| Author | Comment | ||
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 poodlenprecious |
Real Estate Slow Down? |
Lead | |
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Posts: 50 (05/28/08 6:51 PM) |
It's been far too long since I've been back to PV (nearly a year
 ), so I'd like to see how the real estate market is going now.
Are properties/condos selling? How are rentals? Just curious is the trend here in California has trickled down to Paradise. Thanks! |
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kcowan2000 |
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Posts: 196 (05/29/08 6:36 AM) |
Real estate sales have slowed from their hectic pace in 2007. Listings are up. The big new developments are having trouble selling out. Tourism was up 7% in
1Q08. Rentals are still busy and quality places during prime time are already rented. There has been no reduction in rental prices. New construction projects
are starting to offer discounts.
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manfred |
rentals | ||
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Posts: 160 (05/29/08 8:12 AM) |
many rentals are cheap rigth NOW < but only for the low saison , for buyers this is a buyers market , LIKE in the USA
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onmyway |
not for long | ||
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Posts: 2 (06/15/08 9:55 AM) |
With over 55 million in u.s. and 9 million in Canada retiring in the next 15 years......the boom has just begun. A small cross section of them were
interviewed and asked whats important to them for retirement. 1. health care, 2. better climate and 3. to live next to water.
They will be coming! |
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kcowan2000 |
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Posts: 218 (06/16/08 6:24 AM) |
onmyway wrote:Maybe they should try for a bigger sample. Demand for properties in Florida and California have dropped dramatically. Sales in PV are off from 2007. And 2007 was 10% below 2006...La Cima Group are offering 25% discounts as sales incentives. |
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MarcosCVG |
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Posts: 254 (06/16/08 8:27 AM) |
Real Estate is a "local" market and I don't think you can transfer what happend in Cal and Fla to PV.
Demand is down in Fla and one reason is because people can't afford homeowners insurance. I've picked up a lot of Fla clients in the past several years who are moving back to the midwest because the insurance on their $300,000 home was over $10K - $15K per year, up from less than $4K per year 5 or 6 years ago. That's a big increase to swallow on a fixed income. Demand is also down because everyone is waiting for the real bottom of the Fla market. I don't know much about the Cal market but when 3 bedroom, 1400 square foot "war boxes" sell for $750,000, something is very wrong. I suspect that "new developments" in PV may have a hard time, but I'll also bet that "resale" condo sales are doing reasonably well, at least those properties that are "fairly" priced.
Two wrongs don't make a right ... but three lefts do!
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lovinlivininpv |
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Posts: 291 (06/16/08 8:48 AM) |
The real estate agent with whom I have dealt for years says that sales are drastically down...new developments, re-sales, condos, homes, lots, North Shore
South Shore, Bucerias, you name it. The whole enchilada. One tangential consequence is the fall-out among amateurs who came here, woke up one morning and said
"Hey, I think I´ll go sell real estate". It is "survival of the fittest" mode presently. Too many "agents", not enough
buyers....lean times for the dilettante.
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chico98 |
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Posts: 4700 (06/16/08 9:23 AM) standard |
anyone can be a agent
no license nor permit required they all want the eight percent commision good pay for a novice only hangup long time to make connection chico 
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onmyway |
short term | ||
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Posts: 3 (06/16/08 9:25 PM) |
I'm not in the real estate business and some Canadian cities are also experiencing a slow down. However, housing and condos will always be in demand.
I believe we are just going through an adjustment and of course the media is constantly looking for something negative to report! Imagine what the prices in
PV will be in 5 years. Supply and demand in paradise!
onmyway! 
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lovinlivininpv |
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Posts: 292 (06/17/08 6:39 AM) |
At the moment, "supply" far exceeds "demand" in paradise. Five years from now,,,Vamos a Ver.
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tahoe3 |
La Cima | ||
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Posts: 348 (06/17/08 11:16 AM) |
I wouldn't touch a La Cima property with a 50% discount.........Pure Junk!!!
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kcowan2000 |
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Posts: 220 (06/17/08 12:03 PM) |
tahoe3 wrote: We have friends that own in Horizon (3) and also in Paramount Bay (1). Your idea of junk is much different than mine. These are quality buildings. Just too modern and too many floors for me, and too far south. When they are all filled, Hwy 200 will be plugged. |
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