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Interesting comments on property valuations


Coyote11

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Having been a Realtor in the U.S., the most important thing I learned is that "a home is only worth what a willing and able buyer will pay for it." Market conditions, timing, condition, location are all contributing factors, however you can only get what someone is willing to pay.

What I find interesting here at Lakeside is retirees in their 70s wanting to move back NOB that are holding out for what they want to get for their house here. If they really want to move, they need to price it to sell. If they don't price it to sell, then they are pricing it to live in it. 

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On 2017-01-27 at 2:35 PM, tomgates said:

You assume people from Guadalajara who buy homes here Lakeside only have Pesos. Many well to do Mexicans have money outside Mexico in the US.

Recorded data provided from my realtor on past sales in the last year, roughly shows 1 out of 10 sales was by a Mexican. The majority was Americans then Canadians. 

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  • 3 weeks later...

We are in a totally Mexican neighborhood and love it.  We offered to purchase the house we are renting so the agent gave us a market analysis with a sales price....but all it was, was a list of places for sale which I had already compiled.  So I asked them for a list of sold properties.....they gave me another list and raised the price by $13,000 USD!!!  I have spoken to some of the neighbors and they just bowled....saying the price should be a bit more than half of the new price.  No sale here.

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Factor in that many Americans no longer have the cash to purchase outright and that mortgages are scarce in Mexico and mortgages to seniors are tough to get. If a buyer does not have full asking in cash, they are limited in what they can purchase. Unless you'll find a seller who'll carry a note.

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On 2017-02-17 at 8:37 AM, HarryB said:

the best properties are sold without going on MLS.

There are a lot of properties that are overpriced on MLS that sit there for years. There is also a portion of sellers that NEED to sell quick. Those are usually better priced and sell faster.  Also it's not uncommon to offer low and see who will accept. After all there's so much inventory on the market. Find an agent that is honest and will present the offers you give them.

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