he can get a mortgage.
Make sure that when a deposit is paid to in case the sell is canceled. Do not take the for sale sign off until the sell is completed.

InmoLaSirena Online Real Estate marketing your home!

The Real Estate market is changing. Now we are looking foward a global market, and It must be commanded by a good use of  IT resources. So we did focused our services making us pioneers in the field.
We do not make easy advertising on  medias. Rather, we professionalize the resources offered by these IT services, so we are able toprovide:

Inside InmoLaSirena.com  site you can publish for free. From there, you can choose some EXTRA emarketing services (Plans) that gives an online platform feding some +20 websites inside InmoLaSirena Team and +80 around the world, more than 100 websites at all:

- Through processes multipublication one property is published in +100 platforms

- Create a personal website for each property, which subsequently it integrates and disseminates in social networks
- Video presentation of the property on our  Youtube channel , and later released over other streaming platforms 
We apply professional eMarketing & SEO techniques in order to multiply your results, geting this way more effective visits ..

Question: Buy property in Spain get Citizenship ?

Hello,
I read an article that if I buy a home that costs about $200,000 U.S.D. I'll get automatic Spanish Permanent-Residency which I imagine will lead to Spanish citizenship after a few years even though I'm not European.
Is that true ??
$200,000 U.S.D. is a lot of money for one property, is it possible to buy a few properties that add-up to that amount and receive the same benefit ?


I don't know the amount in US dollars but it was 200.000euros and has now been reduced to 160.000 euros whatever that equates to in USD.
This has come into being because the Spanish governmentis desparate for money from abroad and Eu citizens have stopped flooding into Spain with the result that there are thousands of properties standing empty.
There will probably be some other conditions apart from purchasing property. You may find you need to prove that you have an income from outside Spain.
For example, Cyprus gives non Eu citizens residency if they buy a property for 300.000euros, can prove they have an income of at least 30.000euros per year and 5.000 for each dependant. They also have to deposit 30.000 in Cyprus bank which they must leave there for at least 3 years. All of this money must be proven to come from outside Cyprus.
I would imagine there will be similar conditions to getting residency in Spain if you are a non EU citizen although the amounts may be smaller.

eMarketing Solutions for Properties

InmoLaSirena brings you e-Marketing Solutions and Muti-advertisiment tools for your home. Multipublication is carried out thanks our multichannel platform. From InmoLaSirena.com +100 websites are replicated as online channels. We do eMarketing professional and personalized, creating a personnal website and a youtube video in our channel, promotion jobs and marketing on social networks. Posting Plans from $ 0 (free under the Basic Plan)

The Real Estate market is changing. Now we are looking foward a global market, and It must be commanded by a good use of  IT resources. So we did focused our services making us pioneers in the field.
We do not make easy advertising on  medias. Rather, we professionalize the resources offered by these IT services, so we are able toprovide:

Inside InmoLaSirena.com  site you can publish for free. From there, you can choose some EXTRA emarketing services (Plans) that gives an online platform feding some +20 websites inside InmoLaSirena Team and +80 around the world, more than 100 websites at all:

- Through processes multipublication one property is published in +100 platforms

- Create a personal website for each property, which subsequently it integrates and disseminates in social networks
- Video presentation of the property on our  Youtube channel , and later released over other streaming platforms 
We apply professional eMarketing & SEO techniques in order to multiply your results, geting this way more effective visits ..

Lovely detached house 400m from Beaches Costa del Sol

Reduced - Nice detached house in duplex. Just 10 minutes from Malaga city and 400 meters from the beach. The house has been renovated, has hardwood in living room and stairs to the lobby, other floors, walls and toilets, etc. are high standarts. Fireplace, 3 bedrooms, plus a 4th one converted into dressing room (with 5 closets design), wooden floor in distributor and stairs bedroom, kitchen and bathroom in travertine marble and ceramic 1ªs brands such as Porcelanosa, Venis and L'Antic, health rock brand design, tub-shower with whirlpool and brand new pipes. Double electric resistance heater. Sloping ceilings. Large windows, rustic solid wood doors. White lacquered kitchen interior color lined drawers and vaguetas rustproof aluminum alloy mate. The house has its own small garden around it. There are areas you can park without problems. Flight of stairs to access the house. Very sunny and quiet. The community fees are 240 euros per year.

Stunning contemporary villa located in Exclusive development in Rincon de la Victoria.

950 m2 built area on some 1500 m2 land, 6 bedrooms, 8 bathrooms, very good condition, a / c, cupboards, heating, garage, garden, several terraces, large cellar, Courtyard, charming Pool, french stlyle furnished.

A large private villa with lots of character and endless possibilities, overlooking the fairways of golf in Rincon de la Victoria. The house is built on two floors, the upper floor serving as the main house while the ground floor can be used for clients (guests) or a single bedroom suites with its own separate entrance for golfers throughout the year. The house is approached from a quiet street of urbanization and is less than 5 minutes drive from the main highway leading east coast and west of Almeria and Malaga. The airport is only 20 minutes drive, while the beach is just 10 minutes. The whole house has 15 rooms and 8 bathrooms, so the combination is endless. Fully landscaped outdoor area with lawn with flower beds, palm trees and many mature trees that provide shade, much needed. All the plot is fed by drip irrigation with external power and electricity points are illuminated at night. CCTV covers the entire house, pool and garden area and is linked to an external security company

Eastern Costa del Sol area

Let us introduce you to the most exclusive areas of Eastern Costa del Sol: Torre del Mar, Torrox, Nerja, Benajarafe, Chilches, Rincon de La Victoria, etc... through the finest luxury properties selection by InmoLaSirena.

Their outstanding location, high quality or distinctive features make them singular homes in the South of Spain. And these are the kind of properties which we consider will hold their value over time.

Understanding the Rental Terms

The rental contract should include:


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Date and place where contract is created and signed
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Details of the landlord
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Details of the tenant
*

Details of property being rented, including location, size and layout
*

Length of the rental term
*

Rent payable to landlord by tenant
*

Signature of both landlord and tenant



The rental term may be any length up to five years. When the agreed term is shorter, the tenant can extend the contract to last five years if they wish to do so. If they choose not to extend the term they must give at least one month's notice that they do wish to terminate the contract as agreed. After five years, the rental agreement can be further extended for terms of up to three years.

The tenant is required to pay rent to the landlord in exchange for living at the property. The rent can be negotiated by both parties, and will usually be paid in the last or the first week of the month. The landlord should send the tenant a receipt to show that the rent has been paid, in order to avoid any future disagreements. Once the initial rental term is over, the rent will typically be renegotiated to take increases in inflation into account. Some landlords will increase rent annually, after the initial rental term, in line with the Consumer Price Index (CPI).

Repairs on the property are the landlord's responsibility, and will typically be done once the rental term has come to an end. Should urgent repairs be necessary, the landlord must inform the tenant in advance that there will be building work; if this disruption lasts longer than twenty days the landlord must reduce the rent that month. The tenant can make small repairs, especially if these are needed to fix damage caused by general wear and tear. Should the tenant wish to make large-scale alterations to the property, they will need the landlord's consent.

Renting Property in Spain

In Spain it is more common to buy a home than to rent one, and for this reason there are relatively few properties available for rent in Spain compared to other European countries. The limited housing market can make it difficult to find a rental property that meets your expectations. Finding a property is yet more problematic for young people, the over sixty-fives and immigrants, many of whom tend to have only a limited budget for accommodation. In addition, the demand for properties in Spain has recently increased: house prices and rental costs have doubled, particularly in popular urban areas. It is difficult to find official government information on the property market, and there are few reliable details on the number of properties available and the current demand.

Spain currently welcomes thousands of immigrants each year. This creates a great demand for rental properties and in turn increases rental prices. It is becoming more and more common to stay in 'bedroom cities': small towns located near large cities where more properties are available and rent is more affordable.

Over the last decade, the Spanish property market has undergone several changes. It is becoming more and more common for people to purchase property, rather than to rent. In recent years there has been a boom in the real estate sector; as the demand for homes increases, more and more homes are constructed as a result. This has also led to a significant increase in house prices.

The housing boom has created many jobs and contributed to considerable economic growth in Spain. However, it has also resulted in heavy reliance on the construction market, and increased debt as more and more families take out mortgages. These facts threaten the likelihood that the housing surge will contribute to Spain's long-term economic stability. As a result, the government has begun to implement certain measures to make this situation sustainable, and avoid a repetition of the mortgage crisis in the United States and United Kingdom.

In some ways, a housing crisis is already expected; increasing house prices have resulted in a rise in the number of people falling into arrears on their mortgage and rental payments. Banks will no longer grant loans or mortgages to people who are at risk of failing to make repayments; as a result demand for housing has fallen, and house prices have fallen accordingly for the first time in years.

In Spain, rental prices vary according to the location of the property. There is a huge demand for property in Madrid and Barcelona and thus prices here are high. These are big cities offering many job opportunities, and lots of people choose to live here to find work, although rental costs will constitute a large part of their expenses. Many other people choose to move to villages or small towns near to big cities which offer more affordable properties. These are known as 'ciudades dormitorio': literally, 'bedroom cities'.

To tackle the problem of price increases, some provinces have enacted laws that force the owner to rent out their property if it has not been occupied for more than two years. The government can request that the property be put on the market, or demand that the owner rent it out if there is a risk that the property will fall into ruin.

Also you can check-out our large porttafolio in Rental Properties around Malaga y La Axarquia