Prudential Vallarta Blog

Real estate developers in the Bay of Banderas region may soon be able to feature the A.M.P.I. logo in their advertising – if they comply with A.M.P.I. requirements for project documentation and commission payments to professional real estate agents.

Tere Kimball, president of the A.M.P.I Riviera – Nayarita chapter, and Saul Groman, Vice President of the same chapter, explained that the new developer membership program will require that developers allow the review of their project documentation by A.M.P.I. board members. They must also agree to pay standard commission rates to A.M.P.I. member realtors.

Kimball said, “The A.M.P.I. developer membership program will be good for developers and especially good for buyers. Under current market conditions, we need to do everything possible to make certain that new developments are open and transparent about their documentation. We owe that to our clients.”

The new Partial Urban Development Plan of the Bahia de Banderas was presented by Sergio Barajas and Sergio Castro of Sauri y Asociados. A second and more complete presentation will be scheduled by the end of this month. A.M.P.I. members and affiliates as well as the public will be invited.

A.M.P.I. is the National Association of Real Estate Professionals. The three local A.M.P.I. chapters met on August 7 at the new Hotel des Artistes at Punta de Mita. More than 70 real estate professionals toured this innovative project located in Anclote.

For more information on A.M.P.I Riviera – Nayarita, call Elena at El Grupo de Bienes Raices (329) 298-1790 or for AMPI Vallarta call Tom Carota at (322) 223-5511.

All 12 homes in Phase I at Real Nuevo Vallarta have been sold, according to Mariano Rios, the agent in charge of sales at Prudential Vallarta.

The agency is now accepting reservations for Phase II, with groundbreaking planned for March 08 “The first phase has already shown excellent appreciation” he said. “We are just as excited about Phase II.”

“We are not surprised that sales have been so strong for this development,” said (agent) Mariano Rios. “The property has a unique residential concept that assures the privacy of a traditional neighborhood cul-de-sac location.”

Mariano Rios (the agent) notes that Real Nuevo Vallarta has boutique elegance with refined community amenities. “The property is ideal for young families looking for a secure, exclusive environment.”

Real Nuevo Vallarta is located just inside the North entrance to Nuevo Vallarta, on the right hand side, just before the plume that goes into the residential area.

From the moment you pass through the entrance gate, you enter a new world that draws your attention to the details of this developer´s (well known architect Ernesto del Castillo) concept: to bring a new community together while maintaining a sense of ample space and privacy.

A garden oasis in the center of the property is defined by lush landscaping appropriate for its tropical setting. There is a beautiful swimming pool and pergolas that provide the perfect veil from the sun. The deck and palapa around the pool area will entice you to enjoy complete relaxation just a few steps from your home. The pool comes equipped with a wet bar area and two grills for hosting your family, neighbors and friends.

There are a very limited number of 3 and 4 bedroom homes available. Discounted pre-construction prices for Phase II start from $336,000.00 USD.

Contact Mariano Rios at Prudential California Realty, Vallarta Division.
Phone: 297 5146 or 044 322 109 7166.

As the first “Adult Active Living” Beachfront Condominium Project in Mexico

Luma may not have a typical “condo development” name, but that’s because it’s not a typical condo project. Its unique features have attracted extensive international coverage by publications from the New York Times to the Kiplinger Report.

The project is newsworthy because it is the first of its kind – the first project in Mexico designed specifically and exclusively for people over 50.

Medical treatment will be provided by an English-speaking physician at an on-site private clinic. Yearly physicals, eye exams, basic dermatology, respiratory and orthopedic services will all be available, along with basic medical care and referrals to specialists.

But being first in the “50+” market is not Luma’s only distinction. It is also a master planned, luxury beachfront community with unique amenities that set it apart from the broad range of new condo projects on the Bay.

For example, on-site medical care is only one facet of a comprehensive health program. Luma will offer “a strong focus on wellness and preventative medicine,” according to Alex Urrutia, Luma Sales Director.

“It is this unique mix of beachfront luxury with post-50 features that have really set us apart in this market,” Urrutia says. “We are not just another condo project. We are truly unique and, yes, we are the first.”

Luma broke ground on October 18 of last year, and a beautiful sales studio is now open with a spectacular oceanfront sales model. Completion of the first stage is scheduled for Fall of next year.

Luma is located on the beaches of Nuevo Vallarta on Paseo de los Cocoteros #56, just north of Playa Royale. Call for an appointment at 322-226-7290.

International Luma Coverage:

Excerpts from some of the international press coverage on Luma.

“Sheltered by tranquil Banderas Bay and shadowed by the verdant Sierra Madres, Nuevo Vallarta is home to Luma. . . [It] will neighbor to the tony Paradise Village Resort and Luma clients will enjoy use of its amenities. Humpback whales, sea turtles and other creatures are drawn to the warm waters of Banderas Bay and Luma’s position along the coast offers prime viewing.”
Where to Retire Magazine, “Discoveries: Introducing, Luma in Nuevo Vallarta, Mexico,” March/April 2008

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“This community for the 50-plus set will be in Paradise Village, a 440-acre resort and residential enclave. . . . The 1,800- to 3,500-square-foot condos in the towers will have large terraces and floor-to-ceiling windows; there will also be 6,200-square-foot penthouse units that will feature private pools and palapa-style, thatch-roofed terraces.”
New York Times, “Escapes – Breaking Ground,” by Nick Kaye March 7, 2008

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“The Mexican community of Puerto Vallarta has long been a favorite destination for Canadian travelers with its quaint cobblestone streets and shops . . . But soon there will be an extra reason to visit. [Luma] is being described as the first ‘full-ownership active-adult beachfront community.’”
Forever Young (link to PDF), “Luma Rising,” by Don Wall December 2007

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“A joint venture between Front Porch, which is known for its retirement communities, and Mexico-based Grupo Krone, a real estate development company, Luma will delve into the mind-body-spirit connection, provide an onsite health clinic and opportunities for its residents to do volunteer work in the larger community.”
Wall Street Journal , “Regions Resorts and Holiday are a Hit,” November 28, 2007

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“If you like sunshine and you want to head south… we have a great place, Luma Living. . . These condos are gorgeous!”
NBC-San Diego 7/39, Streetside with Kimberly King November 31, 2007

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“Older Americans have been moving south for decades, but now they’re stampeding beyond the Sun Belt and across the border. . . . Front Porch, a California non-profit that creates residential communities for those aged 50 and over, will open Luma in 2009.”
SmartMoney, “Your Hacienda Awaits,” by Peter Keating January 2008

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“Mexico has always been a popular Latin American destination for U.S. retirees. . . you can buy one of 400 units at Luma (LumaLiving.com), the first U.S. developed active adult community in Mexico.”
Kiplinger’s Retirement Planning 2007, “The Lure of Living” Fall 2007

Designed and priced to fill an important mid-level market niche, Yubarta has announced it will complete the first five homes at its Marina Vallarta development by the end of this year.

The adage about the importance of location in real estate applies to Yubarta. Named after the famous Humpback whales that winter in Banderas Bay, the development is located in one of Vallarta´s most sought after residential neighborhoods. Bordering the lush green fairways of the Marina Golf Course, the site is ideal for families, golfers or for any owners who want space and tranquility within the Marina Vallarta community.

The 90 single family residences at Yubarta are just minutes from the bustling Marina boardwalk and the beach. It is also conveniently close to the best schools in the area, the Marina mall and Vallarta’s international airport.

Yubarta’s Model Home

The project is attractively priced and offers every amenity. Common areas and recreational spaces take up one third of the master plan, each carefully designed to meet the needs of any growing family or snowbirds looking to enjoy a tropical lifestyle. The development includes two pools, large playground area,fitness center, an outdoor sports center and landscaped gardens.

Homes start at US$323,000 and residential Lots US$87,490. The entire project has been pre-approved for mortgage financing.

For further information, contact Veronica Eggleston at Prudential California Realty at 226 2690 or cellular 044 322 110 3448

Manuel Flores, an award winning sales manager for full ownership and fractional homes at Mayan Island, has joined the Prudential Vallarta sales organization. Prudential Vallarta has consistently been rated one of the top three realty offices in the Puerto Vallarta real estate market and looks forward to his addition to maintain this leadership.

Flores has a 22 year record of remarkable success in real estate sales, both in the Vallarta area and in Acapulco where he held senior sales and sales management positions at both the Mayan Island and the Brisas Marques.

Prudential Vallarta has assigned Flores to the prestigious Luma “Active Adult Living” condominium project in Nuevo Vallarta. “I’m thrilled to be a part of the Prudential team for the Luma project,” said Flores. “Luma is unique in Mexico. The first of its kind. And the strong sales response has already demonstrated the viability of the Active Adult Living concept in Mexico.”

Luma is a 264 unit luxury beachfront project exclusively targeting the “50+” age group of second home/retirement home buyers. As the first Mexican example of this concept, Luma has drawn international media coverage, including articles in the New York Times, the Wall Street Journal and the Kiplinger Report.

Luma Sales Director Alexander Urrutia said, “We are very fortunate to have someone with Manuel’s depth of experience and track record of achievement.”

Tere Kimball, Prudential Vallarta Broker / Partner, said, “Manuel Flores is an ideal representative for a project with the international importance of Luma. We are so pleased that he has joined our organization.”

Residences at Luma include spacious one-, two- and three-bedroom condominiums with dramatic ocean and mountain views. Amenities include a comfortable lobby lounge, café and bar, library, wellness center with an ocean view, massage room, Pilates and yoga center, saltwater infinity pools, bocce court, sports and game room, ocean-view terraces and private marina. A “Luma Lifestyle Concierge” will coordinate everything from restaurant reservations and excursions to housekeeping and chef services.

Located within the Paradise Village Resort complex, Luma provides its residents with exclusive access to the Robert Von Hagge-designed El Tigre Golf Course, spas, restaurants and bars. Luma offers close proximity to shopping, American-style health care, high-speed Internet access and English-speaking staff.

Luma’s construction is well under way. The first phase is scheduled to open in late 2009.

Additional information is available by calling toll-free 866-554-LUMA (866-554-5862) in the U.S., or 322-226-7290 from within Mexico. Or go to www.LumaLiving.com. Luma’s on-site Sales Studio and Model Unit are open seven days a week in Nuevo Vallarta.

One of the largest and most prestigious accounting firms in the world hosted a presentation for Banderas Bay area real estate professionals on Friday, April 25.

The event, held at the Westin Resort and Spa, was attended by more than 80 persons and was coordinated by Harold Hoekstra of Deloitte, in close cooperation with the Bay area’s three A.M.P.I. Chapters (The Mexican Association of Real Estate Professionals). Hoekstra is Deloitte’s Director of National Tourism and Real Estate Practice in Mexico.

A.M.P.I. Vallarta president, David Pullen, said “the seminar was an excellent contribution to A.M.P.I.’s ongoing commitment to raise educational standards among A.M.P.I. members.” Pullen, who is also President of PV Realty said the seminar had unique value in bringing the A.M.P.I.’s membership into direct contact with a truly global accounting and financial advisory firm. Deloitte has a worldwide staff of more than 150,000 employees. They provide a broad range of accounting, tax, audit and financial advisory services in 140 countries.

Tere Kimball, president of A.M.P.I. Nayarita (North Bay) said the seminar was “an important experience for A.M.P.I. member agents who may not have had previous exposure to an international perspective on the Mexican and U.S. economies.” Kimball is also the Broker/Partner for Prudential Vallarta.

Deloitte advisors covered the following topics at the seminar:

• Horacio Navas spoke about the trends in the current and future economic conditions in Mexico, with a useful review of the impact of the US economy on business in Mexico.
• Luis Gomez and Guillermo Duran spoke about the a general background review of Mexican real estate, including individual fideicomisos (trusts), condotels, rental pools, tax obligations from renting real estate in Mexico, registration requirements for taxpayers, returns, invoices, the value added tax, business flat tax and some practical structures to deal with tax obligations.

The Deloitte team also covered tax and legal and market issues related to the new flat tax and value added tax (IVA). The Deloitte team defined alternative approaches for dealing with these complex issues, which include potential changes in tax incentives.

Kimball also noted that the tax and economic issues discussed at the seminar will affect everyone in the Vallarta area real estate business including developers, realtors and even current and future homeowners. “The event really opened our perspective on how important it is to be able to introduce our clients to these issues,” said Kimball

For more information on how to become an AMPI member please contact A.M.P.I Riviera – Nayarita, with Elena at (329) 298-1212 / A.M.P.I. Vallarta call Tom at (322) 223.5511/ A.M.P.I. Compostela call Juan José at

Alexis Burwell of La Punta Tere Kimball of Prudential and Tim Koogle of El Banco

Tim Koogle, former Yahoo CEO, and now the developer of El Banco Estates, presented his vision for the development of El Banco at the project location in Punta Mita.

Koogle made the presentation to 45 real estate professionals attending the AMPI Riviera-Nayarita monthly breakfast meeting on March 6th, hosted by La Punta Realty, the exclusive representative for the El Banco project.

Koogle said, “My wife, Pam, and I have fallen in love with both the Puerto Vallarta area and Central Mexico. Pam, who is my partner in life and business, and I selected a world class, bi-cultural design team who could create an entirely new classical Mexican architecture, which we call now ‘New World Spanish Colonial.”

After three years of careful planning, Tim Koogle and Pam Scott-Koogle believe that El Banco represents an entirely new celebration of classic Spanish architecture. The development will blend new architectural elements with open arches, a restrained elegance and timeless materials. Tim noted that the project has required the best of Mexico’s long tradition of artisan craftsmanship provided by some of the country’s finest stonemasons, wood-carvers and ironworkers.

The project is designed to complement the site’s extraordinary natural features: rolling hills and a spectacular beach frontage. Tim and Pam have focused on simplicity as a guiding principal in creating a community in perfect balance with its surroundings. El Banco stands as one of the most luxurious – and ecologically conscious – boutique projects within Mexico.

The four areas of luxury living are El Banco Estates, Beach Villas, Casitas by the Lake, and Villas by the Park. Two of the most important features of the project are a desalinization water plant and underground infrastructure.

Koogle says that their vision for El Banco is to leave as much of the 100-plus pristine acres as natural as possible. Even upon completion, wide-open landscaped areas with plants native to the region will stretch in all directions.

The project is now under way with the very first two estate homes each priced at US$6.2 million.

For more information on A.M.P.I Riviera – Nayarita, call Elena at El Grupo de Bienes Raices (329) 298-1212 or for AMPI Vallarta call Tom Carota at (322) 223.5511.

Nearly 100 Vallarta area realtors toured the new La Privada Villas on Thursday, February 7^th.

This gated residential community fills an important niche as an exclusive, luxury community bordering a world class golf facility: the famed El Tigre Golf Course in Nuevo Vallarta. La Privada Villas overlook the emerald green fairways and blue water features that define this extraordinary course.

La Privada is a one-of-a-kind development featuring extensive amenities, including privileged access to a private beach club, marina, spa and a beautiful recreation center. Designed by the well known Ernesto Truqui of Truqui Construcciones, La Privada is limited to just 32 luxury villas.

Pricing is surprisingly affordable, starting at $344,000US. For more information, contact Project Manager Desireé Lara at 297-4819. Cell: 322-139-0460.

La Privada is represented by Prudential California Realty, Vallarta Division, www.prurealtypv.com.