Comments on: Back On The Market: Grande Pointe Foreclosure http://www.longbeachsales.com/Blog/2009/07/06/back-on-the-market-grande-pointe-foreclosure/ News, Community Information, Events, Listings, Price Reductions and More! Fri, 15 Jul 2011 23:47:04 +0000 hourly 1 http://wordpress.org/?v=3.0.1 By: Panama Real Estate http://www.longbeachsales.com/Blog/2009/07/06/back-on-the-market-grande-pointe-foreclosure/comment-page-1/#comment-4755 Panama Real Estate Mon, 13 Jul 2009 15:31:24 +0000 http://www.longbeachsales.com/Blog/?p=1176#comment-4755 Noticed your listings. Having a bit of the same problem in Panama City, Panama. High end property on the Bay of Panama has taken a hit with fewer North American buyers. Speculators who bought at "pre construction" are stuck with paying more that the property is currently worth. This is not so much a problem for the individual who intends to retire in and live in Panama as prices will surely come back in a year or so. The problem is for someone who has purchased three condos on speculation and expected to make money on each of the three by reselling after closing. Noticed your listings. Having a bit of the same problem in Panama City, Panama. High end property on the Bay of Panama has taken a hit with fewer North American buyers.

Speculators who bought at “pre construction” are stuck with paying more that the property is currently worth. This is not so much a problem for the individual who intends to retire in and live in Panama as prices will surely come back in a year or so. The problem is for someone who has purchased three condos on speculation and expected to make money on each of the three by reselling after closing.

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