BajaNomad

Club Marena Condo Purchase

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bajaguy - 3-7-2011 at 08:31 PM

Quote:
Originally posted by Gypsy Jan
"And There is Everything Else."

Or, so I have been told.

Comment?

GJ





Waterfront = maintenance

Maintenance is Just Like a Boat

Gypsy Jan - 3-7-2011 at 08:32 PM

Everyday.

Don't understand- Waterfront

lookingandbuying - 3-7-2011 at 08:50 PM

Agree, waterfront = maintenance, but in a condo the HOA fees should cover all of these costs anyway so it would be a non-event in this case.

For me, don't particularly like anything between me and the view of the waves and white water...nada! I would rather pay the price, whatever that may be, to not only fully view the ocean waves but to also fully hear and feel them all night long. Nothing better than that in my mind. :bounce::bounce:

JumpJoey - 3-7-2011 at 10:08 PM

I think this has been a very interesting thread. I`ve driven down to Baja Sur for the past 15 years each winter and have often wondered about the Gringos who own property in Mexico and how they fare with the government there and dealing with legal issues. I don`t think I have the temperment for dealing with the officials there. But that is just my viewpoint and I do not mean to imply that other people are crazy for buying property there. I have met some people in Loreto who seem a bit stuck there and would love to unload their {their?} property so they can return to the US . I think these are expats who threw their whole nut into a place in Baja with just enough monthly cash to get by , but now their place is worth less than they paid for it.

The fact that this particular buyer is willing to throw down $580000 is his business . The advice others here have given regarding him getting his own representation to guide the sale and his best interests, is good advice indeed.

tripledigitken - 3-7-2011 at 10:41 PM

Quote:
Originally posted by lookingandbuying
Agree, waterfront = maintenance, but in a condo the HOA fees should cover all of these costs anyway so it would be a non-event in this case.

For me, don't particularly like anything between me and the view of the waves and white water...nada! I would rather pay the price, whatever that may be, to not only fully view the ocean waves but to also fully hear and feel them all night long. Nothing better than that in my mind. :bounce::bounce:


How much of those HOA's due you think the management is collecting these days? 50%......40%?

lookingandbuying - 3-8-2011 at 12:08 AM

Quote:
Originally posted by tripledigitken
Quote:
Originally posted by lookingandbuying
Agree, waterfront = maintenance, but in a condo the HOA fees should cover all of these costs anyway so it would be a non-event in this case.

For me, don't particularly like anything between me and the view of the waves and white water...nada! I would rather pay the price, whatever that may be, to not only fully view the ocean waves but to also fully hear and feel them all night long. Nothing better than that in my mind. :bounce::bounce:


How much of those HOA's due you think the management is collecting these days? 50%......40%?


If you are asking how much is management collecting each month as a percent of the total owners versus those owners that are either late or in default on their HOA dues, I would think it is a much higher percentage, more like 85 to 90%, or more. I would assume the association has the right to foreclose on owners that are in arrears on their HOA fees and this should motivate people to keep current on their HOA fees. To fully determine this figure a person would need to review the minutes of the quarterly association meetings as I am sure this is a topic discussed.

As from everything I have heard/seen the grounds and maintenance appear to maintained in good order. This would indicate that there is ample HOA fees collected to cover these on-going expenses.

I would want to look at the association minutes to determine if there have been any special assessments made to cover shortfalls related to the expenses required to maintain the place. This may also indicate to you if you should expect any future special assessments etc. if there are any comments related to deferred upkeep issues.

Looking at the minutes of the association and the financial statements and balance sheet is a MUST for anyone interested in buying into a condo. The review should also include inquiring about any pending or threatened litigation or claims. Besides reviewing the written records it would be a good idea to talk to the manager/president of the association and also the attorney the association uses.

I would also want to talk to as many owners of units as possible and ask them what types of problems or issues there are that concern them.

Lastly, I would want to know how many of the units are owner occupied versus rentals (even if some of the owners are only there on weekends).

If your question relates to how much of the HOA fees is spent on management as a percentage of total collected HOA fees? Who knows, but, this could be determined by looking over the financial statement of the association.

tripledigitken - 3-8-2011 at 03:28 AM

The research you recommend is one that would be easily accomplished in the US, in Mexico maybe.

My guess of percentage of HOA's fees collected relates to the occupancy of the project. Just how many have walked away during the recent downturn after not being able to sell their properties?

How many have decided that they don't want to live in Baja Norte anymore and moved back north leaving all obligations behind?

By all means, if you can afford to spend the bucks and then throw in the towel a couple of years down the line and head back NOB, jump in. However, if you need to get that investment back out in order to live back NOB, very risky IMO.

Try to find a few people that have bought RE in Mexico in the last 10 years and have sold and got their investment back.

Ken

Bajafun777 - 3-10-2011 at 07:32 AM

I thought of buying at one time before I retired in Mexico but instead starting leasing for the time I spend there. It is better for me and still gives me the flexabilty to jump to other places if one comes up when the lease expires. I have found that people in the complexs where numerous homes are with HOA fees give you "The Good, The BAD & The Ugly" information over a few beers at the jacuzzi if you start talking to them,LOL> Too much Baja and yes Mainland too, I want to experience too much to just stay in one place at the current time. My wife and I are getting ready to drive all the way to Puerto Vallarta in a few weeks. We have driven down to Maztalan about 7 times now, as she has a cousin living in Los Mochis that we check on along with helping out. My wants and needs change as I get older and never really thought about those changes while younger, OMG getting older does take us down different paths than what we thought, huh? LOL Take Care and Travel Safe "No Hurry, No Worry, Just FUN" bajafun777

mcfez - 3-10-2011 at 08:31 AM

In case some of you didnt read ALL the posts here....this Bozo is NOT looking for your input. Read the below and then save some typing effort.
Quote:
Originally posted by mcfez
Quote:
Originally posted by lwpa
I agree that I probably made a mistake in asking for advice in this forum. Most seem to be focused on the price which they consider high not even knowing the development or what similar comps have sold for in the past year.

This condo is a second home for us to be used probably at most 6 months a yr. We never said we were staying all year long. I am not uninformed about Club Marena in particular or Northern Baja in general. We have been renting at Club Marena for over 10 years, and have rented at 4 other locations for another 10 years. I have been visiting Baja for over 40 yrs..

As stated by some, when I posted my mind was probably already made up as I said we had already signed a purchase agreement. Why did I ask for advice then? I was hoping someone knowledgable would provide some tips about the closing process. Instead most commented on what they consider an extremely large amount of cash for something that wasn't worth the price without any knowledge of my personal financial condition or the particular condo.


Perhaps you should had made this all clear in your original post, and save the helpful ones (us) the time. Thanks for your ungrateful response in this post above. I sure wont ever respond to any of your future postings...you freakin Dolt





[Edited on 3-10-2011 by mcfez]

Woooosh - 3-10-2011 at 10:11 AM

Quote:
Originally posted by tripledigitken
Try to find a few people that have bought RE in Mexico in the last 10 years and have sold and got their investment back.

Ken


For the last ten years it is a short list, for the last five years there is NO list.

DENNIS - 3-10-2011 at 10:19 AM

Quote:
Originally posted by Woooosh
For the last ten years it is a short list, for the last five years there is NO list.


So true. It's definitly a "buyers market"....or would be if there were any buyers. I have neighbors up the road here who, as I heard today, are dropping the price of their house which they bought about five years back for 120,000 bucks, down to 70. Unfortunatly, the only people who will see it from the road will be a bunch of tourists looking out the windows of a tour bus from the cruise ships.

Woooosh - 3-10-2011 at 10:45 AM

Quote:
Originally posted by bajaguy
Quote:
Originally posted by Gypsy Jan
"And There is Everything Else."

Or, so I have been told.

Comment?

GJ




Waterfront = maintenance


Yup, oceanfront is a lot of work. You can reduce it some by choosing the correct building materials (think cement block, plastics and cast aluminum). Even so it is def worth it.

The latent salt in the air is brutal on everything indoors too. Computers, TV's, stereo systems all have a limited life
when oceanfront- nothing you can do about it unless you seal the house tight (and what's the point of that?). After 15 years of living oceanfront or a few houses off- I now buy everything mid-grade quality and factory refurbished if I can find it. "Wet Rated" does not mean oceanfront rated either.

I have a worker two days a week- year round and all he does it paint and maintain the house- by the time he finishes, he starts over again. Kind of like the guys who paint the Brooklyn Bridge. We do have 4200' of house with a pool to maintain though.

[Edited on 3-10-2011 by Woooosh]

Woooosh - 3-12-2011 at 12:41 AM

http://tijuana.en.craigslist.com.mx/reb/2229336910.html

think it is this penthouse?

DENNIS - 3-12-2011 at 06:09 AM

Quote:
Originally posted by Woooosh
http://tijuana.en.craigslist.com.mx/reb/2229336910.html

think it is this penthouse?



Good find, Woooosh. Man....that place is nice.

vandenberg - 3-12-2011 at 07:50 AM

And here I was always under the impression that Graigslist was for po'folk.:?::biggrin::biggrin:

mcfez - 3-12-2011 at 08:04 AM

Quote:
Originally posted by DENNIS
Quote:
Originally posted by Woooosh
http://tijuana.en.craigslist.com.mx/reb/2229336910.html

think it is this penthouse?



Good find, Woooosh. Man....that place is nice.


Wow...I say good find. The ad was just listed 2011-02-22
This topic was posted just a week after the ad. Odd......

[Edited on 3-12-2011 by mcfez]

Bajafun777 - 3-12-2011 at 10:06 AM

LOL, mcfez I think you are on the right track with just letting those that kick you away in deep water swim on their own or drown is right in this thread. Just because you sign a brief document and a very small deposit does not mean you are LOCKED into the sell. The escrow and other Mexico requirements have not been meant yet, unless this poster left out more details than stated on the very first post. With that said it looks like they like what they have and money is no object, so I would say "BUY, BUY, BUY' hell it's only money,LOL. In the end you will still have great BAJA to take your mind off the money you apparently have so much of you do not worry about it,hmmmmmmmm,LOL!! Like Kid Rock's song says "No Need To Be Mean" opps I better stop as the song goes into much more detail, ahhh life don't you just love the INS & OUTS. Take Care & Travel Safe "No Hurry, No Worry, Just FUN" bajafun777

Woooosh - 3-12-2011 at 10:14 AM

Quote:
Originally posted by mcfez
Quote:
Originally posted by DENNIS
Quote:
Originally posted by Woooosh
http://tijuana.en.craigslist.com.mx/reb/2229336910.html

think it is this penthouse?



Good find, Woooosh. Man....that place is nice.


Wow...I say good find. The ad was just listed 2011-02-22
This topic was posted just a week after the ad. Odd......

[Edited on 3-12-2011 by mcfez]


I'm no interior designer- but this remodel makes it look like a mexi-trash narco hangout. A mix of tech and tacky with no design theme or appeal besides the awesome view.

[Edited on 3-12-2011 by Woooosh]

monoloco - 3-12-2011 at 10:17 AM

I was thinking the same thing.

DENNIS - 3-12-2011 at 10:22 AM

Yeah....but it's nice trash in a few of the rooms. I didn't care for all the sinister black, but for one who entertains thoughts of suicide now and again, the place does have value. :yes:

Woooosh - 3-12-2011 at 10:25 AM

Quote:
Originally posted by vandenberg
And here I was always under the impression that Graigslist was for po'folk.:?::biggrin::biggrin:

Craigslist has the advantage of being both free and anonymous- and Mexican sellers can't resist either of those.

I did find my house lot in Rosarito on Craigslist, and I bought a condo in Colorado from a Craigslist ad. This was all more than seven years ago though when Craigslist was used more by techie SF Bay area professionals than scam artists and hookers. Nothing good lasts forever.

mtgoat666 - 3-12-2011 at 10:26 AM

i like it. for contemporary condo, place looks nice. if you don't like that style, stick to your style (or dusty mice-infested trailer, as case may be)

krafty - 3-12-2011 at 10:29 AM

Looks cold and stark, altho I loved the sauna and terrace

Bajahowodd - 3-12-2011 at 04:54 PM

Looks like something Charlie Sheen would live in with his porn stars.

Are we going to close?? Maybe he will have a party and invite us?

lookingandbuying - 3-12-2011 at 10:02 PM

Below are some of the listings in this building. You will see that the one listed about six slots down is marked as "SALE PENDING". This notation was not there a week or so ago. Looks like a REAL buyer has come in and at least is at the stage of having an accepted offer and most likely placing a deposit on the place also. To me it would appear that the original poster has started the process of actually buying the place. Good-luck to him and I hope him and the family fully enjoy being there.

And I had thought the days of $1/2 Million dollar places were a thing of the past in Baja...then BAM!! Guy presents offer and is actually trying to close on a Condo that exceeds my expectations. I have to say, if looking through the prism of what the value would be on a place like this NOB, you can see why the guy thinks it's cheap and pulls the trigger. Though I really do not believe a person should make ANY comparison of what the costs would be NOB versus a place in Baja. Even if it's biiger, nicer and has a better view.

Viva la Mexico!!! :tumble::spingrin::yes::wow::cool:

Price Photo City Neighborhood Style Type
View
(12 Photos) $985,000 USD Rosarito Club Marena at km38.5 Single Story Condominium
View
(23 Photos) $985,000 USD Rosarito Club Marena at km38.5 Single Story Condominium
View
(10 Photos) $950,000 USD Playas de Rosarito Club Marena at km38.5 Single Story Condominium
View
(10 Photos) $770,000 USD Playas de Rosarito Club Marena at km38.5 Single Story Condominium
View
(10 Photos) $600,000 USD Playas de Rosarito Club Marena at km38.5 Single Story Residential
View
(32 Photos) SALE PENDING
$598,500 USD Sale Pending
Rosarito Club Marena at km38.5 2 Story "Private Elevator" Residential
View
(21 Photos) $595,000 USD Playas de Rosarito Club Marena at km38.5 Single Story Residential
View
(36 Photos) $595,000 USD Rosarito Club Marena at km38.5 Single Story "Simply Beautiful" Condominium
View
(34 Photos) $580,000 USD Rosarito Club Marena at km38.5 Single Story "2nd Floor" Residential
View
(24 Photos) $499,000 USD Rosarito Club Marena at km38.5 Single Story "All One Level" Residential
View
(16 Photos) $498,500 USD Rosarito Club Marena at km38.5 2 Story Residential
View
(30 Photos) $495,000 USD Playas de Rosarito Club Marena at km38.5 Single Story "no stairs" Residential
View
(14 Photos) $459,000 USD Rosarito Club Marena at km38.5 Single Story "Luxury Condo" Residential
View
(20 Photos) $448,500 USD Rosarito Club Marena at km38.5 Single Story Residential
View
(17 Photos) $429,500 USD Playas de Rosarito Club Marena at km38.5 Single Story Condominium
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