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toneart
Ultra Nomad
Posts: 4901
Registered: 7-23-2006
Member Is Offline
Mood: Skeptical
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IWPA,
You had asked for advice and I gave you my honest opinion based on what I would do.
What some have brought up here is perhaps, more important to you and I understand that; one buys a house for a long-term occupancy, to enjoy. One
should NOT consider a house as an investment, especially during these times. You have expressed that yours is a quality of life choice with the
intention to live there for many years.
So, pending diligent research, go for it! I would suggest, however, that your mind was already made up before you posted on The BajaNomad. You were
just looking for encouragement that would support your decision. Given the reputation and desirability of the Club Marena Condo Development, you have
indeed found the support you were seeking.
To those who suggest that IWPA has "money to burn", I doubt whether he considers that he might have. I think that his decision is based on visualizing
a life in the Club Marina.
In my experience, the more money one has, the more they feel threatened that they may lose it. I have never known any wealthy people who feel they
have "money to burn" except for the "Nouveau Riche. For them it is all about the flash and the bling.
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rhintransit
Super Nomad
Posts: 1588
Registered: 9-4-2006
Location: Loreto
Member Is Offline
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I think Club Marina looks glorious in the real estate ads I googled. go for it!
now if anyone wants to help a poor deserving Bajanomad reach such a lifestyle, only 25k a day would make a big difference in the life of little
Robertita (insert photo of big eyed child here). checks and money orders welcome or we can set up an autodeposit account for your convenience....
reality\'s never been of much use out here...
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vandenberg
Elite Nomad
Posts: 5118
Registered: 6-21-2005
Location: Nopolo
Member Is Offline
Mood: mellow
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Roberta.
25K , $25.000 a day?? Aren't you a little extravagant.
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DENNIS
Platinum Nomad
Posts: 29510
Registered: 9-2-2006
Location: Punta Banda
Member Is Offline
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| Quote: | Originally posted by toneart
You had asked for advice and I gave you my honest opinion based on what I would do.
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You don't have to explain yourself, Tony. lwpa's request for knowledgeable input on half million dollar condos here was not much different from asking
the Mixtec field hands in Maneadero what they think of your new Ferrari.
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tripledigitken
Ultra Nomad
Posts: 4848
Registered: 9-27-2006
Member Is Offline
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| Quote: | Originally posted by DENNIS
| Quote: | Originally posted by toneart
You had asked for advice and I gave you my honest opinion based on what I would do.
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You don't have to explain yourself, Tony. lwpa's request for knowledgeable input on half million dollar condos here was not much different from asking
the Mixtec field hands in Maneadero what they think of your new Ferrari. |
Would love to see a picture of your new Ferrari.
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DENNIS
Platinum Nomad
Posts: 29510
Registered: 9-2-2006
Location: Punta Banda
Member Is Offline
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| Quote: | Originally posted by tripledigitken
Would love to see a picture of your new Ferrari. |
Tony has the new Ferrari. Not me. He's having a winch installed next week so he can go off-road.
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toneart
Ultra Nomad
Posts: 4901
Registered: 7-23-2006
Member Is Offline
Mood: Skeptical
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Keep your fingers off it...and get off my lawn!
Uh, the word is wench, not "winch". 
[Edited on 3-4-2011 by toneart]
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wilderone
Ultra Nomad
Posts: 3894
Registered: 2-9-2004
Member Is Offline
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"... all cash, about $580,000. Are we making a huge mistake?"
Will this be your primary residence? Will your heirs have to sell it? Did you see many, many other properties in comparison? If you're going to
spend a majority of the year in Baja CA, I would definitely see what else $500,000 will buy. And definitely get your own buyer agent. Can you rent
a month or two before you make up your mind? Test the waters? The concept that a comparable property would be worth $3 million in the US is just
too simplistic - don't let that sway you.
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toneart
Ultra Nomad
Posts: 4901
Registered: 7-23-2006
Member Is Offline
Mood: Skeptical
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| Quote: | Originally posted by wilderone
"... all cash, about $580,000. Are we making a huge mistake?"
Will this be your primary residence? Will your heirs have to sell it? Did you see many, many other properties in comparison? If you're going to
spend a majority of the year in Baja CA, I would definitely see what else $500,000 will buy. And definitely get your own buyer agent. Can you rent
a month or two before you make up your mind? Test the waters? The concept that a comparable property would be worth $3 million in the US is just
too simplistic - don't let that sway you. |
Uh, you're too late for the moving day party, Wilderone. 
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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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IWPA, Always remember to look both ways before you cross the street.
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lookingandbuying
Nomad
Posts: 102
Registered: 3-15-2010
Member Is Offline
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| Quote: | Originally posted by toneart
| Quote: | Originally posted by wilderone
"... all cash, about $580,000. Are we making a huge mistake?"
Will this be your primary residence? Will your heirs have to sell it? Did you see many, many other properties in comparison? If you're going to
spend a majority of the year in Baja CA, I would definitely see what else $500,000 will buy. And definitely get your own buyer agent. Can you rent
a month or two before you make up your mind? Test the waters? The concept that a comparable property would be worth $3 million in the US is just
too simplistic - don't let that sway you. |
Uh, you're too late for the moving day party, Wilderone. |
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tripledigitken
Ultra Nomad
Posts: 4848
Registered: 9-27-2006
Member Is Offline
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Asking for advice on this purchase is complicated.
Some won't even stop in RB.
Most don't have the money for a $580,000 house in the US, let alone to spend in Mexico.
It looks like a beautiful area and if you can afford it, I mean really afford it, and you will be happy to live in RB, go for it.
Ken
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mtgoat666
Platinum Nomad
Posts: 20372
Registered: 9-16-2006
Location: San Diego
Member Is Offline
Mood: Hot n spicy
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| Quote: | Originally posted by wilderone
"... all cash, about $580,000. Are we making a huge mistake?"
Will this be your primary residence? Will your heirs have to sell it? Did you see many, many other properties in comparison? If you're going to
spend a majority of the year in Baja CA, I would definitely see what else $500,000 will buy. And definitely get your own buyer agent. Can you rent
a month or two before you make up your mind? Test the waters? The concept that a comparable property would be worth $3 million in the US is just
too simplistic - don't let that sway you. |
now that he has explained his purchase of large penthouse and that he is retired, sounds a little better.
best advice for sunset years is spend, baby, spend, because you can't take it with you!
of course, that is good advice for all years!
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Von
Senior Nomad
Posts: 961
Registered: 10-1-2006
Location: Poway-Rosarito
Member Is Offline
Mood: getting ready!
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You guys and gals remember when one of the buildings burned up at club Morena? They just patched it all up again? Just redicoulos? Or am i just
nutts? That tells alot about that place im sure theres a few of you that know what im talkin about? Why dont you ask the management group at club
morena about that situation? Theres is no value in a burnt building thats been put back together. Maybe thats not the one your buying but that tells a
lot about a place im just sayin~:-)
READY SET.....................
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mtgoat666
Platinum Nomad
Posts: 20372
Registered: 9-16-2006
Location: San Diego
Member Is Offline
Mood: Hot n spicy
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| Quote: | Originally posted by lwpa
If it were located anywhere in the US on the ocean the price would range from around 3.6 to 5 million. |
maybe so in so cal, but even in so cal you can get condo on beach for under $3.6M. and if you go to more remote locations, $3.6M will buy some pretty
nice waterfront RE.
anywho, sounds like you found a place you like, and I say go for it (just don't use the condo mgt staff as your buyers agent, that sounds like ripe
opportunity for COI)
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Von
Senior Nomad
Posts: 961
Registered: 10-1-2006
Location: Poway-Rosarito
Member Is Offline
Mood: getting ready!
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Also i just remember that the hospital next to Club Morena is always dumping hospital bio~hazard in the water, one time i was surfng there at k~38 and
all this crap was coming out from that place it was disgusting it looked like an oil spill just so sad that small bay was awesome back in the day ~
READY SET.....................
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lookingandbuying
Nomad
Posts: 102
Registered: 3-15-2010
Member Is Offline
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A couple of comments/questions:
1) The $580k for this place is the listing price. Are you paying asking price?
If so, this is going to be one happy seller. I hope you end up being a
happy buyer too.
2) What is the amount of HOA fees?
Sure sounds like a lot of money for a condo is "today's" real estate market, more so in Mexico. I have been seeing some people doing a lease/option.
This allows them to get a full feel for the place they are buying just to ensure they really want the place and also to fully learn everything about
the individual unit and issues with the association etc.
You should keep in mind: YOU ARE IN THE DRIVERS SEAT!! Make sure you get everything you want. It is just so easy to fall in love with Baja. I have
seen too many people buy a place for a big chunk of change and then it just sits empty for many various reasons. Was just down in the immediate area
for the past month and the place we stayed had a good view of these towers. Could hardly see the place at night and remember saying to my wife "look
at that...you can not even see those big towers like you can in the daytime...no lights on in any of the units."
I wonder how many total units are in this place, how many fulltime people reside there whether they are owners or renters. Also, how many people that
own there are in default on the HOA dues.
It does really sound like you posted to get an endorsement rather than input. Not may people running around Baja plunking down a half a Mil or more
for places at the moment. You are a rare commodity is this market, more so for Baja.
If I were spending the money I would grind on the price, grind some more and then grind a little more. You may find you can keep some of your money
in YOUR pocket. And, I would not give a hoot that the place "was" worth $1.5M at one point in the time, the owner orginally listed the place at $1.2M
and has reduced it blah, blah blah.
Have heard nothing but good things from other people that either own or have lived in this development.
Good-luck!!
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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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| Quote: | Originally posted by lookingandbuying
A couple of comments/questions:
1) The $580k for this place is the listing price. Are you paying asking price?
If so, this is going to be one happy seller. I hope you end up being a
happy buyer too.
2) What is the amount of HOA fees?
Sure sounds like a lot of money for a condo is "today's" real estate market, more so in Mexico. I have been seeing some people doing a lease/option.
This allows them to get a full feel for the place they are buying just to ensure they really want the place and also to fully learn everything about
the individual unit and issues with the association etc.
You should keep in mind: YOU ARE IN THE DRIVERS SEAT!! Make sure you get everything you want. It is just so easy to fall in love with Baja. I have
seen too many people buy a place for a big chunk of change and then it just sits empty for many various reasons. Was just down in the immediate area
for the past month and the place we stayed had a good view of these towers. Could hardly see the place at night and remember saying to my wife "look
at that...you can not even see those big towers like you can in the daytime...no lights on in any of the units."
I wonder how many total units are in this place, how many fulltime people reside there whether they are owners or renters. Also, how many people that
own there are in default on the HOA dues.
It does really sound like you posted to get an endorsement rather than input. Not may people running around Baja plunking down a half a Mil or more
for places at the moment. You are a rare commodity is this market, more so for Baja.
If I were spending the money I would grind on the price, grind some more and then grind a little more. You may find you can keep some of your money
in YOUR pocket. And, I would not give a hoot that the place "was" worth $1.5M at one point in the time, the owner orginally listed the place at $1.2M
and has reduced it blah, blah blah.
Have heard nothing but good things from other people that either own or have lived in this development.
Good-luck!! |
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rhintransit
Super Nomad
Posts: 1588
Registered: 9-4-2006
Location: Loreto
Member Is Offline
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| Quote: | Originally posted by vandenberg
Roberta.
25K , $25.000 a day?? Aren't you a little extravagant. |
hey, I'll settle for 25 cents a day, but this is Baja...think big!
reality\'s never been of much use out here...
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LaloinBaja
Junior Nomad
Posts: 97
Registered: 10-29-2010
Member Is Offline
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:also..the is talk about building a marina in the area..don't know if its' true or not...look into it...could be goo or not....but the break will
change
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