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Woooosh
Banned
Posts: 5240
Registered: 1-28-2007
Location: Rosarito Beach
Member Is Offline
Mood: Luminescent Waves at Rosarito Beach
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Rosarito Beach said they had only 100 closed sales for all of 2010. Don't now how they got that number, tax records maybe? It doesn't do much good
to lower the price because price isn't the only factor that stopped the sales here. This is not a normal supply/demand scenario as in the states-
other contributing factors are in play here. The only people who respond to a price drop likely would have bought anyway- and those people are far
and few between right now. Many people bought two or more condos in Rosarito hoping to flip one for a profit and they all want to get rid of at least
one.
\"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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mcfez
Elite Nomad
Posts: 8678
Registered: 12-2-2009
Location: aka BN yankeeirishman
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My two cents worth
I dont think you are going to see a market come back for years in San Felipe.
The house "Flippers" are gone.
Cartel actions has done it's scare.
Cash is a rarity in the Stateside
3 strikes :-(
I cant say there been no sales...there has been. I can say this...many of the Real Estate Offices are closed. The pumped up large projects are dead in
the water (so what's new with that!). That project at south of town is getting more and more vacant. I think the name was South----something? The
Harbor High rise....ha! Many same ol for sale signs are still collecting not phone calls but dust.
For San Felipe.....life will come back in full force once the highway is finished (connected to M1) and monies are back into action in the States.
[Edited on 3-17-2011 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
Member Is Offline
Mood: Luminescent Waves at Rosarito Beach
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The cartels must still have plenty of cash to build with and a way to launder the money to do it. That's the only explanation I can come up with for
continuing construction on huge projects like NAOS in north Rosarito Beach when everything else is either stopped or empty awaiting buyers.
Yup Fez, three strikes for sure. A fourth strike (maybe they get four in Mexico) would be over-aggressive pricing to begin with. A fifth would be
the land title issues which got a lot of NOB press when people lost their retirement homes.
\"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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mcfez
Elite Nomad
Posts: 8678
Registered: 12-2-2009
Location: aka BN yankeeirishman
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| Quote: | Originally posted by Woooosh
The cartels must still have plenty of cash to build with and a way to launder the money to do it. That's the only explanation I can come up with for
continuing construction on huge projects like NAOS in north Rosarito Beach when everything else is either stopped or empty awaiting buyers.
Yup Fez, three strikes for sure. A fourth strike (maybe they get four in Mexico) would be over-aggressive pricing to begin with. A fifth would be
the land title issues which got a lot of NOB press when people lost their retirement homes. |
5 strikes.....yes.....I agree. Gods....what else can hit the market down there, radiation fallout 
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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gnukid
Ultra Nomad
Posts: 4411
Registered: 7-2-2006
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Where I am at things are going nuts, many many high end sales in La Paz. California has turned, Silicon valley has tons of new investment/companies,
new hires all all over and people are buying condos and homes in BCS.
BCS makes a great vacation spot for quick vacations from California. The flights are low cost to Cabo, Volaris is opening more flights, Alaska too.
There are one way flights for 100-140 available many days of the week.
You can do an interview with Notarios, Title insurance companies and RE and just do a tour and you will see there is lots of activity at the moment.
As far as moving random lots and run down homes, those are bargain sales usually in the below $20-50,000 range. Basically many homes/lots that aren't
moving are incorrectly priced or purposely priced more than double the market as is tradition in Baja.
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bajamigo
Super Nomad
Posts: 1218
Registered: 6-17-2006
Location: Punta Banda, BC
Member Is Offline
Mood: hubimos llegado
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Is this a press release from the La Pa' Chamber of Commerce?
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DENNIS
Platinum Nomad
Posts: 29510
Registered: 9-2-2006
Location: Punta Banda
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gnu.....how's tourism down that way? It must be booming. Timeshare sales? Booming too, I'll bet.
All we get up here is ignored and laughed at. Where are all those heavy spending customers coming from? Are they driving big, black Escalades with
pitch black tinted windows?
I don't get it.
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Bajatripper
Ultra Nomad
Posts: 3151
Registered: 3-20-2010
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| Quote: | Originally posted by Woooosh
The cartels must still have plenty of cash to build with and a way to launder the money to do it. |
Totally agree wih this statement. While lower-end housing is slow in La Paz, there is no end to the construction of new shopping centers and upper-end
housing around town. While I understand the attraction of grocery stores (everyone, regardless of economic status, must eat), nothing else but the
above statement seems to explain some of the other high-end shopping centers that have been built in the last two-three years.
On the bright side, they do provide a lot of jobs in construction, a pity that the jobs aren't going to locals. Without exception, all of the big
construction projects where I have made informal interviews of workers, they have been brought over from the mainland under contract.
[Edited on 3-17-2011 by Bajatripper]
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gnukid
Ultra Nomad
Posts: 4411
Registered: 7-2-2006
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I am skeptical by nature:
I do get out though, unlike apparently many.
On my street, there were multiple recent sales followed by remodels, it's irritating to have construction and remodels on all sides, stressful really,
cement flying everywhere, if you are at Posada the lots are moving and under construction.
Across the horizon, from the tip of the peninsula to Fidepaz there are many units underway, I would estimate 5-10,000 and I personally spoke to
friends who had purchased nice units and where quite happy with the purchase.
You can meet up with notarios and ask them, simply by visiting the office you can gauge traffic, they are generally quite honest about sales, there is
an uptick. I also met with a title insurance office, not that I believe in Mexican Title Insurance but they reported ten sales closed in the last 30
day period.
Personally I think its a great time for bargain hunting in el centro La Paz, beautiful old homes and lots could be scooped up by a smart buyer for
under $50,000.
In general, you will note I have an accurate assessment of RE and am skeptical of agency, however, somehow there are people very interested in the new
developments in La Paz.
Cabo is down and I don't see action there, but I hear there is action in Todos Santos, Centanario, and all over. La Paz in particular has been setting
up with organized developments for some time, I don't get it, 1 million for a condo, but if you have a yacht and you have an extra million apparently
its a nice place.
On the other hand, I would think its a great time to buy a nice lot with an broken colonial home for under $50,000 and take your time to make a nice
simple place that you can walk to the malecon, walk to restaurants and enjoy the simple life.
Still for La Paz, traffic will be an issue as there must be some improvement in roads.
[Edited on 3-17-2011 by gnukid]
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DENNIS
Platinum Nomad
Posts: 29510
Registered: 9-2-2006
Location: Punta Banda
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I have a feeling it's going to get real quiet here.
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Bajatripper
Ultra Nomad
Posts: 3151
Registered: 3-20-2010
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| Quote: | Originally posted by gnukid
On the other hand there are tons of the camper surfer-type smelly slobs, girls and guys looking for a free ride, that got really really old this year,
worse than ever, they have no money, they are a real nightmare, even though we all pulled together to feed them and help them, showed them how to
garden and fish, these surfer hippies don't contribute much if at all. Nothing. There were droves of hippy types camping in the arroyos with no money
and they were begging for food, clothes, beer and a free ride but of course were unwilling to help with any projects. I would say more than half were
canadians and I was struck that they had a strong negative attitude -probably because they are hungry, it basically sucked to be around them.
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Anyone else in BCS witnessed this? Although I can't claim to get down to Los Cabos more than on a casual basis (runs to the airport and such), I
haven't seen this. Anyone else?
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tripledigitken
Ultra Nomad
Posts: 4848
Registered: 9-27-2006
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Canadian surfers are a growing problem..................
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jenny.navarrette
Banned
Posts: 275
Registered: 3-3-2011
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| Quote: | Originally posted by gnukid
We have excellent service for water, gas and electricity, garbage and street cleaning, infrastructure is functioning well ... |
Do you live in some kind of alternative universe?
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capt. mike
Elite Nomad
Posts: 8085
Registered: 11-26-2002
Location: Bat Cave
Member Is Offline
Mood: Sling time!
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same old same old from guhnewkid...
hahaha. lots of diatribe never supported by stats or facts - it's all pure caca de vaca...
vaccuous halucinating at best.
starving hippies that he is feeding?
panhandlers on the beach?
get real - you never had credibility here.
Phil wanted data, info from real sources...
sadly since mexico does not use county recorders there is NO source for any comps - it is all so much BS.
haha.
formerly Ordained in Rev. Ewing\'s Church by Mail - busted on tax fraud.......
Now joined L. Ron Hoover\'s church of Appliantology
\"Remember there is a big difference between kneeling down and bending over....\"
www.facebook.com/michael.l.goering |
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DENNIS
Platinum Nomad
Posts: 29510
Registered: 9-2-2006
Location: Punta Banda
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| Quote: | Originally posted by Phil S
I tried to keep the question, 'simple' Where did I go wrongc?????? |
I don't think houses are selling robustly anywhere down here, Phil.
Some folks on this board, including myself, just can't stand to see a thread sit there unattended, so the thread morphs, first to a variation of it's
original intent, then to something completely disassociated to the original query.
It's not completely rude...just a little bit. To ignore you would be rude and you don't deserve that.
Anyway...better people than you and I have tried to silence gnu, to no avail. He comes with the territory. 
.
[Edited on 3-17-2011 by DENNIS]
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bajajazz
Nomad
Posts: 386
Registered: 12-18-2006
Location: La Paz, BCS, Mexico
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I would like to echo the request from Phil S for some hard data regarding closed sales in the Baja real estate market.
This is a subject on which I keep an interested eye, and with one single exception I have no personal knowledge of the kind of activity of which
Gnukid speaks.
Drug money looking for a place to go? Yes, I'll buy that. Daily, we see around us acres of shopping malls and hundreds if not thousands of dinky
houses and tacky condos under construction whose numbers far exceed the pool of ready, willing and qualified buyers, construction that is obviously
not market driven. What other explanation is there?
If there is some hard data to refute this theory I'd like to see it. Experience tells me that requests for provable sales statistics in BCS are
usually answered with fallacious BS designed to paint the rosiest of pictures.
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longlegsinlapaz
Super Nomad
Posts: 1685
Registered: 11-18-2005
Location: La Paz
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On a totally Condo-free, Chamber of Commerce-free, I have never seen a time-share sales pusher in La Paz note....
I personally know one person from the UK who will be arriving in La Paz in the near future & who is seriously looking for an older in-town casa to
restore. I know another person who is flying into La Paz to sign closing on his fideicomiso at the Notario manana. Yet another couple is here
seriously looking right now.
Property & spec homes built over the past 6 months in the Hacienda Palo Verdes development in Lomas Centenario have sold & closed; occupancy
is completed in most cases. That said, there are still a LOT of formerly or never-occupied places which remain on the market here 3-4 years after
completion. Actually, there are places still in the R/E listings which were on the market prior to my moving here in 1999!!  There are a lot of "Oh hell, why did I believe
the developer's pitch about how high-end a place he was going to build for me?" regret tales/places which remain on the market after 5+ years. There
are two never-occupied spec casas within a couple blocks of me....both 2 bdrm/2 ba....no perimeter walls, no garage, no carport, no pool....one listed
at $299K USD & the other smaller same amenities $297,500 USD. I personally think the builders were smoking something funny when they came up with
their asking prices 3-4 year ago, yet both have increased their asking prices over that time! I believe many people have invested too much $$ &
simply can't afford to take a loss of what it'd take to find a buyer.
Sales in this area have slowed, but definitely not come to a screeching halt. As proven out by Soulpatch in his search for vacation rental property
for June....he had people falling all over themselves to voluntarily cut their publicized "vacation rental rates"....in some instances, he was offered
rates of 25-50% of their originally posted rates. Many vacation rental properties are actually for sale & owners finally decided to try for
rental income until & unless that one interested buyer comes along.
IMO, it truly is a buyers market & there's a lot of places in the La Paz area to haggle over!
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tripledigitken
Ultra Nomad
Posts: 4848
Registered: 9-27-2006
Member Is Offline
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When was the last time a Nomad sold their house in baja?
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longlegsinlapaz
Super Nomad
Posts: 1685
Registered: 11-18-2005
Location: La Paz
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| Quote: | Originally posted by Bajatripper
Anyone else in BCS witnessed this? Although I can't claim to get down to Los Cabos more than on a casual basis (runs to the airport and such), I
haven't seen this. Anyone else? |
Nope, but you know I don't hang with that kinda crowd anyway!   Hell, your Mom embarrassed me with her table dancing!
Lera, xoxox! 
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longlegsinlapaz
Super Nomad
Posts: 1685
Registered: 11-18-2005
Location: La Paz
Member Is Offline
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| Quote: | Originally posted by tripledigitken
When was the last time a Nomad sold their house in baja? |
Ken, I sold Casa #1 in 2005 & sold Casa #2 in 2007....you in the market for casa #3?
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