Hi,

As I write this the sun is out, the evenings are still long and warm and the barbeque is making its annual appearance. Despite those dreaded 2 words “credit crunch” there is much to be thankful for and France remains a country where you can snap up a bargain, let this not be forgotten!

We as a nation are probably naturally cautious and the weak pound has only served to make some of us perhaps more nervous about committing to what has possibly been a long sought after dream: to buy a lovely house in France. But there are some very positive signs out there which, once you recognise and understand them, will mean that your dream may be something very well worthwhile pursuing here and now rather than waiting to “see what happens”.

In this July newsletter we have some very good news for you: you will hear from our very own Charles Purdy on how you can safeguard your hard earned money and get yourself the very best exchange rate possible. Then I have the very latest hot news on the French property market “straight from the horse’s mouth” from one of our trusty and recommended agents (it’s pretty good….!) Further I look into the positive advantages of living in France whether permanently or as a second home. Finally you will see this month’s lovely property feature: a really pretty stone cottage totally renovated and nestling in the heart of the Dordogne for less than £170,000!

Talking of feeling positive, I have had some truly lovely emails from some of my readers thanking me for putting them in touch with some great contacts. It is always marvellous to receive such positive feedback. If you would like some advice or help on your own individual plans for France, please do feel free to email or call me on the number below.

You might also like to take a look at our bumper France Buying Guide which has a wealth of information on buying in France and which many readers treat as their “French bible”! You can get your copy here: http://www.francebuyingguide.com/Guide.htm

If you know roughly what you want, where and when, why not let me do the legwork for you? I have a house in France and remember only too well what it is like. You have an idea of what you are looking for but no idea of where to start and, let’s face it, the internet can be a bit of a minefield sometimes, helpful although it is at others! You could do a lot worse than fill out my property and resource form. I will respond immediately and put you in touch with the best people to get you on your way. Just click on: http://www.francebuyingguide.com/property.htm

I am spending a few days in Montjoi this month and, as always, shall fill you in on what is happening down in the lovely Tarn et Garonne department of the Midi-Pyrenees in next month’s newsletter.

As always, keep your comments, queries and letters coming. I read every one and am always happy to talk about your France plans with you. Please feel free to call me or email me whenever the time is right for you.

Finally, happy holidays to you, enjoy the long days and warm nights and look forward to next time.

Kind regards as always,

Alexis
mailto:Alexis@overseasguidescompany.com
France Buying Guide
The Overseas Guides Company Ltd
0207 898 0549 (call me!)

How is the French property market really faring?

I asked one of our recommended agents to comment on this and here is what he had to say:

“It is undeniable that the recent “credit crunch” has affected many of the property markets across the globe. It is now almost taken for granted that property prices are going to continue to fall throughout 2008 in the United States, United Kingdom and Spain. The question a lot of property investors are now asking is where is the best place to invest, why is France a safer market and why does it not have the same problems? Is it all "doom and gloom" in France?

Certainly not...and let us tell you why! Firstly, and perhaps most importantly, French banks have always been more prudent with their lending. Up to the beginning of this year French banks would only lend to clients who put down a minimum 20% deposit. French mortgage rules also means that lenders also only lend to clients whose outgoings do NOT exceed a third of their income. This prudence means that French lenders are not experiencing the same problems as banks in the US and UK.

Secondly, it is estimated that France needs to build 500,000 houses a year to meet demand. Last year only 435,000 houses were built, but that figure is likely to fall this year as construction companies struggle with rising costs. In France there is not the same problem of over-supply as there is in Spain, for example.

Thirdly, as clients need to budget for an extra 10% on top of the property price to cover transaction fees, there has always been less speculative buying in France from those trying to make a "quick buck". France is a far more robust market than other countries and recent figures from FNAIM, the largest body of French estate agents, reported that overall property prices in France rose 3.1% in the first quarter of 2008. This may well not continue through the year but it is certain that the price falls being seen in the UK and Ireland will not be replicated in France.

That said, many properties which were previously being marketed at higher prices are now coming down and many of our clients are getting some fantastic bargains!

We are already seeing in 2008 many purchasers taking out variable rate mortgages in France, in Euros, rather than pay for the property outright in sterling. For those clients with an existing income, this is a great solution for riding out the currency fluctuations until the pound regains strength. To conclude, despite what you read in the press and see on the television, it is not all bad news! Whether you are looking for a cute holiday cottage, a beautiful family home or investment property, then France is the place to buy. France has long been regarded as one of the safest places to buy and great for a long-term investment.”

So there you have it: a breath of fresh air perhaps to blow away the credit crunch cobwebs!

Buying a property overseas needs careful consideration and planning and this is where we at the Overseas Guides Company come in. We aim to do your homework for you and put you in touch with some fantastic agents such as the one above or other professionals. You can rest assured you will be well looked after.

In a rush, no time to scour the internet? Just pop me an email and you will hear back from me personally:

mailto:Alexis@overseasguidescompany.com

The UK house price gloom and doom….

by Smart Currency’s Charles Purdy.

We are all aware that UK house prices are falling. How far this fall will be is the question. My feeling is that there was a need for sanity to return to the UK housing market as prices all over the country have increased out off all proportion over the last few years. But difficulty in selling a UK property is causing a problem for those who want to say good bye to Gordon Brown and head off for a happier life style elsewhere.

There are some positives in the current environment. More people are renting rather than buying and this means that a property in the right area will rent very quickly. Also prices elsewhere in the world are coming down. Spain for example is in a far worse situation with a much bigger drop in house prices - property bargains there are becoming more plentiful. And finally, would you prefer to hold a euro or sterling backed asset? My preference longer term would be a euro asset because here in the UK we have some very serious economic problems which, even though Euro land isn’t immune, means that sterling will have further downward pressure in the coming months and years.

So how can people still follow their dream? I would recommend talking to a range of experts. Some financial, such as Smart on currency and an IFA on financial planning, and others such as a property agents who are experts in the region you are interested in. The current climate means that you have to take your time, plan very carefully and listen to those who really know the market before acting. If done properly, you can still live your dream.

To read the latest currency update go to: http://www.FranceBuyingGuide.com/Currency240708.htm

Why overseas property buyers lose money...
...and how you can avoid it!

This 10-page educational report outlines:

• Case Study: When Property Buyer, Mr Reed, Purchased an Overseas Property, he Made Three Mistakes that Cost Him £10,256...learn how you can avoid them...
  
  
• How the Banks make HUGE profits from their long-standing unsuspecting customers
  
  
• Ways to safeguard yourself against adverse fluctuations in exchange rates (or in other words, helping you to keep your money in your pocket)
  
  
• The entire process of moving money from the UK to any overseas location, so that you're armed with all the knowledge you need to make intelligent decisions about your money
  
  
• How you can ultimately save £100’s and £1000’s so that you have ample money to buy furniture and white goods…
  
  
• More case studies of people that lost money due to foreign currency strengthening against the pound, so that you learn from other peoples mistakes rather than your own!
  

And just a couple remarks about the report from our readers...

" We have found your free report to be extremely helpful... Wendy Watson"

"I have read and absorbed the information in the stories outlining the mistakes which the uninitiated can make when transferring currency. It is very illuminating and essential that any one,like myself, who is in the process of buying an overseas property should be aware of. I would go so far as to say that every agent selling overseas properties should be compelled to advise their prospective purchasers that it is paramount that they use a currency expert such as yourselves. Regards, Eric Thomas"

To get a copy of the report at no charge go to: http://www.smartcurrencyexchange.com/freereport.htm

To get a Better-than-Bank rate go to: http://www.smartCurrencyExchange.com/smartsquotation.htm
or call Carl on 08081 630 102 freephone.

This month, we feature TWO stunning French residences!

Don’t you LOVE this outstanding Norman half-timbered property? It is a mere 30 minutes from the lovely seaside town of Deauville and is situated in an 8,000 sq.m. garden. It boasts 250 sq.m. of living space including a fantastic 43 sq.m. living room with a huge fireplace, a fully fitted kitchen and 5 bedrooms. There is also a light and spacious leisure room with a pool table and a central heating system which can be remotely activated.

To cap it all, the price has just been reduced from €350,000 to €330,000 making this a true bargain for that lucky someone!

If you are interested in learning more about this property, please give me a call - I can supply you with more information or set you up with a viewing trip. Just pick up the phone and call me on
020 7898 0549 or email me: mailto:Alexis@overseasguidescompany.com

A pretty stone cottage somehow has universal appeal doesn’t it? How about this little gem? It is a spacious 2 bedroomed village house nestling in the Dordogne. It is totally renovated with surprisingly large rooms and a small private garden. There is a gorgeous fireplace, fully equipped kitchen with breakfast bar and door leading to the garden as well as a lovely enclosed sun terrace.
The price? Like many properties in France at the moment, this one has been reduced by a staggering €85,000 and is now on at just €213,000!

If you would like more details about this lovely property or others like it - anywhere in France - simply send me your property form and I will put you in touch with our recommended agents straightaway. What are you waiting for?!

http://www.francebuyingguide.com/property.htm

5 secrets to financial fitness

Next month sees the start of the Olympic Games, here are a few secrets to your own financial fitness!!

Get motivated
Set yourself realistic goals and work out what you need to do to achieve them. Get a financial personal trainer to whip you into shape. Use them to help you come up with an effective wealth and fitness program. Have a clear vision of what you are trying to achieve and make sure your game plan is always on track.

Get active
Take an active interest in your finances. Keep yourself informed. Book yourself in for a full financial health check. Regularly review your policies and investments. Make sure you know exactly what plans and policies you have and why you have them. The financial landscape is always changing…make sure your portfolio matches the market and your current plans.

Look after your health
There is nothing more important than your health. In order to earn the income you use to fuel your financial planning you need to be fit and well. Stay healthy and make sure you have planning in place to provide quality healthcare and financial security in the event of ill health.

Cut out bad habits
Just like health and fitness, a bit of discipline is necessary to get your money in tip top condition. Review your bank statements to ensure you aren’t wasting any money. Draw up a budget with an allowance for financial planning. Minimise and manage your debts. Make it a top priority to be debt-free.

Build strength and balance
Now that you’ve got the basics sorted, it’s time to make you financially stronger. Pump that financial iron! Gradually accumulate capital through regular saving. Balance your portfolio with investment in different asset classes and products with different levels and classes of risk.

We have a wonderful Independent Financial Advisor (or IFA) to help you achieve the maximum financial benefit for your finances, both now and into the future – the key is knowing what to do with your funds, and when.

If you need their assistance, please go to:

http://www.francebuyingguide.com/resources.htm

and drop me a line. I will get them to contact you…

France’s “joie de vivre” explored…..

France holds many attractions for us Brits: the weather, the beautiful countryside, the delicious food and wine, the value for money. But perhaps most of all what we are seeking for when we go there, or think of owning a property there, either for holidays or more permanently is that certain “something” which would appear to be ever more lacking in the UK: that certain “joie de vivre”.

Here I would like to share with you a few of the great things about our favourite country. I am sure you will be nodding in agreement at each little snippet!

So, to borrow Mary Poppins’ famous phrase, here are a few of my favourite French things:

• The sense of community, particularly in rural France. Even in sleepy villages you will find there are many things going on. The French always seem able to effortlessly organise events from small fetes to large village fairs, community meals or wine tastings, recitals in churches or sporting events. I think the local “maire” has a lot to do with this. He has a huge input in the community and there is more local organisation than in the UK. What I love about this is not just the fact that people seem to put more effort into the community, they are also adept at mixing generations. You will frequently find events where babies and children are mixing with grannies and grandpas!

• The sense of identity. I don’t know about you but I am finding that here in the UK more and more chain shops and cafes are creeping in, with the local stores we used to see disappearing. In France you will find independently owned cafes, bars and small shops. Most towns and villages will have local butchers, greengrocers, flower shops, fabric shops, art shops and all sorts, all individually run, not to mention the lovely markets with fresh produce. I cannot remember seeing a Starbucks anywhere in the Tarn et Garonne, my local department, for example! This individuality makes for far greater character and one finds a certain value held by the French for local businesses. Of course there are the big superstores and chains but these largely tend to be on the outskirts of any town so that each place retains its sense of individuality.

• Friendliness. I suppose following on from the above, and because people have more time and are less stressed, they tend to be friendlier. Drive through any town or village in rural France and you will see a game of “petanque” (French bowls) perhaps or notice a couple of elderly ladies chatting on the pavement, children playing ball or congregating in the market square. If you go into a French shop you will notice that everyone says “bonjour”, both the staff and the customers already there! You do not feel pressurised to buy and there is a greater feeling of time and less pressure. Of course there are stories of the French being a little snooty about the English who do not make an attempt to speak their language but in general, a friendly “bonjour” back will find you welcomed into the community, something you rarely experience in the UK these days I am sure you will agree!

• Fabulous French roads. Whether you are travelling on a motorway, A road or B road, you will instantly notice there is less traffic! That alone makes driving a somewhat stress free experience in France. Put quite simply, there are fewer cars on the road and more roads on which to drive! Also, since all motorways have a toll, you will find that they are far better kept and you will rarely be inconvenienced by roadworks or those awful contra-flow systems we seem to have here all the time here. In the countryside in France there is nothing more pleasurable than heading down one of those typically French straight roads with trees aligned each side as far as the eye can see (thanks to Napoleon!). Traffic jams? Very few and you are more likely to be stuck behind a tractor than a row of steaming cars!

• Healthcare. Yes, the rules have changed and many of us living in France will now have to pay insurance to affiliate to the French health system. The good news however is that the French healthcare system remains one of the best in the world. The level of care is first class, there is generally no waiting in doctors’ waiting rooms, you have a huge choice of doctors and specialists and quality hospital care. For everyday care the local pharmacy is a must: they stock a huge range of medications which you sometimes only get on subscription in the UK and your local pharmacist will have a thorough knowledge of many minor ailments.

• Food and drink. Last but by no means least, French food and wine remains some of the best in the world. To quote Moliere in the French: “Il faut vivre pour manger, non pas manger pour vivre”: “One should live to eat, not live to eat”. The French know how to present and cook good food, their markets are outstanding with fresh, usually home grown vegetables and fruit and it is still perfectly possible to eat very well in a restaurant on a “prix fixe” (fixed price menu) for between €12 and €18 euros, often including a glass of wine. Another small point: I always notice that a fresh carafe of water and a basket of bread is automatically placed in front of me in restaurants in France: you don’t even have to ask. As for wine, well where does one start?! Every region in France has a wealth of wines and you will find the supermarkets in most towns stock a huge range. You are literally spoilt for choice.

So these are just a few of my favourite things. I would love to know yours. Tell me your experiences, let me and other readers know just what it is you love about France, I am quite sure that between us we could build up a novel!

Why not put your own piece on our France Forum, we could really get something going here about our favourite subject! Just click on this link: http://www.fbg-forum.com

Closing

With the school holidays now in full swing, it is time for many of us to get away from our daily routine. Again, I would love to hear your stories. Maybe you have come across a lovely French B&B, a superb restaurant, or met a great character in the village where you are staying? Maybe you have a story to relate or something you feel other readers should beware of? Whatever it might be, let me know and I will respond to each one. All contributions most gratefully received!

Lastly, I share with you here a really lovely email from one of our grateful readers. It is a complete joy to be able to help people achieve their dream of owning property abroad. If you would like my help, you only have to ask. I am a phone call or an email away and shall do my best to help you achieve your dream in France.

"Hi Alexis

Your generosity is endless... thank you so much

I must say that you efficiency and professional approach to your business exceeds most companies here in the UK.

When I had my business I always encouraged all of my staff to be professional, and many companies in the UK fail to impress me, Your approach is one in a million it’s so good to see, and you deserve all the success in the world.

Thank you

David and Geraldene”

Enjoy your holidays, have fun in the sun and until next time, my very best wishes to you.

Kind regards till next time,

Alexis
France Buying Guide
The Overseas Guides Company Ltd
0207 898 0549 (call me!)
mailto:Alexis@overseasguidescompany.com