(And why we haven’t sold it yet!) Zenia Golf 1, La Zenia, Orihuela Costa, Alicante, Spain. The market in Spain is red hot right now. All our collaborators are sharing in the benefit of the Spanish property market headed back in the direction of the mid 2000s level. If a house is priced right anywhere around La Zenia, Cabo Roig, Playa Flamenca, Villamartin or any of the usual popular Costa Blanca areas, listed with the right agent (yes I mean Comaskey in La Zenia!) who know how to market it, it´ll sell and quickly. To sell the right houses in Spain these days is simple! We have a house in one of our favourite urbanisations in La Zenia, Zenia Golf 1 which is well below market price, overlooking the best family friendly swimming pool on the Orihuela Costa and yet despite listing it four months ago, we have not sold it! Firstly for those of you who do not know, Zenia Golf has been around for the past 15 years or so having been built by the Escudero brothers back in the day when space was important. It is a fantastically well finished property, semi detached, ground floor bedroom with a third bedroom included (free of charge). The Consum supermarket, Paddy’s Point Irish bar, La Zenia Beach, Cabo Roig strip and medical centre/church/school and half a dozen Spanish banks are all within walking distance. Jump in a car and a short spin will bring you to Villamartin golf course, Las Colinas Golf, Alicante and San Javier airports and cities such as Murcia and Cartagena. Both my sister’s family and sister in law’s family stayed in Zenia Golf for their summer holiday to Spain in 2013 and both have constantly booked to come back to the exact same house every year since – this is just the place to take your kids on holiday – plenty of shade, safe for children, enclosed community with lots of kids in the pool to entertain my nieces and nephews. The last property we sold there went for 165,000 euro and inferior properties have sold for well over 200,000 – this one, no 17 Zenia Golf is for sale at 145,000 euro. So, why has the best property in La Zenia not been sold? There are two reasons, one is the condition of the property and the other is the terms. The property is a repossession, having been taken over by Spain´s “bad bank” years ago. Unfortunately the property fell into bad repair and is unfurnished. Incredibly, when people see this one advertised at 145,000 euro and get quotes of between 10,000 to 20,000 to totally renovate it, the prospect of the work puts them off. People have paid 145,000 euro and more for apartments in the new development next to the Zenia Boulevard simply because they come ready to move into. Other buyers have spent 200,000 buying houses not as good as this one, because they are ready to walk into. Instead of buying Zenia Golf, doing it up then moving into a far superior Spanish home with an extra 20,000 euro in their pockets, buyers so often fail to see the value in a bit of a messy house! If that wasn’t bad enough, the terms of this purchase are not easy. A client needs to have cash ready to close the deal within two weeks, all transferred to a bank account where the Spanish bank can see the funds or they will not allow the deal to go through- problem is the deal could take two days, two weeks or two months to complete. We don’t know because the bank does not know! This can really spook a buyer despite our best efforts to explain that is how the bank repossession market often works in Spain. Buying a new development or even a resale on the Costa Blanca is a breeze compared to this one, but the rewards to whoever has the vision and the patience will be fantastic. So these days we are looking for a buyer who wants the perfect family home in La Zenia but can endure some bank style red tape and ignore a few dead spiders on the floor!! If you are that buyer, you need to arrange a viewing for Zenia Golf before you end up kicking yourself for not moving on it sooner! Please check out the brochure here – http://www.comaskey.com/heart-of-la-zenia-5989.html Contact Tracie in our Flores 1, office in La Zenia for more details.