Bay Islands Real Estate
As most of you are aware, the bursting of the real estate bubble in 2008 in the United States and 2009 here on the Bay Islands had a devastating impact on property prices in both places. Volumes plummeted. Although it opened the market to many more buyers, the market also shifted from clients buying mostly raw land and lots, (70% of our sales), to clients purchasing homes and condos.
It now seems the price point has bottomed out and is heading upward, (we will know for sure when we get a little more history behind us).
Many smart buyers came in and purchased real estate at record low prices and with new construction halted, inventory level is low and the real estate choices will be far fewer in the short-term than what they have been historically.
The focus of this newsletter is three fold.
First, the price of vacant property here has dramatically decreased. This is true for property with outstanding views, property with waterfront access, the active West end of the island, and even the more remote East end.
This means vacant land, whether that be in planned communities, small area co-ops, (here we have ‘Property Owners Associations that do not have registered HOA’s and many times it is just a small group of home owners that get together and all of them chip in to pay the electric bill on the well water pump, or maintain a dock, or gardener, etc), acres , whether it be view, water front, beach front,…………
These properties are a real BUY right now and are a way for you to invest in a nice spot for less money than a home or condo. In addition, by purchasing vacant lots, you pay very little in property taxes, (usually for vacant non-water front land, it is approximately $100.00 a year). By purchasing now, you can have land in which to build your retirement home or you can just view the property as an investment knowing that you bought at the bottom end of the market price point wise. Can you imagine owning a piece of Caribbean property? How cool would that be?
Secondly, there is a need for spec homes. If you are a builder and spending another miserable winter in Minnesota, Michigan, Wisconsin, or Canada makes you cringe, purchasing land in the Bay Islands may be the opportunity you are looking for. Buy land inexpensively, build a spec home or two in the tropics, and enjoy life again. You can enjoy a new adventure, new opportunity, and a new place to “winter”. If you are interested, drop me a line. I may even be able to find you a deal where you pay for part of the home site now and part after you sell the spec home.
Lastly, from all indications that I can vet, the market is coming back, and I am not the only one who thinks this way. Other Brokers on the island are busy also. We are very active in the real estate industry AND it is the “low season” here. We are not supposed to be.
In addition, we have HGTV filming on Roatan. Also on HGTV, is a new series entitled Beach Front Bargains, which is lining up shows for the upcoming season. With four episodes already scheduled and more likely on the way, Roatan will no longer be below-the-radar.
If you are seriously thinking of buying, buying when you are confident that the market in at the bottom, (or very close to), is every investor’s dream.
I have put together some high-end luxury homes and properties in this month’s newsletter. The high-end luxury market was hit the hardest and the values are substantial. If you are a luxury home buyer, you need to check out these listing choices. In many instances, you will find top-end quality at half the price.
Luxury Homes – click here – http://link.flexmls.com/12jime61bv36,2
Luxury Properties – Click here -http://link.flexmls.com/12jimeo219xj,2
Have you started to think about your winter plans? Check out the great listings below. Discover places to stay, and then talk to your husband, wife, or partner about what you will do this winter.
This property is perfect for a hotel, dive center or restaurant (as it was used as previously). Cross Creek straddles the main road to the lagoon. It’s a fixer upper with a great price, and can be repurposed for almost anything. Includes owners 2 bedroom house, 2 double-cabin cabañas, 14 room hotel, 8-room cabin, kitchen, 3 indoor common areas, store, bar, laundry room, generator & generator house https://www.roatan-realestate.com/listing/listing-300-cross-creek/
Enjoy all activities Roatan has to offer right at your doorstep. Take a daily swim, snorkel or dive right in front of your home to view the worlds second largest barrier reef, explore the calm Caribbean waters in a kayak, go fly fishing for bonefish and permits, walk barefoot along the sandy beach in the friendly neighborhood of Sandy Bay and view a stunning sunset from your spacious……….A nice home, very nice price for beach front Only $245,000! https://www.roatan-realestate.com/listing/listing-301-beacfront-barefoot-bungalow/
Lush green corner lot atop Bambu Ridge located in a nice and tranquil residential area. This is a perfect home site away from the hustle and bustle of town. Away from the main road, but close enough for everything you need. https://www.roatan-realestate.com/listing/listing-299-bambu-corner-lot/
Elegance and craftsmanship combined with over 11,000 square feet of living make this perfect for buyers seeking value. This luxury home is the definition of move-in-condition. No detail has been overlooked. Every possible amenity is included. From top to bottom, this home was made with the highest quality material. https://www.roatan-realestate.com/listing/listing-295-terra-del-sol/
This 500 feet (+/-) of white sandy beach front and clear blue water on 1.85 acres of all buildable land in St. Elena (Santa Elena) is a private oasis. With boat access only you will be able to enjoy a true island lifestyle and appreciate nature and privacy to its fullest. https://www.roatan-realestate.com/listing/listing-297-white-sandy-beach/
This beautiful waterfront home comes with a dock & boat slip, fully furnished, triple water filtration system, custom cabinets, tile and wood floors, just gorgeous! Swim just outside your front door, world class snorkeling, quiet Bay, Furnished, Artistic Murals, lots of beds, turnkey! Great Home or Investment, There’s so much more, A MUST See! https://www.roatan-realestate.com/listing/listing-298-waterfront-home-on-brick-bay/
WATERFRONT building parcel, does not get more beautiful than this one with spectacular sunrise, views to Cayos Cochinos, and waves lapping up the cove below. Build your dream home. https://www.roatan-realestate.com/listing/listing-296-keyhole-bay–oceanfront-/
This 500 feet (+/-) of white sandy beach front and clear blue water on 1.85 acres of all buildable land in St. Elena (Santa Elena) is a private oasis. With boat access only you will be able to enjoy a true island lifestyle and appreciate nature and privacy to its fullest https://www.roatan-realestate.com/listing/listing-294-beachfront-home-1-85-acres/
Waterfront home site, only $49K – Are you looking for that perfect little place to call your own in the Caribbean? How about a place right on the water? A place that will make you feel like you are a million miles from reality? A place to build your getaway? A place “close-in” enough for short trips to groceries, restaurants, mall or golf? https://www.roatan-realestate.com/listing/listing-199-waterfront-place-for-boat/
Incredible, over 3600 sq/ft and 4 bedrooms in West Bay for under $200K? This concrete home give you the option to stay in one apartment and make an income with the other or rent both as an investment. Only 5 minutes walking to the beach and 2 minutes driving to West Bay. https://www.roatan-realestate.com/listing/listing-274-house-on-lot—5/
THE BEST DEAL ON THE ISLAND! – This quality built 2br/2ba condo Is in a great complex with great amenities. The price on this is the lowest ever offered since pre-construction of the complex AND it is furnish with quality throughout. Granite countertops, stainless appliances, right in front of a waterfall swimming pool! $150,000! Scoop it up today! https://www.roatan-realestate.com/listing/listing-242-pineapple-villa/
3 bedroom, 2 bathroom furnished single family 1,664 sq ft home. Only $169,000 https://www.roatan-realestate.com/listing/listing-303-gumbo-limbo-house/
Almost ½ ac beachfront only $99,500 – https://www.roatan-realestate.com/listing/listing-279-0-46-acres-beachfront/
Important, …………………….at least to me!
I know I usually don’t bring my personal life into the business world, but today I thought I would make an exception.
Last month I mentioned that I am not a writer, but I had one in the family, (my daughter). My daughter, Amy, has a book releasing on September 22nd. I believe her book, When More is Not Enough: How To Stop Giving Your Kids What They Want and Give Them What They Need is a must read for every parent and grandparent.
Amy has worked very hard to achieve publication and because Amy is Amy, she is donating all proceeds of the book to her family’s favorite nonprofit.
To me, my daughter spending years of hard work and then giving it all to a worthy cause was worth a mention. I hope after watching the book trailer below, you may have enough interest to preorder a book, but that is the capitalist father of hers, me. Yes, this is a shameless pitch for my kid, but hey, that is what proud parents do!
Please take a couple of minutes to watch this short video:
http://www.godtube.com/watch/?v=W6KGZ7NX
If you wish to pre-order this great little read please follow this link.
Thanks all for reading and I hope you are starting to plan your trip and soon as you finish this months newsletter.
Best to all……’Dream with Your Eyes Open’
Larry
