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 Moderated by: bartmanaz Page:  First Page Previous Page  1  2  3  4  5  Next Page Last Page  
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Selling house  Rate Topic 
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 Posted: Thu Nov 14th, 2019 04:15 pm
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41st Post
chucklesg
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Mana: 
It is a shame that quality projects in San Carlos, like Loma Del Mar, with 24/7 security, reliable water and trash removal, also suffer from the same maladies that plague other resales. Perhaps it is the Grossman's reputation that scares folks away, but if that can be ignored, LDM can be a good choice.

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 Posted: Thu Nov 14th, 2019 11:54 pm
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nice guy
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He built my current house and 100+ more here. So I know his style and he knows my expectations. He doesn't build Taj Mahal's and I don't need a Buckingham Palace.

Restaurant huh? It's more like a great cook asks you to their house for dinner. You don't ask what's for dinner. You don't need to. You know they're a great cook and what they choose to make for dinner will be excellent.

The lot is whatever you choose. From about us$10k on up.

So an 800 sf house (56k) on a 10k lot is $66k plus trust, util hookup, etc. Add a carport and driveway and enjoy. And that's city water, sewer, cfe elect, Tel,

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 Posted: Fri Nov 15th, 2019 01:42 am
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nice guy
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LDM has some great benefits, including my friendly widow, the pool, etc. But as an "asset purchase" - it's not smart. It's a lease - you have no asset unless it has a license plates and can be driven/towed away. No pay the lease, and no "buyers" = they own it all. Not smart.

Last edited on Fri Nov 15th, 2019 01:42 am by nice guy

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 Posted: Fri Nov 15th, 2019 02:52 am
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frankie
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frankie wrote:

GREAT POINT!! square foot price is as ambiguous as going to a restaurant and asking what's for dinner!


apples with apples, oranges with oranges!


niceguy, i have dealt with armchair experts as you all my 40 year career! if you are comfortable in "infonavit"style housing i am happy for you!
 most of the readers are well aware of costs and  the actual variations of getting a square foot prices. building on owned lot, buying lot and building, selling existing properties !! ALL DIFFERENT SQUARE FOOT PRICES, THE BOTTOM LINE, IS THE COST!

Last edited on Fri Nov 15th, 2019 02:53 am by frankie

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 Posted: Fri Nov 15th, 2019 04:18 am
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Bullshipper
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There were over 800 mls listings 3 years ago in SC, and there were less than 300 recently. New housing tracks have sold out quickly too. But as we have a lot of retirees, large numbers of homes come on the market yearly and depress prices.

Last edited on Fri Nov 15th, 2019 04:24 am by Bullshipper

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 Posted: Fri Nov 15th, 2019 05:47 pm
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Kathy R
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Nice Guy, beg to differ. After bouncing around San Carlos, renting, etc., for 13 years, we purchased in Loma del Mar, lived there for 13 years, and SOLD our place for nearly the same amount we had paid for it in 1990. Sure, we paid a monthly fee which covered all the amenities, but the place we lived in was ours.

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 Posted: Fri Nov 15th, 2019 06:36 pm
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nice guy
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Kathy, I thought it was clear that I was referring to the "leased" places. I guess not.


Secondly, what you paid in 1990 and what you sold for in 2003 - are different dollars in terms of purchasing power and reflect the impact of inflation. 


Between 1990 and 2003 there was about 45% inflation in terms of US$. So, if you paid us$100K in 1990 for a property and sold it in 2003 for us$145 - you got ALL your "money" back. If you sold it for almost the 100k - say 95k - you ended up losing about us$50k.

Last edited on Fri Nov 15th, 2019 11:06 pm by nice guy

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 Posted: Fri Nov 15th, 2019 06:48 pm
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frankie
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nice guy wrote: LDM has some great benefits, including my friendly widow, the pool, etc. But as an "asset purchase" - it's not smart. It's a lease - you have no asset unless it has a license plates and can be driven/towed away. No pay the lease, and no "buyers" = they own it all. Not smart.

there is NOTHING CLEAR about you ramblings, other than they are just that "ramblings:!!!

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 Posted: Sat Nov 16th, 2019 02:40 am
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Kathy R
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Re #47 - ah yes, but I had 13 wonderful years of use and enjoyment of San Carlos and all it offers - I don't think the place owed me a dime!  Actually a total of 26 years, but 13 of them in Loma del Mar.  

Last edited on Sat Nov 16th, 2019 02:43 am by Kathy R

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 Posted: Sat Nov 16th, 2019 05:33 am
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Bullshipper
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13 years rent costs something too.

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 Posted: Sat Nov 16th, 2019 03:28 pm
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seeco
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We were interested in buying and actually tried an offer on a couple of occasions, but now have decided to keep on renting, not having to worry about a resale when the time comes. The negative publicity is a factor.

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 Posted: Sat Nov 16th, 2019 03:49 pm
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Kathy R
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I've never found anyplace I could live for free, even when I owned a farm and a home. Paid property taxes, irrigation fees, power bills, etc., and when we moved to town to a "senior housing" area, we own the house, but we pay monthly fees for the property and amenities, just as we did in Loma del Mar. And, just as it was there, we can sell the house whenever we want and leave.

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 Posted: Sun Nov 17th, 2019 02:20 am
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frankie
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i had mortgages from the start of my adult life to about 48! proud of my accomplishments i have been mortgages free sense that age! now in my golden years, what i am paying in property taxes, HOA fees, "fidiocamisio". monthly utilities, monthly expenses / up keep. the bottom line for out going expenses is nearly the same as when i was mortgaged!
life is a bitch and then you die!

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 Posted: Sun Nov 17th, 2019 04:55 am
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Hook
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You dont rent in LDM. For 13 years or 1. It's precluded. It's actually one of the drawbacks in buying in there, from an investing standpoint.

Even on the leased property (of which there is also direct ownership interspersed), people sell what they have for SOME amount. Sometimes less than they paid, sometimes more.

Renters walk away with nothing.

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 Posted: Sun Nov 17th, 2019 12:59 pm
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RichD
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It seems to me that the decision to rent or buy depends on your commitment to how long you intend to live in San Carlos and for how much of the year. Property is easy to buy, sometimes hard to sell. If your home is unoccupied for 6 months a year there is an increased risk of break ins. If you intend to live in SC full time for 5 years or more it makes sense to buy. If not, it is a crap shoot. Just an opinion of course.


It is not a given that property values will increase.  The real estate commission is an expense that does not mean much spread out over 5 years of more. 



Last edited on Sun Nov 17th, 2019 01:06 pm by RichD

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 Posted: Sun Nov 17th, 2019 02:04 pm
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frankie
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the attraction and the appeal! that is the driver for San Carlos! prior to 2008 San Carlos was very attractive and extremely appealing! the housing market had a stable appreciation growth rate, from 0 to about 1/2 a point, nearing 2008 about 1 point annually! those times where not effected by a 0 appreciation nor was there any NEGATIVE depreciation! there was little or any losses taken in sales prior to 2008, because of stable market! 


that made San Carlos ATTRACTIVE for investment with questionable financing, readily available NOB!! that is when WE entered the bubble, caused by unrealistic appreciation rates, exceeding a normal and stable 1/2 to 1 point annual appreciation rate! it was a title wave boom! the bubble exploded NOB and took the global economy down with it!


that leaves us were we are today, aging and failing infrastructure, questionable if any police security, causing increased crime! NO EASY OBTAINABLE FINANCING for home investment!


this is not going to be an easy or inexpensive or a short term fix! it is possible and most want it, but at times it also seems that we will never see the light at the end of the tunnel!


until these problems are resolved, San Carlos, IMHO will not be a safe and secure investment!

Last edited on Sun Nov 17th, 2019 06:26 pm by frankie

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 Posted: Sun Nov 17th, 2019 08:02 pm
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Bullshipper
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It all depends on the buy price, location, water and he garbage service and security. I live in Solimar and have had offers to buy that are more than I paid. But I think I am lucky to be the exception

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 Posted: Mon Nov 18th, 2019 03:08 am
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Hook
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frankie wrote: the attraction and the appeal! that is the driver for San Carlos! prior to 2008 San Carlos was very attractive and extremely appealing! the housing market had a stable appreciation growth rate, from 0 to about 1/2 a point, nearing 2008 about 1 point annually! those times where not effected by a 0 appreciation nor was there any NEGATIVE depreciation! there was little or any losses taken in sales prior to 2008, because of stable market! 


that made San Carlos ATTRACTIVE for investment with questionable financing, readily available NOB!! that is when WE entered the bubble, caused by unrealistic appreciation rates, exceeding a normal and stable 1/2 to 1 point annual appreciation rate! it was a title wave boom! the bubble exploded NOB and took the global economy down with it!


that leaves us were we are today, aging and failing infrastructure, questionable if any police security, causing increased crime! NO EASY OBTAINABLE FINANCING for home investment!


this is not going to be an easy or inexpensive or a short term fix! it is possible and most want it, but at times it also seems that we will never see the light at the end of the tunnel!


until these problems are resolved, San Carlos, IMHO will not be a safe and secure investment!


There was little if any losses taken prior to 2008 because the price of buying and building in the 70s, 80s, and 90s was so low, compared to where the appreciation went from 2002 on. It was NOT that stable a market from 2002-2008. There was significant appreciation occurring as part of the overall worldwide bubble. That's not my definition of stability. It was a volatile environment, just like in the States. But some of us made money in real estate in the run-up to 2008 and invested some of that money in San Carlos real estate.


I really thought the bubble burst was 2-3 years delayed in San Carlos. People could hold out for something close to their asking price because it is so cheap to hold onto property here, compared to the US or Canada.


One REALLY significant determining factor on sales in San Carlos is tied to the "waves" of successive retirees that eventually get too old to be away from their countries' health care and too old to deal with all the little inconveniences (now becoming much BIGGER inconveniences) of owning in Mexico.  


These waves have seemed to run in ten year cycles. People retire around 65:  become too old to deal with the inconveniences around 75. The death of a spouse around that age also occurs, and that is motivation for moving on. 


If they purchased before the bubble run-up, they could take a lot less than "market value" (not that the MLS in this town really indicates what market value is!) and still have turned a profit. 


But those days are ending. We are at the end of another ten year cycle;  a cycle where people generally bought high, for the first time in San Carlos' history. And the security and infrastructure issues in Mexico are strong motivators to sell even at a loss.


These security/infrastructure issues are probably why Mexicans are the vast majority of buyers. They are used to having water, sewer, garbage and crime problems from whence they came. Those problems might actually be better HERE than their THERE.


If you come from a country where these things generally work, it's harder to accept, even at the reduced costs. 


Seriously, what good is having really cheap water and garbage service if you can't get it anyway?

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 Posted: Mon Nov 18th, 2019 04:00 am
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frankie
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Hook wrote:

There was little if any losses taken prior to 2008 because the price of buying and building in the 70s, 80s, and 90s was so low, compared to where the appreciation went from 2002 on. It was NOT that stable a market from 2002-2008. There was significant appreciation occurring as part of the overall worldwide bubble. That's not my definition of stability. It was a volatile environment, just like in the States. But some of us made money in real estate in the run-up to 2008 and invested some of that money in San Carlos real estate.



granted the prices where lower in 70s. 80s. 90s! but there is far more aggressive development and building going on in the last 5 years here! than previous peaks!
how many people are the original owners of these 70s, 80s, 90s homes! as you stated and i agree attrition from a loss of a spouse or heath has taken its toll!
most of those described homes are below $200,000. or LESS!! there is a fair resale market pushing that price range!
maybe some one can chime in how many homes from $200,000 to $800,000 have sold in the last 2 years?? there are a lot of them on the market!


p.s. i made good money building homes here from 2000/2008! most my spec homes would sell the first few months under construction! i started in the $100,000 and by the second home moved to over $200,000.!



Last edited on Mon Nov 18th, 2019 04:10 am by frankie

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 Posted: Mon Nov 18th, 2019 12:52 pm
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Hook
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Not many of the original owners are here, but the homes were sometimes inherited by their heirs.........which delayed their sales into another 10 year cycle.

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