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Welcome to our August edition of the Riviera Partners Realty (RPR) monthly newsletter. It is our intention through our newsletter to bring you, our fellow Punta Mita and North Shore residents, friends, families and visitors up to date with the latest market information, trends, social events, clubs, and activities in our region.
RPR Plaza Ollin/Punta Mita offices are open Monday to Friday from 9:00am to 6:00pm & Saturday from 10:00am to 2:00pm. Call us at: +52.329/291-5442 / US&CAN: 1.323/521-3353 / 1.760/298-4413 – RPR web site: www.rivierapartnersmx.com. We’re excited to be relocating our offices to the street level of Plaza Ollin in the coming month, and will share the news of our new location with you as soon as we’re settled.
Our nahui onsite sales office is located on the beach at nahui, Playa Destiladeras. It is open Monday to Friday 10am to 5pm, Saturdays 10am to 2pm, and Sundays from 10am to 2pm. Come by and visit and learn more about this exciting new development in the Costa Norte. www.rivierapartnersmx.com / www.nahuivillage.com / +52.329.291.7010
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Market Perspective |
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At 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.
Puerto Vallarta Ranked by AARP as Top Pick in Best Places to Retire Abroad
We know it’s delightful to live here, and it seems we’re not the only ones with this opinion. We were proud to see our area recognized by AARP as the top pick, in their round up of “Best Places to Retire Abroad”. Enjoy reading the story here.
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Feature Development: Paradise Coves, Costa Banderas |
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In the Riviera Partners Realty spotlight this month is a collection of oceanfront and ocean view lots known as Paradise Coves. The developer has just authorized us to offer a 20% discount on select home sites, making this a prime opportunity to acquire oceanfront real estate at an exceptional value. Paradise Coves is an intimate, gated community with a very select number of private home sites. It derives its name from a series of beautiful small private coves that grace the verdant coastline. The beaches fronting this community are virtually vacant, as the natural setting offers very limited access north or south of the coves.
This residential private community is composed of 12 private home sites that vary between 1,500.00 M2 to 2,200 M2 in size. Residential construction is guaranteed to respect the integrity of the community, through adherence to a condominium regime and bylaws, but allows for generous construction sizes with lateral, front and back set backs. This community has enjoyed successful sales and building over the past couple of years. Today, there are only 5 home sites remaining, ranging in price from $618,000 USD to $1.8 million USD. Paradise Coves features a prime location just five minutes east of the Four Seasons and St. Regis Resorts in Punta Mita, and 45 minutes from the Puerto Vallarta International airport. For oceanfront custom home sites, Paradise Coves offers an incomparable value, at this limited opportunity pricing. Contact us today for additional details. View it now at: Paradise Coves
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Featured Properties for Sale |
Faro de Mita #105
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For anyone looking for an entry-level priced residence along the north shore, this condo in El Faro de Mita is ideal, and is now offered at a newly reduced price. This 2-bedroom condominium is unfurnished, meaning you can create your personalized space. It offers comfortable living with great views of the Bay of Banderas and the new main street in the Village of Nuevo Coral de Risco (El Anclote / Punta de Mita). It features tile floors inside and out, as well as a complete kitchen, with all appliances. The spacious covered terrace provides an enjoyable space for enjoying the tropical nights, with the sound of the ocean audible at just a block away. It fully opens up to the main living and dining area, creating an expansive indoor-outdoor living space. The El Faro condos surround a large central swimming pool and garden area, with a palapa-covered social area. It also has a private gated entrance to access the street below and the beaches just in front. A security guard offers gated access to the private community parking. Offering 1,750 square-feet of air-conditioned space, the 2-bedroom El Faro #105 is priced at $275,000. View it now at: Faro de Mita #105.
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El Encanto Residence #2
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Occupying a coveted setting overlooking the Bay of Banderas and offering a unique view of three fairways from both Jack Nicklaus Signature Golf courses, El Encanto is an extraordinary residential enclave of waterfront and golf view residences. Seemingly right at the water’s edge due to the elevation above sea level, this two-story, 4-bedroom residence with 7,172 square feet of indoor and outdoor living space provides spectacular golf and ocean views, and has recently been reduced, and priced to sell.
The main entry to the home takes you into a private, central courtyard, from which the various rooms extend out. Notable details of the home include top grade red cedar hardwood paneled doors and shutters with screens, dramatic high ceilings, a heated infinity-edge pool on the large terrace, fine marble flooring with “pebble carpet” design in bathrooms, and either a balcony or terrace off of every bedroom. The Master Suite features ocean views, an ample sitting area, walk-in closets, outdoor shower, burnt red travertine marble countertops, his & her sinks, and a Jacuzzi tub. You’re bound to gather on the large, partially covered terrace that joins the living and dining rooms to the pool area. The home is designed to encourage outdoor living and allows extended family and guests to enjoy individual living spaces. El Encanto Residence #2 has recently been reduced from $3,150,000 to $2,695,000 USD. View it now at: El Encanto Residence #2.
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Feature Rental News |
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Casa Todo Bien is a private, oceanfront sanctuary, part of the exclusive, gated 20-estate community of  Ranchos within the Punta Mita Resort. This beachfront estate offers you 4 en-suite bedrooms, plus an additional bedroom in an adjoining casita, with a total capacity of 8 to 10 guests. The décor of Villa Todo Bien is contemporary comfort, beach-chic, and based on the earthy Mexican marble flooring and tropical hard woods found throughout the estate. It is accessorized with unique Mexican custom furnishings and folk-art.
This spectacular estate boasts five bedrooms, (three Master Suites with King beds, one Suite with two Queen beds, and one Casita with King bed, all with en-suite bathrooms). Common gathering areas include indoor and outdoor living/dining spaces, media room, library/office, central courtyard with reflecting pool, fitness room, gourmet kitchen and pool pavilion.
Enjoy the gentle ocean in front of the house for a variety of water sports including boogie boarding, surfing, kayaking, or even whale watching (from Dec. to May) The beachfront in complemented by a large swimming pool and outdoor Spa pool, as well as a pergola-covered lounge with full bar. During your stay you will be pampered by the fantastic staff, which includes an on-site House manager, cook, housekeeper and gardener. Security guards are on duty 24/7 throughout the common gated area of Ranchos Estates and along the beach. The residence, pool and beach seamlessly integrate to enjoy unforgettable experiences.
As a rental property within Punta Mita resort, guests enjoy access privileges to the Punta Mita Residents’ Beach Club, Tennis Club and Golf Club, with its two world-renowned Jack Nicklaus Signature golf courses that surround the Four Seasons Resort and St Regis Resort.
Call us for more information about this new and spectacular estate, available for rent. View it now at Casa Todo Bien.
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Featured Resort News:
Four Seasons’ 1-2-3-4 Special Returns by Popular Demand; Cooking Classes |
 There 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:
- 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...
- Watching sea turtles lay their eggs, ensuring future generations
- Floating along the Lazy River, drink in hand
- 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 www.fourseasons.com/puntamita, or call the resort directly at: 1 866/280-9490, or (+52) 329/291-6000.
Four Seasons Community Cooking Classes
 Four Seasons Resort Punta Mita is pleased to announce two special cooking classes, featuring the celebrated chefs of the resort, both open to guests as well as Punta Mita residents.
"How to Make the Perfect Barbecue", takes place at the oceanfront Bahia restaurant, where participants learn different tips for grilling. This cooking class is a demonstration only, but all participants will be able to enjoy the prepared dishes at the end of the class. To accompany the grilled masterpieces, you’ll also learn how to prepare a classic "Sangria". A minimum of 4 participants is required to hold the class. Cost per person is $90.00 USD, plus taxes and service. The class is held every Thursday at 11:30am, starting with the resort’s famed “Catch of the Day”.
The second cooking class is also a demonstration, called "Quality Time with Chef Jose Salas" held at Ketsi, and featuring contemporary Mexican cuisine. Participants enjoy one hour of interactive fun with the chef, learning to prepare dishes as guacamole, Mexican salsas, quesadillas, sopes, and more. They’ll also learn how to prepare the refreshing Michelada beer-based beverage, traditional Margaritas, and delicious flavored waters. Cost per person is $95.00 USD plus taxes and service. A minimum 4 participants is required to hold the class, which takes place every Tuesday at 4:00pm. For information and reservations for either class, call 329/291-6000, ext. 3733, Concierge services.
Explore additional Punta Mita resort special events at The St. Regis Punta Mita Resort at tel.: 329/291-5800, 5844, or visit fourseasons.com/puntamita.
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Community News: |
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Litibu Golf
Get to know the newest active addition to the Punta Mita and north Shore – the Litibu Golf Course & Club. This Greg Norman-designed 18-hole course has been getting rave reviews for its playability from our friends in the area, since its inauguration in March of this year. The PGA-qualified course plays 7,022 yards over more than 68 hectares of land, with 331 meters running along the ocean’s edge.
While some services are still being added r refined, the Litibu Course will ultimately feature a Clubhouse, Pro Shop, Snack Bar, practice tee, driving range, rentals of carts, clubs, and equipment, as well as sale of golf equipment and clothing.
Grand opening special pricing is now in effect, with greens fees for 9 holes priced at $1,000 MN, or 18 holes priced at $1,200 MN. Cart rental runs an additional $270 MN for 9 holes/$340 MN for 18 holes, and equipment rental is $230 MN.
Hours of operation are daily, from 7:30am until 6pm. The Golf Club is located in the Litibu development, on the road connecting Punta de Mita to Sayulita (Carr. Punta de Mita – Higuera Blanca, Km 2; Higuera Blanca. Reserve by calling 329/2918-4091, 322/298-4091, or email campodegolflitibu@fonatur.gob.mx.
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Active Pursuits |
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 Punta Mita Surf Club: We are meeting every Friday at 6:00pm at Plaza Ollin (Boca Deli) for our Punta Mita Surf Club. We then head over to the Residents’ Beach Club in Punta Mita to meet a panga that departs at 6:15pm (weather and waves permitting), and head out together to the best break for that day (there is no cost for the panga/surf adventure except to cooperate with a tip for our captain). Should the waves be too large at the Punta Mita Beach Club we will meet the panga in the village to facilitate our departure and arrival. Come join us one of these Fridays, no matter if you are a beginner (we do not currently have an instructor), intermediate, or advanced surfer. Our idea is to share in another spectacular sunset surf session and meet more people in our community that share the same passion for catching a few waves! For more information contact us directly: Office: 329.291.5442 / Cell: 322.105.0243 / Jonathon@rivierapartnersmx.com or wally@rivierapartnersmx.com.
Punta Mita Sailing Club: those that would like to try their hand at entering a regatta and crewing on a boat please let me know and I will send you this year’s Regatta schedule. For more information contact me directly: 329.291.5442 / 322.105.0243 / Jonathon@rivierapartnersmx.com.
Punta Mita Tennis: Monday evenings at 4:30pm, Punta Mita residents and friends can enjoy an hour of fun play and tips from our resident pro Alex.
Tuesday evenings from 7:00 to 9:00pm offers another opportunity to enjoy fun games of singles and doubles with fellow tennis players. These Tuesday evenings are great fun and offer another opportunity to meet and get to know other tennis players in our local community, all ability levels are welcome!
 Punta Mita Expeditions: Summer is already bringing beautiful crystal waters providing amazing diving inside and outside of the bay. This is the best time of the year to get PADI certified and explore the reefs as certified divers. Our friends at Punta de Mita Expeditions offer a Marine Snorkel Safari, where you travel by boat to the Marietas Islands National Park and have the opportunity to view giant Pacific manta rays, turtles and octopus – it’s an amazing experience! Warm currents are attracting the first schools of Yellowfin tunas and Wahoos opening the big game fishing season.
For more information on scuba diving, fishing and other tours contact Nicolas & Sebastian Melani at Punta Mita Expeditions www.puntamitaexpeditions.com / nicolas@puntamitaexpeditions.com / Sebastian@puntamitaexpeditions.com; 329-291-6649. Visit their new location just below the El Faro condominiums.
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Plaza Ollin |
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Watch this space for news, coming soon, about the new Surf Shop and Sports Lounge at Plaza Ollin...
Plaza Ollin is located on Ave. de las Redes approximately just 100 meters from the second entrance (Village entrance) into the Punta Mita community, on the main street accessing the beach front restaurants and beach areas.
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