Condo.com Blog

Viceory Mayakoba Riviera Maya

Wed, 21 May 2008 20:24:37 GMT

VICEROY MAYAKOBA
Playa del Carmen, Mexico

Key Project Info

Price range: $850,000 - $7,000,000
Square feet: 480 - 9588
Phase: Construction
Unit type: Condominium
Number of bedrooms: Studio, 1, 2, 4, 5
Number of units: 164
Architect: Legorreta + Legorreta
Developer: OHL Group

The history and spirit of Mexico meets luxurious living at the Viceroy Mayakoba, found in the Riviera Maya region, just minutes from the Playa Del Carmen. Set amidst this beautiful natural treasure is the modernly-appointed Viceroy Mayakoba. Combining resort-style living with breathtaking natural scenery, these residences feature contemporary furnishings with the timeless beauty of the Riviera Maya.

Amenities

All glass doors overlooking patios and the ocean
Central air conditioning
Choose from studio, one, two, four and five-bedroom villas
Direct access to the beach and the beach club
Elegant gourmet kitchen
Fine dining restaurants
Fitness center
Full-scale spa
Indoor and outdoor dining
Indoor and outdoor showers
Lockable owner storage
Plasma televisions
Premium appliances
Private Infinity-Edge pools
State-of-the-art electronics and technology

Dubbed "Mexico's next sensational destination", the Riviera Maya conjures up visions of spectacular views and a jungle paradise. Combining luxury and glamour with this natural beauty is the Viceroy Mayakoba. This is the premier resort of a 1,600 acre master-planned community. In this ancient paradise. The Viceroy Mayakoba will feature plunge pools, a full-scale spa, restaurants, lounges, beach clubs and so much more.

http://www.procorprealestate.com/newsite08/propiedades/myakoba/index.php

TOLL FREE

866.331.4022 USA

866.374.1919 Canada

The Gallery, Salcedo Village, Makati City

Wed, 21 May 2008 19:24:43 GMT

Although we cater to sellers and buyers of different properties in Metro Manila and its suburbs, we concentrate in project selling for Polar Mines Realty Ventures. We also sell for Crown Asia and Brittany Corporation and Ayala properties. Why for Polar Mines? Well, maybe its because of the people behind them :-)

Here's one of their recent projects for sale. Actually, both Polar Mines and Crown Asia sell this project, it's on a very good location and the prices are friendly. This is the best time to invest in a Makati condo, while it's still on its pre-selling stage and prices have not risen yet.

So here it is...

THE GALLERY

A New Makati Landmark The Gallery is a new 32-storey condominium project of Crown Asia, located at LP Leviste St., Salcedo Village, Makati, Metro Manila.

Villar-led property developer Vista Land & Lifescapes Inc. is eyeing to generate P1.8 billion from its fifth high-rise residential condominium project in Makati City, which will be undertaken by its subsidiary Crown Asia.

Called The Gallery, the 32-storey condominium will house condo units priced from P2.3 million to P5 million each. It is located along Leviste Street in Salcedo Village.

Project construction was started this month and would be completed in November 2011. The Gallery marks Crown Asia's first entry into the high-end market following its affiliate Brittany Corporation, which launched its first upscale condominium called Mosaic at Greenbelt last year.

Deliberately nestled in the heart of Makati central business discrict, The Gallery is located along L.P Leviste St., in the posh Salcedo Village. With vacancy of over 200 units , The Gallery offer its residents first-class
amenities that include state-of-the-art gym, pool , function rooms, and even a home theater for those who want to kick back and relax with their favorite movie after a long day of work.

State-of-the-art gym
Pool
Function Rooms
Home Theater
Ground floor coffee shops and commercial outlets

- 1 - Bedroom (Standard, Deluxe)
- 2 - Bedroom
- 3 - Bedroom (only 4 Penthouse units)
Choose from the following units:

1 - Bedroom Standard
P2.322M or approx. $57,000, 27.20 sq.m or 292.67 sqft.

1 - Bedroom De Luxe
P2.685M or approx. $66,000, 31.96 sq.m. or 343.89 sqft.

1 - Bedroom Premiere
P2.809M or approx. $69,000, 31.65 sq.m. or 340.55 sqft.

2 - Bedroom Prime
P5.004M or approx. $123,000, 51.13sq.m. or 550.16 sqft.

2 - Bedroom Grande
P7.361M or approx. $182,000 , 75.22 sq. m. or 809.37 sqft.

3 - Bedroom (26th to 29th floor, and Penthouse only)

3 - Bedroom Premiere
P9.635M or approx. $238,000, 97.3 sq. m. or 1046.95 sqft.

3 - Bedroom De Luxe
P9.745M or approx. $241,000 , 99.58 sq.m. or 1071.48 sqft.

3 - Bedroom Executive
P10.025M or approx. $248,000, 101.24 sq. m. or 1089.34 sqft.

3 - Bedroom Penthouse
P14.082M to P14.565M or approx. $348,000 to $360,000
Units range from P2.3 million to P14.565 million Note: Prices subject to change without prior notice.
Reservation Fee:
- P25,000 for 1-Bedroom
- P50,000 for 2-Bedrooms
OPTION 1:
- 40% payable 48 months 0 interest
- 60% upon turn over or Financing (Bank In-house Financing)
OPTION 2:
- 10% Down Payment
- 30% Monthly Amortization for 48 months
- 60% Bank- or In-House Financing - up to 20 years
As low as P9,999 per month!

Technorati Profile

The Esplanade - Hawaii Kai Real Estate Opportunities

Wed, 21 May 2008 17:28:57 GMT

Completed in 1973, the Esplanade in Hawaii Kai, East Oahu, is a resort-like low-rise complex with 51 1-bedroom apartments, 135 2-bedrooms and 22 3-bedroom units. Wonderful amenities include very large swimming pool, whirlpool, tennis courts, barbecue grills, exercise room, putting green, golf driving net, recreation deck, saunas and private marina with boat docks available. Sales in this complex also were brisk in 2007, as 18 resales occurred. Prices ranged from $343,000 for a 1-bedroom to $545,000 for the largest 2-bedroom unit.

Visit my Hawaii Kai real estate market analysis page on my web site for full details: http://www.movetohawaiikai.com/Hawaii_Kai_Market_News/page_1893904.html

The Honolulu Board of Realtors issues very complete statistics for monthly sales on Oahu. Contact me for a free copy:

barbara@barbarashawaii.com
808-226-2537

Miami Real Estate - Investor

Wed, 21 May 2008 15:53:08 GMT

Investor Report: Miami-Dade County
by Kenneth R. Harney

Every real estate investor knows the old saying: "Buy when there's blood in the streets."

Well that's what's going on right now in the Miami-Dade county condominium market, according to Jack McCabe, one of South Florida's most active consultants to hedge funds, "vulture funds" and other investors looking to pick up properties at 35 to 50 percent discounts off previous asking prices. It's no secret that Miami-Dade has the country's most crushing glut of unsold, unoccupied condo projects, with 25,000 sitting for sale -- a five year supply at current purchase rates -- plus another 19,000 units at some stage of approval or construction.

But McCabe, who is CEO of McCabe Research in Deerfield Beach, warns that getting great deals is not as easy as you might imagine. Many condominium projects are tied up in litigation, which can complicate the ability of unit owners or developers to close deals. Plus financing is getting very tough. Most banks have lists of local projects where they won't lend under any circumstances, and private mortgage insurers have bailed out of Miami-Dade like it's a toxic wasteland. So "cash is king," says McCabe. High leverage is out, because you can't find high-leverage loans. If you want to pick up units at half the previous price, he says, be prepared to belly up to the bar with 40 or 50 percent equity.

Better yet: Buy in bulk. Join forces with other investors to pool funds to pick up packages of distressed units from developers and banks who want to unload REO holdings quickly. "Due diligence" in all this is crucial. You've got to know the project, the developer, the unit owners and condo association situations in depth -- and the competition on the market -- to avoid costly mistakes. For example, McCabe has seen bargain-hunting investors pay $400,000 apiece for units and think they got a steal. Then a few weeks later they discover that the developer sold a big package of comparable units in the project for $250,000 apiece, putting the $400,000 buyers deep in a hole they never saw.

Buying real estate is not the only opportunity in hard-hit Miami, by the way. Some smart investors are focusing solely on what they call "distressed debt" -- they buy the underlying mortgages of condo units at deep discounts from banks. Then they try to work with unit owners to recast the loans into more affordable terms that keep the payments flowing, keep the owners in their units, and turn "nonperforming" mortgages into outstanding long-term investments.

It's all about seeing the opportunities, says McCabe. And playing the condo game with your eyes wide open.

Published: May 2, 2008

Canadian Gold Rush

Wed, 21 May 2008 15:48:48 GMT

By Jay Barker

It’s no secret the Canadian condo market is riding record highs in both number of new sales and price per square foot paid for the latest new construction in places like Vancouver, BC.

Just how amazing sales are though is surpassing even the local experts expectations. Bob Rennie, whose company Rennie Marketing Systems boast condo sales of 1.5B in the past 10 years was once jokingly quoted as saying that Vancouver condos would sell at $2010 per square foot by the year 2010. The reality is - been there done that!

For example, let’s say you want to purchase one of the 123 units in the new Ritz-Carlton condo-hotel scheduled to be completed in 2011. Fine, but you’ll need to hurry and you’ll need to beef up your bank account quick too - because 60% of the units are already sold, and at $2300 a square foot you’ll need to make out a check for $2.3M for a 1000 square foot unit.

More amazing stats - of the 2743 condominiums ready for move in this year, close to 90% are already sold. Moreover, 98% of the 2,925 units ready for 2009 are locked up, and 83% of the 714 units - well you get the idea.

There are certainly a number of other desirable locations around the globe but right now there’s no doubt the condo gold rush is in Canada.

To read additional stories about international condos, architecture, design and urbanity visit CondoCrush.com Jay Barker is a Realtor in Phoenix Arizona specializing in urban condo living, and is founder of CondoCrush.com, a condo lifestyle "blogazine."

Introducing personal concierge services by vanessa cole and procorp!!!!!!

Wed, 21 May 2008 15:27:50 GMT

ProCorp Personal Concierge Services

At ProCorp, we pledge to give you the most exclusive attention that you deserve! Our team of sales and finance professionals strive to make each interaction with our clients the most fun, most relaxing, and most informative experience possible. This is why we’ve created a unique service to further give our clients the full VIP treatment!

We know how difficult it can be to moving to a new country or even just planning a vacation. Purchasing your new vacation home doesn’t just end with signing the papers and transferring funds; your new home needs to be furnished, decorated and cleaned, you need to find out about local schools and bus routes, and general activities in your new location. Why not let us worry about that and help you lessen the stress of buying a new home?

Wouldn’t it be fantastic if after your purchase you could walk into your beautiful new beachfront home fully furnished and decorated the way you like? What if you or your guests came on vacation and opened the door to a fully stocked fridge and a welcome home basket waiting for you on your kitchen counter?

We offer a range of services from condo and vacation administration, airport pick-up, food shopping, furniture purchases, interior decorating, personal chef / catering services, gift baskets and flowers.

We can even help with decorations or shopping for that special occasion like your honeymoon or proposal. Worried about workmen going to your home when you’re not able to be there? We can have our concierge go to your home and supervise.

Are you a corporation sending an employee as a perk or an important client as a thank you? Let us help you plan their stay with car/limo rentals, activity planning, and of course even real estate investment presentations!

PROCORP CONCIERGE SERVICES... THE AGENCY WITH THAT LITTLE SOMETHING EXTRA!!!!!
Contact us for more information!
by mail - vanessa@procorpagent.com / www.procorprealestate.com
by phone toll free - Canada 1-866-331-4022
- USA 1-866-374-1919

What A SHOW!

Wed, 21 May 2008 14:49:01 GMT

The biggest real estate trade show of the year is over and CONDO.COM is a HIT! Developers and lenders we met with are eager to learn how CONDO.COM can help them increase sales and profitability on their projects. Many new listings and transactions will be generated from this trade show. The market is active and exciting. I am heading home today and look forward to getting started on working with all of our new clients and contacts.

Dominican Republic Developer Closes Almost $100 Million in Sales in One Day

Tue, 20 May 2008 20:38:30 GMT

Downward Economy? Not for Residential Resort Costa Blanca by Group Metro

(May 5, 2008-Miami, FL)- Last weekend, Costa Blanca - the billion-dollar project of renowned Dominican Republic developers Group Metro, held their launch event with two days of spectacular celebrations in Santo Domingo and Juan Dolio. The project was received by the Dominican Republic and international press with great enthusiasm and unquestionable success.

Costa Blanca, an impressive undertaking that will span across 300 acres of land and coastline in Juan Dolio, will encompass a mega-yacht marina, marina village with retail and commercial space, ten condominium towers, 52 private villas, a tennis village, clubhouses for both tennis and golf, a secured, private beach, and the first signature Greg Norman PGA golf course in the country. The highly-anticipated development will set new standards of luxury in the area, and will bring forth a modern spin on private, high-end communities. With top architects and designers at the helm, residents will find villas with open-air spacing to showcase their wrap-around pools, condos where each and every owner is afforded unobstructed water-front views, and an assurance that every aspect and step of the project is environmentally sound and positively affects the region.

The weekend began with a press conference at the historic Embajador Hotel in Santo Domingo with Greg Norman, legendary golf icon, Steven Ankrom, Vice-President of Sales for Costa Blanca and Doctor Luis Jose Asilis, CEO of Group Metro. Greg Norman, “The Great White Shark,” whose namesake and expertise is behind this ground-breaking course, greeted the press and spoke of his excitement and great faith in Costa Blanca. “Golf has shown tremendous growth in this part of the world and I am very glad to be a part of this absolutely magnificent project,” stated Mr. Norman before congratulating Dr. Asilis. Mr. Norman also commented on the current state of the economy and how it related to Costa Blanca, “ In many ways, golf and golf course design are economic indicators; we’ve seen it slow in the United States , but not in the rest of the world. New projects must have amenities that capture the imagination of everyone, and that is exactly what is taking place here.” Executives of Costa Blanca who are thrilled and excited to create “the first luxury, high-end golf project on the ocean in Juan Dolio,” spoke of the numerous economic advantages and various job opportunities Costa Blanca will create for locals of the Dominican Republic. When asked about his vision for Costa Blanca, Mr. Greg Norman answered, “First, you look at the ‘least-disturbance approach’, which works perfectly with this development. Our duty is to build the best golf course we can, in the best way, with the best value. It’s not very often that we get the opportunity to build directly on the ocean. From a golfing perspective, when we have the ability to put nine holes on the ocean, it is a very unique opportunity.”

After the press conference, Mr. Norman entered the grand ballroom, where the glittering launch gala was already underway with VIP’s and press excited to learn of the project’s details. Complete with a five-piece string quartet, Costa Blanca lounges, and a white décor theme to showcase the beach atmosphere and luxury of the project’s design, the grand event introduced 1000 of the Dominican Republic’s VIPs and tastemakers to Costa Blanca. Greg Norman made a presentation to the audience and re-visited his excitement over the “amazing transformation that will take place over the next eighteen months.”

The following day, the Founder’s Club - made up of 52 elite individuals who secured reservations as the very first buyers at Costa Blanca, gathered at the invitation-only Founder’s Club Reunion. These members had an early invitation to reserve a spectacular one-time package that included a private villa, two condominiums, a slip in the marina, golf membership for life, and private access to The Lighthouse Lounge and Clubhouse. The event took place onsite in beautiful outdoor tents and allowed the Founders to drink and relax while they surveyed the plots of land that would become the site for their private villas. In a unique and exciting format, Founders were able to choose the individual piece of land for their villa, as well as the condo units they desired, according to the order in which their reservation was received. With law firms onsite to advise and offer guidance, Costa Blanca closed almost $100 million dollars in sales on Saturday alone. Members of the Founder’s Club congratulated each other and toasted their new neighbors with champagne and cigars.

With the immense success of their opening weekend and almost $100 million dollars closed in sales, Costa Blanca has proven that the real-estate market is still thriving and that the Dominican Republic is one of today’s hottest investments.

For information, please visit www.costablanca.com.do or call their sales office at 809-526-1200
Media inquiries, please call Kia Zalewski at 305-572-9883 x 306 or kia@americasmediagroup.com

University Inn Condominium

Tue, 20 May 2008 13:53:53 GMT

The University Inn condominium is located at 1280 S Alhambra Circle in the "City Beautiful" - Coral Gables. University Inn Condo in the Gables offers 1 and 2 bedroom units perfect for University of Miami students and residents living in the area. In the heart of Coral Gables just steps away from the University, fine restaurants and boutiques South Florida has to offer.

More than 15,400 undergraduate and graduate students from around the world call UM home during the academic semesters. The University was chartered in 1925 by a group of citizens who felt an institution of higher learning was needed for the development of their young and growing community.

About University Inn Condo

Year Built: 1990
Number of Floors: 4
Number of units: 146
Sq. Ft. range: 620 or 840 or 910
Beds: 1-2Baths: 1-2
University Inn Condominium Amenities:- Gated- Assigned Parking- Pool- Jacuzzi- Clubhouse- Close to U.M. - 5 Mins- Centrally located

Miami Condos

Tue, 20 May 2008 03:59:37 GMT

Daily Real Estate News | May 19, 2008
Advice for Anyone Facing Foreclosure

Jacob Benaroya, president and managing partner of Biltmore Capital Group, which purchases distressed loans from a wide array of lending companies, offers these seven tips for home owners facing foreclosure.

Don’t hide. Open the mail; answer the phone. Respond.
Be proactive. Contact the bank or lending institution and discuss your financial situation.
Know your mortgage rights. Review loan documents so you know what your lender may do if you can't make payments.
Avoid foreclosure prevention companies. Don’t pay money for foreclosure advice..
Contact a HUD-approved housing counselor. The U.S. Department of Housing and Urban Development (HUD) funds free or very low cost housing counseling nationwide. They’ll help you understand the law and your options, organize your finances and represent you in negotiations with your lender if assistance is required.
Prioritize spending. After health care, keeping your home should be your first priority. Review your finances and see what spending can be cut in order to make your mortgage payment. Look for optional expenses - cable TV, memberships, entertainment - that can be eliminated. Delay payments on credit cards and other "unsecured" debt until you have paid your mortgage.
Use other assets. Do you have assets such as a second car, jewelry, a whole life insurance policy-that can be sold to help reinstate the loan? Can anyone in the household bring in additional income?

Source: Biltmore Capital Group (05/16/2008)

Community Banks: Foreclosures

Mon, 19 May 2008 20:47:12 GMT

When a homeowner loses a house to a bank foreclosure, the nightmares are just beginning — for the bank.

Along with assuming the costs of property taxes, insurance, maintenance and security, banks are looking — with little success — for a buyer willing to pay more than a fire sale price.

Even when there’s a chance that the mortgage can still be salvaged, banks are scrambling to find experienced people who know how to work out a payment plan. Some have been lured out of retirement and others hurriedly cross-trained from the now dormant loan originations department.

That’s assuming the homeowner still wants the property. If the owner is a flipper or has abandoned the property, it’s too late.

As their role of reluctant landlord mounts, banks coping with the headaches of looking after rising numbers of foreclosed properties will surely be followed by the heartburn of massive losses banks will endure upon their sale.

Just turning the key to such a home can bring unpleasantness.

“When you open the door to a foreclosed property, the inside may not have anything in it,” said Richard Purdy, senior vice president of asset preservation at Coral Gables-based BankUnited. “We’ve had all the way down to the doorknobs and the bathroom fixtures exit prior to the sale. Counter tops, cabinets, appliances, electrical fixtures, carpets, flooring. I can’t imagine why someone would take the bathtub with them, but it does happen from time to time.”

Banks looking to move their properties are turning to brokers, Web sites, auctions and direct marketing, among other avenues, just hoping to get out from under the mounting inventory.

No one knows how bad it’s ultimately going to get.

Community banks have never been ground zero for the mortgage crisis — larger banks and nonbank lenders have borne the brunt of it — and 52 of South Florida’s 79 community banks reported no foreclosed property at all in 2007.

Those that did, however, have been hit hard.

BankUnited, the region’s largest community bank, reported nearly $47 million in foreclosed real estate at the end of 2007, compared to only $413,000 the previous year.

Fort Lauderdale’s BankAtlantic’s $17.2 million in foreclosed real estate is actually down from $21.7 million in 2006 but, in a precursor of further problems, reported nearly $180 million in non-performing loans last year.

By dollar value of foreclosed property, Mercantil Commercebank ($9.8 million); City National Bank of Florida ($7.1 million) and The International Bank of Miami ($6.5 million) round out the top five of South Florida banks. The latter two institutions reported no foreclosed property at all in 2006.

Richard Swerdlow, founder and chief executive of Condo.com, an online clearinghouse for condominium projects that boasts 500,000 listings, said lenders to troubled condo projects want to see if the contracts are actually going to close and how many people are going to walk away from their deposits. “Then they’ll know, ‘Look, we’ve got a problem on our hands so let’s not continue to extend the loan to the developer, let’s actually foreclose and take the assets back.’ ”

Swerdlow said the main issue is at what point the banks realize that they need to take a big discount on their assets so that they can start selling them effectively.

“The banks have not yet agreed to accept the losses,” he said. “There is still a very big gap between the bid and the ask, between the banks and the vulture funds trying to come in to buy the assets.”

Hoping to mitigate such problems, community banks facing nonperforming home loans are contacting mortgage holders, checking up on them to head off problems early. News of a lost job or an illness could signal a call to action for the lender.

“Even if you can make payment in April and May, you may not be able to make in June and certainly not in July,” said Ken Thomas, an independent banking consultant based in Miami. “Why wait until August when it’s 30 days past due?”

The approach banks are taking depends largely on the institution’s size and reach.

“Usually, the very, very big banks will put these distressed loans together and sell them as a package,” Thomas said. “The big banks, they don’t have time to go through them one by one, so they just drop them in a bucket and get rid of them on a wholesale basis. They clean up their problem and loans, and it looks better for Wall Street.”

Thomas said community banks — instead of moving properties from the top down on a wholesale basis — are going from the bottom up and looking at individual properties, taking a house-by-house approach.

He said another problem facing banks is that they have gotten involved in troubled loans in distant markets.

“Look at the banks like Corus Bank in Chicago and Fremont Bank in California that have loans down here,” Thomas said. “They don’t know which condos are doing better than others. They’re just putting them together in wholesale packages and getting rid of them.”

If there is any opportunity to avoid a foreclosure, a bank — and especially a community bank — has got to pursue it, Thomas said. “It not only saves the bank from a problem loan, a write-off of capital, but the likelihood is that the loan is not by itself. The bank might have other loans nearby. One foreclosure could affect surrounding property values and hurt the entire portfolio. That’s why we encourage banks to work these out one by one, even before they see problems.”

BankUnited’s Purdy said that each part of the country has its own sales rhythm and, if the bank has properties in more than one state, it’s difficult to know how long it will take the bank to move all of its foreclosed properties off the books.

Meanwhile, the vulture funds are circling patiently.

“Every other guy has a fund, but what are you going to buy? The assets aren’t available,” Swerdlow said. “The only way to buy those assets is that you’ve got to deal with the senior lender. You’ve got to wait until the bank controls it.”

Until the banks can see the full-extent of the damage, “they’re not ready to face that day of reckoning and sell for 25 cents on the dollar,” he said. “In the next six months, we’re going to see a closing of the gap between the bid and the ask on these projects.”

As Taken From The Daily Business Review

My First Week at Condo.com

Mon, 19 May 2008 16:28:06 GMT

To say that my wealth management internship last summer was difficult for me would be quite the falsity. For the first time in my professional life, I am actually being challenged (and in doing so, I am learning a ton!).

As it turns out, I will be spending most of my time here at Condo.com with Jim Fried, a prominent Real Estate professional within the Florida market. Jim is the President of Sandstone Realty Advisors (a Real Estate investment banking boutique firm based out of Miami, FL), and is currently working with Condo.com to take advantage of emerging opportunities within the global condo market.

During my first week, my primary task was to create a database including foreclosure defense attorneys, finance/banking/RE professionals, and Condo developers within the US condo market. Using both this database and his existing contacts, Jim plans on contacting everyone that he can in regards to Condo.com and its services. In obtaining this database information, I persistently dug through newspaper foreclosure listings, Real Estate magazines, and internet websites to give Jim the most comprehensive and effective list possible. As I continue to come across new contacts in the weeks to come, I plan on adding them accordingly.

In addition to this contact database, other tasks I was given last week include the beta testing of a cloned Condo.com site (for errors), the creation of this blog, and the creation of Jim’s sales kit for the Las Vegas ICSC. As all of this was taking place, I constantly took notes as Jim began contacting industry professionals to generate Condo.com business.

Next week, I will be traveling to a residential development grand opening in Cancun, Mexico as a representative of Condo.com. Feel free to stop by again to see how it goes!

ICSC GETS GOING

Mon, 19 May 2008 14:28:04 GMT

Arrived in Vegas for ICSC and the place is hopping. Lots of US and international folks looking to do deals. While the retail sector is cooling like all others...everyone wants to talk condos. We will have lots of meetings with owners and developers seeking to market their projects...should be a great day.

Having a Hard Time Finding Funding For Your LARGE COMMERCIAL PROJECTS?

Sun, 18 May 2008 17:40:49 GMT

Here are some of the requirements of the 100% loans:

20 Million min. amount with no max.

Acquisitions and or developments

Domestic or International

General Terms of Funding are:

The platform will take 30% IV position in the project

No MTG, NO Debt Repay, No Debt Service, No liens

Projects with weak, unclear or underdeveloped proposals are unlikely to receive an invitation for full project funding.

90 day LIBOR + 1.5 currently 4.49% (rates are subject to change daily) on a 5 yr note! If note is paid on time for 5 yrs the note can be extended another 5 yrs! Get you deals in before the hedge fund closes!!

If you have any questions please call me 414-241-3100 or e-mail brynn@a-newmortgage.

Are You Having a Hard Time Finding Funding For Your LARGE COMMERCIAL PROJECTS?

Sun, 18 May 2008 17:37:58 GMT

Here are some of the requirements of the 100% loans:

20 Million min. amount with no max.

Acquisitions and or developments

Domestic or International

General Terms of Funding:

The platform will take 30% IV position in the project

No MTG, NO Debt Repay, No Debt Service, No liens

Projects with weak, unclear or underdeveloped proposals are unlikely to receive an invitation for full project funding.

90 day LIBOR + 1.5 currently 4.49% (rates are subject to change daily) on a 5 yr note! If note is paid on time for 5 yrs the note can be extended another 5 yrs! Get you deals in before the hedge fund closes!!

If you have any questions please call me 414-241-3100 or e-mail brynn@a-newmortgage.

ON TO THE ICSC IN VEGAS

Sat, 17 May 2008 16:22:35 GMT

Every year for the past 10 years I have attended the International Council of Shopping Centers national show in Las Vegas. This year will be my most escuting and anticipated show ever!

I will be attending as the Director of Institutional Services for Condo.com. and have something to say that no one else at the show can say…I represent the world's most visited site for folks seeking to buy,sell or rent condos – WORLDWIDE.

The show’s main focus is on retail, but as we all know, retail developers have shifted focus over the last few years to have their projects include other property types such as residential condos.

I will be one of the few at the show seeking to make deals for condos and we can really help these developers generate leads and close them. We can sell the units individually or in bulk.

As the retail developers and their partners struggle with their residential components condo.com can bring our 50+ combine years of expert marketing savvy and proprietary buyer list to the table to move product.

So as I pack my bags I eagerly anticipate a very successful convention.

Retirement in Puerto Vallarta--Condominium or Villa?

Sat, 17 May 2008 14:05:16 GMT

By: Jim Scherrer

Invariably, when North Americans visit Puerto Vallarta, Mexico, they have such a good time under absolutely ideal conditions that they hate to leave. Upon returning home, many start planning their next trip to Vallarta and can only dream about retiring here someday. The fortunate ones, either currently retired or about to retire, often start thinking about how they can own a piece of Paradise and spend at least a part of their retirement in Vallarta.

Many visitors interested in pursuing the idea of retiring in Vallarta will rent a condominium during their first extended stay, and while doing so, will experience all the benefits Vallarta has to offer, and will explore the market for condos and/or villas. Once they have determined that Vallarta will be their full time or part time retirement destination, they are ready to start considering which is most appropriate for them, a condo or villa.

There are certain aspects of condo and villa ownership that are constant; for seven months from November through May, the climate will be ideal, there will be numerous activities to enjoy and an abundance of friends to enjoy them with, and every condo or villa will have a panoramic, breathtaking view of the Banderas Bay and the Sierra Madre mountains.

The following discussion is to address the differences between condo and villa ownership.

The first variable that most consider is the percentage of time expected to be spent in Vallarta each year. For those planning full retirement in Paradise, a villa with staff might be the best choice; association fees are minimal, there are no neighbors or renters upstairs, value appreciation is most favorable, furniture and personal items can be shipped into Mexico making living conditions more similar to back home, and most importantly, the old house in the US or Canada can be liquidated, thus freeing up the capital for retirement and travel.

Those planning part time residency in PV might favor condo ownership; they will be close to many of the restaurants, shopping areas, and activities, they will be able to turn the key and forget about it at the end of the “high season”, they will have an opportunity to generate rental income while away, their maintenance expenses will be minimal, and they will retain their permanent family residence back home.

The second variable to consider would be the number of friends & family that might be expected to visit each year. When you live in Paradise, you’ll be amazed at how many “dear friends” you had back home! Of course, the smaller the condo, the fewer “dear friends” you’ll have. Whereas, if you own a grand villa, you’ll have more “dear friends” than you ever knew you had.

The third variable has to do with the age and health of the retiree. A younger retiree might favor a villa where he can call it home, living there as he would in any permanent residence, without having that temporary or transient feeling. Also, since most of the villas are located on the mountainside, they are usually multi-story and involve stairs, thus presenting obstacles for those less fit. Maintenance of a villa requires much more time, effort, and money and therefore, to many of the older or less healthy retirees, it alone might rule out villa ownership. Typically, the older retirees find the advantages of condo life outnumber those of villa ownership, whereas the younger retirees with many healthy years ahead of them prefer villa ownership.

Due to the ever increasing cost of land, as a “rule of thumb”, you can use an average cost per square foot for a villa of $250, whereas the average cost for a condo would be a little less, at $200 per square foot. Of course, there are many properties in Vallarta that sell for substantially less, however, we’re only considering those with magnificent views and all of the modern amenities. On the surface, these prices may seem high; however, similar properties with comparable views would be two to three times as much in the States. Furthermore, association fees are much less and property taxes are negligible in Mexico.

An additional consideration that every retiree must have relates to real estate future values. In Mexico in general, and in Puerto Vallarta specifically, there is no housing slump or fear of recession, as prices continue to escalate at a rate of 10% or more per year.

All properties, whether condos or villas, are purchased through 50 year trusts, held by a designated bank. These trusts give the holder exclusive right to property usage for 50 years and can be renewed after 50 years, can be given to a designated beneficiary upon death and then renewed for another 50 years, or can be sold, allowing the buyer to renew the trust for new 50 year term. These bank trusts are as safe as the title and deed used in the States or Canada; plus, since they are Mexican bank trusts, they are virtually untouchable by any outside entity.

Since all real estate legal transactions in Mexico are done in Spanish, it is imperative that the buyer is represented by a qualified attorney. Also, much of the Mexican coastal land is classified as ejido land, and as such, was designated by the Mexican government many years ago to be used by the natives as farm land. North Americans are unable to purchase some of this beautiful coastal land and therefore, any North American retiree considering real estate ownership in the Vallarta area, must have competent representation to assure them that the land is appropriate for foreign ownership.

Due to the differences in laws and language, an exclusive buyer’s agent is a prerequisite in order to avoid the potential pitfalls associated with real estate purchases in Mexico. Having a truly professional agent with 100% buyer dedication and loyalty will assure you a safe and pleasant real estate purchase, regardless of whether you’re buying a condo or villa in Paradise.

Jim Scherrer has owned property in Puerto Vallarta, Mexico for 24 years and resided in PV for the past ten years. The mission of his series of 38 articles pertaining to retirement in Puerto Vallarta is to reveal the recent changes that have occurred in Vallarta while dispelling the misconceptions about living conditions in Mexico. For the full series of articles regarding travel to and retirement in Vallarta as well as pertinent Puerto Vallarta links, please visit us at Puerto Vallarta Real Estate Buyers’ Agents and click on ARTICLES.

The Importance of an Exclusive Buyer's Agent in Mexico

Sat, 17 May 2008 13:58:56 GMT

By: Jim Scherrer

As we all approach retirement, we often dream of someday owning a piece of Paradise, somewhere in Florida, Arizona, Hawaii, or even Puerto Vallarta; someplace with a climate conducive to kicking back and enjoying life to its fullest, year round.

To more than 50,000 retirees, Puerto Vallarta, located on the Mexican Riviera along the Pacific Ocean at the same latitude as Hawaii but six hours closer and with a lower cost of living, has been selected as their primary or part time retirement destination. Unlike the arid zones of Arizona, magnificent ocean views are available everywhere in Vallarta. Unlike the flat land and low elevations throughout Florida, the Sierra Madres provide the back drop to all of the Vallarta area providing a beautiful array of tropical flora and fauna.

The city of Puerto Vallarta lies on the innermost part of the 25 mile diameter Banderas Bay. The total land perimeter of the bay is approximately 60 miles, however only about 40 miles of shoreline is available for foreign ownership. This available land extends from Mismaloya, 10 miles south of Vallarta, to 25 miles north of Vallarta near Punta Mita in the state of Nayarit. An additional stretch of Pacific Ocean shoreline extends about 15 miles north of Punta Mita with certain portions available for foreign ownership, thus providing the total Greater Puerto Vallarta area roughly 55 miles of beachfront property.

With Greater Vallarta´s large area of magnificent land, its climate similar to that of Hawaii, and a pro-growth Mexican government with many new investment incentives, the area has virtually exploded with new residential construction and consequently, with new real estate agencies. Aside from re-sales, these listing agencies are currently marketing in excess of 100 new condominium complexes containing more than 7,000 new condominiums under various phases of construction. An additional 20,000 condominiums are in the conceptual or planning stages and are scheduled for construction during the next 15 years.

In order to promote these properties, there are currently over 80 listing agencies serving the area with approximately 500 agents, all having a fiduciary duty to the developers and property sellers. That being said, in order to avoid a conflict of interest, they must pay their dedication and loyalty to those with whom they have contractual agreements and represent; the developers and sellers. Of course, these agents will do everything within their power to sell one of their own listings first, prior to considering the listings of others, in order to satisfy their clients as well as double their own commissions.

Now that we have established that the area in and around Paradise is huge, the quantity of new villas and condos is overwhelming, and 500 listing agents are putting forth their best effort to please their clients, the sellers; certain questions arise. How in the world do visitors to the area go about locating their retirement destination without searching through 80 agencies? What assurances do the prospective buyers have that they are getting exactly what they want, in the location that best suits their objectives, and at the best price available? How, in Mexico where all legal contracts are in Spanish and the laws are somewhat different, can the prospective buyers be assured that they are being treated fairly when the listing agent is representing the developer or seller?

To answer those questions and for numerous other reasons, the use of a buyer's agent is a prerequisite for any foreigner considering the purchase of real estate in Puerto Vallarta. There are a few agencies in the Greater Vallarta area that claim to be buyer's representatives; however most of them also have listings within their agencies. In order for prospective buyers to be absolutely confident that they are receiving 100% loyalty and dedication, they should attempt to employ the services of an agency with absolutely no listings, no biases, and no ulterior motives; one who knows the area well, that has access to all listings, and that has the legal team, property inspectors, appraisers, mortgage bankers, escrow agents, etc. working on the buyer's behalf.

Agents that exclusively represent buyers are quite common in the US and Canada, however they are few and far between in Mexico. Such agents do request signed contracts with the buyers stating that they are acting on the buyer's behalf, however there is generally no charge to the buyer since commissions are shared by the listing agent.

Listed below are some of the benefits associated with using an Exclusive Buyer's Agent in Mexico:

EBA Represents no sellers and has no listings
EBA Avoids dual agency and conflicts of interest
EBA Owes complete fiduciary duty and loyalty to buyer
EBA Maintains buyer information as strictly confidential
EBA Has access to all properties on the market
EBA Is unbiased in showing all properties available
EBA Conducts an objective comparative market analysis
EBA Thoroughly researches property pros and cons
EBA Obtains appropriate inspection reports and appraisals
EBA Strives ethically to gain bargaining advantage for buyer
EBA Negotiates for buyer to optimize purchase agreement
EBA Obtains most favorable legal and financial professionals
EBA Prepares contracts in Spanish with accurate English translations
EBA Works with 100% buyer dedication throughout entire process
EBA Charges the buyer no fees for representation services
EBA Often saves the buyer time, money, and provides peace of mind

In summarizing, the prudent buyer will always locate and use an Exclusive Buyer's Agent when searching for his/her retirement residence in Mexico; where caveat emptor, or buyer beware, is the rule to follow. In so doing, the retiree will be assured a stress free and enjoyable first retirement experience in Paradise.

Jim Scherrer has owned property in Puerto Vallarta, Mexico for 24 years and resided in PV for the past ten years. The mission of his series of 38 articles pertaining to retirement in Puerto Vallarta is to reveal the recent changes that have occurred in Vallarta while dispelling the misconceptions about living conditions in Mexico. For the full series of articles regarding travel to and retirement in Vallarta as well as pertinent Puerto Vallarta links, please visit us at Puerto Vallarta Real Estate Buyers’ Agents and click on ARTICLES.

Kalele Kai in Hawaii Kai - Hawaii Kai Real Estate for the Discriminating Buyer

Fri, 16 May 2008 22:27:51 GMT

Prestigious Kalele Kai, in Hawaii Kai, East Oahu, is a gated luxury community on the marina in the center of Hawaii Kai. . This is a gated luxury community on the marina in the center of Hawaii Kai. There are 227 deluxe 2 and 3 bedroom apartments in three 6-story towers and ten 3/2.5 townhouses on the waterfront. All units have luxury baths, designer kitchens with state-of-the-art appliances and huge lanais providing grand indoor-outdoor living. Amenities include pool, spa, barbecue area and clubhouse. Real estate sales in 2007 ranged from $590,000 for a 2-bedroom to $1,400,000 for the largest 3-bedroom home.

Visit my Hawaii Kai real estate market analysis page on my web site for full details: http://www.movetohawaiikai.com/Hawaii_Kai_Market_News/page_1893904.html

The Honolulu Board of Realtors issues very complete statistics for monthly sales on Oahu. Contact me for a free copy:
barbara@barbarashawaii.com
808-226-2537

Smart People Invest in Mexico

Fri, 16 May 2008 15:29:27 GMT

Dear Reader,

Please take a moment and look at what could be the smartest investment you ever make. In Cancun and the Riviera Maya, the real estate market is now flooded with American and Canadian buyers and investors. For the very first time in this country, foreigners can actually own beachfront property and get US and Canadian financing to assist you with your purchase. Most properties on the market are going up in value on a weekly basis due to supply and demand; there has been nearly a 23% increase since last year.

After the successful development of Cancun, it was only inevitable that the shoreline of the Mexican Caribbean would beckon to international developers. The Riviera Maya is now one of the top vacation destinations in the world due to its accessibility, affordability and diverse beauty.

Here are some of the top reasons to invest in Mexico:

Mexico is located right next to the United States; it has excellent transport links to North and South America, Europe and Asia making it an all round accessible country for tourists and retirees and a country that can forge stronger economic ties with all of the aforementioned regions over the long term.
Mexico has already signed free trade agreements with more countries in the world than any other nation to make the country massively competitive and attractive
The Mexican government is committed to a program of economic growth through sustainable development and improvement which has already made Mexico an attractive investment.
Mexico has already attracted in excess of 16,000 foreign companies to its shores and this has created jobs, and increased the wealth of thousands of local Mexicans which in turn has resulted in increased domestic purchasing power. There is now a strong rental market especially in prime tourist locations which a real estate investor could consider targeting for long term rental income.
The tourism sector already generates around eight percent of Mexico’s GDP, it provides nine percent of all jobs in Mexico, it generated in excess of 8.9 billion annually and is Mexico’s third biggest currency generating activity and is therefore of massive and fundamental importance to the economy of Mexico. As a result the Mexican government is not only keen to further promote it, they are keen to receive foreign in vestment into the tourism sector as well.

With all these factors in mind, real estate investors should consider that Mexico is one of the safest emerging countries with a forward thinking government committed to economic growth and that the real estate market in Mexico is growing built on solid foundations, is affordable and is growing in appeal with housing units in cities and major resort areas massively in demand from both locals and overseas buyers creating the perfect environment for price growth and rental yields.

We here at ProCorp Real Estate Investments would like to invite you to review one of our exclusive property investments at www.cancuntowers.net/tour.php and encourage you to make your next investment with our team of knowledgeable and specialized sales consultants.

Please also review our Fly and Buy Program with Puerto Cancun, where our buyers may come in person to see our properties and receive a reimbursement on their travel expenses.

Thank you for your time,

vanessa cole