Condo.com Blog

Las Vegas will recover sooner then you think...

Thu, 24 Jul 2008 20:23:25 GMT

Check out this article posted on the Las Vegas Sun website titled "MGM Mirage chief upbeat amid drumbeat of downturn" Despite all of the negaitive talk about Las Vegas, MGM Mirage Chief executive says he predicts a “modest recovery” by early next year. CLICK HERE to read the full article on the Las Vegas Sun website. Also check out this video of Robert Kiyosaki and other Experts talk about Real Estate and the Las Vegas Real Estate market CLICK HERE to watch.

I agree with the article 100% I mean would big corporations really be in town building If they did not have confidence in the future of Las Vegas. Whats your thoughts on the Las Vegas market is it really as bad as they say?

For Information about the Las Vegas Real Estate market visit http://www.makeaturnercbw.com/ or call me 702 542 1883

The Las Vegas Housing market

Thu, 24 Jul 2008 04:20:46 GMT

Check out this video featured on In business Las Vegas with the former president of the Greater Las Vegas Association of Realtors speaking about the LasVegas Housing market. This video shows some positive signs in the Las Vegas housing market and the Luxury Condo market here in Las Vegas. Check it out for your self

CLICK HERE TO VIEW THE VIDEO

Ultimate Getaways

Wed, 23 Jul 2008 20:38:20 GMT

1. Maldives

Since this island chain is located several hundred kilometers South West of Sri Lanka, it is no wonder why the Maldives are a great place to escape the hustle and bustle of every day life. Most housing here consists of authentic tiki huts and bungalows; that are right on the water. Whether you live or vacation here you will find yourself completely secluded from the world as you know it. The crystal waters and translucent sand makes the Maldives absolutely breath taking. The Indian Ocean provides the Maldives with warm, sparkling water year round. In fact, the ocean is so clear that visibility reaches up to 50m! Known for its rare, underwater beauty, it only makes sense that the name ‘Maldives” roughly translated means, “The Island Kingdom”.

2. Secret Cove, Nevada

It may be called Secret Cove, but this hideaway is rather well known. Located on the eastern side of Lake Tahoe, Secret Cove is characterized by a series of beaches. The town is so private and secluded that many of the beaches are clothing optional so that visitors can get fully in touch with nature. Secret Cove has beach and lake access to suit campers, hikers, and kayakers alike. If you want a less extreme retreat, where clothing is required, visit Sand Harbor. Nestled in North Nevada state park, Sand Harbor also offers a boat ramp and a larger selection of water activities.

3. Korcula Island, Dalmatia, Croatia

Out of Croatia’s 1000+ islands, Korcula Island is the greenest, most independent and interesting of them all. Korcula may slip under the radar today, but it was a favorite Greek holiday spot over 2000 years ago. It even was named by the Greeks after its dark and densely wooded appearance. Sitting amidst the Adriatic Sea, the inhabitants live mostly off agriculture. The climate is conducive for vines, olive trees, vegetables and citrus fruits. If you visit Korcula be prepared for a lot of walking and a cultural experience. There is a lot o history to be uncovered in Croatia so get ready for some exploring!

4. Howe Sound, BC

Howe Sound is the ultimate in Northern Beauty. It is Vancouver’s playground for sailing, diving, camping, hiking, rock climbing and picnicking. What’s even more appealing is that Howe Sound also includes islands and clusters of islands. Swans and eagles flock to the sound in the fall and winter while the spring brings migratory birds. When you are not enjoying the outdoors, don’t miss out on the food and wine tasting events. It is the perfect way to unwind after a long day of getting in touch with nature.

Mawaena Kai Waterfront Townhomes: Hawaii Kai Best Leasehold Value

Wed, 23 Jul 2008 17:38:35 GMT

Mawaena Kai is a Great Investment!

Built in 1987 and 1988, these 104 townhouses sit on Hawaii Kai Drive, next to Kalele Kai, the luxury gated condominium. All the homes are on the marina, and range from 2-bedroom/2-bath (1,012 – 1,146sq ft) to a 2-story 3-bedroom/2-bath with loft at 1,406 sq ft. The units on the 2^nd floor have lanais overlooking the marina, and the first floor units have a lanai at the water’s edge. Many of the units have boat docks.

Leasehold Purchase is Still Available

Mawaena Kai is one of the very few condo complexes on Oahu where you can buy in leasehold and still get a 30-year mortgage. A lot of the homes are still in leasehold, with the lease fixed until 2019, expiring in 2044. The land is available to purchase at $231,000 to $251,000.

This is a very desirable location and unique in Hawaii Kai, because there is still a long lease available. The amenities are a gated entrance and extra storage. Sales in 2007 ranged from $440,000 (Leasehold) to $590,000 (Leasehold) to $795,000 Fee Simple. The 5 sales in 2008 have all been leasehold, from $475,000 for a 2-bedroom, to $523,000 for a 3-bedroom on the upper level with a boat dock. Maintenance fees range from about $430 to $600/month.

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 Abe, Realtor for Hawaii Kai
barbara@barbarashawaii.com
808-226-2537

What I See From My Chair in the Center of The World's Largest Condo Marketplace

Tue, 22 Jul 2008 19:57:18 GMT

Observations made while sitting at the center of the condo search traffic universe in the dead of summer:

More and more people are looking for condos to buy and rent every day. Our site traffic has increased dramatically from the first of 2008 and is now increasing at a rapid rate each month. This is not isolated. It is occurring in all the major metros we track.

Developers are being given significant time by their lenders to work out/thru their problems.

As lenders wait for the market to strengthen they are making the most of the time they have to increase their capital reserves. Once these reserves increase enough to offset losses the banks will take, they will mark properties to market and let the market clear.

Prices have fallen dramatically but apparently not far enough…yet. They are being artificially supported by lenders giving significant time to their developer borrowers.

Owners of units seeking to be “short sellers” are highly scrutinized and the slow turn around keeps this market sector artificially small but I expect it to grow rapidly as lenders become ready to mark to market.

While some professionals wait on the sideline – blogging, holding webinars and creating podcasts, others are working hard at their craft:

– Investors are buying notes at a discount from banks and other high-net worth individuals and foreclosing aggressively.

– Developers are fighting “lead fatigue” in their sale force by seeking new lead sources – we are working with many firms to redesign augment their internet marketing with condo.com

– Bankers are fine tuning the underwriting of their portfolios and accumulating capital to facilitate future write downs.

– Service providers are becoming “workout advisors” to keep their doors open.

– Some lenders and investors are beginning to close the bid/ask gap and closing transactions

– Lenders are willing to make unit end loans and project acquisition loans – just not under the historically aggressive loan amounts and terms they were giving prior to early 2007.

So what does this all mean? It means that we are not much closer to the market clearing than we were at the start of the summer in many markets, but individual lenders and specific projects are being sold into the market. I expect this to increase in pace and that the number of markets moving to apparent equilibrium on bid/ask will also increase this fall.

Here at Condo.com we stand ready to asset participants in the market to preserve market and sell/ their projects.

Only 53% of Miami's Preconstruction Condo Buyers Close

Mon, 21 Jul 2008 18:59:00 GMT

Buyers have closed on slightly more than half of the new condominium units built and delivered in Greater Downtown Miami since 2003, according to a new report from Condo Vultures® LLC.

Extensive research comparing Miami-Dade County records with the Condo Vultures® Official Condo Buyers Guide To Miami™ has concluded that warranty deeds have been recorded for 10,665 new units out of a total inventory of 20,045 condos delivered between Jan. 1, 2003 and the June 30, 2008, according to the report.

With credit tight and buyers concerned about not knowing the bottom, closings of new condo units have tapered off in 2008. From January through June 30, only 26 percent of the total units delivered or scheduled to be completed this year have closed.

The 2008 ratio is likely to increase in the months ahead as additional units in semi-finished projects are cleared to close by the Miami Building Department. The entire closing process for a building typically takes about six months to complete and occurs for a block of consecutive floors starting at the bottom, and moving up in a tower.

The current 2008 closing ratio is down drastically from 2007 when 66 percent of the total inventory was closed.

During the three previous years when speculation was widespread, buyers closed at a ratio of 99 percent in 2006, 97 percent in 2005, and 100 percent in 2004, according to the report.

“With 88 percent of the new condo inventory in Greater Downtown Miami now or about to come online in the upcoming weeks, we were surprised to learn that a bit more than half of the buyers of units have stepped forward and actually closed on their preconstruction contracts,” said Peter Zalewski, a principal with the Bal Harbour, Fla.-based consultancy Condo Vultures® that produced the report.

“Developers have repeatedly predicted that only about 20 percent to 40 percent of their preconstruction contract holders would walk away from 20 percent deposits. Looking at the closed sales to date, there may be some truth to their 40 percent walkaway projection.”

The 20,045 new units that have been delivered thus far in Greater Downtown Miami are located in 78 condo buildings (including one townhouse project) situated within a 60-block stretch from the Rickenbacker Causeway north to the Julia Tuttle Causeway, and Interstate 95 east to Biscayne Bay. This is the primary area where Miami's condo boom occurred.

The 20,045 new units already online represent 88 percent of the total 22,737 new units proposed and built in Greater Downtown Miami since 2003. The 78 new condo buildings already delivered account for 92 percent of the 85 total projects planned, approved and proceeding, according to the Official Condo Buyers Guide.

Developers are scheduled to deliver six buildings with 2,197 units in 2009, and one building with 495 units in 2010.

For comparison sake, during Miami’s first condo boom stretching from 1978 and 1983 there were 17 towers constructed with 2,112 units and 3 million gross livable square feet. This boom is projected to account for more than 24 million gross livable square feet, according to the Official Condo Buyers Guide.

With the number of residential construction cranes dwindling from 40 at the peak to only three today, developers and lenders are rapidly being forced to figure out ways to sell or maintain units that have been forsaken by preconstruction contract buyers who tended to be speculators.

To address the problem, some developers are offering deep discounts off of retail pricing while others are pitching attractive incentives, such as contributions toward closing costs and the buildout of units that are generally delivered with concrete floors and primer on the walls.

Other developers are quietly negotiating with bulk buyers in hopes of selling enough of the walkaway inventory at a blended price so that the construction loan can be repaid.

Once the construction lenders are satisfied, developers regain control of their projects and can ultimately decide what to do with the excess inventory, whether it be to rent out the product themselves for the next few years or sell it piecemeal to investors.

Peter Zalewski is a principal with the consulting company Condo Vultures® LLC and a licensed real estate broker with Condo Vultures® Realty LLC. Peter can be reached at 305-865-5629 or by email at peter@condovultures.com. Be sure to check out Peter’s blog at CondoDump.com. Don't forget to sign up for our weekly Market Intelligence Report.

Copyright © 2008, Condo Vultures® LLC

Real Estate Videos

Mon, 21 Jul 2008 17:35:20 GMT

Here's how a video should look for your listing - NOT:

Condo ad:

Five Simple Things You Need To Know To Make The Home Buying Process Easier

Mon, 21 Jul 2008 07:28:46 GMT

In reality, there are only five things you need to know and do to make your home buying experience as simple as possible.

1. Get pre-approved for your loan.

If possible, get “pre-approved” for a loan in the amount you’re willing to borrow.

With this pre-approval, you’re in a stronger position to buy a home when you’re ready – rather than finding your dream home, only to lose it to another buyer because you were waiting on the approval.

2. Find a great real estate consultant.

Once you’ve decided to buy a home, find a great real estate consultant. What you’re looking for is a Buyer’s Agent.

This means that the consultant represents YOU as the buyer, rather than the person selling the home.

They will have YOUR best interests at heart. Really good consultants know their markets, and will help you find the best match for your needs and wants.

They can also recommend mortgage brokers with whom they’ve worked in the past.

3. Look before you leap.

Drive around the neighborhood at different times of day. Get out and walk around and chat with neighbors. Some people like friendly neighbors, others think of them as nosy.

Drive to the local grocery store, laundry, anywhere that you frequent.

Visit nearby schools and see for yourself how the kids behave and how the grounds look. The point is to see if this is really the type of neighborhood you want to live in BEFORE you make an offer.

4. Be prepared.

Make sure your contract has reasonable contingencies included to protect you as a buyer. Reasonable can be things like approval by a home inspector, and title clearance.

For the long-term investment, make sure that you buy homeowner’s insurance, and

upgrade it as the value of your new home and its contents increase.

5. Be reasonable.

No home will be without flaws. Many times it’s these flaws that lend character to older homes, but nonetheless, it will take SOME work to personalize any home.

Preparing yourself with these five simple things – loan pre-approval, a great broker, getting to know the neighborhood, protecting yourself, and being reasonable – will help make the home buying process easier for you and your family.

Puerto Vallarta & Lake Tahoe--The Best of Both Worlds

Sun, 20 Jul 2008 21:09:11 GMT

By: Jim Scherrer

Upon retiring fourteen years ago, we spent a great deal of time traveling the world in search for the perfect retirement haven. Eleven years ago we selected Puerto Vallarta, Mexico as the location for our main retirement residence.

Vallarta, located on the Mexican Riviera and only two to four hours from most major cities in the US, offers all of the modern day conveniences, numerous activities for retirees, fine dining and social life, and perfect weather for almost eight months of the year, from October through May. During those months, the average daily temperature is 73*F with an average monthly rainfall of less than 0.4 inches of rain; in other words, more than 97% of the days are absolutely ideal for golfing, tennis, fishing, or what ever outdoor activity interests you.

The weather in Vallarta during the summer months of June through September is similar to that of Houston, Texas with high temperatures during the daytime and evening showers almost every other night. Due to the oppressive tropical summers, most of the retirees use this time period for travel or visiting their friends and families back in the States or Canada.

We have selected the Lake Tahoe area as our summer residence for those months where the average daily temperature is 68*F with an average monthly rainfall of less than 0.3 inches of rain; resulting in sunny days more than 93% of the summer time period and absolutely ideal for all outdoor activities.

By combining Vallarta with Tahoe, we are pretty much assured of perfect weather year round with a better than 95% probability of a sunny day tomorrow. In fact, the annual rainfall in our world averages about four inches which is comparable to a single thunder storm in most other regions of the world!

Aside from perfect weather for eight months in Vallarta and four months in Tahoe, there are a number of other similarities to be found between these two beautiful areas. Both have magnificent mountainside and water views. Tahoe is nestled along the southern shore of the 22 mile long Lake Tahoe, the second deepest lake in the US and eighth deepest in the world, measuring 1,645 feet at its deepest point. Vallarta is nestled on the south shore of the 25 mile diameter Banderas Bay, one of the deepest bays in the world, measuring 3,000 feet at its deepest point.

Pines are abundant in Tahoe whereas palms are abundant in Vallarta. Many of the colorful birds in Tahoe are blue jays and red cardinals whereas many of Vallarta’s are yellow and black orioles and green parrots. While brown bears roam the mountainsides around Lake Tahoe scavenging for scraps of food, crocodiles are doing the same around Vallarta’s ponds; beware of both!

The mountain views are simply majestic with 3,000 foot elevation changes in every direction, providing spectacular horseback riding and hiking trails around both areas. Golf, tennis, fishing, and boating are just a few of the many daytime activities available in both cities. The rolling hills and shorelines provide the perfect terrain for some of the most beautiful golf courses found anywhere. Very active nightlife in both cities can be enjoyed in the wonderful restaurants and nightclubs. Of course, South Lake Tahoe, Nevada is famous for its world class casinos but few know that Vallarta also has a new casino with slot machines; more are sure to come if and when gambling is fully legalized in the area.

Although both of these clean, safe, and visitor friendly areas host millions of tourists annually, Puerto Vallarta, with its 350,000 inhabitants is substantially more populated than the Greater Lake Tahoe Basin which has only 55,000 permanent residents. In order to serve the residents and tourists, each area has at least three modern hospitals, a number of schools and university branches, modern shopping centers, and all the services required to support the people in the area. Both areas have high speed internet service and satellite TV, however mail delivery in Vallarta is terribly slow and it’s virtually non-existent in many communities around Lake Tahoe.

Puerto Vallarta has a huge modern airport, whereas Lake Tahoe is accessed from the Reno Airport which is approximately 40 miles away. There are three huge modern marinas with moorage for 1,200 large yachts in the Puerto Vallarta area and there are a number of small marinas scattered around Lake Tahoe for docking smaller boats used on the lake. Vallarta has a huge modern Maritime Terminal serving the passenger cruise ships that arrive daily; obviously, there is no such Maritime Terminal in the Tahoe area! On the other hand, Tahoe has a number of beautiful ski lodges and again quite obviously, Vallarta has no such lodges!

In summarizing, for those of you fortunate baby boomers wondering what to do with the rest of your life and where to do it, we suggest that you seriously consider this combination of retirement areas; living in Puerto Vallarta during the winter months and Lake Tahoe during the summer months represents the very best of both worlds.

Jim Scherrer has owned property in Puerto Vallarta, Mexico for 25 years and resided in PV for the past eleven years. The mission of his series of 40 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.

Giuliani, Like Spitzer, To Launch Opportunity Fund To Buy Distressed Properties

Sun, 20 Jul 2008 17:37:59 GMT

Rudy Giuliani, the former New York City mayor and presidential candidate, plans to launch an opportunity fund with as much of $750 million to buy distressed properties, according to the New York Times.

Giuliani of New York City is partnering up with Berman Enterprises from suburban Washington, D.C, to create the Berman Enterprises Opportunity Fund. The minimum investment will be $25 million for participants, who are expected to come from abroad with an emphasis on oil-exporting nations, according to the report.

The bulk of the purchasing is supposed to occur in New York and Washington. There is no word if the Giuliani-related fund will focus on distressed properties in Florida, where the former presidential candidate spent a significant amount of his time campaigning.

Giuliani isn’t the first former New York politician to affiliate with an opportunity fund.

Former New York Gov. Elliott Spitzer is trying to create an opportunity fund to buy such things as distressed condos in South Florida, single-family houses in Las Vegas, and land in California.

According to the New York Sun, Spitzer, 49, is reportedly courting private equity investors and pension fund managers in hopes of securing enough financial commitments to launch his own fund to purchase short sales, Real Estate Owned by the bank, foreclosures, and any other opportunities that exist on a bulk basis.

Spitzer, a former New York State Attorney General who capitalized on his aggressive prosecution of Wall Street lawbreakers into being elected governor, is the son of a successful Manhattan real estate investor.

Peter Zalewski is a principal with the consulting company Condo Vultures®LLC and a licensed real estate broker with Condo Vultures® Realty LLC. Peter can be reached at 305-865-5629 or by email at peter@condovultures.com. Be sure to check out Peter’s blog at CondoDump.com. Don't forget to sign up for our weekly Market Intelligence Report.

Copyright © 2008, Condo Vultures® LLC

Fund Buys Oceanfront Condo Development At Deep Discount

Sat, 19 Jul 2008 23:18:07 GMT

A South Florida opportunity fund received a 31 percent discount in purchasing an undeveloped oceanfront commercial property that had been the site of a proposed ultra-luxury condominium tower in Sunny Isles Beach, which is located in Northeast Miami-Dade County.

The newly created R.K. Land Holdings LLC paid $9.6 million, or $300 per square foot, for the 32,000-square-foot lot that had been the site of the proposed Da Vinci on the Ocean condominium at 17141 Collins Avenue.

Mully SB LLC, a Virginia Beach, Va.-based entity with Nathan D. Benson as a member, was the seller. Waterbrook Developers with L. William Rudnick and Thomas N. Yianilos had proposed building a 69-unit ultra-luxury condominium on the site, according to the Da Vinci website.

It is unclear what the relationship was between Mully SB LLC and Waterbrook Developers.

Under the terms of the deal, the seller could receive as much as $2 million more for the land if the new buyer is successful in developing or selling the property.

“In the event the Grantee [R.K. Land Holdings LLC] obtains profits on its sale of the property (whether the property is improved and sold in units or sold in an unimproved state) in excess of $20,000,000, then the Grantor [Mully SB, LLC] shall be paid an additional $2,000,000 by Grantee [R.K. Land Holdings LLC] in excess of the purchase price under the purchase contract between Grantor and Grantee,” according to the deed.

The buying entity plans to build a 300-unit hotel on the property, according to the South Florida Business Journal.

The hotel would be constructed between the new Ocean 4 condominium to the north and the soon-to-be completed Jade Ocean condominium.

The buying entity is a combination of three limited liability corporations that include as members Raanan Katz of RK Associates which owns several retails centers in Miami-Dade and Broward counties, and Aventura residential developer Yizhak Toledano of Sky Development.

Toledano is involved in the Skyvest Real Estate Opportunity Fund 1 LLC, which is a joint venture between Sky Development and condo converter SunVest USA.

The seller Mully SB LLC paid a combined $13 million to assemble the land in April 2005 by purchasing each of the existing 55 units of the former condo-hotel that once stood on site, according to county records.

Upon buying out each of the condo-hotel unit owners, the seller terminated the condo association and proceeded to raze the previous structure in August 2005 in order to open a sales center of the proposed Da Vinci.

The developer spent nearly three years marketing the project extensively to high-end buyers but was never able to construct the tower.

The seller Mully SB LLC obtained a predevelopment loan for $11.7 million in July 2005 from LaSalle Bank in Chicago. In August 2007, the borrower modified the mortgage and reduced the amount to $8 million, according to county records.

The assessed value of the property for 2008 is not yet available however in 2007 the site was valued at $9.6 million, according to the Miami-Dade Property Appraiser. Industry watchers said that assessed value is often about 15 percent below market value.

Sunny Isles Beach is a 40-block long stretch of barrier island city that is home to six towers with featuring real estate magnate Donald Trump’s name. At least 12 oceanfront towers with more than 300 units each were constructed or completed in Sunny Isles Beach in the last five years. Prices for these units range from $400 to $900 per square foot.

Peter Zalewski is a principal with the consulting company Condo Vultures®LLC and a licensed real estate broker with Condo Vultures® Realty LLC. Peter can be reached at 305-865-5629 or by email at peter@condovultures.com. Be sure to check out Peter’s blog at CondoDump.com. Don't forget to sign up for our weekly Market Intelligence Report.

Copyright © 2008, Condo Vultures® LLC

Should I buy or rent?

Sat, 19 Jul 2008 22:35:31 GMT

The age old question of what to do next. The answer for 2008 first you get a mortgage, then you will find your next house/condo. The guidelines for mortgages almost change daily as they tighten up the lending. So if you have the money available to buy, the best first step before looking is to get pre-approved to know exactly what mortgage is available and then start looking for the house/condo that fits your guidelines.

St. Tropez Luxury Townhomes and Condos. Sunny Isles, FL Newest Waterfront Community

Fri, 18 Jul 2008 23:43:25 GMT

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Type: Condo, Villa / Townhome	· Boat Slips · Smart Building · Spa · Fitness Center · Club House · Security · Valet · Concierge · 24 hour guard · Elevator
Prices: $599,000 to $2,500,000
Delivery: January 2009 (estimated)
Sizes: 1,593 to 5,000 sq feet
Bedrooms: 3 to 4
Waterfront: Intracoastal
Pets: Yes
Rent: Yes
Total Units: 280
Number of Stories: 15
Maintenance: $0.42 (price per SqFt)
305-788-6643 for more info.

St. Tropez is a trio of towers offering waterfront condominium residences and the new city of Sunny Isles Towne Center nestled on the Intracoastal Waterway in Sunny Isles Beach, Florida. The three towers sit on a common base that is a tribute to an old Mediterranean village and exemplifies the charm and charisma of the south of France. The street level of this Mediterranean marvel will soon become the City of Sunny Isles Towne Center featuring beautiful upscale dining and shopping attractions. The towers themselves will be 1 Italian works of art reflecting a sleek and Modern design.

The three St. Tropez Preconstruction residential towers will include semi-private custom designed elevators and an array of upscale finishes. These finishes include rare and exotic stone flooring, a custom designed Italian wood kitchen including a stainless-steel appliance package and high-end plumbing and bath fixtures to compliment an extensive list of unparalleled interior appointments

BUILDING FEATURES:

- High-speed elevator systems including custom designed CABS
- Ocean to Intracoastal or bay view wrap-around balconies with glass and metal railings
- Pre-wired with a variety of voice, data, and television options
- Raised panel entry door with elegant hardware
- Large capacity washer & dryer
- Dramatic Italian designed kitchen with breakfast bar
- Special designer edge granite countertops with backsplash
- Stainless steel appliance package including full-size built in microwave and fully integrated large capacaity dishwasher and high-end refrigeration system
- Built-in self cleaning wall oven
- Under-mounted double stainless sink with pullout spray and garbage disposal
- European style kitchen cabinetry complete with custom organizers
- Exotic imported stone floors and vanities throughout the bathroom
- Oversized free-standing tub complete with bubble message system
- Framelss glass walled marble showers
- Energy efficient dual zone air conditioning and central heating system
- Floor-to-celing walls of tinted glass in living room, dining room, kitchen and bedrooms
- Gallery quality wall finishes
- Spacious master closet
- Linen closets
- Private tenant storage and bicycle storage

TOWNE CENTER FEATURES:

- Elegant "sense of arrival" enhanced by a South of France inspired Mediterranean piazza featuring gardens, porte cochere, cascading fountains and old world detailing
- Italian restaurant with fine dining and outdoor terrace seating
- An array of casual dining options
- A selection of upscale shopping boutiques, stores and cafes
- Pedestrian friendly pathways and garden-like piazzas complete with bubbling fountains and authentic Tuscany landscaping

Kuapa Isle - Prestigious Hawaii Kai Waterfront Townhome Complex

Fri, 18 Jul 2008 22:40:59 GMT

Proceed up Hawaii Kai Drive after turning from Kalanianaole Hwy, then turn right on Opihikao Place and you will be on Kuapa Isle, a 234 townhouse development of various different floor plans, some one level and some 2-story, completed in 1970.

There are 3-bedroom/2-bath, 3bedroom/2.5 bath and 4-bedroom 3-bath town homes, each with little garden area or lanai, and most of them on the marina, many with boat docks. This development is a very desirable location.

Sales in 2007 ranged from $410,000 (Leasehold) to $728,000. So far in 2008, 6 homes have sold, from $600,000 to $775,000. Maintenance fees are about $545/month.

Barbara Abe, Realtor for Hawaii Kai
barbara@barbarashawaii.com
808-226-2537

The Koolani condos in Honolulu have exquisite residential features and resort-like building amenities

Fri, 18 Jul 2008 21:14:40 GMT

The Ko'olani...in Hawaiian, it is the balance that upholds the heavens.

Find your urban sanctuary here at this premier luxury condominium complex (built in 2006). The Koolani is located at the electric center point of Honolulu...in the Ala Moana-Kakaako trendsetting neighborhood: amongst the famed Ala Moana Shopping Center and Ward Shopping and Entertainment Complex. Walk to the relaxing Ala Moana Beach Park and play tennis, stroll along Magic Island, or swim in its calm ocean area. Walk to the many boutique shops, eclectic dining, or Ward Theatres. Walk to your physician, massage therapist, or pet groomer.

Koolani's building amenities sets it apart from many other complexes. Residents choose the Koolani for its location, serenity, and design and construction quality, as well as, the business center, board room, meeting room, party room with kitchen and prep room, DVD theatre and billiard room. A pet friendly complex, the outdoor features on the 6th floor includes a putting green, lighted tennis courts, swimming pool and spa, BBQ areas, and dog area.

Ronda Ching Day sells Honolulu Hawaii Real Estate and helps you with all of your real estate investment needs

Is San Felipe, Mexico the new Cabo San Lucas?

Thu, 17 Jul 2008 18:33:25 GMT

I have heard from interested buyers looking into property in San Felipe, Mexico, which could very well be the new Cabo San Lucas.

There are a number of major developments going on including condominiums, duplexes, and single family homes. A major American developer has completed its first phase of the project which offers lots for sale as well as condominiums. Some of the lots allow for the erection of duplexes which can result in an excellent rental property opportunity. The climate is analogous to southern California and there is, of course, access to the Sea of Cortez. You are best advised to contact a realtor or a major American developer in the area.

Trip Around The World

Thu, 17 Jul 2008 17:48:58 GMT

1. Iguazu Falls, Argentina/Brazil

This collection of 270 separate waterfalls gives Niagra Falls a run for its money. Straddling the border of Argentina and Brazil, this is the perfect South American destination. The Iguazu Falls are surrounded by unique national parks and almost three kilometers of lush forest. While you’re there, take a speed boat ride and explore the surrounding culture. You can get there by bus from Paraguay, Argentina or Brazil, or fly from Buenos Aires or Rio De Janeiro.

2. Machu Picchu, Peru

The lost city of the Incas sits proudly amongst the Andes Mountains. It was built circa 1450 but it wasn’t until the early 1900s that it was rediscovered. Since the city is not reachable by roads, you can take a 2-4 day hike along the Inca trail or a 5 hour train journey from Cusco. Whatever method of travel you decide on, make sure to book in advance. Trains are easier to catch, but hikes are limited to 500 people a day. Either way, you will be leaving from Cusco which is a fun city in itself because it has good restaurants and an active nightlife.

3. Tikal, Guatemala

Tikal is the largest and grandest of the Mayan ruins by far. The ruins are secluded in a rainforest in Northern Guatemala and most are actually undiscovered. Tours start in the early morning when you hear the native monkeys howling. If you visit Tikal your best options are to stay in Flores or Santa Elena. Flores, which is 30 kilometers from the ruins dates back to the 13^th century. Santa Elena on the other hand is a larger town that offers cheap accommodations for travelers.

4. Great Pyramids of Giza, Egypt

It would be nearly impossible to get anywhere near Cairo without going to see the Great Pyramids of Giza. They are set on the outskirts of the large city of Giza and the Sahara desert. Most pictures of the Sphinx are taken from the desert side so it is a common misconception that the pyramids are in the middle of nowhere. Giza however is a bustling city with tons of restaurants and is just across the Nile from Cairo. You can effectively see the pyramids in a half day trip and most hotels have tour packages available. If you are with a group of people, it may be worth the money to hire your own tour guide and go at your own pace.

5. Petra, Jordan

If you are looking for an introduction to Middle Eastern culture, you will enjoy Petra. The city was built entirely into pink rock and nothing short of breathtaking. Luckily, for travelers, Petra is in a relatively calm area of the troubled region and is safe to visit. While the standard tour takes a day, plenty of add on packages are available to enhance your visit. Try renting a horse or mule while you are there. Most visitors travel to Petra from Israel, or fly into Amman which is a three hour car ride away.

6. Rajasthan, India

Rajasthan is a mystical region filled with colors, camels, forts, temples and an array of music. It is the largest state in India and is also known as “exotic India”. Visit the capital Jaipur for a modern and urban experience, and the smaller surrounding towns for a more intimate feel. Pushkar for instance is a holy village that is very popular with backpackers You can fly directly into Jaipur, Jodripur, or Udaipur, there is a bus service that connects all these points of interest. Or, take the luxurious train system for a truly rich experience.

7. Angkor Wat, Cambodia

This is a must see if you are anywhere near South East Asia. Angkor Wat is a 12^th century temple that is part of a much bigger complex. You could easily spend an entire day seeing the site, but tourists flood the area every day around lunch so plan your trip in the early morning or late evening. To get here, you can fly into the capital of Phnom Penh or directly into Siem Reap. Siem Reap is the second busiest airport in the country, and is surrounded by five star hotels and smaller hostels. Package tours from Bangkok are available also.

8. Great Wall Of China

Beijing, or the “Forbidden City”, is one city you shouldn’t pass up on your trip around the world. In the Beijing area you can view China from the past and the present. The Great Wall of China is 4000 miles long with the closest part being about 70km outside Beijing. This wall is beaming with history- it was built in the 5^th Century BC and between 2 and 3 million people died during its construction. Since the Badaling section of the great wall is closest to Beijing it tends to be the most crowded. The Mutianyu section is a little further but offers a more intimate experience. Combine a trip to the Great Wall of China with the Ming tombs for a full day of sightseeing.

9. Bali, Indonesia

Bali is just one of 17,000 small islands that make up Indonesia. The 3 million inhabitants practice their own form of Hinduism. While you’re there, you’ll be submersed in the culture, including morning offerings which consist of flowers, incense and leaf baskets. Ubud, an art village, and Kuta, a popular surfing hangout are both nearby and worth visiting. The ancient temples and rice terraces are also quite the sites to see. Luckily, navigating the island is very inexpensive, hotel rooms start at around $5 USD a night. You can fly into the Denpasar Airport which is close to the capital city or take a ferry from anywhere in the region.

10. Great Barrier Reef, Australia

No trip around the world would be complete without looking at the largest collection of living things on the planet. If you are scuba certified you’ll be in heaven, if not you can snorkel, fish or fly over the reef. Glass bottom boat and platforms rides are also a good alternative to observing the coral without getting wet. If you have more time, explore the less popular sections and islands in the region. Flights are reasonably priced from the major surrounding cities in South East Asia.

11. New Zealand

New Zealand is the best stop you could make by far between North America and Australia. Kiwiland is less known but everyone who visits instantly falls in love with it. Aukland is a large, less charming city but is worth stopping at for a night. Luckily, traveling around is easy- there are crammed but efficient buses that hop from attraction to attraction. If you have more money to spend, renting a camper is an awesome way to sight see and there are hundreds of parks to spend the night. The South Island tends to be more popular but the North Island is just as beautiful. Make sure you visit at least one of the two glaciers on your visit and sight see in Queenstown.

Condo Listing is for a Rental only!

Thu, 17 Jul 2008 01:46:28 GMT

Attention: This listing is for a rental only. The monthly rate is $3,750/month. If you are interested in this GREAT deal, please contact me via email!

Thank You!!

Puerto Vallarta Real Estate Market

Thu, 17 Jul 2008 00:28:49 GMT

Who is making money Today in The USA Real Estate Market ?

This could be an easy question for those who know the US market inside out and a difficult question for many others. I am one of the many others.

What I know and I can tell you is Who is making money in Mexico Real Estate and specifically in Puerto Vallarta Real Estate. The answer here is Thousands of baby-boomers. Yes Thousands of Baby Boomers are entering the Mexico real estate market to purchase second homes, vacation homes, investment properties or primary residences. They are buying in porpular destiations like Puerto Vallarta, Manzanillo, Mazatlan, Cancun, La Paz, Cabo San Lucas, Rocky Point, Playa del Carmen, Merida, Ixtapa, Campeche, San Miguel Allende, etc, etc, etc.

The appeal is more than just the proximity to the USA and a permanently toasty weather. The cost of living, from housing to health care, is significantly lower in Mexico than it is in the U.S. That makes the country especially attractive to retirees on fixed incomes. According to the International Living, Global Retirement Index 2007, Mexico tops the list in countries to consider for retirement. And now also for real estate investment.

In Puerto Vallarta, based on what we see, live and read I can let you know the following.

1. Vallarta is well-positioned geographically for American, Canadian and Mexican second-home buyers markets. Its easy to get here with service from major airlines, in just a few hours.

2. Vallarta's weather is exceptionally good, offering temperate waters, mild temperatures, sun most of the year with rain concentrated primarily in the off season.

3. Baby Boomers, their wealth and the transfer of their parent's wealth to their lifestyle, is still a reality. And looking for a second home somewhere warm is a high priority on their list.

4. Although prices have risen over the past five years providing strong appreciation, prices are still competitive to other beach destinations. And Vallarta offers a wide range of pricing and product availability. There are $100,000 condominiums up to $5 million dollar homes. There are homes, condos, townhouses and fractionals situated on the beach, hillside, golf course, marina, downtown or on an isolated stretch of coastline. The variety of production, location and pricing cannot be matched.

5. The cost of living is still well below that of the USA or Canada and property taxes are much less expensive.

What are you waiting for? Discover why more and more Americans & Canadians are choosing to retire in Mexico. Come and Learn how to Invest Safely and Profitably in Puerto Vallarta. Come to one of our Puerto Vallarta Real Estate Discovery Weekends.

Where: In Puerto Vallarta, México

When: July 17,18 & 19; August 21,22 & 23; September 25,26 & 27
October 23,24 & 25; November 13,14 & 15

You will tour the hottest new real estate developments that Puerto Vallarta has to offer. Leading industry experts will share their knowledge and expertise in the areas of:

::Real estate
::Law Finance
::Taxation
:Title Insurance

Our Discovery weekend is an experience like no other. Expect the best while you're with us. You will experience all the culture and adventure that Mexico has to offer. All you pay is airfare and a seminar fee of $185/single or $250/double.

So get ready to have fun!.

To learn more or make your reservation, please contact us:
Info@emexicorealestate.com

LUXURY HIGH-RISE NAOS INTRODUCES NEW STANDARDS TO THE RIVIERA BAJA REGION

Wed, 16 Jul 2008 21:03:35 GMT

For Immediate Release

Riviera Baja, Mexico (July 7, 2008) – If surfing, boating, golfing, relaxing, great food and great wine on the Pacific Ocean are qualities you desire in a beachside home or condo, look no further than NAOS in Mexico’s Rivera Baja. New growth in the Baja area has gotten locals and many other California, Nevada and Arizona natives very excited; yet, no building thus far has featured the high-standard of quality and value that discerning buyers demand in today’s market…until now.

NAOS will create the area’s most sophisticated beach property for owners to enjoy. The beautiful luxurious beachfront project will promote the relaxed west coast lifestyle that those familiar with the region are accustomed to. Located in Rosarito, Baja California Norte, Mexico, this ocean-front residence differs from others in the area because of its supreme location, unique and desirable amenities, quality furnishings and construction, and “true-value.” Potential buyers can own quality beachfront property for a fraction of the cost when compared to residential properties in areas like San Diego, Los Angeles, and even other Baja projects. NAOS will offer a refreshing and lavish residential option for those buyers who wish to live, retire, or vacation on the Baja’s beautiful beaches and coastline.

Designed by renowned architects Moises Izon and Jose Sanchez of the award winning firm Central de Arquitectura, NAOS promises to be the first of its kind in the Baja region. This future community will be composed of 400 residential units split into 2 high-rise towers specifically designed to create carefree waterfront condo living. NAOS will offer a variety of living spaces including spacious one, two and three bedrooms units with dens, lofts, garden houses and penthouses. The collaboration of Italian inspired kitchens and bathrooms with spas, marble flooring, top of the line finishes and fine modern amenities make for space that is nothing short of luxury living. The units are inspired by modern yet comfortable architecture with a plethora of high-end amenities including granite counter tops, and top of the line stainless steel appliances.

In addition to the abundance of elite amenities at NAOS, the community will feature a world-class spa, tennis courts, private beach front cabanas, large indoor-outdoor pool and BBQ area, jogging trails, fully equipped state of the art gym, private kids pool, and high speed WI-FI internet.

NAOS prioritizes its residents’ enjoyment with a fully stocked two story library, private multi use rooms for business affairs, and secured children’s play area. Safety and comfort are guaranteed with secured and individualized parking, state of the art Fire and Smoke Protection Systems & 24-hour concierge and security. Environmentally friendly green components geared to improving and conserving the environment…..such as but not limited to water recycling, solar powered energy are also a large priority for the 3 phase high-rise NAOS community.

Scheduled for completion in March 2011, NAOS will revitalize the area and create a new trend in making Rosarito Baja the new Mexican hotspot for home buyers and retirees.

For more information visit www.naosliving.com or please contact Mia Jurica at (619) 307-6717, email mjurica@naosliving.com.