I got tired of looking at lots on the beach side of the highway in Melaque with prices of $40k and up and always listed in US dollars. The Realtors here are out of control and hopefully the current economy will put a plug in them. That's the main reason we bought our lots in Pinal Villa.
So Ron was down for a few weeks and a waiter we've known for a long time said he knew a place for about $450,000 pesos. After a few meetings with the owners the price went down to $370,000 which is about $28k US. Now this place is very Mexican but well built and has water, sewer, electric, walls around, lot size 10x20 and two rooms that with just a little work would be livable (maybe no work says Ron). I'm sure with $10k he could make this place very nice and another $10-15 could put on a second story. Ron should be down from Vallarta in about a week to finalize.
So Ron was down for a few weeks and a waiter we've known for a long time said he knew a place for about $450,000 pesos. After a few meetings with the owners the price went down to $370,000 which is about $28k US. Now this place is very Mexican but well built and has water, sewer, electric, walls around, lot size 10x20 and two rooms that with just a little work would be livable (maybe no work says Ron). I'm sure with $10k he could make this place very nice and another $10-15 could put on a second story. Ron should be down from Vallarta in about a week to finalize.
This place is still available. Ron's wife didn't like it so they bought a couple of lots on the east side as of (3/15/2010)
3 comments:
Scott -- I have been shocked at the listed prices of houses in Melaque. I am set for my first 6 months, but I am seriously looking for something more permanent. As of today, only one realtor, out of the 10 I have talked with, has been helpful. I just assumed they must all be raking in the dough that they did not have time to talk about a sale. I guess I will continue doing what you have done -- talk to locals, ignore the salesmen.
Exactly Steve .... rent and look around anywhere in Mexico is the answer. Ron really just wants a crash pad for when he comes down fishing so with a little work on this house he should be set.
Two totally different markets between the locals and the realtors. Remember that 80% of the area is still ejido. Normalized property will jump the price significantly
I would be very nervous about buying Ejido property - possession is 9/10ths of the law - except in Mexico ;-0
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