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Dear reader, 

Property on Honduras’ Bay Islands remains a smart buy today. A year after Hurricane Mitch devastated the Honduran mainland - breezing past Roatan and Utila, leaving them virtually untouched - properties continue to sell for well below market value - 30 percent to 50 percent below. One local told me: 

“The other day, I was standing on a beach near Punta Gorda (on the East end of the island) where a seller was offering 78 acres for $20,000 an acre, 2 acres minimum. To put this price in perspective - someone was building a house on a half-acre lot next door that he had bought for $85,000.” 

You see, despite efforts by the Honduran Tourist Board and the local residents to spread the word that these islands remain as pristine as ever, tourists shied away this year. The local economy suffered, and property owners strapped for cash sold their properties for a fraction of their worth. 

Tourists are just now starting to return. Finally the dive boats are finally filling up, and the hotels that sat nearly empty last season are at long last renting their rooms. Property prices are inching back up - though they are still far below pre-Mitch levels. For raw land, the actual list prices have been reduced 10 percent to 20 percent, but the selling prices seem to be up to 50 percent less than the original list prices. Sellers are motivated. 

These islands are ready to boom. One IL reader who visited a couple months ago said Roatan reminded him of St. Thomas 20 years ago. Indeed, there’s a mall going in, a Hyatt in the works, and two drive-through banks under construction. Julio Eglesias is among the investors funding a golf course at the east end of the island. Cruise ships are discovering this place; 2 years ago none docked here; now, there are at least 3 a week.

You won’t be disappointed with what you discover here. We’ll begin our trip on Roatan, where we’ll introduce you to our best contacts and give you one-on-one access to them. You’ll meet realtors, attorneys, investment advisers, bankers, architects, builders, local expatriates, and more and learn more in one day than you’d learn in a month by yourself. 

Purple bougainvillea, pink hibiscus
You’ll find Roatan mountainous and lush. Bright bougainvillea and hibiscus plants fill lovely gardens, and passion-fruit vines cling to porch railings. High up in the hills, you can buy a lot with a view of both sides of the island and catch cool breezes all year. The white-sand beaches here are almost deserted. The water is a crystal-clear turquoise, and the snorkeling is among the best you’ll find anywhere.

From Roatan, we’ll head to Utila where the diving is spectacular. This little island invites a quiet retreat. The town, with its sand roads and curving pathways, is built of colorful gingerbread houses with well-kept gardens. We’ll stay here for two nights and have time to explore by boat every property for sale - most of them beachfront. We’ll dine with the mayor, you’ll meet several IL subscribers who have invested here already, and you’ll have plenty of time to swim and relax.

En route back to Roatan, we’ll stop for the day on Guanaja to meet with local developers and take a tour of the places on offer. This tiny island was hit hard by Mitch, but if you’re willing to take a longer-term look at the possibilities here, you’re likely to find properties discounted now that will be worth much, much more several years from now, once the island has fully recovered.

You’re invited to several cocktail parties, all hosted in the fabulous homes of local residents. At the end of the week is a luncheon hosted at a lovely development near West End on Roatan. When our group was there last April, nobody wanted to get out of the pool. And by the end of the afternoon, at least one couple had decided to stay and bought a home there.

You’ll have your share of rum punch at these events, to be sure. But really they are meant to help you figure out what you like. They allow you a chance to see inside places you’d normally just point to from the road, and to get a sense for what living here is really like. I look forward to introducing you to the Bay Islands and the best investment opportunity we’ve seen in this region in the last decade. If you’d like more details about the trip, please contact me at (800)926-6575 or (561)243-6276, or visit our Web site: tours@gate.net.

Sincerely,
 

Barbara Perriello
Director, IL Discovery Tours
P.S. September 15 this year, Belize enacted what is without question the most attractive “retiree” legislation available anywhere in the world today. To qualify, you need show only that you have a monthly income of as little as US$2,000. No red tape. And this program could easily save you tens of thousands of dollars in taxes each year. 

Not only that, but you don’t even have to take up physical residence in Belize to participate. Two Belizean companies have formed a turnkey package that, for as low as $100 a month, will give you a permanent “virtual” presence and address in Belize. 

Because I feel sure you can benefit from this program and I understand its participation is likely to be capped; I want to make sure you’ve got the full story as soon as possible. I’ve arranged a special expedition to Belize, January 25-31, 2000.  Call for details...