Mexico Real Estate

Old Jul 18th, 2005, 08:35 AM
  #1  
Original Poster
 
Join Date: Mar 2005
Posts: 25
Likes: 0
Received 0 Likes on 0 Posts
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????
andgil is offline  
Old Jul 18th, 2005, 12:37 PM
  #2  
 
Join Date: May 2005
Posts: 92
Likes: 0
Received 0 Likes on 0 Posts
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.
gomexico is offline  
Old Jul 19th, 2005, 07:04 AM
  #3  
 
Join Date: Jan 2003
Posts: 909
Likes: 0
Received 0 Likes on 0 Posts
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.
Dude is offline  
Old Jul 19th, 2005, 07:33 AM
  #4  
Original Poster
 
Join Date: Mar 2005
Posts: 25
Likes: 0
Received 0 Likes on 0 Posts
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.
andgil is offline  
Old Jul 21st, 2005, 11:30 AM
  #5  
 
Join Date: May 2005
Posts: 92
Likes: 0
Received 0 Likes on 0 Posts
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!
gomexico is offline  
Old Jul 21st, 2005, 12:17 PM
  #6  
 
Join Date: Jan 2003
Posts: 909
Likes: 0
Received 0 Likes on 0 Posts
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.
Dude is offline  
Old Jul 27th, 2005, 12:50 PM
  #7  
 
Join Date: Mar 2004
Posts: 5,869
Likes: 0
Received 0 Likes on 0 Posts
I would interject a comment re: well chosen residential real estate: I bought a nice townhouse in the Centro in SMdA in July '03 for $210K. and sold it Sat for $335K.
M
mikemo is offline  
Related Topics
Thread
Original Poster
Forum
Replies
Last Post
SkylarMA
Mexico & Central America
9
Nov 21st, 2008 07:23 AM
luke7777
Mexico & Central America
15
Feb 24th, 2007 11:30 AM
epi
Mexico & Central America
9
Aug 30th, 2004 03:00 PM
juliekay
Mexico & Central America
6
May 5th, 2004 08:42 AM
philips
Mexico & Central America
6
Sep 28th, 2003 09:54 AM

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are On


Thread Tools
Search this Thread

Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Do Not Sell My Personal Information


All times are GMT -8. The time now is 04:18 PM.