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 Moderated by: bartmanaz Page:  First Page Previous Page  1  2   
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Article on Guaymas financial problems  Rate Topic 
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 Posted: Wed May 17th, 2017 02:06 am
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Bullshipper
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Mana: 
The USA is more in debt than any other country, so run baby run if you actually follow your line of logic.

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 Posted: Wed May 17th, 2017 02:17 am
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Hook
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Mana: 
All the "evidence" I see is anecdotal, i.e., "I knew two couples", "I saw one house sit forever" (really, only one?), I met four renters who were "thinking" of buying, etc.

Look at who is building in the Ranchitos. Look at the changes in Vista Marina. Look at the changes in the CC. Along Mangalares. Ask a reputable real estate agent about trends (there are some that won't be honest about it, though).

Saying that gringo flight is occurring is a value-neutral statement, BTW. I still own in San Carlos. No plans to sell. But I dont have sewage problems or water problems. My biggest concerns are the drop in fishing and the prospect of San Francisco Beach being developed and the beaches being closed to public access.

Last edited on Wed May 17th, 2017 02:20 am by Hook

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 Posted: Wed May 17th, 2017 02:25 am
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Bullshipper
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There are 250 listings in the MLS today. There were 800 3 years ago when I bought.

With the cosntant water problems in Ranchitos, I sure wouldn't develop more property there, but Lubbert is putting in 40 homes next to Solimar, and Marina real has about a dozen in different phases of construction.

Plus all the good contractors I know are busy, and its late in the year.

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 Posted: Wed May 17th, 2017 02:29 am
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Hook
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Bullshipper wrote: There are 250 listings in the MLS today. There were 800 3 years ago when I bought.

With the cosntant water problems in Ranchitos, I sure wouldn't develop more property there, but Lubbert is putting in 40 homes next to Solimar, and Marina real has about a dozen in different phases of construction.

Plus all the good contractors I know are busy, and its late in the year.

Did someone say that the real estate market wasn't healthy?

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 Posted: Wed May 17th, 2017 05:38 am
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RichD
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Mana: 
I live in the Ranchitos and have not been short of water in several years. I am not sure why others have issues.

Hook, I get it, anecdotal evidence is not accurate sometimes but real estate agents don't have real data on who (NOB or National) is buying property throughout the community either.

I have no doubt that Mexican citizens are buying more than in years past but I think the Gringos that leave are mainly for the usual reasons... health.

Comparing Guaymas debt to US is not a fair comparison. Guaymas is in deep doodoo for a relatively small city with a limited income stream. Not sure how they are going to resolve it.

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 Posted: Wed May 17th, 2017 02:21 pm
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frankiej
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Mana: 
rich & hook,  you both have made valid comments!
we are commingling several issues!  the thread started with guaymas's financial failings!

1) there is no doubt concerning guaymas's debt! most of it was caused by embezzlement and prevails under mismanagement! 
* improper property taxation: under taxed properties and over taxed  properties.  failure to collect owed taxes.  unfair distribution of funds.

2) federal mandate programs without federal funding. IE; the street lights from the hiway to paradiso. nice to have street lighting, but who is paying the electric bill? the dolfinaria, who is paying for the infrastructure of the ingress egress road? new street lamps on the vista marina road to playa pierdas pintas.  this the 21st century and the street lamps described are not using currently available efficient light bulbs??

there is no doubt the demographics are changing here in san carlos! i would venture to say over 90% of the resale and 98% of the new starts are mexican nationals!

"the perfect storm" regarding the real estate here;
* 2008 global economic crisis
* approximately 80% loss in the exaggerated "BOOM" home prices, here
* approximately 50% loss in preboom housing
* natural attrition with our older residents, health and mortality reasons.
* NOB's who purchased their homes here, from equity loans they received from their overly exaggerated home values NOB, having to sell at fire sales or risk losing their primary residence!!!
* NOB governmental and media propaganda campaign against travel in mexico. 

are the mexican nationals filling the void at a higher percentage than the NOB's, YES!!

construction: most of the new starts are from out of town contractors brought here by the buyers who are from obregon, hermosillo.

very few local contractors here are getting new start homes! most of US are getting by doing remodels!!!

Last edited on Wed May 17th, 2017 02:44 pm by frankiej

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 Posted: Wed May 17th, 2017 02:42 pm
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RichD
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re: i would venture to say over 90% of the resale and 98% of the new starts are mexican nationals!

Where are you getting that information?

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 Posted: Wed May 17th, 2017 02:54 pm
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frankiej
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Mana: 
i am vested here in real estate! i know all the real estate agents in town! so from my personal experience and with what i am hearing from the real estate agents, that is where i am getting my approximate percentages!!!

 i live in puesta del sol, in the past 3/4 years only mexican nationals have purchased here, we this month had a couple from tucson purchase!

look around the nationals are definitely the higher percentage!

there are NOB's buying and their numbers are increasing! i sold a spec house i had on the market 9 years in january to NOB's!!

P.S. i am a local contractor/developer and have been in the real estate business over 37 years. i was a licensed real agent and contractor in the state of arizona over 33 years! i have had real estate investments here in san carlos over 16 years!
i have survived the ebbs and flows in both countries and speak from experience!

Last edited on Wed May 17th, 2017 03:46 pm by frankiej

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