Is this a good time to buy a Condo?

[newnative]

32 minutes ago, Airalee said:

Yeah...but you’re comparing apples with oranges.  Or...more like apples and poop.  Have you seen the photos of his place on the listing?  He didn’t even take time to clean the room.  There is clutter on the tables.  Ok...I know...it’s Nirun, so that’s probably to be expected.

 

On another topic, I could tell a great story about an offer I put in on a condo last week.  Told the agent what my offer would be (X) and that no matter what, I wouldn’t go above (Y).  So agent thinks my original offer would be too low and I wouldn’t even get a counter offer.  Sooooo... if I come up a little on the initial offer...somewhere between “X” and “Y”, he could convince the seller to agree to “Y”.

 

I agree to let him proceed with the offer....and for what it’s worth...yes..it was a serious offer.

 

I get an email from the agent with a counteroffer and a copy of the email he sent the owner with my offer...which remember...was to be between X and Y.  The agent offered Y and came up with a counteroffer of “Z”.

 

Guess who’s not making a sale.
 

So...it’s not the right time to buy a condo when agents are so dishonest.

     I'm confused with the X, Y, and Z--and, specifically: 'The agent offered Y and came up with a counteroffer of "Z".  I don't understand that sentence.  Did the agent properly relay your offer to the buyer with the correct amount you specified as your offer?  Did the seller then make a counter offer of 'Z', which the agent then relayed to you?  If so, then I don't see how he was dishonest.  He may have genuinely thought that the seller would accept your offer--the seller may have indicated such at one point but later decided he wanted more.  Who knows.  Sellers can be fickle.  I'm not sure I would classify the agent as dishonest; maybe just overly optimistic.  In any case, no harm, no foul.  

[newnative]

1 hour ago, topt said:

 

Have you ever attended a condo/village AGM here? Why do you assume that the Thai owners will be diametrically opposed to what the foreign owners would want or vice versa? Most owners want whats best for them as long as it does not inconvenience them too much.

In those terms for overall voting the 51/49 split IMHO is a complete red herring.

 

 

Thank you--and so true. 

[Airalee]

18 minutes ago, newnative said:

     I'm confused with the X, Y, and Z--and, specifically: 'The agent offered Y and came up with a counteroffer of "Z".  I don't understand that sentence.  Did the agent properly relay your offer to the buyer with the correct amount you specified as your offer?  Did the seller then make a counter offer of 'Z', which the agent then relayed to you?  If so, then I don't see how he was dishonest.  He may have genuinely thought that the seller would accept your offer--the seller may have indicated such at one point but later decided he wanted more.  Who knows.  Sellers can be fickle.  I'm not sure I would classify the agent as dishonest; maybe just overly optimistic.  In any case, no harm, no foul.  

The agent offered an amount above my offer.

[newnative]

2 minutes ago, Airalee said:

The agent offered an amount above my offer.

   If so, that was dishonest.  Change agents.  Or deal directly with a seller.  

[jacko45k]

6 hours ago, Airalee said:

The agent offered an amount above my offer.

It sounded rather complicated, perhaps was something lost in the language barrier?

Anyhow, your tale makes me think it best to make a simple one number offer without any other details. 

[Leaver]

19 hours ago, how241 said:

If I don't sell it I will just rent it again.  My condos are almost always rented. My first condo has the same Thai man living there for about 10 years now.  His rent money made it a free condo for me. For the first 7 years I lived here I never had any condos empty for more than 3 weeks.  It's a good return and I let my  Thai girlfriend handle almost everything.  I keep all the properties in her name.  Sure now you can start with all the bad Thai girl talk...haha...Maybe after 11 years she will run away...It happens but I am not worried. 

I am commenting on the housing market in general, not your specific circumstances. 

 

You bought in over 10 years ago.  Would you say to an investor in 2020 that the Pattaya property market is a good investment?

 

Edited March 11, 2020 by Leaver

[how241]

27 minutes ago, Leaver said:

I am commenting on the housing market in general, not your specific circumstances. 

 

You bought in over 10 years ago.  Would you say to an investor in 2020 that the Pattaya property market is a good investment?

 

Yes, it is a good time to buy.  It is a buyers market now so I would recommend shooting 'low-ball' offers at places your interested in. Start VERY low as you can always raise up your offer.  

[Leaver]

5 minutes ago, how241 said:

Yes, it is a good time to buy.  It is a buyers market now so I would recommend shooting 'low-ball' offers at places your interested in. Start VERY low as you can always raise up your offer.  

Can you tell me why you think it's a good time to buy? 

[Airalee]

4 minutes ago, Leaver said:

Can you tell me why you think it's a good time to buy? 

Because he is selling. ???? 

[scubascuba3]

It's a good time to rent the next year or two at least

[how241]

22 hours ago, Leaver said:

Can you tell me why you think it's a good time to buy? 

I think my explanation and post was clear.  It's a buyers market and it a good time to buy  IF  you were planning ion buying anyway.  Make low offers and raise them up slowly.  You might get a great deal.

[how241]

21 hours ago, scubascuba3 said:

It's a good time to rent the next year or two at least

For many, renting is always the best way to go.

[how241]

22 hours ago, Airalee said:

Because he is selling. ???? 

Speaking of selling,  I have another Nirun condo that I could sell.  This is a Corner unit and has a extra side window.  being it is on the 5th floor and buy a large open area you get a tremendous amount of wind/breezes.  Many of the renters that have stayed there never use the air cond.  Several because of low electric usage have not paid any electric bill for months.  Asking 720K  with a 50-50 split of transfer fees.   Before all of the photo analyst experts tear apart the photos,  these were taken a while ago. I never bother my renters so I haven't taken any new photos.  There is a customer who has been there for several years but has agreed to move into another condo I have if I find a buyer. 

[Susco]

10 minutes ago, how241 said:

Before all of the photo analyst experts tear apart the photos,  these were taken a while ago. I never bother my renters so I haven't taken any new photos. 

You mean it could look worse now?

 

Naah, don't think that's possible

[Lacessit]

Given what's happened on world sharemarkets in the last week, I'd say this thread is now obsolete. Sit on as much cash and gold as you can.

[bkk6060]

26 minutes ago, how241 said:

I have another Nirun condo that I could sell.

Thanks for sharing.

People who would bad mouth it have no imagination.

Get rid of most of the furnishings, paint it, and I bet it would be fine.

I personally do not like Nurin, but I am sure it could work for many people.

The location is good.

Good luck in finding a buyer.

[Destiny1990]

6 minutes ago, bkk6060 said:

Thanks for sharing.

People who would bad mouth it have no imagination.

Get rid of most of the furnishings, paint it, and I bet it would be fine.

I personally do not like Nurin, but I am sure it could work for many people.

The location is good.

Good luck in finding a buyer.

Give some details Such as floor level so then we auction it here.

In the blind i will offer 150 k...

[bkk6060]

1 hour ago, Destiny1990 said:

Give some details Such as floor level so then we auction it here.

In the blind i will offer 150 k...

Why don't you ask the person who is selling it?

Which if you pay attention, is not me.

[Destiny1990]

39 minutes ago, bkk6060 said:

Why don't you ask the person who is selling it?

Which if you pay attention, is not me.

Yes ok well anyways he knows now my offer and if he accepts it then i will rent it out to u because you would perfectly blend in with these Nirun residents.

[Leaver]

3 hours ago, how241 said:

I think my explanation and post was clear.  It's a buyers market and it a good time to buy  IF  you were planning ion buying anyway.  Make low offers and raise them up slowly.  You might get a great deal.

Can you tell me why there are so many willing sellers, or distressed sellers? 

 

If so many want out, that doesn't always mean it's a good time to buy in. 

[how241]

7 hours ago, Leaver said:

Can you tell me why there are so many willing sellers, or distressed sellers? 

 

If so many want out, that doesn't always mean it's a good time to buy in. 

There are always people selling.  Of course,  for every sold condo there was a buyer. Thousands of different reasons.

[how241]

9 hours ago, bkk6060 said:

Thanks for sharing.

People who would bad mouth it have no imagination.

Get rid of most of the furnishings, paint it, and I bet it would be fine.

I personally do not like Nurin, but I am sure it could work for many people.

The location is good.

Good luck in finding a buyer.

It's all about low price and very centralized location. Of course, if you want to spend more you will get bigger and nicer.

[gk10002000]

No it is not time to buy unless you like to accept risk.  While prices may be attractive, think of the long term.  If economy falters, condo owners sell or abandon.  Maintenance and common area upkeep go the way of the dodo.  Local city infrastructure, water, and what not also get neglected.  Never mind all the retirement changes, visa changes, laws that may come into play out of the blue, etc.

[JimmyTheMook]

Buy Tesla Stock - just wait a bit and you'll be able to buy 2 condos.

[shdmn]

15 minutes ago, JimmyTheMook said:

Buy Tesla Stock - just wait a bit and you'll be able to buy 2 condos.

????

[jacko45k]

13 hours ago, how241 said:

Before all of the photo analyst experts tear apart the photos,

Guilty as charged previously. Why are all the electrical outlets in these condos half way up the walls, ie 3 ft+ off the floor? It just seems to create unsightly wires strewed across the walls. Mine are all about 1ft off the ground. 

[fhickson]

18 hours ago, bkk6060 said:

Thanks for sharing.

People who would bad mouth it have no imagination.

Get rid of most of the furnishings, paint it, and I bet it would be fine.

I personally do not like Nurin, but I am sure it could work for many people.

The location is good.

Good luck in finding a buyer.

thats what i thought when i lived there. i had a new refurb unit and just pretended i lived in a nicer building in a better part of town.

 

its easy to do with some practice, but your not going to impress any ladies on the way in.

[how241]

10 hours ago, jacko45k said:

Guilty as charged previously. Why are all the electrical outlets in these condos half way up the walls, ie 3 ft+ off the floor? It just seems to create unsightly wires strewed across the walls. Mine are all about 1ft off the ground. 

Agree about the electrical outlets. Also there are only a few.  I guess it was a cheaper to only install afew when these condos were built.  I am guessing that the reason they are half way up the wall is that the outlets are together with the light switch.  Again, fast and easy to install when the condos were built.  I think thee new farang style condos don't do this.

[how241]

4 hours ago, fhickson said:

its easy to do with some practice, but your not going to impress any ladies on the way in.

This is true but many of the ladies I have brought back to the condo were not the type that you would  worry about impressing.  Give them a 300 baht tip  and you will see how quickly they are impressed with you and contacting you everyday to see if you want to see them again. This is Pattaya. Although the hallways are not impressive I have seen many fix up the inside quite nicely. 

[Leaver]

14 hours ago, how241 said:

There are always people selling.  Of course,  for every sold condo there was a buyer. Thousands of different reasons.

Have you seen how many properties are on the market here?  There are thousands, not just "always people selling."

 

Wouldm't part of due diligence be to investigate, why so many are for sale, and why time on market is so long?