Tell Ya This Much.....

jimmythegreek

Bronze
Dec 4, 2008
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After one month has passed just about advertising my apartment in SD on SuperCasas and not even one phone call or email. Only one potential buyer came bye with a real estate agent.

My impression now is that things are just not good here and there is little to no money.
 

cobraboy

Pro-Bono Demolition Hobbyist
Jul 24, 2004
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After one month has passed just about advertising my apartment in SD on SuperCasas and not even one phone call or email. Only one potential buyer came bye with a real estate agent.

My impression now is that things are just not good here and there is little to no money.
Another anecdote that proves: Real estate is easy to buy in the DR, but extremely difficult to sell...at any price.
 

bob saunders

Platinum
Jan 1, 2002
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Our contractor just sold his own house here in Jarabacoa (urubanizacion Mirador) for 12 million pesos. Took him about 6 months. Only advertizing was a sign on his wall. Like anywhere it's location and price.
 

JD Jones

Moderator:North Coast,Santo Domingo,SW Coast,Covid
Jan 7, 2016
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After one month has passed just about advertising my apartment in SD on SuperCasas and not even one phone call or email. Only one potential buyer came bye with a real estate agent.

My impression now is that things are just not good here and there is little to no money.

Or you're asking too much. Not saying you are, but it is a possibility.

On the other hand, all of the properties I've owned have taken between 4-5 years to sell.
 

cobraboy

Pro-Bono Demolition Hobbyist
Jul 24, 2004
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Or you're asking too much. Not saying you are, but it is a possibility.

On the other hand, all of the properties I've owned have taken between 4-5 years to sell.
I rent my house because the owner couldn't sell it.
 

jimmythegreek

Bronze
Dec 4, 2008
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Or you're asking too much. Not saying you are, but it is a possibility.

On the other hand, all of the properties I've owned have taken between 4-5 years to sell.

It's almost impossible here to get a feel for what is too much or too little in the price as there is no database that records the sale price of properties-most of the time it is merely through word of mouth what someone sold their property and/or a secret-LOL.
 

cobraboy

Pro-Bono Demolition Hobbyist
Jul 24, 2004
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It's almost impossible here to get a feel for what is too much or too little in the price as there is no database that records the sale price of properties-most of the time it is merely through word of mouth what someone sold their property and/or a secret-LOL.
That's why one must be patient, keep an eye on markets and never compare local prices of property to "back home."

But the real difference in prices is construction quality. Even some seemingly high-end homes are disasters in design and execution.
 

chico bill

Dogs Better than People
May 6, 2016
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So if you make a low offer is the realtor obliged to present it ? I tired to make an offer last year on a empty house, needing some work, that's been sitting for ~ 4 years with the owners now in Canada - the well known realtor wouldn't do it. And I was offering $30K US less than the asking (about 14% less than the asking price of $229K). So I might make an even lower offer this year - as it still sits empty. And it seems prices have softened a little more this year ?

I guess never be in a hurry if you are a seller or buyer
 

JD Jones

Moderator:North Coast,Santo Domingo,SW Coast,Covid
Jan 7, 2016
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It's almost impossible here to get a feel for what is too much or too little in the price as there is no database that records the sale price of properties-most of the time it is merely through word of mouth what someone sold their property and/or a secret-LOL.

I was telling the same thing to a realtor the other day.

I had spoken to her before about a listing that fell through, and told her at that time what I was looking for. She showed me a listing a few months later, and had no recollection we had spoke before. It was dumb luck on her part we ran into each other again.

I told her she should have a data base of customers with their needs that she can use to call them weekly to see if they're still looking and what she has new on the market. I got a blank stare. Went right over her head.

If she would develop or implement a program for realtors that keeps track of buyers and their requirements, offerings, realtors, who has what listing.. etc.. she could make a lot of money.
 

JD Jones

Moderator:North Coast,Santo Domingo,SW Coast,Covid
Jan 7, 2016
11,698
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So if you make a low offer is the realtor obliged to present it ? I tired to make an offer last year on a empty house, needing some work, that's been sitting for ~ 4 years with the owners now in Canada - the well known realtor wouldn't do it. And I was offering $30K US less than the asking (about 14% less than the asking price of $229K). So I might make an even lower offer this year - as it still sits empty. And it seems prices have softened a little more this year ?

I guess never be in a hurry if you are a seller or buyer

Happened to me. I ended up offering the full price that got me to the vendor, then started negotiating. The realtor was not happy. Screw them.
 

bob saunders

Platinum
Jan 1, 2002
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A lot of Dominicans have a weird concept. If they dont sell their house at its listed price they will then raise the price as if this makes the house more desireable.
 

chico bill

Dogs Better than People
May 6, 2016
12,573
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A lot of Dominicans have a weird concept. If they dont sell their house at its listed price they will then raise the price as if this makes the house more desireable.

Is that like every car for sale, list it high, then say un poco negociable ?
What is striking is that some people post prices on cars at 100K miles that reflect the price for a car that should have 45K miles. Sometimes you see adds for the same car with radically different prices - like fishing with several different poles in the water
 

bienamor

Kansas redneck an proud of it
Apr 23, 2004
5,050
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Mi tio en Nueva York vender la mismo casa Por $xxx,xxx,xxx.00. esta mi precio.
 

Russell

Well-known member
Jun 17, 2017
1,056
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So if you make a low offer is the realtor obliged to present it ? I tired to make an offer last year on a empty house, needing some work, that's been sitting for ~ 4 years with the owners now in Canada - the well known realtor wouldn't do it. And I was offering $30K US less than the asking (about 14% less than the asking price of $229K). So I might make an even lower offer this year - as it still sits empty. And it seems prices have softened a little more this year ?

I guess never be in a hurry if you are a seller or buyer

Four years ago I asked a Local Realtor to list my home.... I was asking 150K$usd.... he listed it for $250,000usd... said that if I listed it for 150 it would cause him problems for the other 'over inflated' listings he had.
In a couple of months, after extensive renovations I shall list the house once again for $150K usd ...probably in Dr1.... this will be then undervalued.
I understand the market and market mentality.
Nothing unusual!

Russell
 

Russell

Well-known member
Jun 17, 2017
1,056
337
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So if you make a low offer is the realtor obliged to present it ? I tired to make an offer last year on a empty house, needing some work, that's been sitting for ~ 4 years with the owners now in Canada - the well known realtor wouldn't do it. And I was offering $30K US less than the asking (about 14% less than the asking price of $229K). So I might make an even lower offer this year - as it still sits empty. And it seems prices have softened a little more this year ?

I guess never be in a hurry if you are a seller or buyer

All the Realtors in RD see is the commission on the initial asking price..... Negotiable '' is not in their vocabulary.
I had a Realtor visit my house last week ; but no follow up.!
They must be rich!
I have been asked from 4% to 12% commissions from Realtors.
WE bought a farm from relatives ... my RE AGend dropped me from the listings because we did not use him on the sale;;;; in fact he accused me of stealing food from his children because we did a private sale.
The farm was never listed... a private sale!! I don't get this one either! Must be my old age setting in.
I think that if we all list on Dr1 ; we will get better results...only my opinion.
Russell
 

cobraboy

Pro-Bono Demolition Hobbyist
Jul 24, 2004
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We have a veteran real estate agent in Jarabacoa who has a reputation of "charging too much", i.e. listing the property waaaay more than the actual potential value.
 

chico bill

Dogs Better than People
May 6, 2016
12,573
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We have a veteran real estate agent in Jarabacoa who has a reputation of "charging too much", i.e. listing the property waaaay more than the actual potential value.
If you can talk and deal with the owners maybe this wouldn't happen

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