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#399200 - 02/01/11 06:56 PM Realestate offers
KSFunGO4IT Offline
Have checked out the real estate at the Cayes. A sea front lot is over doubled the listed price of the lot - 2 lots down, i.e. 160ft verses 0 away from the sea. The lot was listed for a long time. Based on that, I would assume that the seller is deliberately over price the lot, i.e. mark it up a lot and take a big discount if there is an offer.
My question is:
Is there a way to objectively evaluate the price of real estate in Belize?
In USA, there are web sites published average price in the neighborhood.
One way is to offer a very low price and see what the counter offer, I get back. I hope the seller would not mad at me.

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#399202 - 02/01/11 07:04 PM Re: Realestate offers [Re: KSFunGO4IT]
LaraTravelBelize Offline
the key is your realtor here in belize. if you are considering buying land in a foreign country, as i did 5 years ago, its IMPERATIVE that before you hit "send" on loads of cash, that you truly TRUST your realtor. They will give you the honest scoop...provided you go with an MLS listed realtor here in San Pedro.

Just because you recognize the name of the real estate company in the states, does not necessarily mean they are the most reputable here in the country. I used www.investinbelize.com when i purchased 5 years ago, and Tim and Tina continue to be trusted and dear friends to this day.

I've no doubt loads of others will also have opinions, but to answer your question - no, there is no place to compare average prices....not to my knowledge anyway...
_________________________
Lara
Romantic Travel Belize
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www.lemoncrushbelize.com

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#399214 - 02/01/11 08:49 PM Re: Realestate offers [Re: KSFunGO4IT]
JZB Offline
Beachfront land is always going to be substantially more expensive than second or third row lots. There is no public way for you to determine the price that surrounding properties have sold for but most reputable realtors keep track on the comp sales in order to assist buyers and justify listing prices.

I would recommend that you speak with a reputable realtor (like those at MLSAmbergrisCaye.com) who will assist you in determining the best strategy to purchase the property by using value based pricing.

Here is some helpful information about buying property on the island: http://www.ambergriscayebelizerealestate.com/buy.html

No I'm not a realtor, I only play one on the message board. wink

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#399253 - 02/02/11 12:58 AM Re: Realestate offers [Re: KSFunGO4IT]
SimonB Offline
"The lot was listed for a long time. Based on that, I would assume that the seller is deliberately over price the lot, i.e. mark it up a lot and take a big discount if there is an offer."

Not necessarily. Some people own land outright, set their price and are more than willing to wait for a buyer to come along and pay that price. They really don't care how long that takes and are quite content to wait until it happens.

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#399261 - 02/02/11 01:48 AM Re: Realestate offers [Re: SimonB]
Ernie B Offline
If they (owners) arent interested in selling, take it off the market. If someone IS interested, they will inquire. Dont be an idiot.
_________________________
Gun Control is Hitting Your Target.

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#399277 - 02/02/11 12:12 PM Re: Realestate offers [Re: KSFunGO4IT]
TravelinMan1 Offline
Just because the property has been on the market for sometime does not mean it was over priced (although it is likely). 2009 was not a great year for undeveloped land sales so if the property has been listed since then I would really not have expected it to sell unless it was a very desirable lot.

Most of us Realtors know each other and when a lot sells we have a real good idea of what it sold for and under what terms so it is always my recommendation to discuss it with a realtor.

The reason beachfront land is so much more expensive is that nobody can build anything in front of you. If you purchase a second row lot someone could build 4 storey building in front behind and beside you. Since there are no zoning laws you are taking a chance.

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#399279 - 02/02/11 01:46 PM Re: Realestate offers [Re: KSFunGO4IT]
ron Offline
On the north island of Caye Caulker many of the islands lots are for sale. Some are listed some not. People will often put a high price on the lot even if they aren't actively looking to sell. They will at a high price but look at it as money in the bank. If and when electricity comes, they assume that there will be a buying spree. Whether your looking in SP or CC a local realtor is your best bet to find a lot. If you live on CC you might get a better price if you find someone that really needs to sell to pay some bills. But you need to be there when it becomes available with cash in hand.

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#399280 - 02/02/11 02:08 PM Re: Realestate offers [Re: KSFunGO4IT]
Diane Campbell Offline
When we used to price out subdivisions we'd assume a second-row lot would go for 1/3 the price of the same size lot in the same area, on the sea.
If in your estimation the price of the above referenced second row lot is reasonable, and the beachfront is only twice as much, then the beachfront lot is probably an excellent deal.

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#399318 - 02/02/11 05:56 PM Re: Realestate offers [Re: KSFunGO4IT]
KSFunGO4IT Offline
Thank you for all the information.
I was in both AC and CC. Found that AC is more expensive than CC. Took a quick real estate tour of CC with CayeCaulkerForSale.com. Notice that there are a lot of properties for sale, from hotels to uncleared lot. Realized that there is not many transactions at CC. i.e. Many listing stays for a long time.
My plan is (Your insights are very much appreciated):
1) Come back with $ ready and buy a second or third row "lot". (If the price is right).
2) Immediately fence it with a chain link fence. (Don't know how fast can it go up?, i.e. Is there a company that do these kind of things?)
3) Plant a few coconut trees? (Would the local do that for me? I would pay them if price is reasonable).
4) Come back... for another time.
5) Buy a lumber package from the Mennonites.
6) Have it ship to CC.
7) Have a carpenter to put it up in 2 - 3 weeks. (Would that be wishful think?)
8) Come back another time. This time for good. Have plumbing, electrical, septic tank and water tank installed.
9) Retire... Volunteer at Ocean Academy... Do a bit of compost. May run a small business.
And live happily ever after....

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#399321 - 02/02/11 06:32 PM Re: Realestate offers [Re: KSFunGO4IT]
kathyw Offline
You forgot #10.
I'm sure everyone has an answer for this one.

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