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

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Lets say you have $5000 coming in per month, how much is a safe amount to spend on a mortgage, while still saving some for car payments, other loans, insurance, groceries, emergencies, etc? My dad said a 1/4 of your net income is a good idea per month to spend on your home payments…agree? disagree?

Your father is exactly correct! Listen to him! The people on here that recommend, 33% as a mortgage payment are also the ones who have contributed to the mortgage crisis in this country today! 33% of your net income is too much. It doesn’t leave you any buffer.

Our Little community of rocky point has experienced an incredible ride. It has become known internationally as a tourist destination that will continue to develop into the future. The majority of the impressive growth has been led by the sales of condos, single family homes, and even raw land. There are several strong indicators that the positive growth cycle will continue, placing us on even more radar screens. Simply ponder the amount of time and money put into studying growth trends; market futures; and touristic patterns, by any major hotel group when looking to invest millions in a new destination market. Now think about these researchers representing the Marriott hotel group. The Marriott Penasco Bay is a 28 story 265 room four diamond resort. This is such a huge statement as they obviously didn´t choose Puerto Penasco overnight, or without knowing something. The feasibility analysis done by an empire like Marriott looks into so many aspects of the demands of seasoned first class travelers, that if Penasco was not positioned for stardom we would not see their logo on our horizon.

Another impressive indicator of international success is the selection of Rocky Point has a major home port for several large cruise ship companies. Representatives from cruise lines like Holland America, Princess and Carnival have all been here, and Mexico´s federal government has approved Rocky Point as a major hub in a joint effort as the result of many discussions among the experts. We have been receiving a lot of attention from the leaders of Mexico and many of Mexico´s most prominent investors. Obviously now, investors from all over the world have been watching Puerto Peñasco, Mexico.

Studies indicate that the future looks bright here because Rocky Point sits less than four hours from several major U.S. metropolitan areas with proven retirement markets. Take the similar climate to those already respected, retirement magnates add our beautiful beaches and lower cost of living and one starts to see where the excitement is coming from. The huge number of soon to be retirees speak volumes in terms of future demand. This group of over 25,000 people a year is an astounding number looking to retire. Between now and 2025, there will be a baby boomer retiring every 16 seconds. While 2030 will be the peak year of boomer retirement, the first year of baby boomers (born in 1946) turn 62 this year; many of which are now retiring and taking advantage of a record level of leisure income. Many of these people will look to the beaches of Mexico to spend their golden years. The draw of rocky Point is that it is one of the few superb beachfront markets that will support both drive-in traffic and air travelers. There are many dynamics of this that will lead to a surge in retirees. To many, the close proximity to large U.S. cities, where they can go to monthly appointments or various hometown cultural events is important. The airlines will allow other family and friends ease of access. Many have already discovered that while the healthcare system in U.S. continues to struggle, Mexico´s healthcare is rapidly accelerating into one worth the trip south. One can expect the advances in Mexico´s healthcare to continually draw visitors south more and more. With insurance providers now servicing so many from the north, more large companies will enter the market, and the cycle here will continue to expand as the international audience grows.

About ten years ago there were no condo projects with more than 100 units. In 2000 there was only one project of any large scale. This all changed, and now Sandy Beach alone has about 3,000 condos sold, and over 30 condo towers have been completed. The feeding frenzy was wild and we enjoyed a great cycle as the town morphed itself into a resort destination. Then, because the economic situation affecting so many investors, we shifted into a buyer´s market. It would be irresponsible to say that the correction period has fully completed its course as no one has found that crystal ball yet. It would however be safe to say with confidence that there are some great bargains to be found in the Rocky Point area. Plain and simple, there are people that need out. Much like the buyer´s market sought after by successful investors in so many U.S. communities, we are ripe for the next phase of our cycle. There are properties in every market segment that are priced many thousands of dollars below the ¨List Prices¨. You just have to know how to find those bargains. It truly does come down to representation. Who is representing you? In Mexico, like in the United States, there is a National Association of Realtors. In the last few years we have come along way in regards to communication, ethical practices and working on the development of an MLS system. It is because of this and our mandate that all of our members are licensed, that we have been welcomed into NAR, the same international organization you would likely seek for representation in the U.S. In order to truly guarantee satisfactory representation you need to secure the representation of an AMPI professional. AMPI agents are NAR Realtors, registered at the state level, and are the only real estate association endorsed by the federal government.

Historically, Rocky Point Real Estate is one of the safest investments you can make as it is scarce by nature. No more land will be created. Even more scarce is land found near the beach. This is way in the long term, Rocky Point is destined to be an international real estate success story, and the big money is already starting to see the opportunity.

There are new improved mortgage money programs with reasonable rates allowing people to take advantage of the current opportunities. Some people are turning self directed IRAs into real estate investments in and around Rocky Point. Others have chosen to split ownership on properties with friends, family members or other investment groups. There are even reverse mortgages out there allowing homeowners to simply turn equity from one home into equity in another. If one truly wants an investment that they can enjoy Puerto Peñasco is certainly a worthy alternative to the less than predictable stock market.

Within a year, an international airport will be open in Rocky Point and a new costal highway will extend south and east from Tijuana , through Rocky Point, to beyond Guaymas. These geographic factors alone will bring many thousands of new visitors to this area, and a profound positive influence on the economy. Rocky Point is a great place for anyone interested in owning a second home or a secure investment that allows one to stay at and enjoying their portfolio.

Author: RealtyExecutives Mexico

Steve Schwab
http://www.articlesbase.com/real-estate-articles/major-indicators-bright-future-of-puerto-penasco-717924.html

(PART 1 AT THIS LINK) http://www.youtube.com/watch?v=ybKI24JYNSw
Why would, almost non-yielding Treasuries, be a safe haven, when the government is broke? We would guess that, when a US dollar collapse comes, that owners of such bonds, notes and bills would like to lose equally what everyone else holding these debt instruments loses. We call it a commitment to stupidity. Those that see the folly in such action switch their cash flow to commodities, gold and silver. From a rational point of view such a switch is logical.

Needless to say, central bankers, government bureaucrats and politicians get upset when investors engage in such alternatives and proceed to manipulate markets to their own satisfaction to the detriment of the people. We have to wonder what is so attractive about owning debt that pays little or no interest? In order to avoid such a dilemma one must step out of the box and separate themselves from the investment sheeple.

Over the past three years the Federal Reserve has purchased $2.25 trillion of Treasuries, Agencies and mortgage bonds known as toxic waste. We have no idea what the cost of this debt was and what its current value is marked to market. All we know is the Fed has debt on its books of some $3 trillion that they admit too. The Fed operates in secret and when asked difficult questions about its operations it says it is a state secret. Fortunately the court system and Dodd-Frank have uncovered some of these…

http://theinternationalforecaster.com/

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A reverse mortgage is a really great thing if you have lots of equity in your home, and you don’t have very much liquidated cash to enjoy your retirement. My mother had a house paid in full in Santa Barbara, CA but was living off of social security checks. I helped her get a reverse mortgage loan from Financial Freedom. Then she was living life to the fullest until she passed away 6 years later. My siblings were livid when they found out she got that loan, because they thought she would eat up their inheritance. But she sure loved life those last years of her life, going to the off-track horse racing, bought a new car, new hi-def tv, remodeled her kitchen with Viking appliances. So, yes it can be a very good thing. But you must remember that it is basically selling your house slowly back to a financial institution. If my mom would have lived long enough, my brother and sister (and me) would not have inherited a dime, but that was ok with me.

Anyways, you can find some info and resources about reverse mortgages here:

http://reversemortgageresource.blogspot.com

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