trends, contrasts and distortions can help us live and invest better.
to demographic statistics, 53% of Americans now live in coastal counties
that is only 25% of the US landmass. This inequality
of distribution of Americans distorts house values. The average
value in the coastal counties is $308,845. The value elsewhere
nearly a third lower at $208,256.
places like Naples, Florida (Merri and I just spent a few days
at our condo there) prices are even higher. A new golf course
development (Quail West) in Naples was just finished with 306 lots.
Sales opened December 1, 2005.
12 hours later 303 people from across the US and around the world
had spend $306 million on 300 of these home sites!
people were chosen by lottery from a pool of nearly a thousand who
had already paid a deposit in the hopes they would be chosen. In
addition to forking out between $600,000 to $1.6 million dollars
for a lot, they are also required to pay $175,000 to join the golf
club and $7,000 a year in homeowners’ fees.
complex in the poorest area of Naples sold out in a day at
$175,000 each for 735 square feet low-end projects.
a huge problem here as there are no homes now listed in Naples
MLS for under $200,000. Yet a family of 4 making $56,000 a year
can only afford a mortgage on a house worth less than $189,000. And
the $56,000 is near the average income per capital in Naples.
the shift to the coast grows. The number of
Americans now living in coastal counties is up 63% since 1960.
Learn more about Punta Blanca http://www.puntablanca.com/properties.cfm
what it costs to own a home on the coast in Ecuador. Take Punta Blanca,
Ecuador as an example.
lot on the water (only a canal) in Naples just sold for $5.5
million. There are investments in Punta Blanca where a parcel
of land to build a home is $5,500 just 3 hours and 45 minutes
the Lagoons is a development that can be reached from Guayaquil by
paved road and has mobile phone service, electricity,
potable water, security, trash removal, internet and satellite
to the developer this project sits 984 feet from the sea. Lot
prices (depending on the distance to the sea range from an astoundingly
low $2,100 up to $11,000. Lots are 2,690 square feet. The $2,100
lots are 16 blocks from the water and the $11,000 lots are right on
range from 10% to 30%, and five year financing at 6%. There are discounts on cash deals. House prices run from $26,460 for
a 677 square foot unit to $49,980 for 1,280 square feet.. The developer
offers eight different Santa Fe style models.
on the houses range from 40% to 50%, and financing is available for
five years at 6% with discounts for cash purchases.
restaurant is located in the project and shopping and facilities
are 1/2 hour away, about four miles away in Libertad, Santa
Elena and Salinas. Salinas is a very developed city.
and yacht club with restaurants, bars, swimming pools, and an aquatic
amusement park is about a mile away.
let me know at email@example.com if you are interested in Ecuadorian
costal property and we can help you arrange a tour after
any of our three Ecuador seminars we’ll conduct this winter.
You can see the schedule, Winter in Ecuador, below.
not seen this project nor have I met the developer but you can contact
Gonzalo Eduardo Vela directly at firstname.lastname@example.org
Until next message, good global investing!