Puerto Rico buying snow

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Puerto Rico buying snow

Being in the Real Estate industry for over 25yrs, whether as a lender or currently as a Real Estate agent, I get asked that question all the time and my answer is always, it depends. It really depends on what your goals are, if you are financially ready to buy, have you done your homework on the process, etc. You have traditional seasons in the year in which inventory is plentiful and you have more options. There are Market Conditions that are out of your control that can significantly affect your decision. You also need to consider how much competition you have when buying a home. Depending on the time of the year and what season you are in can affect how much success you have in finding your home. If you currently live in an area where you experience all four seasons, Summer, Fall, Winter, and Spring, this will have an effect on your buying process. Usually in the winter, seller pull their homes off the market because of the whether and holidays. Everyone is in the holiday spirit, and most do not want to spend the time trenching through snow and cold whether looking at homes. Its also hard to see what the home and property looks like when most of it is under snow. The real estate market may fluctuate with the seasons, but there are also broader market forces that can influence housing prices, inventory and current interest rates. So, when the Fed lowered their rate in response to the COVID pandemic and related economic struggles in , mortgage rates also dropped. The apparent savings from a good purchase price on a house may be quickly offset by a high interest rate. Many home buyers are taking advantage of this chance to save big on interest. Even though demand and prices have gone up, plenty of people are finding it a good time to buy a new home. Bear in mind that housing market trends may vary by location. Specific cities — or even neighborhoods — may see trends that differ from the overall market. Bottom line is that when buying real estate in Puerto Rico, timing your purchase can feel important to you. However, each season and market conditions bring with it pros and cons when shopping for your property, including the amount of inventory available, the amount of other buyers you are competing with, prices of the homes, and how rates are affecting your payment and purchase power. If you find the property that checks all the boxes, you are financial ready and confident, the best time to buy that property is NOW!! We would love the opportunity to earn your business and help you find your next Real Estate Property in Puerto Rico. Please contact us today!! This Beautiful Island is where we live, work, and play. EZ Search. When is the Best Time to Buy. The Heartbeat of the Caribbean! Depends, its not always black and white. Subscribe to our blog. Search MLS. Featured Properties. All Available Optioned Sold Featured.

When is the Best Time to Buy

Puerto Rico buying snow

Photo: Jeremy Koreski. In the town of Isabela, in the northwest corner of Puerto Rico, there is a winding boardwalk that spans several miles of undeveloped coastline. On the north side of the path is the ocean, boasting quality reef breaks, some hidden from view by sweeping sand dunes. Across from one of those spots, there used to be a thriving mangrove forest. Today, hundreds of leafless mangroves lay bare and tangled, their bark a lifeless grey. The scene resembles the aftermath of a wildfire, but the opposite happened—after Hurricane Maria, the old boardwalk stymied the natural drainage of the forest. The mangroves drowned. Maria made landfall in Puerto Rico in September as a high-end category 4 hurricane with mph winds. The average household went approximately 41 days without cell phone service, 68 days without water and 84 days without electricity. Some people did not have power for almost a year. After the storm, the Puerto Rican government said that only 64 people had died. A Harvard study later estimated the number to be closer to 4,, due to the long-term lack of medical services, electricity, food and clean water. Today, that self-management is in full swing. CoCo is working to restore the mangrove forest. The signs call the 3. In truth, this land does not have an official reserve designation status from the government. Calling it one is an act of resistance, meant to impose pressure on the government to protect the land. Baker and Nieves fear that without formal protection, the area will eventually fall victim to development. Just before Hurricane Maria, developers and wealthy investors were rapidly buying land and slating it for tourism infrastructure and high-end housing, often in violation of minimally enforced zoning regulations and environmental protections. Then the storm came, halting most projects. Now, there are signs all over the archipelago that development is ramping up again, threatening natural spaces like the Mabodamaca Reserve. But these projects are facing an ignited public who, neglected after Maria, have little tolerance for environmental degradation, government corruption and outside influence. He spent much of the year after the storm coordinating clean water relief with Waves for Water. When he was 12, professional surfer Jorge Nido drove him across the island to Wishing Well, a shallow righthand barreling wave about 10 miles west of La Reserva. For almost as long as Flores has been surfing those waves, many of them have been one construction permit away from destruction. Just before Maria, Flores joined protests opposing the Christopher Columbus Landing Resort, a massive proposed development on the land in front of a number of world-class breaks, including Wishing Well. The wide, grassy valley where the resort would be built is called Playuela. Locals come there to camp, ride horses and fly kites. The reef is frequented by green and hawksbill sea turtles and three species of coral on the endangered species list. Flores and I visited her at her hilltop home in Isabela. Early proposals for the resort included a 17,square-foot casino, 23, square-meter artificial lake, room hotel, hundreds of condos and a shopping centre. Hall said that sediment from construction, oil runoff from cars, chemicals on lawns and potentially faulty septic tanks are just a few of the ways the project would put the environment and wildlife at risk. Hall showed us a scrapbook she keeps with court documents and news clippings from various past battles the community has waged against the resort. Many of the articles quote Flores. As his platform grew over the years, he used it to speak out against the project to any news outlet that would listen. The pages were browned and wrinkled from water damage. When La Liga lost a final court case, Hall was devastated, but the efforts were not in vain. The years of community uproar scared off investors, and the project was shelved. I asked her what she hopes is done with the land. If the ordinance passes, Flores hopes it could serve as a blueprint for other local municipalities to protect their own surf breaks and, therefore, the coastlines. The ordinance would not ban new construction, but the restrictions would be stringent enough that no mega-hotel could possibly comply with them. The crisis prompted the government to rigorously court outside investment by offering generous tax exemptions for newcomers, primarily those from the United States, who move to Puerto Rico. These tax exemptions, along with the rise of remote work during the pandemic, has resulted in a large number of non-Puerto Ricans moving to the archipelago, driving up real-estate prices. But about 20 acres of pasture-like land in front of the shoreline is up for grabs. A wealthy Puerto Rican family is selling it in subdivided lots, two of which are already under contract. Some locals hope that an NGO will purchase the land for conservation and co-manage it with the community. With few options to stop the sale, the community is doing what it can to make its feelings known. A strip of land running through the property is technically owned by the public—the government bought it to make a bike path that was never built. Miguel Canals Silander, a professor of ocean science and engineering at the University of Puerto Rico, was one of the residents who led the bike path effort. The situation reached a boiling point when a video surfaced of a disoriented sea turtle trying to lay eggs in the construction site. A widespread uproar halted the effort, and in February a court ordered the condominium complex to demolish the construction within days. As of July, the condominium owners had still not removed the construction, and on July 4, a group of protestors tore down parts of a cement wall themselves, resulting in the arrest of a protestor. Some hope that more tourism and outside investment will lift Puerto Rico out of economic crisis. Others worry that all the activist attention on these areas will only attract more construction. When we visited the mangrove forest, I asked Baker and Nieves how much development was too much. It depended on how it was done, they said. Tourism could empower the community, or it could displace it. It was late afternoon and the path was starting to fill with joggers and families riding bicycles. Author Profile Gabriela Aoun. Gabriela Aoun is a writer, editor, producer and surfer based in Encinitas, California. Her work aims to empower and inspire people to protect and thrive in the natural world. 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Puerto Rico buying snow