The Coldwell Banker La Costa Realty August 2010 Newsletter

Aug. 2, 2010 - PRLog -- Coldwell Banker La Costa Realty
Calle Ancla at the Malecon, Marina Vallarta
Call Toll Free 866-978-8060 / Local phone: 52-322 223-0055
Contact Us

 
We've moved!

After spending some 18 years in our original Mismaloya Highway location on the South Side of PV, we have now consolidated both our old South Side office and our newer Marina Vallarta Office into the Marina Vallarta Office. If you have not been to the Marina Office, you can find it at Calle Ancla #24 at the corner of the condominiums Las Palmas II and the Marina Malecon. Our phone numbers will be the same 322 224 0055 and 322 221 1122. Our decision to make this move was a simple business one which had mostly to do with the fact that the demographics of the South Side area have changed radically, especially over the past 6 to 7 years and amount of traffic on the highway is simply not as conducive to people visiting us as it was years ago. We feel that our Marina Location is strategically centralized and will allow us to not only to deliver the same high level of service to our customers on the South Side of Vallarta as well as to those on the North Side of the Bay as well. Over-all the move is already making a lot of sense for us and our customers!


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ANNOUNCING! ... NIMA BAY CONDOMINIUMS AND SHOPS!

We are excited to announce that COLDWELL BANKER La Costa has just been appointed the Exclusive Broker for the Sales and Marketing of the gorgeous new NIMA BAY CONDOMINIUMS AND SHOPS in Marina Vallarta!

It has been 15 years since we have seen any new residential offerings facing the Marina Vallarta and the addition of this strikingly contemporary architecture is starting to capture a tremendous amount of attention.

NIMA BAY is the latest addition to the outstanding architectural and development portfolio of Central Arquitectura from Mexico City. Central Arquitectura have been developing significant retail and residential properties in the most prestigious neighborhoods of Mexico City for many years in addition to resort residential development projects in Playa del Carmen, Ensenada and now with NIMA BAY, Puerto Vallarta.

NIMA BAY (which is Tibetan for Sun) is located right at the entry to Marina Vallarta. Each residence offers spectacular Marina views from the great rooms and Marina Vallarta Golf Course views from the bedrooms! The property features 28 high-end individual retail shops (for lease only to well qualified tenants). Starbucks has just opened and has been an instant ‘hit’ with the entire Marina Vallarta community. Benito’s’ has been open for some time offering an eclectic mix of light Mediterranean cuisine and the Sonora Grill Steakhouse is in the midst of their build-out right now. Of course - NIMA BAY has underground parking, a full-featured fitness center with spinning studio and large spa area, two oversized swimming pools (one for adults wanting to do long laps and the other for families), a large landscaped sun terrace with bar and light food fare – and 217 beautifully designed residential condominium dwellings all surrounded by beautiful landscaping. Phase I consisting of 145 units will be delivering keys and deeds this December and Phase II will be starting shortly thereafter.

Price points start in the high $300’s for this high-energy residential property, so please be sure to contact your COLDWELL BANKER La Costa agent for full details on how you can find out more about this outstanding property or you can visit the property on-line here!

Market Trends

Recent sales activity suggests that our real buyers seem to be reverting to pattern that we used to experience in this market prior to the boom and bust years since 2004. What this pattern looks like is that in the ‘high season’ we experience a tremendous amount of showings but very low rates of purchase relative to the volume of showings; and our ‘low season’ is a reversal of the trend. It seems that a lot of those people that were looking in the ‘high season’ are returning to actually buy feeling that they may be able to negotiate a much better deal given the fact that there are fewer people looking at properties. The feeling is – and maybe rightly so – that the sellers may be somewhat disheartened by not having received any offers on their properties in the past season and that they may now be much more willing to negotiate price!

This trend may also be gaining some tailwind from the improving global economies especially Mexico! At the same time, we have seen a significant change in the demographics currently driving this market. Whereas prior to 18 months ago our dominant buyer was from the Western side of the US with perhaps the Canadian and Mexican buyer making up a total of 20% to 25% of the market, that role has almost reversed itself to the extent that the US buyer is now making up about 1/3 of the market and the other 2/3 is Canadian and Mexican – with a bias towards the Mexican buyer. This stands to reason when one considers that the strength of the Canadian and Mexican economies. Certainly in terms of their housing markets which have traditionally been mostly cash or at least relatively low loan to value mortgage commitments.

The good news for buyers is that we are seeing some prices off by as much as 25% in some cases from their highs of 12 to 18 months ago. While our market experienced a pretty good run through 2008 we see a leveling off at these new price points for the foreseeable 12 to 18 months. As this process works itself out, those buyers willing to move quickly as special opportunities arise are often first to be rewarded.

Community Events

NIMA BAY - On the first Wednesday of every month, starting this coming August 4th, Nima Bay will be sponsoring different cultural events for our owners and the local Puerto Vallarta community on the terrace facing the Marina. If you happen to be in town, please circle the date for an evening of gourmet hor'doevres, fine wine and scintillating entertainment from the musical group ‘Ritmos del Mundo’ starting at 7PM. At the same time, we will also be taking a small $50 Peso donation ‘at the door’ the proceeds of which will go to a deserving local charity.

NEW AIRLIFT – Starting on November 12 Alaska Airlines has announce the addition of direct non-stop flights to and from San Diego, CA (finally)! This adds to the latest addition of Frontier Airlines recent addition of direct fights starting in December out of St. Louis.


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Coldwell Banker La Costa Realty with 24 years of leadership in the marketing & selling of prime Puerto Vallarta area properties, we are constantly striving to deliver beyond our customers expectations - in English and in Spanish!