December 2005 was a different time in Punta Cana and the Dominican Republic. At that time, the Punta Cana and Dominican Republic real estate markets were experiencing what some would consider atypical growth.

Demand was far greater than the supply, a thriving influx of international buyers, lowest interest rates in the history of the Dominican real estate market, both US dollars and Dominican pesos, national and international economic stability, high rental income, mega tourism developments sprouting like wild flowers, international financing, bonds were issued, free favorable press, and tourism numbers at an all time high. Buyers were looking for anyone developing or selling near the tourism hubs of the island.

Those were the good ol’ times! It was about being in the right place at the right time.

Many considered that there was no reason for the Punta Cana and Dominican Republic not to be known as the “Home of the World”; however, it was also emphasized that it was imperative for the real estate industry to take some necessary measures in order for development to continue in an organized fashion.

Fast forward to the end 2008. Today, the real estate industry is also experiencing a completely atypical situation, which unfortunately can’t be called positive, but can’t be called negative either. It is going back to what is considered a normal, standardized real estate market. Supply and demand more in balance than in years past.

Any real estate developer can tell you that it is not normal to sell an entire development in less than a year. Normal would be for at least two years to sell a small to medium size development and perhaps more time on the larger more ambitious developments within closed gated communities. Of course, it is normal to think that things are cooling off after coming out of the “BOOM” we have been experiencing for the past few years. Instead of cooling off, I would call it business as usual, going back to normal, supply and demand in equilibrium!

At the moment it is important to sit down and analyze the “foundation” of our market as we take the necessary corrective measures based on lessons learned.

First, let’s look at the foundation. Why the Dominican Republic? Why Punta Cana? What makes us so special? Why are Punta Cana and the Dominican Republic relevant investment markets? Why alternatives for second home buyers? Why should it be considered ideal places for retirement?

• Excellent geographical location that allows us to have year round tropical climate. The cold countries remain cool.

• We continue to have some of the best white sand beaches and turquoise colored crystal clear waters

• Legal Framework – No Restricitions for Foreigners, Equal Ownership Rights

• Economic Stability

• Social Stability

• Personal Safety, Dominican Republic crime rates are low in comparison to other Caribbean Neighbors

• Modern and adequate transportation and telecommunications infrastructure (airports, seaports, highways, telephone, internet). There is room for improvement, but we are headed in the right direction.

• Extensive complementary offer (water sports, golf, restaurants, grocery stores, resorts, casinos)

• Ecotourism

• The Dominican People – Always friendly and hospitable!

Beyond these points, we must recognize that there has been encouragement for foreign investment by the local government. Foreign direct investment more than doubled in 2008, according to statistics from the Center for Exports and Investment (CEI-RD). Investment in 2008 totaled US$2.35 billion, for a 55.1% growth from 2007.

Just last week, December 12, 2008, Dominican Republic President Leonel Fernandez broke ground for US$1.4 billion dollars VistaCana Resort & Country Club in Punta Cana. President Fernandez and the project’s main promoter, Salvador Termín headed the groundbreaking ceremony, with Tourism minister Francisco Javier Garcia also present. Mr. Termin spoke about the world crisis we are experiencing, and emphasized that they have prepared themselves for the crisis. “We have decided to continue to invest, since that is what we do. We believe in the Dominican Republic since it continues to be a safe place to invest with lower risks in comparison to other places around the world”.

Venezuelan investors began construction of the tourist complex on six million square meters of land. The complex will have 6,000 residences, a 100 room business hotel, a 27-hole golf course and a 180,000 square meter artificial lake integrated to the beach area, and built at a cost of arond US$1.4 billion dollars. This will bring 20,000 new jobs to Punta Cana when concluded.

President Fernandez said “this development is proof that within the global crisis that we live today, foreign companies like the developers of VistaCana, testify that the Dominican Republic still has economic and financial security for world wide investors, developers and end users alike. 1,500 homes have been purchased by an investment fund for North Americans retirees out of Washington D.C. plus more than 200 units sold to individuals.” President Fernandez added that in addition to VistaCana, just last week he was in La Romana for the groundbreaking event for the mega development Playa Nueva La Romana by Spain’s Grupo Piñero, owners of the Gran Bahia Principe Resorts. This represents US$2.5 billion dollars in foreign investment. In addition, in the coming days, President Fernandez will be alongside the Prince of Monaco, in the groundbreaking ceremony for Punta Perla located in Cabeza de Toro near Punta Cana, with another US$1.6 billion dollars in foreign investment from the U.K.

That is a total of US$5.5 billion dollars of foreign investment in the month of December alone for the real estate industry. These are big numbers from world wide known companies and investors that have very deep pockets to conduct feasibility and market studies. They have decided that the Dominican Republic is the safest place with the best investment opportunities in the Caribbean and perhaps the western hemisphere.

In addition to encouraging foreign investment, local government has achieved:

• Enactment of new laws that attract retirees and baby boomers. Incentive for pensioners and annuitants

• Reduction of taxes related to real estate

• Firm decision to improve communication infrastructure to the tourist areas

• Efficient and better system for the approval of new developments

• Public sector working hand in hand with private sector to help develop joint activities aimed at strengthening the real estate industry.

We can say that without a doubt we have a solid foundation for sustained growth in the real estate industry; however, no longer is location, location, location the most important part of deciding where to buy real estate in the Dominican Republic. Investors and buyers alike are looking for security, security, security.

First and foremost, the security and safety of their investment. Investors and buyers understand that property acquired in the Dominican Republic is not going to suffer the effects of devaluation that other world markets have experienced. This is for several reasons:

• Historically in the Dominican Republic property values have always tended to go up and never down

• The Dominican Republic does not have a secondary market for the marketing of securities where good and bad mortgages come together. We all now about the USA mortgage mess that has property values on a downward spiral.

• Given our past experience with the banking system, the mortgages could be considered “healthy”, meaning that the market value of the property exceeds the value of mortgage.

Second, security of ownership rights, of course. Foreign buyers are guaranteed the same rights as those available to Dominican buyers.

Third, security of return on your investment. Real estate-tourism products have the potential to generate revenue because they can be rented to employees in the tourism sector and also because each day is further developed the so-called “residential tourism.” Refers to those tourists who prefer to rent a villa or apartment to take a more familiar experience and learn more about the area of access.

What do we need to do as industry leaders and real estate professionals?

• Find end users: Avoid clients who seek an immediate capital gain. This refers to buyers/flippers who have neither the intention nor the ability to close on the real estate transaction. The best way is to ask for a significant down payment that the buyer/flipper will lose if decides to walk away from the real estate transaction.

• Pre Qualify Buyers: Provide the buyers with the proper forms and contac information for pre qualification with local banks. This will prevent from future headaches in the future.

• Perform target marketing plans for buyers and investors required for the particular development.

• Carry out strategic alliances with government institutions to promote the Dominican Republic as a tourist destination, not just a real estate destination.

• Join forces with high profile tourism developments for further commercialization of the Dominican Republic.

• Be aggressive in marketing products in more than one way: create alliances with international real estate agencies, non traditional advertising, speaking engagements, eMarketing, and so on.

The most important thing is to understand that we have a good product. We are in a cycle of the market where change is inevitable and considered normal. There is no need to panic. Punta Cana and the Domincan Republic have become world destinations. We still have many great years of selling Punta Cana real estate and Dominican Republic real estate. We just need to roll up our sleeves, continue to work with ethics, be honest, creative and pro-active. We have no doubt, sooner or later Punta Cana and the Dominican Republic are destined to become the HOME OF THE WORLD!

We expect many good things to come in 2009 and are very positive that we will make a difference and separate ourselves from the rest of the crowd.  With the alliances that we are forming with real estate agencies from around the world, we will definitely position ourselves as the #1 real estate company for developers, buyers, sellers and investors that are looking for the right company to assist with buying or selling real estate in Punta Cana and the Dominican Republic. Hope we can be of assitance in 2009!  We will help you find the right home in Paradise!

La Costa Destinations International Realty provides detailed information about Punta Cana real estate, resorts, hotels, beaches, golf courses, weather, and the Punta Cana international airport. Dominican Hospitality & Market Knowledge with American Business Standards. Your #1 source for Punta Cana realty. Visit http://www.GoPuntaCanaRealEstate.com, home to the best realtors in the Dominican Republic.

Scott Medina
http://www.articlesbase.com/real-estate-articles/punta-cana-and-dominican-republic-real-estate-what-to-expect-in-2009-686762.html

There are lenders out there who give what are referred to as bad credit mortgage loans, if you are experiencing financial problems, a situation that is common to many people everywhere. Possibly you recently just got divorced, lost your business, had large medical bills, or maybe you have had too many credit cards and now the balances are out of control. In all likelihood, things like this may have caused your credit rating and FICO score to drop. Sometimes setbacks happen in life, but there is hope if you still must get a mortgage to buy a home or for other reasons.

There are a number of reasons which contribute to poor credit, damaged credit or bad credit, all of them with almost the same effect as having no credit at all. When a credit check reveals a low score or a questionable credit history, it is more likely that lenders will reject your home mortgage application. So, if you cannot qualify for a regular home mortgage, bad credit mortgage loans come into play to rescue you.

There are many lenders and brokers willing to help people who want to refinance or apply for a home mortgage but do not qualify because of a poor credit history. These loans are usually more costly than regular home mortgages but you can switch to a better option when your credit and finances improve.

Buying a home involves a large disbursement so before you apply try to repair your credit first as much as you can. Although, there are companies which specialize in helping you out in this matter, never trust in organizations that promise to erase your bad credit, or create a new credit identity for you. Self help is your best aid for fixing your finances and your credit history and it is not that hard to achieve.

Bad credit mortgage loans are available for those people whose credit (FICO) score is less than 650, although most banks or financial institutions will let you know that you need a sub-prime loan. Due to the nature of their offer, most lenders are open to work with borrowers with challenged credit, to find the right mortgage and terms for them.

It is a good idea to begin to repair your credit by paying your bills on time, and reduce the number of credit cards that you carry. Remember that late payments are as bad as not paying, and have the same negative effects on your credit score.

Try at all costs to avoid bankruptcy, and do no expect to receive better bad credit mortgage loans, if any, after declaring your bankruptcy. For lenders it is a somewhat risky situation in their eyes to loan out money to someone with damaged credit. Obviously, what they are worried about is whether they will get their money back in case you cannot make the monthly payments.

This is one of the reasons why you will have to pay a higher interest rate and possibly abide by other rules, in this situation. But, if you have a recent track record of paying debts back on time, to credit cards or other lenders, that will certainly help.

There are a large number of resources online for both learning more about credit repair, and finding the right type of loans, according to the borrowed amount and your capability to repay your debt. Also remember that in addition to higher interest rates, some creditors may require collateral or a co-signer to secure the deal.

After doing your research for bad credit mortgage loans, either online, in the newspaper, or yellow pages, contact at least five lenders to compare their offers and get the best option within the limitations of your financial condition.

Ken Black
http://www.articlesbase.com/mortgage-articles/bad-credit-mortgage-loans-are-they-possible-59880.html

Freedmont Mortgage CEO Carl Delmont explains the good and bad of today’s mortgage climate, including what it means when you’re upside-down on your home investment

Duration : 0:4:16

(more…)

Technorati Tags: baltimore, carl delmont, freedmont, Home, maryland, mortgage, mortgage company

http://autorefinanceloanrate.org/

2-3% refinance loan rate

Duration : 0:0:38

(more…)

Technorati Tags: CalculatorMortgage, equity, LoansHome, LoansRefinance, MortgagesMortgage, RatesMortgage, RefinancingMortgage

We are not Lenders – but we do watch your “six” when it comes to us helping you purchase or sell a home. So, we have access to Lenders and their Services and Remember that you do not pay a Realtor Fee when purchasing Real Estate – our fee is always paid by the seller – with a small exception and that is a GNND (Good Neighbor Next Door Property by HUD http://GNND911.com) – So, you need someone that is going to do the most for you and your hard earned Monies.

Here we go, here is information on the Cal Pers which can be utilized by some Law Enforcement and Educational Professionals.

Cal Pers Selling Features

Competitive Interest Rates- We offer competitive rates on a variety of loan options to meet your individual needs. Rates are posted daily on the Cal Pers Web Site www.calpers.ca.gov

60 or 90 Day Rate Protection- Members may lock in their interest rate for 30, 60, or 90 days and receive protection against market increases and get 2 float down opportunities.

Two FREE Float Down Opportunities- With the 60 or 90 day rate locks, Members receive the lowest CalPERS interest rate on three key dates: 1) Date of the Loan Lock-in 2) Date of loan approval; and 3) Date the loan documents are drawn.

Controlled Closing Costs- CalPERS minimizes some of the fees involved with the home loan, making the CalPERS loan very affordable.

100% Financing Option- We offer various options for your clients to purchase a home with no “out-of-pocket” costs for the down payment.

Reduced Mortgage Insurance Rates- Through CalPERS members receive greatly reduced Mortgage Insurance Rates

Reduced Escrow Title Fees- Members can receive substantial savings on their escrow and title fees, offered by both Old Republic Title and Stewart Title.

Closing Cost Assistance- CalPERS member can use premium pricing interest rates, a gift from a relative and/or seller contributions to pay for closing costs

Personalized Real Estate Assistance Programs- You can take advantage of personal assistance with your real estate transaction and get a cash rebate, for closing costs with Max Advantage through REMAX

Premium Pricing- allows the member to accept a slightly higher interest rate and receive funds to help pay for closing costs and/or mortgage insurance. This helps members who have enough income to qualify for a home loan but lack some of the funds needed to close escrow.

As always – we are RE/MAX of Santa Clarita and if you want to see what we are about – go to http://Paris911.com

Mobile post from Utterli.com. More at http://www.utterli.com/u/utt/u-ODA3ODkzOA

Duration : 0:1:57

(more…)

Technorati Tags: CalPers, connormacivor, connorwithhonor, lawenforcementrealesta, lending, realestateforcops, realestateforeduca, Utterli