| Ecuador Real
Estate Archive IV
Updated July, 23 2005
By
Gary Scott
To help you get a feel of Ecuador
real estate we have posted this special archive that lists many of the hundreds
of messages we have shared with our readers about Ecuador real estate this decade.
Is This a Middle Eastern Plot?
I continue to look in every corner
for glimpses of what is really going on in Ecuador. Merri and I are committed
to help the poor in this country, so we have stuck through thick and thin. But
we realize that many people who follow us down are looking mainly for profit so
I have accepted the commitment to keep trying to see Ecuador's economic potential
in advance. I believe this is a time of incredible opportunity, but am continually
looking at the opinions of others.
Sometimes answers I find are surprising.
This was especially the case
when I discussed the position with indigenous leader Taita Yatchak when he visited
us here at the farm. He pointed out Ecuador's strong Middle Eastern connection
and large Arab influence in South America. Two of the last Presidents in Ecuador
for example (Bucaram and Mahuad) were of Middle Eastern decent.
Taita Yatchak reminded me of
this old, deep Arab influence throughout Venezuela, Colombia, Ecuador and Peru
and then told me that the Arabs have made new connections with their Mid Eastern
brethren. He believes these connections are purposely stirring up trouble in this
region.
Why?
Think about it. Ecuador and Venezuela
are the two largest oil producers in South America. Who benefits most (along with
Ecuador and Venezuela) from political, economic and or a military crisis in these
countries that push oil prices up? This seemed far fetched at first but the more
I thought about it the more likely it seemed to make sense.
This could however play into
the hands of Ecuador's President Noboa and help Ecuador's economy in the short
term
For example Stratford Intelligence
reports that Noboa is seeking benefits from Plan Colombia because Ecuador is likely
to suffer consequences of the U.S.-financed military offensive against drug traffickers
in Colombia. The United States has offered Ecuador $20 million but President Gustavo
Noboa wants $250 million and $300 million for military material, including helicopters
and river-patrol boats. Noboa wants an entire Plan Colombia for Ecuador. The U.S.
cannot afford to ignores these demands lest Ecuador rethinks its support for Plan
Colombia, including the use of Ecuador's Pacific Coast by U.S. anti-drug aircraft.
Noboa is asking for U.S. funding
and economic development in northern Ecuador. The U.S. must heed this request
because Ecuador's soils are suitable for cultivating coca and opium poppy and
its poor farmers in the northern region offer fertile ground for a drug- fueled
insurgency.
High oil prices and adopting
the U.S. dollar as Ecuador's national currency have stabilized the economy and
defused political tensions. Inflation is under control at last and oil will account
for about 45 percent of Ecuador's export earnings this year, compared with about
20 percent in 1999. However, the crisis in Ecuador is far from over. Right now
Noboa has some breathing room, but oil prices will fall eventually, and the risk
of renewed political unrest is high.
Ecuador produces much more oil
than it consumes and it is one the country’s leading exports.
http://www.american.edu/TED/ecuador.htm
On a much brighter side, I also
look for reasons above and beyond the money why people should invest in Ecuador.
Two favorite reasons are the low costs and wonderful people! A letter from one
of my friends, a Doctor who is moving from Canada to Ecuador exemplifies this
when he wrote:
"Dear Gary & Merri,
My wife is just back from Quito,
selecting floors, tiles, finishes etc. She reports a definite change in the mood
of the people. Things have stabilized and everybody believes the country will
turn around by mid-2001. The value of our land has appreciated 40% since we bought
it. We will take possession of our house Jan.31.
Our farm manager, lawyer &
architect treated her like a queen, even though she did a lot of hard negotiating!
She is BLOWN AWAY by the magnificence of our hacienda. From the plans we never
thought it would be so fine. It is a showplace! You should definitely introduce
your clients to our architect. He has added many little ideas of his own at no
extra cost because he truly takes pride in his work. This man is an ARTIST; a
real 'right-brainer' - somewhat disorganized but nevertheless brilliant. He usually
does 2 to 3 million $ mansions & this is the first "little" project
he's done for gringos. I think he'd like to do more. You should meet him; his
English not too good but his son translates well. Better still, take a trip (45
minutes S. of Quito) to see our place! Debra says "It's a castle!".
Our final cost for the house
- $150K - including everything - water supply & storage, sewage, garden, electricity,
gas, phone, 12ft. ceilings, rustico, 4 bedrooms, 3 bathrooms, library, wine cellar,
2-car garage, laundry, dining-room, living-room, huge kitchen, huge patio with
BBQ & pizza-oven, lovely entrance hall with internal balcony & fountain,
(separate servants' house) - & even a bell-tower straight out of Spain!! We
can't believe it!! It would cost at least 1/2 million in North America. It came
in at double his original estimate - because of the 40% inflation then. But now
inflation is way way down - we have a surplus. Such is the honesty of our lawyer
& architect. (And our farm manager - also a real estate agent - whom I've
already told you about). "
Our recent Inspired Investing
course here at Merrily Farms focused on the importance of loving what you do to
create wealth. Merri and I have a compulsion we can't quite understand to help
the indigenous people of Ecuador so we look for ways to make money there. Our
friend who is building there obviously loves the people and the country's beauty.
Ecuador's enormous diversity is one of the country's big attractions in my opinion.
There are so many reasons to be there. If you visit you'll find the process wonderful
and have an incredible chance to make good money.
We have continual Ecuador
real estate tours.
I hope to see you in Ecuador. Until then, good
investing!
Gary Scott
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