Third Annual Real Estate Conference
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 On Tuesday, May 7, major real estate brokers and developers got together at the main ballroom of the Krystal Hotel for a most illustrating panoramic of the trade’s conditions for Puerto Vallarta and surroundings.
The conference included an exhibit area in the adjacent room where brokers could get acquainted with the newest projects and developments of the bay area and interact with each other during coffee and lunch breaks.
The conference was organized by John Youden from Vallarta Lifestyles, who opened the conference with a welcoming address, a presentation of his selling tools, such as Multi-List and Multi-Dev, and a wealth of information including statistics, economic situation of the market, the competition, new investment alternatives and sources of financing, and more.
 Among the most interesting subjects were the causes for the financial and sub-prime crises in the United States; the conditions of our competing American and Caribbean tourist resorts; the possibilities of obtaining a greater portion of the American investment market and the gigantic resources of the “Baby Boomer” market; the Canadian market with its stronger currency and the domestic market with increasing financing alternatives.
The program also included lecturers on different themes, among them, rentals and their taxes; fractional ownership and other real estate options and the benefits of real estate to the community. On this last theme, the local hotel association was invited to a panel to discuss comments that had been aired regarding condos and villas competing with hotels and affecting their results. It was extremely gratifying to see and hear the professional and positive proposals from both sides agreeing it would be very beneficial to have a representative of the real estate industry occupying a seat in the local Fideicomiso de Turismo (local tourism fund).
After the lunch break there were two panels of realtors and developers with an active participation of the audience, in all, it was a professionally organized function where you could perceive a generalized feeling that while other areas of the world are in a deep crisis; we here are custodians of a most fortunate space and time for our trade, a responsibility of all to preserve.
On a personal note I feel that if Puerto Vallarta and the Bay of Banderas are as strong in their gastronomy as well as in their real estate industry, much of it is owed to professionals like Thierry Blouet and John Youden who have been instrumental in placing us a step ahead of the rest.
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It is up to us to continue growing sustainably.
Eduardo Rincón-Gallardo
E-mail: toureps@prodigy.net.mx
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