Where Canadians are buying property in Mexico

Where Canadians are buying property in Mexico

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"For example, a condo with two bedrooms and a den with a spectacular ocean view and beach access condo typically ranged between $450,000 and $550,000 in 2007. We performed a search at one of the local brokerages Pacific Boutique Properties and found that you can get the same property between $350,000 and $450,000 today."

What a rip off. If people were a bit more adventurous, learned the language a bit and whatnot they could have a beach front villa for a fraction of the cost. These realtors catering to foreigners sure make a killing on people's fear, laziness, or whatever you want to call it.

Marlene

Mar 2, 2012, 8:32 AM

Post #2 of 30 (2943 views)

Re: [Memo] Where Canadians are buying property in Mexico

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Not sure where that is, but prices have gone down some in most recent years. Here in Mazatlan, the Mexican nationals with money have been paying the same prices as foreigners for ocean views and gated communities. In fact, the two largest residential (gated) communities are inhabited in the majority by Mexican nationals, either a full-time home, a revenue property, or their vacation home when they come from the big cities for a holiday.

(This post was edited by Marlene on Mar 2, 2012, 8:33 AM)

Mar 2, 2012, 8:42 AM

Post #3 of 30 (2936 views)

Re: [Marlene] Where Canadians are buying property in Mexico

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Anything is worth what someone is willing to pay for it (unless you're talking to the tax appraiser). Properties in TX shot out of sight in the 90's when the fools from Calif sold their over priced houses and moved in. Prices here at the lake are ridiculous for what you get. The houses have no HVAC, no insulation, no garage, minimal plumbing etc. etc. and built by guys who are paid a minimum. But, you get suckers who jump before they research hauling big buck$ down here and it artificially over prices the area.
http://www.chapalaweather.net

Gringal

Mar 2, 2012, 10:58 AM

Post #4 of 30 (2895 views)

Re: [stevebrtx] Where Canadians are buying property in Mexico

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...and another unfortunate thing happens to buyers: they suffer from the notion that full disclosure happens here as it does in the states.
It doesn't, and there is no recourse. If that dog has fleas, you need to find them on your own.

Mar 2, 2012, 11:02 AM

Post #5 of 30 (2891 views)

Re: [Gringal] Where Canadians are buying property in Mexico

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No truer works could possibly be said Gringal.
http://www.chapalaweather.net

cindym

Mar 2, 2012, 11:46 AM

Post #6 of 30 (2879 views)

Re: [stevebrtx] Where Canadians are buying property in Mexico

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In Reply To

Your later sentences seem to contradict your first one.
If someone likes what they are buying and decide to pay whatever price, who are we to say they are fools or suckers?
I'm talking about the general market, not the few who really are ripped off, buying a sub-par house and not knowing it.
Of course, it is easy to think others are nuts when one got in earlier for far less, but not everyone did that. All over the world real estate goes up and it goes down.

Mar 2, 2012, 1:23 PM

Post #7 of 30 (2853 views)

Re: [cindym] Where Canadians are buying property in Mexico

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Edited, revised: After giving it some thought my original statement is correct. If you're dumb enough to buy it, that's your mistake, it doesn't make it "worth" what you paid. Example: I have a '96 Mark VIII in storage in TX, 200K miles, I pay $1K a year to store it and my former life - is it worth it? - absolutely not, would I sell the Lincoln to you for $10K - absolutely, but that doesn't mean it's worth it, only means you are sucker enough to anty up, so follows my original answer:

Yes, in pure terms you are correct. I relate to my life and ethics as a salesman. I never purposely ripped anyone off, it wasn't in my nature and I've often told people it wasn't worth it. Now, if they seriously insisted on throwing money down the toilet I suppose it seemed worth it to them at the time, but I inoculated myself against conning people and selling something I didn't believe in.

It's a subjective thing, an ianything is useless to me, worthless because it eats my money and time with no return, of some value to some, I suppose, but not to me and so it is when you get down to hard tacks. I've designed and built houses and worked in many, I can tell you the houses here at lakeside are a huge, let me repeat HUGE ripoff based on land value, materials (or lack thereof), on labor you name it.

Yet real estate people continue, builders continue and the suckers trickle in and the rest of us pay the price. The owners of the place I rent would sell in a heatbeat if someone was dumb enough to offer $350K - but then they wouldn't know about the infrastructure of the property like I do.
http://www.chapalaweather.net

(This post was edited by stevebrtx on Mar 2, 2012, 1:55 PM)

Mar 2, 2012, 1:51 PM

Post #8 of 30 (2841 views)

Re: [stevebrtx] Where Canadians are buying property in Mexico

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Right you are. The prices at Lake Chapala are currently coming back to earth and I suspect they have a looooong way to go before they hit bottom.

As to the original OP, there are quite a few ocean front condos for sale in Manzinillo for under 150K and I think these prices are going to correct even further as well.

Bob
Inside Lakeside
http://www.insidelakeside.com

don pedro

Mar 2, 2012, 4:44 PM

Post #9 of 30 (2796 views)

Re: [CanuckBob] Where Canadians are buying property in Mexico

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In Reply To

Right you are. The prices at Lake Chapala are currently coming back to earth and I suspect they have a looooong way to go before they hit bottom.

bullfarb! we decided in 2000 that we would move here and set budget at 60k cdn[90k usd]. when we bought 6 years ago the canuck buck was worth more and we came under budget including renovations. we didn't want to be house rich and cash poor. and we don't care what it's worth after we croak so it's probably still worth under 100k.-so what!
due diligence will get you what you want around here for a good price.
this place is just perfect for 2 people and 4 street dogs and yes we do some more renos from time to time as the mood strikes.
oh! and we even bought through a gil agency.
http://chapalamexicoinfo.createforumhosting.com
naivete is a chronIc disease and by its very nature;the afflicted never know they have it.-SNORK!

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tonyburton

Mar 2, 2012, 5:31 PM

Post #10 of 30 (2779 views)

Re: [don pedro] Where Canadians are buying property in Mexico

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"60k cdn[90k usd]" - in that case, Pedro, I have some Cnd dollars to sell you...

tashby

Mar 2, 2012, 7:04 PM

Post #11 of 30 (2742 views)

Re: [tonyburton] Where Canadians are buying property in Mexico

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The other day I clicked on the "article" and found it annoying to the point of unreadable. Didn't even get half-way through it. That was before I noticed this thread.

I'm surprised it started a conversation at all.

chicois8

Mar 2, 2012, 7:17 PM

Post #12 of 30 (2736 views)

Re: [tashby] Where Canadians are buying property in Mexico

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Canadians will buy anywhere it doesn't snow and is cheap.......

Mar 2, 2012, 9:14 PM

Post #13 of 30 (2713 views)

Re: [don pedro] Where Canadians are buying property in Mexico

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Well considering the highest the Canuck buck has been in the last 6 years is 1.07 USD that is quite the feat converting 60K CDN to 90K USD. Regardless of this the prices at Chapala are down and will continue to fall. Being that you are staying to the end it is of no consequence. Hopefully you won't need to cash out anytime soon.......Snork.

Bob
Inside Lakeside
http://www.insidelakeside.com

chicois8

Mar 2, 2012, 9:44 PM

Post #14 of 30 (2699 views)

Re: [CanuckBob] Where Canadians are buying property in Mexico

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In Reply To

I could not resist, Bob are you the guy from Canada who on the Thorn Tree board wrote like a pirate and ended with the word Snork????????

mazbook1

Mar 2, 2012, 11:31 PM

Post #15 of 30 (2689 views)

Re: [chicois8] Where Canadians are buying property in Mexico

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I'm not Bob, but that was our friend with the screwy exchange rate on this thread, don pedro.

don pedro

Mar 3, 2012, 4:21 AM

Post #16 of 30 (2676 views)

Re: [chicois8] Where Canadians are buying property in Mexico

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In Reply To

I could not resist, Bob are you the guy from Canada who on the Thorn Tree board wrote like a pirate and ended with the word Snork????????

awright awready, i had a mathly challenged moment. shoulda wrote 60k usd,90k cdn. i am still on thorn tree and use pedro speak on occassion-SNORK! boobie is not bright enough to have invented his own language. that takes a good grounding in at least one existing language like english for example.
as to prices here,i discovered years ago there are 2 markets. the agencies which cater to ferners and the se vende signed and word of mouth,the later 2 being the largest inventory by far. same thing applies to contractors for building and renovations.
http://chapalamexicoinfo.createforumhosting.com
naivete is a chronIc disease and by its very nature;the afflicted never know they have it.-SNORK!

Mar 3, 2012, 6:55 AM

Post #17 of 30 (2651 views)

Re: [don pedro] Where Canadians are buying property in Mexico

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Jajajaja........"Peedro speak" is a way of explaining that one is too lazy to look up proper spelling and diction.

6 years ago (2006/07) the average exchange rate was between 10% - 20% so at most your 60K USD should have been 72K CDN. Better take a calculator to your next deal. Or were you using Peedro Math.....?????? LOL

Bob
Inside Lakeside
http://www.insidelakeside.com

(This post was edited by CanuckBob on Mar 3, 2012, 6:56 AM)

don pedro

Mar 3, 2012, 7:30 AM

Post #18 of 30 (2628 views)

Re: [CanuckBob] Where Canadians are buying property in Mexico

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perhaps it's too early in the morning for you to read carefully,boobie. we set that budget in 2000 not 6 years ago[1.5426 canbuck to buy a yanqui buck and peso ya got .625].todays rate fer a canbuck-12.89 pesos.
as to proper spelling and diction- i am exceedingly brilliant with the english language. i refuse to use spell cheque[whoops check] because it ain't proper english. you will note if you type the word cheque, it will be red underlined because spell check is yanqui and not proper english.
http://chapalamexicoinfo.createforumhosting.com
naivete is a chronIc disease and by its very nature;the afflicted never know they have it.-SNORK!

(This post was edited by don pedro on Mar 3, 2012, 7:42 AM)

Mar 3, 2012, 7:41 AM

Post #19 of 30 (2620 views)

Re: [don pedro] Where Canadians are buying property in Mexico

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And your brilliance is only exceeded by your good looks and modesty............Jajajajaja.

I guess if you used proper punctuation (IE capital letters where applicable) then your meaning could be better understood.

Bob
Inside Lakeside
http://www.insidelakeside.com

(This post was edited by CanuckBob on Mar 3, 2012, 8:02 AM)

careyeroslib

Mar 3, 2012, 3:41 PM

Post #20 of 30 (2525 views)

Re: [Memo] Where Canadians are buying property in Mexico

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In Reply To

I´m currently sitting on our beachfront lot (in a cabin not a villa) an hour north of Puerto Vallarta. We also have a 2 bedroom condo on the ocean in Puerto Vallarta.

At this time, there is no way you can get beachfront property in this area cheaper than a beachfront condo. So, my question to Memo is, what are you talking about? Specifically.

(This post was edited by careyeroslib on Mar 3, 2012, 3:49 PM)

Memo

Mar 3, 2012, 5:15 PM

Post #21 of 30 (2497 views)

Re: [careyeroslib] Where Canadians are buying property in Mexico

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Well the whole PV area is obviously an oversaturated tourist trap where everbody gravitates towards like sheep. Im talking about Veracruz, Oaxaca, Campeche, Chiapas...There are a million sweet spots to set yourself up for a total cost of 150 000 or so. But I understand that not everybody cant navigate in the language or wants to immerse themselves in the culture so they choose to go through an intermediary. Its just amazing to me the dear price they have to pay for it. 450 000 is a fortune in Mexico. I could buy an entire ranch for that price. I know of beach front plots in Chiapas going for 5000 dollars. Now, there are no whities around to play bridge with, no fancy restaurants and its black sand beach but the locals are interesting and friendly, the seafood is fresh and the sunsets are spectacular. Apples and oranges I guess.

Mar 3, 2012, 6:30 PM

Post #22 of 30 (2477 views)

Re: [Memo] Where Canadians are buying property in Mexico

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I know of beach front plots in Chiapas going for 5000 dollars. Now, there are no whities around to play bridge with, no fancy restaurants and its black sand beach but the locals are interesting and friendly, the seafood is fresh and the sunsets are spectacular. Apples and oranges I guess.

Where? - sign me up, no pretentious gringos, no SuperThief, no restaurant reviews? - heaven, sign me up.

Oops, forgot to ask, do they have a weather station? - no - even better, who cares.
http://www.chapalaweather.net

(This post was edited by stevebrtx on Mar 3, 2012, 6:32 PM)

careyeroslib

Mar 4, 2012, 6:29 AM

Post #23 of 30 (2409 views)

Re: [stevebrtx] Where Canadians are buying property in Mexico

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Thank you for your rude, uncivilized and obviously jealous post Memo.

I´m sorry I posted and wish I could delete my post. I didn´t realize I was answering a Russ Limbaugh wanna be.

Have a nice day.

(This post was edited by careyeroslib on Mar 4, 2012, 6:33 AM)

Mar 4, 2012, 6:48 AM

Post #24 of 30 (2401 views)

Re: [careyeroslib] Where Canadians are buying property in Mexico

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Wow, did you get up on the wrong side of the world today or what? I was mostly serious, I was up at midnight last night looking online at Chiapas (and I probably don't stay up past 11 more than 4 times a year). I was totally serious about the gringos here at Lakeside and yes, even the weather station. I'm not sure what you imagined I was commenting on, but I was serious, I've got about one more year left in me here before I move along, so lighten up and don't be so sensitive. Now, that being said, go back and put my post in context and tell me who is rude.
http://www.chapalaweather.net

donemry

Mar 4, 2012, 7:11 AM

Post #25 of 30 (2390 views)