A comment on real estate prices

Robert Jorge says on Jan 25, 2008, 22:20:

3.2 MILLION .... like usd million? Crap. Is there oil under the ground or gold in them thar hills?

Actually, and I haven't clicked on the link: Is that the price for the ranch "turn key?" For example: includes 500 head of cattle, a $700,000 combine tractor converted to harvest rice, etc? With all necessary equiptment, housing, workers, livestalk, etc, that might not be as crazy as it sounds.

--"I believe in making the world safe for our children. But not for our children's children, because I don't think that children should be having sex." - Jack Handy

billyb says on Jan 25, 2008, 22:27:

Yeah, but you can actually make good money on a 2000 acre ranch in Cordova, try doing that in the moonscape of the US SW.

Robert Jorge says on Jan 25, 2008, 22:28:

That is $1750 an acre or 3.5 million pesos per acre.

--"I believe in making the world safe for our children. But not for our children's children, because I don't think that children should be having sex." - Jack Handy

billyb says on Jan 25, 2008, 22:31:

Look at grass on those potreros though. How many cattle do you think you can run on there compared to some wasteland arid SW spread?

tomtom33 says on Jan 26, 2008, 02:53:

"I just don't get it."

lpdiver says on Jan 26, 2008, 03:38:

Remember, asking price and selling price are two differnt things.

t

"cook some rice!"

Lowell says on Jan 26, 2008, 06:36:

I've found that offering 1/2 the asking price is a good start.

Alfred E. Newman. "What. Me Worry?"

buggy says on Jan 26, 2008, 10:18:

Even with a house at COP 400,000,000? You begin at 200,000,000?
And you end where? At 300,000,000?

“Ojos y oídos para Norteamérica / para su propio pueblo, sordo y ciego" Pablo Neruda

nueva york bombero says on Jan 26, 2008, 13:27:

And what about condos? Pre-construction pricing is not very negotiable is it?

wendell13 says on Jan 26, 2008, 13:38:

That is a good question....anyone with answers.

Also I have seen in some advertisements the developers mention something about leasing. Does anyone know how this works?

Chelesupercono says on Jan 26, 2008, 15:18:

Pre Construction pricing is usually not very negotiable but you can sometimes get 3% off. Unless you are buying more than one unit. I have a unit for sale in Cartagena on the La Boquilla beach...will be finished in June

never go to bed with someone crazier then you are, you will do it and you will regret it.......

nueva york bombero says on Jan 26, 2008, 15:43:

That's what I thought.
No big breaks for cash?
What can I offer the management?
10% then negotiate to 5%?

billyb says on Jan 26, 2008, 20:46:

That's all good when you are talking about residential RE, but JS was comparing farmland prices and when comapring them, lacation matters less and productivity starts to take a greater importance. BTW, welcome back Rubi.

Ctg Bound says on Jan 27, 2008, 04:55:

john_stark, depends on what sort of finca it is, there are really two sorts, one is a proper farm, others are recreational, the latter is expensive in Colombia as anywhere in the world.

buggy says on Jan 27, 2008, 05:25:

It would be interesting if people with experiences in negotiating real estate prices in colombia could relate them here.

“Ojos y oídos para Norteamérica / para su propio pueblo, sordo y ciego" Pablo Neruda

Ctg Bound says on Jan 27, 2008, 05:54:

Chelesupercono, pre-construction discounts can depend on many things, some wil give discounts for single units, some won't.

Ctg Bound says on Jan 27, 2008, 05:55:

buggy, its no differant overall to anywhere else.

nueva york bombero says on Jan 27, 2008, 06:45:

Thanks for the help.......NOT!

Ctg Bound says on Jan 27, 2008, 08:26:

nueva york bombero,

No big breaks for cash....Its variable as anywhere.

What can I offer the management...Again variable but for one apt 8-10% is normal, the higher is more normal, give them 5 or so apts you can get it down to 7%.

ALL things though depend on your negotiating skill and how much the person/s need you business.

nueva york bombero says on Jan 27, 2008, 08:34:

10% discount for a property? Normal?
So, I start at 10% less (the offer) then negotiate to 7%?
I'll try it.......
I'll be happy with 5%!
We'll see what happens.......
Thanks!

MaFe says on Jan 27, 2008, 16:14:

3 million dollars? Uyyyyy
My parents are looking to purchase a finca near cali...they are looking to spend about $500,000 but 3 million....I would rather by something in the US for that amount...

"All human actions have one or more of these seven causes: chance, nature, compulsions, habit, reason, passion, desire. "-Aristotle

billyb says on Jan 28, 2008, 08:20:

MaFe, are they thinking finca as in a few acres and a pool, or a working ranch like this one is, with 2000 acres and 800 head of cattle? Two totally different things.

MaFe says on Jan 28, 2008, 16:11:

It still seems like a lot of money...but I am not a real estate agent...two huge differences..

"All human actions have one or more of these seven causes: chance, nature, compulsions, habit, reason, passion, desire. "-Aristotle

vicshere says on Jan 28, 2008, 17:26:

3.2 million $ in Cordoba.....I don't think so.....you pay one day the next day the paraocs show up and make you pay again.....not such a good deal

listo

Robert Jorge says on Jan 28, 2008, 21:34:

I am sure Vic is right. But say there was no risk of having to pay off paras and other Colombian dynamics - 3.2 million might be a good price. I did a little research, and that isn't a bad buy. There is a working 1100 acre farm in south Indiana for sale for 3.5 million. So, this ranch is almost double the size of an Indiana farm at a smaller price. 2000 acres is HUGE. I was on a finca outside of Acacias that was 800 hectacres, which I think is about 2000 acres. We rode for an hour on horses and didn't see the whole property.

--"I believe in making the world safe for our children. But not for our children's children, because I don't think that children should be having sex." - Jack Handy

tomtom33 says on Jan 29, 2008, 02:05:

And you don't grow many crops in Indiana in January.

Ctg Bound says on Jan 29, 2008, 10:26:

Robert Jorge, 2.47 acres to a hectare.

For referance, my friend has just sorted out a deal for a working farm a few hours North of Medellin, the size is 111.4 Hectares on flat land, the cost 900,000 pesos a hectare. The farm is alongside a main road which makes it slighly more expensive as it has easy access.

Mr. Hollywood says on Jan 29, 2008, 10:44:

My thought, too, GIB. I don't think an extortion payment would even be enough. You might just need to employ your own army.

Depressing, really, isn't it?

robi666 says on Jan 29, 2008, 13:34:

"You might just need to employ your own army.
Depressing, really, isn't it?"

So true, absurd, kind of funny and finally depressing, Mr.H

"I am a citizen of the most beautiful nation on earth. A nation whose laws are harsh yet simple, a nation that never cheats, which is immense and without borders, where life is lived in the present."