Politics boosting the Pound

The likelihood of a defeat for Labour is positive for the pound. Euro zone economic data are uninspiring but not harmful to the euro.

Monday's €1.1250 opening proved to be too rich for sterling's blood and it quickly began to retreat. It traded below €1.11 on Tuesday, rebounded to €1.12 on Wednesday, fell back below €1.11 on Thursday and bounced yet again to €1.12 on Friday before retracing its steps downwards to open at €1.11 in London this morning.

The UK economy delivered some decently positive data. Two purchasing managers' indices, one for the manufacturing sector, the other for services, extended their progress into the 'expansion zone' above 50. The manufacturing PMI came in at 54.6, taking second place to the equivalent US measure. Services, with a score of 56.8, led the international field.

The Halifax house price index added 1% in December, putting it 1.1% higher than it was at the end of 2008. Factory gate prices went up by 3.5% last year, squeezing manufacturers who had to cope with costs rising twice as quickly over the same period.

But it was not the economic data that shaped sterling's performance, it was politics. News of an attempt to oust prime minister Brown sent the pound lower; confirmation that the coup had failed sent it back up again. Investors believe that a solution to Britain's spending gap requires a change of government.

As long as it looks as though Labour will be out of office by June they are inclined to be patient with sterling. And as long as Gordon Brown is leading his party into the general election they are confident that will happen.

The euro zone economy did not have much to shout about. Inflation ticked higher again, rising to +0.9% but still leaving it at less than half the target rate. Unemployment was up too, reaching double figures at 10% in November, its highest level for a dozen years.

Spain was one of the biggest culprits on the unemployment front with one in five out of work and 40% of young people looking for a job. Euro zone retail sales fell by a disappointing -1.2% in November after a less than inspiring +0.2% increase the previous month.

Sales were down by -4% compared with a year earlier. The second and final revision to third quarter gross domestic product confirmed that Euroland's economy grew by +0.4% in the third quarter of last year.

Investors will be keen, as ever, to hear what the European Central Bank has to say after its first meeting of the year on Thursday. No change is expected to its 1.0%

Refinancing Rate but ECB President Jean-Claude Trichet will doubtless vouch an opinion about what might lie ahead for the euro zone economy. Although he never predicts where monetary policy is going he frequently drops hints.

The pound has spent most of the last three months between €1.09 and €1.13. It starts this week comfortably within that range and showing no sign of wanting to escape. We therefore stick to the existing risk management strategy: Buyers of the euro should stick to a hedged position, locking into a rate for half the money they will need.

Merry Christmas from Los Cristianos Tenerife

Tate Properties based in the heart of the beautiful town of Los Cristianos would like to wish all of its customers passed and present a very Happy Christmas.

As the cold nights draw in, the smell of Christmas bustles through the streets of this beautiful picturesque town. The once quiet fishing village of Los Cristianos, is now bustling with fantastic property for sale, and beautifully set complexes, overlooking the sea, and beach fronts of the town.

Property for sale in Los cristianos is now an unbelievable investment, with prices at rock bottom, they will certainly not fall any lower, and will begin to rise as the world pulls through the Crisis.

Tate Properties also have some excellent rental properties available, and if you are looking for a long let property, we have some great properties on offer.

We have now also taken on some great business opportunities in Tenerife, and can help relocate any family, looking to emigrate to the island. We now have the whole package, with properties for sale in Los Cristianos, Businesses for sale in Los Cristianos and even Rental properties available today.

Why not call in and see us, we are located by the famous Los Cristianos Markets, above the shopping center. Our property consultants can help provide you with all of the solutions you are looking for.

Happy Christmas and a very Merry New Year.

Relocate to Los Cristianos

Tate Properties Tenerife have now completed their new Tenerife Relocation Package. We can now relocate you and your family to Tenerife, helping you to locate schools, Employment, new business ventures and property.

Each of our Relocate to Tenerife team will help with your emigration to Tenerife, the first step is to initially contact us and tell us your situation. After a consultation with the relocation team, we will place you with one of our best advisors. This person will look after you throughout the whole process, taking your hand, and helping you to unlock the doors of your future move.

The first step of the process is all about you, and your move, deciding on the important factors which will need to be addressed first. If you have family with children, we will first source the best schools in the areas you have been considering. You may not even have got as far as location, then our relocation team will talk to you about the best areas to suit your family, giving you the reasons why.

Are you bringing mom and dad with you? Its no problem, we will also consider any disabilities they may have and help you to find the best location for everyone. Relocating to Tenerife is much easier when you have a team you can trust, Tate Properties is that team.

The next step is to find employment, securing your families financial future. Our Tenerife relocation team have created a solid network and can help you into employment opportunities. We will first need a full consultation with you, and talk about past work experience, helping us to connect you to the right people. Our relocation team understands that your financial future is at risk with-out employment. The power of our network can have you placed into industry´s you know well, providing you meet the employees requirements.

Renting or purchasing property in Tenerife can be handled by our relocation experts. Our Tenerife property portfolio offers some fantastic deals at present, from family homes, Villas, Town houses to studio apartments for individuals. Our property portfolio covers the whole island, and any area you would like to consider. We will locate the best options for renting and purchasing, its not as stressfull as you think, especially when our team will do the searching for you. Tate Properties will start preparing viewings, arranging contracts, and complete your property purchase with in a few weeks. We have solid relationships with most banks in Tenerife, and can arrange fixed rate mortgages, interest only and in some cases 100% loan to value.

We can even take care of your pets travel arrangements, seeing the family dog into its new home. Along with our competitive removal experts Crownway International.

They will move your family possessions from door to door, and take care of all of the paperwork. Leaving you to sit back, relax and enjoy your new life in the sun.

Call our Tenerife relocation team today on 0034 922 787 717, they will be happy to take your call and begin your consultations.

It costs nothing to talk, so what are you waiting for......

Los Cristianos

When looking for property for sale in los Cristianos you need an estate agent that you can trust to look after your best interests. Tate Properties are an experienced Estate Agent specialising in los Cristianos property. Established in the Los Cristianos area, we have a wealth of experience and knowledge. Our dedicated and professional approach to our work has earned us a strong and highly regarded reputation for being the best for Los Cristianos property.

Los Cristianos is an ideal location for property investment or for finding that home in the sun. Situated just 15 km's west of Tenerife’s south airport, Reina Sofía, ensures a transfer trip of less than 30 minutes, making it an ideal spot for tourism and with its beautiful promenade full of restaurants, shops and bars it is easily one of the most popular resorts on the Island. Los Cristianos began as a local, quaint little fishing port with a few houses and a few bars. Twenty five years ago when the tourists started coming to Tenerife and Los Cristianos, Las Americas was built to accommodate them and soon Los Cristianos joined in the tourist boom.

However, Los Cristianos is a far more sophisticated resort to Las Americas.
There is a beautiful catholic church and many buildings in the area have managed to maintain their original typical Canarian architecture. By the Los Cristianos harbour, the old town is still present and although this has now become a major port with large cruisers, yachts and the Fred Olsen ferry and hydrofoil travelling daily to the islands of La Gomera, La Palma and El Hierro, the small fishing boats and trawlers can still be found here too.

Los Cristianos offers two long artificial beaches. Both are clean and very well kept and because they are manmade the sand is not as dark as can be found on other beaches

The beachfront here offers a wide range of bars, restaurants and cuisine along the promonade, not just British, but also plenty of traditional Spanish bars offering locally caught fresh fish, Tenerife specialities and Spanish tapas and the bars offer a variety of salsa, jazz, live bands and cover bands. The promenade itself is beautifully maintained and runs uninterrupted right along the coastline from one end of Los Cristianos to the furthest tip of Las Americas taking around two hours to walk.

Off from Los Cristianos’ town centre and stretching down to the port is the totally pedestrianised Avenida de Suecia, a labyrinth of streets and alleyways that is a shopaholics paradise. Clothes, food, jewellery, makeup, sports equipment, you name it, somewhere they will have it.
Los Cristianos is a small fishing village around which tourism has inevitably grown, but which has managed to preserve its own flavour and charm and Tate Properties is proud to be able to offer the prospective buyer a complete service from start to finish when purchasing Los Cristianos property.

Eurozone interest rates cut to 1%

FRANKFURT - THE European Central Bank cut its main interest rate on Thursday for the seventh and probably last time to a record low of 1.0 per cent to boost activity in the slumping 16-nation euro zone.

In London, the Bank of England left its main rate stable at a record low of 0.50 per cent but said it would pump more cash into the feeble British economy.

In Frankfurt, economists wanted to know how the ECB and its president Jean-Claude Trichet can boost bank lending further amid a deep recession.

'Eurozone interest rates might well have reached their trough, but further unconventional policy support should be announced later today,' Capital Economics economist Jennifer McKeown said after the decision was announced.

'After last month's hints that a decision on such measures would be made at this meeting, all eyes will be on president Trichet' at a press briefing 'to see just how bold (or not) the bank will be,' she added.

The decrease of 0.25 percentage points made for a combined cut of 3.25 points since early October to the lowest level in the bank's more than 10-year history.

In London, the Bank of England said it would pump out another 50 billion pounds (S$110.6 billion) of new money into the economy as Britain battled its own recession.

Other central banks cut interest rates in the Czech Republic and Iceland, following decreases on Wednesday by peers in Norway and Romania.

Eurozone economists turned quickly to what Mr Trichet might announce within a framework of so-called quantitative easing.

QE amounts to a central bank creating money to buy government or corporate debt with the goal of easing a dogged credit squeeze and spurring growth. The measure most likely to be announced is an extension of the ECB's unlimited cash loans to commercial banks beyond the current limit of six months, to nine or 12.

An expanded range of collateral accepted in exchange for ECB funds is another move mooted by many, but UBS economist Stephane Deo said such measures 'represent more of a prolongation of the past strategy than a step change.' Mr Trichet could also tell markets the new low rate will be maintained for some time, which would mark a sharp departure from previous refusals to 'pre-commit' on rate policy.

Tate Properties Tenerife.

See Our foreclosure List before the Banks!

With the dramatic fall in interest rates, savings held in banks are presently doing nothing more than keeping the doors open. Your savings are helping to fund the banks, and line the pockets of share holders. Without your savings, the banks would fall, and share holders would race to sell, looking for safer investments. So why is it, banks are now only giving us pennies and not pounds? If it's our money that is helping them, why are they not helping us? One thing you can be sure they are doing, is increasing their banking fees, tightening up on loans and charges, and waiting for you to slip up just once, so they can foreclose. Many shrewd investors have seen the credit crisis, as a valuable opportunities. Pulling their savings out of "Low Interest" savings accounts, and pumping it into valuable long term investments. What is a safe investment these days? well its still got be bricks and mortar. Property will always be here, the human race will always need it, unless we get nuked and have to live on mars. Castles built in the ages of old, are still here, and guess what, there worth a small fortune. So why do we keep our hard earned cash locked up in banks that would not even consider lending to us at this moment in time? Tate properties have some excellent connections, and have gathered a list of foreclosures, for people ready to buy. These properties are from burdensome people that the bank would not help, maybe you can. These properties are on the market at well below market value, and need to be sold fast before the banks greedy paws play foul. This is a time for financial war, against the bankers and financial experts who have run us into the ground. If you have savings, and would like to see our foreclosure list, before the banks, then contact us now. You maybe able to help another victim of this crisis, and keep the Bloody Banks away. Let's fight back, lets help those who need it, and laugh in the face of the credit crunch bankers. For more information on our Foreclosure Sales list, contact Phil at Tate Properties - 922 787 717

Credit Crunch Capitalism

The Euro zone chiefs met yesterday and confirmed another reduction in the Euro-bore interest rate. They have now lowered it from 4.5% in September to now just 2%. This reduction comes at a time when all countries are hitting recession. The USA are now experiencing 0% interest, something that I thought I would never see, from such a huge country once brimming with wealth. How the mighty have fallen, maybe the hand of God has taken a firm role, and tore down the fat cats pedestals, or maybe its just the work of crooks in bankers suits. We will never know, but what we are interested in, is how can we benefit from this economical downturn?
Well many would say we can't, put your money under your bed, and sleep on it every night. Your can't make interest on it anyway, so why should we give it to the banks to help pay Peter, and Paul. Others would say spend it, and enjoy it why you have it! But the clever investors of the world, embrace times such as recession, to mop up in the well of onlookers. They take there lump sums of cash from the crooked bankers, and begin to invest, extremely aggressively, in good old bricks and mortar. Knowing what they pay today, will be a fraction of what the property will fetch in say 10 years time. This is not for the quick sale fraudsters, their time has passed, and its now time for the challengeable investor to make his mark. When I say aggressive, I do not mean in the speed he will mop up his fortunes, I mean in the aggressive dealing techniques he will use to intimidate his vender, and purchase at the lowest possible price.
Property, will always be property, we will always be human, and always want some form of property to live in. So its a win win situation, they simply take from the worst situated venders financially, and sit on the property portfolio until countries once again bloom.
Tate Properties Tenerife have been sourcing out the venders who need to sell, and are only looking to repay their debts, off loading extremely valuable assets for ridiculous prices. Many people have spread their wings too far, and now the feathers are begriming to fray. Before loosing face, and becoming another statistic of the credit crunch, they are desperate to sell what they have and get the banks off their backs.
"We can source some extremely well located properties, at crazy prices" explains Phil Hornby their MD "It is only for the strength of our connections that we are exclusive to these types of deals, making huge financial gains to any prompt investor"
For further information on Credit Crunch Capitalism, why not contact the people who know!
Tate Properties Tenerife 902 881 061.