There has been a lot of bad economic news the last year.
A New York Times headline last week announced:
U.S. Economy Contracted at 3.8% Annual Pace in Fourth Quarter
Though the Commerce Department’s preliminary figure for gross domestic product in the fourth quarter of 2008 showed the greatest decline in more than 26 years, economists had forecast much worse.
The bad news is not for everyone. Life is good down here on the Equator. A recent message Ecuador Business Passion explained why our Ecuador business is growing by leaps and bounds almost every month.
So it is not a great surprise that I can now announce that the Vistaazul Ecuador beach condo project is sold out…almost.
Originally the project was planned for 62 units at three price levels.
We announced this a year ago and as of yesterday all, but two of the low priced units were sold… and the two had been sold… but the economic correction has caused some buyers to back out.
This calls for a celebration and in fact Vistazul owners get to participate in an almost unbelievable celebration. I’ll explain in a moment. First let me share one more opportunity.
Merri and I have have spent the last week relaxing at Vistazul. While there, I spent considerable time with the developer and owner of the project Kjetil Haugan.
When Kjetil began this development a year ago, our advice was that readers would be especially interested, if he could keep the price for a 1,200 square foot unit with beach views below $80,000.
He followed that recommendation and we were right. The entire project was purchased almost entirely by our readers.
So while on this trip, Kjetil listened to two more recommendations we made which were:
#1: Hold off on the higher elevation higher priced units…for now.
Building costs are higher on the upper units and I believe the success at Vistaazul has come from keeping prices affordable.
#2: Build more of the lower priced $79,000 units. Prices, due to inflation, have risen and recent units were offered at $84,900. However there was space for five more units at a lower level (but nearer the beach).
He agreed. Keeping with the plan of spacious and lush gardens did not give Kjetil much additional room…but he has added five more condos….and dropped the price to $79,000.
Here is the site plan. Please excuse the rough sketch but I wanted you to understand what is happening. This sketch is all I have.
This leaves seven units for sale..the two not sold and the five new Kjetil has added which will be block six.
Let me walk you around the project so you can tie the units and progress to the sketch above.
Here is a shot from the Palmazul hotel which is also the condo development’s clubhouse which sits right on the beach.
The first building you see on the left is block one… seven units in all. Merri and I have units in each block. Unit 102 is ours. Units 103 and 104 belong to our daughters, Fran and Ele. This block is 133 steps to the beach…just a bit over the distance of a football field. I counted the steps myself to see.
Here is a close up of block one from the front.
from the back.
Block one is finished, waiting only for final trim and landscaping.
The block you see behind and slightly to the right is Block 5.
Here is block five in more detail…about 75% complete.
Merri and I have block 503.
Block three, like block one, is mostly done. Here is block three.
Merri and I have unit 303 and 305. We are getting ready to furnish these for rental along with units 102-103 and 104.
Block four is in the rear of the project and is about 25% complete. Here it is. Merri and I have block 403.
Block two (we have unit 207) and the new block six are about to begin. Kjetil has a crew coming in to finish and the balance of the project will take nine months. Two units in block two are unsold and now there will be the five new units in block six. This will create a project of 38 units in total.
There is also a re sale available… but this is priced a bit higher…as you can see below.
Now for the celebration… and the condo owners have quite a bit to celebrate… an entire project started, sold out in a year and targeted for completion nine months from now. A success in the worst economic times in decades.
Kjetil and his wife not only own the Vistaazul project and the Palmazul Hotel (which is also the Vistazul clubhouse)… they also are the largest Galapagos tour agents and own two amazing Galapagos cruise boats. See Haugan Cruises to see their vessels.
An eight day tour on these luxury Catamarans costs as much as $4,390 and a four day cruise $2,230.
Condos owners are lucky because to celebrate the success at Vistaazul Kjetil is giving a four day party… on his boat… in the Galapagos… FREE to condo owners.
We are not sure of the date yet. The normal price of such a tour is $2,230. Yet Kjetil has set aside his yacht Athala for four days and is inviting condo owners (one person per condo owned) to enjoy the this Galapagos cruise. This is a $2,230 savings.
Buyers of the last six units can also join the party.
There are no tricks either. These cruises include all meals, all guided trips, soft drinks, coffee, etc.
There is even more. Kjetll knows that not every owner can come on the dates that will be set… Those who cannot will not have to miss the party either. Kjetil will provide them… on a space available basis… with a free four day Galapagos cruise as well.
That is value… a condo just yards (I stepped this off. Unit one is 133 steps to the beach) from the beach… $79,000. Club membership in Palmazul… normally $5,000… waived… plus a free Galapagos cruise.
Kjetil can be reached at kjetil@haugancruises.com
I have mentioned before…but want to add once more that I have no financial interest in Palmazul or Vistazul other than as property owner myself. I am not paid a commission nor any financial remuneration for the sale of these units. I am an condo owner myself and gain as the project becomes more popular. Otherwise I gain no compensation whatsoever when these units are sold.
Units available are:
Unit # Details Price Club Total price
201 Resale $84,500 $5,000 $89,500
205 New $79,000 Waived $79,000
206 New $79,000 Waived $79,000
601 New $79,000 Waived $79,000
602 New $79,000 Waived $79,000
603 New $79,000 Waived $79,000
604 New $79,000 Waived $79,000
605 New $79,000 Waived $79,000
Gary
Join us in Cotacachi and on Ecuador Coast in March.
Merri, our webmaster and I have created a new course on how to build a web business with a webmaster. Here is a special offer on this new course.
You can enroll in this special course for $299. However if you sign up for our three courses in March 2009, I will send it to you free. You save $299.
March 8-9 Imbabura Real Estate Tour
March 10-15 Ecuador Import Export Expedition
March 16-19 Ecuador Coastal Real Estate Tour
Bob Shane will be at our March courses and will be available to provide health balancing.
Get our web based course FREE if you join us in Ecuador this February or March.
Attend any two Ecuador courses or tours in a calendar month…$949 for one. $1,349 for two
Attend any three Ecuador courses or tours in a calendar month…$1,199 for one. $1,799 for two
Future 2009 courses
May 29-31 JGAM Global Asset Strategy Seminar
June 12-14 Shamanic Mingo Tour
June 16-17 Imbabura Real Estate Tour
June 18-21 Ecuador Coastal Real Estate Tour
July 3-6 Ecuador Import Export Expedition
July 8-9 Imbabura Real Estate Tour
July 10-13 Ecuador Coastal Real Estate Tour
July 24-26 IBEZ North Carolina
Sept. 17-21 Ecuador Spanish Course
Sept. 23-24 Imbabura Real Estate Tour
Sept. 25-28 Ecuador Coastal Real Estate Tour
Oct. 9-11 IBEZ North Carolina
Oct. 21-24 Ecuador Import Export Expedition
Nov. 6-8 IBEZ Ecuador
Nov. 9-10 Imbabura Real Estate Tour
Nov. 11-14 Ecuador Coastal Real Estate Tour
