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I wonder how Covid19 will affect house prices. Especially in places like the Raquet Club where the second well collapsed.

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It is affecting the RE markets NOB so why wouldn't we expect it to do the same here?  I suspect we are in for another cycle of slow sales and more houses being rented while their owners wait for better market conditions.

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2 hours ago, cedros said:

I wonder how Covid19 will affect house prices. Especially in places like the Raquet Club where the second well collapsed.

I do not think you would add it as a special feature , there are 2 wells much like we have 2 lungs...do you think people list having barking dogs all day will help sell their property..or latent termites!!! Every let me repeat every property in Lakeside has warts, seen and unseen

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A real estate broker told me that several of his potential buyers sent him letters saying that their retirement funds some of which were in the stock market have lost so much that they no longer feel they can afford to buy a home down here. Apparently some have actually walked away from their deposits on their future homes because they had lost so much of their remaining funds. 

So, yes things have slowed way down here lakeside

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3 hours ago, lakeside7 said:

I do not think you would add it as a special feature , there are 2 wells much like we have 2 lungs...do you think people list having barking dogs all day will help sell their property..or latent termites!!! Every let me repeat every property in Lakeside has warts, seen and unseen

Not at all like 2 lungs. This could lead to a water shortage.

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I think it will not be that long before this entire area is confronted with a water shortage.  Between the development and the berry farms there is no way the aquifer here is going to be able to support the rate of pumping.  Apparently wells are going down all over this area.  Amazing we have this problem in a place that gets 25 plus inches of rain per year but we do.

 

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So now is the time to build a water filtration plant and use lake water before the wells run out. Totally agree with Mainecoons.

Duh (sorry but I feel that the solution is so obvious)

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1 hour ago, Mainecoons said:

I think it will not be that long before this entire area is confronted with a water shortage.  Between the development and the berry farms there is no way the aquifer here is going to be able to support the rate of pumping.  Apparently wells are going down all over this area.  Amazing we have this problem in a place that gets 25 plus inches of rain per year but we do.

 

I think you are right. We may have to do what they do in the Caribbean-funnel the roof rain water into large cisterns.

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1 hour ago, Mainecoons said:

I think it will not be that long before this entire area is confronted with a water shortage.  Between the development and the berry farms there is no way the aquifer here is going to be able to support the rate of pumping.  Apparently wells are going down all over this area.  Amazing we have this problem in a place that gets 25 plus inches of rain per year but we do.

 

Where is the aquifer here? I thought it was just a series of groundwater wells. Chapala Haciendas has started a new well because the old one was damaged, but still operating. The water people could easily increase the potable water output of the Lakewater filtering plant, but how to get it from there to here (it is near Ocotlan). They also seem to like to build reservoirs for these plants, probably something to do with water pressure where would that go?

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3 minutes ago, cedros said:

I think you are right. We may have to do what they do in the Caribbean-funnel the roof rain water into large cisterns.

I actually saw this system on a very large house up the mountain side west of Ajijic. They had one of those indoor/outdoor pools with an indoor waterfall. Being a pastor can be lucrative apparently.

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I don't pretend to know Water Law in Mexico but one probably doesn't just 'build a filter plant and suck water out of Lake Chapala'. 

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31 minutes ago, RickS said:

I don't pretend to know Water Law in Mexico but one probably doesn't just 'build a filter plant and suck water out of Lake Chapala'. 

Yes part of the solution will be a political one.  It would have almost no impact on the lake for example all of the bitching over Guads canal from the lake is four inches a year. 

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1 hour ago, cedros said:

Not at all like 2 lungs. This could lead to a water shortage.

Cedros not to get personal but some times you sound like a man who has dropped in from Mar's

Let me ask to are you part of the water shortage problem...do you have a "low water maintenance garden" cacti and volcanic rock or regular grass and lots of flowers and tress etc???

Do you ever look across to Joco and the South side of the lake and see those 100's/1000's of acres of Berry farms...is the Strawberry and Raspberry a luxury of a necessity food that is consuming mill of liters of water

Do you wonder where those huge Coke trucks are getting of their water from, I suspect quite a lot from Lake Chapala and that product only exacerbates the endemic diabetes problem in Mexico

With very few exceptions, and maybe someone can tell me ...... no home gets 24 hour water supply. Many/most Lakeside wells are in a critical situation, pumping sand and mud many hours of  their operation

Mexico Period  has a critical water problem which needs addressing on a National level not State by State , or City by City. Yes I know many of the regulations that are in place are ignored

What Pete has said about potential homes buyers backing away is the real world Cedros. For my self I have told my agent to make a contract offering the selling agent an additional 2,000 usd as an incentive to get lookers to look at my house...and a completed contract....do you have an other suggestions what I can do ...

To think that we may be going down the path of the last house crisis is something I am not looking forward to..I have enjoyed the best of times and the worst of times in Mexico.... and boy would I now like to get out on a high note

 

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4 hours ago, lakeside7 said:

Cedros not to get personal but some times you sound like a man who has dropped in from Mar's

Let me ask to are you part of the water shortage problem...do you have a "low water maintenance garden" cacti and volcanic rock or regular grass and lots of flowers and tress etc???

Do you ever look across to Joco and the South side of the lake and see those 100's/1000's of acres of Berry farms...is the Strawberry and Raspberry a luxury of a necessity food that is consuming mill of liters of water

Do you wonder where those huge Coke trucks are getting of their water from, I suspect quite a lot from Lake Chapala and that product only exacerbates the endemic diabetes problem in Mexico

With very few exceptions, and maybe someone can tell me ...... no home gets 24 hour water supply. Many/most Lakeside wells are in a critical situation, pumping sand and mud many hours of  their operation

Mexico Period  has a critical water problem which needs addressing on a National level not State by State , or City by City. Yes I know many of the regulations that are in place are ignored

What Pete has said about potential homes buyers backing away is the real world Cedros. For my self I have told my agent to make a contract offering the selling agent an additional 2,000 usd as an incentive to get lookers to look at my house...and a completed contract....do you have an other suggestions what I can do ...

To think that we may be going down the path of the last house crisis is something I am not looking forward to..I have enjoyed the best of times and the worst of times in Mexico.... and boy would I now like to get out on a high note

 

What have you got against Mars? I am definitely not part of the water shortage problem but part of the solution I hope. I hope you don't take up tea readings.

There are a number of places Lakeside that get water 24/7.

I know a guy Lakeside who collects water from his roofs into aljibes.  One aljibe holds about 50,000 liters the other about 60,000. And it is water that is low in dissolved minerals. A definite property asset.

What else can you do-be patient and make your property water self sufficient.

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Big bonuses to the RE agents for a contract that goes to settlement is an excellent idea.  There are always some homes selling in a down market.  This tactic gets your home shown first and pushed hardest.  Make it fat, an additional 2 percent to the listing agent and 2 percent to the selling agent, 8 percent if they are one in the same.  You will get traffic if your pricing is realistic.

 

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Just curious - what percentage of the sale price for a home is common as a 'professional' real estate commission Lakeside?  Thanks.

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14 hours ago, utilitus said:

Just curious - what percentage of the sale price for a home is common as a 'professional' real estate commission Lakeside?  Thanks.

About 6% but it is negotiable when listing and it can be affected by other factors at closing

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30 minutes ago, utilitus said:

Just curious - what percentage of the sale price for a home is common as a 'professional' real estate commission Lakeside?  Thanks.

 

9 minutes ago, cedros said:

About 6%

10 percent is normal other places.

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16 minutes ago, AlanMexicali said:

 

10 percent is normal other places.

Alan do I understand you correctly that the 10% is "normal" for other parts of Mexico , Like Guad, Mx City, SLP , SMA...you amaze me. Given that Mexicans are "very difficult" real estate clients to deal with and will always bitch with any commission and prefer to deal directly with the seller..or I am wrong

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29 minutes ago, lakeside7 said:

Alan do I understand you correctly that the 10% is "normal" for other parts of Mexico , Like Guad, Mx City, SLP , SMA...you amaze me. Given that Mexicans are "very difficult" real estate clients to deal with and will always bitch with any commission and prefer to deal directly with the seller..or I am wrong

Google says 4 to 7 percent plus 16 percent IVA depending on factors such as location and price and market conditions.

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17 hours ago, cedros said:

I wonder how Covid19 will affect house prices. Especially in places like the Raquet Club where the second well collapsed.

Well, think of it this way. People come down here planning to buy a house with the money they intend to get from selling their house up north. Or, if they intend to keep it, they plan to use a home equity loan or money from their investments. If house prices plummet up north, along with the stock market, etc., what exactly are they going to use to buy their Mexican dream home? I think buyers will be soon be disappearing like spit on a hot griddle, if it hasn't happened already. People who really want to sell their houses here will drop their prices. Those that don't better pack a lunch. They're in for a long wait. This is exactly the scenario that occurred down here back in 2008-2009.

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13 hours ago, AlanMexicali said:

 

10 percent is normal other places.

Maybe for raw land.  Never seen this for developed property.  Where?

 

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We have been looking at lakeside property for some time, and now what I would really like to understand is how the private hospitals are handling the Chinese Virus situation. I'm sure housing prices will plummet, but realistically, what retired person can live in an area without proven medical care? Will the private hospitals be able to handle their paid clientele or will they just operate like IMMS hospitals? Incredibly, we closed on our house in Texas last Thursday and the border is closed! Never thought I would need a coyote to get into Mexico! We are all assuming that the US economy will recover, but even if it does, it could take years for Real Estate prices to recover. Those poor souls depending on their 401K investments are watching their savings dwindle daily. A world recession is in the making. I sold my business recently and had to hold two notes. I doubt I will ever get paid. Small businesses are really hurting. I will say this, if there is a complete monetary collapse, I would rather be Lakeside, where food is produced, then in Dallas TX where everything is trucked in. 

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Food is produced Lakeside.. Where? Berry farms some crops of corn and chayotes and beans and what else? Most of our food comes directly from the abasto.. A lot of the food produced around Lakeside like in Sayula is exported to the US

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This is a serious situation. I would like to remind you that the widespread deaths of local seniors will definitely affect local real estate markets.

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