Sevihabitat (La Caixa) dropping prices on repos

[Anonymous]

I had a couple of emails from Servihabitat, telling me that they have dropped prices on a couple of properties. I just had a look at the website, and it looks like everything has been marked down a little. Servihabitat is La Caixa’s repossession resale business.

There appear to be some reasonably priced stuff for sale, but still a lot that is overpriced, or junk. Are the banks beginning to get realistic?

[Anonymous]

Do you mind posting some examples of both reasonably priced and over-priced property so we can have a property discussion about value? Just a few examples with photos and basic details.

[Anonymous]

No problem, I hope the links below work OK.

This looks pretty reasonable to me, I think I will try and view this one.
http://www.servihabitat.com/svhPortal?action=detail&method=doDetail&idioma=3&idOperacion=788540

PARTIDA PEÑA DE LAS ÁGUILAS, 12, ELCHE
155,24 m2
Number of bedrooms 3
Current cost: 130.840 €

This one looks like overpriced junk to me, it’s an area that I consider to be similar to Torrevieja (maybe a little better, but only a little):
http://www.servihabitat.com/svhPortal?action=detail&method=doDetail&idioma=3&idOperacion=794633

ST. ROSALES, 69, SAN FULGENCIO
165,42 m2
Number of bedrooms 5
Current cost: 186.120 €

This looks like a reasonable place to me, but I feel that the asking price needs to drop another 30K to make it reasonable value:
http://www.servihabitat.com/svhPortal?action=detail&method=doDetail&idioma=3&idOperacion=792490

ST. HAYA, 1, MORALET
178,73 m2
Number of bedrooms 3
Current cost: 255.600 €

This one is in a great area, but is truly horrible. The photo’s don’t show much, but it is one of the least desirable properties I have ever seen. With a lot of work it could be made reasonably nice, but never great. I think this is really worth about 60K:
http://www.servihabitat.com/svhPortal?action=detail&method=doDetail&idioma=3&idOperacion=784101
PARTIDA MAITINO, POLIGONO 2, 189, ELCHE
256 m2
Number of bedrooms 4
Current cost: 108.630 €

[Anonymous]

I’ve had a look their site for my area of interest (Malaga) and the prices do indeed seem to be lower. In Mijas they now seem to be asking 1200-1300/M2. Previously they were in around the 1400 mark.

I take it those prices are still very negociable despite what they may say publicly?

[Author]

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