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woody with a view
PITA Nomad
Posts: 15940
Registered: 11-8-2004
Location: Looking at the Coronado Islands
Member Is Offline
Mood: Everchangin'
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| 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.
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sounds like the human condition....
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bobw
Junior Nomad
Posts: 50
Registered: 1-16-2007
Location: Calgary
Member Is Offline
Mood: Tired of the city
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| 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....
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fulano
Banned
Posts: 496
Registered: 3-31-2008
Location: Ramona, CA
Member Is Offline
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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
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oxxo
Banned
Posts: 2347
Registered: 5-17-2006
Location: Wherever I am, I'm there
Member Is Offline
Mood: If I was feeling any better, I'd be twins!
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| 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.
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gibson
Banned
Posts: 250
Registered: 2-6-2007
Member Is Offline
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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)
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Barry A.
Select Nomad
Posts: 10007
Registered: 11-30-2003
Location: Redding, Northern CA
Member Is Offline
Mood: optimistic
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| 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
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gibson
Banned
Posts: 250
Registered: 2-6-2007
Member Is Offline
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I hail man (millions of evolutionary years) not machine.
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Barry A.
Select Nomad
Posts: 10007
Registered: 11-30-2003
Location: Redding, Northern CA
Member Is Offline
Mood: optimistic
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| 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
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bancoduo
Banned
Posts: 1003
Registered: 10-3-2005
Location: el carcel publico mazatlan sin.
Member Is Offline
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| 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
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fulano
Banned
Posts: 496
Registered: 3-31-2008
Location: Ramona, CA
Member Is Offline
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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
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Bronco
Nomad
Posts: 168
Registered: 12-1-2007
Member Is Offline
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Infrastructure?
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?
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fulano
Banned
Posts: 496
Registered: 3-31-2008
Location: Ramona, CA
Member Is Offline
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| 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
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rogerj1
Nomad
Posts: 265
Registered: 4-29-2004
Location: Gig Harbor, WA
Member Is Offline
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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.
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Bronco
Nomad
Posts: 168
Registered: 12-1-2007
Member Is Offline
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Why is this guy smiling?
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".
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CaboRon
Ultra Nomad
Posts: 3401
Registered: 3-24-2007
Location: The Valley of the Moon
Member Is Offline
Mood: Peacefull
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| 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
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Cypress
Elite Nomad
Posts: 7641
Registered: 3-12-2006
Location: on the bayou
Member Is Offline
Mood: undecided
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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.
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The Gull
Super Nomad
Posts: 2223
Registered: 8-28-2003
Location: Rancho Descanso, BCN
Member Is Offline
Mood: High
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| 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.
�I won\'t insult your intelligence by suggesting that you really believe what you just said.� William F. Buckley, Jr.
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CaboRon
Ultra Nomad
Posts: 3401
Registered: 3-24-2007
Location: The Valley of the Moon
Member Is Offline
Mood: Peacefull
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| 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
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fulano
Banned
Posts: 496
Registered: 3-31-2008
Location: Ramona, CA
Member Is Offline
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| 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.
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Cypress
Elite Nomad
Posts: 7641
Registered: 3-12-2006
Location: on the bayou
Member Is Offline
Mood: undecided
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Has the "bloom/boom" faded on real estate down Baja way?
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