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When do we buy?

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This topic contains 4 replies, has 4 voices, and was last updated by  Nguyễn 4 months, 4 weeks ago.

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  • #6005

    Andrewfroboy
    Participant

    I remember a few years ago saying jokingly to my Brazilian wife that when the dollar gets to R$4 we’ll buy a house, which was my way of saying I have no desire to buy one. Now with the dollar at R$4 and getting stronger anyone thinking of buying? I think at R$4.25 I will give it serious consideration.

  • #6007

    Anonymous

    I’ve been thinking about buying another property but I am so greedy that, in addition to watching the Real sinking like the Titanic, I am also waiting for the real estate market to implode. Imagine this – getting a house for half of its original price and paying with half of the previously required dollars.

    A nice little apartment in the Higienopolis bairro of SP that sold for R$1 million would now sell for R$500K and I would buy it with USD$125K. Not too bad.

    I think that the only faulty part of my plan is believing that the pigheaded Brazilians will ever cut their prices on real estate. They would prefer to sit on a property for 20 years rather than cut their price.

  • #6036

    Tony
    Participant

    there is not a clear cut law of agency in Brazil as you see back in the States.
    In So Paulo , particularly , there is virtually no exclusive listings.
    So a broker’s duty to represent a seller is virtually non existent.

    Higienopolis gets a little murkier. Most properties there are owned by Jews. And these folks gave enough money to fend off advances.

    That and the fact they all know fully well the results of erosion of local currency’s buying power makes any attempt to haggle to a buyers price , futile.

    Yet, a well trained broker is an inquisitive one. Insider information on a seller’ motives can lead to all information you need as to where negotiations will lead anywhere.

    Besides, not all negotiations start out fair.

    Again, again and again, use a broker

  • #311094

    Tony
    Participant

    Time is now. Virtually no new inventory coming through the marketplace, as money has become more expensive for developers.

    Folks who wait on the side lines waiting on the Dollar or looking for REO type of inventory are going to be sorely disapointed.

    After three years of hold backs and two years on inventory firesale, prices are due to increase accross the board as demand is on the rebound ( read the new guidelines on low interest
    lending, they have increase the caps on the principal lent ).

    And then there are areas you simply can’t build, even if you had the money to put the project together. Lack of land or available CEPACs will
    quash any hopes of new inventory in certain areas ( Pinheiros, Jardins, Vila Nova Conceição, Moema ).

    The only areas that you are going to find anything affordable these days are areas being developed where once they were factory floors, by river basins, and the East Side of town, where the Height CAP ( CEPAC ) is non existing. Still even there you need to get land to build, available funding.

    So if you have anything stashed under your mattress, or sitting on low returns, now it is the time.

  • #311403

    Nguyễn
    Participant

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