Spanish Property Insight › Forums › Spanish Property Forums › Spanish Real Estate Chatter › Santander will "price to sell" its real estate portfolio › Re: Re: Santander will “price to sell” its real estate portfolio
I can well understand the frustration of having bought a property near the peak of the market and then finding its value dropping. It hasn’t happened often, but happened to me personally in 1989. I couldn’t believe it at the time, in fact I refused to believe it for quite a while.
I tried testing the market and found a queue of ‘Logans’ at my door, offering me silly money for my precious house. I was able to keep the house on and its value recovered some five years later.
Taking all the other financial factors into account, I should probably have sold it at a loss and saved myself five years of uncertainty, but I didn’t think that way at the time. I consoled myself at the time by watching the real big failures during that recession; Maxwell, Walker, the guy who fled to Cyprus and millions of others, who had lost far more than little me and my silly little house.
I do think Logan adds value to the discussions on this forum.