jmbone

joelg says on Aug 13, 2008, 07:17:

hey jmbone,
you seem to know something about medellin real estate. just wondering when you think the medellin real estate bubble might burst. i want to buy a house here, but i think the market will top out in less than a year. your thoughts?
joel

do what you like, take risks, build something

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jmbone says on Aug 24, 2008, 09:53:

Hola joelg,

Forecasting the economy is not my thing...sorry.

I live in Cartagena, have a nice apt. right on the beach.
I bought it about 5 yrs. ago for $19,900 furnished. Now the same floor plan in the same edif. is going for 85k and more. I did not buy it for a great investment. I understood that a similiar apt. is South Beach, Fl. would cost a mil plus, but I bought it because I liked it, and wanted to live there.....and I do!

I love MDE as much as CTG, and would also like to buy a nice small apt. in MDE, sharing my time at the best of both worlds. For me, and for now, the time is getting the cash.

One advantage of CTG over MDE is that CTG is known around the world....it's on the ocean...historic...safe....romantic....2.5 minutes from Miami, ETC. ETC.

I am a jr. partner with www.cartagenarealty.com ....check it out as it has some good buying TIPS that will also apply to MDE.

All of the CTG. projects that we promote....those that are still in construction (maybe 40 or so) are still activly in construction. I don't think this is true in MDE as some have stopped or delayed construction because the buyers mkt is soft.

Ck. out pre owned units and houses, where the seller has some real motivation to sell.....check out similiar and near by comparables....offer a low ball cash....the trick is not to piss them off.... and c what happens??

I think that when it is known by all that MDE is in a burst situation, it will be...IMHO, because the developers, the city, real estate cos., the "flippers", universities, and in general the population still thinks "small" about MDE. They do not look at the WORLD MARKET....they think small.....

You will notice my Portal (Google Page Rank of 5) brag...brag..does not mention a single word about the past problems ie. Pablo, etc. etc.

I love Medellin, Colombia, and the people.

Good luck. Enjoy MDE

jim

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