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Welcome to our monthly newsletter, designed to keep our clients and friends informed of news in the Punta Mita, Costa Banderas, and the general Northern Bay of Banderas region. Our objective is for this monthly communication to be an anticipated tool for staying in contact with your resort home community, so please feel free to share with us any ideas for information you would like to receive, and share our newsletter with your friends, family and colleagues.
Riviera Partners Realty, Punta Mita continues to offer unique referral opportunities to our local residents & friends. Should you have family, friends or business associates that you feel may be interested in sharing in your piece of Paradise who better to introduce them to than Riviera Partners Realty. When it comes to the serious business of purchasing here in the Punta Mita development and/or the northern Bay of Banderas, no team has more relationships, experience and knowledge than the Riviera Partners Realty team. Having been in Punta Mita since the beginning and having the most in-depth knowledge and deepest relationships and knowing the property better than another else, we are here to continue offering an impartial and professional service to make the process more comfortable and enjoyable.
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 Market Perspective: by Jonathon Smart
Recent Activity: While these summer months have become notoriously quiet even in the most active years we have seen a marked increase in activity both of newly listed properties, offers being written up and presented and actual closings taking place. Within the past 30 days Riviera Partners Realty has closed two properties within the Las Palmas de Punta Mita development, and we have two other pending transactions as we head into September that we are working diligently to close within the coming 30 days. We have also acquired an array of exciting new listings from Faro de Mita, Paradise Coves, Pontonque, Lagos del Mar, Porta Fortuna and the El Encanto developments/sub-divisions. While the market certainly remains weak at best with our most recent activity it leads us to believe that the light that we see at the end of the tunnel is no longer the train coming towards us but daylight and brighter times ahead! We will continue to work diligently within this market and into the broader US and Canadian markets to better expose our contracted listing properties. We will be hosting various social events here at the Plaza Ollin throughout this coming high season 2009/2010.
This past Thursday, August 27th we hosted our second AMPI (Real Estate Association) monthly meeting, where once again we enjoyed the company of approximately 40 of the top real estate brokers and agents from the local area. We will continue to host these AMPI meetings and have offered to host another before this year ends as they give us a great opportunity to showcase our listings with the local brokerage community. This August 27th we hosted the breakfast in the FSPV number 14, and showcased Villas 4, 8, 11, 14, 18, 26 (25 was occupied) & 35.
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 Feature Properties for Sale: There has never been a better time to purchase real estate in Punta Mita and the northern Bay of Banderas!
Among our extensive boutique inventory of select properties, we feel the following offer exceptional values. We invite you to review the highlights of properties below, and should you have an interest, please contact us for additional details.
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Las Palmas Villa #7, is located within the vibrant community of Las Palmas Club & Villas, within Punta Mita. What makes Las Palmas #7 special is its unparalleled location in the heart of Punta Mita: it’s less than a five-minute golf cart ride away from the Residents’ Beach Club as well as the Punta Mita Golf Clubhouse, and just minutes walk to two of Punta Mita`s most spectacular Pacific Ocean sandy beaches.
This three-bedroom villa features 3,777 square feet of luxurious indoor/outdoor living areas, and borders the fairways of the Pacifico Jack Nicklaus Signature golf course at the Punta Mita Golf Club. A Brisa model, it embodies the open-air lifestyle of Punta Mita. 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 plunge 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 additional bedroom. Throughout the villa is fine stone flooring, and adjacent is an enclosed garage with space for a large luxury car, golf cart, and storage. Las Palmas Villa #7 has recently has its listing price reduced to $1,250,000. View it now at: Las Palmas Villa 7
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El Encanto Residence #2– 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.
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 is priced at $3,150,000. View it now at: El Encanto Residence #2 |
Additional special opportunities are available in the Punta Mita, Punta de Mita, Los
Veneros and other beach front Costa Banderas communities. For additional details on either of these special opportunities, or to schedule a viewing, contact Riviera Partners Realty Punta Mita at: sales@rivierapartnersmx.com
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Feature Properties for Rent:
Las Palmas de Punta Mita; Villas number 2 and number 14 plus other selected properties are available from September 1st through Riviera Partners Realty here in Plaza Ollin, Punta Mita.
Book now, and enjoy a special Fall Rental offer at the acclaimed community of Las Palmas Club & Villas Punta Mita, in two signature residences, Villa 2 and Villa 14. Riviera Partners Realty is offering a special rate of $750 USD per night, in these 3-bedroom private villas (offer expires November 20th 2009). Las Palmas is located in the heart of the Punta Mita resort community, just a 5-minute golf cart ride away from the Residents’ Beach Club or Punta Mita Golf Club. Just a short walk from either Villa 2 or Villa n 14 and one arrives at two of Punta Mita’s most spectacular Pacific Ocean sandy beaches.
These three-bedroom villas feature over 3,800 square feet of expansive indoor/outdoor living areas, and embody the open-air lifestyle of Punta Mita. Both border the fourth fairway of the Pacifico Jack Nicklaus Signature golf course at the Punta Mita Golf Club, with views across to the famed “Tail of the Whale” island hole.
The single level, 3-bedroom, 3-bath homes feature 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 third bedroom. Included is satellite TV and wireless Internet access
These homes are ideal for those wanting to explore Punta Mita’s real estate opportunities, or for those wishing to visit Paradise for a well deserved holiday. To reserve, please contact Nancy Bravo, at: nancy@rivierapartnersmx.com.
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Mexico Mortgage Financing Report,
by Meridian Capital Partners
Mortgages: Staging a Comeback? Lenders issued an estimated $1 trillion worth of mortgages during the first half of 2009, according to Inside Mortgage Finance. During this period, the (U.S.) Federal Reserve cut interest rates to record lows, which prompted hundreds of thousands of borrowers to take out cheaper loans.
The Mortgage Bankers Association (MBA) confirms that in the U.S., demand for mortgages has bounced back from seven-month lows. Mortgage loan application volume has been increasing in recent weeks, as tracked by the organization’s weekly survey.
The average 30-year fixed mortgage rate trended upward to 5.24% for the week ending August 21. That was up from the record low 4.61% in late March, based on MBA data, but sharply below rates of over 7% a year ago.
Refinancing applications have been accounting for a large share of the volume, and accounted for 56.5% of total loan applications for the week ending August 21.
We are also seeing encouraging signs of stability in housing sales. While increases are appearing in both existing home sales and housing starts, it may be too early to call this the start of a recovery, but it is refreshing to see positive indicators after so many months of negativity. As the Meridian Capital loan programs for Mexico resort properties are U.S. based loans, in U.S. dollars, with a U.S. Bank, they closely track the U.S. mortgage market.
With home loan rates at such low levels, and home sales increasing, this is an ideal time for potential buyers to consider action on acquiring the resort residence they have been thinking about. Our clients are also contacting us to evaluate financing their existing property in Mexico, in order to pull cash out of this asset in their portfolio, while rates are so attractive.
Our view of financing encompasses not only the transaction itself, but also how this property acquisition fits into your overall strategic financial goals, such as current income requirements and estate planning. As you investigate real estate opportunities in Mexico, we encourage you to consult with Meridian, to evaluate the very best way to make this transaction work to your financial benefit. We invite you to visit our website and view our blog on Mexico financing at: http://www.MeridianMexico.com.
Contributed by Meridian Capital Partners LLC (MCP). MCP’s sole focus is to assist affluent individuals interested in financing a primary, second or investment home in Mexico.
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Feature Resort: St. Regis Offers VIP Travel Package for Canadian Pro Tournament, September 29-October 4
The new St. Regis Punta Mita Resort, an official sponsor of the Riviera Nayarit Classic, is welcoming golf enthusiasts to the Resort with special Canadian Professional Golf Tour "Pro-Am VIP" packages.
A variety of VIP suite packages are available, beginning at $605 USD per night. These Suite packages include daily breakfast for two, signature St. Regis Butler service around the clock, participation for one in the Pro-Am Tournament event on Wednesday, September 30, roundtrip transportation to and from the Puerto Vallarta International Airport, dinner for two at the resort's highly-acclaimed signature restaurant Carolina (exclusive of alcohol), two customized massages at its renowned Remède Spa, and a St. Regis golf shirt, cap and golf balls.
All rates are per suite, per night excluding 18% tax and 10% service charge. A five night minimum stay between September 27, 2009 and October 6, 2009 is required and the package is based on availability. For reservations or information call (+52) 329-291-5800 or visit www.stregispuntamita.com.
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 Riviera Nayarit Classic Canadian Tour Golf Tournament set for September 28-October 4, at Club Punta Mita
The Punta Mita Jack Nicklaus Signature course Pacífico will host the Canadian Tour at the Riviera Nayarit Classic golf tournament from September 28 through October 4, 2009. More than 120 pro players will participate. A Pro-Am Tournament day is scheduled for Wednesday, September 30, as part of this exciting event. Fee to participate in the Pro-Am is $100 USD + IVA for Club Punta Mita members, and $300 USD + IVA for non-members (a maximum handicap of 22 applies). Participation in the Pro-Am includes a Welcome cocktail at the Four Seasons on Tuesday evening, as well as an Awards cocktail reception on Wednesday, following play, to be held in the Golf Clubhouse garden.
Practice rounds for the Pros will be Monday and Tuesday, with tournament play beginning on Thursday, October 1 with the full field of 120 players. The cut to the finals will take place Friday evening, after which the top 60 players will compete for $125,000 USD in prizes. The tournament winner will be announced on Sunday evening in the closing ceremony on the 18th green of the Club Punta Mita Pacífico course. For additional details, to register for the Pro-Am, or to volunteer, contact Club Punta Mita Golf Pro Phil Ferrari, at: phillip.ferrari@fourseasons.com ; or the Punta Mita Clubhouse, at (+52) 329-291-.6065.
Marina Riviera Nayarit News
Take advantage of the following entertaining and fun-filled activities offered by Marina Riviera Nayarit in La Cruz, designed to bring people together to enjoy the nautical life…or simply the view! Activities are open to the public.
- Every Tuesday, at 7 pm, in the Etupa VIP Lounge – Dominos Night! 2-for-1 drinks, snacks, and dominos, in air-conditioned comfort.
- Every Friday, at 8:45 pm, in the VIP Lounge – Movie Night – Popcorn, soft drinks, beer and more.
Looking ahead, the Marina is proud to announce they will be the official venue for the “Copa Mexico”, which is part of the Mexican Independence Bicentennial celebration. Taking place next February and March 2010, this will include the “MEXORC (Mexican Ocean Race Circuit) race, featuring the largest American and Mexican sailboats racing in Banderas Bay, as well as a J24 class race, and Windsurfing & kitesurfing championship.
The Marina boasts over 350 slips, ranging in size from 31’ to 400’, with a complement of full services for every slip. As well, the Marina’s open-air restaurant, Ikuai, is open daily for breakfast, lunch, and dinner, from 8am to 9:30pm, and is open to the public.
Every Wednesday, Ladies enjoy two-for-one breakfasts!
For more information on Marina Riviera Nayarit, visit www.marinarivieranayarit.com, or call them at: 329/295-5526.
Plaza Ollin Update!
Plaza Ollin, will be open throughout the summer months.
Plaza Ollin 2009/2010 Social events: Stay tuned for our winter event calendar to be announced in our October newsletter. This coming high season, Plaza Ollin will be hosting bi-monthly social events for all local residents, guests, friends, visitors and hotel guests to get to know one another and enjoy what our community has to offer. Our first event will be held on Wednesday November 25th, 2009, don’t miss it!
Plaza Ollin is located on Ave. de las Redes approximately just 100 meters from the second entrance into the Punta Mita community on the main street accessing the beach front restaurants and beach areas. For more information contact Plaza Ollin at (+52) 329-291-5442 or 329-291-5402.
Mar de Suenos boutique has some great offers available at this time, so come on by and pick up something new for the summer!
The Boca Deli is now open for breakfast and lunch and is now offering a more complete menu. Come by for a fresh juice, tasty sandwich or try the delicious lunch menu!
The Linen Club - offering the most exclusive luxury linens and everything you need for your home here in Paradise.
Contact Information, Plaza Ollin:
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 By Jonathon Smart & Sebastian Melini
Surfing, Sailing and more Ocean fun: The summer swells have now begun rolling in, and surfers are happy all over the northern Bay of Banderas and out along the Pacific coast of Punta Mita and beyond. The water is warm and the waves are more consistent at this time of the year, so there has never been a better time to learn to surf! There are several good surf school in the Punta de Mita village to choose from—they will get most everyone up on their feet within a class or two, and once you catch that first wave you will surely be hooked forever. Surfing is all about catching the wave and embracing the power and energy of the ocean. The excitement of that first ride never fades, and with every wave that one catches, the more one wants to get back in the water again for another warm Pacific Ocean session. For more information on surfing, windsurfing, kite surfing, and other ocean activities feel free to contact me or Wally, at Riviera Partners Realty; we can point you in the right direction for lessons, board rentals and/or we can go and catch a few waves together!
Diving & Fishing: With humidity levels making 90-degree temperatures (32 degrees C) feel more like 100 degrees, the ocean’s calling couldn't be stronger. Summer and fall currents bring incredibly blue water and a rush of spectacular marine life. Tuna, Marlin, Wahoo and other fish move onto the area’s outer reefs joining the resident game fish in their tropical feeding frenzies. And, up to 100-ft. visibility allows divers and snorkelers a chance to get up close with Sea Turtles, Giant Pacific Mantas, Octopus and Eagle Rays, just to name a few favorites. The summer rains also make for muddy terrain that put ATV's to the test—making for an exciting ride! For more information on these and other adventures in paradise, contact Punta de Mita Expeditions, http://www.puntamitaexpeditions.com , (+52) 329-291-6649.
Tennis: Tennis Pro JP Mahony has now started “Tuesday social men’s night” at the Punta Mita Tennis Club. We have started with a great group, some beginners, a few intermediates and one or two advanced tennis players, all with one goal in mind, to go out and hit some great rallies, meet some new tennis players, sweat and HAVE FUN! For more information on these fun Tuesday social men’s nights please contact me and I will put you in contact with our local Tennis Pro, JP.
Jonathon@rivierapartnersmx.com / (+521) 322-105-0243
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