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JZ
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Posted: Tue Feb 28th, 2006 05:46 pm |
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The problem is that interest rates offered by companies lending in MX is quite high. Typically, you can get a lot lower rate on a 2nd mortgage.
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JB
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Posted: Tue Feb 28th, 2006 06:30 pm |
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Bob Bailey's contact is rbikon@aol.com phone 227-0028, but I don't know if he's in town right now. The rates are 7.99% and 20 years, he can give you all the details.
JZ, as you know many of these posts really get out there, there was one on the other board a day or 2 ago when after someone who was accually involved told the true story (I am aware of it also) they just persisted in slamming someone who had nothing to do with it. This is what Bart is trying to keep at a minimum, and correctly so, and when you try to correct the story you get slammed too!! Then when you try to track it down it always leads to the "Happy hour heroes" passing on "what they heard" from a friend of a friend who's uncle 's cousin was married to someone's Aunt who knows the REAL story!! 
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long time resident
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Posted: Tue Feb 28th, 2006 09:01 pm |
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Most of the realtors here are not related. They have not driven the prices up. The fact that there is very little inventory available is what is driving prices up, and it is only going to go higher before it levels off. We are not living in a bubble. Prices have stayed the same for many years, and then finally when the 21 K was moved, things seemed to take off. Alot of the people in the real estate business work hard, trying to represent their clients, some better than others. But making general comments affecting everyone in the business is hardly fair to those that are honest, and try to make the purchase of property in Mexico as hasslefree as possible. If you are not happy with one, try another. They are all different. San Carlos is a great place to live.
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JZ
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Posted: Tue Feb 28th, 2006 10:55 pm |
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LaHuera wrote: The new coastal highway is driving speculation. ... This is destined to be the new California coast and people with disposable income are always looking for a new deal.
That's what the people in Puerto Penasco are saying, too. My question is this: Why would Californians go all the way to PP or SC when they have the Baja Gold Coast (Tijuana to Ensenada) so close to them, or San Felipe-- which is also much closer than either PP or SC? Also, S. Californians in particular look at The Baja as their personal backyard playground. How will the new coastal highway entice them away?
Also, you are assuming that the "disposable income" component will remain strong. What if it doesn't?
Some Californian's will go to the mainland, but probably a lot more will stay closer to Baja as you state. Mostly, out of proximity, not the desirability of the detination. I have been to all the places you mention many times, and SC is the most desriable by a long shot. SC has breath-taking natural beauty. It is where the desert and mountains meet the Sea. SC remains fairly undeveloped and unspoiled. I don't see this changing any time soon. Also, the boating facilities and community are top notch. The crusing grounds are some of the best in the world.
To me, San Felipe is like a big campo. Dusty and dirty. Home of ATVs and dune buggies. It doesn't have the natural beauty or charm of SC. The extreme tides make it not so suitable for water activities, or marinas.
Some sections in the area from TJ to Ensenda are pretty along the coast. But that area is also a hodge-podge of this and that. And you don't have the tranquil, warm water to swim in like you do in SC. Plus you are also a lot closer to the border, and border towns in MX are the worst.
Baja is much closer to California and it will attract more people from California, and is already. In Baja, Californias are also targeting Loreto, LA PAZ, and the East Cape. Short, direct flights help. Loreto reminds me alot of SC. It is very beautiful. However, the prices they are charging at the big development in Loreto (called Loreto Bay) make SC look very cheap in comparison. From what I've seen the prices in Baja are going up faster than SC, in general.
As for a US housing bubble, here in LA it seems we have come to a soft landing. Prices are not appreciating like they were, but we haven't seen any precipitious price drops either.
Last edited on Tue Feb 28th, 2006 11:56 pm by JZ
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voirdire
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Posted: Tue Feb 28th, 2006 11:20 pm |
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| When I said that this would be the new California coast, I didn't mean that people from California would actually move here. Why would they? I meant that this area has the potential to be like southern California when it was affordable. Some day, prices for a decent house here will start at a million.
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Hook
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Posted: Wed Mar 1st, 2006 12:08 am |
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Here's another perspective on real estate......
My wife and I have all but concluded that in many areas of Mexico (indeed, much of the world) that it makes much more sense to rent in retirement. Too many advantages over tieing up a large chunk of cash into a problematic transaction (in the best of circumstances), bank trust fees, maintenance costs, worries about future encroachments, insurance, neighbors, growing tired of an area, costs of moving your possessions, etc. Rentals are often nowhere near the cost comparison ratio of renting/ownership in the US.
Renting simply furnished houses or apartments isn't for everyone. Some become used to a level of comfort and the need for possessions that they can't do without.
But the money we will have on the sale of our SoCal home (and the interest on the sale at a conservative 4-5%!) will allow us to rent for literally our lifetimes. Earthquake destroy our living quarters? We move on. Hurricane? We move on. Ocean fished out by gill nets? We move on. Develope wanderlust (as we always seem to)? We move on. Like an area alot and want to stay for 2-3 years? That's usually no problem AND you have the advantage of having remained uncommitted in an area and gotten to know the people and the good deals. You move sideways or up in the community.
Think about it. If you net, say, 400k on the sale of your house, that's over 33 years of renting a place @ 1000/month. AND THAT DOESN'T EVEN COUNT THE INTEREST ON THE 400K! You could add that to your housing budget OR simply go about maintaining the principle very nicely. All the while, in an insured, interest bearing accounts that can be accessed wherever you go.
There are many places in Mexico, Latin American, the world where 1000/month is a VERY comfortable abode. Maybe not S.C., if you go through a R.E. agent used to dealing with gringos. But they are there.
2300/month, counting the interest? Holy cow! You'd be amazed what that would rent in Italy, Spain, Portugal, Greece, or many parts of Latin America.
We are not about buying real estate with a concern for investment in retirement. Not interested in the headaches or the beancounting; either stateside or overseas. Would we make more money by buying and then eventually selling? Probably, but maybe not if we bought in an overbought market. Would the increased cash alter our lifestyle appreciably? Probably not. We could already afford to rent more house than we probably need.
Earlier in our lives, ownership would be a no-brainer. Tax laws favor it when your working. But not now. We know it's hard for Americans to see the freedom in NOT owning. We're Americans; we know. But we think this is the way to go.
Bubble about to burst? Who cares.....it will bring rents down with it. Need a quick sale on property you bought in Latin America?. Not happening, from what I've read. That's a stuck anchor that can prevent you from moving to the next area where the tourists and the gill nets ain't.
It's not for everybody.
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Miguel
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Posted: Wed Mar 1st, 2006 12:17 am |
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To poster “voirdire” --
Those are some harsh words and accusations... You said; San Carlos will be “like southern California” ...and a town where “a decent house here will start at a million”
Do you seriously believe Americans and Canadians would screw things up THAT badly?!? Who in their right mind could sanction such changes to S.C.? People that support what S.C. truly IS would never stand for it.
Who could endorse such changes to San Carlos... to the proud Mexican culture, limited local resources, and fragile ecosystem?
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WJC
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Posted: Wed Mar 1st, 2006 02:42 am |
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Of course it could happen! Whoo would stop it? People (both Mexicanos & Americanos) will do anything for money! 
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Hook
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Posted: Wed Mar 1st, 2006 03:13 am |
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Miguel wrote: To poster “voirdire” --
Those are some harsh words and accusations... You said; San Carlos will be “like southern California” ...and a town where “a decent house here will start at a million”
Do you seriously believe Americans and Canadians would screw things up THAT badly?!? Who in their right mind could sanction such changes to S.C.? People that support what S.C. truly IS would never stand for it.
Who could endorse such changes to San Carlos... to the proud Mexican culture, limited local resources, and fragile ecosystem?
Who stopped it in PV, Acapulco and Cabo?
Who's stopping it in Huatulco?
Canadians and Americans have no real RIGHTS to stop this in S.C.
How do you stop the incentive for profit? The feudal system couldn't stop it. Karl Marx couldn't stop it. Pancho Villa couldn't stop it. Obrador or Hugo Chavez can't stop it.
Who will stop it?
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WJC
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Posted: Wed Mar 1st, 2006 03:28 am |
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| Right on, Hook! The "war on drugs" hasn't even made a dent in drug profits. The whole USA government couldn't stop Halliburton from making a killing (no pun intended) in Iraq. The profit motive, as you say, is unstoppable. If people can't profit legitimately, they will do it any other way they can. Trying to stop human nature is peeing into the wind. The drive for profit won't be stopped...the real questions are: Should it be stopped? Isn't profit what made America great? Will the unquenchable drive for profit also be America's downfall? Will greed ruin San Carlos?
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Susura
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Posted: Wed Mar 1st, 2006 03:36 am |
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Does anyone know anything about the Tinajas on the new road to Miramar? There was a notice on the other board but it was deleted before I could read it. Miguel? It was supposedly in Vigia? Thanks a lot for information?
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Tiger
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Posted: Wed Mar 1st, 2006 03:37 am |
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of the land is and if the taxes have been paid, which in many cases they have not.
do you work at the tax office, how you can say such thing? many cases? how many are those?
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Tiger
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Posted: Wed Mar 1st, 2006 03:44 am |
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I will more then happy to teach you the ropes of buying property in San Carlos
mexicomelklein: Are you a teacher?? I;m been in mexico since 1966 and in sc, since 1975 why don;t you set up a real estate school, since you are an expertice, in buying property in Mexico.!!!!
do you want to teach or you want to charge for your knowlodge??
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JZ
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Posted: Wed Mar 1st, 2006 03:53 am |
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Good post Hook. Buying vs. renting is a personal choice. There is no one size fits all answer, and there are pros and cons to both. The best choice for an individual depends on many factors as you state: age, work status, need for liquidity, your nomadic behavior, whether you view it as an investment or not, etc., etc.
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Hook
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Posted: Wed Mar 1st, 2006 05:12 am |
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WJC wrote: Right on, Hook! The "war on drugs" hasn't even made a dent in drug profits. The whole USA government couldn't stop Halliburton from making a killing (no pun intended) in Iraq. The profit motive, as you say, is unstoppable. If people can't profit legitimately, they will do it any other way they can. Trying to stop human nature is peeing into the wind. The drive for profit won't be stopped...the real questions are: Should it be stopped? Isn't profit what made America great? Will the unquenchable drive for profit also be America's downfall? Will greed ruin San Carlos?
There never really was a desire by the "whole USA government" to stop Halliburton. Quite the contrary.......
And it's not really America's greed for profit. It's really human nature. For every American willing to shell out cash, there is a local willing to sell.
Plus, the definition of "ruin" varies from person to person. If we saw the LA Basin in the 20s and 30s and witnessed it now, we might conclude that it is "ruined". Hasn't stopped people from continuing to move there and build there and work there.
Everyone has their own tolerance of living in "ruin". IMO, S.C. is a fair ways off from "ruin".
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WJC
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Posted: Wed Mar 1st, 2006 07:36 am |
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| Hey, Hook. I pretty much agree with everything you say! Why can't you take "yes" for an answer?
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john
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Posted: Wed Mar 1st, 2006 01:33 pm |
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| Hello everybody; let me say that this thread started with someone wanting to purchase a lot or a residence in S.C. and did not receive the service they expect in the U.S. I'm 34 years old from Phx. we have been renting and fishing in S.C. for 8 or 10 years now. We just purchased a lot above the country club in De Anza. I fortunately do not need financing; BUT still could NOT get most of the realtor's to call or e-mail me back. After many years of fishing, renting, and vacationing in S.C. we relized things move very slow in Mexico. Either accept it or buy somewhere else. We had to make three trips down to S.C. in a 5 week period so WE could MAKE IT HAPPEN. It did finally happen; and now our lives are back to normal. I hope this helps anyone interested in buying in S.C. We ended up going with ReMax and they did a really good job Good luck..... John
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Flaco
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Posted: Wed Mar 1st, 2006 02:06 pm |
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| Thank you John
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hans
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Posted: Wed Mar 1st, 2006 03:07 pm |
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for susura
i also saw the Article in the "el imparcial" newspaper yesterday.
go to this adress:
http://www.elimparcial.com
than go to busqueda on the top right and put in sancarlos.
than you will see 2 articles about tinajas where some people (also foreigners) got some land. now there is the rumor that something is wrong with the ownership and that there are a well nown familie of the (high)-society is involved.
rumors ??
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LimeyLInda
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Posted: Wed Mar 1st, 2006 04:50 pm |
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We wish to thank most of the contributors to this thread. It is most valuable to us. We are able to "sort out the wheat from the chaff" Best wishes to all and we owe you a beer when we get down there within the next few months, we hope !!
PS. John has reported a good experience with REMAX. I can also confirm this. Yes, this is a plug for REMAX, and specifically Terry Challis. A good job done and profesionalism is worthy of recoginition. Our up coming purchase of a property in SC will be the 16th home in my lifetime so I like to think I know a little about the subject ( maybe). During this process I made two trips to SC and "interviewed" 6 Realtors and made my choice.
Thanks
Last edited on Wed Mar 1st, 2006 05:31 pm by LimeyLInda
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