“Miss, 39 years old, searches (only) for serious relation”
* the article was first published on the 4th of October 2010
Romanian Real Estate market, Autumn 2010
After the Second World War and the civil one that followed, Greece was a poor, destroyed country. Some Greek movies, comedies, were offering few moments of happiness to people. The most popular ones were describing / criticizing the society's habits, perceptions or prejudices.
In one of these movies the most popular Greek comedian was trying to help his sister get married (Greek brothers had to wait their sisters get married first and then they "had the right to" marry as well). She was around 45 – 46, looking like 50, with good manners and many other advantages but beauty was not one of them. She would need to find someone determined to be with her, appreciating her as companion for life. (Andat that time a woman "should be married until her 18 – 24 years").
"Miss, 39 years old…"
Some 55 years ago there was neither Facebook nor any other internet site in order to connect people, so they sat down in order to prepare the add for the newspaper. After careful thought, they decided that the best title to promote her was to write: "Miss, 39 years old, searches only for serious relation".
Unfortunately the result was not the expected one… Indeed men replied to the add and several meetings were scheduled. But as they were coming to her home, usually a young cousin or neighbor was welcoming them, until they would meet "the bride". Some of them thought that these ladies were "the reason of the visit", some others were very disappointed when they saw a lady looking older than 39 and they compared her with the (much) younger relatives or friends.
Was she so bad? No, she had plenty of qualities, but she didn't promote herself properly, making many mistakes. Lately in Romania we see too many people trying to promote properties but they do it in a way that usually confuses you…
Confusing promotions of properties
If you are an investor interested in Romania, either you want to buy an apartment, a land, a building or anything else, please try to focus on reality, avoiding the "titles":
- "Now the prices have collapsed, you will find everything for free". Yes, the prices have fallen a lot, but the good properties are not sold "for nothing".
- "The whole area / city / country is for sale, you will have plenty of options". Yes, most of the properties are out for sale, but the really good ones are few comparing to the bulk of bad offers.
- "There is a super opportunity, you will just have to solve a small problem and the profits will be great". This usually means that there is a property with questionable advantages and major problems to solve.
- "An apartment with big surface, located at an excellent area, with a very decent price". Despite the deduction of prices, there are still too many properties (especially apartments) whose prices are high, if we also calculate the cost of interior renovation. Not to mention other possible costs…
Romania is a very interesting country for investments and due to the growing problems (sadly), the interest will increase. Also, this winter and during 2011 we will enter in the phase of foreclosures, with more properties being out for sale at attractive prices. But in the same time, you should be more careful in order to spot the opportunity between the "excellent offers". There is no reason to be disappointed or frustrated, discovering problems before or after your investment, is it?
My company, MORE Real Estate Services, launched a special new service: Have you found some properties which you want to acquire? We come as your trustworthy consultants and study them, giving you a list with their advantages and disadvantages. We don't replace your Real Estate broker / consultant, we just receive by you the properties you chose and we present to you our honest opinion about them.
(This article was published in TAROM magazine and on the blog on 27.08.2010)