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Post by johninajijic on Sat Oct 06, 2012 2:44 pm

gringal wrote:Can't disagree that there are more restaurants than patrons here. Same thing in San Miguel de Allende. Awesome turnover. Sadly, the old saw is correct:
"If you want to make a small fortune, start with a large one and open a restaurant".

Or maybe it's just "Hope Springs Eternal".

Except in SMA they charge US prices, same as PV.
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Post by gringal on Sat Oct 06, 2012 3:08 pm

johninajijic wrote:
gringal wrote:Can't disagree that there are more restaurants than patrons here. Same thing in San Miguel de Allende. Awesome turnover. Sadly, the old saw is correct:
"If you want to make a small fortune, start with a large one and open a restaurant".

Or maybe it's just "Hope Springs Eternal".

Except in SMA they charge US prices, same as PV.

No argument there. When we lived in SMA, we found some good, reasonable eateries, but the ones catering to tourists were charging amazing prices. However, SMA restaurants can do that because there ARE so many tourists. I really have no idea how that compares with those who come to Lakeside from Guadalajara to dine on weekends. SMA draws a large number of visitors from Mexico City on weekends as well as the "normal" tourism from elsewhere.

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Post by johninajijic on Sat Oct 06, 2012 3:38 pm

gringal - Nice place to visit, but you couldn't pay me to live there. Too much traffic, narrow sidewalks, pollution from cars and waaaay overpriced homes, but that may have changed. Much too cold in winter. Too far from hospitals. The best is Lakeside.
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Post by CanuckBob on Sat Oct 06, 2012 3:44 pm

Having just spent a few days there in May, with some friends that have lived there for many years, I think you will find that there has been many changes in the prices, particularly the real estate. According to what I saw and was told, they have probably been hit harder than the lake at this point.
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Post by johninajijic on Sat Oct 06, 2012 4:06 pm

CanuckBob wrote:Having just spent a few days there in May, with some friends that have lived there for many years, I think you will find that there has been many changes in the prices, particularly the real estate. According to what I saw and was told, they have probably been hit harder than the lake at this point.

What do you think a house like mine would go for there, 800 K - 900 K?
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Post by CanuckBob on Sat Oct 06, 2012 4:10 pm

Not a chance now a days. I would say 300K to 400K tops in todays market there. You should google San Miguel real estate and check it out for yourself.
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Post by johninajijic on Sat Oct 06, 2012 4:15 pm

CanuckBob wrote:Not a chance now a days. I would say 300K to 400K tops in todays market there. You should google San Miguel real estate and check it out for yourself.

WOW!!! About 8 years ago when we were in SMA we took a RE tour of 3 houses. We saw this one remodeled house about half the size of ours on a postage stamp lot away from town for 1.2 million. We didn't even like it. We walked out and laughed. Our house there would have been 2 million.
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Post by CanuckBob on Sat Oct 06, 2012 4:20 pm

Our friends knew the owner of a magnificent hacienda right in the downtown core of SMA. It took up 1 square block. It was valued at over 3 million at the peak. It recently sold for just under 800K. They tell me overall prices are probably down 50% (or more) from 2007. Some more, some less. The more expensive ones always take the biggest hit.
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Post by CanuckBob on Sat Oct 06, 2012 4:32 pm

I split these posts off from the Lake Burger thread........
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