More Liana Posted March 29, 2013 Report Share Posted March 29, 2013 If you buy an old house to remodel, it will cost you more by the time the remodelling is done than if you buy new. Ten years ago, you could buy an old house and remodel for cheaper. And this info from an Architect here. Buying an old house will never give you the floor plan and room sizes that you want. You'll still have old plumbing and wiring. A remodel will make you tear your hair out and then some. And as someone I know says--only partly in jest--"Can you afford the remodel AND the divorce?" Link to comment Share on other sites More sharing options...
lakeside7 Posted March 29, 2013 Report Share Posted March 29, 2013 There seems to be a couple of significant remodeling projects going on in Ajijic, look like 3 story jobs Link to comment Share on other sites More sharing options...
ajijicis4me Posted March 29, 2013 Report Share Posted March 29, 2013 A remodel will make you tear your hair out and then some. And as someone I know says--only partly in jest--"Can you afford the remodel AND the divorce?" Not true if you get the right quality contractor and it can be a lot of fun too. Link to comment Share on other sites More sharing options...
El Cartero Posted March 29, 2013 Report Share Posted March 29, 2013 I know 3 people who sold homes over 600K USD within 2 months of listing. All had great lake views. 2 in Las Salvias, 1 in Rancho del Oro. I know of a lovely lakeview lot in Las Salvias whose owner turned down 255 USD per sq. meter. The reality, imo, is that a well built home in a great location will sell quickly if priced realistically. Link to comment Share on other sites More sharing options...
ajijicis4me Posted March 29, 2013 Report Share Posted March 29, 2013 I know 3 people who sold homes over 600K USD within 2 months of listing. All had great lake views. 2 in Las Salvias, 1 in Rancho del Oro. I know of a lovely lakeview lot in Las Salvias whose owner turned down 255 USD per sq. meter. The reality, imo, is that a well built home in a great location will sell quickly if priced realistically. Was that this year or 2012? Link to comment Share on other sites More sharing options...
Islander Posted March 29, 2013 Report Share Posted March 29, 2013 My figures are the asking price on a house in La Floresta, i copied it. The lot was nearby. This is what somebody is asking. HookEmHorns: If I built, why would I have to hold for 10 - 15 years or sell at a loss? Where are you getting that information? My reading is listings in this region are in the 2 - 3 years to selling range. I have seen properties on the market much longer than that.. La Floresta area used to be very popular and affluent and houses generally more expensive but the area is getting "tired". Over the last 13 year period it lost the "status" it used to have. Communities like Las Salvias Rancho del Oro and Villa Nova on the west popped up in last 15 years which are in better shape in comparison and have gorgeous views. . Just my opinion. Link to comment Share on other sites More sharing options...
satnrose Posted March 29, 2013 Report Share Posted March 29, 2013 Six months ago I asked a realtor what area is most requested by new buyers. Without hesitation he said, "La Floesta". No, I don't own a house there. Link to comment Share on other sites More sharing options...
ajijicis4me Posted March 29, 2013 Report Share Posted March 29, 2013 I have seen properties on the market much longer than that.. La Floresta area used to be very popular and affluent and houses generally more expensive but the area is getting "tired". Over the last 13 year period it lost the "status" it used to have. Communities like Las Salvias Rancho del Oro and Villa Nova on the west popped up in last 15 years which are in better shape in comparison and have gorgeous views. . Just my opinion. Your post is not just opinion, it is fact. There are lots and lots of newer homes in Las Salvias, Villa Nova, and Rancho del Oro. Although there are older homes well kept too. Rancho del Oro has 4 newer Condos since 15 years ago, Rio Orinoco, Los Arroyos, Los Arroyos Sur and Las Quintas. Link to comment Share on other sites More sharing options...
Islander Posted March 29, 2013 Report Share Posted March 29, 2013 Six months ago I asked a realtor what area is most requested by new buyers. Without hesitation he said, "La Floesta". No, I don't own a house there. That is maybe true but the "clients" profile is different at this time. Link to comment Share on other sites More sharing options...
Mainecoons Posted March 29, 2013 Report Share Posted March 29, 2013 We live right next to La Floresta and are impressed with the quality of the frac's services. The streets are fixed and clean, the trash is picked up, things are painted. True, many of the houses there are "tired" because they are pretty old and need upgrading. You will pay more for an upgrade project there than in many places but the ambiance of the community is first rate IMO. The "deal" is on the corner east of me, NW corner of Juan Manuel and 16 de Septiembre. Spacious home, nice lot, casita, pool. It is an estate sale, asking $250K but I'll bet it could be had for $225, $50K of work would make it a gem in a neighborhood where many houses sell for a half million. One would have to be patient because the property is in probate but it would be worth it. This is a great part of town, easy to walk to centro but spacious and usually quiet. The few lots that are left in this area are small and expensive. Link to comment Share on other sites More sharing options...
Islander Posted March 29, 2013 Report Share Posted March 29, 2013 The ambiance and appeal of la Floresta is created by its mature vegetation and larger lots. I do not see the property on Juan Manuel the same way as Maincoons. I think one would need much more than 50K to make it a gem. It is not a stand alone property as his.(I know very few are) and it would not sell for 1/2 mil$.in my opinion.There is a house on Constitution behind Maincoons which was upgraded ,It is for sale in mid 400s and I would bet my neck that it will not sell even close to that price.(I would not buy it)The nightly music from la Bodega a Wednesday market with lots of cars parked in front, bullring and soccer field just behind the corner and a family on the corner of Constitution and Juan Manuel who are in love with cojetes does not make it exactly quiet. . But you can say that are all "happy sounds" so all is well. Rent in the area first before you decide...as many suggest The property on Juan Alvarez (selling by century21) is much better value for 270 (list) and it also has a pool. Not much upgrades ,if any, needed ...in generally the same area. I believe it was sold just recently. Link to comment Share on other sites More sharing options...
bmh Posted March 29, 2013 Report Share Posted March 29, 2013 yes it sold recently for 80 000 dollars less than the listed price according to a neighbore so the 270 000 was way overpriced.Land 315m2 construction 250m2 pool 3 bed 4 bath if it is the one you are talking about. Link to comment Share on other sites More sharing options...
Mainecoons Posted March 29, 2013 Report Share Posted March 29, 2013 Islander, I didn't say the house would sell for a half million, I said that some of the houses in this area are in that price range. The music from La Bodega is not nightly and they are closing up earlier, not because they give a damn about the neighbors but because their customers apparently prefer earlier hours. During off season, we hardly know they are there except on Fridays and Saturdays. That place is for sale as well and we will all be delighted to see it go. Over here, we don't worry much about on street parking as the homes here, including the one I mentioned, have plenty of off street parking. This is a more spacious area than just a block closer in. Can't figure out who you think in this neighborhood "loves cohetes." The periodic parades down Constitucion love them, that's for sure. One thing we've noticed in looking at homes in Lower La Floresta is that there isn't much in the way of views. We have a stunning mountain view from our first floor terraza and most of the houses around us, including tbe one I mentioned, have nice views too. Not a lot of rentals here and they aren't cheap but maybe you can find one. I agree that with today's multitude of choices and uncertainties in the market, renting is the best way to go at first, even though we didn't. There wasn't a lot to either buy or rent in Ajijic Village when we moved here. We made somewhat of a snap decision and continue to be delighted with this very unusually light and well designed home. Link to comment Share on other sites More sharing options...
bmh Posted March 29, 2013 Report Share Posted March 29, 2013 I own but I would say that if I move here this year I would rent, no way I would buy and even less build. Link to comment Share on other sites More sharing options...
satnrose Posted March 29, 2013 Report Share Posted March 29, 2013 I own but I would say that if I move here this year I would rent, no way I would buy and even less build. Yup, same position, same sentiment. Link to comment Share on other sites More sharing options...
Mainecoons Posted March 29, 2013 Report Share Posted March 29, 2013 Don't be too sure about second hand information from a neighbor. I'll check an inside source and see if I can confirm it. I agree about renting vs. buying now. But when we bought 6 years ago, believe me it was an entirely different situation, the rentals and the properties for sale where we wanted to be were few and far between and pretty awful for the most part. We heard about this place from a local B&B, it was not on the open market. Whole different ball game now and if the lake keeps going down after the rainy season it won't help things. We need another 2010! That was also a really good year for finding all the leaks in houses. The local roofers were driving new trucks and wearing gold chains. EDIT #10 Juan Alvarez listed at $239K, went for $220. A pretty small house. #2 Juan Alvarez was listed at #272, hasn't gone to settlement yet. Link to comment Share on other sites More sharing options...
Mainecoons Posted March 29, 2013 Report Share Posted March 29, 2013 Isn't it great that we live in a place that offers such a diversity of choices and environments for living? This is why I tell people to really explore the neighborhoods/areas to get a feel for which environments work best for them. Link to comment Share on other sites More sharing options...
LaChula Posted March 29, 2013 Report Share Posted March 29, 2013 I own but I would say that if I move here this year I would rent, no way I would buy and even less build. I came as a renter, but didn't like having to move when the LL wanted to tear down the nice adobe Mexican-style house to build a McMansion. It is very stressful for me to move, I like to settle in. I am alone and not getting younger. I knew it would be hard to find the kind of house in the area I wanted with a LONG term lease, and the gods rewarded me with letting the only house in Ajijic that ever called my name become available for sale and the seller gave me a 15 year mortgage. That was in 2000, and I have not regretted it for a second. I am not concerned with the market value, I expect to live here for another 20 years till they carry me out in a box To each his own. Link to comment Share on other sites More sharing options...
solajijic Posted March 30, 2013 Report Share Posted March 30, 2013 #2 Juan Alvarez was listed at $272, sold to friends of ours last week for $80K under asking, so $192K. They'd been chasing it. Link to comment Share on other sites More sharing options...
bmh Posted March 30, 2013 Report Share Posted March 30, 2013 It is a very good price, , the 272 was high so they got a great location at a great price , that is good for them and maybe will make other people wake up on the pricing situation. Link to comment Share on other sites More sharing options...
lakeside7 Posted March 30, 2013 Report Share Posted March 30, 2013 Whatever your preference, remember that every Jan the price of building materials increase and history suggests so has land prices Link to comment Share on other sites More sharing options...
Mainecoons Posted March 30, 2013 Report Share Posted March 30, 2013 Yes, I've confirmed that is also what it went for. Was an estate sale, hasn't closed because it is still in probate. They dumped it and Sola's friends got a real steal. If you are not absolutely fixated on one location, there are some of these deals going around. I wouldn't hesitate to make these kinds of offers now, particularly on these estate situations, they may say no but they could very well say yes as this example shows. Link to comment Share on other sites More sharing options...
bmh Posted March 30, 2013 Report Share Posted March 30, 2013 The house is 250m2 and the land 315m2 considering that the pool and the car port are included in the surface , the house is not large, it is a 2 story house ,I really do not look at it as a dump but a reflection that if you want to sell fast you have to have a realistic price.Many of the houses are sitting on the market for a long time because they are overpriced, it is that simple. Link to comment Share on other sites More sharing options...
valbogyo Posted March 30, 2013 Report Share Posted March 30, 2013 One more suggestion: Wait until the rainy season is here so you can examine the properties for water egress or flooding issues. I almost closed on a house in La Floresta that ended up having serious problems that were not evident to anyone in the dry season. There are a lot of homes there that have absolutely no problems with flooding, but there are others that have chronic problems. Drive around just after a few days of heavy rain and you will see the areas to avoid or know that you may have some work to do on the property. Link to comment Share on other sites More sharing options...
Mainecoons Posted March 30, 2013 Report Share Posted March 30, 2013 The house is 250m2 and the land 315m2 considering that the pool and the car port are included in the surface , the house is not large, it is a 2 story house ,I really do not look at it as a dump but a reflection that if you want to sell fast you have to have a realistic price.Many of the houses are sitting on the market for a long time because they are overpriced, it is that simple. Not quite, you are forgetting that a much smaller house just a couple doors up just sold for more very shortly before this one did. Also, you can look at the front wall and see this house has some serious problems of some sort or another there. An estate sale offer the opportunity to buy below market as the heirs are no doubt being told that it can take years to sell at more typical prices here and they may elect to take a lowball. Exactly why I'm suggesting that any buyers take a good look at the estate sale down the street from me as they may be able to do a similar deal. Link to comment Share on other sites More sharing options...
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