The Coldwell Banker La Costa Realty October Newsletter

Oct. 11, 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
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Current Market Up-Date
With some 80% of Mexico’s exports going to the US, continued weak demand is seen as one of prime factors holding the Mexican economy back as cited by a recent poll of economists from 32 private banks and consultancies in Mexico and abroad. At the same time, this same poll sees Mexico’s gross domestic product growing 4.6 percent this year -- unchanged from the August poll. The economy contracted 6.5 percent in 2009 in response to the vacuum of exports to the United States during that time. Mexican Central Bank Governor Agustin Carstens said earlier this month that Mexico's economy will grow between 4.5 percent and 5.0 percent in 2010. The poll showed inflation forecasts rising to 3.84 percent for 2011, up slightly from 3.82 percent in the previous poll.

In a separate report, the central bank said migrant remittances rose 9.32 percent in August from a year earlier

Perhaps one of the most significant indicators of the Mexican Economy is that as of September 28th according to the Bank of Mexico, the balance of international reserves now stands at an all time record of slightly more than 108 billion US dollars. So far in the first 9 months of 2010, the level of international reserves has increased by about 17.2 billion US dollars.

With numbers like these, it should come as no surprise that Mexican nationals, together with Canadians, are now the primary driving force in the todays’ real estate market in the Puerto Vallarta area. Now if we can all figure out a solution to the US recovery, things could then start to get to be very interesting. Until then, the opportunities continue to present themselves.

Nima Bay

Nima Bay Residences and Shops is quickly becoming the new centerpiece of the Marina Vallarta area with its dramatic contemporary design and hip new retail area - Nima Bay Shops. Located just as you enter Marina Vallarta, literally a 5 minute drive to the Puerto Vallarta´s International Airport and 10 minutes’ drive to “downtown” PV, it just doesn’t get any more convenient! The first phase of Nima Bay - 145 units – will be deeded and delivered this December 2010! Featuring state-of-the-art-amenities – including a full-service Fitness Center with Spinning Studio, Spa with Men’s and Ladies designated areas, Owners´ Club for relaxation and big screen excitement, a huge Sun Terrace with oversized-spas, Bar and Snack Bar service and huge landscaped pool areas (lap-pool and family-pool). Nima Bay is definitely the place for people to enjoy the active leisure lifestyle that Puerto Vallarta is so famous for. The HOA has also negotiated special access agreements with the Marina Vallarta Golf Club as well at the Marriot Casa Magna Hotel for its owners and their guests!

The spacious residences themselves offer a full Bosch Appliance package, custom idock - iPod Sound system (upgrade), remote-controlled individual AC throughout, granite counter-tops, Italian hand-crafted cabinetry, German engineered and manufactured hardware and porcelain designer flooring. Oh yes, and the views? Spectacular – Marina and PV lights on one side – manicured golf course and as-far-as-you-can-see ocean views on the other! Pre-construction prices are still being offered on these select properties priced from the mid $300´s with a good selection still available. nimabay.com

Nima Shops - FLASH!
We are excited to announce that in addition to Starbucks, Sonora Grill Steakhouse, Benitos Café and Kaban Jewelry, the most recent addition to Nima Shops – La Europea! La Europea, the most successful high-end wine, liquor and deli bar in Mexico has over 40 successful locations throughout the country. This triple-prime addition to Nima Bay is testament to the location, quality, and positioning that Nima Bay and its developers continue to deliver to Nima Shops that are further enhancing the presitige and desireability of the Nima Bay residences!

JUST SOLD
To give our readers a sense of what’s selling in our market these days, we are going to feature a ‘Just Sold’ segment in our monthly Newsletter. This month’s featured sale is Casa Artistas, a 4-bedroom villa in Conchas Chinas that had originally been listed in the mid $600’s and was recently reduced to $548,000. The property is described as having 4 individual bedrooms, each with private bathrooms, with one including a kitchenette. Enjoy private swimming pool, beautiful landscaping and indoor/outdoor living from the main kitchen, dining and living rooms. Perfect family home or B & B.

Casa Artistas was on the market for about 24 months Just Sold in the low $400’s!

For more information on this and other Just Sold properties, please contact us.

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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!