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Ecuador real estate and its eternal sun suddenly becomes more attractive this time of year! The Blue Ridge is great until it turns into the White Ridge. Here I was, there with my hound dog Ma, until a week ago

 

Right now I am on Oregon ’s coast. The dawn was pretty great.

 

Then the clouds rolled in.

 

Grey pelting rain… a glorious storm but…in Ecuador it would be…

 

I’m heading south and am buying land on the beach in Ecuador which leads me to a question that a reader just sent.

“Hi Gary , I am a member of the Ecuador travel and living service. I recently read this comment.Although Ecuador ’s economy has recovered from the debacle early in the decade, cash is still king here and gives you significant bargaining power. We’ve seen several shoppers submit offers of half the original asking price and end up paying 60% or 70% of the original. Statistically, the difference between asking and selling prices is running about 20% for houses in 2007. For new condos, where more comparative data are available to both buyer and seller, negotiation room runs from 5% to 10%.’ Is this statement really accurate? Can you make cash offers on Ecuadorian real estate and purchase property at these steep discounts from the asking price? Thanks,”

My reply is something anyone interested in Ecuador real estate should know.

Cash is king in any buyer’s market.

The property market in Ecuador is pretty much a cash market. Financing especially for non residents is the exception not the rule. We have been in a negotiating position where another buyer was offering a used car and cattle as a down payment. We offered cash and of course got the deal, though we turned it down as the data originally given on water availability was not accurate.

Ecuador has a very disorganized property market and so some property owners ask prices that are quite illogical. I have seen instances where two identical properties were for sale, one next to the other, the only difference being that one buyer had to sell…the other was just waiting for an unreasonable profit.

Plus non residents are often offered property at higher prices under the assumption that we do not know what we are doing…or that we are rich so we do not care about price.

Ecuador has a history of devaluing currencies and thus real estate has always been held as the ultimate for of wealth. People tend not to sell property unless they have to. Though Ecuador has used the US dollar as its currency for seven years now, the attitude has not changed.

There are three general reasons why people sell real estate in Ecuador . #1: They have to have cash. #2: An estate sale. #3: They have set a high price and if some is crazy enough to pay…they’ll sell.

Those who learn the market and then search will run across some number ones. This is when you can get a better price by offering cash.

I once met a man who told me he bought an entire mountain for $10,000. “How” I asked. “I met a man who owned a mountain and he had to have $10,000.”

This is how you find special deals.

Merri and I send our best wishes to you for a Merry Christmas.

Gary

Join Merri and me to learn how to export from Ecuador and other sunny climes.

Feb. 18-23 Ecuador Import Export Course

http://www.garyascott.com/catalog/ecuador-import-and-export-tour

See a few of the markets and goods you’ll enjoy – leather goods of every type in Cotacachi – Flowers from across the country – Jewelry at unbelievably low prices – Textiles and rugs of all types in Otavalo and Peguche – All types of wood crafts from San Antonio de Ibarra like these hand carved doors at our hotel – Wonderful antiques and reproductions art and frames and herbal formulas from the Amazon at URL:

http://www.garyascott.com/2007/12/22/1934.html

We’ll have the courses at our country inn, El Meson de las Flores .

 

Our Ecuador Winter Courses Include:

Jan. 18 – 23 Ecuador Spanish Course

http://www.garyascott.com/catalog/ecuador-spanish-course

Jan. 24-25 Imbabura Real Estate Tour

http://www.garyascott.com/catalog/ecuador-real-estate

Jan. 18-23 Spanish Course & RE Tour and Jan. 24-25 2008 Imbabura Real Estate Tour and save up to $349.

http://www.garyascott.com/catalog/ecuador-tours-november-2007

January 30 to Feb 1 AWAI Self Publishers Workshop. See http://www.garyascott.com/2007/11/02/1862.html

Mar. 7-9 International Investing and Business Made EZ Ecuador http://www.garyascott.com/catalog/international-business-made-ez-ecuador

Mar. 10-11 Imbabura Real Estate tour

http://www.garyascott.com/catalog/ecuador-real-estate

Here is one property we’ll see on the Ibarra tour.

 

Mar. 12-14 Coastal Real Estate Tour

http://www.garyascott.com/catalog/ecuador-coastal-real-estate-tour

Here is one property we’ll see for sale on the coast.

 

Most delegates in March will join us for all three courses as there is a sizable savings.

If you attend all three courses separately the fees are $1,847. Sign up for all three at only $1,499 here. Save $348. Three course savings

Three courses for two separately are $2,597. Two on our three course adventure is only $1,999. Save $598. Three courses savings for two