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Author Topic: Project Ventana del Pacifico  (Read 9031 times)
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Bob2007
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« on: June 26, 2007, 06:34:59 PM »

I need all the informations you can have about the project located on Ventana del Pacifico (South East of CR). The developer is Ed Mercer and I know he's the biggest contractor in the South of CR. If you have some informations about the project (House/villa) or the developer I will really appreciate because I expect to invest in this project and I would like to have some feedback from others people than the developer. Thank you very much for your help...
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« Reply #1 on: June 27, 2007, 10:23:58 AM »

Hi Bob,

I haven´t heard of this developer, the project name rings a bell though. Is it on the South Caribbean or South Pacific? Anyone who tells me that they are the biggest developer I tend to discount - or take as a warning sign.  If someone is the biggest developer in an area they don´t have to tell you about it and probably won´t.  It´s like when someone has money, you generally can see for yourself or gather that. People who go around telling everyone that they have money, on the other hand, seem to not have money.

However, you can judge for yourself. In order to avoid talking about every developer or development, we have provided a Costa Rica Developer´s and Devlopment Quiz which you can use to judge the development´s progress and how the purchase process the developer is proposing stacks up.
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Russ Martin
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« Reply #2 on: June 28, 2007, 06:00:43 AM »

I have purchased property from Ed Mercer/Ventana del Pacifico, Phase 9 lot 7 & 39.
The following web sites will give you all the info.

windowtothepacific DOT com


Carlos & Patty Thomas
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« Last Edit: June 28, 2007, 07:56:39 AM by Russ » Logged
Bob2007
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« Reply #3 on: June 29, 2007, 10:36:17 AM »

Hi Carlos & Patty Thomas,

Thank you very much for your post. I have some specific questions for you:

1) Have you built houses on your 2 lots ?
2) If yes, can you tell me the duration of the construction (4, 6, 8 months or more to built the houses...)?
3) Do you rent the houses right now?
3) What do you expect (realistically) about the increase of the valuation of yours houses? Do you expect an increase 10%, 15%, 20% or more a year?

Thank you for your answers !

Have a nice day...

Bob2007
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Russ
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« Reply #4 on: June 29, 2007, 05:04:37 PM »

Hate to but in, but I will!

#2 - The length of construction will depend on the square footage you are building also the quality of the construction.  For a 200 square meter (2200 sq. ft.) upscale home 8-12 months is a reasonable time frame. This will depend on which methods you use, for example concrete block construction will take longer than pre-fab methods.

#4 Appreciation - This area has been on the radar for quite some time.  20% per year seems unreasonable to count on for an extended period of time.  Barring of course some sudden improvement in infrastructure (international airport, high speed internet, schools, a marina, etc.)  You will have to do serious research, or speak to a reputable realtor in that area, to determine what a reasonable value would be for long term appreciation. 
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« Reply #5 on: July 04, 2007, 12:27:35 PM »

We have also bought at VDP.  There is an international airport slated to be open by 2010 at Palmar Sur. The good news is that it will drive more population to the area and increase property values.  The bad new is that this area presently is Costa Rica's last frontier and increased population may have a negative effect on its pristine beauty. VDP definitely has their marketing program down pat. My biggest concern with VDP is whether they will take the same professional approach to managing their developments once completed.  I closely inspected the quality of workmanship of the houses we visited this past weekend.  I was fortunate enough to see several homes in different stages of construction. It appears that $75/square foot is basic custom home construction costs including hand made cabinetry, tile floors and countertops and GE appliances and fairly nice lighting fixtures and Hunter fans in all indoor and outdoor living spaces.  They recently changed from cinder block construction to a Styrofoam wall system with wire mesh encased in concrete. This system seems to have strength along with high insulation values.  Ceilings are tongue-in-grove hard wood and electrical wiring is all copper run in conduit using Square-D electrical distribution panels.  Roofing systems look like a barrel tile but are made using a galvanized aluminum laid over an insulated mastic. The mastic absorbs sound and creates a moisture barrier.  The roof system is guaranteed for 25-years and had the look of ceramic without the risk of breakage. Upgrading to granite countertops, adding air conditioning and/or upgrading appliances will add to construction costs.  Of the five potential investor groups represented at VDP this past weekend, all five purchased multiple lots.  Other investors I have spoken with commented that their experience was similar.  I would assume that there is roughly a 30% rescission rate.  When I compare this area's cost to the Northern and Central Pacific Coast properties, this Southern area is much less expensive.  The Southern area also has a much more picturesque landscape as the green mountains run to the sea.   Areas like Jaco and Playa Flamingo's real estate values have doubled every three years. The Southern Pacific area is  rainforest with the largest number of mammals, birds and reptiles anywhere in Central America. There is a new 50,000 square foot hospital that looked about one-month from opening.  I think values will continue to increase at an above-average rate for the next five years.  If the airport opens then ten-years of exceptional growth will be more realistic.  Since the average home being built at VDP is 1,400 to 2,400 square feet, the time to build is running 6-months to 13-months once the site is prepped.
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andre
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« Reply #6 on: July 06, 2007, 07:19:37 PM »

Hello Bob,

Be careful with this developer as they may have sold many lots but they have their problems. Ed Mercer is not the developer but the husband of the developer Sylvian Mercer. I believe Ed Mercer to be a strong sales person but not very credible. He sell property at seminars and pays commissions to 20%. Ed Mercer also sells the property with no title.
Ventana Del Pacifico make many claims about their ability and size however I found most to be untrue. I own property in this development and have been tried to sell for 3 years as others have too.
As I understand it they pass off resale's to Coldwell Banker near the development. I have been contacted by dozens of people who want to sell out of Ventana Del Pacifico because of broken promises and destruction of nature.
If you visit the site ask people in the village about them before you give them money. My advice is to check with the local municipality to determine their validity which is easy to do.
You may also want to post that you are looking for resale's as the prices are 50%.

Do your research!

Good Luck,
Andre Leveque
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Bob2007
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« Reply #7 on: July 09, 2007, 07:53:41 AM »


Hi Andre,

Thank you for your post... I'm doing my due diligence with this project right now. Mr. Leveque, I have a question for you: Your name sound french canadian to me, do you speak french? If so, I would appreciate to speak with you in more details regarding this project and the developer... Let me know if I can contact you by another medium...

Thank you and have a good day !!

Bob2007
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« Reply #8 on: July 10, 2007, 04:42:26 PM »

Hi Bob,

If during your due diligence, you need some legal asistance, I can, at no cost, help you out to check the current legal status of the property or project.

Oscar   
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« Reply #9 on: July 12, 2007, 11:11:24 AM »

Hey guys,

I was introduced to Project Ventana del Pacifico and Ed Mercer at a seminar from Peak Potentials. I was offered the opporuntity to buy a 1/4 acre land with ocean view for $50-60k USD and potentially build for around $250K for a 2bdr House around 1500 sqft. and $310K for 3bdr - down payment at 20%. I was told that you can expect positive cash flow of $10K US / yearly from rental of the property? Does that sound right? I am looking to find out the inside scoop on Ed Mercer and Project Ventana del Pacifico... Pros and cons. The most important thing that I'm looking for is people that have bought there and what their experience has been. Has the "sales pitch" been equal to "product/services delivered"? What kind of problems / "broken promises" has people ran into? How do I know if I'm picking out a good lot vs. a bad one? What do you do about financing? Does anyone know if anyone has successfully completed a purchase through VDP and Ed Mercer and then was successfully able to sell the land and/or built property for a decent profit? What would attract people that that area of Costa Rica anyway? Why would the rentals be in demand considering that many many many homes are supposed to be built there? Lastly, does anyone have the scoop of who Ed Mercer is anyway? What projects have he done in the past? Have they been successful? And what is Sylvian Mercer's (aka Sylvaine Pilault) role and involvement? Thank you for taking the time to read this and please let us know if there is anywhere else to do research and/or connect with people that have been involved with this project.
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andre
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« Reply #10 on: July 14, 2007, 12:18:45 PM »

Hello,

Re: Ventana Del Pacifico.

I'm a surprised that Peak Potentials had Ed Mercer offer Costa Rica property. He is a very bad person and does not keep promises. Many people are still looking for him back in the States.
I have know Ed Mercer for 2 years and can tell you that he seems honest but is not. Nobody likes him in this country because he never stops lies. If you do want to deal with Ventana Del Pacifico make sure you only deal with Sylvain the owner. She will not promise what she cannot do. If you listen to Ed Mercer you will be lied to! Get everything in writing.
Ventana Del Pacifico was good before but now they are are greedy and have many legal problems now. They are way over priced. Gringo market only. If you like the area there are many reputable developers here. Go look and talk to everyone! Never give a deposit! and choose a lawyer to handle the purchase. There a many resales for them that are cheaper, maybe post a inquiry looking for that.
For info on Ventana Del Pacifico poor reputation call direct to The Ministry of Environment 283-8094 www.minae.go.cr or The Setena 234-3367, 234-3368 or visit the local municipality for the truth.
I suggest that you stay away from this company until you have researched them completely. Speak with people who live in the area.

Andre Leveque,

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andre
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« Reply #11 on: July 14, 2007, 12:47:49 PM »

Hello,

Re: Ventana Del Pacifico Purchasers

I'm a surprised to hear that 'Peak Potentials' had Ed Mercer offer Costa Rica property. He is a very bad person and does not keep promises. Many people are still looking for him back in the States.
I have know Ed Mercer for 2 years and can tell you that he seems honest but is not. Nobody likes him in this country because he never stops lies. If you do want to deal with Ventana Del Pacifico make sure you only deal with Sylvain the owner. She will not promise what she cannot do. If you listen to Ed Mercer you will be lied to! Get everything in writing.
Ventana Del Pacifico was good before but now they are are greedy and have many legal problems now. They are way over priced. Gringo market only. If you like the area there are many reputable developers here. Go look and talk to everyone! Never give a deposit! and choose a lawyer to handle the purchase. There a many resales for them that are cheaper, maybe post a inquiry looking for that.
For info on Ventana Del Pacifico poor reputation call direct to The Ministry of Environment 283-8094 www.minae.go.cr or The Setena 234-3367, 234-3368 or visit the local municipality for the truth.
I suggest that you stay away from this company until you have researched them completely. Speak with people who live in the area.

Andre Leveque,
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peaksinvestor
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« Reply #12 on: July 14, 2007, 10:59:40 PM »

Mr. Leveque,

Thank you much for your advice on the Ventana del Pacifico project... You seem very passionate about warning people to be careful and stay away from this project. If you don't mind would you be able to elaborate on what exactly it is that we should watch out for and what specifically did he (Ed Mercer) promise and didn't deliver on? It seems like a good deal, however every sales pitch seems like a good deal. I want to know the real deal from people like you that have bought from him and have been through the process? What kind of legal problems are they having? I already gave a $1500 deposit for a website, personal coaching from Ed, and also a 2 day stay at the Guest House, and a supposed 3 year price freeze on the land and the building of the property... would I be able to get that back? When you bought your property 3 years ago, what were you promised and what specifically has or hasn't been delivered? If you feel uncomfortable posting your answers, may I contact you directly via email or phone? Please let me know and thank you so much for helping us newbies and giving it to us straight! Much needed and appreciated. Thank you for your time as well!

-Peaks Investor

--PS-- Do you know anyone that has had a good experience? Has everyone been lied to and over promised or just certain people? What's the general consenses on this project and is there another blog that has entries like this from people that are involved with this project through Peaks? By the way, how did you hear about this property 3 years ago? Was it at a Peaks Seminar as well?
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« Reply #13 on: July 16, 2007, 08:48:57 AM »

Hi, We are visiting the project at Ventana soon and need to know what other owners have experienced so far in terms of return on investment, timely commission payments when referring business, building quality, and so on...also did anyone negotiate on the raf the local blog claims a 50% higher than market rate and issues with resales. Anyone renting out with profit---we need any feedback.

Thanks, KAZ
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andre
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« Reply #14 on: July 16, 2007, 09:35:54 AM »

Hi Kaz,
There is no rental market here that would make you a profit. Some developers in the area sell based on rental income but is simply not true. Make sure you get rental references before buying or building in Domincal, Uvita and Ochojal.
My friends house here was broken into 3 times and once they lost their appliances. You will need a full time security guard which can be expensive. Ventanas prices are too expensive there are many other developers in the area with normal pricing. I think Cold Well Banker has resales for developers here.
Good Luck
AL
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« Reply #15 on: July 16, 2007, 02:57:45 PM »

Hola Andre,
My husband and I visited Ventana Del Pacifico recently to consider purchasing property there. We were greeted at the local airport by a staff member and went to their guest facilities.  After looking at property for 2 days we decided not to buy from them and also stay in the area longer. We are both happy we did because after speaking with many people in the local town and talking with American owners of some local businesses we found that many of things we were told at a seminar by Marshall Reddick were untrue.  They don’t have titles on many of the properties they sell and they use chemicals to clear land. We spoke to a home owner in the project and they and others are unhappy because they haven't been able to rent their house for 1 year.  The roads are dangerous and some of the animals get hurt or killed on the above ground electricity wires. We also learned that they remove hundreds of large trees when we were told they protected the forests. Not the environmental picture that was painted at the seminar. 
My husband and I did by property in the area about 20 miles north of the other development. We received title immediately and are thrilled with our purchase. 
It just goes to show you that not all is what it seems and with just a little ambition and adventure! you can make the correct decision.
Karen,
Pura Vida!
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CdnInvestor
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« Reply #16 on: July 18, 2007, 01:06:35 PM »

Hi Karen....I'd be very happy to hear about which property you have decided to purchase at. I plan on going to Ventana in the near future and would like to ensure that I do some due diligence and see some other properties as well. Is your property that you purchased in a master plan community? Is it gated? Any details that you can provide will be greatly appreciated! I am also interested if anyone has knowledge of Joya Pacifica in the Quepos /Manuel Antonio area or any other master plan/gated community. Thanks!
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« Reply #17 on: July 21, 2007, 10:24:07 AM »

Just read this. Does not look good for us in the south!

Osa’s Coastline Mismanaged
 
By Dave Sherwood
Tico Times Staff | dsherwood@ticotimes.net

The Osa Peninsula, in Costa Rica's pristine Southern Zone, is the last frontier in what some have called a real estate free-for-all that is sweeping the Pacific coast.

And according to a scathing report by the Comptroller General's Office, the buck stops there.

The 30-page report, released last week, cites a laundry list of grievances against the Municipality of Osa and various government agencies including the Costa Rican Tourism Institute (ICT) and the Ministry of Environment and Energy (MINAE), and charges that the coastal zone in Osa has been exploited “without planning, enforcement or order.”

Specifically, it points to a lack of functioning zoning plans, increasing illegal exploitation of public lands, inefficient property tax collection and faulty, or missing, record of landowners and concessionaires along the coastline and beaches.

In a country deluged with reports of illegal development activity, such revelations might seem mundane – but the Comptroller General's Office has mixed things up a bit.

It has demanded immediate action by the municipality and Osa Mayor Jorge Cole. Specifically, it cites 13 actions the mayor must take within two months to halt the trends – including the demolition of illegal shorefront homes and commercial buildings.

 
Development Concerns Continue: Officials began scrutinizing out-of-control development of the Fila Costeña mountain range on the southern Pacific coast, as seen in this aerial shot taken in March, earlier this year. Another government agency is now demanding urgent action to stem the exploitation of the region's coastal zone.
 
Photo courtesy Jorge Lobo 
Cole insists it's too little, too late.

“This canton has been run like a corner store for the past few years, and while we're grateful for the support of the Comptroller's Office, we're not going to change that overnight,” said Cole in a static-ridden phone interview with The Tico Times Monday.

He has petitioned the Comptroller's Office to take another look at its deadlines – or supply him with the resources necessary to comply.

Cole took office in February and has been at the forefront of a recent movement to control development in the remote Osa Peninsula – working together with the Nature Conservancy and the University of Costa Rica, among others, to put a temporary moratorium on new construction while the municipality drafts zoning plans for the canton (TT, March 16).

He points out that the Comptroller's Office study, which began in 2000 and ended in 2006, is old news – part of a system he's already begun to revamp.

The process of establishing a moratorium, he said, is nearing an end – he hopes to see a vote of the Osa Municipal Council within the next week – but he said the goals of the Comptroller's report are still unrealistic.

“I am not questioning anything in the report,” Cole said. “But the demands require a serious economic investment – and time. We can't resolve years of deficiency and corruption in months.”

Prime Territory

 
The region covered by the report, Osa's Maritime Zone, constitutes 32.4 square kilometers – of which only 16% is administered by a plan regulador, or zoning plan, a small percentage which has given way to virtual chaos, according to the report.

The Maritime Zone is a 200-meter band along most of the coastline of the country where land possession and use is restricted to concessions, or long-term leases.

Golfo Dulce, a saltwater gulf that serves as an invaluable breeding ground for marine life, according to scientists, lies smack in the middle of the zone, a magnet to land hunters and the site of recent large-scale development proposals (TT, May 4).

The report also says investigators found it “impossible to identify the number of concessions granted,” in the Osa Maritime Zone, because of disorganized record keeping within the muncipality.

Cole agreed the situation is a mess – but said his people have been working hard to clean it up.

“Since I took office, we've reviewed, folder by folder, every concession in the zone – almost 2,000 in all,” he said.

The report also insists on a plan for demolishing illegal structures inside the public Maritime Zone – in just two months.

“We have a total of three people working in our office right now. Each of those illegal structures requires its due process. It is just not realistic for us to do it all in two months,” Cole insisted.

This isn't the first time the Comptroller's Office ruled that construction along the nation's coasts was out of control.

In 2005, the Comptroller released a report that reprimanded the municipalities of Nicoya in the northwestern province of Guanacaste and Golfito in the Southern Zone, among others, for neglecting Maritime Zone Law (TT, Sept. 23, 2005).

Just this week, the government affirmed its intentions to build an international airport in Palmar Sur (see separate story), a move some in Osa feel flies in the face of the Comptroller General's findings.

“It is clear from the report that we are just not ready for the kind of effects an airport could have on our region,” said Denise Echeverría, director of the Vida Marina Foundation on the Osa. “We've already seen what happens when you add an airport to a region that is unprepared. Look at Guanacaste.”

Guanacaste municipalities were caught with their pants around their ankles earlier this year when the Federated Association of Engineers and Architects revealed that almost one in four developments in the region lacked permits (TT, March 16).

The Comptroller's report acknowledges that Osa is not the only place such beachfront development problems have been observed.

“This is not an isolated situation. It is repeated in other coastal municipalities throughout the country,” it reads in its closing paragraphs, finishing with the ominous conclusion that the institutions involved are incapable of guaranteeing compliance with any of the regulations that “govern the Maritime Zone.”

The Tico Times contacted these institutions, but the Tourism Institute was not aware of the report and declined to comment, and the Environment Ministry did not return calls by press time.
 
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Snorkel
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« Reply #18 on: July 30, 2007, 08:29:11 AM »

Mr Leveque,

What phase and or property at VDP do you own? I have lived in Ojochal for several years and am aware of may Leveques but none with VDP? Your opinions are very strong for a non-owner...what specifically did VDP do to you and why pretend to own land with them???
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« Reply #19 on: October 08, 2007, 11:38:25 AM »

There is a web site up for the purpose of people who have stories about Ventana Del Pacifico (VDP), Ed Mercer, Sylvaine Pilault, and the rest of that gang.

http://www.ventanasdelpacifico.biz
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« Reply #20 on: October 08, 2007, 11:39:46 AM »

There is a web site up for the purpose of people who have stories about Ventana Del Pacifico (VDP), Ed Mercer, Sylvaine Pilault, and the rest of that gang.

http://www.ventanasdelpacifico.biz
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