Sunday, 1 May 2011

An Up And Coming Jewel In The Crown Of Europe - Turkey

By Harris Smith


The time has come to list your home for sale and it is decision making time with regards to the inclusions and exclusions in your listing contract. What are you willing to leave for the buyer? What must you take with you due to sentimental value?

Like its rich history, Turkey's terrain is also vast and varied. With stunning landscapes Turkey sits on the Anatolian peninsula, bordered by sea on three sides and mountains on the other, it is a country with world class natural wonders such as the 'Fairy Chimneys Rock Formation' in Cappadocia, to the uniquely mythical landscape of Pamukkale, a city blessed with incredible beauty formed by calcium deposits, which truly has to be seen to be believed. Its name translates as 'cotton castle' and this fits perfectly with the haunting limestone landscapes it describes.

Turkey borders eight other countries, Bulgaria, Greece, Georgia, Armenia, Azerbaijan, Iran, Iraq and Syria, and as such straddles the line between cultures and faiths with ease and subsequently has become over the last 20 years a leading holiday destination and a place to find quality property for sale to rival Europe's old guard, eg, France, Spain, Portugal and Italy. Secure in the knowledge that we are buying in a safe, friendly country, within a modern moderate culture and first class infrastructure.

Turkey is separated by seven geographical regions, but it is the Mediterranean and the Aegean regions that are the centre of the tourist industry and housing market. The Mediterranean occupies the southern coast line, home to such land marks as the Cilician Mountains, a rural area with beautiful mountains and incredible deserted beaches. Also the Cilician Plains, famed with biblical importance, this is Turkeys lowlands with the occasional rocky area, with ancient citadels and ruins found throughout. Hatay is an area that still retains its Middle Eastern flavor due to its proximity to the Middle East, well known for its rich culture and great food. A lake district full of wonderful natural lakes, large and small. Lycia, known as the 'Turquoise Coast' with clear waters lighting up its coastline, great for divers, swimmers and yachting, also with a large inland area of woodland, amazing ruins and awesome landscape. Pamphylia is one of the jewels in the crown of the Turkish tourist industry, on the Turkish Riviera with clear blue waters and long sandy beaches, mixed with great food and history this is a real winning combination for holiday makers and those looking to relocate.

I prefer that my sellers remove any items that they wish to take with them, before the home is listed. Out of buyer's sight, out of buyer's mind. The agreement of purchase and sale is for the house, not the chattels. I am in the house selling business, not the used appliance business. Many offer negotiations get tangled up with inclusions. When including chattels, make sure they are all in good working order or else make sure they are noted in the listing as in "as is" condition. Buyers today expect all chattels to be in good working order on the date of closing and you don't want to get a call from your lawyer the day after closing stating that the washing machine is leaking.

The first thing that should be noted is that Turkey has emerged very well from the global recession and at the heart of its well documented economic strength must be a country that offers genuine great value for money whilst also balancing its books well. These days it's important to know that if we are going to invest money in a country's bricks and mortar, that we understand it is the country's worth itself that gives value to our investment. With so many blue chip economies either going into or edging ever nearer to meltdown and receivership, it simply is not a given anymore that you are buying into a stable economy just because it once was. Here Turkey comes up trumps, unfettered by the over spending and over borrowing of Europe's old fat cats. It is an emerging economy, built up by real management and vision to succeed in competitive markets. How many of the worlds old power house economies would like to turn back the clock and stand where Turkey does today? More than a few for sure. As many of the worlds old powerhouse economies recede, Turkey, now in the EU is having a growth spurt.

If it is not, you may expect a call from your lawyer. It is important to leave your home in the same condition you would expect to find in your new home. Sometimes it is well worth hiring a maid service to do this job for you. Closing day is very stressful and it is well worth the money to have this chore taken care of.

Now on the bright side, unemployment is down and tourism, or at least the hotel occupancy rate, is up having hit a 3-year high. These are some key factors in the Greater Orlando area which has a tourist economy. The facts are that the month over month figures show that the number of sales are up as are the average and median sales prices. Also, the inventory has been reducing and in greater numbers as each month passes. The unfortunate item is that foreclosures and short sales still dominate the market, but this too shall change as well as we progress.




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