Medellin Realestate Guide

To begin with, there really is no such thing as consistency in prices for Medellin Realestate.  There are no MLS listings, realtors cannot pull comparables (comps), the property sizes are generally in square meters instead of square feet (1 Sq meter=10.763911 Sq. Ft) and except for new construction which generally has prices listed, re-sales are generally whatever the buyer will pay.  Furthermore, like in many US cities or cities around the world, it really depends upon the location of the property.  In nicer neighborhoods a 2,000 Sq. Ft. property will sell for more than in other neighborhoods.

Now, Medellin realtors are notorious for asking you, “how much do you have to spend?”, or “what price range are you considering?”.  In the US, that equates to what properties a realtor has available in the Multiple Listing Service (MLS) to show you.  Naturally, they want you to spend as much as you can because it means more commision for them. (Note: Medellin Realtors are not required to have any kind of license)

In Medellin, you may find every property you are shown will be the maximum of the price range you have volunteered.  Never answer the question in the first place unless you have seen a listing price published on a property in which you are interested.

I had one realtor show me properties in a volunteered price range.  every property was at the maximum of my range irrespective of size, age or location. It almost became preposterous on some of the real shabby properties he was showing me.  I feigned illness and called a quick halt to our search.  He bugged me daily, for weeks, to resume our search until I told him I had found something on my own.

What was funny, I had another realtor show me one of the same properties this guy had shown me.  He showed me the listing information with the listing price clearly written.  Ahem….50,000,000 pesos (about $25,000) lower than what the first guy had quoted me.  He was planning to put $25,000 above the list price in his pocket.  Local friends tell me they try it all the time.

The same thing can be said if you are rental apartment hunting.  When they ask you how much you can afford monthly just respond by saying it depends on the apartment and the location.  Ask to see their listing agreement with rental costs per month and narrow it down from there. Again, I had one agency showing me apartments.  I told the guy I wanted to spend between 1.0 million and 1.3 million pesos per month (about $500-$650..yeah, they can be that inexpensive here).  Suddenly, everything in all parts of the city he was showing me was $1.3 million pesos per month. I asked to see the listing sheets and he conveniently did not have them.  Some of the places were tiny, some were large, some were old, some were new, some were in the nicest neighborhoods some were so far out I would have to spend a fortune in taxis to get anywhere.  After about 4 hours of seeing places with this yahoo, he suddenly got the hook as well.  Now, wanna hear the real rub.  He only had a motorcycle.  I wasn’t about to put my life at risk so I suggested we just hire a taxi for a couple of hours.  I wound up paying for the taxi.  He only had about 5,000 pesos in his pocket.  Think an American realtor would make their client pay to see properties?  Wouldn’t be in business very long would they?

Fresh air on the horizon.  Medellin is becoming a very popular place for expats, people wanting to move here or retire here.  Many have purchased second homes or investment properties.  Well, as in most cases, when there is a demand, someone steps forward and fills the need. There are a couple of english speaking real estate offices opening here and they practice US business ethics when dealing with their clients. A couple of new web sites or splash pages are beginning to post rental apartments, condos, standalone homes and fincas for sale.

Medellin Travel Guide is beginning to accept listings for rental apartments, condos, homes and fincas on it’s web site complete with amenities, prices, locations and photos.

Do the Paisas like it?  Probably not but a few of the local agencies have started to adopt listing prices and amenities along with photos of their available properties.  One even has all of their listings computerized so when you enter their office, you can see everything they have available, prices, photos, amenities, location etc. Unfortunately, they do not speak a lot of English but they certainly are professional and seem legit. (Yes, I did some business with them and was very pleased).

If you visit www.firstamericanrealtymedellin.com , they have several pages of articles about investing in Colombia, Medellin, Medellin Property and general information about the economic outlook for this area. Several are worth the read.

If you are thinking about buying, renting or investing in realestate in Medellin, do your homework, do not be in a hurry, never give a price range unless you have seen listing prices first, never accept that an agent does not have listing sheets for each property and most importantly, look at several places in any building.  You may find a very wide range of prices for essentially the exact same floor plan on a different floor.  How do you find out if other properties in a particular building are for sale?  Go back the next day and ask the portiero (security).  They all know when a unit is for sale in their building.

In Medellin, as it does everywhere, it pays to shop.

Medellin Travel Guide

Medellin Travel Guide – It was a great day in Santa Fe and a good time was had by all

A group of friends had been planning to visit Santa Fe De Antioquia for several months but it seemed like everytime we made plans, something would rear it ugly head to step in the way and prevent it.

Finally, last weekend, we had solid plans in place, a gorgeous Medellin Sunday and it looked like our goal of visiting Santa Fe was going to come to fruition.

Our dates were supposed to meet us at 12:00 “sharp” in our favorite coffee bar, Le Bon, in Parke Lleras.  Well, as is the Paisa way, at 12:30 we called and found they were still sleeping.  We were a little angered and they agreed to meet us at 1:00 (but actually showed up at 1:30)

This was going to cut into our day as Santa Fe is about a 1.5 hour drive from Medellin.  We took off and stopped to get a map and something to drink.  No map but a couple of drinks and snacks made their way into our shopping basket.  Making our way up the windy mountain 2 land roads out Ave 80, there was enough traffic to keep us well below the 60Km per hour speed limit. Once attaining the top of the mountain, we were presented with some of the most idyllic scenery one can imagine.  Huge mountains rivaling the heights of the rockies but covered with emerald green foilage and dipping down into deep valleys criss crossed with rivers and streams.  Several sections of the 4 lane highway had been buried in mudslides (sometimes 100’s of feet deep) which further slowed our advance due to 2 lane slow downs.

Traversing the 7Km long tunnel through the mountain (cost $10,400 pesos one way) was a unique experience and a testament to the engineering skills of the local Colombian people.

Naturally, when you make a trip like this, an occasional potty break is in order.  We stopped at Don Pedros #2 planning to take a break and re-fuel our meager provisions. It turned into a full meal deal lunch break.  The food was excellent, cooked to perfection and very reasonably priced.  About $30 for 4 people including a round of beers and a round to go (except our driver who was drinking a coke).

As we entered San Jeronimo, we were quickly diverted to a detour due to a massive rock and mud slide up ahead.  As it turns, this was a delightful bypass as it afforded us a view of the “Old Highway” that used to serve Santa Fe from San Jeronimo.  Fincas, pousadas, small hotels and hostels lined the road.  All excellently maintained, hedges well groomed and tranquil settings amongst the trees and lakes that dot this area of Colombia.  Small vendor stalls loaded with fruits, vegetables, local crafts and sweets take you back in time to an era a hundred years ago.

As you approah the Puente Occidente (West Bridge) that is the main entry point to Santa Fe you suddenly realize you are about to be taken back in time. This bridge was one of the first ever suspension bridges in the world and quite possibly the first in South America.  Cars naturally slow down as they cross the bridge, not because of safety reasons but to view the rapidly flowing Cauca River below.

When you reach the other side, you are immediately taken back in time to a period of colonial architecture complete with cobble stoned streets, stucco houses and terra cotta roofs.  Santa Fe has been so well conserved in this period of architecture that in 1960, it was declared a Colombian National Monument.

Finding a parking space along the many intertwined streets was simple and as we exited the car and headed for the town square, we knew we were in for a treat.  After snapping way too few photos and taking a little bit of video, we walked the square taking in all the delightful local treats, arts and crafts and just intermingling with the people in general.  We found them to be very friendly, very courious at having a couple of gringos visiting their town, willing to go out of their way to make sure we had a pleasant experience.  We finally settled into a small outdoor resturant to have some refreshments.  Naturally, the local national drink Ron Medellin Rum was our order of choice (driver still only drinking coca cola).  We wiled away several hours taking in the scenery and sights.  Doing a lot of people watching it became clear that Sunday was family day.  While Americans are holed up inside their homes watching sporting events, or visiting the beaches, lakes and parks in small groups, these people are actually out visiting with friends, family, neighbors and making a day of relaxation amongst the whole townspeople.

Alas, due to our late departure, the setting sun became more ominent and we wanted to get a start back over the mountain before it got too dark.  Well, best laid plans!

Just ourside of San Jeronimo, fueled by the afternoons beverages, the ladies had to make a potty stop.  That turned into a meal at a roadside fonda clled Acacias.  Folks, absolutely some of the finest smoked ribs (beef and pork), chicken and steaks I have ever tasted.  I got a combination protion to take home with me.

The rest of the drive home was uneventful and we arrived safely at our apartment.  Everyone was drowsey but had a very enjoyable day in Santa Fe De Antioquia.

Normally a shutter bug photog at heart, I realized I had only taken a few photos and a few minutes of videos even though they were within grasp of my hands most of the day.  I guess the newness and uniqueness of visiting Santa Fe caused me to forget one of my ultimate goals of going there.  Oh well, guess another trip is in the near future to get more media on this delightful old city 80 Km from Medellin.

Worth a day of your vacation to visit.  You can rent a car or taxi by the hour to make the trip.  Enjoy and share your experiences.

Medellin Travel Guide.

Medellin Travel Guide – Santa Fe De Antioquia

It was a beautiful day in Santa Fe and a good time was had by all!

 This quaint and well preserved Colonial city 80 Km west of Medellin is a great way to spend a day during your visit to Medellin. Founded in 1584, it was originally the capitol of Antioquia before the capitol was moved to Medellin. It stands today with it’s well preserved Colonial architecture as a Colombian National monument.Getting there is as much fun and excitement as being there. An idyllic drive through some of the most beautiful emerald colored mountains and valleys, crossing several rivers, traversing a 7Km tunnel built through a mountain and stops along the way at small fondas for some excellent Colombian food makes for a perfect day of sightseeing.

As you exit the tunnel, you quickly enter the town of San Jeronimo and travel along a 2 lane twisting road bordered by incredible fincas, small to medium sized pousadas, hostels and hotels. Small roadside stands are loaded with local fruit, vegetables, local crafts and the indigenous Tamarind cakes, candies, cookies and other assorted presentations of this local fare.

You must first cross the Puente Occidente (west bridge) which was one of the first suspension bridges in the world and possibly the first in all of South America. Below is the rushing Cauca river with its brown stained waters. It invites one to reflect back to a time in Colombias history when Santa Fe was a gold mining town.

As you enter Santa Fe De Antioquia, you are immediately whisked back in time to an early colonial city with cobble stoned streets spanish stucco walls, terra cotta roofs and solid wooden doors with ornate carvings. The city park square is overshadowded by the massive white Metropolitan Cathedral and small bars, restaurants and tiendas line the other three sides of the square.

In the center of the park is a statue of Juan del Corral, the citys liberator and first mayor. A giant fountain (seen above) splashes water from its two trays above. The park is filled with families, friends neighbors and children having conversations, playing, eating and just watching the world pass by.

Santa Fe is beginning to rely more and more on tourism now that the tunnel has made access easier. Many Paisas escape there on the weekends to enjoy it’s warmer climate and relax at their fincas. You will also see more shorts worn there than in Medellin

A trip there would not be complete without stopping at one of the two Don Pedro fondas (between the tunnel and San Jeronimo) or Las Acacias for some of the finest smoked ribs, steaks or chicken to be found anywhere in Colombia.

Medellin Travel Guide- Colombian Passport Requirements

You will need a valid passport to enter Colombia with at least 6 months remaining. US citizens do not need a visa for visits of up to 60 days. If you want to stay longer than 60 days, you will be required to go to DAS (Departamento Administrativo de Seguridad) and get a 30 day extension. Maximum stay per visit is 90 days. You may travel to Colombia for up to 180 days in any given year without a visa.

There are many countries that do not require a visa.  For countries that do require a tourist visa, you should check with the nearest Colombian Embassy for your country.

Colombia is focusing on tourism, medical tourism and business tourism as a key to boosting it’s economy.  Once people get past the bleak history of Colombia and discover what a hidden paradise it really is, they rave about their experiences and return frequently.

Last year, Colombia had over a million visitors for the irst time in decades and the Tourism Board is expecting upwards of 2.0 million people to visit in 2008.

Maybe you should check it out too…..

Medellin Travel Guide

Medellin Travel Guide – Medellin Apartments and Penthouses

As has been noted, Medellin Colombia is experiencing an incredible building boom. As of October, 2007, there were 145 high-rises under construction in Medellín, including 29 being approved, and 25 being proposed.

Many of these construction projects are for new high rise apartment buildings and most of them are Class A properties.  This is resulting in a lot of vacant apartments and many are being rented.

It is never easy to rent an unfrunished apartment in Medellin as a foreigner.  Most times they want a Feador (co-signer or guarrantor for the rent).  If you don’t know a local Colombian with good credit, the likelihood is that you can’t rent an apartment unless you pay 6 months or more of your rent in advance.

As far as furnished apartments go, many Ex-Pats have purchased and furnished very upscale apartments and penthouses as rental properties, second homes, retirement homes or for investment.  These properties are generally rented short term, a week or two, possibly a month or longer.  In most cases, you will not require a feador to rent these properties if you are just visiting Medellin for a short stay or are coming here to buy a property of your own.

Most come fully furnished with cable TV, wireless internet, VOIP phones for free calls to the US and W. Europe, pools, gyms, saunas, 24 hour private security and more.

If you are visiting Medellin for the first time, it is recommended that you stay in one of the nicer Poblado Hotels or any of the Bed and Breakfast locations around town.  If you are a seasoned Medellin visitor, you may want to consider a furnished Medellin apartment or penthouse for your visit. If you are traveling with a couple of friends, you can have a very upscale Medellin penthouse for less than the cost of many hotel rooms.

Look around.  You might be surprised at what you find.

Portofino Casino-Medellin Colombia

One of the newer and certainly more upscale casinos recently opened in Medellin is the Portofino Casino in Portofino Plaza on Av. Poblado, El Poblado, Medellin Colombia. Medellin has the second largest number of casinos in Colombia for any city where it has been legalized but these are not gigantic casinos like you would see in Vegas, Tahoe, Reno or Atlantic City.  These are more like a few thousand square feet rather than a few million. Attached in the same complex is the very upscale Holiday In Express along with shops, restaurants and offices.

I am not a big gambler and don’t go to casinos with any regular frequency but yesterday, a visiting friend wanted to go play some roulette so I decided to join him.  I had been inside Portofino once before just for a look around shortly after it opened.  I was impressed with it’s layout, it’s decor, it’s professional staff and the range of gaming offered.

Many casinos in Medellin only offer slot machines.  Some offer limited table games while Portofino offered a wide range of slots, several Black Jack tables, Roulette, Caribbean Poker and more.  They also have several promotions offered this month (and usually every month there are several).  This month, they are offering $20,000 pesos in playing money just to sit down at a table.  You can double down against a dealers ace and if you loose, they do not take your double down bet.  If you win, they pay both.  Anytime you get a blackjack, they give you an entry ticket to win a free car and one is awarded every month. Drinks are free, light snacks are served at the tables and the dealers and pit bosses are very friendly (many speak English). The minimum bet at the table is $5,000 COP (about $2.50 USD).  General Black Jack rules apply including your ability to surrender a crummy hand and get back 1/2 of your bet. You may play multiple hands on vacant seats.

Normally, when I go to a casino, I play $100USD.  If I win $100, I quit.  If I loose $100 I quit.  I got close to winning but ultimately walked out a looser.  Such is the life of gambling.  I am probably even on winning/losing over the years and have never really made a big deal out of keeping track.  For me, gambling is a form of entertainment that I do so infrequently as to make it merely something different to do for an afternoon or evening.

If you are visiting Medellin, we can highly recommend the Portofino.  It is in an extremely safe and seure area of town, has a lot of security, will hail and escort you to a passing taxi, you can walk there from most Poblado Hotels, you will find a number of local ex-pats, tourists and Medellin visitors and as mentioned, many of the staff speak some English.

Medellin Travel Guide

Medellin Travel Guide-Medellin Weather

The weather is often used as a means to start a conversation with a stranger, co-worker or ice breaker with the fancy of your eye.  In Medellin, it is almost a daily topic of conversation amongst friends.

It is Sunday, Feb 17th.  The sky is sunny with a few billowy puffs of clouds.  Temperature is around 74F.  Unusual you ask?  No, really quite the norm.  You see, they call Medellin the City of Eternal Spring and it justly deserves it’s title.  The weather here is nothing short of spectacular.

 Where else can you live that when it is warm, you open the windows and when it is cool, you close them.  If that is not energy efficiency at it’s sublime, I don’t know what is?

There really are only two seasons in Medellin, Summer and Winter but those do not really appropriately describe the climate. Summer here is when it does not rain a lot.  Winter is when it does! For the most part, the temperature ranges between 68F and 75F although you will see a few days above and below those ranges.  At night it can get a little chilly but nothing below light jacket or sweater weather. In the heat of the day, at most a light T-shirt.  Jeans or long pants are the norm and about the only shorts you ever see are on early morning joggers and tourists.

At just over 5,000 feet above sea level and surrounded by gently sloping hills and low mountains, positioned near the lower base of the Andes, Medellin enjoys cool breezes and year round spring like weather.

“So, what do you think of the weather”, a friend asks?  “Just like yesterday and the day before and the day before that.  Perfect!” I responded as we sipped our morning coffee together.

Shangra-La had nothing on this city.

Medellin Travel Guide

Medellin Travel Guide-Opinion on the Free Trade Agreement

Althought MTG is not a politically based web site, it is sometimes hard to overlook things that are directly impacting the ongoing improvements being made in this country by it’s president and people. Sometimes, ya just gotta speak your mind!

There is a lot in the press about how the Democrats in Congress are blocking a FTA with Colombia because of anti-union activities and human rights issues.  What they fail to consider is that Colombia is the United States largest trading partner in Latin America, that Colombia has reduced crime, homicides, all but eliminated paramilitary groups, forced guerillas into the jungles, eradicated huge tracts of cocaine producing land, and is our staunchest ally against Hugo Chavez in Venezuela. 

Isn’t that like telling your best friend you wouldn’t do busines with them when they need it the most?

I’ve read a lot of articles about the FTA.  I followed the US Drug Czars visit to Medellin followed closely by our Secretary of States visit a few weeks ago.  I’ve read the pros and the cons of both sides and must admit I am having a little trouble with the logic on the con side (especially since I live here and their rhetoric is not substantiated by any clear facts).

While going through some old news archives, I ran acros this article by Dick Morris that was published in 2007 in www.frontpagemag.com I think it proposes the most logical reason in the world for the Democrats to take off their blinders and provide some real economic help to it’s best friend in Latin America.

Well said Dick and thanks for the loan of your article.

Free Trade for Colombia By Dick Morris Error! Hyperlink reference not valid. | May 23, 2007

The recent deal between Congress and the White House clears the way for the ratification of free-trade agreements with Panama and Peru, two American allies in Latin America. But what about Colombia? Colombia has risked the lives of its police and military and sustained huge casualties in an effort to do us a favor by keeping drugs off our streets. Our military aid to Colombia has not been frittered away on useless hardware or used to line some general’s pockets, but has paid for a military that has disarmed the drug dealers’ personal armies — 30,000 have been disarmed — and driven the leftist drug-linked guerillas into hiding in a remote jungle portion of the country. Unable to come out or mount operations in major urban areas, they are just trying to survive, to stay one step ahead of the American helicopters manned by brave Colombian soldiers that pursue them. I recently visited Medellín, Colombia, once the heartland of the Medellín Cartel, the main drug ring in the hemisphere. Drug lords have been driven out of the area and there have been no kidnappings, once a staple of Medellín life, in the past three years. But Colombia is entitled to ask a basic question: If you don’t want us to sell drugs to your children, why won’t you at least let us sell you bananas, sugar, flowers, textiles and other products without imposing tariffs on us? Peru and Panama are both loyal allies, but their soldiers are not conducting daily drug sweeps through the mountains trying to stop drugs before they reach our schools. And Colombia is. If the Democrats in Congress scuttle the Colombia free-trade deal, they will undermine and undercut Colombia’s successful war on drugs. The troops in Colombia who risk their lives daily to smash labs, defoliate cocoa plants, and arrest drug lords will find themselves swimming against the economic tide. If the United States does not reward Colombia by making its exports — other than cocaine — profitable, it will leave the poor of that South American ally no choice but to go back to the drug labs. The agreements with Peru and Panama have moved ahead because of the administration’s willingness to include requirements of fair labor and environmental practices. The more paranoid concerns of the neocons, that such provisions could be turned back on the U.S. and used to advance the agenda of the AFL-CIO here, have apparently not carried the day. The issue that seems to be holding up the ratification of the Colombia accords relates to anti-union tactics there. Clearly, language could and should be written into the treaty that satisfies our labor movement that their compatriots in Colombia are being treated fairly. But Álvaro Uribe, Colombia’s president, has won broad backing for his battle against drugs and has strong support from all elements in his country.

 

And internationally, Uribe is the leading opponent of Venezuela’s Hugo Chávez and his anti-American ranting. A staunch ally of the U.S., Uribe is a democratic beacon to counter the fog of oppression that is rolling across Latin America from Caracas. There are few success stories on the continent the equal of Colombia’s, and we should reward it with a free-trade agreement.

Hummm…the voice of reason and logic? Make your voice heard with your congressmen.  Tell them you would rather be buying Colombian bananas than have your kids buying Colombian cocaine!

 

MTG-OK, off our soapbox for now! Back to to good stuff about Medellin!

Medellin Travel Guide-So whats in a URL name?

We are www.medellintravleguide.com We are Medellin Travel Guide.  We are the largest English web site dedicated only to Medellin Colombia.  We live in Medellin Colombia. We have over 150 pages of Medellin centric topics, accurate and current information about visiting Medellin Colombia.  We have over 150 Medellin photos. We have over 150 links to Medellin Hotels, Hostels, Bed and Breakfasts, Restaurants, Tour Agencies, Malls, Museums, Attractions.  We have 11 videos about Medellin Festivals, Nightclubs and Discos posted on YouTube.  Everything on our site is current, correct (to the best of our knowledge), updated monthly, ever evolving and yet, we do not have position 1 page 1 for a search for Medellin Travel Guide on any search engine in existence.

For example on Google,  page 1 position 1 belongs to World66.com.  Granted, they are a world wide travel site focused on cities all over the world and their contributors are actual travelers but, their last post was from August of 2006? They have 3 posts about Medellin Accommodations from the owners of the establishments; They have a brief mention of the Medellin Metro as a means of transportation without any mention of buses or taxis; They mention 2 museums in a city teeming with over 40 to visit; They mention 3 internet cafes in a city with the most internet connections in Colombia, hundreds of internet cafes and no mention of Wi-Fi Hot Spots; They only mention the Feria de las Flores in a city that has ferias almost every month; and, they have a whopping 30 photos posted of the city.

Third place goes to Virtual Tourist.  A travel site consolidator that gets travelers to post trip reports of their travel experiences. They boast 20 members living in Medellin, 99 photos and 71 Medellin Tips. Their last person living in Medellin that posted was Feb of 2007?

Position 4-This one is a real standout.  Title Page: Medellin Travel Guide | MyTravelGuide.com.  Another travel site consolidator for hotels (a grand whopping 1 hotel listed, 0 restaurants, 0 attractions, and 2 outdated deals listed by Travelzoo), well, it just goes downhill from there!

Somedays, I do not know whether to be honored or angry that they use our website/URL name in their title page.

Then there is Wikipedia in position 2.  We love this organization and all it has done to bring knowledge and information to the world at your fingertips.  We have even recently opened an account to help edit the information on Medellin on it’s site.  Not only is it outdated, much of it is downright wrong including the name of the person that discovered Medellin. For the sake of world knowledge, we will endeavor to commit an hour per week to getting it corrected.  We like Wiki and will help them all we can and are proud to have them use our name in their title page.

Then, there are the creative wannabes: TravelGuide-Medellin; Medellin-Travel-Guide; Colombia_Medellin_travelguide

We also like the sites that refer you to a city in Spain or the Phillipines named Medellin (don’t get on the wrong flight). Whatever they are, there are page after page of websites listed on Google, MSN, Yahoo. AltaVista and others that use Medellin Travel Guide as their 1st position Title Page description but……….There is only one www.medellintravelguide.com

Somedays we chuckle at what we find on other websites.  For instance, one site listed its favorite restaurant and even recommended it’s favorite item to order from the menu.  Save your taxi money. That particular restaurant was closed and bulldozed over a year ago to make way for a casino expansion.  Or the site that advertised special hotel rates for Feria de las Flores.  Unfortunately, the rates were from 2004 as were the dates for the festival. The best one was for a very upscale Medellin Hotel that really had us searching high and low for where this hotel was located. Suddenly a light went off about the address and we realized this hotel had been purchased and it’s name changed in 2005. Then there are the clubs and discos that have been closed for years or changed names, directions to local attractions that are incorrect, old maps that do not show new highways, links to sites that do not exist anymore or never existed in the first place and ad infinitum.

We spent hundreds of hours researching our data and facts.  We do monthly updates and announcements and on some pages, daily updates, we have people stopping us on the streets or approaching us in restaurants for information (The best was, “Hey, how many species of birds are there in Colombia?”  Our response, “1810, more than any country in the world”.

We must have done something right in choosing our name (and we made sure we had the .net  .info and .mobi URLs as well.  Now if we can just get the search engines to give us our credit due with page positioning we will be very happy.  We are working on it and hopefully someday soon, you will see our website where it belongs when you do a Medellin Travel Guide search. Just don’t put a lot of faith in the information you see on other websites unless it is current.  We’d hate to see you try to book a room at a hotel that no longer exists!

Medellin Travel Guide

Medellin Travel Guide-Buying Property in Medellin

We hear it often, “I wish I had bought Medellin property three years ago!”If you had, you would be over 24%-30% ahead in your investment value.

Yes, Medellin is experiencing a building boom in both residential and commercial construction. As of October, 2007, there were 145 high rises under construction in Medellín, including 29 being approved, and 25 being proposed

There are more high rise construction projects underway and approved in Medellin than NY, Philadelphia and Los Angeles combined;

Both new and existing condo, home, apartment and commercial office space is in high demand.

Prices are still well below US standards. Asking prices are in the $90-$125 per square foot price range for upper scale properties in the Poblado area. Much less in other areas. Ask to offer price is usually in the 70-80% range. Final sales price is based upon your negotiating skills and what you can get them to include.

While we do not claim to be experts on the subject, here are a few things you should be aware of before you buy;

Some FAQ’s:

Can I buy property as a foreigner in Colombia? Yes!

Can I own the land as well as the structure? Yes (except in condos and apartments where common areas are co-owned by all residents. Just like in the states).

How do I know if it is a good price? You have to do your homework. Look at many different places. Document price ranges per Sq. meter (10.71Sq.Ft.) and get a feel for the range of prices in a particular building or neighborhood. They do not have MLS types of Comps. available. Properties in more upscale neighborhoods will be more expensive per Sq. meter.

Can I get Title Insurance? As a rule, no. It is advised to hire a competent local English speaking Real Estate Attorney to handle all closings and ownership searches. The closing will be conducted at a local Notary office who also has the responsibility to make sure the property is unencumbered from any taxes or outstanding debts (like Condo service fees) and that the registered owner is making the sale.

Can I get financing? Again, as a general rule no! (there are a few companies in the US offering financing on new construction but the interest rates are terribly high).If I can’t get financing, how do I pay? Usually with a wire transfer to the owners bank account for the full amount of the purchase.

What are the Realtors fees? Generally 3%.

Who pays the realtors fees? Depends on whether the realtor is serving as a buyers or sellers agent. Ask first.

What are the general offer to asking price ranges? Generally, offers are 20-30% below the asking price. Negotiations begin from there.

What will the owner leave behind? Usually you have to negotiate for everything including appliances, window treatments, light fixtures etc. We have heard of owners taking everything including light bulbs, hot water heaters, jacuzzi motors, curtains/drapes and more. Make sure the owner agrees to include an itemized list of the items you want left behind.

I don’t speak Spanish. Are there any bi-lingual realtors in town that could help me? Yes, there are a few.

Will the contracts be in Spanish or in English? In Spanish for the ones that get formally recorded at a local notary. Your attorney should provide you a copy in English. You can confirm the accuracy of the document translation through a local translation service if desired.