My observation tells me that PMs change over time, for better or for worse.

@V.G Jason - This is an outstanding observation and analysis. 

By observation from a few I've seen in the area:1) Find old guy, hopefully with limited faculties not aware of the market value of his property2) Tell him you love his place and will enjoy owning it and that you're his good buddy who cares about him.3) Offer him at least 10% under FMV and tell him no one else is going to pay that much.   

All too often I have observed individuals raid their retirement accounts, paying far too much in taxes.

@Basit Siddiqi@Joaquin Camarasa@Bruce LynnA few observations/opinions on the topics discussed from a resident of the 51th state of the US (Canada - LOL) and investing in Spain:1.

I have observed the older appraisers often have a outdated view of values especially in recently appreciating communities. 

I do not know how the two may overlap and I can only comment on what I've observed in the Philadelphia market, but if the Philadelphia values I've seen in past social media posts and the limited financials available through their filings pertain to REIT owned assets, I can't foresee a scenario where the investors receive anywhere close to the share prices in the event the entire portfolio were liquidated. 

However, I believe limiting a discussion about Southern Spain exclusively to the Costa del Sol overlooks the diversity of opportunities the region offers beyond mass tourism and highly developed areas.Regarding your comments about my name and the fact that I reside in the Netherlands, I fail to see how this could affect the validity of my observations.

Here are my unsolicited thoughts / observations.

A global trade war is seen as the biggest observable risk for 2025, followed by a tech stock plunge and concerns over inflation and bond yields14.