Will Dominican real estate crash soon? Buy Now or wait?

[chic]

i looked at a property up the hills in sosua...vacant 4-5 yrs ago. not the best design but a big house owners gave it to the watchyguy....guess what he managed to sell it within 6-8 months couldnt sell it for that many years...but he sold it as is for 129K$us...or more......ha ha ha
when i looked they wanted 279$us as is...

 

[chic]

I believe its a time to buy buy buy,,, of course when you buy as a tiger u are not buying what u want where etc... only buying as to price....
I just picked up something that was a shock....bottom fishing... of course now the fun(headaches) begin...repairs/contractors/ expenses/ all sorts of crap...
i also believe it is the time to invest...build for the future....

 

[chic]

if you want to buy and have the $ now is good time....but....take every advantage you can use a buyers broker with a heart of cash...use all the dom tricks against the sellers... they are selling and can smell the sale...every ten Kus $ you save at closing is almost a year of expenses at(in the future) almost....
some properties are being traded at less or close to half...
of course the dom mentality is to hold...wait....sit...you will leave and we will be here sitting on the property waiting for the price to go up... lol...
you buy somethin its yours marry it and hope she does well for you...i buy ...of course now i have no wife ez er...

 

[Timotero]

I think the collapse of the Russian Ruble will also negatively affect the DR real estate market.

 

[VJS]

Not to mention the relative collapse of CAD, EUR and GBP in the last year. Dominican Peso may well be one of most stable currencies around, I wonder how long they can keep it from a meltdown against the US dollar...

 

[Combo]

I think a crime free Cuba is a fantasy. Unless all the bad ones are the only ones who invaded Miami!

I don't know about "fantasy," but it's misleading to say Cuba is "crime free." Attacks against tourists are indeed rare in Cuba. The government badly needs tourist money so violence against tourists is not tolerated. There's no due process. If a Cubano is caught attacking a tourist, he's screwed. However, there is plenty of violent crime of the Cuban vs Cuban variety.

 

[Africaida]

I don't know about "fantasy," but it's misleading to say Cuba is "crime free." Attacks against tourists are indeed rare in Cuba. The government badly needs tourist money so violence against tourists is not tolerated. And there's no due process. If a Cubano is caught attacking a tourist, he's screwed. However, there is plenty of violent crime of the Cuban vs Cuban variety.

Isn't that what matters for the tourism industry in the end ? Look at Mexico, people are still flying to Cancun.

 

[PeterInBrat]

"a matter of time" will be something like 20 or 30 years, if not longer.

 

[franco1111]

Did Trainman and Harleysrock sell yet?

 

[zoomzx11]

The solution is sooooo obvious. Raise the price of you house.

 

[PeterInBrat]

There is the story of the guy selling coconuts on the side of the road.

Some guy asks, "How much are they?"
"1000 pesos.. "
"1000 pesos? That's crazy! How can you ever make any money?
"This way I only need to sell one a day.."

And that is how some ppl sell their lots..

 

[sosuamatt]

Just reading through this thread again. Was chic doing redbull shooters yesterday?

 

[the gorgon]

Just reading through this thread again. Was chic doing redbull shooters yesterday?

can you put those in a bong?

 

[Marcion]

Not to mention the relative collapse of CAD, EUR and GBP in the last year. Dominican Peso may well be one of most stable currencies around, I wonder how long they can keep it from a meltdown against the US dollar...

Luckily, it's not tied to the dollar. Unlike the ECD.

 

[chic]

I don't know about "fantasy," but it's misleading to say Cuba is "crime free." Attacks against tourists are indeed rare in Cuba. The government badly needs tourist money so violence against tourists is not tolerated. There's no due process. If a Cubano is caught attacking a tourist, he's screwed. However, there is plenty of violent crime of the Cuban vs Cuban variety.

what about passion crimes? murder?? assault?

 

[malko]

Thriving in my campo....... SIL bought a small piece of land along side the road last year........ to have a cacao nursery.......paid a misery for it.
Well she sold last month for multiple times the price she bought it...... and to a foreigner ( well she said gringo, but.....).
Hope he is not a dr1 er :ermm:

A couple of months ago another american also bought land along the same road....... becoming quite a cosmopolite campo :nervous:

 

[texan]

I would consider buying on the north coast but would want to find the deal where someone has given up hope and selling at a major discount. The price would have to reflect the current crime situation. I would be curious to see a property on sale for 6 years. That sounds like once you really want to sell the price will be lowered to find a buyer.

 

[FOURFAN]

no desire to go to Cuba at all.

 

[CaptnGlenn]

I've been a real estate broker/real estate investor my whole adult life. I've alway heard that real estate is about location, location, location. I say it is about price, price, price. If you have been trying to sell your property for 6 years...you are asking too much. If you were asking $1,000 for your house...it would probably sell in about 10 minutes. Somewhere between $1,000 and what you are currently asking, is the price that it will sell for. What you paid for it does not matter, it's what somebody is willing to pay you that counts. I and in Cabarete right now to attend my 14th closing tomorrow in the past dozen years. I practice what I preach.

I agree fully... but the thing that is meant about "location location location"... is that is WHAT DETERMINES the "price price price"... and he (correct) price determines the "sale sale sale"...

 

[chic]

cash cash and time determination and the willingness to hold out wait the f_______ out....buyers dont come along all the time... sh++...use a buyers broker...give them 20% of your savings...ha ha ha...