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SEARCHIG FOR HOUSES ON SALE IN QUITO TO BE SHOWN FOR FREE IN AN ARTICLE IN THE NY TIMES/BUSCAMOS CASAS PARA PUBLICAR GRATUITAMENTE EN UN ARTICULO DEL NY TIMES.

Se buscan CASAS EN VENTA interesantes en Quito, Ecuador para publicar en un artículo en el NY Times – los criterios básicos:
-La Casa debe estar a la venta.
-Los Propietarios deben estar dispuestos a que un fotógrafo del New York Times tome fotos de la casa.
-La Casa debe estar amoblada.
-El valor de la casa puede variar, pero se prefieren casas entre los $700.000 a $5.000.000 US.

Si usted tiene una propiedad que cumple los criterios por favor hágamelo saber de inmediato…

We’re looking for interesting homes in Quito, Ecuador, for an article in the NY Times – the basic criteria:
-The home must be on sale.
-The owners must be willing to have a New York Times photographer take photos of their home.
-The home must be furnished.
-Homes featured come in all sizes and prices, but typically they fall into the $700,000 to $5 million range

if you have a property that might meets the criteria please let me know right away…

Lina Landivar

lina.landivar.carreno@gmail.com

info@ecuadorservices.org

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Checking to buy a home, house, condo, or land….. in Ecuador

After more than 7 years of living in Ecuador, I can honestly say I have a pretty good grasp on Ecuador’s coastal real estate market. Since I have seen property prices rise at a surprisingly rapid rate, I will like to share a great Real Estate NY Times article that I read today and my personal comments on the topic.

For the article visit this link: House Hunting in…. Ecuador

My personal opinion is that the information you receive from online sources and printed material about living or retiring in Ecuador is not current with reality. When they mentioned beach properties in Ecuador between $10,000 to $50,000 US, I would say that in rare occasions you could find a local beach property at that price, maybe you will find a property that is in a remote beach area, or in desperate need of repair, or it has some legal problems and title problems.

Now Ecuador is a great “beach Paradise”, I honestly could say that is still one of the best Latin America destinations to live and retire; just that you have to be ready to pay a bit more than what is advertised at times. If we compare to other retire heavens along Central and South America, I will say Ecuador can offer you more value to your dollar: Political and Social stability, US dollar currency, beachfront property belongs to you, better weather not as humid or hot, growing economy and very warm and welcoming local people.

What you basically have to do to buy at real local Ecuadorian housing price is research the local market, you may have been told that there is no MLS services in Ecuador, but the real truth is that there are plenty of great local MLS services, I know there are in Spanish, but now a days as the industry gets more globalize, I am pretty sure that soon they will be offer different languages platforms.

Here is one Ecuador MLS that I use often for homes, land, condos sale in Ecuador: www.plusvalia.com

I would recommend doing your homework before getting involve with Real Estate agents or Lawyers in Ecuador, you will find a lot of times that this people are not up to date on prices and surroundings areas news. At times even locals or a person like me with years of local experience on developments can oversea markets tendencies or local governments problems, since it is an emerging economy, a lot of local governments are embracing new laws and changes.

This is exactly what happened to Playas just an hour drive from Guayaquil’s airport, it was expected for Playas to be the next beach spot, but Playas has stagnated in time, there has been no improvement on roads and basic services as it was promise, I would say that it has worsen in that past year, and the local Municipality has no mentioned new plans or improvements.

I’m sad since it is a great beach location with lots of sunshine all year round, but unless they are able to overcome their local politics, there is not much that it can be done.

All of these have push all other beach locations along Coastal Ecuador: Santa Elena to increase on price and demand: Salinas, Punta Blanca, Olon and many more are seeing great construction developments supervise by the local Santa Elena Municipality with great basic services improvements.

Few highlights from the NY Times Real Estate article:

  • The housing market in Ecuador, frequently touted as one of the best and cheapest countries worldwide for retirees, has been supercharged for the last five years, with home prices appreciating annually by 10 to 12 percent, Mr. Morrill said. The global real estate crisis of 2008 had no impact on housing prices there, with a large influx of Ecuadoreans returning home helping to maintain a robust market, he said.

  • “Prices are anywhere from 50 to almost 100 percent less than what you’d pay in Panama or Costa Rica, so it’s still very reasonable,” he said. And there are some signs the market may be cooling a bit, with this year likely to see home prices grow by only 7 to 9 percent, Mr. Morrill said. “There are some new regulations that will probably keep the prices pretty stable for a while,” he said. “These are new requirements for developers that will probably keep the inventory reasonable.”

  • Foreign home buyers in Ecuador are predominantly North Americans, though there are also Europeans, Australians and New Zealanders, agents said. There is a significant German expatriate community in Cuenca. Most recently, many Canadians have been in the market seeking homes in the coastal areas.

  • There are no restrictions on foreign home buyers in Ecuador. Bank mortgages are extremely difficult to obtain, and while some of the larger property developers offer short-term financing, it’s largely a cash market, brokers said.

  • A lawyer is not necessary to buy a home, but some brokers recommend that non-Spanish-speaking foreign buyers hire one, which typically costs about $850. The most important way foreign home buyers can protect themselves is by purchasing only properties that can be registered at the Real Estate Public Registry, Mr. Uhe said. “When you read about nightmares with home purchases in Ecuador, it’s all relating to properties that are unregisterable,” he said, which frequently has to do with title issues.

  • In general, closing costs range from about 1.5 to 2.5 percent of the purchase price, Mr. Morrill said. Traditionally, buyers pay the real estate agent’s fee in Ecuador, but that is changing in many areas, agents said. In Quito and Cuenca, sellers now pay that fee, which is typically 3 to 5 percent. In Vilcabamba, buyers still pay the broker’s fee most of the time, Mr. Uhe said.

  • Property taxes on this home are less than $500 a year, and the homeowner’s association fee is about $120 a month, Mr. Uhe said.

Ecuador’s Ministry of Tourism: ecuador.travel/en

Home’s website: quintaesencial.com

Ecuador property blog: conquistadorinecuador.blogspot.com

Government of Ecuador:  presidencia.gob.ec

Luxury Apartments in Olon, Ecuador (Special Promotion)

Olon Beach is one of the favorite stretches of beach along Ecuador’s Coastline. You have 8 miles of beach; also you can be 100 feet into the water and still only be knee deep and no rip tides. This laid-back coastal city sits approximately 195 km north of Guayaquil’s international airport and just 5 minutes from Montanita, another of Ecuador’s most popular beaches.

You can buy your Ocean view Luxury Condo at the best beach location in Ecuador and finance it through construction.
Prices starting from:
Suites: $79,000 US & Apart.: $92,000 US
Apartments highlights:
• Pre-construction SALE
• 2 -3 Total Bedroom(s)
• 21/2 to 3 Total Bath(s)
• Approx. 1950 sq. ft.
• Balcony in each condo
• Luxury finishes
• Appliances included: microwave, stove and refrigerator
• Pre installed ducts for Air Conditioning
• 1 Car Garage
• Infinity Pool and BBQ area on the beach
• Direct beach access
• Building is on a corner lot
• Outdoors Family Area
• Landscaped Garden
• Building Security
• Fabulous Ocean View

Our financing will be for the 60% of the total price, which will be divided in the following forms of payments:

FINANCING 60%
1. 20% at the purchase/sale contract.
2. 40% in quotas during construction period.

The project is held in escrow during the pre-construction phase by the selected title company, which is an insured account that holds your funds until construction starts.

SPECIAL ONE TIME PROMOTION: Inquiries at linalandivar@ecuadorservices.org

 

 

IMPORTANT NEWS: New Real Estate Regulations in Ecuador as December 2013

SUPERINTENDENCY OF COMPANIES REGULATIONS FOR THE OPERATION OF REAL ESTATE COMPANIES

 

Source: SUPERINTENDENCY OF COMPANIES

Resolution No. SC.DSC.G.13.014 of the Superintendence of Companies comprising the Regulation for the operation of companies that carry out real estate activities was published in Official Register No. 146 on 18 December, 2013.

In accordance with the Regulation, it is mandatory for companies whose corporate objective is real estate activity in any phase (promotion, construction, marketing etc.) and that receive money from clients in advance to delivering housing and buildings to comply with the following:

  • To own the land on which the project will be developed or to hold the fiduciary rights in the trust that owns the land.
  • To obtain the necessary permission for construction from competent public bodies.
  • To possess an economic budget for each project. This must include the duly assessed financial projection, estimated time of completion of the project, the sale price of each housing unit, and the parameters for achieving the break-even point and profitability.
  • To sign and comply with promissory purchase/sale agreements establishing price, payment conditions, closing date and deadline for signing the public deed, and to sign the final deeds of sale.
  • To follow the requirements of the Superintendence of Companies and comply with all provisions issued by it.
  • If companies carry out their activity through a Escrow Business Trust, they must also comply with regulations issued by the National Securities Council.

The Resolution also establishes that for the development of real estate projects that require “financial resources from promissory purchase/sale agreements for such project’s property units, before entering into the agreement a Fiduciary Escrow Trust must be created allowing a fund and trust manager to manage said resources”.

Companies who carry out real estate activity are, among other things, prohibited to enter into private preliminary reservation or promissory sales agreements; to sign more than one promissory sales agreement for the same asset; and to designate money from a specific real estate project to other real estate projects.

The Ombudsman will receive complaints regarding discriminatory or inequitable clauses, without prejudice to complaints made before the Superintendence of Companies and relevant legal action.

The Superintendence of Companies will carry out inspections to verify compliance with the current regulations by real estate companies. In the case of observations, the Company will have five days to give its view on the matter. If the Superintendence of Companies considers that the Company is involved in one or more grounds for intervention, it will proceed to “declare a state of intervention in the company and appoint an intervention supervisor”. The supervisor will issue a report regarding the general situation of the company. If the company cannot apply corrective measures to overcome a negative situation that presents risks to its clients, or if said measures are not complied with within the given deadlines, the Company may be declared dissolved.

December 19, 2013

MLS Services in Ecuador…. is free!

Multiple Listing Service in Ecuador, there are many of them for free and with great online services.

Others will tell you that they are not available mainly because they are still making a profit out of gray “pocket listings” or marking up the For Sale By Owner properties.

Ecuador has no restrictions on foreign investment in real property; you can buy real estate the very same day of your arrival using only your valid passport as identification

You can check my Personal adds on free Multi Listing Services in Ecuador:

Luxury Condos in Olon

Oceanfront Condos – Club and Marina

Pre-Venta Departamentos de Lujo en la Playa de Olon

Legal Real Estate and Development Transactions in Ecuador:

When informal business transactions were first recognized in Ecuador, the discussion focused on inefficient public institutions, cumbersome registration processes and a general distrust of the government – all factors that spur the creation of a market outside a country’s formal structures – does days are gone, Ecuador Real Estate Law enforcement is making its way into this new emerging economy.  If you put together all these new changes with a stable US Dollar economy, Ecuador becomes a great property investment location to live and retire.

Use to be that many locals and foreigners depended on informal Real Estate employment or businesses for a living, but informal employment has had serious consequences at the levels of both the individual and society. Beyond earning levels, informal employment makes OWNER, BUYER, AGENT ‘s basic legal rights vulnerable and difficult to defend.

The only real problem you may find will be the language barrier, there is a straight forward solution: translation services or bilingual proof services. Remember, there are many local Ecuadorians Professionals that speak English and Spanish fluently.

Do Not Pay Buyer’s Agent or Finder’s Fees!

Ecuador is in the process of strict regulation of its Real Estate Market and Development. For many years, Real Estate Developers, Service Providers, Agents, Locals and Foreigners Vendors, For Sale by Owner….. transactions have been mostly cash transfers due to the relaxed nature of informal transactions.

The Ecuadorian law is enforcing and updating its Real Estate Laws, this will improve the overall Real Estate Service Industry and Development. Important for you to know: Ecuadorian Law estates that the Seller pays a sales commission to the listing agent, then the listing agent splits that commission with the agent bringing the buyer to the transaction much like in the US.

How should you go for assistance?

For consumers or legal claims, any local Ecuadorian Legal Attorney or Buffet will be able to help you out, now just be aware of: ANY ATTORNEY THAT ASK YOU FOR MONEY ONLINE, there is no reason for a professional to request any money until you have verify with third parties of their professional background. Like in USA or Canada, you will find many scams online.

The following links will provide you with details on Ecuadorian Laws and the government institutions to go in case you encounter any problems while doing Real Estate business in Ecuador:

Law for Real Estate Agents of Ecuador

Consumers Protection Law of Ecuador

Government Ministry of Industry and Productivity: Consumers Protection Program

Government Office for Peoples Defense

English Post on Ecuador’s New Consumer Protection Law

“Ponte once” beat the crowd! Before boomers start moving to Ecuador.

There is nothing unusual about the time 11:11 or the date 11/11/11, but our brains can’t help noticing the repeating digits, and seeing them as meaningful.

So while getting all this text messages about the great positive energies I was going to get at 11:11 am today the 11th of November 2011, my thoughts related this to a cute little Ecuadorian urban phrase “ponte once”, its literal translations is “ponte = put, once = eleven”, now the expressions real  meaning is “be aware”.

On one side, I thought it will be good to learn a cute local Spanish phrase on my blog,  but than,  I realized how realistic this phrase would apply to the hall world today.

Ponte once – our reality check should be to hurry to Ecuador and beat the crowd!

If you’re at all interested on Ecuador, I’d suggest you get a move-on. The mainstream media is taking note of the tremendous values this country offers.

Lately we are seeing a lot more information about this little tropical country. Most travel, retirement or living overseas websites have picked Ecuador as one of their top “biggest-value buzz-worthy” destinations. As they rightly point out, Ecuador is “under appreciated.” Not for long, we suspect.

Map showing ecuadorean territorial claims on P...

Image via Wikipedia

Now is the precise moment to invest in Ecuador just before the avalanche of baby boomers start searching for new locations where they could afford to live on their pension funds.

Beginning January 1st, 2011 every single day more than 10,000 Baby Boomers will reach the age of 65.  That is going to keep happening every single day for the next 19 years.

What is so appealing about Ecuador? Your dollar will go further than other overseas retirement destinations. Locally people in Ecuador are hoping to keep the rate of inflation low in the long run. In places like Costa Rica or Dominican Republic, the real price-pushers were the expats retirees who focused on beachfront areas closer to their homeland.

Today Ecuador is very accessible from the U.S. — you can fly direct from both Quito and Guayaquil to Miami, Atlanta, Houston, New York, and Atlanta.  Ecuador is an amazing, peaceful place with beautiful beaches, warm weather and really inexpensive beachfront bargains.

I will list some real facts to consider before making Ecuador your next overseas option.

Real Estate and property search:

  • Coastal properties found at bargain basement prices, since Ecuadorians don’t value beach houses the same way that Americans do.  They like to go to the beach twice a year during school breaks, stay in nice hotels, party and then go home to their big cities.
  • Real estate prices in Ecuador have risen slowly since 2000. This almost dormant market may be attributed to the government switched to the American dollar as their currency in that year. My experience from mainly working with local experts has been that prices have stayed the same in recent years with the exception of select areas.
  • House and condo rental rates are so cheap in Ecuador, it would be totally feasible to enjoy Ecuador without investing anything apart from your monthly expenses, thus reducing your investment risk dramatically.
  • Coastal Ecuador is completely out of hurricane paths, and also this is your best option if you’ve ever wanted to walk away from long, bitterly cold winters and brutally hot summers.
  • Foreigners could own property in Ecuador. You can buy directly from local property owners with nothing stopping you to do so. Search local real estate agents, preferably in person. Ask about their career background and their Ecuadorian real estate practices.
  • Purchasing costs are low, hire a well informed Ecuadorian attorney that handles contracts, title searches and visas, one that does it all. There sales commission is only paid by the seller.
  • Right now in the Ecuadorian market that commission on Real Estate goes around 3%.
  • Ecuador has one of the lowest investment requirements to obtain a residency visa of any country I’ve investigated. One way to qualify is to purchase a property valued at $27,000 or more.

Be aware of the following:

  • Mostly there are no licensed realtors and there is NO MLS or other listing agencies to help you on your property search.
  • Real Estate Agents are not licensed professionals in Ecuador, since there is no recognized national authority that governs the licensing process, set guidelines or handles complaints for the licensed agents. It is not likely to change any time soon.
  • There is no Multiple Listing Service; it is almost impossible to get online information for Real Estate in Ecuador, what you get mostly expats and gringos selling online. Just be careful, do your homework as there are many that will prey on an unsuspecting foreigner.
  • You do not need to search out an “English” speaking real estate agent. I think a better course of action would be to seek out a trusted local that will help you with the language so you can deal with Spanish speaking owners directly.
  • The increased exposure will push and turn Ecuador in to the next hotspot on the world´s beachfront real estate scene.
  • Places a long the coast still lack basic infrastructure, especially for retired expats, like good access roads and some basic services. You could get by with wireless internet, bottle water, fresh fish and market stocks.
  • The opportunity for rapid growth is due to a limited supply of property land.  The Ecuadorian coast is not that big and large sections of it are uninhabitable due to national parks or swamps.
  • In Ecuador, like most of Latin America, if the land is not in use, someone else could come “squat” on it, build, and claim it as their own.  It doesn’t matter if it is legal or not, it happens.  If you buy land, start building on it immediately.
  • Try to be present when constructing your house if possible.  If you are not around, you may have delays and cost overruns.  It is a fact in Ecuador that many construction workers will steal materials and slack off if you are not around to apply a little pressure and enforce the deadlines.

Next post will be on purchasing costs and the real cost of living depending on where you want to live in Ecuador. Also some other details that I may have missed out today.

Smile!!!! We found your new sunshine hub.

Guayaquil, the largest city of Ecuador
Image via Wikipedia
Ecuadorian ceviche, made of shrimp, lemon and ...

Image via Wikipedia

Another great candidate for retiring, the Dominican Republic

There’s no shortage of wonderful locations in which you can retire in various parts of the world. It may be a good idea to take a look at the Dominican Republic and see what this region has to offer.

This is a region that is a feast for the eyes, with beautiful beaches, clear water, a wonderfully breezy environment and a lot more. But the reason why it is so popular is because it’s a place where you can live very comfortably for as little as $2,000 or even less.

Although people in the Dominican Republic seem to earn less money, amazingly they are able to live much better, and the pace of their lives is calm and unhurried than people in the United States. Why is that? Because the cost of living in the United States is astronomical compared to the cost of living in the Dominican Republic. Add to this the fact that on top of all the privileges you have living in this country, you can actually get 18% interest on your bank account – tax free! Who could ask for more?

There’s no doubt about it, Dominicans are in the enviable position of being able to live life to the hilt. Remember, your dollar investments here are earning high rates of interest, all of which is tax-free. This is a country that has one of the fastest growing economies in the world. And then, take a look at health care facilities here. You won’t be disappointed – they are as modern as you need them to be.

You may argue that there are other places in the Caribbean that are just as appealing. True enough, but the scope of the Dominican Republic for both the investor and the retired person remain unmatched.

Just wait! In few more days we will show you the best property options at this wonderfull destination, take a look in this video, and you will follow in love right away..

The Joys of the Dominican Republic

Dominican Republic – another affordable country for sun-loving boomers and prospect expat retires. This is great news!! Our Dominican Republic collaborator has new locations and opportunities on our radar screen.

Welcome to invest in the Dominican Republic

Imagine a place in the Caribbean surrounded by a contrast between the mountains, the sea, and a beautiful marina bringing to life the perfect harmony between natural beauty and human creativity. A place where summer lasts all year long and every day begins with a new experience; exploring incredible destinations, enjoying a safe and familiar environment.

Well, stop imagining, keep up the speed with us and soon we will publish great properties opportunities.

FUTURE PROPERTY DEVELOPMENT

Offering the highest standard in commodity and luxury whether it’s in its exclusive hotels or in any of its many residences; apartments, villas and townhouses, you will find in Samaná Bay and Sabana de la Mar your dream come true,  The Samaná Peninsula is known to have one of the most beautiful bays in the world.

The Dominican Republic has a modern airport system in the main regions of the country, providing comfortable and efficient access. Given its privileged location in the bay, sailing from Puerto Rico, Bahamas and Florida is ideal for those who rather arrive by water.

You will find both locations in the following map.

Check every year for this “Home Expo fair in Guayaquil” to get your dream property in Ecuador.

Now heading towards its 4th year, it is the leading event in Ecuador dedicated to educating investors and traders of all levels.

When you make the decision to buy a home to live in, or for an investment, it is critical that you immerse yourself with information and insights from trusted, experienced experts – and this is on-tap at the show.

With a major exhibition and over 70 high-powered seminars across three information-packed days, visitors will leave each show with a greater understanding of what’s required to make smarter (and more profitable) decisions when researching, finding and buying their next property in Ecuador.

As an independent exhibition participant our objective is to provide visitors with the opportunity to gain direct access to the most impartial, highly qualified and successful experts from Ecuador and around the world.

So if you only attend one property education event this year – make it EXPO-HABITAT 2011 in Guayaquil, Ecuador, one of the most leading events.

Local projects, properties and contractors… all in one place for you to search your best real local price property of your dream.

I trust the following website will provide you with an inside view of the show, I could help you out with all the information you need since everything will be outline in Spanish.

http://www.expoplaza.ec/ferias/habitat/

Start building a network of professionals and friends overseas as the stepping stones to a great life overseas…

I don’t need to remind you of the problems we are facing today, in North America and elsewhere. You may already be watching your nest egg shrink…and, like many, may already be taking a hit on your day-to-day quality of life.

So, we get excited around the idea of a brand-new start in a brand-new place where you can enjoy all the things you might be missing out on right now.

Then, reality sets in.

You will have to sort through an overwhelming number of possibilities out there, making all of us tipsy when thinking about crossing the fence to a complete new setting in life.

First, let´s check some basic ideas to help you see if living or retiring overseas works for you.

People who chose to retire overseas weren’t prepared to settle for an average retirement. They were looking for a better quality life under a lower income.

The word “retirement” has nothing to do with checking out or taking it easy, unless you want it to and could afford to. Maybe this is your case, here you will find great places were you could improve your golf swing or join a bridge club…or you could spend your days lazing in a hammock beneath a palm tree. And no one would think any less of you.

For the rest of us who are not ready to take up a position on the sidelines of life, there are plenty of options to show you here in Ecuador, South America. And, I am pretty sure they could be applied in other Latin American countries.

The world is alive with opportunities for fun and for profit, no matter what your age. That’s because it is easier today than ever before to live, travel, invest, and retire as best suits your personal agenda.

Now, if all this ideas are for you, then you should start working on a plan to make your dream come true. My first suggestion will be to start building an online network of people (professionals and friends) that will help you along the journey.

I know sometimes it is difficult to garner the right information. They usually tell you that you are not going to find reliable answers to your life-overseas questions by simply surfing the web…or reading all the books you can find on the subject.

I believe that if we pull together to provide the right information online from honest professionals at each local place, we will be able to overcome this sort of limitation.

Apply your common sense and ask every question that you can possibly conceive. On this blog, we should be able to provide an open source of information for your plans to live overseas, and not to depend only on paid sources from people who have experience traveling or living overseas and making a profit out of it.

If you like to share o become friends to help others online, please write something about your experiences when going overseas. Here you have few topics to start springing ideas in you:

How much money do I need to set aside for going overseas? Should I sell my house? Will I rent a property overseas or should I buy?

Things like local health care, Immigration laws, ways to make an extra income, local customs and the way they deal with foreigners, how to buy property, especially in developing markets, any main issues faced by all would-be overseas retirees…

Good luck and welcome to the Global Community!

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