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bajaguy
Elite Nomad
Posts: 9247
Registered: 9-16-2003
Location: Carson City, NV/Ensenada - Baja Country Club
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Mood: must be 5 O'clock somewhere in Baja
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| Quote: | Originally posted by Gypsy Jan
"And There is Everything Else."
Or, so I have been told.
Comment?
GJ |
Waterfront = maintenance
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Gypsy Jan
Ultra Nomad
Posts: 4275
Registered: 1-27-2004
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Mood: Depends on which way the wind is blowing
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Maintenance is Just Like a Boat
Everyday.
“Travel is fatal to prejudice, bigotry, and narrow mindedness.”
—Mark Twain
\"La vida es dura, el corazon es puro, y cantamos hasta la madrugada.” (Life is hard, the heart is pure and we sing until dawn.)
—Kirsty MacColl, Mambo de la Luna
\"Alea iacta est.\"
—Julius Caesar
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lookingandbuying
Nomad
Posts: 102
Registered: 3-15-2010
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Don't understand- Waterfront
Agree, waterfront = maintenance, but in a condo the HOA fees should cover all of these costs anyway so it would be a non-event in this case.
For me, don't particularly like anything between me and the view of the waves and white water...nada! I would rather pay the price, whatever that may
be, to not only fully view the ocean waves but to also fully hear and feel them all night long. Nothing better than that in my mind. 
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JumpJoey
Newbie
Posts: 7
Registered: 1-24-2011
Location: Southern Oregon
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I think this has been a very interesting thread. I`ve driven down to Baja Sur for the past 15 years each winter and have often wondered about the
Gringos who own property in Mexico and how they fare with the government there and dealing with legal issues. I don`t think I have the temperment for
dealing with the officials there. But that is just my viewpoint and I do not mean to imply that other people are crazy for buying property there. I
have met some people in Loreto who seem a bit stuck there and would love to unload their {their?} property so they can return to the US . I think
these are expats who threw their whole nut into a place in Baja with just enough monthly cash to get by , but now their place is worth less than they
paid for it.
The fact that this particular buyer is willing to throw down $580000 is his business . The advice others here have given regarding him getting his own
representation to guide the sale and his best interests, is good advice indeed.
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tripledigitken
Ultra Nomad
Posts: 4848
Registered: 9-27-2006
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| Quote: | Originally posted by lookingandbuying
Agree, waterfront = maintenance, but in a condo the HOA fees should cover all of these costs anyway so it would be a non-event in this case.
For me, don't particularly like anything between me and the view of the waves and white water...nada! I would rather pay the price, whatever that may
be, to not only fully view the ocean waves but to also fully hear and feel them all night long. Nothing better than that in my mind. |
How much of those HOA's due you think the management is collecting these days? 50%......40%?
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lookingandbuying
Nomad
Posts: 102
Registered: 3-15-2010
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| Quote: | Originally posted by tripledigitken
| Quote: | Originally posted by lookingandbuying
Agree, waterfront = maintenance, but in a condo the HOA fees should cover all of these costs anyway so it would be a non-event in this case.
For me, don't particularly like anything between me and the view of the waves and white water...nada! I would rather pay the price, whatever that may
be, to not only fully view the ocean waves but to also fully hear and feel them all night long. Nothing better than that in my mind. |
How much of those HOA's due you think the management is collecting these days? 50%......40%? |
If you are asking how much is management collecting each month as a percent of the total owners versus those owners that are either late or in default
on their HOA dues, I would think it is a much higher percentage, more like 85 to 90%, or more. I would assume the association has the right to
foreclose on owners that are in arrears on their HOA fees and this should motivate people to keep current on their HOA fees. To fully determine this
figure a person would need to review the minutes of the quarterly association meetings as I am sure this is a topic discussed.
As from everything I have heard/seen the grounds and maintenance appear to maintained in good order. This would indicate that there is ample HOA fees
collected to cover these on-going expenses.
I would want to look at the association minutes to determine if there have been any special assessments made to cover shortfalls related to the
expenses required to maintain the place. This may also indicate to you if you should expect any future special assessments etc. if there are any
comments related to deferred upkeep issues.
Looking at the minutes of the association and the financial statements and balance sheet is a MUST for anyone interested in buying into a condo. The
review should also include inquiring about any pending or threatened litigation or claims. Besides reviewing the written records it would be a good
idea to talk to the manager/president of the association and also the attorney the association uses.
I would also want to talk to as many owners of units as possible and ask them what types of problems or issues there are that concern them.
Lastly, I would want to know how many of the units are owner occupied versus rentals (even if some of the owners are only there on weekends).
If your question relates to how much of the HOA fees is spent on management as a percentage of total collected HOA fees? Who knows, but, this could
be determined by looking over the financial statement of the association.
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tripledigitken
Ultra Nomad
Posts: 4848
Registered: 9-27-2006
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The research you recommend is one that would be easily accomplished in the US, in Mexico maybe.
My guess of percentage of HOA's fees collected relates to the occupancy of the project. Just how many have walked away during the recent downturn
after not being able to sell their properties?
How many have decided that they don't want to live in Baja Norte anymore and moved back north leaving all obligations behind?
By all means, if you can afford to spend the bucks and then throw in the towel a couple of years down the line and head back NOB, jump in. However,
if you need to get that investment back out in order to live back NOB, very risky IMO.
Try to find a few people that have bought RE in Mexico in the last 10 years and have sold and got their investment back.
Ken
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Bajafun777
Super Nomad
Posts: 1103
Registered: 9-13-2006
Location: Rosarito & California
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Mood: Enjoying Life with Wife In Mexico, Easy on The Easy
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I thought of buying at one time before I retired in Mexico but instead starting leasing for the time I spend there. It is better for me and still
gives me the flexabilty to jump to other places if one comes up when the lease expires. I have found that people in the complexs where numerous homes
are with HOA fees give you "The Good, The BAD & The Ugly" information over a few beers at the jacuzzi if you start talking to them,LOL> Too
much Baja and yes Mainland too, I want to experience too much to just stay in one place at the current time. My wife and I are getting ready to drive
all the way to Puerto Vallarta in a few weeks. We have driven down to Maztalan about 7 times now, as she has a cousin living in Los Mochis that we
check on along with helping out. My wants and needs change as I get older and never really thought about those changes while younger, OMG getting
older does take us down different paths than what we thought, huh? LOL Take Care and Travel Safe "No Hurry, No Worry, Just FUN" bajafun777
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mcfez
Elite Nomad
Posts: 8678
Registered: 12-2-2009
Location: aka BN yankeeirishman
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In case some of you didnt read ALL the posts here....this Bozo is NOT looking for your input. Read the below and then save some typing effort.
| Quote: | Originally posted by mcfez
| Quote: | Originally posted by lwpa
I agree that I probably made a mistake in asking for advice in this forum. Most seem to be focused on the price which they consider high not even
knowing the development or what similar comps have sold for in the past year.
This condo is a second home for us to be used probably at most 6 months a yr. We never said we were staying all year long. I am not uninformed about
Club Marena in particular or Northern Baja in general. We have been renting at Club Marena for over 10 years, and have rented at 4 other locations
for another 10 years. I have been visiting Baja for over 40 yrs..
As stated by some, when I posted my mind was probably already made up as I said we had already signed a purchase agreement. Why did I ask for advice
then? I was hoping someone knowledgable would provide some tips about the closing process. Instead most commented on what they consider an extremely
large amount of cash for something that wasn't worth the price without any knowledge of my personal financial condition or the particular condo.
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Perhaps you should had made this all clear in your original post, and save the helpful ones (us) the time. Thanks for your ungrateful response in this
post above. I sure wont ever respond to any of your future postings...you freakin Dolt
[Edited on 3-10-2011 by mcfez] |
Old people are like the old cars, made of some tough stuff. May show a little rust, but good as gold on the inside.
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Woooosh
Banned
Posts: 5240
Registered: 1-28-2007
Location: Rosarito Beach
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Mood: Luminescent Waves at Rosarito Beach
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| Quote: | Originally posted by tripledigitken
Try to find a few people that have bought RE in Mexico in the last 10 years and have sold and got their investment back.
Ken |
For the last ten years it is a short list, for the last five years there is NO list.
\"The only thing necessary for the triumph of evil is for good men to do nothing\"
1961- JFK to Canadian parliament (Edmund Burke)
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DENNIS
Platinum Nomad
Posts: 29510
Registered: 9-2-2006
Location: Punta Banda
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| Quote: | Originally posted by Woooosh
For the last ten years it is a short list, for the last five years there is NO list. |
So true. It's definitly a "buyers market"....or would be if there were any buyers. I have neighbors up the road here who, as I heard today, are
dropping the price of their house which they bought about five years back for 120,000 bucks, down to 70. Unfortunatly, the only people who will see
it from the road will be a bunch of tourists looking out the windows of a tour bus from the cruise ships.
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Woooosh
Banned
Posts: 5240
Registered: 1-28-2007
Location: Rosarito Beach
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Mood: Luminescent Waves at Rosarito Beach
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| Quote: | Originally posted by bajaguy
| Quote: | Originally posted by Gypsy Jan
"And There is Everything Else."
Or, so I have been told.
Comment?
GJ |
Waterfront = maintenance |
Yup, oceanfront is a lot of work. You can reduce it some by choosing the correct building materials (think cement block, plastics and cast aluminum).
Even so it is def worth it.
The latent salt in the air is brutal on everything indoors too. Computers, TV's, stereo systems all have a limited life
when oceanfront- nothing you can do about it unless you seal the house tight (and what's the point of that?). After 15 years of living oceanfront or
a few houses off- I now buy everything mid-grade quality and factory refurbished if I can find it. "Wet Rated" does not mean oceanfront rated either.
I have a worker two days a week- year round and all he does it paint and maintain the house- by the time he finishes, he starts over again. Kind of
like the guys who paint the Brooklyn Bridge. We do have 4200' of house with a pool to maintain though.
[Edited on 3-10-2011 by Woooosh]
\"The only thing necessary for the triumph of evil is for good men to do nothing\"
1961- JFK to Canadian parliament (Edmund Burke)
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Woooosh
Banned
Posts: 5240
Registered: 1-28-2007
Location: Rosarito Beach
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Mood: Luminescent Waves at Rosarito Beach
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http://tijuana.en.craigslist.com.mx/reb/2229336910.html
think it is this penthouse?
\"The only thing necessary for the triumph of evil is for good men to do nothing\"
1961- JFK to Canadian parliament (Edmund Burke)
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DENNIS
Platinum Nomad
Posts: 29510
Registered: 9-2-2006
Location: Punta Banda
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Good find, Woooosh. Man....that place is nice.
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vandenberg
Elite Nomad
Posts: 5118
Registered: 6-21-2005
Location: Nopolo
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Mood: mellow
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And here I was always under the impression that Graigslist was for po'folk. 
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mcfez
Elite Nomad
Posts: 8678
Registered: 12-2-2009
Location: aka BN yankeeirishman
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| Quote: | Originally posted by DENNIS
Good find, Woooosh. Man....that place is nice. |
Wow...I say good find. The ad was just listed 2011-02-22
This topic was posted just a week after the ad. Odd......
[Edited on 3-12-2011 by mcfez]
Old people are like the old cars, made of some tough stuff. May show a little rust, but good as gold on the inside.
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Bajafun777
Super Nomad
Posts: 1103
Registered: 9-13-2006
Location: Rosarito & California
Member Is Offline
Mood: Enjoying Life with Wife In Mexico, Easy on The Easy
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LOL, mcfez I think you are on the right track with just letting those that kick you away in deep water swim on their own or drown is right in this
thread. Just because you sign a brief document and a very small deposit does not mean you are LOCKED into the sell. The escrow and other Mexico
requirements have not been meant yet, unless this poster left out more details than stated on the very first post. With that said it looks like they
like what they have and money is no object, so I would say "BUY, BUY, BUY' hell it's only money,LOL. In the end you will still have great BAJA to
take your mind off the money you apparently have so much of you do not worry about it,hmmmmmmmm,LOL!! Like Kid Rock's song says "No Need To Be Mean"
opps I better stop as the song goes into much more detail, ahhh life don't you just love the INS & OUTS. Take Care & Travel Safe "No
Hurry, No Worry, Just FUN" bajafun777
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Woooosh
Banned
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Registered: 1-28-2007
Location: Rosarito Beach
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Mood: Luminescent Waves at Rosarito Beach
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| Quote: | Originally posted by mcfez
| Quote: | Originally posted by DENNIS
Good find, Woooosh. Man....that place is nice. |
Wow...I say good find. The ad was just listed 2011-02-22
This topic was posted just a week after the ad. Odd......
[Edited on 3-12-2011 by mcfez] |
I'm no interior designer- but this remodel makes it look like a mexi-trash narco hangout. A mix of tech and tacky with no design theme or appeal
besides the awesome view.
[Edited on 3-12-2011 by Woooosh]
\"The only thing necessary for the triumph of evil is for good men to do nothing\"
1961- JFK to Canadian parliament (Edmund Burke)
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monoloco
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Location: Pescadero BCS
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I was thinking the same thing.
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DENNIS
Platinum Nomad
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Registered: 9-2-2006
Location: Punta Banda
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Yeah....but it's nice trash in a few of the rooms. I didn't care for all the sinister black, but for one who entertains thoughts of suicide now and
again, the place does have value. 
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