La Serena area real estate

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briloop
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La Serena area real estate

Post by briloop » Sat Sep 22, 2007 2:50 pm

I came across this post:

http://www.expatexchange.com/expat/inde ... id=3327998

Selected quotes:

"At least two American expatriots and a friend who is a native Chilean living in Santiago have discouraged me from trying to purchase land in Bahia Inglesa citing their general distrust of northern Chilenos in general.."

"We stayed a few days in Vicuna, a night in Copiopo and finally got to Bahia Inglesa. The town, more accurately a village of about 100 people year round, is a jewel. The real estate market is not friendly to Americans."

"I felt the prices were far too high to be realistic."

"I finally stopped the search in Bahia Inglesa and had the consultant look in the Los Villos - La Sererna area. Depending on just how loe brow you're willing to go, you may find something in that area. La Serena is a very US friendly city but the proptery there is very expensive."

"I finally gave up on Chile. The real estate market just isn't hospitable/ friendly to Americans."

"The Chileans are great folks but once they discover they are dealing with an American, the price doubles or triples."

__________________________________________

Comments?

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helibel
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Post by helibel » Sat Sep 22, 2007 4:47 pm

Gee! I'd jump at oceanfront for $25K. This guy is nuts if he thinks he is getting Oceanfront or view land anywhere, for $5000, he is the one who isn't realistic. I get folks looking here, all the time who have 20 year old news on property prices, and I think that is what happened to this gentle men traveling with a Chilean expat neighbor from "the poorest place I have ever visited or imagined." telling him about Chile and what to expect pricewise.

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helibel
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Post by helibel » Sat Sep 22, 2007 5:22 pm

and furthermore, on rereading that post who would consider "Driving" for 4 days instead of 'flying" from Santiago to Antofogasta to be the only alternative and therefore a drawback. I like to drive sometimes but if Antofogasta was where I wanted to be I would just consider flying to whereever I wanted my second home. There is certainly no great savings in driving and spending four nights on the road and eating at restaurants. This person doesn't make sense!

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Chuck J 3.0
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Post by Chuck J 3.0 » Sat Sep 22, 2007 7:39 pm

I didnt read the whole thread just the first post. I can't tell from his post if he ever even visited the area?

It's good to know what his friends say but it's obviously more important to see the area firsthand. Better to go there for a few weeks and scout the real estate situation in person, talk to the locals. Might find a great deal that way, a local may know someone who wants to sell and it may not be listed etc.

From what little I've seen of it I like the La Serena area. The house prices there seem pretty low to me.

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admin
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Post by admin » Mon Sep 24, 2007 1:09 am

Bahia Inglesa is a very tight real estate market in Chile. In fact, it is one of the few in Chile we would say that is a genuine seller's market.

Add an inexperienced buyer to the mix, and I could see that market turning someone off very quickly. Just generalizing to all of Chile is a bit of leap.

I am on the road right now and don't have a lot of internet time, but will get back with a whole lot more to say about this.

Salud from Santa Cruz wine country. :lol:

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Post by admin » Mon Sep 24, 2007 1:12 am

by the way, someone call tombrad2 our resident northern Chilean expert to help kick this subject around. I think he will have a better feel for the issue. :idea: :idea: :idea: :idea: :idea: :idea: :idea: :idea: :idea: :idea: :idea: :idea: :idea: :idea: :idea: :idea: :idea: :idea: :idea: :idea: :idea: :idea:

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tombrad2
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Post by tombrad2 » Mon Sep 24, 2007 2:15 am

I tried to reply as follow, but something happened and I dont see the post:

3 to 5K for a lot in Bahia Inglesa? arg, US dollar is not as strong as it used to be, nothing good at this price in Chile I guess, not a good property anywhere in Chile at this price.

I am not sure how you understand to be "US friendly" Chile is not a cheap country anyway and as everywere in the world owners try to obtain as much as possible from their properties, It is called Law of Demand and Supply.

People may be friendly in social interaction, but talking about money I think that is not "unfriendly" to try to earn as much money than they can, if a lot is overpriced the owner will be unable to sell, if he can sell then the price is correct: Demand and Supply.

I think is not an anti US feeling but, if you are entering to a market who you don´t know well, it is not fair to claim for overpricing, if someone is overpricing you simply dont buy.

My advise to purchase a property in Chile, take your time and investigate a lot by yourself, otherwise you will pay for the learning curve, and this is not nortinos fault, It is yours.

Bottom line, Chile is not a cheap country compared with others in Latin America, US dollar is losing value every day, howeven, in my opinion, still has a good cost/benefit ratio as a safe, serious and not corrupt.

Saludos de un nortino (de Arica)!
Arica in a nutshell (updated) at :
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briloop
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Post by briloop » Mon Sep 24, 2007 7:59 pm

Where is Bahia Inglesa? I can't find it on Google Earth nor encarta.msn.com.

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tombrad2
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Post by tombrad2 » Mon Sep 24, 2007 8:07 pm

It is near Caldera, in the coast of Copiapo. Nice waters for scuba!
Arica in a nutshell (updated) at :
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briloop
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Post by briloop » Mon Sep 24, 2007 8:12 pm

Thanks. I found it. I guess you beat me to it.

It is about 80 km (50 mi) northwest of Copiapo, a city of 129,000 people (as of 2002 census). Caldera has 14,000 people, per Wikipedia.

With all due respect to anyone who lives there, Bahia Inglesa is basically in the middle of nowhere. It is in between Antofagasta and La Serena, making it (in my mind) a very isolated place to live. It must be a paradise for it to be one of the hottest real estate markets in Chile.

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Post by admin » Tue Sep 25, 2007 2:26 pm

At least two American expatriots and a friend who is a native Chilean living in Santiago have discouraged me from trying to purchase land in Bahia Inglesa citing their general distrust of northern Chilenos in general! Please let me know if you can shed any light on this.
We stayed a few days in Vicuna, a night in Copiopo and finally got to Bahia Inglesa. The town, more accurately a village of about 100 people year round, is a jewel. The real estate market is not friendly to Americans. I hired a consultant afeter I returned and paid them $275 to check out real estate, through a Chilean lawyer, in Bahia Inglesa. Only four properties were offered for sale the past year year. I felt the prices were far too high to be realistic. One property is covered with large ( seveal ton) boulders and the one I really wanted was priced at around $30K USD.

I just had a closer look at that post, and realized that we were the ones he hired to do the search in Bahia Inglesa . Because of this I can not comment specifically on the details of client's case, but I am fully free to comment on anything he published that is untrue.

1. This is not the whole story and we did not in any way tell him or any one else that Northern Chileans are not trustworthy.

2. We did find many more properties than he even contracted us to find. There are more than 4 properties for sale in the area, he simply was not interested in looking at any other price range, and properties are very expensive in that area.

3. There are a lot more properties for sale in the area, but you need money.


Bahia Iglesa is a very very expensive place. If you think you are going to buy beach front property for a few thousand dollars anywhere in Chile, you are in the wrong country. In that area expect to spend about 50 million pesos to even be in the game.

Finally, there are some very good reasons for why costa rica is so cheap.

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Re: La Serena area real estate

Post by RWS » Tue Sep 25, 2007 5:02 pm

briloop wrote:I came across this post: . . . . "The Chileans are great folks but once they discover they are dealing with an American, the price doubles or triples." . . . .
We all know, of course, that the price of (it seems) all Chilean land has risen so high over the past twenty or so years that all seems very expensive. But have other posters found that prices are bumped up for foreigners, or that property owners are more giving in negotiations with fellow Chileans? Is it sensible to ask Chilean friends or relatives to arrange the purchase instead of attempting it oneself?

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