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  • March 16, 2009 at 4:43 PM #367861
    Scarlett
    Participant

    [quote=jpinpb] I’ve been posting NODs in Barcelona and the prices are starting to come down in that community. I imagine eventually it will spread to Madrid [/quote]

    Where did you post the NODs in Barcelona, please, jp?

    thanks!

    March 16, 2009 at 5:13 PM #367289
    Scarlett
    Participant

    Many rentals in Barcelona, according to craigslist. Not so in Madrid. I’ve been watching the craigslist for a while. I think if they bought at the peak, renting will not make it positive cash flow. The owners thought they could wait it out by renting, but it starts to eat up those reserves they had, thus getting NODs. At peak those houses in Barcelona were well over 700K, some 750Ks… Renting it for only mid 2000s would not cut it unless they put a huge chunk down – again, not that common in the bubble…

    March 16, 2009 at 5:13 PM #367577
    Scarlett
    Participant

    Many rentals in Barcelona, according to craigslist. Not so in Madrid. I’ve been watching the craigslist for a while. I think if they bought at the peak, renting will not make it positive cash flow. The owners thought they could wait it out by renting, but it starts to eat up those reserves they had, thus getting NODs. At peak those houses in Barcelona were well over 700K, some 750Ks… Renting it for only mid 2000s would not cut it unless they put a huge chunk down – again, not that common in the bubble…

    March 16, 2009 at 5:13 PM #367744
    Scarlett
    Participant

    Many rentals in Barcelona, according to craigslist. Not so in Madrid. I’ve been watching the craigslist for a while. I think if they bought at the peak, renting will not make it positive cash flow. The owners thought they could wait it out by renting, but it starts to eat up those reserves they had, thus getting NODs. At peak those houses in Barcelona were well over 700K, some 750Ks… Renting it for only mid 2000s would not cut it unless they put a huge chunk down – again, not that common in the bubble…

    March 16, 2009 at 5:13 PM #367780
    Scarlett
    Participant

    Many rentals in Barcelona, according to craigslist. Not so in Madrid. I’ve been watching the craigslist for a while. I think if they bought at the peak, renting will not make it positive cash flow. The owners thought they could wait it out by renting, but it starts to eat up those reserves they had, thus getting NODs. At peak those houses in Barcelona were well over 700K, some 750Ks… Renting it for only mid 2000s would not cut it unless they put a huge chunk down – again, not that common in the bubble…

    March 16, 2009 at 5:13 PM #367896
    Scarlett
    Participant

    Many rentals in Barcelona, according to craigslist. Not so in Madrid. I’ve been watching the craigslist for a while. I think if they bought at the peak, renting will not make it positive cash flow. The owners thought they could wait it out by renting, but it starts to eat up those reserves they had, thus getting NODs. At peak those houses in Barcelona were well over 700K, some 750Ks… Renting it for only mid 2000s would not cut it unless they put a huge chunk down – again, not that common in the bubble…

    March 16, 2009 at 6:39 PM #367294
    jpinpb
    Participant

    3932 Caminito Amparo has a NOD. It went pending, listed at 500k. This will be the new comp in the area.

    If you do a search for that ZIP on SDL, you will see, I’m pretty sure I marked other NODs there, but I’m not 100% sure. Hard to keep track sometimes. I’d have to dig around.

    Some of them are priced high and keep relisting, but languishing b/c they’re just not moving. An example is 4004 Caminito Suero listed in 2007 for 685k. They removed it. It is stealth. It will NOT sell at that price. There are other places in Barcelona listed for under 600k now.

    7110 Caminito Zabala listed for 550k. 3919 Caminito Silvela listed for 575k.

    I’m certain there will more NODs to come. This was an old thread from last year regarding Barcelona.

    March 16, 2009 at 6:39 PM #367582
    jpinpb
    Participant

    3932 Caminito Amparo has a NOD. It went pending, listed at 500k. This will be the new comp in the area.

    If you do a search for that ZIP on SDL, you will see, I’m pretty sure I marked other NODs there, but I’m not 100% sure. Hard to keep track sometimes. I’d have to dig around.

    Some of them are priced high and keep relisting, but languishing b/c they’re just not moving. An example is 4004 Caminito Suero listed in 2007 for 685k. They removed it. It is stealth. It will NOT sell at that price. There are other places in Barcelona listed for under 600k now.

    7110 Caminito Zabala listed for 550k. 3919 Caminito Silvela listed for 575k.

    I’m certain there will more NODs to come. This was an old thread from last year regarding Barcelona.

    March 16, 2009 at 6:39 PM #367749
    jpinpb
    Participant

    3932 Caminito Amparo has a NOD. It went pending, listed at 500k. This will be the new comp in the area.

    If you do a search for that ZIP on SDL, you will see, I’m pretty sure I marked other NODs there, but I’m not 100% sure. Hard to keep track sometimes. I’d have to dig around.

    Some of them are priced high and keep relisting, but languishing b/c they’re just not moving. An example is 4004 Caminito Suero listed in 2007 for 685k. They removed it. It is stealth. It will NOT sell at that price. There are other places in Barcelona listed for under 600k now.

    7110 Caminito Zabala listed for 550k. 3919 Caminito Silvela listed for 575k.

    I’m certain there will more NODs to come. This was an old thread from last year regarding Barcelona.

    March 16, 2009 at 6:39 PM #367785
    jpinpb
    Participant

    3932 Caminito Amparo has a NOD. It went pending, listed at 500k. This will be the new comp in the area.

    If you do a search for that ZIP on SDL, you will see, I’m pretty sure I marked other NODs there, but I’m not 100% sure. Hard to keep track sometimes. I’d have to dig around.

    Some of them are priced high and keep relisting, but languishing b/c they’re just not moving. An example is 4004 Caminito Suero listed in 2007 for 685k. They removed it. It is stealth. It will NOT sell at that price. There are other places in Barcelona listed for under 600k now.

    7110 Caminito Zabala listed for 550k. 3919 Caminito Silvela listed for 575k.

    I’m certain there will more NODs to come. This was an old thread from last year regarding Barcelona.

    March 16, 2009 at 6:39 PM #367901
    jpinpb
    Participant

    3932 Caminito Amparo has a NOD. It went pending, listed at 500k. This will be the new comp in the area.

    If you do a search for that ZIP on SDL, you will see, I’m pretty sure I marked other NODs there, but I’m not 100% sure. Hard to keep track sometimes. I’d have to dig around.

    Some of them are priced high and keep relisting, but languishing b/c they’re just not moving. An example is 4004 Caminito Suero listed in 2007 for 685k. They removed it. It is stealth. It will NOT sell at that price. There are other places in Barcelona listed for under 600k now.

    7110 Caminito Zabala listed for 550k. 3919 Caminito Silvela listed for 575k.

    I’m certain there will more NODs to come. This was an old thread from last year regarding Barcelona.

    March 16, 2009 at 11:28 PM #367509
    SD Realtor
    Participant

    jp I have been tracking Calabria for a client. He really wants to be in Renaissance in a big way. He is not hung up on Calabria but he has been stuck on it lately and really likes the 1600 sf floorplan. The is an REO put out by Dennis Desouza for this floorplan at 504k. Not bad compared to past pricing. However I think that we need another year or two to see some nice drops. Maybe by late summer we will see some high 400s for the same floorplan, maybe summer of 2010 we see mid 400s depending on how things go economically.

    March 16, 2009 at 11:28 PM #367797
    SD Realtor
    Participant

    jp I have been tracking Calabria for a client. He really wants to be in Renaissance in a big way. He is not hung up on Calabria but he has been stuck on it lately and really likes the 1600 sf floorplan. The is an REO put out by Dennis Desouza for this floorplan at 504k. Not bad compared to past pricing. However I think that we need another year or two to see some nice drops. Maybe by late summer we will see some high 400s for the same floorplan, maybe summer of 2010 we see mid 400s depending on how things go economically.

    March 16, 2009 at 11:28 PM #367964
    SD Realtor
    Participant

    jp I have been tracking Calabria for a client. He really wants to be in Renaissance in a big way. He is not hung up on Calabria but he has been stuck on it lately and really likes the 1600 sf floorplan. The is an REO put out by Dennis Desouza for this floorplan at 504k. Not bad compared to past pricing. However I think that we need another year or two to see some nice drops. Maybe by late summer we will see some high 400s for the same floorplan, maybe summer of 2010 we see mid 400s depending on how things go economically.

    March 16, 2009 at 11:28 PM #368001
    SD Realtor
    Participant

    jp I have been tracking Calabria for a client. He really wants to be in Renaissance in a big way. He is not hung up on Calabria but he has been stuck on it lately and really likes the 1600 sf floorplan. The is an REO put out by Dennis Desouza for this floorplan at 504k. Not bad compared to past pricing. However I think that we need another year or two to see some nice drops. Maybe by late summer we will see some high 400s for the same floorplan, maybe summer of 2010 we see mid 400s depending on how things go economically.

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