Thursday, June 12, 2008

Seen on Isla

Directly across the street from the statue of Ixchel that I showed you, sits this house.







It's one of the older homes downtown, although it is cement, not wood. I have seen the interior (from the street, walking by) and it looks very nice. Maybe needs some updating. It is for sale by the owner.

Last I heard, they were asking $850,000 USD for it. Ouch.

10 comments:

Steve Cotton said...

Hmm. It probably will not make my poll.

JoAnne in CT said...

That's one of my favorite homes in town... but for $850? No thanks!

Anonymous said...

Tell them to change the price to PESOS.... we can split the cost. They won't sell at US price.
KW from Michigan

Jackie said...

It would make a great B&B with some renovations and as you say updating. It would be interesting to know what the asking price was the last time it was purchased.
For example Cielito Lindo is for sale for about the same price. The current owner bought it in the late 80’s and paid around $80,000 for it. I have stayed there and can tell you it needs some work to make it worth anyone spending that kind of money on the place.

wayne said...

When I first heard the price, I thought it must be pesos and was ready to jump on it. I couldn't believe it when the realtor corrected me! Will they ever see that amount? Doubtful, but they will get a lot for it. Somebody will buy it. I hope they make it a B&B but more likely it will be torn down for a bigger hotel. (just what we need!)

Jackie: 80K for anything on the island in the late 80's was a huge sum of money. It has only been the last few years that has seen the massive increase in market values. I'm not complaining because my ocean front property is premium and has increased by more than 5x what I paid for it! A lot of people believe that Mundaca has filled people's heads with false values of their properties, thus raising the asking price for property all over the island. Don't know if it's true or not.

Michele in Playa said...

A property is only "worth" what someone will pay for it. It's lovely building in a great location but the market is not "there" ....yet. This property in downtown Playa would SELL for $1.3 mil. Developers can jam a lot of condos into that amount of space.

Islaholic Trixie said...

That is the property I would love to have. It does need some work though and if it sits empty too long will keep deteriorating.
I remember when the little dog hung out on the upstairs balcony all day.
Guess I can dream!!

wayne said...

Trixie: wouldn't we all like to have this property! It isn't empty though. A family is still living in it. I forgot to mention that there is off street parking with it!

Michelle: you are so right about being worth only what someone will pay. I am afraid of just what you say. This lovely property will go by the wayside if some developer thinks he can make a killing.

Daniel Justnes said...

When I called them they said 990 000 so they probably understand they are overcharging! :)

wayne said...

daniel: i wonder if they know they will never sell it either!