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Roatan and Bay Islands Discussion List Archive
| Posted On: | 03-Mar-2005 |
| From: | RRE [roatanrealestate.....com] |
| Subject: | [roatan] Roatan News Letter |
HELLO ALLand warm greetings from the lovely island of Roatan! Weıre enjoying a very mild winter with balmy days and cool nights you couldnıt ask for a more perfect climate. Iım proud to say that the little company I started over two years ago is growing by leaps and bounds, we now have nine people on staff. Much has been accomplished in these two years a Realtors Association, an agreement with the U.S. Realtors Association, an MLS software system, and our MLS magazine. We started with three companies (Roatan Real Estate, Margo & Matt, Roatan Life) and now boast 15 member companies. Great for everyone you, the realtors, and Roatan! As mentioned in a previous issue, some addresses were lost due to a computer crash. Recently I found a back up so this may be the first letter you have received in awhile or you may get two at once. If there is anything out of the ordinary, please let me know so I can make a correction. As always thank you for your interest and in many instances, our business. Best regards to all, and if you have not been to the island for a while or are still contemplating your first trip, you really need to visit. Life is shortgo for it! This News Letter Issue- RUMOR MILL LEGAL TIDBITS SALES HEAT AGAINST ALL ODDS LISTINGS RUMOR MILL Word is spreading around the island that starting mid-summer, Continental Airlines will be adding a Wednesday flight. Much bigger news, still in the rumor stage, is that American will be flying direct to the island twice weekly from Ft. Lauderdale and Dallas. As many readers know, Dallas was originally part of the Sol Air program a couple years ago that failed due to airline scheduling and management problems. Dallas is a strong market with hub traffic, and Ft. Lauderdale would be beneficial to island travelers. In many instances, the price difference to Ft. Lauderdale from numerous cities in the U.S. is far less than out of Miami. We have traveled through Ft. Lauderdale and saved hundreds of dollars on flights with only an $18.00/40 minute bus ride north from Miami. Well worth the effort. These new flights have not been announced but a reliable source assures me that they are likely to become a reality. Here on the island, many folks have been checking the new environmental and real estate laws concerning density, set backs, water collection, mangrove preservation, etc. A Presidential decree came out in January and while long over due, there are no dramatic changes. Because I do not wish to include unwanted attachments with my newsletters, please email me if you would like a copy of the decree and I will send you a PDF file in English. With this monthıs letter, I am including a small section on residency in Honduras. Buyers considering property purchases can look forward to great capital appreciation but many are seeking a residence they can call home in the dead of winter or for future retirement. Letıs face it. Florida population is growing at about 5% per year and baby boomers will be overcrowding that state in the not too distant future. In Honduras, like the U.S., you cannot have people from foreign countries just land and live. Not everyone can be a resident here either but there are various types of residencies you can qualify for. RETIREE (Pensionado) for this type of residency you would need to show that you have at least $1500 US per month income from outside Honduras. This can be a pension-type income (permanent, from a government or financial institution, or business pension fund or personal funds). That $1500US/month then needs to be converted to the equivalent amount of Honduran currency which is Lempiras. You need to allow about six months for processing. Benefits include the importation of personal belongings, including a car, without paying duties and you are not taxed on your retirement income. Living here as a U.S. citizen gives you considerable tax benefits so you pretty much become tax free. Be aware that many come here thinking they can apply for their retirement residency and that the tax/duty free shipping is automatic. It is not. You need to apply for a ³Dispensa² in order for that to happen. RENTISTA This category of residency is available to those who have a monthly income of $2,500US or more. This income must be from rental properties, investment dividends, interest, or other sources that are not related to employment. To the best of my knowledge this does not have to come from the U.S. which means any country off shore qualifies. INVESTOR This type of residency requires an investment of $50,000US or more in Honduras. You need to provide a project description, timeline for investment and proof of having transferred a minimum of $25,000US into Honduras at the time of your application. It is also necessary to make a cash deposit of $5,000US in the Central Bank of Honduras to guarantee the investment. The business plan must come together within a three year time frame and would need to show how your project would benefit Honduras and its people. SPECIAL PRESENCE PERMITS This last option is a new category that applies to many situations previously covered by regular residency. There are specific requirements, depending on the category of permit. For example, students must provide proof of their studies and economic support. Employees must submit proof of employment, and the employer must also supply documentation for the company. Missionaries and aid workers must provide a letter from the church or institution they are working with, along with proof of economic support. Laws and requirements can change so this is merely an overview. If you are considering any type of Honduran residency you need to communicate with a qualified Honduran attorney. SALES HEAT For those who have been looking for property on Roatan, or thinking about it I have been predicting for some time that sales would warm up and that soon they would be hot. The time is now. Every real estate office on the island is selling well. The implementation of the MLS system, just about island-wide, has facilitated presentation to the consumer. Our bilateral agreement with the U.S. Realtors Association and the evolving of the Realtors Association here has created a much better environment for people who were previously uncertain about investing. AGAINST ALL ODDS Roatan is coming into its own as a travel, tour and retirement destination. Do not get me wrong, it has a very long way to go. Infrastructure in some locations has been lacking and still is. Telecommunication has vastly improved but this too, has a way to go. But if you havenıt been here for a few years and visit today, the difference is remarkable. For those of you who have been thinking, waiting, considering or ³going to,² this is the time to start your search in earnest. Pricing pressure upward has been consistent and it would appear that this is just the beginning. LISTINGS There are only two sides to this duplex and one is just as pretty as the next. These units are large by island standards, (2000 sf indoors) plus lots of decks for views and breezes. Housing on the island is in short supply and these are excellent buys for both what you get and where it is. Check these out. http://www.roatan-realestate.com/listing.php?id=170 Still not large enough? Try this new listing on for size. This five bedroom/six bath home with a pool has a great mid-island location and has everything you could want in a luxury home. http://www.roatan-realestate.com/listing.php?id=184 Bargain hunter? Here are two spots at rock bottom prices that should do the trick for you. Both are great buys at only $35,000 and $42,000 for almost two acres and one acre home sites respectively. http://www.roatan-realestate.com/listing.php?id=157 http://www.roatan-realestate.com/listing.php?id=57 Looking for development opportunities? Any of these three are excellent buys and good investments. http://www.roatan-realestate.com/listing.php?id=178 http://www.roatan-realestate.com/listing.php?id=162 http://www.roatan-realestate.com/listing.php?id=176 Wyndham Resort condos are well on their way as a project. The developer announced that he has obtained his preliminary permitting and plans to break ground at the end of March to begin site preparation. At this point, about half of the 271 units are under contract or in process. This is a great investment alternative for those looking for that all-inclusive touch. http://www.roatan-realestate.com/listing.php?id=170 Next monthıs issue will cover the legalities of property ownership in Honduras and hopefully some new ³Nooks and Crannies² for you. My best to all and I hope the winter storms were not too rough on you. Better wet than white is what I say. Larry Larry Schlesser Owner/Broker Visit our regularly Updated Web Site http://www.roatan-realestate.com Member of Roatan Realtors Assoc., ANIBIR, (Honduran Realtors Assoc). U.S. FAX LINE - 786-319-9945 Phone 445-1612, (from the U.S. dial 011-504-445-1612) U.S. Miami Number 786-380-4864 U.S. MAILING ADDRESS 7801 NW 37th St. #5002 Miami, FL. 33166 http://www.roatanet.com To visit your group on the web, go to: http://groups.yahoo.com/group/roatan/ roatan- : | |
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