One for Bearishgirl

[Jazzman]

BG, you asked me to post on my home search in France. I have an offer accepted in this home, three beds, 2,000 sq ft. 1.5 acre garden, pool for €367k. It’s an old forge, with original outdoor bread oven, perched above a valley and river. It’s near the outstanding medieval village of Beynac and town of Sarlat, which has applied for Unesco status. See pics below.

So for the price of a modest home in coastal soCal I have secured a new townhouse in Maui for $240 sq ft (property tax $450 pa), and a beautiful historic stone house within the “golden triangle” of the Dordogne. I can remember being pilloried for putting forward the ‘old fashioned’ argument of value for money, an intuitive perception of worth.

So my little story concludes well, and I feel vindicated and thankful that my instincts held out. It begs the question of why values in some areas become so distorted. Life style, beautiful environment, bricks and mortar clearly take a back seat to credit markets, and marketing. Earnings alone can’t explain things.

[img_assist|nid=17455|title=House|desc=|link=node|align=left|width=100|height=75]
[img_assist|nid=17454|title=Beynac|desc=|link=node|align=left|width=100|height=67]
[img_assist|nid=17456|title=Sarlat|desc=|link=node|align=left|width=100|height=67]

[FlyerInHi]

Wow, congrats jazzman. Between Bordeaux and Toulouse, so not bad at all. I heard that prices are down in France because of the current recession so good time to buy.

You bring up a good point about value. But even the French don’t see the values you see. They are living in expensive 25 m2 studios in Paris. Go to the Loire valley, not that far from Paris and the prices drop dramatically.

If you’re retired, then yes, you can live in the country in France. Better than the country in USA such as Maine or North Carolina. France is small so you’re never too far away from civilization.

Are you English? So many Brits like to buy country property in France.

I personally don’t like the country or isolation. Plenty of quiet areas in Oahu. The other islands seem so isolated.

[CA renter]

Gorgeous, Jazzman! Hope you have a smooth escrow and closing. How awesome is that?

You definitely got the better deal vs. a very ordinary house in SD, IMHO.

Which location will be your primary residence, and how do you deal with the visa issue WRT how long you can stay in your home in France?

Congratulations, and enjoy your new home!

[flyer]

Wonderful way to live, Jazzman.

We spend a lot of time in both France and HI, along with San Diego, so I definitely understand how you must feel about creating a life around these amazing locales. Just seeing your photos makes me want to take off tomorrow!

Enjoy!

[Jazzman]

[quote=FlyerInHi]Wow, congrats jazzman. Between Bordeaux and Toulouse, so not bad at all. I heard that prices are down in France because of the current recession so good time to buy.

You bring up a good point about value. But even the French don’t see the values you see. They are living in expensive 25 m2 studios in Paris. Go to the Loire valley, not that far from Paris and the prices drop dramatically.

If you’re retired, then yes, you can live in the country in France. Better than the country in USA such as Maine or North Carolina. France is small so you’re never too far away from civilization.

Are you English? So many Brits like to buy country property in France.

I personally don’t like the country or isolation. Plenty of quiet areas in Oahu. The other islands seem so isolated.[/quote]
Yes, I’m more or less retired. Foreign buyers make up a large chunk for these types of homes, and 50% of those were Brits so we saw a spike in prices a few years ago, and as they left with their tails between their legs, the market collapsed. Realistically, these homes would never have reached the levels they did, and of course the French were only too happy then, if not a little dumfounded now. So the bubble was a Anglo Saxon import. Paris is a different ball game, as is Cote D’Azur and even Provence. But then these are exceptional places …which is why they are so popular with wealthy foreign buyers/investors. Nevertheless, few homes in these places represent good value. You have no space for new builds and an increasing population of wealthier buyers competing with a diminishing pool of decent, traditional homes.

Oahu is very expensive. I’ll resist using the term over-priced (although that term definitely applies), because once again space is at a huge premium. However, the quality of homes is poor compared to say California, and we found ourselves tut-tutting as seller expectations way exceeded our expectations as buyers. Maui is less rural and more developed but lacks a center. It’s natural beauty makes up for that. The islands’ isolation makes them what they are.

[Jazzman]

[quote=CA renter]Gorgeous, Jazzman! Hope you have a smooth escrow and closing. How awesome is that?

You definitely got the better deal vs. a very ordinary house in SD, IMHO.

Which location will be your primary residence, and how do you deal with the visa issue WRT how long you can stay in your home in France?

Congratulations, and enjoy your new home![/quote]
Thanks, CAR. US is our primary residence and we’re good for up to six months in France. Their residency rules are very similar to the US, being based on intent, ie where do you intend to make your economic center and prime residence. Quite a few Americans split their time like this actually, and many settle in France.

[FlyerInHi]

Congrats that you’re getting a nice property in France after the bubble popped, perhaps at the bottom. It’s happened a few years after we had our crisis .

I heard that France is now trying new measures to revive moribund housing market.

Yeah Oahu is expensive and compared to the stone houses in France, the quality sucks — like cardboard houses really.

Are your dealing with la canicule in France now?

[flyer]

What we love most about both HI and France is the atmosphere–so conducive to creativity. Although my wife is an exec in the film business, she also writes screenplays, and has done some of her best work in these locations.

We love surrounding ourselves with creative people, and have met some amazing souls in both HI and France.

[givdrvr]

Congrats on your aquisitions Jazzman! What vehicles did you use to find your dream home in France?

[FlyerInHi]

gi, there is a site called seloger.com (literally means to house oneself).

Flyer, HI is a great melting pop with a relax aloha attitude. France is cultural and intellectual. Yeah, good places for creativity. Your wife sounds like what the French call a “femme fantastique”, a well rounded, accomplished, beautiful person.

[flyer]

Thanks, Flyer. Yes, she is a truly exceptional person, and I feel very lucky to have known her.

[Jazzman]

[quote=FlyerInHi]Congrats that you’re getting a nice property in France after the bubble popped, perhaps at the bottom. It’s happened a few years after we had our crisis .

I heard that France is now trying new measures to revive moribund housing market.

Yeah Oahu is expensive and compared to the stone houses in France, the quality sucks — like cardboard houses really.

Are your dealing with la canicule in France now?[/quote]
I’m back in Hawaii now, but there was a ferocious heat wave across Europe that claimed several hundred lives. Didn’t seem that ferocious compared to Hawaii 🙂

[Jazzman]

[quote=givdrvr]Congrats on your aquisitions Jazzman! What vehicles did you use to find your dream home in France?[/quote]
Greenacres.com is about the best for some areas, followed by Leggett and Rightmove.co.uk, but the best method is to pound the sidewalks and visit individual agents offices close to the locations you are looking in. With the market so down in France, agents are more responsive and you will find you get the red carpet treatment. You are a rare beast if you are looking in this market …that’s usually the best time in my books. It’s past the delusional seller stage and asking prices are a bit more realistic, but low ball offers perfectly acceptable. Houses are sitting anything up to 5 years. One thorn is exchange rates which make the Eurozone expensive. If you believe the dollar will strengthen, then that might be a temporary blip. Loans are hard to come by, so the market favors cash buyers.

[Jazzman]

[quote=flyer]What we love most about both HI and France is the atmosphere–so conducive to creativity. Although my wife is an exec in the film business, she also writes screenplays, and has done some of her best work in these locations.

We love surrounding ourselves with creative people, and have met some amazing souls in both HI and France.[/quote]
Both these places do seem to attract creative types, and are not really the rural backwaters some seem to think. We’ve met a very cosmopolitan mix, with many sharing the same idea of splitting time between two places. Life never gets dull.

[UCGal]

Nice digs, Jazzman. Congrats.

I was also wondering about the visa thing. Do you have dual citizenship? We’ve considered buying a place in Italy… which is made easier by the dual citizenship thing that my DH and sons have.

[Author]

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