Re: Re: Costas – When will this market bottom?

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Buying is definetely picking up now, but not with brits, and won’t be for a long time with Brits.
But other europeans and spanish are looking to buy. The reason it appears that things aren’t selling is because when interested people go to the bank, the banks aren’t giving out the mortgages!
I have friends who have had a few interested spanish buyers but when they go to the bank they can’t get the mortgage and then on top of that they try to flog them off with the rubbish they have on their books by offering them 100% mortgages.
So I think the information out there is misleading in saying that buyers are waiting for it to bottom out. There are lots of buyers wanting to buy now, but the banks are just not making it easy, they are the ones holding things up! As soon as the banks start realising that and start lending again the market will start moving faster.