Today, first time in a few months,I have been looking at property listings. This time I have noticed quite a sizeable drop in asking prices. I’m not saying that the market has hit bottom yet, indeed I don’t believe it has, only that prices are inexorably and quickly moving towards a more realistic level.
Connells, who seem to be charged with the job of shifting CAM bank reposessions in the UK, strike me as now being particularly aggressive with their pricing.
That is a very useful website because it shows the percentage discount and the before price the property was originally on sale for although I am not sure if the before price can be relied upon as being genuine but at least it is a good indication as to where the property market is heading. You can sort the list of properties based on the ascending/decending percentage discount which is a great feature. Wait until you get at least a 90% discount on a property then it will be on sale at what I reckon will be a sensible price.
Better still, wait until Spain drops out of the Euro and reverts back to the Peseta which will take place in three to four years time, then there really will be blood on the streets and total carnage on the property market with property price discounts of 99%.
I think it is generally better to deal directly with the bank if you can, as that allows you to cut out a middle man.
Pretty much all these repossessions will be listed on http://www.idealista.com/pagina/portada anyway, which is an excellent site that also indicates price changes, and allows you to filter specifically for repossessions (“de bancos y cajas”).
If you use Rightmove then you must use the http://www.property-bee.com/ add-on for Firefox. It will magically display the price history of listed properties and give you a good idea of how long a property has been on the market (essential information)
This website uses cookies to improve your experience. If you continue to use the website you agree to our use of cookies. You can find out more here. Accept
Cookies
Privacy Overview
This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.