Panama is one of the fastest growing real estate markets in the world; and Trump Ocean Club – one of the first luxury projects to enter the market, is “sailing” to the finish line.  Utilizing strategic marketing and offering a quality product, this gorgeous landmark is half-way built and almost fully sold-out.  Not all Panama City buildings, though, have the guarantee of Trump distinction and quality, which has resulted in an influx of marketing “tricks” to boost slow (or non-existent) sales.

One element of Trump Ocean Club’s success has been the team’s avoidance of short cuts or ploys, and a constant focus on creating (and delivering) the best, most exclusive and unique project in Panama. TOCs competitors have used all kinds of silly methods to save their projects, such as paying a celebrity to say they are "owners", throwing million dollar parties, giving away cars, etc.  The buyers have been smarter than that – they simply want the best product on the market, and they found it at Trump Ocean Club. In reference to the recent celebrity tales heard around town, celebrities that buy in a Trump building know they will never broadcast their information. TOC respect’s their client’s privacy immensely, that's what make it so exclusive.  The proof as they say is in the pudding – Trump Ocean Club has made constant sales each and every month, often tripling the numbers of even their closest competitors.

(February 21, 2008, Miami-FL)-Wyndham Resorts has set its sights on Costa Rica for their latest and most luxurious condo project; the real estate experts have chosen Jaco Beach as the grounds to create their exclusive and ultra modern property. Surrounded by stunning beaches and mountains, Wyndham Resort & Residences Jaco Beach offers the finest amenities combined with the world’s most breathtaking sights. Jaco Beach is one of the most desirable locations throughout Costa Rica for families, business travelers, and surfing aficionados alike. Yet, until now, options to own a luxury beachfront property in this “urban oasis” have been limited and sub-par.  Wyndham Resort & Residences Jaco Beach will create a new model for luxury living and vacationing through their magnificent beach front condo-hotel in Jacó, Puntarenas. 

Jaco Beach’s nightlife will be revolutionized by the chic Rooftop Sunset Bar atop the resort featuring breathtaking views of the Pacific Ocean. The bar will be the first of its kind on the beaches of Costa Rica. A plethora of activities will cater to the whims of everyone from surfers and fishers to golf enthusiasts with the area’s consistent waves, top sport fishing areas, and beaches. Of note will be the 18 hole golf course located less than 5 minutes from the property, as well as a public Marina for the avid boater and yachtsman. With such nearby activities and Costa Rica’s natural beauty, Wyndham Resort Jaco Beach will be a perfect destination for second home buyers, couples, and families.

As we have all heard, the strength of the Euro has improved European travel and spending in the United States.  It has also kept certain real estate and condo markets afloat while others have been struggling.  New York condos have continued to sell to wealthy Europeans and is a great example of a marketplace supported by the strong euro. 

Investment is Florida condos has slowed while buyers wait to see what happens with the pending recession and the decline of the housing market.  We are at or near the bottom and many realize that it is a good time to buy condos at a great value as long as one plans to hold onto the asset for a while.  The Florida housing market may not be benefitting from European buyers as much as it was a year or two ago, but the condo rental market is strong.  Many buyers have their homes, vacation condos, and investment condos up for rent.  Some of the best renters out their now are Europeans.  Florida is still a great place to live and a hot travel destination despite the economy.  Europeans tend to stay longer than a few nights and come here to spend money!

Last quarter in some areas of Florida, condo rentals outperformed hotel occupancy.  Vacationers enjoy the privacy and beachfront locations of many of the vacation condos up for rent.  Most of the time, condo rentals in good locations have been much more expensive than hotel rates but that is not the case anymore.  Owners want to ensure they have some rental income to assist with the mortgage payments...some is better than none!

Atlanta has been one of the fastest growing metropolitan cities in our Nation for a long time.  Much of the is growth is derived from job opportunities and massive amounts of new residential construction.  Atlanta has been popular with the young professional crowd as well for some time.  The nightlife of Buckhead and the midtown area is flooded with great dining, bars, nightclubs, and entertainment.  The construction of many new Atlanta condos have provided new homes for current residents as well as young people moving to the city every year.

As I mentioned above Midtown Atlanta is a very popular and centralized location with many office buildings, hotels, and new Atlanta condo high-rises.  To name a few new condo developments in the midtown area, they include Luxe on 14th street, Aqua Midtown on 10th Street, and The Reynolds on Peachtree.  One of the great aspects of buying new homes in Atlanta is the affordable prices.  The new condos just mentioned have units ranging in price from only $144,000 to the mid $400,000's.  Compared to the ret of the major cities in the United States, these are unbeatable prices!

New Condos Online is proud to introduce another exiting partnership!  We have joined forces with Realestock.com to provide all of our clients their cutting edge technology platform.  Realestock.com is a new site that features luxury condos and homes and creates a community of two way communitcation between buyers and developers/sales representatives.  Realestock.com provides users with a safe and easy to use portal for viewing new luxury condo and home communities and for gathering the necessary buying information.

Realestock.com has hired Edelman, the largest PR firm in the country, to support the launch of their exciting new platform.  Realestock.com is not a traditional listing site nor does it stive to become another MLS flooded with all types of listings.  The site will focus on luxury lifestyles, new condos and urban communities, resort communities and luxury estates.  Users will be able to communicate directly with the sales representatives through chats, forums, and blogs. 

Another exciting feature of Realestock.com is that users can become members of this exclusive world of luxury real estate offers for FREE.  Users can post profiles and be alerted of upcoming events, grand openings, special offers, etc.  As the leader in online marketing for new condo developments and luxury home communities, New Condos Online was invited to be a featured partner of Realestock.com.  This means that all of our valued clients will also be featured on Realestock.com and benefit from their agressive technology and PR efforts.  We plan to grow the partnership with combined marketing and PR efforts.  More exciting things to come...

New Condos Online is proud to announce that we have been recognized as one of the fastest growing companies in San Diego!  Biz San Diego held a competition to seek out local privately held companies that have experienced exceptional growth over the past few years.  The finalists covered a wide array of industries from breweries to technology companies.  The awards dinner was at The Prado in Balboa Park here in san Diego.  Of all the companies in San Diego, 20 finalists were chosen.  Of the 20 finalists, 10 companies won awards in order of their growth.  New Condos Online was excited to find out that we earned fourth place!  None of this would have been possible without our amazing users and clients.  We will continue to improve our service and provide an exceptional marketplace for real estate.

NCO is proud to announce that we are opening up our newly upgraded agent community to ALL international regions.  Agents from across the globe can post profiles, videos, listings, as well as network with other agents and create lasting business partnerships.  The world is becoming increasingly more flat as technology brings us all closer together in one marketplace.  Real estate is no different.  Many American condo investors and buyers are looking outside the United States for new opportunities while foreign buyers and investors looking for new condos are looking here.

Real Estate agents worldwide are the glue that binds all of this together and an integral part of the transaction process bringing local knowledge and years of expertise to the table.  In an era of online social networking, it makes sense to continue to provide new platforms for real estate professionals to meet and build relationships.  New Condos Online continues to strive to create a productive, fun, and unique experience for our users, clients, and agents across the world.

Our new Agent Community is and always will be a FREE service so please do not hesitate to take advantage.  List you new condo developments today and start networking!

As the current state of the US markets continue to remain troubled, US and foreign investors and condo buyers are looking for sound opportunities, good asset protection, and positive ROI.  Panama condos, high-rise luxury developments, and resort condo communities have been providing these great investment vehicles now for a few years. 

The Panama market is strong and values continue to increase as does new construction.  Panama resembles Miami of the late 90's and early 2000's.  Does this mean a "bubble" will be created by over supply and unrealistic price increases?  Probably not any time soon.  Latin American markets are a bit more complicated to invest in and with more money required to put down by buyers, investors must think more long term.  These regulations will keep th "flippers" out but still give savvy buyers and condo investors an opportunity for good returns over time. 

New Panama condos for sale are still priced very well and give the buyer a good profit margin over time.  Not to mention, Panama is increasingly becoming a better place to live as the government improves infrastructure, hosptials, schools, and overall safety. 

More doom and gloom press about the condo market hits the pages of newspapers and online publications every day.  Homeowners continue to worry about their house or condo values going down, home buyers are continually wondering how low prices will go (referred to as “on the fence”) and basically waiting to see what happens to rates, and banks continue to worry about cleaning up the credit mess and rising rate of foreclosures. 

Well, we are not in a wait and see market anymore!  We are right in the middle of things and people are starting to take action.  The Fed is supplying the necessary means to give some comfort to the damage industry, home and condo owners now understand they need to simple hang on and not think short term, and most importantly people are starting to buy again.  Rates are going way down as are values which open the flood gates for buying opportunity from both homebuyers as well as investors who will hold the properties for a long time and rent them out.  News came out today showing homes sales are actually up over 2%.  We will still see some volatility though so let’s not get ahead of ourselves and think that we are out of this.

Thousands of new condos and homes will be hitting the sales path in major cities all over the country as new construction homes and condos in areas like Phoenix, Atlanta, Dallas, San Diego, los Angeles and New York come to completion.  Many are worries what a flood of new units will do to an already saturated market.  Many also ask why condo developers would continue to build and finish projects when there is already so much inventory sitting idle. 

New Condos Online's finance and consulting division, NCO Capital, represented at the Distressed Real Estate Conference in Miami this week.  The show was a great success for all in attendance.  The best part about the conferences and the most valuable goal is the educational factor.  Real estate professionals, condo developers, consultants, investors, and agents attended the show to learn more about the coming months and years and how to weather the volatile housing market.

As most of us know, distressed real estate concerns homes, condos, and development projects that are in financial disarray and/or having difficulty moving product.  A market such as this sets a great foundation for condo investors to buy at a discount and utilize some creative exit strategies.  The builders do not always win in this scenario but there are great opportunities for both the condo builders and buyer/investors to get what they need.

Over the next year there will be a multitude of condo investments on the market to buy in bulk or as single unit opportunities.  This is why investment groups and developers alike are raising capital and starting their own funds to purchase distressed real estate while the price is right.  In my opinion, there will continue be buying opportunities for savvy condo investors throughout the rest of the year and into next year.

Let us not forget however about all the great opportunities in the world of new construction condos.  As the Fed continues to lower rates, buyers will have increasingly good financial options to lock into.  Low rates couple with slightly lower prices creates a win-win for all buyers...and the agents representing them!

Exciting things are happening in Costa Rica and other Central American markets where real estate and condos are experiencing double digit appreciation much like we saw in California and Florida before the housing bust.  This growth persists in countries such as Costa Rica, Panama, and Belize. This reality coupled with low prices for homes and condos make these markets key targets for foreign investors, home buyers, US buyers and investors, and investment clubs. 

According to many local experts we are just at the cusp of the growth.   Better infrastructure, schools, hospitals, government stability, and safety are all providing a sound foundation for fast and healthy growth.  The question is whether these markets will resemble the current US markets in 5 years with overvalued properties and an abundance of supply sitting on the market.  I think this will all depend on how investors tackle this opportunity. 

Prices are so low relative to US prices that even with rapid appreciation it would take a while for Costa Rica condos and Panama condos to be drastically overvalued.   It is more difficult to buy property in Central America as an investor because most countries call for 30% down payments or more.  This requirement will bring more qualified investors who seek long term holds and keep out the people who do not really have the liquid capital for proper investing. 

We still can’t be sure who will win the upcoming election not to mention what will happen with Obama and Clinton.  At the end of the day, who will be the real winner?  We hope to say that the US Dollar will come out on top!

Many economists are predicting a positive upward bounce for the dollar (post-election) which will be great for the United States and our global economy.  It also means that real estate investments and condo investments may have a short-lived window of opportunity…for the buyer.  The Fed will be lowering rates AGAIN and the real estate bargains and distressed real estate opportunities may not last at the low current low prices.  I personally think there will be great condo investments throughout the rest of 2008 and that we are not quite at the “bottom” yet. 

From the perspective of international condo buyers and investors, the idea of buying up distressed real estate and foreclosed homes and condos might seem a bit harsh.  On the other hand, it is safe to say that throughout this year, foreign investors will not find better deals on condos and homes for years to come, if ever again.  The combination of the housing recession and the weak dollar give foreign buyers and condo investors the perfect opportunity to strike.  It is important for foreign investors to keep a close watch on the US housing market trends and communicate regularly with local agents to find the best deals.

It is not unusual to find investment condos all over the country for $100,000 to $300,000 off the market price.  Builders still need to move this inventory and are willing to work with buyers to get these condos and homes sold. 

I just returned from a quick trip out to Las Vegas to meet with some clients and tour a few developments.  Of course, the sales for Las Vegas condos have slowed a bit like in every other market, but as we all know...Las vegas is a completely different world!  Las Vegas will continue to grow and attract people from all over the world.  The enertainment industry will not slow down in this city and will continue to fuel job growth as will ongoing new construction of condos, homes and commercial buildings.

Local real estate expert and Senior VP of Investor Relations from Coldwell Banker, Shanda Sumpter, took us around to meet with developers from South Strip developments such as Loft 5 and One Las Vegas.  When you're there, the South Strip area doesn't look like much...but what you do see with just a little bit of "vision" is opportunity.  If you look at the city plans for the South Strip you will see many new Las vegas condos going up, new resorts, new entertainment centers, and so much more.  Shanda also mentioned that Las Vegas will be experiencing a housing shortage believe it or not on the coming years.  Much of this goes back to simple supply and demand.  With about 50% of the planned condo developments in Las Vegas cancelled, the city is not seeing the large flood of inventory that we thought would happen.  We will however continue to see more people moving to Las Vegas at a steady pace, so when we come out of this glut, there will be more people and fewer Las Vegas condos available. 

During a recent forum with local real estate agents, the topic of the night was the state of the downtown Seattle condo market amidst the national housing turbulence.  The following is a collection of some of the forum’s most frequently asked questions as addressed by Dean Jones, a principal at Seattle-based Realogics, Inc.:

Is there a condo bubble in downtown Seattle?

No.  Housing bubbles suggest that property values have ballooned beyond sustainability and are subject to a severe correction (devaluation), which is not the case in the Puget Sound region.  Seattle was a late bloomer to the “urban renaissance” trend, so it didn’t experience the same kind of investor exuberance that inflated market values in cities like Miami or San Diego.  Having learned from what occurred in these other markets, most Seattle condo developers placed restrictions on investor presales, curbing the potential for future fallout based on shaky speculation.  Seattle has strong demand from owner-occupiers and second home buyers.  Despite recent slowdowns, property values in Seattle have been consistently rising, and the housing market is deemed the most stable in the U.S.

Won’t the housing slump affecting much of the U.S. reach Seattle, too?

I know we are all tired of the doom and gloom news about the market, house values, foreclosures, etc.  Those of us in the real estate industry keep a close eye on the cyclical nature of the market, or at least we should.  As much as we would all like to turn away from the pending doom, it is more realistic and responsible to face the news and really dig into the economic factors. 

Foreclosures are at record highs and it is not getting any better any time soon.  The Fed can only do so much and people tend to over value the positive result that rates cuts will have on the home and condo markets.  Homes and condos will still sell throughout this year and current owners will still try to sell but not at the rate that they once could.  When we talk "recession" we need to look at all factors facing the housing industry; and consumer spending overall has an affect.  Also, all the talk about the baby boomer generation is just as relevant now as it was in the condo boom.  Many sellers who have homes they want to downsize from are in no rush to unload their homes at the current values and will want to ride this out before moving.  This will have an effect on the sale of new condos and homes. 

Over the next year, baby boomers across the country will be retiring.  And since about half of this generation's wealth is in their home values, they will want to be unloading this inventory onto the market to liquidate their assets.  This will affect the already saturated home and condo surplus. 

Almost everyone knows by now that you have to be online to generate the most exposure for any business.  It is of course no different for real estate.  When builders, agents, or investors, are marketing their condos and homes to the masses, the most cost effective way to this is online.  OK...so we have established this as pretty much fact.  Now we have to dig into the true realities of online marketing for condos and homes.

The "internet" buyer or "Internet" lead MUST be treated differently that someone who walks into the sales office.  Many people know this, but many still refuse to grasp this reality.  NAR studies show over 80% of buyers use the Internet as their primary initial tool in searching for homes and condos, vacation condos, rentals, etc.  And yes, this is now regardless of age or demographic...everyone is online.  People spend months sometimes looking online.

Here is where agents fall short much of the time (I hope no one takes offense to this because this message is meant purely as an educational tool)...the "Internet" lead may not be ready to buy for months.  That is OK!  This is where the relationship must begin.  If you are an agent and you receive an email from a possible buyer inquiring about your product, that is a good sign.  Yes, there are a lot of "lookers" out there but most of those "lookers" eventually turn into buyers.  The question is...are they going to buy a condo or home from you, or are you going to let them slip through your fingers and buy from someone else because you didn't feel like taking the time to build the relationship?

We are gearing up for another great year at New Condos Online and have some exciting new technologies and business models that will benefit our users, our clients, and the home building industry alike.  We all know that times are tough and they are not about to get much easier any time soon.  In the mean time, all we can do is help each other and work together in effectively marketing new condos and homes to the willing buyers...they are out there!

By researching our user based and home buying trends, we have noticed that many people looking for condos and townhomes also have aspirations to live in single family homes.  Some feel they can't afford it or do not need that much space but there are great and affordable opportunities in the home market as well.  Throughout this year and into next year, we will see the market flooded with lower prices and good deals for home and condo buyers.  Overall, this is not great for the housing industry but the correction does offer the buyers and investors some opportunity.  Many people out there, depending on price, are simply looking for a nice home, with plenty of space, that is in the area they desire.  This could be a home, townhome, or condo.  Through a partnership with one of the largest home builders in the nation, New Condos Online will be offering single family home communities on the site as well.  There will be certain functionalities and sorting features so users can easily define what they are looking for.

We are also building out our agent community with better technology and a more advanced networking platform.  This will give agents a better resource within our site to grow their businesses and engage in the kind of networking that leads to more transactions.  Agents will also be able to upload videos, flyers, etc.

More articles keep coming out from economists about how "the worst is yet to come".  The vets of the industry are usually more inclined to agree with the economists and the younger real estate professionals who have not weathered a long and severe real estate bust, are generally more inclined to try to stay positive.  There is pessimistic, and then there is just plain realistic. 

The last time we saw a big condo bust like this was in the late 70's.  People keep talking about when the market will correct and how long it will be at the bottom.  The economists say the worst has yet to come and that things will stay bad through 2009.  Well, maybe that is the case...the questions is...what do we do until that time.  You don't have to have 40 years in the business and gone through bankruptcy a few times to see when it is time to diversify and take precautions.  Of course, all that experience helps but if we learn from historic trends and apply them to our business models now, much pain and financial loss can be avoided.

We are proud to announce the launch of a new partnership between NCO and Toll Brothers Inc. to showcase 21 new condo developments from across the nation.  NCO will go live with Toll Brother's new development listings on Friday and will be featuring projects from California to Virginia...coast to coast!  NCO will also be launching comprehensive email marketing campaigns for all of Toll Brother's new condo projects that are part of the partnership.

Another exciting announcement to note is that NCO will be launching its first single family home listings exclusively for Toll Brothers for a short time.  New Condos Online will then be opening this opportunity to all current and new home builder clients across the world.  I know what you're thinking...it seems strange that the largest condo advertising website would feature single family homes.  In fact, it makes perfect sense.  So many home buyers out there searching for condos would also consider (or might even prefer) a new single family home.  Most are under the impression that they can't afford it...in many cases this is not true.

Recently, my family and I purchased a new home.  Our search started online of course and we were under the impression that a new condo or townhome would be where we would land.  We ended up finding a great opportunity with a huge 4 bedroom home...the price had come down quite a bit.  Almost $250,000 lower than when it was built in 2000!  Again, we found our home on the Internet!

As one of the largest and most respected home and condo builders in the world, Toll Brothers Inc. will bring great new value to our users and offer exciting new homes and condos across the country.  We are thrilled to welcome Toll Brothers Inc. as a new highly valued client and look forward to a long business relationship.

Condo and commercial development is booming in Panama in efforts to meet the high demands for Panama condos and homes, hotels and tourist accommodations, infrastructure.  Many people who come to visit Panama also invest in Panama real estate and condos, become involved in construction and building, and take advantage of the great tax advantages and cheap labor available. The Panamanian Institute of Architecture and Urbanism shows that new construction of high-rise condos, luxury resorts, new commercial development and office space is the fuel that keeps the Panamanian economy alive and well.  Legislation has even been passed to further stimulate new construction which offers special tax incentives to builders. Developers of new Panama condos can receive great incentives and benefits based on these new legislations.  For example, builders working in designated “tourist” zones” are granted 20 year tax exemptions!!  In September 2006, new legislation was authorized providing 15 year tax exemptions for builders constructing new Panama condos and homes.

But wait, it gets even better…individuals and builders who do invest in Panama (i.e. building new condos and commercial builders) are now granted the possibility of work visas and citizenship! Having had a historically strong economy in Latin America, Panama has had steady growth, low inflation rates, and a growing population which is setting the area up for further success as a major economic powerhouse.  Economic growth was 6.3% in 2006, continuing a strong five-year upward trend.

Las Vegas is a much different market than any other in the country.  Though it is in the center of the desert, the city has managed to become a global brand attracting visitors, home builders, residents, media, entertainment of all kinds, and both domestic and foreign investment.  Las Vegas condos have been a hot commodity for second home buyers, investors and local residents for many years now.  Some of the largest mixed use resort, hotel, and condo developments in the world are currently under construction.  Unfortunately, Las Vegas has fallen victim to the downturn on the housing market and has even been hit harder than other cities.  Any city that attracts so much speculation and investors looking to turn a quick profit will come under greater pressure when the market slows.  The same thing happened in Miami.  And like Miami, Las Vegas is and will continue to be a highly sought after place to live, work, and play.  So for the long run, things can only improve for Las Vegas.

One of the historic buoys that has kept Las Vegas afloat during economic downturns is actually increasing new construction on the strip.  New resort development has been known to pump the economy up and provide the staple items necessary for a city to survive tough times.  The most important staple item being jobs!  The construction of new Las Vegas condos and massive resort communities drastically increases employment opportunities first in construction, the service industry, entertainment, retail, etc.  All of the job opportunities then translate into an overall population increase in the Valley further fueling the economy.

As we all know Las Vegas condos have the been leading the buzz in the national housing boom and condo investment market for the past few years.  New Las Vegas condos and high-rise developments have been flooding the market and still are.  Many projects have been canceled due to lack of pre-sales and financing issues.  Construction costs of course have played a major role in slowing things down on the construction side while fleeing investors have helped to slow things down on the buying side.  There are some new condos and condo hotel projects that are actually defying the odds and outpacing other developments with their pre-sales.  City Center is a perfect example of this.  However, many builders and real estate companies have been leasing Las Vegas condos in many of these new developments to provide some form of income.

Nights at Vegas is a local real estate and property management company that is in this situation right now.  The problem for them is that they lease condos in the new Trump International Hotel and Tower.  Donald Trump also owns a lease management company that leases condos in the development and earns a 50% of the rental income.  Nights at Vegas earns 20% of the rental income and users the "Trump" brand for marketing and promotional efforts.  Donald recently banned the firm from using the Trump brand which has completely hindered their ability to operate as it gives the appearance that they have no connection to the development.  Nights at Vegas is suing Donald for $4 billion!  The firm is suing based on violations of anti-trust laws and various unfair competition laws. That is quite a lofty goal!  Good luck!

Post hurricane Katrina New Orleans has undergone massive redevelopment projects including new retail, master planned communities, central business districts, apartments and of course New Orleans condos.  It has been more than two years since the disaster and in that time there have been many new condos proposed…only a few of which have been canceled.  New residential development has been part of the rebuilding plan by the city but what they didn’t predict was the overall effect of the slowing housing market.  Sales have definitely slowed, and as for many condo projects around the country, the banks have slowed down their pace of funding construction loans. 

Some amazing New Orleans condos such as Vantage Tower in downtown New Orleans have been canceled due to the drastic increase in construction costs coupled with the slower than expected amount of job growth.  New Orleans has been trying to revitalize its urban core with new retail, office, and luxury condos in the downtown area but without enough jobs and willing buyers who can afford these new condos, it has been a difficult task.

Countries such as Panama, Costa Rica, Honduras, Nicaragua, Guatemala and Belize provide a wealth of political, economic, and ethnic diversity.  Over the past 20 years Central America, once considered very dangerous and politically tumultuous, has developed into a world class tourist destination as well as a big target for US and foreign real estate developers and investors...especially in the area of new high-rise condos and resort communities.

Panama condos continue to make strides as major players such as Trump enter the market further branding the area for success.  Panama once only know for the “canal” know attracts European, Asian and many Latin American cultures and money!  But who knows what will happen as we continue to flood that market...will prices continue to increase creating the dreaded bubble?

Apparently, Nicaragua is now considered to be the safest country in Central America according to the Harvard Business School studies.  If so, then we can only presume there will be an ever increasing amount of international consumer confidence in that area. 

Before “pulling the trigger” on your new Panama condos or investment properties I would strongly suggest many trips to the desired area, consultations with local real estate experts and attorneys, and the gain a sound understanding of the purchase process.  Central America and all of Latin America will continue to gain world-wide recognition for luxury condos and home building, especially as these countries further advance their water systems, Internet access, infrastructure, and economies. 

The answer is most definitely yes!  As buyers, investors and speculators began search for other markets to enter while leaving behind a disastrous state of affairs here in the US, new markets like Costa Rica and Panama became open to the feeding frenzy.  Costa Rica has been a popular market for building and investment by US buyers and real estate companies for many years now but Panama is a bit new to the scene.

Once Trump entered the scene officially branding the area as a viable condo market all bets were off.  During 2007 prices began to sky-rocket and new construction was everywhere.  Panama condos have been on everyone’s mind over the past year.  US and other foreign buyers and investors have been flooding the market.  Sounds familiar right?

So to go back to my question above…yes, when the US enters a housing slump and possible recession, buyers, investors and speculators seek other opportunities outside the US…they want someplace else to “park” their money.  Panama condos seem like a great place to me.  On the other hand, what does it take for us to push another once healthy and exciting market into its own “bubble” situation?

Well, the Fed made another major rate cut as part of their emergency action procedures to battle the current market conditions.  What does this mean for current owners and aspiring buyers?  We keep hearing that it is a buyer’s market.  It kind of depends who is saying it...if it is a real estate agent telling you this, make sure you have all the facts and your personal finances in order before doing anything.  In all honesty though, they are right.  There are many good opportunities for long term buyer/owners.

One major shockwave rippling through the housing industry is the ever increasing rate of foreclosures...especially on condos.  Condo foreclosures are at an all time high and it can have a direct impact on other owners living in the same building.  Buyers are there looking for great deals, but are concerned about the effects of foreclosures in buildings they are interested in.  Even for the long term thinkers, condo foreclosures can have an impact on current owners.

Here is what to consider: (1) Anytime that condos are foreclosed on in a give building there is a direct financial burden placed on that building and its association.  Keep in mind that condo owners are paying for housing association fees and other expenses that are put in place to help run operating expenses and keep common areas in good condition.  When that money is not paid by owners that are foreclosed on by the bank, the association must make necessary adjustments.  This usually means that current condo owners have to pay their pro-rata share of the increased expenses; and (2) the longer these expenses accrue and current owners have to keep footing the bill for those who default on payments, the more likely it will have a negative impact on values.

When we generally think of high-rise condos and office buildings we think of major metropolitan cities like Chicago, New York, Los Angeles, etc.  We imagine thriving urban centers with retail and all the amenities that create the live, work, and play environment.  High-rise condos seem to be best fitted for high density city cores where building up is the only option.  Of course we all know that this is not the case and we are seeing the demographic across the country change.  More people young and old are interested in the mystique and convenience afforded by high-rise living.  The ads are sexy, the architecture is generally cutting edge, and the building amenities service all ages. 

On city I never really think about in this respect is Little Rock, Arkansas.  Apparently Little Rock is experiencing its only little boom with high-rise condos.  More new developments are going up than ever before and the market is holding strong.  Little Rock is taking on the model that so many other cities have in the past 10 years where they strive to bring people back to the city’s core.  Let’s not forget that Little Rock does have big business and major corporate headquarters such as Alltel. 

The official sales program has begun for what will be the tallest residential and environmentally sound building in the world.  There has been a lot of buzz around these new luxury Chicago condos and the global marketing campaign will include a road show hitting major cities across the world.  The project is of course called The Chicago Spire and has one of the most unique designs created by architect Santiago Calatrava. 

The tower reaches 2,000 feet into the Chicago skyline and has the appearance of a futuristic drill bit.  The amazing Chicago condos are scheduled to be completed in 2011,  The Spire will have 1,194 new condos all with unique floor plans ranging from 500 square feet to well over 10,000 square feet.  The building will also have 52,000 square feet of amenity space including retail space, business facilities, and a children’s playroom!  The condos will start at $750,000 and go to $40,000,000 for the largest two-story penthouse.  Chicago condos have been continuing to sell quite well considering the national housing market statistics.  The absorption rates are still healthy and new developments are moving forward.  The market is expected to have corrected by 2011 but pre-sales are always the most challenging part of the sales cycle in a down market.  Like New York, Chicago is a city that attracts buyers and investors from around the world and is really the original birth place to the sky-scraper.  The global marketing campaign will be crucial in attracting buyers  for pre-sales. 

Miami condos were probably some of the first home product to be hit by the slump.  As we all know Miami was leading the condo boom while being flooded with buyers and investors from the United States and abroad.  While the market started to correct and make the downward shift, builders were still moving forward with projects and flooding the market with more condos.  This is understandable knowing that these massive condo highrises are years in the making and go into planning, financing, and construction phases while the housing market is healthy.  All builders can do is go off of years of experience (hopefully), following market trends, hope for the best but plan for the worst. 

During the condo boom from 2005 through 2007 there were almost as many condos planned in Manhattan, New York as there were in Miami.  The problem in Miami has been that only 25% of those planned units have been constructed.  This is actually a good thing for the time being because inventory levels for Miami condos are rising while the absorption rates for New York condos are staying quite healthy.  Inventory levels in New York are actually going down...even with all of the new condos being built anf planned for 2008. 

Below is a new press release going out about some recent successful efforts made in online markets and sales for Seattle condo developments:

The condo market has slowed a bit due to the nature of the national housing industry, a decrease in sales, and the high volume of inventory.  Many markets are in a state of crisis while others are surviving the storm.  Cities such as Seattle, Washington were never overrun with investors and speculators which helped keep values stable and absorption rates healthy.  Seattle has continued to redevelop the downtown area with fantastic residential growth, more retail, and a sound infrastructure.  Downtown Seattle is quickly becoming a true urban core.

The Internet has become the fastest, most cost effective method for real estate marketing and advertising for agents and home builders alike.  Two of the most visited websites that feature new Seattle condos, UrbanCondominiums.com and NewCondosOnline.com, have formally partnered to further bridge the gap between builders and condo buyers.  Approximately 80% of home buyers use the Internet to search for new homes and use online resources as a primary tool before ever contacting an agent.  Internet-based marketing is one of the only mediums that offer detailed analytics so the advertiser knows exactly what they are getting for their money.  One of the largest challenges is to track the results of online advertising for real estate all the way through to the close of a transaction.