Contrary to some negative buzz on the local grapevine, leading lakeside area realtors see positive signs of stability and future growth in their business sector.
“There are a lot of unfounded urban myths floating around,” says Absolut Fenix broker Dixie Nicholson, recently instated as president of the Chapala Association of Realtors (CAR).
She finds no evidence that expat homeowners are slashing prices to unload property and move on to greener pastures or that lakeside has developed a black eye among potential buyers, despite a three-year tsunami of bad news spread worldwide concerning swine flu, the drug war and political upheaval in Mexico. In fact, she qualifies July as one of the best months for her firm this year and as good as it’s been since the market hit a low in 2009.
The lakeside real estate market took a dive in the wake of the housing bubble and financial crisis that rocked the U.S. economy in 2007-2008, Nicholson observes. “Lots of buyers were forced to cancel deals that were in progress. Some foreign residents had to bail out of the area to go back to work.”
She is confident that the market trend is now on the verge of a strong turn around. “This area has huge appeal for the one million baby boomers who are retiring every year. We’re very optimistic about the future.”
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