BajaNomad - Real Estate devaluation in Baja

Real Estate devaluation in Baja

Sharksbaja - 6-10-2009 at 08:09 PM

Seems CA homes have lost 30% of their value from the financial mess. What about Baja. Not many buyers I'm sure but does anyone have any idea how much less homes are worth these days in Baja?

Pescador - 6-11-2009 at 07:07 AM

It all depends on whether or not you can find a buyer. Some have raised their prices and some are desperate and have lowered to an absurd level. Some of the houses in California have dropped a lot more than 30% but the main problem seems to be that the available buyers in Baja have Dibbled to a slow standstill.
I know a developer who was getting an avarage of 10 hits a day on his website and that has dropped to 1 or 2 every other month.
The Norteamericano population seems to be a little more realistic about the lowering of prices whereas the Mexicans think that things are slow so raise the price to make more money.

longlegsinlapaz - 6-11-2009 at 07:21 AM

Sharks, none of the local real estate sites are having "Fire Sales"! I cruise through several local sites periodically & rarely is there a "price reduced" change in any of the ads. I believe the majority of properties are listed high to leave room to consider a lower offer, which might just be nearer to the price the seller really wanted to get anyway!

But there are some casas still on the market here which were listed 10 years ago when I was researching moving here! :lol:

That being said, remember, in this culture, it's not at all uncommon for prices to increase in a futile attempt to make up for a drop in overall business! :spingrin:

Local sales have slowed, but not come not a screeching halt.

arbee - 6-11-2009 at 07:24 AM

The real question is how many properties are selling at any price right now in Baja. Lots of for sale signs everywhere but very few buyers.

bajaguy - 6-11-2009 at 07:28 AM

The Baja Country Club in Ensenada is still selling. House construction is low, but lot sales are up. People buying property to build at a later date.

BajaDove - 6-11-2009 at 07:40 AM

Retired in Baja can't afford to lower the prices because we haven't time to make it all again.

BMG - 6-11-2009 at 08:49 AM

I don't know how to determine what is happening to property prices. Unless someone tells you what they paid or sold for, how can you know? Some of the property being offered is ridiculously high while others seem like a pretty good price.

Every area is going to be different though. You mention CA prices being off by 30%. Compare Modesto with Los Altos and it might be a different story. The old story of location, location, location.

oxxo - 6-11-2009 at 09:03 AM

I talked to a realtor friend of mine. Sales in the Los Cabos area are way down, but prices for the most part are holding steady. Yes, you can find the occasional fire sale but not too many. But there continue to be buyers. It is reported that there have been many more lookers recently (not necessarily buyers) than 6 months ago. But you first need a looker before you can get a buyer. My neighbor just sold his condo after being on the market for a year, and he is smiling ear to ear with the price he got (and so am I). It makes a very nice comp for me.

Von - 6-11-2009 at 09:16 AM

i would say baja is at least 50% depreciation, ive been trying to sell a piece of land for two yrs now and no luck dont really care anymore but what the heck.

Woooosh - 6-11-2009 at 10:34 AM

It will take five years AFTER the California market recovers for baja norte real estate to get some traction again. Other than the peso devaluation- there is little to attract buyers and a hundred reasons to stay away. The goose that laid the golden eggs was eaten at a narco baptism party.

Bajahowodd - 6-11-2009 at 10:58 AM

There was an article in the LA Times yesterday supporting BMG's notion of location. It cited a number of areas in LA, San Bernardino and Riverside counties where median prices today were the equivalent of the price 20 years ago. Think Lancaster and most of the inland desert areas. Also on the list was Santa Ana. That being said, I still have to wonder about how many folks who have second homes in Baja, will be able to hold on while their primary residences NOB face the stress of being underwater at the least, and facing foreclosure at worst. I understand what many of you have said about sellers or potential sellers in Baja holding on and holding out. But, it seems to me that logic dictates that eventually something will have to give.

pacside - 6-11-2009 at 11:16 AM

Quote:

Originally posted by Bajahowodd
There was an article in the LA Times yesterday supporting BMG's notion of location. It cited a number of areas in LA, San Bernardino and Riverside counties where median prices today were the equivalent of the price 20 years ago. Think Lancaster and most of the inland desert areas. Also on the list was Santa Ana. That being said, I still have to wonder about how many folks who have second homes in Baja, will be able to hold on while their primary residences NOB face the stress of being underwater at the least, and facing foreclosure at worst. I understand what many of you have said about sellers or potential sellers in Baja holding on and holding out. But, it seems to me that logic dictates that eventually something will have to give.

BMG is correct. I live on the peninsula in the Bay Area, CA and it is amazing how some desirable areas the prices have held steady or gone up whereas some parts of San Jose, Modesto, Fresno have been hit BIG. It is all about location, location, location...including in Baja.

The way to get a GREAT deal in Baja right now is to be patient, don't bid against yourself, don't chase a deal and most importantly find that seller who as mentioned by Bajahowodd above who is in dire straights and absolutely needs to sell for whatever reason. That seller will contemplate any offer...cash is king when you are desparate.

Or if you believe everything lasvegasron, bajaron oh I mean caboron has to say than one should never ever consider buying in Mexico. My counter to that argument is one would have done better purchasing in Baja than buying in some areas of Nevada a few years ago which now is one of the worst hit states regarding foreclosures.

pacside

Alan - 6-11-2009 at 05:27 PM

I don't think there is the pressure to get out from under your house in Baja as it is in the States. I believe most of the houses down here are not mortgaged and people own them free and clear. So unless you can find someone who is trying to dump what they own to keep their head above water back north of the border there is little sense in taking a loss on both places.

Osprey - 6-11-2009 at 05:57 PM

Alan is a smart dude. And Sharks has once again begun a thread that is interesting and important for a lot of Nomads. What will happen to Baja time shares/second homes/lots if and when things go further under water up north? As Mexicanos come limping back from El Norte, not able to send money home, projects which could have supported them are stuck, stopped, busted out. Mexico's managers already see this happening and are responding best they can with all kinds of programs to fit the dire situations as they expose themselves like small but lethal bomb.

Fred-o - 6-11-2009 at 07:35 PM

Another thing to consider is the "lessee" who had to move back to the "states" for any number of reasons. Health, Family, Didn't Live the Dream, etc..

Some of my friends and neighbors here in Punta Banda have done so this past year, and just left the property. It probably would not sell anyway, even at greatly reduced prices. But, most of the land here, if not all, is on leased or rented land. So the beat goes on. If they don't maintain the property, including the lease payments, they will get nothing. The landowner could re-posses it when the rent comes due and is unpaid.

Just a bad time to be forced, or have to leave Baja.

Some One Once Told Me

Gypsy Jan - 6-11-2009 at 08:01 PM

That there is only so much oceanfront property and then there is everything else.

I don't no nothing about real estate prices, but there has been a very recent flurry of people looking at oceanfront properties (completed homes and lots) near us.

Bargain hunting or... The owners we know are not desperate and this is not leased property.

Oh, I Fogot to Mention

Gypsy Jan - 6-11-2009 at 08:03 PM

That the setback homes with no ocean view are getting no action.

LOSARIPES - 6-12-2009 at 04:41 AM

I have been contacted about my property (ocean front) a couple of times by what appears to be "opportunity buyers" telling me up-front that this is a buyer's market and that I should expect to get lots less that what I would, 1 year ago.
There is a Mexican saying: Bien vendido o bien podrido = Well sold or well rotten.
(Must have been invented by a mercado fruit salesm@n)

Real estate wont rotten but wont sell. The pressure is there and as always, the law of supply and demand will rule...... in the mean time, real estate agencies are hurting.

Bajahowodd - 6-12-2009 at 10:37 AM

Too bad there's no Mexican equivalent to zillow.com.

[Edited on 6-12-2009 by Bajahowodd]

Hook - 6-12-2009 at 11:28 AM

This recent influx of "potential" buyers and investors looking for bargains has been greatly reduced in the last month, thanks to the very significant rise in the 10-year note yields. Many were looking to take advantage of prices that SEEMED to be bottoming out in some areas and historically low mortgage rates.

We might be better served asking this question in about two months, especially if mortgage rates continue which many predict they will.

Some pretty authoritative figures in real estate are now predicting that the bottom in US real estate prices might not now be reached until 2012. This is based on the job market and the likelihood of further increases in mortgage rates which will force the bottom even lower. The decline in the dollar is probably the biggest factor in these mortgage rates. Both China and Russia have indicated in the last week that the want to sell some of their holding of US Treasuries in an effort to diversify in advance of the next big runup in oil prices (which has already started).

And real estate prices in Mexico will follow the downward trend.................they already have over here in Sonora. Maybe owners and RE agents are more realistic over here. I've seen advertised prices on the same property drop by 20-50%, depending on the property. Anything that isnt correcting is owned by people who really dont need to sell.

It's no surprise to me that lots are still selling well. Building your own is still very cost effective.

[Edited on 6-12-2009 by Hook]

msteve1014 - 6-12-2009 at 12:14 PM

I still think my place in Baja is worth twice what I paid for it, but only because I'm not looking to sell.

Sharksbaja - 6-12-2009 at 03:01 PM

It could very well be Steve. It's a double wammy for folks that lost value from the hurricanes though I guess that this current situation has leveled the playing field pretty much. People are forgetting the floods in favor of worrying about current and future values and options.

I say it won't be 4 yrs till things turn around. People can't wait that long to get their retirement etc. moving along. Methinks a couple years and we'll be seeing a whole new bunch of alternative lifestyle seekers arriving.

They will probably be a much more savvy crowd given the feedback, print and news they can't help but absorb. It would be nice to hear some positive predictions come out of the mouths of Nomads but, alas, so many echo the political hype and agenda.

That's their obsession I guess. Pointing fingers at others because of their bias has literally become a venue on so many undeserving posts. It's part of my reluctance to post new topics, but thank you Jorge, I do enjoy your cogent non-politically motivated contributions.

Udo - 6-12-2009 at 03:16 PM

Thank you, Sharks!
Well said, especially about Jorge!

toneart - 6-12-2009 at 03:18 PM

Well, my house in Nevada City and my casita in Mulege have both taken hits, but these are two great places to be stuck in. These two places are where I chose to live, so therein lies the value. :bounce:

tripledigitken - 6-12-2009 at 03:19 PM

Sharks,

You want good news? Here is some.

Retail sales rose in May for the first time in three months, mostly from consumers returning to auto showrooms.

Jobless claims fell last week.

The number of Americans filing claims for unemployment fell for the third time in 4 weeks.

Inventories at US businesses fell in April for an 8th straight month, the longest stretch since 2002.

Building material, clothing, grocery stores and pharmacies were among the other retailers that showed gains in demand.

Source Bloomberg News...Bob Willis

The average prices of homes quoted in the press exaggerate the general market because:

45% of the sales Nationwide are foreclosures and distressed properties that banks sell at deep discounts pulling down prices for other sellers.

Non distressed properties not in foreclosure in many neighborhoods are not selling at 40% off from 2 years ago.

Ken

Bajaboy - 6-12-2009 at 03:20 PM

Quote:

Originally posted by toneart
Well, my house in Nevada City and my casita in Mulege have both taken hits, but these are two great places to be stuck in. These two places are where I chose to live, so therein lies the value. :bounce:

I'm right there with you Art. I love both San Diego and Bahia Asuncion. One of the houses is paid for and the other is not...I'll let you guess which is which.....

Skeet/Loreto - 6-12-2009 at 04:00 PM

If I were to buy at this time i would go first to Mulege and buy a distressed House on the River. Just thunk it might be 100 years before there is another Flood!

I would also go across to the Pacific and buy or Lease something near San Giorgio{SP}. I think that will be an excellent place for those who like more isolation than Asuncion.
For those who like the Moutains i would suggest Purisimia?Commodu off of Kilo 79 toward the pacfic.

dikigen: I do not share your outlook, I think we may have another "Blurb" before the true comeback starts, but in the States If I wanted to make a Million Dollars there are several places to invest in the Lower end of the Rental House Business

You can make your Investment pay off sooner in the States than you can in Baja. The place you buy in Baja is more emotional.

Bajaboy - 6-12-2009 at 04:03 PM

Skeet-San Gregorio....one of my favorite places in Baja...plan to do some camping there in a month or so.

msteve1014 - 6-12-2009 at 04:07 PM

Quote:

Originally posted by msteve1014
I still think my place in Baja is worth twice what I paid for it, but only because I'm not looking to sell.

That was suposed to be a joke

I'm lucky if it's worth what I paid for it, but I like where I am and I'm not selling

JESSE - 6-13-2009 at 02:27 AM

You would be surprised about the number of americans looking, and holding on a few more months before they buy. The sellers (Mexicans), are not lowering their prices, they dont have that market mentality and seem to understand this is no time to sell, and most dont hold large amounts of debt, so why lower your prices? they didnt have the money 10 or 20 years ago, and they dont need it now.

Properties in La Paz keep selling, by now is the Mexicans buying because theres no crazy offers for buildings that are simply not worth it. Theres at least one property i know of, that was bought for 250k a few years back and the owner (foreigner) wanted 900+k before the collapse. Off course, that will never happen now, i think people will never again get to be that stupid again when buying here. I still think most americans should buy the way the mexicans buy. look around, ask, buy direct from owners and skip middlemen and speculators that only steal the money from the locals, and the people that really want to move into the community.

longhairedbeatnik - 6-13-2009 at 09:09 AM

The property in Baja is not worth what you think it is, its worth what someone will pay for it and these properties will not sell like they use to for many years The California market is shot and that was the feeding funnel for Baja for the most part.
How many people were using their US homes as a piggy bank to finance the Baja purchase. Those days are long gone and will not come back.

shari - 6-13-2009 at 09:34 AM

Here in La La Land...there are lots of people selling off lots they put a bit of money down on years ago and now in the financial crisis...fishermen havent been paid for nearly 3 months)...so there are lots of peices of dirt for sale and it seems like a fair amount of people wanting to buy them...many canadians and northern states folks...
there are fewer californians looking... that's the only slump here.

aldosalato - 6-13-2009 at 09:35 AM

At moment there is a market disruption not only in Baja but worldwide between bid and ask price.
According to my experience in Baja, prices averages tripled in USD term between 1995 and 2003. And doubled again between 2003 and 2007. That was an average appreciation of 16%.
Now there are very few buyers around and market has to discount at least the Peso devaluation of 25% to 2007 prices.

Main problem is that there are too many empty buildings and overcapacity that could drag on prices a few more years.

Flooding of money by federal reserve and worldwide central banks is trashing the dollar and all currencies in general.
Increasing inflation expectations could bring back potential buyers looking for a real estate safehaven but making money will be much more difficult since taxes and transaction costs eats between 15-25% of every real estate investment.

Real Estate

C-Urchin - 6-13-2009 at 10:09 AM

I have been looking for property in La Paz for the last 5 years. I have been looking at the same sad listings are in the windows of the real estate offices on the Malecon. Most of the photos are faded, paper yellowed, cracked, fit for a museum. Can't help notice that prices still what they were in Newport Beach before the collapse of real estate!

Has you wondering if they read the newspapers...But too late, you let your guard down and here comes the "smarty pants" 20 something "real estate" agent. Oh NO! I made eye contact!

Smarty pants now who will proceed in telling me that La Paz is "BOOMING"!

It is virtually impermeable to what is happening in the rest of the world! Properties can't keep up with demand.

They are going to build a Shopping Mall on every street corner!
With condos and bowling alleys! ...and casinos!

Hey, for 89 million dollars they will sell you the WHOLE Mogote!!!

They are SOOO busy, swimming in money! They even have mortgages for anyone who needs one! No papers required.

The bleached smile almost looks sincere. He smells the blood. I see the fangs.

That's where you run for cover, get in your car for a fast get away, as your shaky hands are trying to get the key in the ignition you catch a glimpse of your own reflection in the mirror and in an instant the world stops.

You ask yourself...

"Do I look THAT stupid"??????

We will be smart and find a nice property to rent until we find what we want.

longlegsinlapaz - 6-13-2009 at 10:32 AM

Dang C-Urchin, that's enough to give you nightmares! :lol:

You'll do fine! Sounds like you're a pretty savvy wannabe property owner! :bounce:

C-Urchin - 6-13-2009 at 10:47 AM

Thanks Longlegs. My ears are open to common sense, experience and wisdom!

comitan - 6-13-2009 at 06:48 PM

Curchin

You have a u2u, click top right hand corner of page.

Damn Hook, well put

rogerj1 - 6-13-2009 at 11:28 PM

Quote:

Originally posted by Hook
This recent influx of "potential" buyers and investors looking for bargains has been greatly reduced in the last month, thanks to the very significant rise in the 10-year note yields. Many were looking to take advantage of prices that SEEMED to be bottoming out in some areas and historically low mortgage rates.

We might be better served asking this question in about two months, especially if mortgage rates continue (going up) which many predict they will.
......the bottom in US real estate prices might not now be reached until 2012. This is based on the job market and the likelihood of further increases in mortgage rates which will force the bottom even lower.
And real estate prices in Mexico will follow the downward trend.................

There is nothing left for regulators to do to keep interest rates artificially low. As rates rise to their natural levels the speculators who've played the "dead cat" bounce in real estate step back and prices continue to sag reflecting the huge oversupply on the market. Add on top of this aging baby boomers leaving the market in greater numbers and you have a lengthy decline.

Fortunately, those aging baby boomers need a place to live and they like sunny places so there will be a steady demand market for recreational property, which Mexico has in spades. But as Hook (and Sharksbaja) pointed out it will be a long time for the market to find equilibrium so I'm keeping my powder dry.

[Edited on 6-14-2009 by rogerj1]

rhintransit - 6-14-2009 at 07:02 AM

Quote:

Originally posted by C-Urchin
I have been looking for property in La Paz for the last 5 years. I have been looking at the same sad listings are in the windows of the real estate offices on the Malecon. Most of the photos are faded, paper yellowed, cracked, fit for a museum. Can't help notice that prices still what they were in Newport Beach before the collapse of real estate!

Has you wondering if they read the newspapers...But too late, you let your guard down and here comes the "smarty pants" 20 something "real estate" agent. Oh NO! I made eye contact!

Smarty pants now who will proceed in telling me that La Paz is "BOOMING"!

It is virtually impermeable to what is happening in the rest of the world! Properties can't keep up with demand.

They are going to build a Shopping Mall on every street corner!
With condos and bowling alleys! ...and casinos!

Hey, for 89 million dollars they will sell you the WHOLE Mogote!!!

They are SOOO busy, swimming in money! They even have mortgages for anyone who needs one! No papers required.

The bleached smile almost looks sincere. He smells the blood. I see the fangs.

That's where you run for cover, get in your car for a fast get away, as your shaky hands are trying to get the key in the ignition you catch a glimpse of your own reflection in the mirror and in an instant the world stops.

You ask yourself...

"Do I look THAT stupid"??????

We will be smart and find a nice property to rent until we find what we want.

I'm local, I look it. yet I cannot scan the local real estate boards without a salesman running out to give the canned spiel. usually 'investment' is in the second sentence. my translation: run, Bambi, run!!!!

wessongroup - 1-25-2010 at 06:51 PM

Any new thoughts on real estate now....

DENNIS - 1-25-2010 at 09:15 PM

Quote:

Originally posted by wessongroup
Any new thoughts on real estate now....

Yeah. I think you should come down here and buy my house. :light:

bajaguy - 1-25-2010 at 09:34 PM

Hey, Wiley, go look at it. It's a great place with a killer view.....bring Dennis a couple of cases of Pacifico (and some tamales) and he might deal with you!!!!!!

k-rico - 1-25-2010 at 09:57 PM

I'd say it's a buyer's market.

"When there's blood in the streets, buy real estate."

wessongroup - 1-25-2010 at 10:11 PM

Was just talking with someone about the "pride of ownership"... this is the first time in my life I DON'T have to take care of a place...

Last week the refrigerator when out, the roof had to be fixed, the washer messed up, and all the front windows had to be caulked between the rain storms, plus we had a couple of electrical shorts that had to be worked on.. as for me.. all I had to do was pick up the phone and it all happened

And when they left after fixing all this crap.. I didn't have to reach for my wallet .... it was ... well just wounderful .. have not rented in over 40 years.. and at this stage of my life buying a home.. well let's just say, I'm really taking my time.

Not saying I have ruled it out, but just taking my time.. my have mentioned was "kicking dirt".. a fella had an acre of dirt with an unobstructed view up about Popotella, had wanted $300,000 in 2007.. I offered him $125,000.. he said no.. but two weeks later he had reconsidered, as I have.

Continue to get excellent advise from you great folks here on a number of issues, which have really been helping me in the process...

I'm going to see what happens.. not sure things are going to be as good as a lot of people think..

Waiting for the garnishing of teeth, the sounds of pigs being slaughtered, of women wailing and a lot of other really bad stuff to happen before I start moving anywhere..

If I wasn't so old and messed up... that Doge Power wagon with a camper sounded pretty good to me... or, a good horse and a pack mule... only you guys can afford one of these new fangled Toyota Tacoma's I have to drive a used Ford..

As for the beer and the tamales... no problem the Ford has a really big trunk.. would just love to sit and drink a few beers eat some good food and look at the ocean... it's really nice to do just that... doesn't cost a lot and the view is just great

Plus I like the cool weather up this way... have been hearing these stories about "heat" existing to the south of us... you know like Vegas with humidity.. :lol:

[Edited on 1-26-2010 by wessongroup]

roamingthroughbaja - 1-26-2010 at 08:18 AM

We're finding that prices in the La Paz/Centenario area are all over the board right now. We have a brand new home listed, 1800 f2 , well built and nicely finished, that started out at $359,000 US and is now $309,000 US, but still no interest. A Mexican client raised the price on his 1100 f2 new home from $92,000 to $105,000. There wasn't a lot of interest at $92,000, so raising the price might not be a good strategy. We also have a new home of 818 f2 listed at $49,900. It's not quite finished yet, but it will be interesting to see what happens, as you would be hard pressed to find a cheaper new home in the area for less. Basically, there are a lot of listings, and I think the prices would come down if there were some buyers, but there doesn't seem to be much interest at any price right now. (The exception being the one gated community in El Centenario...pricey, but selling very well)

DENNIS - 1-26-2010 at 08:29 AM

Quote:

Originally posted by bajaguy
Hey, Wiley, go look at it. It's a great place with a killer view.....bring Dennis a couple of cases of Pacifico (and some tamales) and he might deal with you!!!!!!

You got it, Terry. With those commodities, we could make a trade. :biggrin:

DENNIS - 1-26-2010 at 08:31 AM

Quote:

Originally posted by roamingthroughbaja
Basically, there are a lot of listings, and I think the prices would come down if there were some buyers

That's the problem. I could put up a sign, FREE HOUSE, and nobody would see it.

Russ - 1-26-2010 at 08:47 AM

Nothing has moved here for long awhile and I'd certainly do some creative negotiating on my 3/4+ acre waterfront lot now. I'm not making a pitch to sale, I can wait, but I think that is the general attitude of sellers around here.

Woooosh - 1-26-2010 at 09:07 AM

Two oceanfront houses near me are for sale. Both have income producing units. One was listed in 2005 for $50K- now asking $275K. the other was $95K in 2005- now asking $295K. I'd start at the 2005 prices and go up a little- not start at the asking price and negotiate down. Both are listed on the TJ Craigslist.

You got the best part right Wesson- The point of moving here is to relax with great tamales, a cold beer and good family/friends while watching the sun set over the ocean every day for the rest of your life. You have a great mindset and analytical approach. IMHO you will find and obtain what you are looking for because you are approaching it the right way.

Even with all the whining and complaining I do here on BajaNomads- I wouldn't leave here. I do spend an hour or so on-line venting- but the other 23 hours I put that all away and just enjoy it here, especially the ocean view. I'll be interested to see where you end up.

And you must have really really good luck to find a landlord so responsive as you have- or you are paying way to much in rent .

[Edited on 1-26-2010 by Woooosh]

wessongroup - 1-26-2010 at 10:10 AM

Woooosh, I got such a deal here I think we will be extending our stay though the summer too... and yes they do take care of me and the place.. just a great bunch of folks.. as are there dogs

We like the owner of the land, and we hear nothing but good things about my "El asesino de rata", he has free rein over the campo.. I just trying to keep him from donning his usual cammo

They lady we rent from likes us too, as do our neighbors... overall it's been a really nice stay here in El Pescador and we feel very lucky to have gotten the opportunity to meet some many kind and thoughtful people.

I have people open doors for me, I'm messed up from back surgery, pick up my cane.. treat me like their grandfather.. something I never experienced up State side.. not to say it doesn't happen, just that I did ever have a woman open a door for me and smile at me.. or have a man come over and pick up my cane...

I was up at the CVS in Imperial Beach, about a month and a half ago... had to get a leg brace for me knee, had fallen down and fractured my knee here in the house we are renting.. the stairs from hell as I call them.. they have stairs going into each bed room, and short steps just about every where.. patio, walkway, driveway.. just took a while to remember to go "even" slower than I usually do..

But, at CVS I'm trying to pick up medication, and get a knee brace.. I asked this woman behind the counter, who had watched me walk all the way from the front doors to the back of the store where the Pharmacy was located, with my cane and a heavy limp from my messed up knee (had gotten water on the knee too) .. tells me its behind me and three aisles to my right.. there were 4 people behind the counter.. and not one offered to help me..

I have not found the people down here to be of this nature.. they have respect for most everyone, they conduct themselves with a polite manner which I like.. and there work ethic.. well, it's something I have not seen in a while.

And the bottom line, I feel very thankful to the Mexican people for treating me so good, as I have not see they same treatment when they are on the other side. I'm in their Country, and try to show as much respect to them as I can. I try also to help out in any small way that I can to repay their collective kindness, tolerance and smiles

It all good in my book and it's about time for me to "nuke" a burrito or "steam" a tamale.. the wife say one does not "nuke" a tamale.. going to make up some Pico digio to go with it, if we have run out.. I'm dead stuck on that stuff big time..

bajabass - 1-26-2010 at 10:20 AM

The timing for new activity on this thread is great. I hope I can find a reasonably good deal on a house or lot in Baja Sur in the next year or so. Cruising craigslist, prices are all over the board. Need a trip down soon, to see a few places mentioned in threads here, and on craigslist.

Woooosh - 1-26-2010 at 10:46 AM

Wesson: The respect Mexicans have for their elders is cultural and wonderful. I think it is because we all have very big extended families down here and nothing is more important than family.

One funny observation: When my mother-in-law is standing at the window- with young people blaring their car stereo systems and drinking/dancing on the street below- they look up and ask if the music is too loud for her. If I'm standing there- they crank it up. We laugh about that and have teased her we are going to put a life-size photo of her in the window for when she is out of town.

Sorry to hear about your current physical challenge. The stairs are uneven in my house too and I sometimes land flatfooted and have taken a spill- and I designed the house. lol. I think it's because the USA has uniform stair height requirements and we have become accustomed to stepping the same height all our lives- then we come here and we need to look at our feet once in a while, especially in the dark.

A few weeks ago I was walking with the mother-in-law on the beach- hold her arm as we went along. She tripped on a piece of seaweed and we both went down and rolled around in the sand for a while. We didn't get hurt but we looked so pathetic a few surfos came over to help us up. WE laughed the rest of the day about the "dos vejitos" floundering on the beach. It's a good place to be old.

BajaGringo - 1-26-2010 at 10:57 AM

Great posts Wesson and Woooosh...

tripledigitken - 1-26-2010 at 11:01 AM

I agree Ron, it illustrates one of the biggest reasons we love Mexico so much.

jgreenlaw1 - 1-26-2010 at 11:21 AM

Im selling my house in Ensenada right now. I cant afford to make the trips anymore, also the crime on the road is scarry. Ive heard from friends about kidnappings and problems with police and badito's. House has been broken in 3 times.
I have been unemployed for 3 months, can no longer afford the combination of gas to get down there, electricity, phone, upkeep.
The economy was the final straw. By by o----o house in ensenada.

k-rico - 1-26-2010 at 11:45 AM

Quote:

Originally posted by jgreenlaw1
Im selling my house in Ensenada right now. I cant afford to make the trips anymore, also the crime on the road is scarry. Ive heard from friends about kidnappings and problems with police and badito's. House has been broken in 3 times.
I have been unemployed for 3 months, can no longer afford the combination of gas to get down there, electricity, phone, upkeep.
The economy was the final straw. By by o----o house in ensenada.

Please put an ad in the real estate section with photos and price.

I found a buyer, thanks

jgreenlaw1 - 1-26-2010 at 12:43 PM

Im pritty sure I got out of it what I put into it.
I was getting tired of the boarder too.

DrTom - 1-26-2010 at 08:09 PM

im not an expert for sure. but i have an opinion like everyone else. i made a decision to build a beautiful home in baja vs putting the money in the market. reason being i cant spend winters in my 401k/rrsp. and the downside to real estate is also its beauty....illiquidity. because its illiquid, it didnt evaporate like the market....meaning, half the square footage didnt dissappear.....ok, the sales price in todays market is down, but the last thing you want to do is to "have" to sell a property at an inopportune time. so if i need or want to sell my home, ill do it (if i can) when the market is way up.....i think it will come back because internationally, the market here is way fair for resort ocean front.....dont compare it to us...and us ocean front is still pretty good....compare it to uk, france etc.....the other great deal is british columbia real estate....i cant believe thats as reasonable as it is..... but back to baja....im done with houses on rivers that flood etc...i built in a gated community that was a little expensive for the land but is a better "known commodity" compared to buying a lot on the water and waiting for the utilities to come in....or out in the middle of nowhere....so bottom line....it will come back....it might take 5 yrs, 10 yrs.....but the weather will not change and thats why it is desirable here otherwise theres a lot of great realestate in ketchikan for sale....

Udo - 1-26-2010 at 08:45 PM

Living in a large RV on a waterfront palapa is looking real good about now...HUH?

Donjulio - 1-26-2010 at 11:22 PM

Quote:

Originally posted by bajabass
The timing for new activity on this thread is great. I hope I can find a reasonably good deal on a house or lot in Baja Sur in the next year or so. Cruising craigslist, prices are all over the board. Need a trip down soon, to see a few places mentioned in threads here, and on craigslist.

I think you are right on with this plan. I would wait until the end of 2010 and then go with cash. There are some at bottom price now but I think you will find a lot more a year from now when people realize the economy isn't even close to turning around.
I think we are going to see people walking away from properties. They are already doing it in San Felipe.

Sharksbaja - 1-27-2010 at 04:35 AM

Quote:

Originally posted by udowinkler
Living in a large RV on a waterfront palapa is looking real good about now...HUH?

YES!

wessongroup - 1-27-2010 at 06:20 AM

Quote:

Originally posted by Donjulio

Quote:

You folks ... well, what can I say.. cogent, to the point, and based in real time... you can't get that from a real estate broker, banker or read it in a book..

Must agree about the about the overall trend with the economics however, money will continue to get "tighter" as who is going to have it... ???

There of course will be the very rich who will not be effectively impacted by the down turn, no jobs and a decrease in "public" services.. reduced work hours by many Agencies.. saw just yesterday, that the Madera County Agricultural Commissioners Office was cutting at least two days a week out of the "business hours" per week.. if farmers don't plant, and the tax base is reduced... that is what happens.. the Governor, bless his heart keeps telling everyone "WE ARE BROKE".. but it seems there our a lot of folks out there that don't understand "BROKE' ... Well we will just charge it!!!

Maybe I was lucky to have been brought up by an Okie that went through the depression, not reading about it, but living it.. with NOTHING, no money, no house, no car, no job, no welfare, out door plumbing, dirt floors and riding the rails at times looking for any work at all..

Was alwasy told to put some away for a rainy day.. never got to buy a boat, RV, big house, new car.. we always have been tight with a dollar..

Oh, yeah.. an old saying my Dad would give me when I wanted to buy something .. "Spend a nickel spend a dime, spending money is a CRIME".. a bit different that todays.. "Shop till you drop" (no offense intended) just that's the way it's been for a while...

I'm sure things will get back to "normal" what ever that is.. but, the "VALUE" issue on propperty is something which was based in BS.. the numbers developed by the Real Estate Industry started when women got college degrees and both husband and wife both were working.. causing the market to "adjust" to higher and higher levels... and encourage by the Banking Industry through their "apprasial" process..

The disclamier in all apprasials is enough to make anyone with any brains say "what the hell" you tell me you don't know anything, your not an expert in any thing, but this is the number.. PLEASE

This issue has been addressed before by Law and Regulations, with "enforcement from the SEC" .. who I have worked with on Bank audit's.. PLEASE... they didn't have a clue.. and that was the way it was and most likely still is, as I don't think the Financial Industry has opened their collective arms to redo how they make money and report it to the IRS and the share holders

We have all seen these numbers go HIGHER and HIGHER and based only on MODELS which serve to only allow greater equity to allow for MORE money to churn, to build more commercial and more SFR and more shopping malls

Which creates a need to go "shop till you drop"...

It all works until, someone has to PAY for it....

Just my two cents..

Still say a used Power wagon with a camper or a horse sounds pretty good..would say no to an RV either, saw a Mexican guy talking to his girl in Primo Tapio, he was in the street talking from his horse to his girl.. she was up the side of the hill on her porch .... shade of old Mexico.. I loved it..

But, then I was brought up different

Please excuse my writing, I'm old, on med's and I was never too good at it.. took me 5 try's to pass English 50 when I went back to school .. was a High School drop out, with a GED I got while in the Service..

Every time I put it up, I see glaring mistakes.. I'm doing the best I can, so be easy.. I rember I once posted to Russ to not sweat the small sh**, but guess it's different when YOU put it up :lol:

[Edited on 1-27-2010 by wessongroup]

burra - 1-27-2010 at 07:40 AM

****************************************************
Originally posted by WESSONGROUP:
Please excuse my writing, I'm old, on med's and I was never too good at it.. took me 5 try's to pass English 50 when I went back to school .. was a High School drop out, with a GED I got while in the Service..
****************************************************
Hey,I enjoy your posts.....grammar doesn't count for much when you write from the heart. I think we are a lot alike. My Uncle Mel showed me Baja,starting in 1955 when I was 10. He was Okie also,and a great guy. I have an old photo of him as a lad of about 7 standing barefoot in front of his soddy on the plains. He served in WWII and retired as a Fire Chief after 30 years service in a large CA city. Quite an accomplishment,quite a guy.
Well,this year I hope to find a lot at Bahia de Los Angeles to lease,sub-lease,share, or something. Just a place to park my trailer and a place to park my butt. Maybe I'll post a 'want' on here.
I hope all goes as planned for both of us.
a Dios,
Bill

Don Alley - 1-27-2010 at 08:35 AM

I think many of the locals here in Loreto think that the current slump is just a passing thing, a result of a "perfect storm" of the flu outbreak, the US economy, and the Loreto Bay bankruptcy. They think a rebound is on the way. Local government and private construction spending seems to bear that out too. So, many prices, while down some, are still hovering at high levels, and many properties are being held off the market until anticipated big capital gains can be realized.

My wild guess is that in a couple of years we'll see those prices drop substantially. I don't think things are going to improve that much here. Rumor has it the sale of Loreto Bay, and a new low-cost airline in town, have fallen through. And I just recently bought a ticket for a flight to the states for Paula. She'll fly out of Cabo: the Loreto/LAX connection alone was $800!

Loreto has priced itself as another Cancun, Cabo, Ixtapa. Ain't gonna happen for a long time.

k-rico - 1-27-2010 at 08:46 AM

Plus, don't you think the drug war is scaring off a lot of people. Nomads know that BCS has been largely unaffected by the violence but the general American public (I think) thinks that all of Mexico is dangerous.

Osprey - 1-27-2010 at 08:51 AM

rico, it's better down here without a bunch of people. If I have to chip in to keep that view alive, after the next few beheadings I might just buy some heads, have em sent down here on the bus, dumped where the news guys can find em.

bajabass - 1-27-2010 at 08:53 AM

:lol:

Donjulio - 1-27-2010 at 08:55 AM

San Felipe has gone down considerably. Lots at El Dorado Ranch that were $65,000 are now being sold for $10,000-15,000 with electric. They sold about 600 quarter acre and larger solar lots for $2000. Condos on the golf course dropped in half. There was just a lot sold in Dec. on the golf course side for $29,000

Beachfront at the development I work for went from $325,000 down to a recently accepted offer of $90,000. We had 13 people that were financing their lots that walked away a year ago.

I believe we are going to see more folks moving down here but I think we are going to see it in the less than $100,000 market.

We were a blue collar town that had white collar prices. We continuously told the developers that San Felipe didn't have the infrastructure to support the prices they were asking. Now with the economy we are a light blue collar town.

Another thing we have to look at too. If I am going to retire and I have $300,000 to do it. Do I want to come to Mexico with all the bad press, buy a place that is going to cost me $150,000 for a small house and live off the $150,000 I have left? With the market the way it is in places like Phx., which is still a retirement hotspot, I can buy a fairly new home for $75,000 right now plus have all the amenities of the city. If I buy somewhere like Yuma, I have the great weather plus the less expensive medical costs and pharmacys 8 miles away.

Not only that I have an additional $75,000 that more than makes up for any difference in the cost of living. People will go where they feel safe. Yeah they don't have the water but...

wessongroup - 1-27-2010 at 09:00 AM

Quote:

Originally posted by k-rico
Plus, don't you think the drug war is scaring off a lot of people. Nomads know that BCS has been largely unaffected by the violence but the general American public (I think) thinks that all of Mexico is dangerous.

Me, I think it is just an excuse.. most of those folks came down somewhat grudingly to Mexico.. I still hear in my mind.. well it's so dirty down there.. the people, how can they live like that.. oh, I can't stand to look at those ugly shacks.. and that was from my side of the family when I married my wife, a Mexican/Papago Indian over 40 years ago.. and to a large degree it hasn't changed that much... I know I will draw "flack" on this but, it just my experience with how Mexican's are treated in the United States and how many in the United States view the Mexican people

I found this site through another call "City Data".. a young Mexican man was touting the postives of Mexico.. we had been looking for somewhere to go, and we both said "what he heck have we been thinking"

The crap about the killings, and the rest was not even a consideration at ALL

That happens everywhere, I'm more concerned about bicycle riders on MEX1

Yeah, the drug deal is bad, but they have been running that across the border for as long as I can remember... what's the name of the "gulch" as you come down the hill along the fence road?? they have been smuggling crap across the border for a long while and will continue.. it's a way to make money!!

I certainly do not want to see anyone die, and crooks are crooks, but then what the difference between them and AIG, Bank of American, Enron, Keating, Vista Mining and many others.. its all the same.. making money and someone gets hurts

Just my two cents, have at it..

I've been wrong so many times it doesn't hurt anymore