We have a lot happening on the island, and we have been unseasonably busy. I will try to make this update brief, but you may wish to grab yourself a coffee or iced tea.
DISCOVERY AND INVESTMENT TOUR- ONE SPOT LEFT!
Last year the Discovery and Investment Tour, which was held in March, filled to capacity right before the event started. After the event, some people wrote and asked for more notice about upcoming tours as they had already planned their warm weather getaways. This year, I decided to advertise the tour early, and as a result of the early advertising, there is only one spot left for the tour scheduled in February 2016. I would like to fill the last spot. That being said, if there is more interest, I may consider holding a second tour.
The Discovery and Investment Tour is not an event comprised of hundreds of participants. Instead, it is just the opposite. It is a concierge type of tour, which offers a good deal of one-on-one time with participants.
For an overview of the Discovery and Investment Tour, please click here. http://roatanbayisland.com/discovery-investment-tours/
In addition, you can always write me for more information, or I have a United States phone line that rings on the island should you want to give me a call.
REAL ESTATE MARKET WATCH
The last five years on the island have been interesting.
Normally, real estate on the island lags a year or two behind in regard to market movement in the United States and Canada. In 2008, when things fell apart in warm climate markets, we were still fine. Then in 2009, prices started to free fall here too. Although some of those markets started coming back a couple of years ago, our market only started to show an increase at the end of last year. During this time, we saw a 2.4% increase on residential properties.
Today there is an abundance of vacant land and home sites, which brings me to the subject of land cost.
Land cost is an important part of the equation when either planning to use land to build a future home for living, rental, or retirement purposes or to just land bank it as straight-up investment or a possible IRA purchase.
Let’s face it. The stock market has been clobbered over the last few weeks. Equities more than bonds, but even bonds have not fared very well. Real estate is the oldest and safest form of investing. Long-term little does better than real estate.
ARE YOU CONSIDERING BUILDING ON THE BAY ISLANDS?
For those of you who are wondering about building on the island, I want to share something new with you. Recently, I had the opportunity to visit an engineer/developer that I have known here on the island since I moved here. He has built some of the best facilities on the island, and I was interested when I heard he was building his own home with a technology that was new to me.
He is building with steel and insulating with Styrofoam. The walls and roof are composed of panels that are about 4 feet wide and 10 feet tall using steel studs turned sideways. He and a local builder are assembling the panels into the home here. He engineered/designed the home here and sent it to the factory in Virginia where the panels for the home were fabricated and shipped to the island. He told me that it passed all the hurricane testing and fire testing, has no off-gassing and is really fast to construct. He also said that he will cut his construction time from about 4 months to 2 weeks.
A normal concrete home here has an “R-rating” of about 1.3. This man told me that he has R-20 in the walls and R-30 in the roof. The way he is building will make the home very affordable to own and operate.
I thought this was an exciting option on an island with high-energy costs. This guy is very meticulous, and I know he did his homework if he is using this building technique for his own home. Part of the downside of building on the island has always been the timeline you get the building done. That no longer is an issue.
Find your dream location, pull the trigger, and be in it in no time (Photo of the home he is building below).
This is the manufacturer’s site: http://www.thermasteelcorp.com/index2.html
Here is a YouTube video showing the actual product: https://www.youtube.com/watch?v=WMXk0-uZBYM
It is always nice to get exactly what you want.
ACCOLADES
I know every month I tell you how great life on Roatan is, but I am not the only one who feels this way, and here are others to back-up my claims:
Earlier this year Trip Advisor name Roatan #3 in the world: https://www.yahoo.com/travel/tripadvisor-top-islands-116756968022.html
Islands.com gave Roatan another flattering review: http://www.islands.com/retire-roatan
“International Living” – http://internationalliving.com/2015/03/5-of-the-best-affordable-tropical-islands-for-retirees/
US News, Huffington Post, Travel + Leisure Magazine all have similar accolades. Roatan is the best-kept secret in the Caribbean. Get into it while the getting is good.
AND NOW SOME REALLY BIG NEWS (Pretend you are hearing me say ta-da!)
Our real estate office runs very smoothly, and we are now starting a new strategic alliance with a brand new property management company. The company has a very cool, use-what-you-need, “buffet” type of program based on each client’s level of needs. Most charge a monthly fee plus a percentage if you rent it out. Here one or the other but not both. If you rent it out or you do not rent it our the service is there. When you rent the fee disappears, if it is not rented then you have a choice of exactly how much service you wish for your property here.
For example, if you want the company to pay a gardener and your electric bill, we can assist you. Or maybe you want the property management company to arrange your rental car, do your grocery shopping, and have your property move in ready when your plane lands. We can do that too!
If you have a home on the island that you need help managing, give us a try. We are ready to roll and would love your business. Just reply to this email, and I will connect you to pros.
OUR PROPERTY MANAGMENT TEAM
ICONIC RESTAURANT REOPENS
When my wife and I first arrived on the island in 1999, there weren’t many restaurants. However, I remember going to the Lighthouse Restaurant in West End. There was a small (12’x12’) building in which both the cooking and the ordering of food was done. There were three plastic tables and ten inexpensive chairs.
There were also two or three other restaurants in West End, about the same amount in West Bay, and three restaurants in French Harbor. One of the three in French Harbor was Romeo’s. Romeo’s shut down because the owner became Deputado of the Bay Islands (similar to a United States Congressman).
About a month ago, Romeo’s reopened. Customers can go to every restaurant on the island and get a piece of key lime pie or triple chocolate killer cake, but Romeo’s is the only place I know of in the country, where customers can get a really good Tiramisu. They have a great open deck on the water, super seafood, and yes, don’t forget to order the Tiramisu!
ISLAND “TID-BITS”-
Flying Insects – Mosquitos/Sand Flies
Mosquitos are here but if you are research “Honduras’ regarding them on the internet, then you are apt to find advise that may including if you are visiting you should be taking particular antibiotics. Please take into consider and check with your medical professional about this in that most often they are talking about the ”Jungle” atmosphere of the mainland and not the sunny and breezy island. Sunny days and antibiotics are not a good mix. Check with your medical professional. Personally I have never taken them here in 15 years and never had an issue in the Bay Islands. Can you get mosquito type issues? Yes. That is a judgment call on your end.
Sand Flies – Our first experience with them was in Key Largo Florida. With different intensities they are pretty much all over warm weather climates. Some people have no issue at all with sand flies and others for some reason they seem to bite. No one has an explanation for it really, that I am aware of, in that for some they are pretty irritating and for others they are barely noticed. For example they bite my wife and not me. In order to make your trip more pleasant and play it safe I would do the following.
Take Vitamin B complex 1000 mg for 2-3 weeks before your arrival. That seems to permeate the skin and you have less of them (or mosquitos) land on you. Also bring some plain old baby oil to put on your skin when at the beach. Some “OFF” spray may be needed if they really like you a lot.
Lastly if they really like you bring a tube of hemorrhoid cream. I know that sounds crazy but if you do get bites a little of that goes a long way in relieving the itch. (hot tip from a Pharmacists client of mine). You may not need any of the above but it would be a lot better to spend a little so your enjoyment here is better enjoyed. In 15 years I have used all but none of the above.
“Crawling Critters”-
There is a tiny, tiny little ant here that foreigners tend to call ‘wee-wee’ ants and local people call ‘sugar ants’. They are a bit seasonal and in our experience seems to have something to do with rainfall, but overall I know very little about them. What I do know is a way to get rid if them and after that I am not sure I need to know a lot more.
If these little creatures invade your home or condo, go to “Eldon’s Supermarket” or “ACE Hardware” and pick up a bottle of Boric Acid, a white powder in a plastic bottle. Mix a teaspoon of that and a teaspoon of sugar and make yourself a paste by adding water. Put that in a small bottle cap from pretty much anything, and place them on your window sills. These “wee-wee” ants will invade the traps, taking the mixture back to their nests and presto, they are gone. The hardened mixture left over you can chop up into a fine grain and save it for the next time. Do this as needed. Bugs do outnumber us on the planet a couple of billion to one so this is not a onetime situation, just a little useful information.
HERE ARE THIS MONTH’S REAL ESTATE BARGAINS
This next offering is a new listing that is $104,900.00 less than the next least expensive marina front condo in the same complex. This is not a deal it is a steal! https://www.roatan-realestate.com/idx/Parrot-Tree-Marina-Front-Villa-6E-PTP-Roatan-mls_15-343/
This would be a great place to build out your future home on the island!. On of the top end communities on the island. Safe, secure, beach, pools and a very spacious .82 acre
https://www.roatan-realestate.com/idx/38-Lawson-Rock-Roatan-mls_15-12
A really great place for now or future build-out. Just under an acre and 200 ft of beach this very nice property is large enough to sub-divide or to keep all to yourself. https://www.roatan-realestate.com/idx/Village-on-the-Point-0-99-Acre-Beachfront-Roatan-mls_15-342
If you are looking for a nice little spot near the famous West Bay Beach to build out or land bank this may be just the spot for you. Only $45,000 ! https://www.roatan-realestate.com/idx/Beachers-Road-Turtle-Trail-West-Bay-Lot-B-Roatan-mls_15-329/
The best priced home site on the Pete Dye Golf course – https://www.roatan-realestate.com/idx/3012-Pristine-Bay-Roatan-mls_15-59
Three BR /Two Bath only $149K https://www.roatan-realestate.com/idx/First-Bigh-1-Bed-1-Bath-Guest-House-2-Bed-1-Bath-Main-House-Roatan-mls_15-229
Charming 2 bedroom 2 bath island style home surrounded by trees. Located in a quiet subdivision close to everything https://www.roatan-realestate.com/idx/Style-Home-Brick-Bay-2-Bedroom-2-Bath-Island-Roatan-mls_14-370
2 bedrooms 2 bath on ground level; comes furnished and includes granite counter tops. Amenities are: full service restaurant, bar, pool/Jacuzzi, spa, gym and 24/7 security.https://www.roatan-realestate.com/idx/Pineapple-Villas-2-Bedroom-2-Bath-Unit-311-Roatan-mls_14-143
Time to Build your Dream Home, Ocean View Lot and Community Dock! https://www.roatan-realestate.com/idx/Carib-Bight-Mariposa-Lot-6-Roatan-mls_15-341
Caribbean Views Home site https://www.roatan-realestate.com/idx/Site-Sunset-Ridge-0-12-Ocean-View-Home-Roatan-mls_15-269
Great spot for a developer – Eight acres of Beachfront – Utila – https://www.roatan-realestate.com/idx/8-Acres-Beach-Front-Holland-Beach-Utila-Utila-mls_15-352
Thanks, I will talk to you again next month or sooner.
Larry
