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HOUSING MARKET IN LAKE CHAPALA


Apachewoman
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Is the residential sales market buzzing...lots of hovering activity over the listings in Lakeside?

What price range is most sales active?

Can one expect to buy a 2 bedroom 2 bath house in a nice neigborhood for less than $200,000 US?

Are there sought after areas outside of AJIJIC?

Please share.  Realtor information is fine but I would like to hear from those who have shopped

and bought a home in the area and who might be aware of current market details.

Thanks

 

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Why don't you look at chapalamls.net and judge for yourself.  on the MLS site you can choose properties for sale or under contract. Google walk neighborhoods to get an idea of what they are like (not current views but a good start).   Real estate market here is not like NOB.

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I am always looking at the prices people and or realtors are asking for houses and am floored. So one day I was looking and a realtor asked if he could assist me and of course the first thing I am thinking of are the prices of houses. He told me that 7% was the magic number at which they overprice which I think is a bit low, I would have to start at 10-12%. And yes, you can find properties in your price point outside Ajijic but remember, good things come to those who wait.

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I would hesitate to suggest building to a person who is not yet familiar with the area, the workers and the costs.  My suggestion is the usual:  Rent for at least six months before even considering buying or building.  You should learn about neighborhoods without making a big financial commitment. Houses usually sell slowly for many reasons, including the unavailability of good financing options such as are found in the States.

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A lot depends on the U.S. Dollar. There is a lot of speculation where it is heading right now:

https://www.google.com/search?source=hp&ei=i_2KW5yfM6fKjwT_14igDQ&q=will+u.s.+dollar+collapse&oq=U.S.+dollar+collapsing&gs_l=psy-ab.1.0.0i22i30k1.1628.11867.0.13938.22.17.0.5.5.0.224.2763.0j13j3.16.0....0...1c.1.64.psy-ab..1.21.3007...0j0i13k1j33i21k1.0.58jUQRY-HOY

For many, many years the exchange rate was 10 to 1, many bought their properties at that rate, and many old timers here are stuck in that mindset (as in "I bought my house for $100,000 $US, I am sure not going to sell for less than that!"). Of course now, it is closer to 20 to 1. So - would you pay $400,000 U.S. for a property in Ajijic? A property which may be worth half of that within one year? Of course for many, life is short, money is plenty, so get on with living the good life as soon, and as long as possible.

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back in 1996 after having been in Mexico for a week most of which was in Ajijic, I saw a dream house that I knew I could not afford so I made an offer at 65% of the asking price subject to the sale of my primary residence in Seattle and shockingly the offer was accepted. I sold my home in Seattle to took occupancy in the summer of 1997.

I did everything wrong, did not follow the advice of anyone, and somehow everything turned out OK, thank God. And I have been happy ever since. At the beginning I came to Mexico to escape the bad Seattle winters and was here 4 months the first year. Now I live here hopefully more than 8 months per year and go north 3 times per year for short visits.

Today Mexico is home and the north is where I visit old friends and relatives.

Thank God my stupid decision making turned out a perfect solution, one I could not have done better had I studied all of the alternatives over several years by renting.

Don't do what I did.  Too often it turns out bad. Luckilly I guessed right and everything is great for me.

I recently asked what my house was worth today, and was told a figure that was more than 3 times what I paid in 1997. No way am I going to sell and return the confusion up north.

 

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So, the fates were with you, Pete.  Good to hear.  We bought a "tear down" in a good location in 2008 and have since accepted it for the money pit it is. If we ever sell, I'd be happy to come out even.  However, we love it and will probably stick our heirs with it.😉

I still say "rent first", since I hear all too many tales of woe from people who bought and later discovered things like a noise nuisance in the neighborhood.  Location really is ALL.

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I have followed house prices in Ajijic for the last 6 years and in the last 2 years they have gone up 25 to 50 %.  You use to be able to buy a nice 2 bedroom house for $150 to 200,000.  Now it will be over $200,000 and the inventory has been depleted .  I have looked at houses all the way from Roca Azul to Chapala.  At the moment the best buys are in Chapala Haciendas but I think they have a crime problem.  In my opinion the best buys now are in Riberas Del Pilar.  You are close to Chapala and Ajijic and the area is starting to boom.  There are several good restaurants and medical attention in the area.

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14 minutes ago, rafterbr said:

I have followed house prices in Ajijic for the last 6 years and in the last 2 years they have gone up 25 to 50 %.  You use to be able to buy a nice 2 bedroom house for $150 to 200,000.  Now it will be over $200,000 and the inventory has been depleted .  I have looked at houses all the way from Roca Azul to Chapala.  At the moment the best buys are in Chapala Haciendas but I think they have a crime problem.  In my opinion the best buys now are in Riberas Del Pilar.  You are close to Chapala and Ajijic and the area is starting to boom.  There are several good restaurants and medical attention in the area.

Be sure to check out groundwater and sewer issues in that area.

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There is no problem with ground water if house has a proper base of 3 feet in the ground., Not sure how you would know this but if it is an older house just look for cracks around the doors and walls.  There is not a public sewer there so the houses have septic tanks.  It is best if it has a dark water and grey water tank.  Find out the construction of the tank.  If it is flimsy the ground water can force it out of the ground or cave it in.   This sounds like more problems than there actually is in Riberas.

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3 minutes ago, rafterbr said:

There is no problem with ground water if house has a proper base of 3 feet in the ground., Not sure how you would know this but if it is an older house just look for cracks around the doors and walls.  There is not a public sewer there so the houses have septic tanks.  It is best if it has a dark water and grey water tank.  Find out the construction of the tank.  If it is flimsy the ground water can force it out of the ground or cave it in.   This sounds like more problems than there actually is in Riberas.

I know people who have had serious problems in that regard, probably because they didn't do what you suggest above before buying.  Having a public sewer in an area is more desirable, and the lack of it is one reason the prices are lower.

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It also has a lot to do with people not understanding the care and feeding of the septic tank. I won't take away from the OP but it's easy to find out on google.

"Though things that are flushed are often hush hushed,

It's important that you should know

In the city, you're not, when you sit on the pot

Lest you block what is known as the flow.

Foreign things at a junction, often cause a malfunction

If the contents aren't bodily made.

And, while you seek relief, you'll cause nothing but grief

And the management's lengthy tirade."

 

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1 hour ago, rafterbr said:

There is no problem with ground water if house has a proper base of 3 feet in the ground., Not sure how you would know this but if it is an older house just look for cracks around the doors and walls.  There is not a public sewer there so the houses have septic tanks.  It is best if it has a dark water and grey water tank.  Find out the construction of the tank.  If it is flimsy the ground water can force it out of the ground or cave it in.   This sounds like more problems than there actually is in Riberas.new sewer

There may not be a "problem " with your property,  when a neighbour lets his septic tank overflow into the street, his problem quickly becomes your problem 

Remember that many homeowners in Riberas when asked would they be willing to pay for connecting to a new sewer system said no

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Sewer systems are expensive.  The demographics in that area indicate that it could be a burden for the homeowners.

One thing those of us who have "enjoyed" septic tanks in our past will agree on is that they are a royal PITA.  I am thoroughly enjoying the fact that in my area, the sewer system works so well that we can flush, rather than collecting paper.

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1 hour ago, court0503 said:

Lakeside7:     Curious,  when  did this ‘asking /rejecting’ happen?   How& by whom was the asking done?

Time seems to fly by quickly and my best recall goes something like this....over the past 10 years there's  been 2 survey's undertaken and great anticipation that a sewer system will be installed. The last time ,approx 3/4 years ago the residents were asked by Chapla city hall  are you interested in being connected if the fee is...I think the figure worked out to be approx 3,000usd. 

You need to understand that the original owners of the lots/land in Riberas was owned by Mexican families  in Guadalajara. 

Sadly the results of  the connection fee  questionnaire indicated a significant number of home and lot owners not willing to pay the connection  fees.

Regardless of the outcome of the questionnaire I don't think city hall was able to obtain funding from State or Federal government 

Maybe  other's have a better recollection.....

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I have lived in this house for 2 years and 3 months (on San Mateo in Riberas). I have NEVER been contacted by city hall with respects to a municipal sewer system. I have also never smelled a septic problem and have never seen sewage running down the street.

I also spent some time on the Chapalamls.net registry looking at houses for sale in the entire area. There are 395 houses shown and I wouldn't have bought any of them... at any price. Houses with locations from Jocotepec to Vista del Lago to Chapala Haciendas and everything in between.

 

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18 hours ago, rafterbr said:

I have followed house prices in Ajijic for the last 6 years and in the last 2 years they have gone up 25 to 50 %.  You use to be able to buy a nice 2 bedroom house for $150 to 200,000.  Now it will be over $200,000 and the inventory has been depleted .  I have looked at houses all the way from Roca Azul to Chapala.  At the moment the best buys are in Chapala Haciendas but I think they have a crime problem.  In my opinion the best buys now are in Riberas Del Pilar.  You are close to Chapala and Ajijic and the area is starting to boom.  There are several good restaurants and medical attention in the area.

You "think" that there is a crime problem. Ummm...maybe you should look up your information rather than tossing out rumors? Or at least talking to someone who actually lives here? The inherent snobbery from others, especially in Ajijic, never ceases to amaze me (I know, I know). Yes, there have been problems in the past, but relying on old stories is getting, well, old. I like that I don't have to worry about my house getting hit by a mudslide or shifting because it was shoddily built. It's also nice to be able to look over the mountains and the lake without being jammed next to my neighbor. The location is convenient and the lack of congestion is wonderful. Each area has its pluses and minuses, so you really need to consider what you actually want, not just follow the herd.

Yes, we're on a septic system and it's NOT a pita to maintain if you use common sense. Would I prefer a city system? Possibly, but having had a septic system in Texas, I wasn't too shocked to find our home came with one, too. No biggie.

OK, rant over.

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What "inherent snobbery" re Ajijic? Does pointing out that an area does or does not have a municipal sewer system constitute "snobbery"??  😉 I think there's a little prejudice going on there.  Personally, I looked all over Lakeside ten years ago and bought in Ajijic only because it was a helluva good deal at the time. 

As for septic systems, I had one for years in rural California and it was a PITA, with or without "common sense".  YMMV.

I do agree that relying on rumors without further investigation might result in missing out on a nice place to live. I know people who live in Chapala Haciendas and they love it.

 

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4 minutes ago, rckrckr said:

Snobbery easily is matched by reverse snobbery in the Lakeside area. 

Snobbery is snobbery, regardless of how it's painted. You've made one of my points for me. There is a difference between stating that "I think there's a crime problem..." and stating preferences. As Al Berca pointed out, another area is now facing a bit of a crime problem Does that trash the place? No. It does confirm that crime seems to be cyclical here...first one fracc, then another, etc, etc. If you like living close to things, then Ajijic, Chapala, etc, would be good for you. Prefer things a bit more spaced out? Then the outlying fraccs would be a better choice. If you're a homebuyer, do your homework before purchasing. Just don't rely on "I heard that..." type of statements.

As for my second point, yes, it would be nice to have a city sewer system, but there are still many areas where it's not an option, but that doesn't rule the place out as a nice place to live. We've had 2 different types of systems in two different countries. Neither were a problem, but that was our experience. We upgraded the system here (larger absorption tank/dispersal field) and haven't had any problems in nearly 10 years. Yes, YMMV.

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The reality is that everyone has unique preferences and needs and wants. The house that one finds that is perfect for them is, simply, "perfect" when it ticks all the right boxes.

On the subject of septic systems... I now have experience with three in three different houses. None of them have ever been a problem. In a perfect world, all houses would have a septic tank that then fed the overflow into the municipal system. imho, that would be win/win.

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1 hour ago, Tingting said:

Snobbery is snobbery, regardless of how it's painted. You've made one of my points for me. There is a difference between stating that "I think there's a crime problem..." and stating preferences. As Al Berca pointed out, another area is now facing a bit of a crime problem Does that trash the place? No. It does confirm that crime seems to be cyclical here...first one fracc, then another, etc, etc. If you like living close to things, then Ajijic, Chapala, etc, would be good for you. Prefer things a bit more spaced out? Then the outlying fraccs would be a better choice. If you're a homebuyer, do your homework before purchasing. Just don't rely on "I heard that..." type of statements.

As for my second point, yes, it would be nice to have a city sewer system, but there are still many areas where it's not an option, but that doesn't rule the place out as a nice place to live. We've had 2 different types of systems in two different countries. Neither were a problem, but that was our experience. We upgraded the system here (larger absorption tank/dispersal field) and haven't had any problems in nearly 10 years. Yes, YMMV.

Tingting from what your saying, you seem to have a larger lot that gives you space for a good drain field 

For example, many/most lots in Riberas are 250/350 mt and would never past a "perk" test..as a matter interest did you get your lot "perk"tested??

Reference a"crime problem". Sadly there is no reliable records kept on "incidents". You have been here sufficiently long enough to know the system. Let me make a suggestion to you and others readers...when you are in a reasonanle size group/gathering,  maybe at church etc..ask the folks present to put up their hands if they have experience a "crime" lets say a robbery  ,break ins etc. I am willing to bet that 15/20% of that group will raise their hands!!!.

Maybe that is not a big number from your previous  living location. ..and by tne way did your previous home have a 10ft  wall, maybe iron bars on the windows, maybe a electric fence ,oh do not forget razor wire. Frankly many of the prison  stockades where I came from had less "safety " features

Lastly "every" fracc and other places have their experiences of "crime"...some do seem to experience  more, or perhaps that location comces on for more exposure..REMEMBER absence of evidence is not evidence absence 

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