Is the USA real state meltdown affecting prices of real state in Nicaragua ?

Or the real state of Zen consciousness...or as the may be unconsciousness. ZZT

For example prices of lots that are located in developments have dropped a little.

As always, it depends how badly the seller wants out. On Monday, we are about to list several properties that have been foreclosed on. This maybe something for bargain hunters to keep their eye on.

On the other hand, we have been super busy with the sales of larger properties and agricultural properties. (But then, this has been a large portion of our business all along.) The industrial buyer is still looking for what is right for them and their business.

The prices of those properties have moved very little if at all.

Most people, me included, have no clue as to the total mess we are talking about. Because so much bad paper was eventually sold to banks outside the U.S., we have a lot more excitement coming. Spain and the UK hare already joined the "oh shit" club.

From the current poll, it sounds like more people will be heading this way rather than less. But, it is likely many of these are people from Nicaragua with property here. Those that have a second home here may no longer be able to afford it and those that don't probably won't be buying one anytime soon.

On the plus side, little is financed here so changes in the availability of credit won't make any internal difference. It will, of course, slow down the person in the US, UK, ... that was considering refinancing their current house to get investment capital here.

If you look at what happened in the financial markets on Friday, the only thing that seems clear is that nothing is yet clear. For example, while stocks were dropping like a rock, the US$ pretty much didn't move against other currencies but both gold and silver dropped a lot. So, keep watching.

On the personal level, some people probably lost a good chunk of their retirement which could seriously change their plans. Those that don't have much in the way of liquid assets are probably panicing right now and that could account for fire sale prices on real estate. But, it seems that is probably temporary.

I have been thinking a lot about the overall picture right now and trying to decide what to do with the CoolTop project. That is, do you pre-buy construction materials assuming they will go up (because everything seems to go up) wait because lower demand should cause prices to drop or pre-buy because a large drop in demand could put suppliers out of business? We picked pre-buy but that really is just our best guess.

Just recently in Granada some properties that are listed have been repriced from 20 to 40K less.