As projected, the second quarter started much stronger than the first quarter of 2011. We have experienced a good amount of activity through our RPR sales offices in the Riviera North Shore & Punta de Mita, resulting in 13 signed offers among our listed properties and developments, and 3 or 4 more that we are working on signing as we prepare this month’s newsletter. The majority of the offers are around USD$1,000,000.00 however we are starting to see some clients positioning to make offers around and above USD$2,000,000.00. We are also seeing more interest and we are currently working on two larger developer parcel offers at this time — again further evidence that the light at the end of the tunnel may finally not be the train coming towards us but the sun starting to shine after the storm! Occupancy in the hotels throughout the Riviera North Shore has been somewhat stronger, and we understand that the Easter Holiday period has seen more people returning to our shores. It is always nice to see our neighbors, other residents and friends deciding to come down and enjoy our beautiful region. With the summer months almost upon us we are quietly confident that this summer could be a fairly good one with some amazing opportunities throughout the Riviera North Shore and Punta Mita residential communities, and as we have seen to date when there are extremely good opportunities, the buyers come
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Market Update
Saturday, May 7th, 2011Feature Property for Sale: Las Palmas #24
Monday, February 7th, 2011With a recently reduced price of $1,099,000, this villa represents an exceptional value in this favored community within Punta Mita. Villa Ola embodies the open-air lifestyle so popular in this resort. The single level, 3-bedroom, 3-bath home features a combination living/dining room that opens onto a partially covered expansive terrace, with outdoor dining area and private pool. The primary master suite offers a separate, private terrace, as well as a walk-in closet and large bath with outdoor shower and patio. The second bedroom, also with walk-in closet and private bath, opens up to the main terrace. Just off the large central patio, which showcases a stunning water feature, is a gourmet kitchen and laundry, as well as a guest bath and media room, converted into an additional bedroom. Throughout the villa is fine stone flooring, and there is a stand-alone, adjacent enclosed garage. The villa features views down the second fairway of the Pacifico golf course to the ocean, and is an easy golf cart ride to the Punta Mita Residents’ Beach Club. View it now at: http://www.rivierapartnersmx.com/homes/villas/laspalmas24.html
Development Spotlight: Los Veneros, Costa Banderas
Monday, October 4th, 2010Riviera Partners Realty is excited to announce our newest Master Plan development listing, Los Veneros. The natural beauty of the Nayarit Riviera inspired the creation of Los Veneros Resort, Residences & Beach Club, a beachfront community that harmoniously combines an exquisite location with the amenities of a pampering resort destination. It is the perfect balance between comfort, style and nature.
The community extends across 37 acres along a stretch of almost 1,500 feet of white sandy beach frontage at renowned Playa Destiladeras, the focal point of Los Veneros. Entry is via gated access, with 24-hour welcome and security staff. Recreational amenities currently include inviting swimming pools, a chic oceanfront Beach Club with bar and grill, fitness, wellness and spa services, and an ocean activities center. Future phases will expand on Los Veneros’ offerings. The built community is low-density and low-impact with residences distinguished by their spectacular ocean views and architectural details in complete harmony with their surroundings.
The distinctive Los Veneros style comes from its spacious, open floor plans that combine functionality with style. Sliding glass doors fully retract to seamlessly integrate interiors with the outdoor living spaces of the large private balconies or terraces. The architecture emphasizes the water views and abundant natural light of Los Veneros, while the interiors feature the sensuous textures and dramatic shapes found in the surrounding natural elements. Each residence also comes with underground access-controlled parking, and owner storage spaces.
Your beach home at Los Veneros also comes complete with acclaimed resort management services provided by LaTour Hotels and Resorts. Concierge, management of the Homeowners Association and an extensive array of residential services for owners are available from this dedicated team with proven results. For those owners who choose to rent their residence during the times they are not personally enjoying it, LaTour offers a professionally managed program designed to maximize income opportunities.
3- and 4-Bedroom Oceanfront residences are available for immediate occupancy, with new pricing starting at just over $585,000 USD. We invite you to contact us to arrange a tour and afternoon at the Los Veneros Beach Club. Discovery Center and Model open daily. 329.291.7085.
Featured Resort News: Four Seasons’ 1-2-3-4 Special Returns by Popular Demand
Tuesday, August 31st, 2010There are many reasons to visit Four Seasons Resort Punta Mita this summer, but the best reason of all is the return of their 1-2-3-4 offer, featuring truly sizzling savings. Book four nights and receive a resort credit of $1,234 USD. This represents an impressive savings because, unlike most other resort-credit deals, you can apply up to 50% of the $1,234 credit toward the cost of your room. Rates begin at just $415 per night.
Calculate the savings: If you book a garden-view “casita room” (the hotel’s least-expensive room category) for $535 per night (including taxes and resort charges) for the minimum of four nights, it costs $2,142. But apply 50% of the $1,234 in room credits, and your four-night stay now costs just $1,525, or $381 per night – plus you have an additional $617 to enjoy on food, beverages, spa services, golf and more!
Once you’re there, what will you do? Here are 1-2-3-4 of our favorite things:
1. Relaxing on a daybed in your private pool side cabana, a five-minute foot massage and Evian spritz — the perfect accompaniment to a leisurely morning…
2. Watching sea turtles lay their eggs, ensuring future generations
3. Floating along the Lazy River, drink in hand
4. Marveling at the Tale of the Whale, the world’s only natural island green, as you tee off toward the Pacific…
This special rate applies for travel through: October 31, 2010 (certain blackout dates apply). For complete details and reservations, contact your travel professional, visit http://fourseasons.com/puntamita, or call the resort directly at: 1 866/280-9490, or (+52) 329/291-6000.
August Market Perspective
Monday, August 23rd, 2010At Riviera Partners, we are seeing an increase in activity from Mexican buyers – both individuals as well as developers – coming back into the market. They are actively looking to take positions in well-priced real estate, as they sense that this is the bottom of price adjustments in this region. With the Mexico economy strong, we believe Mexican buyers will lead the return to investment in the area, paving the way for their Canadian and U.S. counterparts.
Part of their leading the return to purchases is due to the relative strength of the Mexican economy. Their economy has show consistent signs of positive recovery and an increase in activity in both manufacturing orders and exports, two key contributors to Mexico’s GDP. The Mexican central bank has forecast for the end of the second semester an average growth of between 4.0 to 5.0%, as well as the creation of between 525,000 to 625,000 new private sector jobs by year-end. Notwithstanding some concerns and risks for the economic grow, the consensus of analysts are calling the end of this recession in Mexico. The Mexican Bolsa (stock market index) continues to move in positive territory, having registered consistent gains since September 2009.
Mexico did not experience the same financial meltdown as the U.S., but merely reacted to the problems of its northern neighbor. Mexico’s banks and insurance companies emerged largely unscathed from the global crisis thanks to proactive supervision by regulators and the strict regulations put in place following a severe domestic financial crisis in 1995 that saw many of the country’s banks fail or go into government receivership. To ensure its institutions’ continued strength, the Mexico government recently instituted the Financial Stability Council. It held its first meeting in early August, just two weeks after President Felipe Calderon issued the decree establishing the body, whose main task is to watch for systemic risks in the country’s already heavily regulated financial system.
Today, all major Mexican banks are well capitalized and profitable, although somewhat reluctant to lend even as the economy is forecast to grow between 4% and 5% this year. Bank profits rose 15% year-on-year to 37.28 billion pesos ($2.93 million) in the first half of 2010, after growing 11% to MXN62.06 billion last year.
Mexico boasts the 12th largest economy in the world and, according to the World Bank, and it has the highest Gross National Income per capita in Latin America. Goldman Sachs’ recent study of emerging economies predicted that by 2050 Mexico will hold one of the largest economies in the world, alongside China, United States, India, Japan and Brazil.
In a word, the Mexico market is resilient, with the Mexico economy strong. Although the northern news media is focusing their cameras on violence resulting from the Mexican government’s aggressive war against drug traffickers, there is another story to be told in Mexico. It’s a shame positive news isn’t nearly as attention-getting as sensational news. Which, according to Mexican buyers – is just fine for them. It gives them more time to take advantage of current opportunities before their northern neighbors realize the opportunities present here, and return to the game.
Featured Resort News: St. Regis Weekly Events; Spa Specials
Sunday, August 15th, 2010It will soon be considered a tradition – St. Regis, Punta Mita and weekly get-togethers are becoming “the” place to be in Punta Mita! Savvy owners are making this a part of their time in Punta Mita, joining in with other residents and making new friends.
Each week, St. Regis offers the following opportunities to revel in the oceanfront atmosphere of the Seabreeze Bar and Restaurant:
• Latin Night: Live Latin music playing at Seabreeze every Thursday night, with a cerviche platter tasting, featuring the freshest catches and flavors of the sea.
• Cuban Night: Each Friday, enjoy live Cuban music for dancing, along with a selection of flavorful mojitos and Cuban-style tapas.
• Steak, Wine and Jazz: Seabreeze is the setting each Saturday evening for enjoying laid-back live jazz music, and a fix menu consisting of soup or salad, selected Black Angus cuts, and a glass of fine wine.
And during the day, escape the summer heat, while you treat yourself to a pampering spa treatment at the St Regis Remède Spa. During the month of August, services will be discounted as follows:
• 25% discount on facials
• 30% discount on massages
During September, their signature “Mexican Hot Obsidian Massage” will be offered at a 30% discount.
*(Discounts do not combine with Residents’ discount)
For additional information, or to make reservations for the above activities, please contact The St. Regis Punta Mita Resort at tel.: (329) 291-5800, 5844, or visit http://www.stregis.com/puntamita.
Explore additional Punta Mita resort special events at Four Seasons Punta Mita at: http://fourseasons.com/puntamita; or by calling the resort directly at 1 (866) 280-9490 or (+52) 329/291-6000.
Summer Fun as Stand Up Paddle Surfing Popularity Grows!
Tuesday, August 10th, 2010“Stand Up Paddle Surfing” (SUP) has risen from its ancient Peruvian past as the 21st centuries’ ultimate lifestyle activity. The days of stationary bikes in sweaty gyms is a thing of the past, and Paddle Surfing is here to stay! Why not? It’s a healthy core workout that gets your heart pumping and body flexing like a yoga workout minus the full-length wall mirror. You are out in nature with the dolphins and sea turtles, standing up looking down into the depths of the ocean, and the wonderful thing is – pretty much anybody can do it!
Paddle Surfing has now arrived to Mexico – and, to Punta Mita, which offers ideal conditions for year-round enjoyment of this exploding sport. Pacific Paddle Surf offers lessons on flat water, in the surf, fitness paddles, and pleasure cruises. As well, it has the top-of-the-line “Starboard” Stand Up Paddle Boards to demo, rent, or purchase along with everything else you need to get started. For more information, contact them at: (322) 123-3034, and check out their new Paddle Surf BLOG. The Punta Mita Surf Club is also arranging periodic Paddle Surf excursions, so if you’d like to be on the list for upcoming trips, contact Jonathon Smart, at <mailto:Jonathon@rivierapartnersmx.com>
Staging your Home to Maximize your Selling Price
Tuesday, August 3rd, 2010By Kathy Nidermaier, KNDesigns
For anyone with a home on the market to sell, success may just be in the presentation.
Real estate professionals today are insisting that staging makes a big difference in how quickly a home sells, which can mean a higher sale price. Home staging is a growing practice, especially among luxury properties or within communities where numerous homes are available for sale. A warm and inviting presentation of your home to prospective buyers can be just what sets it apart from the competition, and more importantly – what brings in a desirable offer.
The staging process may involve a simple review of lighting, rearranging of furniture and the addition of props and flowers, or it could be as extensive as bringing in new furniture, painting the walls in more neutral colors and hanging new artwork. Staging is simply marketing – it is the act of preparing and showcasing a home for sale. Preparing involves cleaning, de-cluttering, updating and repairing, while showcasing is the process of arranging furniture, accessories, art and light.
Why is this important now? In the current market, there are so many more options for buyers to choose from—and buyers are tending to look at a greater number of properties. Staging allows you to differentiate your home, as well as add extra value. Also, buyers—especially in the Punta Mita area—are tending to be very move-in ready, so a properly set up home provides the sense they could be enjoying it tomorrow.
Statistics from the U.S.’s National Association of Realtors show that only 10 percent of buyers can see past what is in front of them. Consistently, studies show that buyers tend to purchase the best looking, or most presentable home, even despite other factors such as location or orientation. This is where emotions come into play – generally, a house that is set up properly sells faster.
Kathy Nidermaier Designs offers professional staging services in Punta Mita. For more information on staging, and KND services, visit: http://kndmexico.com/index.php/services-offered/residential-staging/ or email: mailto:requestinfo@kndmexico.com
Market Update – July 1
Monday, July 5th, 2010June has always been a slower month (shoulder month) for visitors here in the Punta Mita area but we are expecting more activity as we head into the summer vacation season. With regard to real estate transactions, June for us has been a positive beginning to the summer months ahead, as we have several transactions in escrow with closings happening through the end of this month, as well as additional closings scheduled in July and August.
We are feeling the market strengthening, as evidenced by three of our most recent transactions – single family home sites within Punta Mita and a development parcel in the North Shore – indicating that the prospective purchaser is willing to start venturing outside of the finished product limitation.
New construction within Punta Mita is another signal that more confidence is beginning to return to our market, and is another indicator for us that the market is gaining momentum and confidence, albeit slowly.
We are clearly seeing that Canadian and Mexican buyers are more active, with U.S. investors still remaining on the sidelines for now. The strength of both of these economies is underlying the increase in interest and activity, coupled with the unique attractions this area holds for these markets.
In Canada, the economic recovery has fully taken hold, with first quarter 2010 GDP growth leading all G-7 countries at a rate of 6.1 percent. This is also the strongest increase in over ten years, and contributed to the increase in employment, erasing almost a third of the job losses experienced during the downturn, which bottomed in August 2009. Canada’s stable housing market and more conservative financial institutions contributed to the more rapid recovery, which also benefited from a strengthening in demand for some of Canada’s key commodities.
Canadians have traditionally been buyers in the Puerto Vallarta and Punta Mita markets, as they look for a winter beach escape—and air access here is readily available from key points in Canada. The exceptional prices available now are motivating buyers who hesitated when real estate prices were at historic highs. The recent price adjustment in many desirable properties is providing a terrific buying opportunity, and our Canadian buyers are taking advantage of these opportunities.
In Mexico, where GDP is expected to grow at close to 5% this year, the relative absence of financing helped protect home prices—especially in resort areas—from experiencing the same sort of free-fall price declines as were seen in Florida and other areas. As the Mexico economy recovers, the emerging middle class here has created a whole new market of resort homebuyers. In our area, interest is especially strong from the Guadalajara market—which is less than a 3-hour drive away, as well as from Mexico City and Monterrey. In addition to offering a resort home for enjoying holidays and weekends, the Mexican buyer also sees these as value-based investment properties, especially those on the beaches.
We are very sympathetic to the crisis of the oil spill in the Gulf of Mexico and the surrounding areas, and share in the frustrations of many over this ecological disaster. However, being realistic, we do believe that as oil comes ashore on the beaches of Florida, attention will turn to Mexico’s beaches, especially those in Pacific Mexico, as an alternative for both beach vacations and resort home ownership. Where clean beaches were once assumed as a “given”, more attention will be paid to policies and practices that could impact their continued health over time. Mexico has an active certification process to monitor and track the cleanliness of its beaches and waters, and there are no offshore drilling facilities which could impact the beaches in our area – which is another benefit of property ownership here.
Special Announcement: Riviera Partners Realty named as Official Listing Agent of Hacienda de Mita development—offering a selection of specially priced units
Friday, May 21st, 2010Riviera Partners has been selected as the exclusive Listing Agent for Hacienda de Mita, representing available developer inventory. We are proud to be the official representative of this fully finished community within the gates of Punta Mita, as it has demonstrated the strongest track record in both vacation rentals as well as re-sales at increased price points.
As part of our relationship with the Hacienda de Mita developer, we have worked to re-price a selection of brand new units, to better reflect current market conditions. These condos are at very attractive prices, starting at $750,000 for a luxury 3-bedroom residence within Punta Mita. In addition, the developer is offering either discounted pricing for cash purchases or developer financing, with payment options of 1-, 3-, and 5-year terms.
Hacienda de Mita is Punta Mita’s only beachfront condo community, and features a private Beach Club, reserved exclusively for its owners and their guests, in addition to all of the other amenities available as members of Club Punta Mita. With more than 60 units sold, Hacienda de Mita is a vibrant, established residential community. We believe our limited selection of specially-priced units will sell quickly, so we encourage you to contact us today with your interest, and not to miss this singular opportunity.
Hacienda de Mita is the latest community to select Riviera Partners as their preferred and exclusive Real Estate Agency, joining our other developments of Paradise Coves, Pontoquito, nahui and Punta Raza. To view our available properties within these select developments, visit: rivierapartnersmx.com/developments.
