BajaNomad - US Real Estate downturn, Mexican market

US Real Estate downturn, Mexican market

rogerj1 - 5-19-2008 at 07:17 PM

This is part of an article from a Real Estate agent in Puerto Vallarta talking about their market. Basically, they don't see the downturn in the US affecting Puerto Vallarta. What else are they going to say, they're biased, right? They're conveniently overlooking 2nd home buyers who've tapped into their primary homes to get the money to pay cash for property in Mexico. I can't imagine that the average buyer in Mexico is in the position to pay cash for real estate. How many people pay cash for homes in the US? We're going through a deleveraging cycle in residential real estate that may take longer to unwind than most people expect. Moody's economy.com doesn't project a bottom until mid 2009. Am I wrong to think that real estate in Mexico could get a lot cheaper before this is over and done with? :?:

"US Real Estate Turndown – How Does This Affect Vallarta?

What seems to be on the mind of everyone I’ve talked to is how the slowdown north of the border will influence our local market. Many areas of the United States have been affected by a fall-out in key real estate markets, triggered by the abuse of subprime and other adjustable-rate mortgages. Borrowers either bought or refinanced homes with subprime loans that offered artificially low introductory rates. Now facing re-pricing, borrowers are experiencing their payments doubling or are having to pay off large balloon payments, just as their homes values are declining.

So how is that affecting Vallarta’s market? First, Vallarta’s real estate market has been driven primarily as “cash-only” – mortgage financing yet to become really popular or necessary for many purchasers. Most realtors we spoke to said that less than 10% of their sales involve financing, except for new product developments, which may offer short-term financing. So, Vallarta doesn’t have to worry about a subprime meltdown; it doesn’t exist here.

What has proven to be the primary reason for the turndown north of the border has actually protected our local market, because of the fact that financing is still difficult to get in Vallarta. Realtors report that it still takes too long to obtain approved financing and not enough has been done to improve the overall application process. There are good brokers, and there are not-so-good brokers, and finding the right one can make a world of difference. But it still is not working as efficiently as all would like to see it.

Second, the people caught up in this subprime meltdown got there because they couldn’t afford the terms of a regular mortgage or even the down payment. This has never been, nor will it be any time soon, the profile of the typical Vallarta homebuyer. Americans who have the money to buy a second home still have that money – this turn in the market has not affected them to any great extent."

bancoduo - 5-19-2008 at 07:32 PM

Not so sure. Lots of people used the equity in there US homes to make purchases of property in Mex, that's over for a while. It will hurt RE in Mex.

Don't listen to me, I'm drinking again. You should listen to your reputable, FRIENDLY real estate agent in PV. :biggrin:

bobw - 5-19-2008 at 07:55 PM

I think that there will be surprising movement in the Mexican markets. Not all potential buyers are over leveraged. Once the fire sales start as people try to sell of their vacation properties to save their homes, a whole group of buyers will show up to help them out.

That most certainly is my plan; I'll wait another year or two for the market to get hungry and hopefully find what I want at a much more reasonable price than what gets listed these days.

oxxo - 5-19-2008 at 08:21 PM

I was just talking to a realtor friend of mine in Los Cabos about this very thing. The market in Los Cabos is dead, dead, dead. She is a member of the Los Cabos realtor group (sort of like MLS) and it is the same in all the offices. Sales are off 80% and more from 2 years ago.

She is hoping that the market will experience some rebound after the Presidential elections. A few Canadians have stepped into the breech and are doing a little buying.

I know several people here in the Los Cabos area who have put their places for sale - inventory is high - but they are not panicking yet. None of them I know HAVE to sell.

Prices remain firm - but nothing is selling. Go figure!

bajaguy - 5-19-2008 at 08:25 PM

Well, if sales are slow, they will just raise the prices

CortezBlue - 5-19-2008 at 09:01 PM

You forgot one major thing!

Canada

The Canadian dollar is in a superior position and they are buying land both here in the USA and Mexico, cheap.

bobw - 5-20-2008 at 06:04 PM

Quote:

Originally posted by CortezBlue
You forgot one major thing!

Canada

The Canadian dollar is in a superior position and they are buying land both here in the USA and Mexico, cheap.

But you forgot one thing...

CFCs... Cheap F*&%^ Canadians :spingrin:

Canadians from around here seem to be trying to solve the real estate crisis in Arizona right now... the adventurous ones are looking at Nevada as well.

wilderone - 5-20-2008 at 06:50 PM

They're about 10 years too late. But we'll take their money.

rogerj1 - 5-20-2008 at 11:20 PM

You're right, I hadn't thought about the Canadians. I'd read an article several months ago about Canadians buying in the Phoenix area with the jist being that there wasn't sufficient buyers to dent the huge supply created by overbuilding and the impact of foreclosures. Anyone familiar with Canadian buying in Mexico? Is it stable, increasing?

oxxo - 5-21-2008 at 06:13 AM

Quote:

Originally posted by oxxo
A few Canadians have stepped into the breech and are doing a little buying.

Woooosh - 5-21-2008 at 12:11 PM

Resorts have a real estate market unto themsleves- independent of what is happening elsewhere. I have aproperty in a Colorado ski resort that is still apprerciating in value- while people in the Denver city market are taking it in the shorts. Baja will continue to thrive although the players may change accents.

Cypress - 5-21-2008 at 02:37 PM

Have decided against any real estate purchase in Baja.

Reasons. 1. Overpriced. 2. Overpriced. 3. Legalities that contribute to #1 and #2.

Did I mention that the fishing is overrated? :?:

The people are wonderful! Baja is a great place to visit. :bounce:

cajhawk - 5-21-2008 at 03:00 PM

Many more Canadians in the market. As for being overpriced, it is still quite a bargain for oceanview or golf course property compared to the US. A house on the golf course WITH an oceanview and there is no comparison between most of Baja and the US with the exception of (overpriced IMHO) Cabo.

backninedan - 5-21-2008 at 03:40 PM

The market in Loreto is at a standstill, in fact several owners have lowered prices in an attempt to make a sale. I have no doubt it will recover, but 2 to 3 years recovery time is my guess. We shall see.

Mexico cannot be compared to the US

flyfishinPam - 5-22-2008 at 09:17 AM

Quote:

Originally posted by cajhawk
Many more Canadians in the market. As for being overpriced, it is still quite a bargain for oceanview or golf course property compared to the US. A house on the golf course WITH an oceanview and there is no comparison between most of Baja and the US with the exception of (overpriced IMHO) Cabo.

I don't know why potential buyers fall for this line. :rolleyes:

Mexico cannot be compared to the US.

You have to look beyond the house purchased and beyond the property perimeters to the local, state and federal government, utilities, services, medical, etc. Those things are just not in place nor are they reliable in Mexico like they are in the US.

what happens if your house gets robbed in Mexico? well those who have lived here long enough to have been through the experience will tell you, to call the police is a waste of time they do nothing of worse they actually case yur joint for future break in potential. Hire a lawyer to defend you? You will find you have no rights, price scales are different for foreigners, etc. and that's just the tip of the iceberg.

It is NOT cheaper in Mexico than in the US when you consider all of these things.

jack - 5-22-2008 at 11:21 AM

Quote:

Originally posted by flyfishinPam

I don't know why potential buyers fall for this line. :rolleyes:

flyfishinPam is 100% right, as my Dad found out when he had his house on the Baja.

I seldom get involved in this sort of thread--But

Baja Bernie - 5-22-2008 at 10:20 PM

I think you guys/gals forget one thing....It was the Canadians who pushed the prices up with their clumsy, shotgun buying in the first place.

A few of them are reasonably smart investors but the many approach investment with a club that at this moment appears to be the value of the looney.

I do believe that many of them will not be able to lie in the weeds and scoop up deals because so many of them have been tapped out by their shotgun buying.....

Just a simple mans thoughts. Two years does seem to be a reasonable time line.

bobw - 5-23-2008 at 06:48 AM

Quote:

Originally posted by Baja Bernie
I think you guys/gals forget one thing....It was the Canadians who pushed the prices up with their clumsy, shotgun buying in the first place.

A few of them are reasonably smart investors but the many approach investment with a club that at this moment appears to be the value of the looney.

No doubt that some Canadians have been off on some nasty shopping sprees. More or less, the last 3 years have seen an appreciation of about 50% between the CDN $ and the US$. A lot of people that were borderline before rushed out and bought figuring that there wouldn't be any better opportunities.

Given the drop in prices in AZ/NV/FLA there are lots of Canadians buying; think drunken sailors on shore leave levels of buying. Will they get the best prices? unlikely. But, a lot of them feel that they've got their market opportunity, so they're buying before the window closes.

Speaking for myself, I need to see prices come down substantially in the Baja before I see it as my opportunity window. Getting quoted $150 sq ft for build out is a ridiculous price, so I'm going to have to wait until I feel that the prices are more in line before I commit; hopefully that'll be before the CDN/US dollar value changes too much....

motoged - 5-23-2008 at 12:35 PM

Quote:

Originally posted by bobw

Quote:

No doubt that some Canadians have been off on some nasty shopping sprees. .....
Given the drop in prices in AZ/NV/FLA there are lots of Canadians buying; think drunken sailors on shore leave levels of buying.

So....let me get this straight.....Americans scoop real estate and it is "wise investment"....Canadians buy property with a bit more of a view than Ponoka and they are "drunken sailors" ???!!!

Maybe it's just the oil-crazed Albertans with their nouveau Texas mentality that are acting like drunken sailors....they are driving up real estate values in western Canada, as well :no:

bobw - 5-23-2008 at 04:40 PM

Quote:

Originally posted by motoged

So....let me get this straight.....Americans scoop real estate and it is "wise investment"....Canadians buy property with a bit more of a view than Ponoka and they are "drunken sailors" ???!!!

Maybe it's just the oil-crazed Albertans with their nouveau Texas mentality that are acting like drunken sailors....they are driving up real estate values in western Canada, as well :no:

Well sitting here in Calgary, maybe it's just an Alberta thing. But, yep... spending like drunken sailors is pretty accurate. Calgarians (aka "Calgreedians") have bought up all the lake properties for 5 hours drive in any direction; I see more luxury cars rolling right now than even when I did live in Texas. The money is flowing right now and most don't have the common sense to put some of it away for the inevitable lean time coming up.

woody with a view - 5-23-2008 at 04:46 PM

Quote:

The money is flowing right now and most don't have the common sense to put some of it away for the inevitable lean time coming up.

sounds like the human condition.... :?:

bobw - 5-23-2008 at 07:05 PM

Quote:

Originally posted by woody in ob

sounds like the human condition.... :?:

Sounds exactly one of the reasons I'm tired of this lifestyle... I just need a modest place close to water, some fins and snorkel and some brightly coloured fish to take pictures of....

fulano - 5-24-2008 at 11:08 AM

You won't get an honest answer about the real estate market from a Mexican real estate agent. People that bought for cash and don't need the money will just hold on to the property forever. When they pass on, their kids will sell it for 10 cents on the dollar to settle their estate. The theory of the efficient market relies upon the premise that all parties have full and perfect knowledge of all the relevant facts. In the real world, that does not happen. especially not in Mexico.

This guy sure has a beef:

http://mexico1unsafe.bravehost.com/nomex.htm

oxxo - 5-24-2008 at 11:36 AM

Quote:

Originally posted by fulano
People that bought for cash and don't need the money will just hold on to the property forever.

I just receivd this from my gringa mexican real estate agent this morning.

"As we wind down the major buying season here in Cabo, we are seeing a little activity, more so then in the past few months.

I feel potential Buyer's are realizing this is not a "fire sale market in Cabo", due to the fact that most Homeowners/Sellers did not purchase thru financing and are not suffering as our real estate markets to the north!

I feel that they have been watching prices and are seeing that if indeed they want to have a retirement or winter vacation home in the best weather in the world and close to their northern home, that our market is stable and that they will need to "jump in as it's not going down". Yes there is more inventory in Cabo, however, not in our beachfront price range, we are still in my estimation a "hidden jewel", especially once you see what is going on all around us, El Dorado, Chileno, Montage, plus two other projects in the Corridor that have not yet been announced!"

So, in my opinion, the market at least in Los Cabos has stabilized for the moment but is not going down. It will eventually start going up again with double digit appreciation, maybe as soon as the presidential elections conclude.

But I don't know, it is only my opinion, I don't have a crystal ball.

gibson - 5-25-2008 at 09:33 PM

There's still good deals to be found for those willing to 'cut a new trail' BUT do not hold your breath for 'substantial price falls' in developing areas. Not going to happen. Wanna slice where the action is? ... buy sooner than later. All hail the Canadians and their dollars !! (oh and those guys that just landed on Mars)

Barry A. - 5-25-2008 at 09:45 PM

Quote:

Originally posted by gibson
There's still good deals to be found for those willing to 'cut a new trail' BUT do not hold your breath for 'substantial price falls' in developing areas. Not going to happen. Wanna slice where the action is? ... buy sooner than later. All hail the Canadians and their dollars !! (oh and those guys that just landed on Mars)

No "guys", just a machine, but still pretty exciting and amazing!!!! I agree with your real estate analysis, tho.

barry

gibson - 5-25-2008 at 10:41 PM

I hail man (millions of evolutionary years) not machine.

Barry A. - 5-26-2008 at 09:30 AM

Quote:

Originally posted by gibson
I hail man (millions of evolutionary years) not machine.

Ah Ha!! I get it now. Yes, I too hail them. barry

bancoduo - 5-29-2008 at 09:22 AM

Quote:

On another note, major European groups, primarily Spanish, UK and Italian (as well as Canadian and US) have bought most of the large parcels between San Jose and La Ribera and are planning major resorts there soon. Take a good look because the area will be changing drastically soon. The Palo Escopeta road WILL be paved by them. They are using their strong currencies to take these properties down.

CAN"T WAIT :barf:

fulano - 5-29-2008 at 10:38 AM

The Mexican secretary of tourism says he's putting the brakes on rampant expansion of tourist venues.

"México frenará expansión turística que afecte el ecosistema

México, 28 may (PL) La secretaria de Turismo de México se pronunció hoy por frenar la expansión desmedida de infraestructuras en la industria turística, con el fin de proteger y salvaguardar los ecosistemas del territorio nacional.

El titular de esa cartera, Rodolfo Elizondo Torres, dijo en la inauguración de un seminario-taller de esa rama que se debe trabajar hacia un desarrollo sustentable y mejorar las condiciones de vida de los habitantes en los centros turísticos de México.

Informó que al cierre del 2007 fueron elaborados diagnósticos para 90 destinos turísticos nuevos e instalados 69 comités de vigilancia sobre la protección de la naturaleza, en tanto se espera avanzar en igual sentido antes que termine el año en los más importantes 100 polos de recreación.

El secretario de turismo destacó la urgencia de propiciar un desarrollo sustentable en todo el país que se traduzca en crecimiento responsable y ordenado de la infraestructura del sector.

Elizondo Torres llamó a fomentar alternativas, sin frenar el desarrollo, que propicien el cuidado del entorno natural, para alcanzar así un crecimiento de la industria del esparcimiento con orden y visión de futu

Infrastructure?

Bronco - 5-29-2008 at 08:50 PM

I just love it when a real estate agent in Cabo talks about how the resorts are coming. I just continue to ponder where the infrastucture is to support all this development. Baja Norte is a "living" example of no infrastructure like fresh water, sewers, power and a paramedic here and there. I find it really frighting when a fire on the 3rd floor of a condo burns from lack of H20 and the pressure to reach anything above ground level is none existent.

One question, Winthy,why didnt you accept one of those multiple offers?

fulano - 5-29-2008 at 09:55 PM

Quote:

Originally posted by Bronco
One question, Winthy,why didnt you accept one of those multiple offers?

He's dying with that condo. He has the asking price down to $499,000. He started out asking in the high $600k's.

http://www.gardeningbc.com/index.cfm?classified=Property

rogerj1 - 5-29-2008 at 10:09 PM

I got to hand it to you Spanish John Doe, you're good! If I wanted to find out about someone by following their internet bread crumbs you'd be the guy I'd want on my side. If you're half as fun as you are smart, you'll be a great addition to the Nomad board.

Why is this guy smiling?

Bronco - 5-30-2008 at 05:47 AM

Every time I drive past this cherubic mural in a Tijuana suburb I can’t help but wonder if there is a pony in this unsculpted pile of dirt. Apparently that could be the case according to June Fletcher in her Wall Street Journal article, “South of the Border the Markets Still Hot”.
“Geoff Folsom, a Thousand Oaks, Calif., businessman, bought a 4,500-square-foot oceanfront penthouse, with its own private swimming pool, in Trump's Ocean Resort in Playas de Tijuana, Mexico, a 30-minute drive from San Diego, Calif. He paid $3 million for the property, about half the cost of similar resort units he looked at in the States. Property taxes and maintenance costs are lower than in the U.S., too.”
For the past two years the only change I have noticed is some very large pipe heading toward the sea, but that’s it. Help me Nomads have I missed something?
After 2 years Ol'Geoff is probably wondering if this project just ran out of "horsepower".

trump1r.JPG - 24kB

CaboRon - 5-30-2008 at 06:44 AM

Quote:

Originally posted by fulano

Quote:

Originally posted by Bronco
One question, Winthy,why didnt you accept one of those multiple offers?

He's dying with that condo. He has the asking price down to $499,000. He started out asking in the high $600k's.

http://www.gardeningbc.com/index.cfm?classified=Property

And that's the reality ...

CaboRon

Cypress - 5-30-2008 at 01:10 PM

Thought maybe( "tal vez") that Baja was a place to visit, stay if you can, and enjoy. Investment? No plans to own it, just gonna enjoy it.

The Gull - 5-30-2008 at 02:22 PM

Quote:

Originally posted by winthy
Bronco, please take a look at www.grupograndcoral.com.mx and www.cabocortes.com and www.dine.com.mx I think they have the horsepower and desire to put in infrastructure...if i am wrong sorry for the misinformation. Comparing northern baja to Los Cabos is like comparing the Bronx to Newport Beach...

Aren't you done with the insults, Briant Patterson? You have cluttered-up this board with such rants, insults, racism and degrading remarks about disabled people, you should be afraid to post anymore.

Your opinions, like your business history, are suspect.

CaboRon - 5-30-2008 at 02:53 PM

Quote:

Originally posted by Bronco
Every time I drive past this cherubic mural in a Tijuana suburb I can’t help but wonder if there is a pony in this unsculpted pile of dirt. Apparently that could be the case according to June Fletcher in her Wall Street Journal article, “South of the Border the Markets Still Hot”.
“Geoff Folsom, a Thousand Oaks, Calif., businessman, bought a 4,500-square-foot oceanfront penthouse, with its own private swimming pool, in Trump's Ocean Resort in Playas de Tijuana, Mexico, a 30-minute drive from San Diego, Calif. He paid $3 million for the property, about half the cost of similar resort units he looked at in the States.
After 2 years Ol'Geoff is probably wondering if this project just ran out of "horsepower".

Poor Geoff didn't buy a condo .... he bought some artwork ... and maybe they showed him a really neat model made out of styrofoam.

Do you know how to say Rip-Off ?

He will probably never sleep in that bed or swim in that private but nonexistant pool.

Some people have hundred of thousands to throw away.

Other people know how to take it.

CaboRon

fulano - 5-30-2008 at 03:42 PM

Quote:

Originally posted by CaboRon
And that's the reality ...
CaboRon

Another dose of winthy's reality. Guess whose condo this is.

http://bajasur.en.craigslist.com.mx/rfs/697497914.html

It may explain why he is going ballistic.

Cypress - 5-30-2008 at 04:13 PM

Has the "bloom/boom" faded on real estate down Baja way? :?:

on the other hand

sylens - 5-30-2008 at 06:18 PM

a house purchased two years ago in the chapultepec hills for 162K was recently appraised at 266K.

it's not just gringos purchasing here. lots of mexicans (especially from mexico city and tijuana) are buying locally.

rogerj1 - 5-31-2008 at 11:31 AM

Quote:

Originally posted by fulano

Quote:

Originally posted by CaboRon
And that's the reality ...
CaboRon

Another dose of winthy's reality. Guess whose condo this is.

http://bajasur.en.craigslist.com.mx/rfs/697497914.html

It may explain why he is going ballistic.

Just because a seller is "motivated" doesn't mean you're getting a great deal.

Cypress - 5-31-2008 at 01:31 PM

Hidden costs can hit you right between the shoulder blades, might just knock the wind out of you and your bank account.

Deep pockets are required to play the "Buy some Baja game". :biggrin:

gibson - 5-31-2008 at 11:56 PM

Quote:

Originally posted by Cypress
Hidden costs can hit you right between the shoulder blades, might just knock the wind out of you and your bank account.

Deep pockets are required to play the "Buy some Baja game". :biggrin:

I don't get why a red-blooded good ol' boy from Hicksville, waving the red white & blue while your loverboy strums the banjo on that dere front porch ... would really give a crap. ??
whaddup wit that buuubba

How deep?

Lee - 6-1-2008 at 12:08 AM

Quote:

Originally posted by Cypress
Hidden costs can hit you right between the shoulder blades, might just knock the wind out of you and your bank account.

Deep pockets are required to play the "Buy some Baja game". :biggrin:

Nothing against the Canadians (honest, Shari) but they started that game. Don't know where they get the money.

The Gull - 6-1-2008 at 08:26 AM

Quote:

Originally posted by fulano
Guess whose condo this is.

http://bajasur.en.craigslist.com.mx/rfs/697497914.html

It may explain why he is going ballistic.

In Cabo San Jose...La Jolla De Los Cabos Unit D-208. Could be dropping in value, but then again it appears to be unavailable for the next few months from his rental calendar.

Does that mean you guys down there might be able to meet Briant Patterson and speak with him?

Tijuana-Rosarito real estate sales down 50%

fulano - 6-2-2008 at 08:29 AM

Down at the last sentence in this article it says:

"In the Tijuana-Rosarito tourist corridor alone, the sale of properties valued at up to US$500,000 dropped 50 percent over the past five months, according to data from the association of tourism developers in that area."

http://www.diario.com.mx/nota.php?notaid=ec33ac08a2bdd1aa686...

[Edited on 6-2-2008 by fulano]

wilderone - 6-2-2008 at 08:53 AM

"appraised" value? Wasn't that part of the RE meltdown equation? "Listed" prices? A house listed for 2-3 years for a particular price does not dictate its value. "value" is what a willing buyer will pay to a willing seller. No sale - no value - just a number hanging out there. And if it is such a great deal, why sell? Oh - bought on speculation? Wasn't that another factor in the RE meltdown? And now they're holding onto property they don't want and can't use, looking for a willing Canadian.

Cypress - 6-2-2008 at 09:11 AM

gibson, Good question. :spingrin:

Beating up on Canadians

Tiomiguel - 6-3-2008 at 06:15 PM

I agree we Canucks are going a little crazy, present company especially on purchases, but don't think we are going to take over for the Americans. Remember that our whole country has less people than the State of California, ie. about 32 million people with most on the east coast. Alberta and nearby Sasketchewan are booming due to oil and BC is struggling with lumber pricing. So the real estate market will not be held up by us on our own. Our real estate market has taken a hit but nothing like the US because we did not really have the huge increases like they did in the US, except in Alberta.

oxxo - 6-3-2008 at 08:31 PM

Quote:

Originally posted by Bronco
I just love it when a real estate agent in Cabo talks about how the resorts are coming. I just continue to ponder where the infrastucture is to support all this development.

New developments in the Los Cabos area are being required to put in their own de-sal plant and sewage treatment plant.

CaboRon - 6-3-2008 at 09:11 PM

Quote:

Originally posted by oxxo

Quote:

New developments in the Los Cabos area are being required to put in their own de-sal plant and sewage treatment plant.

I thought that had been required of the corridor hotels for several years now.

CaboRon

Eugenio - 6-4-2008 at 07:41 AM

Quote:

Originally posted by fulano

Quote:

Originally posted by CaboRon
And that's the reality ...
CaboRon

Another dose of winthy's reality. Guess whose condo this is.

A 500k condo - easily flipable - with a hole in the wall air conditioner? Seriously - do the units down there not even have central air?

CaboRon - 6-4-2008 at 08:15 AM

Quote:

Originally posted by Eugenio

Quote:

Originally posted by fulano

Quote:

Originally posted by CaboRon
And that's the reality ...
CaboRon

Another dose of winthy's reality. Guess whose condo this is.

A 500k condo - easily flipable - with a hole in the wall air conditioner? Seriously - do the units down there not even have central air?

Mini-Splits are really popular now, with a regulater in the room with an remote control, and the noisy (except for fan) compressor is outside with only a two inch hose penetrating the wall ... A truly great product.

And , no, I don't sell them ...

CaboRon

oxxo - 6-4-2008 at 08:41 AM

Quote:

Originally posted by Eugenio
- with a hole in the wall air conditioner? Seriously - do the units down there not even have central air?

My place came with central air. I ripped it out and put in those "hole in the wall" mini split air conditioners. Cut my summer energy bill in half! Quiet, efficient,...I have become a fan of them. I put in three of them in so the casa can be zoned for comfort. I wouldn't own a place in Mexico that had central air.....unless someone else was paying my electricity bill.

Eugenio - 6-4-2008 at 08:53 AM

Yes - thanks guys - minisplits are used here where I am - the unit in the picture just looked like a regular old window air conditioner - but it's probably just my eyes - there must be different styles. Sorry for the lame question.

CaboRon - 6-4-2008 at 10:23 AM

Eugenio,

I am sure if it was in the window it was a old fashioned box unit.

CagoRon