Spanish Bank assessts

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    • #57034
      Anonymous
      Participant

      one hears frequently about banks having property assests which they cannot sell, only today I read MARK being quoted as “The properties that banks fail to sell before the onset of winter will hang around on their balance sheets until at least the spring next year, when the holiday-home market gets going again. This stock is expensive to maintain, giving banks an incentive to drop prices now in order to make a sale”……

      Are other banks in Portugal, Italy, Greece doing same thing

      Does anyone know how to find out what these bank assets are? Is there a list, register, website?

    • #111937
      Anonymous
      Participant
    • #111938
      Anonymous
      Participant
    • #111939
      DBMarcos99
      Participant

      Those “assets” may soon become property of what is called a Bad Bank

      http://www.bbc.co.uk/news/business-19437308

      The Bank of Spain will assess the value of the assets being transferred into the “banco malo” and the banks will receive cash, debt or shares in return, said economy minister Luis de Guindos.

      Of course the ‘Bad Bank’ will be expected to sell off those assets at a later date, and to make a profit! I believe this was the theory behind what happened with Northern Rock.

    • #111952
      Anonymous
      Participant

      thats was interesting and useful
      But the man in the street does not have easy access of the repossession assets list still…..they are not helping themselves really!!
      🙁

    • #111953
      Anonymous
      Participant

      @boothy wrote:

      here it is – nice views

      http://www.tripadvisor.co.uk/Hotel_Review-g673858-d1191707-Reviews-Apartamento_Punta_Paloma_Golf-Manilva_Costa_del_Sol_Andalucia.html

      they look nice enough for 70% discount……but who knew of this?

    • #111954
      Anonymous
      Participant

      @DBMarcos99 wrote:

      Those “assets” may soon become property of what is called a Bad Bank

      http://www.bbc.co.uk/news/business-19437308

      The Bank of Spain will assess the value of the assets being transferred into the “banco malo” and the banks will receive cash, debt or shares in return, said economy minister Luis de Guindos.

      Of course the ‘Bad Bank’ will be expected to sell off those assets at a later date, and to make a profit! I believe this was the theory behind what happened with Northern Rock.

      Interesting news, but you.re right, this will not help the situation but just hide it

    • #111955
      katy
      Blocked

      It is not always the size of the discount that is important as some of these apartments were vastly overpriced at the start. I certainly don’t think they are much of a bargain seeing as it’s a Manilva location 🙄

    • #111956
      Anonymous
      Participant

      @katy wrote:

      It is not always the size of the discount that is important as some of these apartments were vastly overpriced at the start. I certainly don’t think they are much of a bargain seeing as it’s a Manilva location 🙄

      you’re right, pricing has a lot to do with current situation faced by banks. Greed got the better of them and now everyone has to pay
      Sounds like you are familiar with Manilva, etc do you live in Spain?

    • #111957
      katy
      Blocked

      Recent returner but I lived there 15 years 😀

    • #111958
      Anonymous
      Participant

      @katy wrote:

      Recent returner but I lived there 15 years 😀

      wow….15 years…during the better times…..what brought you back…not the weather! 😀

    • #111970
      Chopera
      Participant

      @leo450 wrote:

      one hears frequently about banks having property assests which they cannot sell, only today I read MARK being quoted as “The properties that banks fail to sell before the onset of winter will hang around on their balance sheets until at least the spring next year, when the holiday-home market gets going again. This stock is expensive to maintain, giving banks an incentive to drop prices now in order to make a sale”……

      Are other banks in Portugal, Italy, Greece doing same thing

      Does anyone know how to find out what these bank assets are? Is there a list, register, website?

      idealista.com is the biggest portal in Spain and it allows you to filter for repossesions (“de bancos y cajas”)

      Otherwise just pick a Spanish bank, go to their web page and there will usually be a link to their property site.

    • #111986
      Anonymous
      Participant

      @Chopera wrote:

      @leo450 wrote:

      one hears frequently about banks having property assests which they cannot sell, only today I read MARK being quoted as “The properties that banks fail to sell before the onset of winter will hang around on their balance sheets until at least the spring next year, when the holiday-home market gets going again. This stock is expensive to maintain, giving banks an incentive to drop prices now in order to make a sale”……

      Are other banks in Portugal, Italy, Greece doing same thing

      Does anyone know how to find out what these bank assets are? Is there a list, register, website?

      idealista.com is the biggest portal in Spain and it allows you to filter for repossesions (“de bancos y cajas”)

      Otherwise just pick a Spanish bank, go to their web page and there will usually be a link to their property site.

      excellent, thanks
      Do you know names of any typical banks?
      cheers

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