Latest Articles by sgreene

Condo Hotels Appeal to Baby Boomers Seeking a Vacation Home

Tue, 04 Sep 2007 00:00:00 -0500

Baby boomers interested in buying vacation homes are now considering one of the latest trends in second home ownership: the condo hotel.

Condo hotels are a type of vacation home. They are typically located in resorts operated by some of the top luxury hotel chains, such as Marriott, Ritz-Carlton, Hilton, and Trump International, to name a few.

These upscale second homes made their debut in Miami, but the condo hotel trend has now spread across the country to markets like Orlando, Las Vegas, Chicago, and to various cities in California, Colorado and New York. They are also quite popular in exotic locales such as Mexico, Panama, the Caribbean and Dubai.

Condo hotels are a perfect fit for the lifestyle baby boomers enjoy, providing luxurious, hassle-free second homes, without all the worries of maintenance. They offer baby boomers the opportunity for easy, relaxed family vacations in desirable locations without time spent researching, planning and booking travel accommodations.

Unlike traditional vacation homes, condo hotels are furnished condominium suites located within some of the country’s most famous hotels and resorts. Owners of these suites are entitled to use all of the luxury amenities and services offered by the property, such as fine dining restaurants, fitness centers, spas, and concierge services.

Furthermore, the headaches of maintenance, guest services and housekeeping are assumed by the on-site hotel management company.

But what really sets condo hotels apart are that the individual owners can place their unit in the hotel’s rental program when they’re not there. The hotel management takes on the responsibility of finding and dealing directly with renters, leaving the owners free from these duties. The rent revenue the condo hotel unit generates helps offset the costs of ownership.

Many baby boomers looking for investment alternatives see condo hotels as a smart choice, a means to diversify into something other than stock market holdings. Because of a limited supply of land in many choice locales, the likelihood of capital appreciation on condo hotel units is increased.

Condo hotel units come in a variety of sizes and prices, typically ranging from $300,000 to over $1 million for prime properties.

Unlike a timeshare, which usually provides only a week or two per year of use, condo hotel owners are fully deeded property owners who can generally use their condo suites when and how they please. Baby boomers want vacation homes that are available when their busy schedules allow them time off.

Also, whereas traditional timeshares can be difficult to resell, condo hotels, with their luxury amenities, prime locations, limited inventory, and potential for appreciation, can be resold more readily.

For all these reasons, the condo hotel product, and the lifestyle if offers, appeals to the baby boomer generation. Look for more condo hotels to come on the market in coming years to meet this burgeoning demand.

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Joel Greene is the President of Condo Hotel Center in Miami, Florida. Visit his information-packed website at Condo Hotel Center.comfor listings, prices and photos of condo hotels. At his website you can sign up for his free Property Alert newsletter which notifies subscribers of new condo hotel properties coming on the market.

Source: http://www.articletrader.com

10 Great Reasons to Buy a Second Home in Central America

Tue, 04 Sep 2007 00:00:00 -0500

In the past, buyers of second homes gravitated toward ski chalets in Vail, hip condos in New York, and even the occasional Tuscan villa. But today, savvy investors are looking to second homes in Central America to get the most value for their money.

Now, thanks to technology, it’s no longer intimidating to purchase foreign property. Using the Internet, buyers in the market for second homes in Central America can research the communities and properties they desire without even leaving home.

The appeal of these exotic locations is great for many reasons, including:

1) Proximity to the United States – Central America countries like Costa Rica, Mexico, and Panama are all convenient to air travel. In fact, many regions now boast new or improved airports and more frequent direct flights from major U.S. and European cities.

2) Uncrowded Beaches and Ocean View Properties – The combination of great value and natural beauty are becoming increasingly difficult to find in the U.S, but places like Mexico, Panama, and Costa Rica offer these qualities in abundance. .

3) Good Opportunity for Investing – For people looking to diversify their investments using money garnered from stocks, inheritances, business profits, and home equity, a second home in an area where appreciation potential is significant makes great sense.

4) Vacation Getaways – A second home in Central America offers the opportunity to easily escape from the stresses of everyday life, relax and have fun.

5) Tropical Weather All Year – Countries like Mexico, Panama and Costa Rica offer temperate climates and abundant sunshine year round.

6) More Value for the Dollar – The rising prices of places like Arizona and Florida have made many people who want to purchase a second residence look elsewhere. A vacation home in Central America can cost less than one half what a comparable home would cost in the U.S.

7) Retiring Abroad Is More Affordable –The inexpensive prices of homes combined with a low cost of living, makes Central America an effective way to stretch retirement dollars and live a luxury lifestyle on less income.

8) Properties Offer Full Amenity Packages – Major developers are now building upscale, master-planned residential developments that offer everything anyone could want in a second home including resort-style pools, access to beaches, world-class golf courses, fine dining restaurants, upscale retailers and personalized concierge services.

9) Welcoming Attitude Toward Foreigners – In an effort to attract foreign investors, many Central America countries now offer special incentives to foreigners who retire there. For example, Panama offers retirees discounts of 10%-50% on utility bills, doctor visits, airline tickets and sporting events. In Costa Rica, there is no capital gains tax.

10) It’s Safe to Buy Abroad – As countries like Panama, Mexico and Costa Rica open their doors to foreign buyers, more rules and regulations are being established to help protect buyers. For example, title insurance, once a rarity in less-developed locations, is becoming standard. And in these countries, foreigners are entitled to the same property ownership rights as native citizens.

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Maria Lopez is a sales agent with Central America Second Homes, a real estate brokerage that specializes in the sale of vacation, investment and retirement property in Central America. The firm offers luxury condos and homes at pre-construction prices in Costa Rica, Panama and Mexico.
Go to Central America Second Homes to view property listings and also to request a FREE copy of the Central America Second Homes Report, an insider’s guide to buying abroad. Or contact Maria Lopez directly at Info@CentralAmericaSecondHomes.com, 305-944-3090.

Source: http://www.articletrader.com

U.S. Retirees Look to Costa Rica for Second Homes

Tue, 04 Sep 2007 00:00:00 -0500

Retirees seeking second homes in warm climates with exotic views are taking a fresh look at Central America. Today’s well-traveled generation of retirees, with their increased longevity and better health, are looking to Central America for locales that offer value, unspoiled natural beauty and good quality of life.

With close proximity to the U.S., and convenient air travel, places like Costa Rica are a retiree’s dream. Bordered on the east by the Caribbean Sea and on the North Pacific Ocean on the west, Costa Rica (translation: Rich Coast) is about the size of West Virginia and boasts 802 miles of coastline. It can be reached by air from most U.S. cities in three to seven hours.

Because of the affordable prices of real estate in Costa Rica, retirees find that their dollars can be stretched further to purchase bigger and more luxurious properties. A second home in an exotic location, particularly one with great potential for appreciation, is a great way to diversify their investment portfolios away from the stock market and into real estate. Another plus is the benefit of being able to pass the property on to their children.

Developers are meeting the demand for second homes in Costa Rica by creating resort-like communities with fantastic amenities such as golf courses, beach clubs, infinity pools and marinas to meet the desires of retirees eager to enjoy their golden years.
The Costa Rican government is not only receptive to international citizens retiring in their lush country, but has rolled out the welcome mat. They actively encourage foreign investment in the country by allowing non-residents to purchase Costa Rican property.

Foreigners are entitled to the same ownership rights as native citizens. In addition, there is no capital gains tax, and property taxes in Costa Rica are very low in comparison to the U.S. and European countries.

In recent years, improvements in Costa Rica’s infrastructure have increased the country’s appeal to foreigners. New airports and better roads have enhanced accessibility. For retirees, improvements in medical care in Costa Rica, including state-of-the-art hospitals that are often staffed by doctors trained in America, make retiring abroad less intimidating.

The relaxed pace of Costa Rica also appeals to the retirement generation. Lazy days on the beach and an afternoon of golf are just want many retirees seek.

With the advent of technology like the Internet and cell phones, retirees find it very easy to keep in touch with people back home. Retiring in Costa Rica doesn’t mean living a life of isolation.

Finally, because of the Internet, buying property in Central America is easier than ever before, allowing prospective investors to research properties and even handle real estate transactions without even leaving their home.

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Maria Lopez is a sales agent with Central America Second Homes, a real estate brokerage that specializes in the sale of vacation, investment and retirement property in Central America. The firm offers luxury condos and homes at pre-construction prices in Costa Rica, Panama and Mexico.
Go to Central America Second Homes to view property listings and also to request a FREE copy of the Central America Second Homes Report, an insider’s guide to buying abroad. Or contact Maria Lopez directly at Info@CentralAmericaSecondHomes.com, 305-944-3090.

Source: http://www.articletrader.com

Second-Home Buyers Flock to Panama

Tue, 04 Sep 2007 00:00:00 -0500

Panama has become the country of choice for many Americans seeking a second home for vacation, retirement, or investment. This tropical paradise in Central America has great appeal because of its proximity to the U.S. and its value-priced real estate.

Panama boasts a hospitable attitude toward foreigners, low population density, and almost zero violent crime. The U.S. dollar is used as the currency, making currency exchange a non-issue. And many major cities in the U.S. offer direct flights to Panama, including Atlanta, Houston, Los Angeles, Raleigh-Durham, Orlando and Miami.

Perhaps most enticing of all are the low prices for homes in Panama. Highly-desirable real estate can be purchased for less than one third or one half what they might pay for comparable property in the U.S.

For retirees, Panama is particularly attractive because of the outstanding incentives offered to seniors. Retirees are eligible for substantial discounts of 10% to 50% on a variety of services and necessities, including utility bills, airline tickets, doctor’s bills, dental and eye exams, medicines, hotels, restaurants, transportation, movie theaters, and cultural and sporting events. Panama also has excellent health care with many of its doctors U.S. trained.

For younger buyers, such as baby boomers looking for vacation homes or professionals who utilize global technology as they work from remote offices, Panama offers an attractive infrastructure similar to that of North America. It boasts modern airports and roads, Internet access, cable television, good cell phone reception, and availability of many American-style products and services. In Central America it is the most industrialized country.

The wide array of properties offered in Panama suits all tastes, from luxurious high-rise apartments to tropical beachfront condos, to breezy mountain retreats. Because the country borders both the Caribbean Sea and the Pacific Ocean, much of the real estate promoted as second homes offers desirable waterfront views and beach access.

In addition, developers in Panama are embracing the condo hotel concept, which allows investors to have deeded ownership to condominium suites located within four- and five-star resorts. These resorts offer amenities such as spas, pools, restaurants, concierge services and more. If the owners choose not to live in their units year round, the hotel management can assist with renting the unit out, enabling the owner to generate revenue from the property.

A $5.2 billion expansion of the Panama Canal currently underway has created a sudden surge of interest in Panamanian property. The entire country will likely benefit from this expansion, and it’s also speculated that real estate—especially property near the canal—will appreciate significantly.

With a low cost of living, high quality of life and tempting real estate values, Panama is fast establishing itself as one of the premier places to own a second home.

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Maria Lopez is a sales agent with Central America Second Homes, a real estate brokerage that specializes in the sale of vacation, investment and retirement property in Central America. The firm offers luxury condos and homes at pre-construction prices in Costa Rica, Panama and Mexico.

Go to Central America Second Homes to view property listings and also to request a FREE copy of the Central America Second Homes Report, an insider’s guide to buying abroad. Or contact Maria Lopez directly at Info@CentralAmericaSecondHomes.com, 305-944-3090.

Source: http://www.articletrader.com

Mexico Becomes First Choice for Many Second-Home Buyers

Tue, 04 Sep 2007 00:00:00 -0500

Home to many popular tourist destinations, such as Cancun, Acapulco, Puerto Vallarta and Baja California, Mexico is also fast becoming a popular destination for those looking to purchase a second home for vacation, retirement or investment.

As more and more families seek to balance their hectic, high-stress lifestyles, having a second home is gaining appeal as a way to get away from it all, reduce stress, participate in recreational activities and enjoy more quality time together, and all while making a good investment for the future.

Located north of Central America, Mexico is an exotic and affordable choice for second homes. At nearly three times the size of Texas, Mexico boasts over 5,500 miles of coastland. The country is graced with a temperate climate year round.

Because real estate in domestic locales such as Arizona and Florida has become so expensive, vacationers and retirees are seeking out more affordable locations. Mexico is an attractive alternative due to its tropical climate, lower cost of living and welcoming attitude towards foreigners.

Its affordable real estate allows U.S. investors to purchase a luxurious second home at prices 20% to 50% less than they would pay for a comparable property back home. And, as demand for these properties increases, owners can expect their investment in Mexico real estate to appreciate.

A variety of quality properties is available for foreign investors seeking second homes in Mexico. Developers are meeting the surge in demand by constructing resort-like, master-planned communities brimming with luxurious amenities such as golf courses, infinity pools, full-service spas, state-of-the-art fitness centers, fine-dining restaurants and exciting entertainment venues.
International buyers appreciate that Mexico offers an attractive infrastructure similar to that of the U.S. It boasts good main roads, Internet access, cable television, good cell phone reception, and availability of many American-style products and services. New and improved airports and frequent flights to and from major U.S. cities, make Mexico easily accessible.

Though Mexican law once prevented non-citizens from purchasing property within 31 miles of the coast, the government has introduced a system known as “fideicomiso” (fee-day-e-co-me-so), a title-holding trust that allows non-citizens to own property inside of the restricted zones. Therefore, many of the new vacation homes being developed and marketed to foreign investors are built near Mexico’s beautiful beaches.

Financing for properties in Mexico has become easier to obtain as developers work in tandem with lending companies in Mexico to offer favorable loan packages to international buyers. In addition, U.S. lenders are starting to offer loans for properties in Mexico.

Mexico is clearly worthy of consideration for those looking to own a second home that will provide years of enjoyment and also offer the potential for appreciation and profit in the future.

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Maria Lopez is a sales agent with Central America Second Homes, a real estate brokerage that specializes in the sale of vacation, investment and retirement property in Central America. The firm offers luxury condos and homes at pre-construction prices in Costa Rica, Panama and Mexico.