Banks And Houses

[HDRIDER]

Hi

I friend get a lot of papers from banks every week, i can’t read it but its houses that banks are repossessing some very nice houses some not nice at all, my friend say he has never seen so many before, and he can see there is a lot of Farang houses, have you heard the same, well i can see it with my own eyes there is a lot of very nice houses, maybe time for people to buy a cheap house now

[trogers]

And a foreigner can now get a legal title to landed properties?

[HDRIDER]

Hi

I dont think so, but this have never stopped people to buy a house, has it???

[LivinLOS]

I personally think we are a long long way from being out the woods on this credit crisis in the west and expect a double dip and lots more pain.

With that mindset its a case of if you think they are distressed sales now, wait till you see it really get rolling.

[LivinginKata]

Moved to from Phuket Forum to Real Estate, housing, house and land ownership forum. Should increase the number of readers & replies.

[PattayaParent]

And a foreigner can now get a legal title to landed properties?

Foreigners have always been able to buy houses. What do you think has changed?

[trogers]

And a foreigner can now get a legal title to landed properties?

Foreigners have always been able to buy houses. What do you think has changed?

My question refers to 'Legal Title', and not ability to buy...

[LennyW]

Nothing new here, the banks have always had loads of repo properties for sale/auction, the Kasikorn bank (Thai Farmer Bank), used to produce a book every 3 months or so with all it's repo properties, even 6 or 7 years ago this book was 100+ pages thick, now they have it online instead of printed version.

Like i said, nothing new here.

[HDRIDER]

Nothing new here, the banks have always had loads of repo properties for sale/auction, the Kasikorn bank (Thai Farmer Bank), used to produce a book every 3 months or so with all it's repo properties, even 6 or 7 years ago this book was 100+ pages thick, now they have it online instead of printed version.

Like i said, nothing new here.

Hi

Not new i know been going on for years BUT there is just so many now (this is Phuket) he has never seen so many before

[katabeachbum]

Nothing new here, the banks have always had loads of repo properties for sale/auction, the Kasikorn bank (Thai Farmer Bank), used to produce a book every 3 months or so with all it's repo properties, even 6 or 7 years ago this book was 100+ pages thick, now they have it online instead of printed version.

Like i said, nothing new here.

Hi

Not new i know been going on for years BUT there is just so many now (this is Phuket) he has never seen so many before

Phuket is a unique property market, since so few properties are financed. A couple of years back almost nothing was available in Phuket banks, but now some are. There seem to be more properties availbale on auctions due to owners bankrupcy (carloans/creditcards/taxes etc) rather than home loans not being payed. I still see the actual selling prices in Phuket at auctions are rather high.