BA real estate boom or bust

[davonz]

pericles : the top post on the forum has been "Impeccable Apartment Palermo For Sale ( Sinclair)" for a very long time (since 09-11-2009).. How many inquiries have you had for it and why hasn't it sold yet if things are going so well ?


Its been on the market for one month Davonz and tomorrow I will have a reserve from a local Argentinian. Is this a long time one month? In the USA many properties are listed for a year or more before they are sold.

 

[iStar]

Tell me Istar how can they go down if demand and sales are still high . And also where do people put their American Dollars ? They just wait to their value is diminished? A little bit of common sense is needed here.

Everything I've read and seen have indicated the complete opposite. And I am not alone.

Just because you keep repeating it doesn't make it true.

Since you have access to information, answer me this. How many homes sold in BA for the month of October?

 

[iStar]

Its been on the market for one month Davonz and tomorrow I will have a reserve from a local Argentinian. Is this a long time one month? In the USA many properties are listed for a year or more before they are sold.

Would it be that client from another post of yours who is willing to spend US$500K?

And in case you didn't notice we are talking about real-estate in Argentina not USA. Completely different market which you know nothing about.

 

[perry]

Davonz the apartment on Sinclair and De Maria has been on the market for less than one month and will be reserved tomorrow by a local.

Is one month a long time to sell an apartment? Seems like a lot of people are not being properly informed or are hoping that prices collapse as so they can buy on the cheap.

Im still waiting to hear about the US$ 72000 house in Capital Federal . In Palermo it is extremely rare to find a house for sale for less than US $ 200000 and in many other areas less than US 200000 for a house is impossible.

 

[perry]

Would it be that client from another post of yours who is willing to spend US$500K?

And in case you didn't notice we are talking about real-estate in Argentina not USA. Completely different market which you know nothing about.

I work in Argentina not the USA and this is my field and since you know so much about Real Estate answer below.

Istar can you answer the question about the US $ 72000 houses? Since you are the expert on real estate here I and all the members appreciate the response

 

[iStar]

I work in Argentina not the USA and this is my field and since you know so much about Real Estate answer below.

Istar can you answer the question about the US $ 72000 houses? Since you are the expert on real estate here I and all the members appreciate the response

So why did you even bring up real-estate in The USA in the first place? Which you know nothing about. I suggest you read your earlier post.

Show me where I said I was an expert in real-estate? I am giving you facts directly from the Colegio de Escribanos office.

You on the other hand are nothing but smoke and mirrors.

Still waiting for an answer.... How many homes sold in October, last month?

 

[perry]

Quoting a report without verifying the facts shows us who you are .

I am sure that most members here would like to know of the US $ 72000 houses you gleefully quoted as a fact. If this is the gospel truth that you say it is please show me just one listing at the ridiculuos price you quoted .

The difference between you and I is that I base my statistics by my sales and company records which has had the best October since its inception in 2007.

I could post many links like you have showing the opposite point that demand is increasing and that there is not enough good quality property to meet demand.

 

[iStar]

Can you read?

This is what I posted:

The value of the average home sold in July at 285,409 pesos (US $74,132). That’s pretty close to the average price of US $72,402 in 2000, when the peso was pegged 1-to-1 to the U.S. dollar.

Clearly it says $74,132 was the average price in USD for July... NOT $72,000!

And since you asked, I did a quick search... Here are some properties in the $74,000 USD range.

In fact one of the listings is yours!! Go figure, your link came in handy after-all!

http://www.remax.com.ar/PublicListingFull.aspx?lKey=b2d3186d-51ea-4651-8ca0-31ca003964ae&Index=11

http://www.remax.com.ar/PublicListingFull.aspx?lKey=d89e3514-4ce8-4ca6-ba3a-881a54e19228&Index=0

http://www.remax.com.ar/PublicListingFull.aspx?lKey=62f606e9-7bd4-46a1-8802-c741a151e495&Index=1

So I'm still waiting... how many properties sold in Buenos Aires last month?

 

[smirkypants]

Everybody knows there's been rampant speculation in Buenos Aires. An apartment in Recoleta costs as much as an apartment in Washington, DC. An apartment in Puerto Madero is WAY more expensive than an apartment in Miami. It's preposterous. By the way, you can hear a pin drop in Puerto Madero in the evening during the winter. I was having a frank conversation with a real estate agent over there and she told me that everyone was just PRAYING that the foreigners would come back. There are huge uninhabited buildings. When the tipping point hits, the floor will collapse.

And don't tell me Puerto Madero is unrelated to where you work, P. As soon as people sniff crisis, Katie bar the door!

 

[Hockey_Nut]

He is not talking about houses but properties, the word property mostly include 25 to 35m2 1 room appartments in BA.

Don´t compare apples to oranges!!!

Prices per m2 have been going down for an average of 15%-20% since the paro de campo(april 2008) and rental-prices a lot more(average atleast 30%) due to less demand(less foreign students, less students from interior, less tourists and stagnating salaries and a mild increase in unemployment) Many property-owners just go for the secure 2 year rent or atleast 6 month rent now