Prudential Vallarta Blog

Prudential Vallarta Realty has just announced the launch of their new “Exceptional Value” program for identifying properties with exceptionally low pricing in relation to value.  

Says Broker/Partner Tere Kimball, “We are providing this new service to our buyers as a way of helping them find the best values for their specific property profile.  It’s really an efficient way to match buyers with the best values in the market.”

Profiles and photos of the properties designated as having Exceptional Value are listed on the agency’s website:  www.prurealtypv.com.  Kimball said, “Of course, we believe that all of our listed properties represent attractive values – or we would not have accepted the listing.”  But she said the new “EV” category represents “a positive response to new and very challenging market conditions.  With an innovative program like Exceptional Values, we can help the buyer cut through the confusion caused by trying to review just too many properties.”

She noted that “In one sense, the oversupply of inventory in all real estate markets today has made it more difficult for clients to sift through the enormous number of product options and reach a decision with confidence.  Our “EV” program pre-screens properties for buyers and gives them a realistic focus on a manageable number of choices in their price range and preferred location.”

The criteria for selecting Exceptional Value properties always begin with “location, location, location,” says Kimball.  Other important factors include access, design, views, amenities, finishes, square footage (covered and open), energy efficiency, and quality of ownership documentation.  

Prudential Vallarta does a formal Comparative Market Analysis to assure that each “EV” property offers a clear price advantage over similar products in the same market.

“We also consider resale and rental potential,” Kimball said.  “But we can’t be 100% scientific.  There is always some degree of instinct and judgment in real estate.  But we find that the truly Exceptional Value properties tend to stand out clearly from the average values in each product category.”

The Exceptional Value program does not focus on “cheap” properties, Kimball explained.  “It’s all about the relationship between price and quality.  For example, we have included a number of Exceptional Value properties priced in the millions of dollars.  They are great buys.   But the EV price range begins at less than US$100,000.”

Prudential Vallarta is the leading listing agency in the Puerto Vallarta/Nuevo Vallarta region, with nearly two hundred properties listed exclusively with the agency.  “We recognize that what really counts is the buyer’s preference and judgment – not ours,” Kimball said.  “Ultimately, we listen to the buyer for guidance – not to our own opinions on value. ”

“But we do think our new “EV” system can be an excellent tool for home and investment buyers entering this complex but very exciting market.”

Tere Kimball Prudential Vallarta Broker   Prudential California Real Estate, Vallarta Division Phone from US and Canada: 1-800-778-3639. Local number: 322-226-2690.

By Marilyn Newman

For those who know me, they know, if asked my opinion, I’m going to give it; right, wrong or indifferent.  Well, no one has asked my opinion, but I’m going to give it anyway.

In today’s “buyer’s market”, if you want a good deal you have to be a visionary—see value before anyone else does.  To sit and wait for someone to offer you a good deal, you’ll be sitting on the sidelines.  If you want a good deal, you have to ask for it.

When we were in a “seller’s market”, we were getting “low-ball” offers all the time.  Some were accepted, some negotiated and some summarily refused. 

A lot of people are sitting on the fence these days.  “We want to wait and see what the market does”, they say.  Well, yes, the market is continuing to go down, but if you want to get the best deals you have to step to the front of the pack and take the initiative.  Don’t wait for the market.  

If the market here continues to fall for a while, why does it make sense to make an offer now?  The best of distressed real estate deals may often happen relatively early in a downward cycle, simply because quality products at a good discount tend to sell first – even when the market is still declining.  So if you continue to wait for a terrific price on a good property, you are likely to lose it.

Another point:  many market rebounds have been “V-shaped,” meaning once they hit the bottom, the rebound is steep and almost immediate.  Real estate recoveries tend not to be as “V-shaped” as the stock market, but trying to “time” the real estate market here, or anywhere, is a very difficult game.  

Do you think Warren Buffet waits for something to happen?  No, he makes it happen.  Bill Gates?  Did he get where he is because he waited for the right time?  No, he made it the right time.  You need to do the same if you are going to win and win big.

If you see the property you want, ask yourself, if I were to buy this property, what price would it take to make me happy?  Then make the offer.  They could say no, but if they say yes… congratulations, you’ve won.  Be a leader not a follower is the “buy-line” in today’s market.

Marilyn Newman is a real estate consultant with Prudential California Realty-Vallarta Division. She can be reached by e-mail at marilyn.newman@prurealtypv.com

… and so it does with the latest gathering of A.M.P.I. –Riviera Nayarita brokers and agents in their May breakfast meeting held this past Tuesday, May 14th, at Las Palmas in Punta Mita; the breakfast meeting was hosted by Jonathon Smart Associate Broker of Coldwell Banker Previews.

Of primary importance to everyone was the question of health and economic issues facing not only our area of Bahia de Banderas, but that of the entire country.

Tere Kimball A.M.P.I Riviera Nayarita President/broker of Prudential Vallarta and Antonia Lavender of Prudential attended a meeting with government officials earlier in the week where measures were outlined which would aid businesses and workers alike to weather the difficult times in which we find ourselves, providing resources and strategies to ease the way until the normal balance returns to our communities.

There was further discussion regarding how we, as a group and individually, can help by networking within our sphere of influence in the real estate community, and also with the media and general public sectors here and abroad.  

Continuing education projects were also announced providing the means to maintain the high level of real estate professionalism A.M.P.I. strives to provide.

For more information on A.M.P.I Riviera Nayarita, contact Elena at El Grupo de Bienes Raices (329) 298-1212 or for AMPI Vallarta, Vanessa Lopez 044.322.135.7421

By Marilyn Newman
Prudential Realty-Vallarta

As a seller, your No. 1 goal is to sell your property as quickly as possible at or near the listing price. In today’s market, where there is much more competition for buyers, it is important to put your best foot, or in this case, home forward because first impressions are vital.

Many of today’s prospective buyers are looking for properties that don’t require a lot of work. Therefore, a property in move-in condition is much more attractive. Before placing it on the market, you may want to invest in making needed repairs.

To get started, make an inspection inside and out. Take inventory of practical and aesthetic repairs. You may want to apply a fresh coat of paint on the walls, doors and cabinetry.  Tighten and polish hardware. Repair cracks in walls. Clean or re-grout kitchen and bathrooms. Repair dripping faucets and drains or plumbing fixtures that aren’t operating.    These are just a few of the details buyers will notice and could make the difference in making an offer.

Some experts also recommend hiring a home inspector to thoroughly and impartially evaluate the property. (For a list of inspectors in your area, ask your real estate professional for recommendations.) A standard report will review the condition of the home’s air conditioning, plumbing and electrical systems, the roof, walls, ceilings, floors, windows and doors.  If there are recommendations for improvement, consult with your real estate professional in prioritizing the list of repairs.

Depending on your goals and budget, you may want to repair only items that could cause significant deterioration to the property, such as a leak. In addition, your local market conditions may dictate how extensive your repairs need to be. Let your budget and your real estate professional guide you.

However, be careful about major repairs. Sellers rarely recoup money on major remodeling projects, and you may want to save funds for your new home. 

A home in good condition demonstrates pride of ownership. Taking the time to make small repairs can go a long way in making sure that your property is presented to potential buyers in its best possible light. They also just might make the sale.

Marilyn Newman is a real estate consultant with Prudential California Realty-Vallarta Division. She can be reached by e-mail at marilyn.newman@prurealtypv.com