Real Estate trends

by Coldrain @, Seattle, Wednesday, March 07, 2018, 18:24 (199 days ago)

My wife and I are contemplating buying a condo in Z and splitting our time between here and Seattle. We have been watching the website listings the past few months and notice most of the listings are showing reduced prices. Also they don't seem to be selling very fast? Have the prices been trending down, up or holding steady? Thanks in advance for any insight.

Michael & Kristina

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Real Estate trends

by Talley Ho @, Wednesday, March 07, 2018, 21:22 (199 days ago) @ Coldrain

Buying property in Mexico is interesting. Don't get us wrong, we live here in a house we own.
Properties generally are paid in full, not financed. So, a property may be on the market for years, then sell for half the asking price because there is no debt involved. Think about it. It's a different animal than you are accustomed to seeing in the US and Canada.
Work with a good realtor, message us if you'd like.

Real Estate trends

by HolyMole @, Wednesday, March 07, 2018, 21:48 (199 days ago) @ Coldrain

My wife and I are contemplating buying a condo in Z and splitting our time between here and Seattle. We have been watching the website listings the past few months and notice most of the listings are showing reduced prices. Also they don't seem to be selling very fast? Have the prices been trending down, up or holding steady? Thanks in advance for any insight.

Michael & Kristina

Tried to send you a private message, but those illegible security codes are, well, illegible.....so don't know if it went through.
Private message me.

Real Estate trends

by Coldrain @, Seattle, Wednesday, March 07, 2018, 22:03 (199 days ago) @ HolyMole

I sent you an email...

Real Estate trends

by midalake @, Wednesday, March 07, 2018, 23:07 (199 days ago) @ Coldrain

My wife and I are contemplating buying a condo in Z and splitting our time between here and Seattle. We have been watching the website listings the past few months and notice most of the listings are showing reduced prices. Also they don't seem to be selling very fast? Have the prices been trending down, up or holding steady? Thanks in advance for any insight.

Michael & Kristina

I have NEVER seen inventory of Condos for sale so low in Ixtapa.

D

Real Estate trends

by devney @, Thursday, March 08, 2018, 09:40 (198 days ago) @ midalake

I agree that property down here moves a little differently than that in Canada or the states. We have our 1 bedroom, 1 1/2 bath condo for sale in La Madera and haven't lowered our asking price. We spend up to six months a year here and the rest of the time in Vancouver and enjoy both and although we would like to sell the place in Zihua to facilitate the purchase of property on Vancouver Island we won't be "giving" our place away for a quick sale.

Other condo's in our complex that are for sale have not put their places up for "fire sale" either so not sure where you see this trend. It's too nice a place here and we will continue to enjoy coming to Zihua until such time as we sell.

We could easily rent our place out but that's not why we bought it.

Real Estate trends

by Mexalberta @, Thursday, March 08, 2018, 22:27 (198 days ago) @ Coldrain

I would not buy yet.
If Obrador wins the election the world as foreigners know it could change drastically for the worse.
He does not like affluence.

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AMLO

by ZihuaRob ⌂ @, Zihuatanejo, México, Friday, March 09, 2018, 08:54 (198 days ago) @ Mexalberta

I would not buy yet.
If Obrador wins the election the world as foreigners know it could change drastically for the worse.
He does not like affluence.

Really? That's not what he's telling the Mexican bankers currently at their 81st annual convention in Acapulco. I'm no López Obrador fan, but your comment sounds like you've fallen for the PRI-PAN propaganda. Andrés Manuel López Obrador is a faux socialist and a faux leftist. He's actually more authoritarian and conservative than the image he projects to his star-struck followers. Though he touts the support he receives from the intellectual class, most of his supporters are fairly poorly educated.

López Obrador winning the July election is unlikely to have any major impact on the economy beyond a nervous initial few weeks for the Bolsa Mexicana de Valores (BMV). He would need a majority in Congress to keep his populist promises and there is no indication he will have anything remotely close to a majority even forming coalitions with the PRD (with whom he's had a serious falling out and which is already itself quite fractured and currently aligned with the conservative PAN for the presidency), the PT (Partido del Trabajo), and the PES (Partido Encuentro Social, an unlikely ally being they are a conservative party). So even with all his promises he won't have the funding he needs to carry them out. He won't be able to undo the Reforma Energética which is bearing fruit, creating jobs and increasing foreign investment, shielding Mexico from the whimsical economic swings affecting much of the rest of the world. He won't be able to undo the Reforma Educativa which is also bearing fruit and improving the quality of education. When he was the mayor of Mexico City over 18 years ago one of his major achievements was the construction of a series of elevated roadways known collectively as "el segundo piso". He never redistributed any wealth. He'll likely be obligated to deal with the problems of violence, narcos, impunity, judicial reform, and public security.

AMLO

by The Fez ⌂ @, Friday, March 09, 2018, 18:43 (197 days ago) @ ZihuaRob

How are members of the Mexican congress elected? Is it proportional representation or election by districts? How is power divided in the government (i.e. checks and balances)?

Real Estate trends

by Karen, Friday, March 09, 2018, 18:32 (197 days ago) @ Coldrain

Here is my take, and e bought in Zihua back when there wasn’t a lot on the market back in 2004.... only buy if your heart is here in Zihuatanejo. Don’t buy thinking it’s an investment, other than it is where you want to be. Yes, you can rent and make some cash flow,, but unles syojr ar aggressively renting, it’s not a cash cow. Also, don’t come down buying thinking it’s the same as in the US or Canada, well, it’s not. And that can be both good, or frustrating, depending on where your heart and mind is.
Do we regret buying? Absolutely not... we think about selling at times, but then we walk in the door and say never! Prices may be negotiable, but only depending on the unique circumstances of the seller and the place being sold... just my 2 cents.

Real Estate trends

by wisconsinjuan @, Friday, March 09, 2018, 19:40 (197 days ago) @ Karen

I used to rent in a popular high rise on Playa Palmar. Year 1, for sale at $600,000. Year 2for sale at $500,000. I'm not renting there anymore, but talked to someone who is familiar with the unit, now asking $450,000. There aren't enough Canadien and Mexican buyers to fill the void of the shrinking pool of Americans vacationing and buying here.

Total BS

by midalake @, Friday, March 09, 2018, 20:08 (197 days ago) @ wisconsinjuan

I used to rent in a popular high rise on Playa Palmar. Year 1, for sale at $600,000. Year 2for sale at $500,000. I'm not renting there anymore, but talked to someone who is familiar with the unit, now asking $450,000. There aren't enough Canadien and Mexican buyers to fill the void of the shrinking pool of Americans vacationing and buying here.

Name the place and the unit.

D

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Real Estate trends

by ZihuaRob ⌂ @, Zihuatanejo, México, Friday, March 09, 2018, 22:03 (197 days ago) @ wisconsinjuan

I used to rent in a popular high rise on Playa Palmar. Year 1, for sale at $600,000. Year 2for sale at $500,000. I'm not renting there anymore, but talked to someone who is familiar with the unit, now asking $450,000. There aren't enough Canadien and Mexican buyers to fill the void of the shrinking pool of Americans vacationing and buying here.

You do realize that tourism in Mexico from the USA was up last year, right? Also up from Canada.

Real Estate trends

by cd69 @, Winnipeg,MB,Canada, Saturday, March 10, 2018, 01:05 (197 days ago) @ ZihuaRob

In Mexico yes but tourism from the US has been down in Zihua/Ixtapa for a few years now and all these warnings and other issues are not helping getting them back...Canadian tourism on the other is up in the region for a few years...

Real Estate trends

by wisconsinjuan @, Sunday, March 11, 2018, 22:44 (195 days ago) @ ZihuaRob

No, I didn't realize that, sorry. How much was the increase, and how does that compare to 2005 (my first trip here)? It sure seems like less Americans and more Canadiens every year, but fewer each year overall. But that is just my anecdotal experience here. One of my golf buddies is in very poor health and has his luxury condo for sale. He bought when the building was brand new and has seen several other original buyers take losses on their units-but not all of them. He feels he will probably take a loss also.

Real Estate trends

by midalake @, Friday, March 09, 2018, 20:09 (197 days ago) @ Karen

Here is my take, and e bought in Zihua back when there wasn’t a lot on the market back in 2004.... only buy if your heart is here in Zihuatanejo. Don’t buy thinking it’s an investment, other than it is where you want to be. Yes, you can rent and make some cash flow,, but unles syojr ar aggressively renting, it’s not a cash cow. Also, don’t come down buying thinking it’s the same as in the US or Canada, well, it’s not. And that can be both good, or frustrating, depending on where your heart and mind is.
Do we regret buying? Absolutely not... we think about selling at times, but then we walk in the door and say never! Prices may be negotiable, but only depending on the unique circumstances of the seller and the place being sold... just my 2 cents.

:megusta:

Real Estate trends

by Bcbuddy, Saturday, March 10, 2018, 07:16 (197 days ago) @ Karen

I was in the area recently looking for a 4+ bedroom beachfront house and viewed six houses in the $1 million range. Beutiful places, little over priced but what was shocking was they have all been on the market for 3-5 years. Made me realize how much more important this decision is, better find the perfect place with no regrets, got to be in for the long haul.

Real Estate trends

by CasaSalidaDelSol, Saturday, March 10, 2018, 12:37 (196 days ago) @ Bcbuddy

Casa Salida del Sol is a new luxury and affordable Condo Building with 2 beds, 2 baths; 4 units in the first tower and 4 more will be built in the second tower, construction to begin in May and will finish in December. We are located in the Porto Mio area of Zihuatanejo, just a few buildings from the Villas El Morro. We have Open Houses from Monday to Saturday, 8am to 2pm and would love to show you around. Starting at $199,000 US, our Complex also has a gorgeous infinity pool and many other unique features, with the most amazing view of Zihuatanejo Bay. Check out our website at www.casasalidadelsol.com.