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#324918 - 02/23/09 12:03 AM Ambergris real estate price trends
revealrealestate Offline
Any sense of real estate prices in past few months on Ambergris Caye? Are developers reducing prices? Are there different types of product (simpler, cheaper perhaps?) being released?

#324927 - 02/23/09 12:24 AM Re: Ambergris real estate price trends [Re: revealrealestate]
Renee-md Offline
Not at Captain Morgans' LOL!

#324934 - 02/23/09 01:10 AM Re: Ambergris real estate price trends [Re: Renee-md]
Moose In Belize Offline
Some are down and some have stayed the same. It's a buyer's market. Hopefully some RE agents will post comments.
Moose Keep an open mind and something good may fall in.

#324951 - 02/23/09 03:13 AM Re: Ambergris real estate price trends [Re: Moose In Belize]
GILLY Offline
i would be interested in advice regarding an inexpensive lot.
looking for a place i can retire in 10 years. little nervious about undeveloped developments going belly up in this market

#324956 - 02/23/09 04:21 AM Re: Ambergris real estate price trends [Re: GILLY]
Pedro1 Offline
what do you think is inexpensive?

#325087 - 02/24/09 01:28 PM Re: Ambergris real estate price trends [Re: Pedro1]
TravelinMan1 Offline
I figured I would give you all a little insight as to the current condition of the market here on Ambergris Caye

We have seen a little slow down in regards to purchasing but it has not really affected the pricing all that much. There are always a few real good deals out there as some sellers must sell but overall we are seeing good market stability.

I am always happy to help anyone who needs further information so please feel free to PM me if you are looking for specific information.

#325099 - 02/24/09 03:08 PM Re: Ambergris real estate price trends [Re: TravelinMan1]
Peter Jones Offline
You're referring of course to asking prices. What about the prices that properties are actually selling at, and the number of deals compared with say two years ago?

#325106 - 02/24/09 04:10 PM Re: Ambergris real estate price trends [Re: Peter Jones]
Amanda Syme Offline
To answer the original question - real estate prices that were listed at "market value" have maintained their stability.

Property that was priced above market value - either due to greed, hope or lure is continuing to be advertised, but isn't moving. So property that is priced above market value but offering low down, low interest terms might move this year.

Generally it is a buyers market and cash is king.

The few properties that we have sold recently the sellers stuck to their asking prices, since the prices were reasonable to start with, and the buyers paid up because they knew they were getting a fair deal.

Most offers have been made at 10% below asking price, some of these offers have been accepted, some rejected. All in all the prices are pretty stable, and sales are slow but are happening.

I would predict that the volume of sales will pick up again around this time next year.

I see a lot of local private sales working out well in the lower priced properties. I checked with the DFC office and they had no defaults to report over the past few months - I hope this remains true.

#325126 - 02/24/09 06:35 PM Re: Ambergris real estate price trends [Re: Amanda Syme]
Moose In Belize Offline
Thanks for the informative and candid answer Amanda. I guess the tough question is how to determine "market value" in this unusual economy. I assume it is based on recent sales of comparable properties, if any exist. I would also suggest that it's a moving target, and drifting downward. Excluding pre-development properties, are you able to say what comparable properties are selling for this year versus the same time last year, or even 6 months ago, on a percentage increase or decrease basis? Do you have any monthly sales volume numbers for January 09 vs January 08?

Edited by Moose in Belize (02/24/09 06:35 PM)
Moose Keep an open mind and something good may fall in.


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