Michael C Murphy Bienvenidos Real Estate

Canadian dollar moves back to .95 US

Michael C Murphy — Thu, 07 Aug 2008 15:05:00 GMT

If you ask any professional real estate agent in the Puerto Vallarta area, who carried the market the past year, you will invariably hear that it was the Canadians. Americans stayed home in such numbers that you had a hard time finding one. In one project alone in Bucerias, which was originally aimed for the domestic market I had been informed by a representative of the developer, that 30 to 35 % of the buyers had been Canadians. And why not, the Canadian dollar had risen to a high of 1.07 US back in October 2007 falling steadily back down to par until around April 2008 and below since. Canadians had just experienced one of the biggest run-ups in value of their own real estate holdings back in Canada with no similar fallout like the sub prime fiasco in the US. With that exchange rate, the value was hard to pass up. Now that it is back to a more sobering .95 cent US level, it makes me think that it will not be such a banner year to come, as far as Canadians buyers are concerned. It leaves me wondering who will pick up the slack for 2008. The market has been steadily rising in Puerto Vallarta and all of Mexico for the last several years just as it has the world over. As those of us that have been around through the cycles a few times know, prices do not go up forever. The Canadian market is experiencing at least a 10% adjustment down with possibly more to come. Market forces have a way of balancing themselves out. My prediction: Watch for some steadily growing bargains this year as inventories and carrying costs rise.. stay tuned

Michael Murphy has been an active realtor since 1981 and has business interests in both the Puerto Vallarta - Riviera Nayarit market as well as the Vancouver Island BC market.

Mexico has been name best place to retire by International Living.

Michael C Murphy — Tue, 22 Jul 2008 17:51:00 GMT

Mexico's popularity as a place to retire has been growing by leaps and bounds in the last few years. North American expatriates who have bought and moved to Mexico already know and appreciate the benefits of a lower cost of living in all of the major and important indexes. Housing, taxes, gasoline, food, medical care and dental work to name a few. Safety,infrastructure and more importantly a slower and less stressful quality of life, as well as the cultural richness of Mexico, all adds to the attraction. Need we say more? To discuss retirement and real estate opportunities in Mexico and specifically in Puerto Vallarta, Bucerias and all of the Banderas Bay areas including, Punta Mita, La Cruz Huanacaxtle, San Pancho, Lo de Marcos, Sayulita and more, drop by our website at www.bievenidosrealestate.com and contact us by email or the toll free number from Canada and the US. We will be glad to try and answer any questions or concerns you might have.

San Pancho oceanview condominium project announcment.

Michael C Murphy — Tue, 22 Jul 2008 16:13:00 GMT

Later this year there will be a new smaller development of 10 units with oceanviews being started in San Pancho. If you are interested in getting updates on this development, please visit our website and send an email with the heading Pablos Paradise and we will keep you updated on the progress. Visit www.bienvenidosrealestate.com to register

New Bucerias Azul Bahia project gets underway

Michael C Murphy — Tue, 15 Jul 2008 18:10:00 GMT

Announcing Azul Bahia a five story complex, with only five condos, one per story, this gives you all the privacy of an entire story and an elevator for comfort and convenience.

Each condo is 2260 sq ft and includes:

3 bedrooms
3 bathrooms, two of them with a dressing room and closet combo.
Dining room
Living room
Integral kitchen equipped with dishwasher, stove, oven. etc
Washer and dryer hook-up
Air conditioner

Lobby.

Terrace with jaccuzi.

Two shaded parking spots.

Two storages.

Rights to the sundeck, which is located in the 6th floor and is equipped with stainless steel grill, seats, bathroom and infinity pool.

Prices starting at US$345,000

2 Story For Sale in Los Amores Villas & Townhomes

Michael C Murphy — Tue, 24 Jun 2008 05:33:00 GMT

Deseo model

• 1,420 sq. ft., 3 bath, 3 bdrm 2 story - $225,000 2nd phase

Terralta, Bucerias - 3 Bedrooms with full closets
3 designer bathrooms
Air conditioning
Study
Balcony
Breakfast Bar
Granite counter tops
Infinity pool with oceanview
Two car parking

1,420 sq. feet of construction

Property information

Condos For Sale in Bucerias, Los Amores Towers

Michael C Murphy — Sat, 07 Jun 2008 03:32:00 GMT

• 1,302 sq. ft., 2 bath, 3 bdrm apartment - $194,778

Bucerias, Nayarit - The ultimate in luxury, 1302 sq.ft to 2473 sq.ft. oceanviews, 3 swimming pools, health club, walk to beach club. Prices starting at $182,974 (no oceanview) for the smaller units to $500,108 for the 4 bedroom, 4 bath penthouse.

Property information

Updated home in Bucerias

Michael C Murphy — Mon, 26 May 2008 14:59:00 GMT

Many new update

• 110 sq. m., 2 bath, 3 bdrm 2 story - $149,900 - New updated version

Bucerias, Nayarit - 3 bedroom family home in quiet, up and coming area of Bucerias. This is a good solid house within walking distance to stores and schools. Features open living and dining down plus 1/2 bath and 3 bedrooms with full bath up. Fully walled property with all concrete patio backyard area with secure parking in front. Full laundry area on back patio. Canadians have built a new vacation home next door. There have been recent upgrades to this home as of May 08 that includes beautiful granite counter tops, mexican porcelain style sinks in the bathrooms upgraded lighting fixtures and designer color paints.. You wont find a better buy in a single family home in Bucerias. Clean title and ready for Fideicomiso.

Property information

2 Story townhouses for sale in Bucerias

Michael C Murphy — Tue, 13 May 2008 14:20:00 GMT

2 mins to beach

• 1,096 sq. ft., 3 bath, 3 bdrm 2 story "beds up living down" - $98,000 - Cluster 2, last phase

Bucerias, Nayarit - Brand new units in Bucerias, 2 minute walk to the beach, 3 minute walk to church and square. 3 bedrooms and 2.5 baths, swimming pool and security. Best buy going. I like them so much I bought one. Great for investment, close to the beach, reputable builder, 1 year warranty, concrete construction.

Property information

Oceanview condos For Sale in Bucerias

Michael C Murphy — Tue, 13 May 2008 14:19:00 GMT

• 1,302 sq. ft., 2 bath, 3 bdrm apartment - $194,778

Bucerias, Nayarit - The ultimate in luxury, 1302 sq.ft to 2473 sq.ft. oceanviews, 3 swimming pools, health club, walk to beach club. Prices starting at $182,974 for the smaller units with no views to $500,108 for the 4 bedroom, 4 bath penthouse.

Property information

2 Story For Sale in a quiet area of Bucerias called Buenos Aires

Michael C Murphy — Thu, 24 Apr 2008 19:49:00 GMT

• 110 sq. m., 2 bath, 3 bdrm 2 story - $139,900 - Price reduced..motivated!

Bucerias, Nayarit - 3 bedroom family home in quiet up and coming area of Bucerias. This is a good solid house within walking distance to stores and schools. Features open living and dining down plus 1/2 bath and 3 bedrooms with full bath up. Fully walled property with all concrete patio backyard area with secure parking in front. Full laundry area on back patio. Canadians are building a new vacation home next door. Clean title and ready for you.

Property information

The selling season winds down in Mexico

Michael C Murphy — Thu, 17 Apr 2008 16:57:00 GMT

May 9, 2008 As an aside to the article below what would normally be a slow down time we have been extremely busy for the last 3 weeks with buyers coming in droves to look at and to buy property in the area.[ End]

Are you thinking of buying real estate south of the border in ole Mexico, more specifically in the Puerto Vallarta, Bucerias area ? Now might be the time to make your best deal. With the market coming to a seasonal slowdown there will be more people and developers that need to sell. Maybe now is the time to test that vendors metal with a lower than normal offer if you are a buyer. With the slowdown on the horizon, cash flow becomes a problem especially for the developers who have mounting bills that need to be paid. If you are a seller, November will be along soon when the droves push south again to experience paradise and warm weather. Check out our website at www.bienvenidosrealestate.com to help you develop a strategy to take advantage of this situation whether you are a buyer or seller. We have strategies for both.

If you are a Canadian thinking about buying a retirement or vacation home in Mexico maybe NOW is the time

Michael C Murphy — Thu, 03 Apr 2008 21:32:00 GMT

Days of dollar parity at end, loonie likely to fall below 90 cents US: RBC

Thu Apr 3,2008

By The Canadian Press

OTTAWA - The high-flying loonie is likely to descend to the 90-cent-US level later this year and continue weakening into next year, says a new forecast from Canada's largest bank.

The Royal Bank research report predicts the Canadian economy will outperform that of its southern neighbour, but a U.S. recovery in the second half of 2008 and the curtailment of Federal Reserve interest rate cuts will strengthen the American dollar.

"By the end of the year, we expect the loonie to average 90.9 US cents," says the report from RBC economist Craig Wright.

"This depreciating trend will extend into 2009 with the currency dropping further to 87 US cents by the end of that year."

The loonie has been near or above parity with the greenback for half a year, hitting a record $1.10 in November and trading Thursday morning at 99.08 cents.

The RBC forecast agrees with most other economic outlooks that the domestic economy will slow as the U.S. slump drags down Canadian exports and the manufacturing sector.

The bank now expects growth in Canada to average 1.6 per cent for the year, down from last year's 2.7 per cent advance and down from RBC's previous forecast of 2.1 per cent.

The new forecast is slightly below the 1.7 per cent growth projected in February's federal budget, but above the TD Bank's latest forecast of 1.1 per cent.

The Royal Bank says every province will share in the slowdown, although some more than others.

With manufacturing in peril, Ontario will be near a recession as growth slows to 0.8 per cent, it predicts, and Quebec will experience a sluggish 1.1 per cent growth rate.

"The nationwide hit to Canada's exports will disproportionately affect Ontario because of both its heavy reliance on U.S. demand for its products as well as the unfavourable composition of those exports that are largely focused on the auto and forestry sectors," Wright said.

He said Ontario ships 84 per cent of its exports to the U.S., accounting for about 40 per cent of the province's gross domestic product.

But even oil-rich Alberta is expected to trend down, from 4.3 per cent last year to 3.3 per cent this year and three per cent in 2009.

The bank says Saskatchewan will lead the country in growth at 3.6 per cent this year, buttressed by its energy, mining and agricultural sectors.

Newfoundland, after leading Canada with nine per cent growth last year, is forecast to trail the rest of country this year at 0.5 per cent, largely due to declining production at all three of its producing oilfields.

The report notes the rise in Canadian house prices has stretched affordability to conditions not seen since 1990.

But homeowners should see a modest improvement in affordability throughout 2008, as the Bank of Canada is expected to keep lowering interest rates.

The central bank's policy rate, now 3.5 per cent, is forecast to decline to 2.75 per cent by mid-2008.

Wright said the reason Canada will continue to outperform the U.S. economy, if only modestly, is continued strong world demand for commodity exports such as oil, minerals and grains.

Terralta 3 Bucerias

Michael C Murphy — Thu, 03 Apr 2008 17:44:00 GMT

Bucerias, Nayarit - Announcing a price increase on Terralta 3, a 1,096 sq. ft., 3 bath, 3 bdrm, 2 story "beds up living down". Now $98,000 - Cluster 2, last phase. The prices just continue to increase in this very popular development on the north side of Bucerias. Prices have escalated from $84,000 in October 2007 to 98,000 this year for the final phase. The developer Dynamica has a number of other projects on the drawing board so we will keep you updated.

Property information

Health care in Mexico ( as posted on www.banderasbay.com)

Michael C Murphy — Sun, 23 Mar 2008 19:36:00 GMT

Mexico and Riviera Nayarit may have answer to U.S. retirees Health Care

Each day, a savvy few join the ranks of retirees living like royalty -- but on tiny budgets. It's a secret most people don't know much about, but easily accessible to most Americans.

The U.S. health care system is out of reach for millions of Americans…and Mexico may have the answer, according to Carlos Slim, Mexican business magnate and second-richest man on the planet.

One of Slim’s companies, Ideal, has purchased a 49% stake in Grupo Star Medica, a Mexican national hospital chain. Plans are underway for new, high-quality medical centers in Mexico to cater to U.S. baby boomers who are buying second homes in Mexico…or who simply want to come to Mexico for cheaper health care than they can find in the United States.

It is estimated that vacation homes sales increased 45%, in Riviera Nayarit in the last three years. Companies like Grupo Star Medica are just filling niches created by those new homeowners and vacationers. ''[Baby boomers] are also choosing Mexico because its health system is much cheaper than in the United States.”

And plans are underway to get more U.S. private insurance companies to pay for medical treatment in Mexico. ''For a U.S. insurance policy to pay for medical treatment, the treatment has to comply with certain quality control standards, and we are going to participate with products to serve this niche,'' said Jaime Jimenez, general director for Mexico Trane, another company following Slim’s lead.

It’s hard to blame smart Mexican businessmen for capitalizing on such an obvious opportunity. If the United States hadn’t let its health care system get so bloated and profit-hungry that 40 million Americans can’t even afford health insurance, there wouldn’t be a need to outsource it.

Remember what your dentist used to say? “Ignore your teeth, and they will go away.” Well, the United States has neglected health care reform for so long that its users really are going away…to Mexico!

Prices continue to increase at Terralta in Bucerias

Michael C Murphy — Sun, 16 Mar 2008 18:48:00 GMT

Bucerias, Nayarit - Announcing a price increase at Terralta. These townhomes are 1,096 sq. ft., 21/2 baths, 3 bdrm 2 story with the bedrooms up and living down". Now what remains are $95,000 Due to the popularity of these units the prices just kept going up. Watch for the towers with ocean views by the same developer right next to Terralta. More information coming soon.

Property information