Let's try this one more time

I write one sad-sack post about how all opportunities are slipping away, and a day later everything changes.

I went home that night after writing that post, looking through the roll-call of houses on the various sites. It was a list of "sold" or "under contract" and a few other houses far from my preferred neighborhoods. A couple in neighborhoods I do desire were incredibly high in price.

Angie tried reassuring me that she's been working hard at her photography business and that things will turn around and then we'll be able to afford "whatever we want."

I like her wishful enthusiasm, and it made me feel a little less down.

The next morning I went back to Isaac's site where I had seen a property I liked, but was too expensive for me, of course. Damn my fine taste!

I just wanted to go and drool over it a little more. Try and convince myself if I moved enough things around, maybe it wasn't so crazy and unreasonable (it was.)

What popped up first in front of me on the site was a lot for sale. I didn't remember seeing this the night before? Was it new? Did I somehow miss it?

I searched a few other sites to try and find it. Isaac only had two photos on his site and the description was somewhat vague. Maybe another website would have a roughly pinpointed map. As I've stated before, the maps are rarely correct, but they're usually within a block or three.

No luck, it wasn't anywhere else.

I searched Google Maps for a while, trying to pinpoint it. Not wanting to bother Isaac if it was way out there. But I couldn't find it. So I emailed him.

And I waited. But I don't have patience anymore, if I ever did. I'm greedy to know the location. So I search again. And again nothing.

Still no word from Isaac. I'm sure he's busy, hopefully not busy selling this property to someone else.

I search one last time, and bingo. Direct hit. I know where it is.

It's about 4 blocks outside of my preferred zone. But it is also within a block of La Plancha. The old train station and rail-yards that are being turned into a park. If you believe the hype, and I generally don't believe hype, this large area will be transformed over the next several years into Gran Parque La Plancha, a sort of "Central Park" of Mérida.

Currently this lot is not in the greatest of locations, a bit too industrial for my tastes. But if the park pushes through, that could very well change. It's a big if.

But it's also an empty lot. We won't have to worry about potentially maintaining an empty house for ten years while we decide what to do next and see where things go. We'll probably need to hire someone to go in a few times a year and keep the jungle at bay, but there's nothing we have to really worry about being damaged or stolen or vandalized.

If we're just a little lucky (if you read this blog you know we aren't, particularly) the worst that will happen is that maybe we'll sell the land in the future, hopefully for a little more than we paid and it turns out to have been a wise little investment.

If we're super lucky, the park will be completed. Restaurants and markets will pop up all over the area. Other abandoned homes in the area will be purchased and fixed up. And we'll have a nice little neighborhood to build a house into.

Of course, we still have to clear the biggest hurdles. Actually buying the house.

One thing against us right now, the exchange rate. The peso is stronger than it's been in years and may get even stronger in the next month or so. Whatever I offer today may be costing me a lot more tomorrow.

Isaac writes me back and confirms the location that I had already found. It is still for sale.

I offered in U.S. dollars. The owner seems receptive, but he is also worried on the exchange rate. Do I get to stick to my offer, and he has to ride the waves of the exchange rate? Or do I have to settle on an amount in pesos and gamble the rate doesn't tip absurdly?

I wrote Isaac back, settling on an amount in pesos that is currently just a little below my initial offer in dollars. I know the market is going against us, so I'm trying to hedge my bet as much as I can. Even if the rate drops fairly low, lower than it's been in over a year, I should be within a decent range of my initial dollar offer. It will hurt a little bit, but it won't be catastrophic.

If, for some reason, President Trump throws a fit and tears up NAFTA on the White House lawn, then I expect the peso to slip and I may end up with a deal. I don't expect that to happen. But it is Trump, so only God knows for sure.

If I can somehow get the money converted to pesos right away, that might be my best bet. I'm going to attempt to speak with the bank tomorrow and see what my options are.

And, the owner might reject my peso offer completely. I guess we will wait and see. Hopefully I will know more later.

Comments

Popular Posts