Vallarta: a Real Estate Buyer's Market...
 Marilyn Newman - PVNN
| | Looking to buy a home or condominium in the Banderas Bay area? Prudential Vallarta is Your Source for Puerto Vallarta Real Estate. | |
Those who know me, know that if asked my opinion, I'm going to give it; right, wrong or indifferent. Well, no one has asked my opinion, but I'm going to give it anyway.
In today's "buyer's market," if you want a good deal you have to be a visionary - see value before anyone else does. If you choose to sit and wait for someone to offer you a good deal on Puerto Vallarta real estate, you'll be sitting on the sidelines. If you want a good deal, you have to ask for it.
When we were in a "seller's market," we were getting "low-ball" offers all the time. Some were accepted, some were negotiated and some were summarily refused.
These days, when it comes to buying vacation or retirement properties in Mexico, a lot of people are sitting on the fence. "We want to wait and see what the market does," they say. Well, yes, the market is continuing to go down, but if you want to get the best deals, you have to step to the front of the pack and take the initiative. Don't wait for the market.
If Puerto Vallarta's real estate market continues to fall for a while, why does it make sense to make an offer on your dream property now? The best of distressed real estate deals may often happen relatively early in a downward cycle, simply because quality products at a good discount tend to sell first - even when the market is still declining. So if you continue to wait for a terrific price on a good property, you are likely to lose it.
Another point: many market rebounds have been "V-shaped," meaning once they hit the bottom, the rebound is steep and almost immediate. Real estate recoveries tend not to be as "V-shaped" as the stock market, but trying to "time" the real estate market here in the Banderas Bay area, or anywhere for that matter, can be a difficult game.
Do you think Warren Buffet waits for something to happen? No, he makes it happen. Bill Gates? Did he get where he is because he waited for the right time? No, he MADE it the right time. You need to do the same if you are going to win - and win big.
If you see the property you want, ask yourself, "If I were to buy this property, what price would it take to make me happy?" Then make your offer. The seller could say no, but if they say yes... Congratulations, you've won. Being a leader, not a follower, is the "buy-line" in today's market.
Marilyn Newman is a real estate consultant with Prudential California Realty-Vallarta Division. She can be reached in Puerto Vallarta at (322) 226-2690, Toll Free from the US and Canada at 1-888-778-3639, or by email at marilyn.newman(at)prurealtypv.com.
 About Prudential Vallarta: Whether you are looking to buy a home or condominium in the Banderas Bay area, or are simply considering a vacation rental, Prudential Vallarta is Your Source for Puerto Vallarta Real Estate. You can depend on our bilingual and bicultural sales professionals to help you through the process. If you would like to learn more about Prudential Vallarta's real estate or vacation rental properties, click HERE or visit PruRealtyPV.com. |
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Puerto Vallarta Real Estate | March 2009 
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