Puerto Vallarta Real Estate
|The Coldwell Banker La Costa Realty Newsletter|
Coldwell Banker La Costa Realty
go to original
December 27, 2010
An in-depth analysis of the current condition and trends of the Puerto Vallarta Real Estate market in addition to a feature on Villa Azul, on of the most stunning residential architectural masterpieces in Conchas Chinas just South of PV.
Current Market Up-Date
The Mexican economy and its levels of foreign reserves continues to hit new highs with the level of inflation continuing to drop. The export sector has increase so far this year by over 35% with auto exports up by 80% (one in 5 new cars sold in the US is made in Mexico). With these increases, Mexico is now the second largest exporter of manufactured goods to the US, supplanting Canada.
At the same time the Mexican Pesos has depreciated by about 20% since the collapse of Lehman Brothers. This combined with the stabilization of salaries has allowed the country to gain competitive advantage against China. On the other hand, Chinas currency continues to appreciate, their salaries have quadrupled over the past 10 years and the cost of transporting their goods to markets has been increasing. This is all leading to further competitive gains by the Mexican economy against one of its major competitors in the manufacturing sector.
Did you know that the respective homicide rate in the cities of Washington, Detroit and New Orleans is 31.4, 33.8 and 90 per 100,000? Mexico? - 11.6 (2008/2009)! Nothing like a little perspective, no?
The overall real estate market for the Puerto Vallarta area for the month of November set some extremely interesting records – and for once in quite a long time – very positive ones. Most notably were two very large residential real estate sales – both all-time records – and each one was virtually in opposite ends of the bay! The first one – which was the highest price paid for a ‘single family’ residence took place in the Ranchos area of Punta Mita - $8.5 million US. The other on the South Side of Puerto Vallarta just south of the Garca Blanca area for just over $8 million US – again an all-time record for the Puerto Vallarta area!
So, what’s going on here? Well it seems that sometime around the end of October it’s almost as if somebody out there flipped a switch on this market and the market virtually lit up. With over 18 months of betweeen 5 to 7 sales per month (MLS Vallarta) there has apparently been a large pent-up demand building that has resulted in a tremendous surge at the end of our ‘low’ season. A lot of people have seemingly been waiting and waiting to make their move on this market and it appears as if the collective opinion was that the market is not going to get much better from a buyers’ perspective and that now is the time to make the move. In any market shift like this, of course the best opportunities go first in terms of location, quality and price (not necessarily in that order). While we are collectively holding our breath for this trend to continue, it would seem that there is no sign of letup given the slowly improving US economy combined with the robust Mexican and Canadian markets we continue to experience. This trend has continued through December as well.
Has the demographic changed recently? On a quick check of our current escrows it would appear not – 33% US, 33% Mexican, and 33% Canadian (with one Spanish). The US buyer continues to be pressed economically with the slack in the market being picked up by the Canadian and Mexican buyer quite nicely it seems.
One of the signs that we have passed the bottom of the market is when people stop asking if we have hit the bottom yet. We haven’t heard that question for the past 3 months...
Featured Listing! Villa Azul in Conchas Chinas
While the Bay of Banderas has many phenomenally beautiful locations, it’s pretty hard to beat the jaw-dropping spectacular views of Conchas Chinas! Villa Azul – nee Casa Carneros is one of those grande villas that takes full advantage of that fact.
Designed and built by truly gifted and re-known Edward Giddings, Villa Azul virtually clings to the hill-side. When Ed built the famous Ocho Cascadas in the late 70’s it turned out to be so spectacular that he decided he would build an equal for himself right beside Ocho Cascadas – Casa Carneros. That was until he was persuaded to sell it to a couple from Texas who were the first owners.
With all the classic Ed Giddings signature touches throughout – palm frond configured ceilings, curving architecture and stair-cases, hand crafted animal figures adorning niches and balustrades – all in striking alabaster white plaster finish, the contrast against the blues of the pools, the ocean and the sky is mesmerizing.
Located in what is probably the key view focal point (knowing Ed he would never have settled for less!) of Conchas Chinas this gorgeous home has a total of 4 view bedrooms in the main property with swim-up pool bar no less. It also has two separate 2- bedroom casitas below the main home with separate entries and equal views, each with their own separate swimming pools as well.
Casa Carneros is one of Vallarta’s classics and should be seen just for the experience!
Priced at $2.45M. By appointment only with Donna Davies donna(at)cblacosta.com
TOYS 4 TOTS
Every year we try to reach to all our good friends and customers via this Newsletter to appeal to them for donations for the annual Toys 4 Tots charity event held each year. Together with a handful of high profile sponsors, the Marriott Hotel Villa Magna here in Puerto Vallarta manages the event with the backing of the PV Chapter of the Navy League.
This year the annual Toys 4 Tots Golf Tournament at the Vista Vallarta Golf Course saw 104 participants. The Gala Charity Dinner at the Casa Magna Marriot following was also a great success! Golf Course and Dinner venue are all 100% donated! Virtually all proceeds from the funds raised go directly to the purchase and distribution of the toys to the kids as well as to the creation and maintenance of several playgrounds that the event has been able to provide.
The toys are distributed on the Day of the Kings – which is January 7th – to impoverished families and children in some of the poorer areas around the Puerto Vallarta area. Seeing the smiles and excitement on the faces of these beautiful kids is something truly emotional! I would like to invite you to be a part of this annual giving event and help make some of these poor children a little happier. Donations can be made at the Coldwell Banker La Costa office which is located in Marina Vallarta at Local 24 at the foot of Calle Ancla – for directions: Click Here.
If you are writing a check, please make it payable to ‘The Puerto Vallarta Navy League A.C.’ or cash in an envelope with your name on the outside together with ‘Toys 4 Tots’ will also work. If you wish to have a US tax receipt, please mail your check payable to "Navy League of the U.S.", a 501(c)3 organization. Please include a short note to the effect that the donation is intended to benefit the Toys for Tots program run by the Navy League Council in Puerto Vallarta. You should also write in the memo section of the check "please forward this donation to the Puerto Vallarta Council."
The check in the U.S. should be sent to:
Navy League of the United States
Attn: Howard Siegel
2300 Wilson Blvd., Suite 200
Arlington, Va. 22201
Thanks in advance for any assistance that you can give in the knowledge that you will bring many days of happiness and smiles to the faces of some kids that otherwise have no memory of what Christmas can be.
From all of us at Coldwell Banker La Costa Realty, we truly wish you a happy holiday season!
Coldwell Banker La Costa Realty was the first Coldwell Banker franchise in Mexico and has 24 years of leadership in the marketing & selling of prime Puerto Vallarta area properties at all price points. Our highly trained and experience agents constantly strive to deliver beyond our customers expectations - in English and in Spanish!
Calle Ancla at the Malecon, Marina Vallarta
Call Toll Free 866-978-8060 / Local phone: 52-322 223-0055