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my question is regarding the values of property. While it’s been said that Real Estate in the states have dropped substantially (I was told it lost 40%), it seems that C.R. property has held it’s own and not dropped more than 20%. Can anyone verify, or clarify? We need to price our Gated community development property at a reasonable price that will sell, not sit. We are located in the Central Valley in a rural area, with a Nature Reserve nearby, yet close to conveniences.
I look forward to hearing your perspectives.
JMHi Group,
From what I read, and not knowing the ins and outs of CR and not knowing whom to trust, I went about buying a little differently I guess. I went to my bank in the US with whom I had a long relationship, and leveraged a US rental property for the money to buy in CR. My bank in the US would never lend against a foreign property so they felt comfortable having local collateral. I realize that is not feasible for people not having that situation, but it is one way to do it. Bear in mind though, I still had to jump through incredible hoops transferring that money from the US to CR, they have cracked down on money laundering and you have to account for every dollar you submit to the escrow company.
Good luck to you.
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