Is the Real Estate picking up?

The last 4 sets of guests we have had are here looking to buy a house so they can move down. That seems to be quite the uptick in the past 6 months. All of them are Americans (there goes the neighborhood....jajaja). I also heard that wealthier Tapatio's are buying a lot of the higher priced stuff lately. It appears as though things are starting to move again. It is good timing since the Canadian buyers will be gone for quite some time given the exchange rate and gloomy forecast for the Canadian economy.

People are still buying, maybe not enough to support all the real estate companies but it is quite impressive how many of my clients are buying homes, seems to be an uptick but I cant be sure as I dont track the data.

I read in yesterday's news that "bidding wars" are on again in popular U.S. places.

Our condo association has sold 3 lots, 2 homes and has 1 under construction in the last 6 months. That seems like an uptick to me.

Low/Medium is going a bit. High end like upper Los Solvias in Ajijic is still sitting but who wants a 10 bedroom house for half a million or so? High end market still tough and we have a lot of inventory in high end. Predict they will become old folks homes for us when we can't type :-) :-) Great views but what a terrible walk up the hill.

Z

I know of two 700K + or - USD houses that sold in the last week.  One on Constitucion in 
Ajijic and another in upper San Antonio Tlay.

We sold our home In Chapala Haciendas!

Any input on buyer's nationalities? And, whether by agency or by owner?

Vandre wrote:Any input on buyer's nationalities? And, whether by agency or by owner?

Most are NOB USA!

most are mexican

3 Mexican 1 USA in our place

70 % of the top road in Las Salvias in Ajijic are for sale. Nothing is moving up there. Glad to hear other expensive properties are selling. Many of these properties are old family compounds with a zillion small rooms versus 3K sq ft in four rooms like my rental house down the hill. There houses are fancy mine is big and funky.
Am seeing more Mexican up on the hill at the monthly social meeting. I also think houses up top are priced too high.

Z

Vandre wrote:Any input on buyer's nationalities? And, whether by agency or by owner?

As I understand it, the higher priced stuff (over $250,000) is being bought by Mexicans and the lower priced stuff is the foreigners. The opposite from a few years ago. I would think the majority of the sales would be through the agencies.

There seems to always be a lot of talk of houses "selling", but then the real question is "How many are "closing?"

kiko wrote:There seems to always be a lot of talk of houses "selling", but then the real question is "How many are "closing?"

Most sales contracts are accompanied with substantial deposits of usually 10%, so a better question might be....how many buyers are forfeiting their deposits? Sales/properties through real estate companies are pretty well vetted, FSBO's could be more problematic.

With the strength of the US dollar to the Mexican peso (16.11 today), I can understand why Americans would be buying properties right now, especially those priced in pesos!

not too many of those in our area..

My friend in Riberas just sold her house to new North Americans visiting the area. Her house sold in two weeks.

JohninAjijic would be happy to hear that his house in Los Arroyos Sur just recently sold for $600,000. That was his original asking price about 6 years ago.

CanuckBob wrote:JohninAjijic would be happy to hear that his house in Los Arroyos Sur just recently sold for $600,000. That was his original asking price about 6 years ago.

I guess we file that one under "woulda, coulda, shoulda".

jaja....well the markets is what the markets is. Two years and a very extensive renovation meant a difference of about 220K.

After asking around I think I was more negative than reality. It seems more is going on than I thought. High end houses are still in very large numbers but for sure more activity than in the recent past on all other markets.

Z

Zedinmexico wrote:After asking around I think I was more negative than reality.  It seems more is going on than I thought.  High end houses are still in very large numbers but for sure more activity than in the recent past ...

That's correct.