Comparable recent sales data availability...

danely18

Member
Feb 22, 2018
34
0
6
If possible, where can one find the comprehensive recent sales data for properties? Notice I wrote if possible. But somehere, maybe by province, or city, I don't know, but thinking there probably is a property registry where transactions are listed. My interests are Sosua, and northeast coastal towns, Las Terranas, etc.

Obviously the offer prices are everywhere, with the broker sites, signs, etc,., and what people will tell you....and somewhere beyond that is the truth if you can get to it.

Then, there are properties that just sit vacant and nobody seems to know much about and you'd have to dig in a registry to find the owner...I guess.

If anyone knows how to get to the root of this I'd really appreciate your input.

PS: I know about search buttons...
 

windeguy

Platinum
Jul 10, 2004
33,077
1,265
113
The short answer is no. Realtors have not come up with this yet in the DR.

The long answer is I have never seen a way you can come up with this on your own. Maybe someone has and is keeping it a secret.
 

lifeisgreat

On Vacation
May 7, 2016
1,973
345
83
There is no record of sales published, you could probably get your lawyer to do a search for specific property ,most property for sales go up on net and never get taken down. So you can’t gauge price by what you see on net... then you have to contend with
People who over paid pre recession prices who think they can get same price as they paid..best is get a good agent not fly by nite and get a feel for selling prices.
 

Timotero

Bronze
Feb 25, 2011
689
29
48
I’ve seen the same property listed at the same time on three different websites for three different prices.
 

ljmesg

New member
Aug 6, 2017
526
1
0
No licensing, no regulation, no data available. It's the Wild West.

If you want comps I would knock on doors and ask. Cover all the area around your target property you are trying to comp and start knocking on doors.

Tell them what you are doing, what you are comping, the listing price and potential strike price...people generally will help you out is my guess and are always interested to talk about their real estate value.

Good Luck!
 

william webster

Platinum
Jan 16, 2009
24,229
925
113
To follow that thought ....

In a condominium community, surely people know recent sales.
It may be not published, but it’s not unknown.
As ljamseg points out ... just dig for it...it’s there
 

CFA123

Silver
May 29, 2004
3,498
381
83
To follow that thought ....

In a condominium community, surely people know recent sales.
It may be not published, but it’s not unknown.
As ljamseg points out ... just dig for it...it’s there
The problem with that... is getting a neighbor to tell the truth when quoting recent sales prices may lower what they’d like to get one day for their own place.
 

Cdn_Gringo

Gold
Apr 29, 2014
7,547
422
83
No MLS system and certainly no public database logging property sales in this country.

Currently it is 100% a buyer's market. Those wishing to sell usually ask more than most are willing to pay these days. When an offer is made, sellers tend to counter too high or reject the offer outright. Most of these sellers then grow old waiting for the next offer.

A property is only worth what a seller can sell it for at the time they have an offer in their hands. For most, it is a slow and frustrating task to sell in this country especially if one is in sort of a hurry. Some sellers make out ok at the low and high end of the market. A condo in a gringo enclave may appeal to more foreign buyers than a stand alone villa. Properties priced at a million and more appeal to those buyers for whom a million or more is not a big deal. There is very few of these high flyers but at least they aren't pondering the effect of dumping their limited retirement nest egg into an investment property in this country.

OP, if you are a buyer, you're in control. Offer whatever you feel you'd like to pay. If one property doesn't pan out, there are 50 more down the street and around the corner. Back and forth price negotiations are not necessary and such circumstances are usually sellers trying to minimize their substantial losses and who fail to realize that if they pull too hard on the line, the only fish in many months will get away.
 

ljmesg

New member
Aug 6, 2017
526
1
0
The problem with that... is getting a neighbor to tell the truth when quoting recent sales prices may lower what they’d like to get one day for their own place.
Naaaa, people like to talk about their values. If they think they got a good buy they will tell you. If they are questioning what they paid they will share it and ask to see your results when complied first a back check.

It's the only way here to get any reliable information. It's a good way to do it in the US as well.
 

ljmesg

New member
Aug 6, 2017
526
1
0
No MLS system and certainly no public database logging property sales in this country.

Currently it is 100% a buyer's market. Those wishing to sell usually ask more than most are willing to pay these days. When an offer is made, sellers tend to counter too high or reject the offer outright. Most of these sellers then grow old waiting for the next offer.

A property is only worth what a seller can sell it for at the time they have an offer in their hands. For most, it is a slow and frustrating task to sell in this country especially if one is in sort of a hurry. Some sellers make out ok at the low and high end of the market. A condo in a gringo enclave may appeal to more foreign buyers than a stand alone villa. Properties priced at a million and more appeal to those buyers for whom a million or more is not a big deal. There is very few of these high flyers but at least they aren't pondering the effect of dumping their limited retirement nest egg into an investment property in this country.

OP, if you are a buyer, you're in control. Offer whatever you feel you'd like to pay. If one property doesn't pan out, there are 50 more down the street and around the corner. Back and forth price negotiations are not necessary and such circumstances are usually sellers trying to minimize their substantial losses and who fail to realize that if they pull too hard on the line, the only fish in many months will get away.
I agree with this and dont be afraid to lowball an offer. Depending on the property, the lowball offer is more than likely to be a correct offer as many properties have been available for literally years.

You just have to find the seller ready to "drop the rock" and actually sell.

Many just have a shingle hung out waiting for an expat sucker to walk in. Otherwise they have zero intention of actually selling.

You can figure this out pretty quickly in an eye to eye conversation with a seller or submitting your lowballish offer.
 

danely18

Member
Feb 22, 2018
34
0
6
No licensing, no regulation, no data available. It's the Wild West.

If you want comps I would knock on doors and ask. Cover all the area around your target property you are trying to comp and start knocking on doors.

Tell them what you are doing, what you are comping, the listing price and potential strike price...people generally will help you out is my guess and are always interested to talk about their real estate value.

Good Luck!
thank you
 

danely18

Member
Feb 22, 2018
34
0
6
All this leads to the question of why some think it is a buyer's market right now? When did the market become a buyer's market?
 

william webster

Platinum
Jan 16, 2009
24,229
925
113
All in the eye of the beholder....

My friend just finished building a house...
Within 2 months... she had a knock on the door.

A buyer....Will you sell your house ?

True story

That's one example of 'A buyer's Market'
Ask and ye shall find

haha
 

Cdn_Gringo

Gold
Apr 29, 2014
7,547
422
83
All this leads to the question of why some think it is a buyer's market right now? When did the market become a buyer's market?
In my limited sphere of observation, the number of available properties has far exceeded demand for a many years. Of the sellers that I know personally, it is taking a very long time to unload their upscale properties. A couple of years ago, a neighbor of mine, discounted his property by $100K because he and his wife were bailing on the DR and heading for Spain.

Someone else needed 3 years to meet a buyer willing to buy the property and the price had been lowered 4 times since going on the market. A friend of mine is currently selling in the $170K range and can't even get serious buyers to come have a look. He did receive an offer several months ago with a low cash down payment, the balance spread over three years and with an additional $20K lopped off the initial offer to purchase - seller declined. That was the only offer, the property is now vacant

Back when the stars aligned, there was a lot of interest by foreigners to purchase here. Lots did in the boom. The interest level has changed and now lots of these owners have property that cannot be sold for what it cost back then. Even if the property does eventually sell at a fair price, many sellers have waited several years for the right person to come along. After a while, the temptation to take whatever one can get increases if life involves moving somewhere else or someone gets sick/dies.

If a property is dependent on finding a foreign buyer, it could be a long tough road for the foreseeable future. With so many properties to choose from, with many sellers due to circumstance being very motivated to finally sell, the purchasers wield a lot of bargaining power - thus a buyers market. A bidding war is not usually an issue here.
 

william webster

Platinum
Jan 16, 2009
24,229
925
113
You would be unhappy the learn the selling success rate at the high end resorts these days....

Goes counter your comments
 

Cdn_Gringo

Gold
Apr 29, 2014
7,547
422
83
Properties constructed for the purpose of resort use as investments are not reflective of the actual real estate market. These investment properties all contain profit sharing agreements, no sale and exclusive use clauses. As such are irrelevant to the discussion of property sales between individuals.

You may sell your investment property at Lifestyles of example, after 20 years if you can find a buyer at that time and the resort passes on it's first to purchase option. I don't know how other resorts work.
 

windeguy

Platinum
Jul 10, 2004
33,077
1,265
113
In my region, houses are being built and sold regularly in Casa Linda, Sosua Ocean Village, Perla Marina and Cost Azul. Not huge numbers, but slow and steady. I have three new neighbors on my street alone over the past year with two resales and one new house. A builder has just asked for permission to build 9 new homes, which he builds and sells quite easily.
 

william webster

Platinum
Jan 16, 2009
24,229
925
113
Golf course homes..... beach property homes....

Not a typical resort model whereby there are 'come & go' rentals..........
Family type homes