This real estate market is a joke!
So my dear husband decided that we should consider buying a property since we are paying about 160k in rent. Sure enough we went to look what the market has to offer. In the meantime I did lots of research and found only negative things about this market as in quality of homes, etc. But I thought that things might be better now such as laws etc and we should give it a try before judging. I also know some people that bought (long time ago though) that are happy despite certain flaws.
Every single agent that I met told me about every property we viewed that he had a "cash buyer" waiting. Each and every time. But that he wanted to give us the "first" choice. Then I was told by a construction engineer that the houses we looked at were built with salt water and concrete. This mixture causes the cracks etc and that we should be prepared to "fix" those things. Ok. Still I thought that this might not be the case for all of the properties.
The biggest lie we have come across is when we saw an ad for a distress villa sale. Apparently, the price that was offered is 200K below the market price. The agent kept saying that this property will go up in value within a week. When I asked why the landlord was distressed, he told me that he can't do his mortgage payments. So why selling it low when the value is apparently rapidly increasing and so many cash buyers are waiting? That confused me.
So after all, we finally decided not to buy and look for another place to rent before the summer. (we need to move out) We just could not deal with all the lies we were constantly told when trying to buy a villa. We saw a villa in the Ranches and the agent told us that he has so many tenants waiting to rent this villa. Turns out a friend of a friend lives across it and told me that the rent sign has been there for over 2 months!!!!
I don't know what is going on and where this inflation is coming from. But it seems to me that this country has no interest in selling to long term residents that want to make this country a home. If you are not a "cash buyer", you are already being treated bad. The moment agents hear "mortgage" they change their face expression.
We plan on staying here for a long time now due to DH's work. It is just a joke how delusional and irrational these people are when it comes to prices!
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