Mexico Real Estate
Jul 18th, 2005, 07:35 AM
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Mexico Real Estate
I am on a quest for a home in Cuernavaca Mexico. This is a lovely place with probably the best year round weather in all of the world. It is the former residence of many wealthy and famous people. However, for the past 8 to 10 years the housing market has been in a slump. It is a real buyers market. Does anyone know why this wonderful place in on a fire sale????
Jul 18th, 2005, 11:37 AM
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I don't think Cuernavaca has been heaven on earth for some time now, many years. The influx of capitalinos from Mexico City on the weekend, and for holidays, has resulted in higher levels of air pollution and traffic . . . and that's turned some people off the place. The big influx to Cuernavaca probably came after the Mexico City earthquakes in the mid-1980's, and the city's not as popular any more. Mexicans with cash to spend on vacation and second homes are going elsewhere in the country. And, there's been a higher level of home burglaries in Cuernavaca, and there's a fear on the part of upper middle-class and wealthy Mexicans about kidnapping (for a while the state of Morelos led the nation in kidnappings - carried out by government police and their compadres). Got a good deal on RE in Cuernavaca, like the place? Then go for it. Me, I wouldn't move there. To each his own. Get the advise of a good local lawyer and a recommendation for a a good notario publico before moving forward with any purchase.
Jul 19th, 2005, 06:04 AM
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I am inclined to agree with gomex- I was just in Cuernavaca a couple of days ago for the first time in 10 years. Although we had a great time it has really changed. Lots more traffic, lots more sprawl, lots more American stores in a box, etc. I was really amazed at the changes for the worse. It sure wouldn't be my pick. From what folks told me, people are looking elsewhere e.g. the rural areas around Toluca are becoming popular.
Jul 19th, 2005, 06:33 AM
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Gomex and Dude: Thanks for your replies. I did more research after reading gomexico's commments. And yes...kidnapping was certainly the factor in people leaving Cuernavaca. I have been trying to find more current articles and stats on crime and such for the area. Seems like everything is several years old. I have been on a visit here and feel pretty darn safe. Of course,I should add tht I am a big city person and very use to urban life. Infact, I like it. I like the feeling of people around...street threatre...restaurants, etc. So the overcrowding aspect of the town doesn't bother me. I have met some people who are moving here and they seem to feel that the kidnapping has been blown out of proportion and they have the opinion that one should simply "use your head". But, then again, I would not want to get myself into a situation in owning something that is not saleable in the future due to perception of high crime.
Jul 21st, 2005, 10:30 AM
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If you think you'll like it, go. Just don't buy a place to live, until you've lived there a year or so. If it doesn't meet your expectations you clan always leave for another destination. Each of us has different likes/dislikes. Best of luck!
Jul 21st, 2005, 11:17 AM
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I really agree with both the idea if that is what you like, go for it. And the notion that you should live there an extended time before you buy. I have been contemplating a small place in Mexico for years. Originally I was thinking about Oaxaca City, now that it has changed significantly I am thinking about northern Mexico state. At any rate go with what you like.
