The Banks Land Banks:foreclosed-homes-may-flood-spanish-mark

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    • #55993
      eddygon
      Participant

      Would like to hear more and know more about where and how the seeling of these works in Spain:
      http://www.bloomberg.com/news/2010-11-24/foreclosed-homes-may-flood-spanish-market-as-banks-offload-unwanted-assets.html

    • #101663
      Anonymous
      Participant

      I wonder if this has already started, ie banks off-loading properties onto the market.

      In previous posts where I have quoted Fotocasa results, I post the number of adverts returned in the search page. However, Fotocasa on their main home page show the total number of properties on their site and the number of new properties posted today. Here’s the number at 15:00 UK time

      684.904 inmuebles | 14.845 nuevos hoy

      The normal number of new properties that it quotes as added “today” is around the 3000-5000 mark. Yesterday is showed nearly 30,000, and now it’s showing almost 15,000,

      At first I thought Fotocasa stats were wrong, but I now believe that for a professional advertiser who lists maybe 50 properties under 1 adverts then in the search results this is included as only 1 property as it’s under one advert.

      Hence you get 3 types of stats from the site:-

      The number of adverts
      The number of properties
      The number of new properties added today.

      So that is why I have seen the number for “The number of new properties added today” increase massively but the number of search results only increase slightly.

      So it looks like between yesterday and today 45,000 properties have been added to fotocasa!!!!!!!

      The flooding is starting!

    • #101676
      adiep
      Participant

      jp, ive noticed the same. Whole blocks of apartments are coming onto the market, BBVA dropped 20 onto idealista the other day, which is actually quite a lot for the centre of La Linea.

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