Hello there and Merry Christmas to you.

Here in Italy in mid December we have only just started thinking about Christmas!

In Britain, Halloween decorations in shop windows give way to Christmas advertising on the 1st of November it seems to me, but this would be unthinkable in Italy. After all, the 1st of November is All Saints Day, the 2nd is the Day of the Dead, the 25th of November is St Catherine and the 8th of December – a bank holiday – is the feast of the Immaculate Conception. Only once all that is out of the way do the panettone’s and pine trees get a look in.

For those of you who don’t know, panettone is the bread especially prepared and enjoyed over Christmas and New Year. Indeed, over Christmas, panettone becomes an alternative currency, exchanged for other panettones and goods, until someone actually decides to eat one. In my own little town, Christmas Eve is marked by a midnight mass, followed by a large bonfire lit by retired Alpine troops all wearing their festive feathered caps, who then do the rounds serving mulled wine, hot chocolate and panettone.

The Alps are looking very inviting at the moment with some very early snowfalls; anyone within a day’s drive of the slopes is talking about skiing. Where I live it’s a two hour drive to the nearest slopes but it is worth it: no queues, lots of snow and sunshine, and even a marvellous view of the Mediterranean Sea from the top of the ski lift.

Christmas came early for me in November this year when, finally, after years of pleading with the powers that be, broadband arrived in my area. This of course has changed the world – or at least MY world! The first thing I did was listen to Radio 4 online. It has also made it so much simpler to get information - the second thing I did was look at the pound/euro exchange rate, which was a depressing 1.15 euros to the pound.

Depressing, that is, depending on how you look at it. The estate agency here is experiencing a flurry of activity from British property owners who are rushing to sell investments here before the pound strengthens. Suddenly the current exchange rate is looking good to them. Take the case of Jenny and John from Liverpool. Their old, partially restored mill was on the market for 200,000 euros all last summer. At an exchange rate of 1.45 euros to the pound, they would have made 138,000 pounds on the sale, or thereabouts. Then the financial crisis happened and they decided they needed to sell quickly and lowered their price. Last week they closed the deal at 160,000 euros, but with an exchange rate of 1.15 pounds to the euro, they are making 139,000 pounds. In fact, they have made it a condition of the sale that it must go through quickly in order to benefit from the current exchange rate. (They didn't know that at Smart Currency Exchange they could fix the good rate today and pay for it later).

You can see too that if you are BUYING and have your finances in place, prices are actually dropping as the market loses momentum for a while and cheeky offers will now be considered!

This month’s feature is a heart-warming tale from my town, as witnessed by me personally, which I think is perfect for the Christmas season. It’s a story worthy of Don Camillo. See you in the New Year! And do remember: if I can help you to make your Italy property dreams come true you have only to contact me or the team at Italy Buying Guide.

Kind regards,

Gianna Williams
Italy Buying Guide
The Overseas Guides Company
Gianna@OverseasGuidesCompany.com

In from the cold: a story with a happy ending!

Immigration has become a major issue in Italy. It was in fact a key issue of the last election, as there has been a strong movement among the general public against illegal immigrants, particularly from Africa and Eastern Europe, as they are perceived to be more of a financial drain on the country. However there are many examples of successful integration from all parts of the world, even in my own little town.

There is a familiar pattern to immigration in Italy, as in other countries. One member of a family is sent ahead to look at possible opportunities for making a life in Italy and, once they are settled and have found work and a home, they arrange for family members to join them. This was the case of Petronilla and Andreas, a Romanian couple living in my town. A few months ago, Petronilla gave birth to a baby girl. Her first child, a 10-year-old son, had been left in Romania while they made a home in Italy and now the couple felt it was time to reunite their family. Once the baby was born, Andreas set off for Romania to get their son.

When he got there he was told by Romanian immigration officials that they would only let his son out of the country if accompanied by his mother. A panicky Andreas called Petronilla, still recovering from the birth, and pleaded with her to join him in Romania and help him bring the boy home to Italy.

Unfortunately the baby still had no travel documents or passport and was not able to go with her. The situation seemed impossible, but a solution was soon found, in the person of the local parish priest. Don Nello, who accompanied Petronilla to Cuneo airport, watched her fly away and was left clutching her one month old baby to him, the closest he'd ever been to a baby without pouring water on its head!

For the best part of a month, Don Nello housed this baby in the improvised old people's home, a large apartment located in the church building. A rota was devised among the women of the town, who took it in turns to nurse the baby day and night. The most unforeseen and delightful result of this was the reaction of the handful of elderly residents living in the home. The place was transformed. They literally fought over whose turn it was to keep an eye on the baby, buying her clothes, arguing heatedly over which one of them the baby liked more... When Petronilla, husband and son finally returned from Romania, the old folks were quite depressed (I think Don Nello was less so…!) but the little girl and her mother continued to make daily visits to the old people’s home and it has indeed become a second home to this family.

Foreigners who buy properties in my small town are often worried about how their presence will be greeted by the locals. I always give them a very upbeat answer: I have found that the way the community responds to people has more than anything to do with the attitude of the newcomer towards the local people, the language and the customs of their adopted home. Showing interest in traditions, trying to speak a few words, a smile, participating in local life: these are the building blocks of integration. And, of course, children!! Providing immigrants make the effort, they will be greeted with warmth and friendliness.

If this has made you even more determined to buy a home in Italy and if we can help in any way, please go to:
http://www.italybuyingguide.com/property.htm

and fill in the form and we will come back to you with helpful recommendations.

What is the difference between a bank and a currency specialist?

Over the past week I had an interesting conversation with an Italy Buying Guide reader who asked me what the difference is between a bank and a currency specialist like Smart Currency Exchange. So – rather than include Charles Purdy’s usual currency update I decided to give you the low down on the differences between a bank and Smart Currency.

This is what I discovered:

- Banks offer several services, which we’re all aware of – they include cheque and savings accounts, investments, credit cards, insurance, mortgages, travel money, loans and so forth.

- Smart Currency Exchange offers only one service – helping overseas property buyers to buy and transfer currency either abroad or bring it back to the UK. By focusing on one service only, the Smart representatives are able to devote far more attention to their clients, to provide them with more currency options and more ways to make the process faster, safer, less expensive and, overall, a whole lot easier than going to a high street bank.

- Banks and currency specialists buy money from the currency market at a certain rate and then sell it on to the end user (you), making a profit. On average, banks work to a margin of up to 4% more than the margin taken by Smart Currency. That means that if you’re paying Smart £100,000 for euros or US$’s you would pay a bank £104,000. In other words, you’d pay the bank £4,000 more for a reduced level of service! Don’t these banks really make you mad?!

When talking to Charles I said, ‘Let me see if I understand this. Going to Smart rather than a bank is like going to a specialist kitchen company rather than going to B&Q?’

Charles responded, ‘You have the right idea, however when going to a specialist kitchen company, most people pay more for the quality products and high expertise. With Smart, our clients not only get an incredible level of service and expertise but they also save a substantial amount of money. When comparing our rates against the banks’, many clients have estimated savings in the £10,000 range!”

I also asked Charles about the safety and security of using Smart versus a bank. Charles explained to me that all client funds that come and go through Smart are processed at the Bank of Ireland. The funds come in, are exchanged and transferred out. Furthermore, all funds held at the Bank of Ireland are 100% guaranteed by the Irish government.

Since I was on a roll and eager to find out more, I asked Charles about the terrible state of the Euro…is there a light at the end of the tunnel? Charles explained that no one can predict what’s going to happen. However, overseas property buyers can make sure that it doesn’t get any worse for them than it already is.

Apparently, you can reserve a rate today and pay for it later. As I write, I think the Euro rate is around 1.11 to the pound. Charles explained that clients can reserve money, say £100,000 worth at 1.11 today and then actually pay for it in 6 months time. It’s entirely possible that the rate will go down to, dare I say, 1.05. By reserving money now, you don’t have to worry about what you will be paying in 6 month’s time – you will have locked it in to 1.11!

Anyway – I found my chat with Charles to be extremely interesting. If you’re interested in more information on Smart Currency Exchange, check out their website on www.SmartCurrencyExchange.com – there’s loads of information on how the process works and what is involved. You can apply online and there are no costs or fees associated with the trading facility. It’s well worth your time to check it out.

To read the latest on Serling and the Euro go to: http://www.ItalyBuyingGuide.com/Currency181208.htm

Here is an email we received about Smart:

Good afternoon Gianna & Kim,
Firstly, I want to thank you for the small investment I made in buying your guide and how much it has saved me and how easy it has made everything! You saved us about 3,000 Euros in using Smart!!
If you would like me to do a quote for your guide I would be more than happy to pass on how great you have been.

We have just been to Sicily for the fourth time and had a weekend full of non-stop property viewing and I drove over 600 miles! We basically went around the whole island and went to see total 13 properties in Caccamo, Marsala, Scaicca, Caltabellotta and finally Cianciana. We whittled it down to three and decide to put an offer in on one in Cianciana which wouldn`t break the bank nor our backs and a view to die for over the Platini Valley.

Our offer has been accepted 4,000 EUROS under the price and we have just had fantastic advice from Natalie at Smart Currency Exchange and have purchased all the Euros we will require for the purchase and all the fees and duties. In the light of the ever strengthening Euro a wise thing to do!

I don`t know what we would have done without you, we will keep you informed. We are just awaiting our proposta d`acquisto to sign and when the vendor has signed we send our deposit off. We are hoping to complete in 3 months so we will be with keys for spring, how exciting.

Have a great weekend.
Kendra & Tony

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.

"Impalata" in the Valle D`Itria

This lovely and characterful home borders on a vineyard - the only neighbour in sight. It is immersed in its green surroundings but the town of Martina Franca is a mere 5 kms away. Living in the country can thus be easily combined with urban life.

The cone of the trullo is made of chiancarelle, the local stone, which is carved out by hand. The trulli are exceptional examples of a building technique that has survived from prehistoric times until today. They are also an extraordinary example of man’s ingenuity and adaptability.

Trulli are built without using mortar: the stones are laid on top of each other. They are also characterized by their dome-shaped roofs. These roofs are in some cases painted with a magical or pagan symbol. The barrel vault of the lamia, a country house with barrel vaulted ceilings), is tiled with the chianca di magli or stone of the area. The key features of these dwellings are the dry stone exterior walls and spacious internal rooms with high vaulted ceilings. The external roof is flat as this is where the farmers dried their fruit in ancient times. The dry-stone walls enclosing the property are cut one by one on the spot. So you will be part of the landscape and the history of the area.

The living space of approx. 120 sq. m. comprises kitchen living, 2 bedrooms, 2bathrooms, a living-room and a pantry. 1,500 sq. m. of land are included in the price of the property. More land is at disposal on request. Building a swimming pool is possible on request - authorisation has already been granted.

Location: between Martina Franca and Noci, in the Puglia or Apulia region as it is sometimes called. The town of Martina Franca is on the highest peak of the Valley of Itria between the two seas and offers beautiful views over the Valley with its olive groves, vineyards and fruit trees. And not to forget the typical trulli which are scattered throughout. Its palaces and churches have turned Martina Franca into the capital of Apulian Baroque.

25 min by car to the beaches on the Adriatic Coast

75 km to Bari Airport, 62 km to Brindisi Airport

Price: € 300.000

If you are interested in this or any other property in Italy please just call us on 0207 898 0549 or go to:

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

and fill in the form and we will put you in contact with a recommended property person in the area of your choice.

Legal translations in real estate transactions

All binding legal documents relating to an Italian real estate transaction must be written in Italian, what ever the nationality of the parties. Italian legal writing is highly technical, ritualistic and often archaic due to the close links with Roman Law. It can be very obscure for people lacking a solid legal background in Italian law, or even to those who speak a bit of Italian.

All this is further complicated by the profound differences between the legal systems, more specifically between the English/American system based on Common Law and the Italian one based on Civil Law. There are juridical concepts in Roman Law that simply do not exist in Common Law and vice versa. Indeed there are concepts bearing the same name in the differing legal systems that actually mean something completely different.

As a consequence, an accurate understanding of the legal systems and the legal processes involved is essential for translators or interpreters involved in such important transactions.

An intimate knowledge of the specialist terminology is required as well as knowledge of the legal concepts implied. Just getting the document translated is not sufficient - a legal document should never be signed without the assistance of a bilingual qualified lawyer who can explain the full scope of your commitment in English.

Many real estate agents use printed contracts with an English translation. Such translations are rarely totally accurate and may easily mislead the buyer. It’s important to underline that in case of litigation the Italian version will always prevail. In the most crucial phase of the transaction, when signing the Deed of Sale in front of the Notary public, the Italian law requires the presence of an interpreter if the buyer is not fluent in Italian. Our advice is to make sure that such interpreter is duly qualified, not only from a linguistic point of view but also in terms of their legal background.

Another crucial aspect to bear in mind is the independence of the interpreter. This would exclude a bilingual real estate agent, an English speaking relative or friend of the seller or an Italian English teacher. Explaining to you the Deed or Sale that you are about to sign is a very delicate task and you want to make sure you are entrusting the right professional. Please remember that the Italian version of the Deed will prevail so it’s essential that you have an expert and independent explanation of all the legal implications that are involved.

If you need help with this we can recommend an independent legal adviser, who has the right qualifications to assist you throughout the real estate transaction. They will always make sure you have a full understanding of the documents you are requested to sign and will make you aware of all the legal consequences implied. Just go to:

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

and fill in the form and we will respond immediately with recommended legal assistance.

Let me help you...

Learning the Language

We have discussed learning Italian before you buy that dream house: below is a link to a language learning resource with a good demonstration available before you decide whether to purchase or not. There are various levels to choose from and for really very reasonable prices. I tried the PC version which was entertaining and educational – I even managed to learn 6 new words in a few minutes.

The site is really worth looking at if you would like to enhance your language knowledge. Just follow the link below, click on the Italian flag and then follow the demo. (Let me know what you think!) Actually I loved the very useful way that they tweaked the memory – they relate an Italian word to an English word or phrase that you already know. So, for instance, the Italian for FROG is RANA. They then ask you to imagine you RAN A mile after seeing a scary FROG – gettit?!! By the same token, the Italian for SMALL is PICCOLO so they ask you to imagine a SMALL boy playing a PICCOLO…clever don’t you think?!!

Here is the link: see what you think…
Language

Insurance

One of the things I enjoy most is when we source a really reliable and professional service for you that comes highly recommended by fellow readers. Once again, the response we have to the overseas property insurance company I talked about before has had several readers writing back to tell us how great they are. Take a look at our website for them: just click on: Insurance Quote and you will find that getting a quote from them is simplicity itself.

Italy Property Buying & Investment Guide

If you haven't already pu.rchased our excellent FULL Guide...why not get a copy today?

The completely educational guide covers the start to finish process of buying a property in Italy. Every step is outlined starting with the initial idea to bu.y in Italy all the way through to areas, how to bu.y lan.d, investment options and many top ti.ps. This guide is for anyone thinking about or currently in the process of buying property or lan.d in Italy.

In the course of three years our Guide has been graded a 9 out of 10 and we’ve received huge amounts of positive feedback.

There’s a money-back guaran.tee if you don’t like the Guide so there’s no risk in buying one – please get yourself a copy to ensure you know what to do and what not to do when buying in Italy.

More information about the Guide got to: http://www.ItalyBuyingGuide.com/guide.htm

This from a happy reader:

“Guiding you from no knowledge to well informed, the Buying Guide represents an essential starting point for anyone intending to buy property or land abroad. The step by step approach makes for an easy and understandable read. The key steps don’t even have to be committed to memory as the checklists are comprehensive. The guide takes a large percentage of the risk out of buying overseas. Highly recommended!
Christine Dawson”

Top Tip

Please just remember that property sales are not as frequent now because of the current financial climate. It is therefore even more important that you buy through a reputable property agent and that you use a reputable lawyer to assist you in the buying process. We can help here - we have people that other Italy Buying Guide readers have used and found to be both reliable and efficient. Just phone us on 0207 898 0549 or fill in the form at:

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

and we will immediately get in touch and discuss your requirements with you.

And to end...

Well, the year has sped by …where did it go? May I wish you a merry Christmas and a happy New Year, or as we say in Italy, buon Natale e felice Anno Nuovo. I hope the New Year brings with it all your wishes and dreams…and remember, if one of those dreams is to be here with me in Italy this time next year, please let us help you. Just call on 0207 898 0549 and we will be happy to talk you through the process – or even just chat about all things Italian – that’s always a great pleasure!! Let’s make that New Year’s resolution a reality. And if you want to spend the Christmas holidays reading about your project, go to http://www.ItalyBuyingGuide.com/guide.htm and your guide just may reach you I time for Christmas!

Warmest of festive regards and let’s make that New Year’s resolution a reality!

Gianna

Gianna Williams
Italy Buying Guide
The Overseas Guides Company
Gianna@OverseasGuidesCompany.com