US Economic Crisis effect on real estate

[logicwings]

the problem with real estate in the Dumaguete has little to do with the world crises...its the greed of local real estate speculators

[Arie]

Originally Posted by pecoskid45

I don't know of any seller here who is "jacking up the price". Most houses are being sold at fair market value. In my case, I won't make one single penny over what I have invested in my house. Maybe I paid too much, but at the time I bought it was the best value I could find for my money. I have
a friend who may double his monetary investment, but he has two years of sweat and hard work invested in his property. Surely he has a right to be compensated for that. If I were to say that it's mostly Filipinos who jack up the prices of property being sold, that would sound racist, so I won't say that. Any property is only worth as much as what someone is willing to pay for it. Right now, buyers have all the choices.

what is racist about that? I was advised by a Filipino business man who does a lot in real estate that if I wanted to buy land for my partner to use a middle man since the price would certainly be higher if a foreigner showed interest. It is the same all over the world, foreigners are expected to know less of the local market so will initialy be overpriced.

lets not beat around the bush it is a fact of live

[Arie]

Originally Posted by logicwings

the problem with real estate in the Dumaguete has little to do with the world crises...its the greed of local real estate speculators

they are all the same tbh

seems a bad time to me to buy any real estate, give it a couple of months to see how things go, I would not be surprised if some of these speculators will be desperate for cash pretty soon.

[cj04]

Originally Posted by pecoskid45

I don't know of any seller here who is "jacking up the price". Most houses are being sold at fair market value. In my case, I won't make one single penny over what I have invested in my house. Maybe I paid too much, but at the time I bought it was the best value I could find for my money. I have
a friend who may double his monetary investment, but he has two years of sweat and hard work invested in his property. Surely he has a right to be compensated for that. If I were to say that it's mostly Filipinos who jack up the prices of property being sold, that would sound racist, so I won't say that. Any property is only worth as much as what someone is willing to pay for it. Right now, buyers have all the choices.

am sorry but i know some.. i'm in business b4 i came here in the states that's why i know but i would not say anything morethan that.
thanks

[cj04]

Originally Posted by Arie

what is racist about that? I was advised by a Filipino business man who does a lot in real estate that if I wanted to buy land for my partner to use a middle man since the price would certainly be higher if a foreigner showed interest. It is the same all over the world, foreigners are expected to know less of the local market so will initialy be overpriced.

lets not beat around the bush it is a fact of live

Agreed! positive!

[cj04]

i am 99% filipino by culture and blood but i would not tolerate some of the filipinos mentality.... or i may say i don't tolerate any one (filipino or not). if you are wrong then you are wrong.

[Pedro]

Whether in Duma or in the states I belive that a house is for living in, not speculation. If speculation is the purpose of buying a house then I hope the house is bought only when the breaking point for the investor is reached and they had to sell it for a loss. They will still get a tax write off and if they were smart return to the real world and start making more prudent and socially responsible investments.

[cj04]

Originally Posted by Pedro

Whether in Duma or in the states I belive that a house is for living in, not speculation. If speculation is the purpose of buying a house then I hope the house is bought only when the breaking point for the investor is reached and they had to sell it for a loss. They will still get a tax write off and if they were smart return to the real world and start making more prudent and socially responsible investments.

.. a house is for living not for speculation but sometimes we can not avoid to speculate due to economic crisis, we can't avoid to discuss it. a matter of fact you are right.
perharps, you have any good idea where to buy a good property in dumaguete or valencia( somewhere near the town only not really near on Mt.talinis) i hope u r a native of duma that u know the areas i'm talking.. if u r not im sorry. thanks.

[Mam A]

Maybe some do jack up their price to allow for negotiation for a price moderate enough for both vendor and vendee. On the other hand, some lower their price just to sell quickly. I'd say IMHO that selling and buying can be double-bladed opportunities. AAR, holding back from the market for a temporary while might just be a good move. The behavior of the currencies is somewhat deceptive, if I may say so.

[Mam A]

I get blacklisted due to an honest comment then that too is the prerogative of the majors. I apologize if causing anyone worries from my previous post. It is true that some vendors are greedy but there are those who buy to help out someone in dire straits. Sellers in dire straits may on the one hand sell cheap due to urgency in the situation but there are those who sell moderately AND there are those who sell for more money, hopefully needed moneys . For example, someone sold my late grandpa a piece of land on a cliff and there was really no use for the land except to look at the natural vegetation there some of which were really unique. But the purpose that linked the selling and the buying was really the need of the seller for money for a sick family member. So there. BUT YES there are sellers who are greedy and the vendees who bite in a hurry are disadvantaged. So the best thing to do is research, study the sites, study the papers and stay in the forum because there are many helpful perspectives in here.