Posted by Daniel on September 16, 2007, 4:52 am, in reply to "Real estate market gone flat?"
Message modified by board administrator September 16, 2007, 9:39 am
Hi Smitty, |
The Costa Alegre Properties website is getting a long needed update next week. There are some properties which have sold and not been removed, and there are some exciting new listings.
Personally I would say the summer season has been about average. As would be expected buyers are reflecting the current Real estate situation in both the USA and Canada (check out that Canadian dollar ).
In watching global politics and economies Mexico in general and La Manzanilla in particular are situated not only to retain their real estate value but for prices to increase dramatically due in part to it's natural resources, labor base, lack of red tape, climate, travel time to other countries and (increasingly more important) it's foreign policy. Peace is as important as location and La Manzanilla has a lot of both. The only locations which will suffer a loss in value will be anything located on the Hurricane ridden Gulf area or close to the northern border.
I feel that once La Manzanilla is able to get fideicomiso (bank trust) prices are going to double almost overnight. Once the features of La Manzanilla and Costa Alegre (like the low number of hurricanes) have come to the awareness of the global market there will be a price increase which will not only mirror what happened in Cancun in years past but surpass it.
As it is now there are a few TITLED beach front lots available in the $250 to $300,000 range. Titled beach front lots on the Bay of Tenacatita with the useability and features this area has in that price range is a steal! I feel that they are extremely under priced and around 2 years from now those lots will be selling in the $500,000 and up range and in around 5 years be worth over a million per lot with not one of them available on the market.
Let me know if your ready Smitty. I have worked quite a bit with you in the past and would rather be sitting around talking about the "ole day's" with you as a resident than a witness. The Boomer's are coming.
That's the D report.
Adios for now,
|By posting, you confirm that you have read and |
Be sure to visit www.lamanzanilla.info