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Old 10-26-2007, 05:12 PM
 
Location: NW Charlotte, NC
239 posts, read 815,411 times
Reputation: 182

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Quote:
Originally Posted by tee-tee View Post
Fully expected her to follow up with a link to a site that walks you through how to make zillions from the comfort of your own bathroom!

Have you actually been to the "west coast" of Puerto Rico? Not exactly the prettiest part of the island, esp compared to areas on the south coast or the east, like around Fajardo.

I used to live there- it actually is one of the most beautiful areas. I suppose that beauty is relative, though! I find it so humble, the ocean is calmer, the pace is slower... I adore the west! I have some beautiful pictures in one of the threads here.

Also, to comment on the original post-

We purchased a small lot of land about 6 or so years ago with intentions to build for $18,000. We just sold it less than a year ago for $35,000. The reason we decided to sell was the fact that building materials and labor costs are rising quite a bit, and we figured that if we havent built inthe past 7 years, we probably wont any time soon...! This was in a small town called Moca, which is about 20 minutes from beaches, but it isnt a beach town.

I wouldnt consider it booming, no, but like a lot of other places, long-term property values are going up.
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Old 01-12-2008, 02:45 PM
 
582 posts, read 1,855,140 times
Reputation: 264
i've been to the west coast and there is not a more beautiful area of the island.low crime,very laid back,very good people,nice beaches and the coldest beer."vestida de novia"dressed like the bride.this means the beer is white because of all the ice around it.
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Old 01-20-2008, 01:17 PM
 
1,729 posts, read 4,521,315 times
Reputation: 850
Quote:
Originally Posted by Dd714 View Post
yeah I laughed when I read the first post. Puerto Rico booming? Maybe compared to Haiti. Run from whoever you are talking to, don't walk away, run! There are safer real estate investments, like swampland in Florida.
THAT PART OF PUERTO RICO IS pristine, and as yet, barely untouched since it was used by the military for many, many years until they were pushed out by the people. NYC's real estate magnate, TRUMP, I heard is planning to put luxury hotels there.
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Old 01-21-2008, 12:37 PM
 
Location: Wesley Chapel
134 posts, read 475,359 times
Reputation: 108
follow the US real estate crash and based on what I've been told, PR is on its way down too! Be careful, Be smart.
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Old 01-23-2008, 10:23 AM
 
Location: NYC
364 posts, read 1,821,782 times
Reputation: 173
It is an Island, and if you own property anywhere near the cost; yes, you will build equity fairly fast but not as fast the it was mentioned in the first post.

I should mention that maintenance is a big issue because of the salt from the Ocean. Expect to pay big money over the year to keep your property in good shape. The salt or "salitre" as locals call it there, eats through everything, especially metal. But it also beats hard on paint and wood.
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Old 01-24-2008, 07:04 AM
 
59 posts, read 344,183 times
Reputation: 55
Quote:
Originally Posted by EdJones View Post
It is an Island, and if you own property anywhere near the cost; yes, you will build equity fairly fast but not as fast the it was mentioned in the first post.
I will be the first to admit that I am no expert on PR real estate. However, I don't believe you can count on "building equity fairly fast" even near the coast. Take Hawaii for instance, it is considered Paradise by FAR FAR more people than PR. There are tons of people with plenty of money from not only the U.S. but also Asia who have been buying real estate there for decades. And despite all of that, Hawaii still goes through up-and-down real estate cycles just like anywhere else. There have been loads of people who bought near the top and ended up losing their shirt when the cycle turned down. So, if there are down cycles in Hawaii then I can't imagine that you can count on always being able to build equity fairly fast in Puerto Rico.
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Old 03-22-2010, 07:30 PM
 
1 posts, read 1,867 times
Reputation: 10
Thinking about moving to pr from the states to help my parents out. Any comments
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Old 03-31-2010, 05:49 AM
 
Location: Rincon Puerto Rico
5 posts, read 49,735 times
Reputation: 14
I live in Rincon if there is a good time to buy, now would be the time. Hundreds of houses, condos and properties for sale, and nothing is moving. In 2006 most land off the beach was asking $200 a s/m and up. Now I've seen properties asking $50 s/m and up. Beach properties have dropped, and their range is from $350 s/m up to $1500 a s/m. This is a buyers market now. I wouldn't suggest buying for investment, but if you're looking for a different place to live, definitely check out Rincon. Don't take my word for it, Google "Rincon PR beach houses/homes/ land" and you can find many websites listing properties for sale.
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