The Sara Palin show steamrolls across America and the Tea Party has got a a lot of people excited back in the US.
Normally I try to keep politics and business apart as it has never helped me in either my party beliefs or my business but here I go anyway, sticking my foot in my mouth again. Truth is this girl is a coocooo nincompoop!!
So what does Sara Palin and the Tea Party have to do with us in Panama you ask? Well, we are seeing a phenomenon occurring that we predicted might happen a few years back when the world changed in October 2008. A number of real estate professionals in Panama, the author included, suggested that due to the current economy and the new normal that would prevail, numerous people would consider moving out of the United States and look for other places to live where they may enjoy what is left of the fruits of their labors, living a fuller life for much less money and worries and without having to give up many of the things that they have at home. Panama is a natural and maybe we might benefit from some of the exodus which would help make up for the lack of second home buyers that buoyed this market in the boom years. We would never have guessed that the events that have unfolded since then would strengthen this belief and the numbers are starting to prove it out. Within the last couple of months our little pueblo here in Valle Escondido has seen over a dozen closings with more happening every week. I am talking about a small community of just a 170 completed residences where dozens of homes sat on the market for a year or more. I hear similar stories from people in Panama City that there is a spark in the market once again. See a little about our Pueblo at http://www.valleescondido.biz
At a dinner party last night, I asked a friend of mine who built 4 homes here in Boquete besides her own, how she was doing and she told me that she has sold 3 of them within the last 30 days. Granted, the price adjustments helped but upon inquiring about the profile of the buyers that we are seeing (they are coming from the South, the Midwest and the Pacific Northwest) I am told that many are terrified of what is occurring back home. Now I don’t know if this going to be an across the board trend or it will continue, but I have a feeling that the “spark” people are reporting might lead to another explosion of growth in this Country.
Panama President Ricardo Alberto Martinelli Berrocal
We have new hospitals going in, new roadways being built, significant increases in infrastructure improvements across the board including major airport expansion in the City of David near our home. These are things that were absent a few years ago and are now part of Panama’s new normal thanks to our President. President Ricardo Martinelli is the best thing that could have happened to Panama and he will put Panama on the map creating what I and many others know to be the New Capital of the Americas. http://en.wikipedia.org/wiki/Ricardo_Martinelli
Well, before I dig myself deeper and paste any more pictures of waving politicians, it is time to hit the send button as I must prepare for a trip to Panama City. Big developments are happening in Panama and most of them involve major investments from other than a few retirees coming to Boquete, so it is off to the big City for a few days to learn more.
I hope that you can break away and see what the “New Normal” is in Panama. Live and invest in our solid future !
Tom Brymer
In the US 305-448-1003
In Panama 507-6810-1074