View from the Foothills of France

Some personal views on living, working,
bringing up family and making the dream happen in the most beautiful region of France. View from the Foothills of France also includes some personal and professional thoughts and tips on finding and buying the perfect property in the Ariège and Haute Garonne regions.

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House-hunting tips from the experts

Yoga centre

Here are five house hunting tips from my colleagues in The French Property Finders network:

1. The internet is a handy research tool and a place to begin but there is no substitute for getting out there and viewing houses – lots of houses. Usually our property finders will view up to 80 houses before narrowing down to a short-lit of about eight. In my experience, all those hours trawling property sites on the internet so often turn out to be a waste of time as, more often than not, the houses shown are no longer available (sometimes they never were) or are pictured carefully cropped so as to hide the noisy road, railway line or sewage farm. It is very easy to idle away many hours of time you haven’t really got looking at houses that frankly are not going to suit your needs. In France there are no multiple listing sites so you will need to trawl through hundreds of sites to come up with a list of potential properties and then spend many more hours trying to persuade agents to return your calls or emails and arrange viewings. If you manage that, the likelihood is that 95% of the properties you make the trip to view will be nothing like their descriptions and photographs and you will have to start all over again which is fine if you have all the time in the world…

2. Estate agents – this is a method that works in many countries but France does things differently. It is not usual practice to turn up to agencies in France and get given a handful of property details that you can go and scout from the outside or arrange to view then and there. Here, an estate agent will expect you to make an appointment in advance, lasting half a day or longer and will then show you what they have for sale by driving you around to what may turn out to be a variety of unsuitable properties. Remember that the estate agent is there to sell you a house and it doesn’t matter which one; he gets paid just the same. No agent in France will tell you the exact location of a property and let you go and have a look yourself – they are too worried about being cut out of the deal and that is just not the way things work here. And don’t expect them to keep in touch with you once you have left their office either. Agents operate very differently here too; you won’t be given a handy map with the exact location of the property marked on it because agents are far too worried that they will be cut out of the sale so property details will only give a very vague location, often not even the name of the closest village. Plus most agents give out only the most basic information about each property; certainly no ‘to-scale’ floor plans, nor even many photos (again so as not to give away the location or because photos are more likely to put off potential buyers). Which means you really do need to view a large number of very unsuitable properties here before finding ‘the one’.

3. A professional on your side – The seller has the agent working for them, on their side. Property finders work exclusively for the buyer not the seller. They will spend weeks doing all the time-consuming research, write up detailed reports on each possible property, provide you with expert advice and keep your search on track (it’s very easy to get carried away), arrange viewings to fit in with your timings and advise you on each area and village when you view. And finally they will negotiate the deal for you, ensure that you buy the right property at the right price and in the right location and hold your hand throughout the buying process.

4. Private sales – buying privately can be an appealing route to take but it’s important that you understand the French property market first. 30% of people buy French property privately (entre particuliers). This rises even higher when you take just French buyers/sellers into account.  Websites like www.pap.fr or www.entreparticuliers.com are widely used. The most common reason people buy French property privately is to avoid estate agency fees. These vary between 5% and 10% depending on the the sale price.

5. Local knowledge and expertise – We are here, on the ground, tapped into the local property market with local knowledge and contacts knowing people, properties, prices and understanding what’s going on. Moreover, we know what the market is doing, where prices are going, what is good value and what is not.
Many think that we provide our services only to the super-wealthy.  Not true, our clients have budgets ranging from €100,000 Euros upwards and we find and secure for our clients any type of property from renovation projects to manoirs, barns to châteaux, holiday homes to businesses and everything in between. If you want the best choice of property for sale in France within your budget, then you need a property finder.

In an increasingly busy, competitive and international world, engaging a professional property buying agent to find your home in France is just good common sense and probably the best decision you will make this year if not ever.

Is there an optimum time of year to buy property?

winter pic

There is no doubt that the property market is a seasonal business here in France, just as in most countries, which begs the question, is there an optimum time to buy a house here and are there certain times that buyers should avoid?

According to the LPI (l’Observatoire de Les Professionnels de L’immobilier) of SeLoger.com, in France almost 45% of Compromis de Vente (exchange of contract) are signed between March and July with the peak in June and July (19%). Between September and November, 28% are signed with another peak in October (more than 10%). Which all means that there is a 50% difference in the number of signings between the peak months (July and October) and the quietest months (February, August, November and December). Winter tends to be a slow period because many buyers prefer to hibernate and put off house hunting until the Spring. In August many people are on holiday and the market slows again.

Even more interesting for potential buyers is that these peak periods do not necessarily correspond to the highest asking prices. So, for example, in October, a month of very high demand for property, prices are in fact 2% lower than other times of year. The explanation for this is apparently that, in October, there are the highest number of properties for sale on the market, hence greater competition for sellers to attract a buyer resulting in a corresponding drop in price.

At other periods however, quieter times in the property market do tend to result in lower accepted prices. The August drop in both sales and prices is interesting and I would guess exclusive to France (and southern European countries) where everyone is on holiday and many businesses, including estate agents and Notaires, shut up shop. So despite the fact that there are plenty of buyers in August – certainly it is a busy time of year for me – the sellers and marketeers/facilitators are not there. Also worth noting in the same study is that for the properties for sale at ‘petits prix’ (the lowest price properties), sales, viewings and prices are pretty much stable throughout the year.

In summary, according to the statistics, the best time of the year to buy a house is either when there are very few other people looking (winter and August) or in the months when there is the most property on the market (March-October). In both these periods, you have more bargaining power.

However, there are of course advantages and disadvantages to buying both when the market is busy and when it is slow. While you might get a better deal through the slow winter and holiday seasons, you will also have fewer houses to choose from so it might be harder to find your dream home. Likewise, in the peak months, negotiation may be harder and you might end up paying more but, if you lose one house, you will have more chance of finding something else equally as good.

Remember too that searching for and buying a house in France can be a long process so, although you may start looking in May, you could easily not complete on your house until December. Hence, although it is worth bearing in mind the statistics and fluctuations in the property market throughout the year, in the end you should stick to the schedule that suits you best – especially if you have a property finder on your side who knows what the prices should be and how to negotiate and get the very best deal for you whatever the time of year.

French property undervalued

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Astonishing how the property market can turn on a few pence (or centimes) but that is exactly what is happening right now in France where suddenly French property is looking distinctly undervalued.

A sure sign of this is that there has been a sudden resurgence in British buyers in the market because French houses are once again looking cheap to UK investors; in the last few weeks sterling has been making steady gains agains the Euro and it is currently at 1.30 Euros – £1, a rate not seen since 2008.

This has led to a sudden and very noticeable increase in enquires for property searches and to a surge in interest by British buyers for properties advertised for sale with many of the agents with whom I work. I am also seeing increased interest from potential American buyers who are enjoying an increasingly favourable dollar exchange rate.

On Thursday it looks like the Euro may well fall further against foreign currencies if QE is introduced by the European Bank and all the signs are that it is on the cards.

Combine this weakening of the Euro with the general fall in property prices across the board in France as well as the record low mortgage interest rates and there is no doubt that the French property market is currently a buyers market and a very attractive prospect for foreign investors.

So far, 2015 promises to offer exciting buying opportunities; your dream home just got a great deal more affordable. If you need help finding it, get in touch: nadia@foothillsoffrance.com

New Year, New Horizons

Winter sunshine in the Foothills

Winter sunshine in the Foothills

Happy 2015 to you all and I hope you were also lucky enough to be able to enjoy your Christmas Day apéritif outside in the sunshine and perhaps go for a snowy walk on Boxing Day followed by some excellent skiing in the days leading up to New Year. If not, perhaps you are living in the wrong part of the world…

It is always easy to take for granted where we live but I do find that winters out here really bring it home to me what a beautiful and blessed region of France we call home. Winters in the foothills tend to be predominantly sunny with lots of crisp, blue sky days and often warm enough for lunch outside, even in deep mid-winter. Because we are lucky enough to have views of snow-capped mountains at every turn, I know many people assume that this is a cold or even snow-bound part of France but this couldn’t be further from the truth. It is rare for us here in the foothills of the Pyrénées to have more than a smattering of snow each year and usually less than the UK. The mountains provide a protective barrier and we are about as far south as you can go in France before hitting Spain so, when the sun shines, it still has plenty of warmth even in winter.

Even better, however, we have the choice of either enjoying the view of snowy peaks from our sunny terrace or jumping in the car and, an hour later, be enjoying some first rate skiing in one of the many lovely and still relatively undiscovered and uncrowded ski resorts of the Pyrénées for half the price of skiing in the Alps. At the end of the day, we often drive back home and finish with a cup of tea in the garden in the afternoon sunshine before night falls and it’s time to enjoy proper winter evenings in front of the fire. To my mind, we really do have the best of both worlds.

So just because there is a view of the mountains from many of the properties for sale here in the southern Midi-Pyrénées, don’t be fooled into thinking that it must be a cold, mountain climate or you will be missing out on one of the most beautiful, unspoiled and truly special regions of France.

Happy New Year and may all your French property dreams come true in 2015.