Are you ready for an early retirement in luxury?  One Tulum beachfront home, Casa Ina Tan Kanab, provides an ideal opportunity for an active retirement in a property with high-quality design, located in an environment-focused community, and close to many activities and services.

This home was created by Dallas architect George Woo, whose work includes several luxury homes in that area as well international projects.  His design is modern, clean and elegant – ideal for a relaxing retirement lifestyle.  The living room offers one-hundred and eighty degree views of the ocean, and there is an infinity pool, as well as large yard and garden areas.  There are 4 bedrooms and 4.5 bathrooms, plus an extra guest house.  At the back, there is lush, green vegetation.

Close contact with nature, and an effort to preserve it and include it in development has in many ways help define Tulum real estate.  If you want to retire in an eco-friendly community, Tulum, located on the Yucatan Peninsula, about an hour and a half from Cancun, is one of your best choices.  The village of Akumal, 20 minutes away, where this home is located, is no exception.  In addition to sand-dune preservation and sea turtle protection areas, residents enjoy close access to beautiful nature, both on the beachfront, and in the surrounding lagoons.

One of the defining points of Mexico retirement has become the excellent quality of services available; just down the road in Playa del Carmen (a 40 minute drive), there are new malls, large screen theaters, which play movies in English and world-class hospitals – a little bonus is that they cost around 50% less than comparable hospitals in the U.S.!  There are also many excellent golf courses (one PGA), and several marinas in the area.  The Cancun international airport provides direct flights to many cities within the U.S. and Canada.

Tulum itself is also on the verge of growing significantly, which will make retirement more convenient.  New upscale neighborhoods with stylish village centers are begin to sell homes and land.  A new international airport is in the bidding stage for private construction and operation rights.  But Tulum has also taken a special angle, designing an urban growth plan to promote low-density development which respects the area’s natural setting.

While conveniences grow in Tulum, both Tulum and Akumal will retain their small-town atmosphere, and continue to provide high-quality retirement lifestyle with a consideration for nature.

The growth in the area will also increase rental demand; for any retiree who buys this home and uses it only part of the year, a considerable income can be gained in this way.  The current owner has enjoyed a very successful return through his rentals.

Consider a luxury retirement on the Tulum beachfront.

This summer has been a hot one here in Mexico, and the Playa del Carmen real estate market has also some hot deals and price reductions happening in the area. I would like to review a few that I’ve come across recently.

The first property is a Playa del Carmen Condo, one of the few true Mexican hacienda style condos in downtown Playa. The seller is very motivated and has reduced the price from $175,000 to $139,000. It is very difficult to find a property under $150k this close to the 5th Ave and the beach! Click here to see the listing.

The next property is located right on the beach, inside of a private gated community. The location is excellent as its offer access to the 5th Ave for shopping and dining, yet is just far enough have peace and quiet. This 3 bedroom condo has been reduced from $469,000 to $420,000. Click here for further details.

Another eyebrow raiser here in the Playa del Carmen real estate market is also in a gated community and very close to the beach. It is a lovely remodelled 4 bedroom villa that is part of a complex that shares a common pool, palapa and tennis court. It was originally priced at $599,000 and is reduced to $425,000. Click here for more details.

One last option that is an excellent price for a property with a partial oceanview for $150,000. This is a 1 bedroom loft style condo in Playa del Carmen with 2 full bathrooms and 2 very spacious terraces. The beach access is less than 5 mins. This is priced under market value as the seller is urgent to sell. Click here for more details.

Stay tuned for other super deals in this area.

Andy Welbourne
512-879-6546
www.TOPmexicorealestate.com
THE TOP Mexico Real Estate NETWORK; “Mexico’s leading specialists for finding and purchasing Mexican properties safely !”

As a favorite for Americans who choose to live in Mexico, Playa del Carmen’s history draws attention to how quickly this area has become a top retirement destinations.  50 years ago, the only retirees in Playa del Carmen may have been a few fishermen, enjoying retirement on one of the world’s finest beaches decades before it was discovered by the outside world.  Now Playa del Carmen real estate is home to as many as 5000 retirees living in the area.  At the end of July, 2010, a key event in this progross was celebrated – 17 years from the date it gained official status as a separate municipality.

The town’s history actually goes back somewhat further; although it was an important point on a Mayan trade route from the mainland to Cozumel, after the Spanish conquest of Mexico (starting in the 1520’s), the area remained virtually uninhabited until a group of fishermen founded a village on the current site during the 1930s.  Not much more happened until the founding of Cancun in the late 60s as Mexico real estate ’s first Integrated Resort Community.

Once Cancun began to establish its reputation as a tourism site, visitors also made excursions to the ruins in Tulum and the island of Cozumel; these tourists began to take notice of Playa del Carmen (the point for the ferry crossing), its beautiful, wide beaches, and the quaint shops of Fifth Avenue, its main street.  Gaining popularity among groups like European back-backers, the town soon became one of the main attractions, instead of just a stop along the way.  By the early-mid 90s, the town had become popular enough and had grown enough to become a separate municipality (previously it was the mainland section of the municipality of Cozumel).

While some retirees (or soon-to-be retirees) were already taking notice of Playa del Carmen at that time, since then, Playa del Carmen has grown significantly, not only in size, but also in the services and property options it offers.

Some of the conveniences Playa del Carmen has grown to offer in the past 17 years include:

• international stores such as Walmart, Sam’s and numerous similar choices
• 2 modern shopping malls
• English movies
• 8 golf courses (2 PGA)
• 4 full service marinas
• modern hospitals – similar quality to good, private U.S. hospitals, but lower prices
• a large number of well priced direct flight options (Cancun International Airport)
• the “New Fifth Avenue” or Little Italy, with its distinct European flavor

Playa del Carmen real estate has also greatly expanded its variety, now including;

• excellent condo and home options
• gated golf course developments
• marina condos
• full service retirement communities (with condo-hotel services, including transportation)
• a variety of locations, ranging from neighborhoods next to downtown to beachfront developments, to new gated communities close to shopping, golf and many activities

Playa del Carmen has grown in many ways since 1993, and even more so since 1930.  For you as a retiree, these new services and options are good news.  Consider enjoying retirement in Mexico here.

Thomas Lloyd graduated from Purdue University Krannert School of Management with a degree in Management/Financial Option Investments. He has been living, investing, and working professionally in Mexico for over 15 years. In the summer of 2009, he received the first federally applied Mexico Real Estate Degree and Mexico Professional Real Estate License S.E.P. #5978657. He is the current president of TOPmexicorealestate, you can contact him at (512) 879-6546 or through the company’s web site www.TOPmexicorealestate.com NETWORK

“Mexico’s Leading Network of Specialists for Finding and Purchasing Mexican Properties Safely!”

The law has not changed in the Puerto Vallarta Real Estate zone, but the interpretation and enforcement have.  It is very important to remember that the intent of the exemption granted for Capital Gain tax on the sale of a primary residence is supposed to be just that; YOUR PRIMARY RESIDENCE!  That means you can’t have your primary residence in the US and exempt your capital gain tax there and do the same here in the Mexico real estate region.  The SAT (Servicio de Administracion Tributaria), also known as “Hacienda”, is the federal tax collector in the Puerto Vallarta real estate region.   They collect all federal taxes such as the ISR (Income or Capital Gains) tax, the IVA (Added Value) tax and the IDE (Tax on Cash Deposits).

Recently, the director of Hacienda has issued a memorandum stating:

“The foreigner who does not have a valid immigrant status before the proper Mexican authority is assumed to NOT be a resident of the country and is subject to the capital gain tax.”  A valid immigrant status is considered an FM-2.  So tourist visas and FM-3’s are no longer acceptable as valid immigrant status for the purpose of proving your residence.  So if you DO NOT have an FM-2 visa, the sale of your property is considered VACATION OR SECOND HOME OR A RENTAL PROPERTY and no exemptions are permitted.       The tax on non-exempted transactions is 30% of the difference between the value declared in the deed (in pesos) and the value of the new sale, less allowable deductions or 20% of the entire amount of the transaction, whichever is less.   Therefore, when you buy your property in Puerto Vallarta, you must insist upon having the full amount of the sale declared in the deed, in order to avoid overpaying taxes upon sale.  It is also vitally important to ask for a “factura” (official tax receipt) when doing any capital improvement on your property.  In the event you have not done this, it is possible to have your property re-appraised by an authorized appraiser and this increased amount can be credited towards your tax basis.

So if you do not have an FM-2, be prepared to get one prior to the sale of your property, or be prepared to pay your Capital Gains Tax here in Mexico.  Now some good news:  There is no “double-taxation” on the sale of your property here.  So if you pay your Capital Gain tax here in Mexico, you will not be subject to another tax in the US and you can re-patriot the funds legally.  Please remember that your friends who may have avoided the Cap Gain tax here previously are STILL subject to audit here in Mexico (for up to five years) and Cap Gain Tax in the U.S.!  So nobody gets off for free, legally.  The tax authorities in the U.S., Canada and Mexico work together and share information. Everyday there is more cooperation between the countries due to tax treaties. It is no longer possible to own a property in one country, enjoy income from that property, and not report it in BOTH the country where the property is located, and the country where the owner lives.  Failure to comply means the owner is subject to double taxation and heavy penalties when the omission to file and declare is discovered.  So if you are considering selling your property here in PV, you should consult with a tax expert here and also your accountant in the US in order to determine the best way to file your taxes.  Here is something else to ponder; paying Capital Gains tax implies you have made a gain on the sale of your property.  Congratulations!  Would you rather have lost money, so you would not have to pay tax?

Do you have a question about the Puerto Vallarta Real Estate market? Just ask!
Michael Green moved to Puerto Vallarta to take advantage of the unsurpassed lifestyle PV offers. Today, with over 12 years of experience, Mr. Green is one of the most recognized brokers in Vallarta. TOP Mexico Real Estate “Mexico’s Leading Network of Specialists for Finding and Purchasing Mexican Properties Safely!”

Absolutely!  Not everyone can afford to pay cash for Puerto Vallarta real estate. Fortunately for the rest of us, financing here is readily available. With the turmoil currently being experienced in the US Real Estate market, this is great news for us!  Although rates and fees are slightly higher than in the US, you can now take out a loan against your real estate in Puerto Vallarta, rather than tie up valuable home equity in the US.

Mortgage financing for Mexico real estate extends the possibility of a second home in paradise to many who could not otherwise afford it.  There have been some major changes to the global economy, and we have definitely felt the effects in Puerto Vallarta. Although there has been some tightening in the lending industry in Mexico, there are still many options available, both in pesos or dollars.  I have been told from many realtor friends that they noticed an impressive increase in the amount of buyers who ask if financing is available.

Savvy investors understand the benefits of leverage (using the “other guy’s” money instead of their own) which decreases the necessary cash investment and increases the yield on their invested cash. Here are some basic guidelines to consider when applying of a Mexico mortgage on your property in Puerto Vallarta.   Who can apply for loans? Currently, there are programs for Canadians, US Citizens, Mexican Nationals and foreigners who earn income in Mexico.  What types of loans are available? There are purchase, permanent loans for pre-sale condos at time of transfer of title, cash-out refinance, lot loans (in gated communities only) and construction loans for single family residences.  There are also ARMS, Balloons and fixed rates available.  What is the amortization period?  Up to 30 years.  What are the current interest rates? 7.5% – 9.5%   How much is the minimum down payment required? 20% – 35% depending on borrow qualification.  What are the loan terms? 15-30 years.  What are the qualifications? The borrower must be in the same line of work for a minimum of 2 years and provide 2 years of tax returns, the last 2 years W-2’s and last 2 months pay stubs and bank statements. The borrower must not have foreclosures or bankruptcies in the past 5 years. What is the minimum FICO credit score? 650 or above.  What is the maximum debt-to-income (DTI)? The borrower cannot spend more than 40% of their monthly income on mortgages, credit cards, car payments + the proposed mortgage.

What is the average closing time?  60-90 days. There is NO FEE for pre-qualification unless a credit report is pulled with your permission. There are several well-established loan brokers in the Puerto Vallarta real estate market, ask your local TOP Mexico realtor to recommend someone.

Thanks to Terrence Reilly of Mexlend for help with this question.

Do you have a question about the Puerto Vallarta Real Estate market? Just ask!

Michael Green moved to Puerto Vallarta to take advantage of the unsurpassed lifestyle PV offers. Today, with over 12 years of experience, Mr. Green is one of the most recognized brokers in Vallarta. TOP Mexico Real Estate “Mexico’s Leading Network of Specialists for Finding and Purchasing Mexican Properties Safely!”

In a previous blog, TOP Mexico real estate interviews with John De Rotache from the Cancun Real estate territory asking him about his background and the trends in his region.  You can see part one of this interview by clicking here, Mexico real estate blog.   Below please find the remaining questions and answers to this conversation;

4)                  What are the normal steps to purchase real estate in Cancun?

The normal steps to find a great residence in Cancun is to ask yourself your greatest interest whether a location close to your children’s school in an upcoming neighborhood.  Or an oceanfront/lagoon front location close to the downtown area to have the best of both worlds.  Or finding a great rental property that you can use as a winter getaway plus a great additional income.

5)                  Is there financing available in Cancun?

Yes, financing is available for foreigners in Cancun with Banks such as Scotia Inverlat, Bancomer,  HSBC.  Plus mortgage companies with representation in the Riviera Maya that work with North American and European lenders authorized to provide loans to various nationalities.  Short term owner financing has become more prevalent depending on the seller as many of these will work with buyers to make it easier for the buyer to purchase while he may have to sell another property of his own to complete the payment here in Mexico.

6)                  Where are most Americans and Canadians purchasing in Cancun?

Previously most Americans and Canadians were primarily purchasing in the tourists zones. Although now many North Americans enjoy getting more involved with the local culture and atmosphere as well as finding a great location at a much more economical price with only a short distance to the beach when desired.  Every year more and more foreigners are finding it easier to acquire property in Mexico and to enjoy the great benefits of a more tranquil lifestyle.

7)                  Why would I work with you versus another real estate agent in Cancun?

The main reason for wanting to work with me as your Real Estate Agent is knowledge and experience of the area combined with integrity and going the extra mile to make sure you find your Dream home or investment.  My commitment to personal service and the ability to answer not just your Real Estate questions but unique questions only someone who has had the opportunity to live here for an extended period of time and understand the concerns and uncertainties of a first time buyer has in a foreign country.

John DeRotache, originally from Saint Louis MO., he has been living in Cancun, Mexico for over 16 years. John completed his University studies at St. Louis University in Missouri and their Campus in Madrid, Spain. With a diploma in real estate from a top Mexico University, John comes well prepared to find and help you with your Mexico real estate needs. MexicoRealEstate NETWORK “Mexico’s Leading Network of Specialists for Finding and Purchasing Mexican Properties Safely ! ” (512) 879-6546

John DeRotacheAder, originally from Saint Louis MO., he has been living in Cancun, Mexico for over 16 years. John completed his University studies at St. Louis University in Missouri and their Campus in Madrid, Spain.  With a diploma in real estate from a top Mexico University, John comes well prepared to find and help you with your Mexico real estate needs.   MexicoRealEstate NETWORK “Mexico’s Leading Network of Specialists for Finding and Purchasing Mexican Properties Safely ! ” (512) 879-6546

No way Jose!  No matter if you are buying a Puerto Vallarta beachfront condo, a home in Mexico, or whatever type of property.  Don’t leave money with the seller.  We have an old saying in our Puerto Vallarta real estate office, it is:  “Don’t leave your brains at the border!” Now Joe, if you were going to buy a home in the steel city, would you give the owner cash before closing?  Of course you wouldn’t.  (Or at least I hope you wouldn’t.)

In the event your Mexico real estate transaction does not close, it would be difficult, expensive and time consuming to recover your deposit.  For that reason, the standard practice here is to draft a formal contract of sale, which both buyer and seller will sign.  This contract should state the agreed price and terms of the sale and stipulate that any deposits shall be made to a neutral third party escrow account established specifically for the transaction.  There should also be provisions to return your deposit if the transaction does not close, as well as agreed upon penalties in the event one of the parties fails to comply with the terms of the contract.  There are several established financial institutions that are able to handle escrow accounts here, First American Title, Stewart Title and Monex are some of the most common.  Typically the buyer is responsible for the cost of the escrow (approximately $500 USD per transaction) but this is a small price to pay for the peace of mind that your money is in a safe place.  These fiduciary institutions have the legal responsibility to guard your deposit and not release it unless both you and the seller agree in writing.  In the event of a dispute, a judge would rule on final disbursement.

For new Puerto Vallarta beachfront condos in pre-construction phases, it is common to give the developer a deposit with the sales contract and make progress payments as the building is being constructed.  For this reason, you want to make sure that the necessary plans and permits are in place and the developer has a sound business plan and proven track record.  You should also ask for a completion bond in order to guarantee your deposit, or insist that your deposits remain in an escrow account, only to be released upon certain pre-established stages of completion. Please note that Spanish is the binding language in the sales contract,  (, (with English translation often provided as a courtesy) so I strongly encourage you to enlist the expertise of a local TOP Mexico realtor.  Joe, I hope you can see that the days of unprotected real estate investments in Puerto Vallarta are long gone, so “Don’t leave your brains at the border!”

Do you have a question about the Puerto Vallarta Real Estate market? Just ask!
Michael Green moved to Puerto Vallarta to take advantage of the unsurpassed lifestyle PV offers. Today, with over 12 years of experience, Mr. Green is one of the most recognized brokers in Vallarta. TOP Mexico Real Estate “Mexico’s Leading Network of Specialists for Finding and Purchasing Mexican Properties Safely!”

AMPI is the Mexican Association of Real Estate Professionals.  Dedicated to raising professional standards and protecting private property rights, this organization was formed over 50 years ago and currently has a membership of over 1,000 companies and 10,000 professionals.  In the Puerto Vallarta real estate region, there are three AMPI chapters, AMPI Vallarta, AMPI Riviera Nayarit and AMPI Compostela.  Currently there are no licensing requirements in place on a national level in order to regulate Mexico real estate brokerage and sales.  AMPI however, does have significant requirements in order to be a member broker.

Among them are:  one year experience working in real estate in the area, have a diploma from a certified AMPI course (100 hour minimum), show two commercial and one bank reference, proof of legal registration with the city and tax authority, two letters of recommendation by current members, take an AMPI test and orientation and be voted in by peers.  Additionally, foreigners are required to submit a diploma from a Spanish language course and immigration authorization in order to legally work in the country.  Associates are required to have valid work permit, a letter of reference from their broker, take a written AMPI exam and attend 40 hours of continuing education per year.  AMPI also requires members to follow a strict code of ethics that include articles such as:  “Knowledge of tax, legislation, improved use of land, planning and other real estate-related matters.”  “Keep abreast of conditions in the Puerto Vallarta real estate market, because it is he or she who guides customers regarding the correct value of real estate, among other things.”  “Protect customers against fraud, abuse or immoral practices in the field of real estate.”  “Help prevent any acts that could harm the public, as well as any that could undermine the dignity of the real estate profession.”

AMPI also has an honors and justice committee set up in order to penalize members who breach the code of ethics.  Sanctions can include monetary penalties, temporary or permanent expulsion from the association.  AMPI members also have access to the local multiple listing service (MLS).  This modern and sophisticated searchable database currently has over 1,000 properties listed for sale.  Members receive a monthly printed catalog.

In acknowledgment for the above the National Association of Realtors (NAR) has signed its first joint reciprocal membership agreement with a foreign real estate organization (AMPI).  Therefore, all AMPI members also belong to NAR, as well as the Canadian Real Estate Association (CREA), and the International Real Estate Association (FIABCI).  So be thankful that your Real Estate Agent is in AMPI and good luck in your search.

Do you have a question about Real Estate in Puerto Vallarta?  Just ask!

Do you have a question about the Puerto Vallarta Real Estate market? Just ask!
Michael Green moved to Puerto Vallarta to take advantage of the unsurpassed lifestyle PV offers. Today, with over 12 years of experience, Mr. Green is one of the most recognized brokers in Vallarta. TOP Mexico Real Estate “Mexico’s Leading Network of Specialists for Finding and Purchasing Mexican Properties Safely!”

A Mexico mortgage has not been a common tool used by real estate investors nor by residential buyers in the past here in the Mexican market.  It was not until President Fox’s administration during 2002 – 2006 were new laws and regulations introduced to help financial institutions offer home loans to millions of Mexican families.  In 2005 loans for non-Mexicans purchasing property in Mexico also became available.  Americans and Canadians investing or purchasing second and retirement homes, and other real estate in Mexico now had alternative financial resources.

This morning, Mr. Jose Pascual Director of International Markets for Compass bank invited TOP Mexico Real Estate to  review projections of the markets for 2010 and 2011.  The focus of the discussion was the American economy for the next several years and how this affects the non-Mexicans searching for investments in the Mexico real estate market.  The recovery in the United States has already begun.  It is estimated that such recovery will not be fast, but it will be a solid recovery given that the market is extremely diverse and adaptable.  Interesting figures to review are the projected growths for 2010 in various markets.

Asia                         5.8%
Latin America     4.6%
USA                         3.0%
Europe                   0.7%

The positive note of a slow and solid recovery is that inflation will have less upward pressure.  In regards to the Mexico mortgages, keeping a steady inflation rate should also help keep loan interests at lower figures making this option… quite interesting.

Now due to the financial crisis that hit the American market,  many people lost a great amount of household wealth.  17.4 trillion dollars of net worth were lost within the years of the crisis and left the consumption curve at a sharp decrease.  So do the next few years look bleak for Mexico Real Estate?   No.   There are actually some extremely good investment opportunities in the Mexican market.  Many Americans are re-adjusting their investment portfolios and are moving capital south into new developing regions which now include Mexico amongst their top choices whereas five and ten years ago, their options were limited to places such as Florida, Arizona and other American national territories. (see the projected growth in Latin America at a robust 4.6%)   There has been a decrease in liquidity.  And the message that Mr. Pascual shared,  “With our financing programs for the Americans and other Non-Mexicans , we can be the financial Gap to reach the newly budding real estate opportunities in Mexico.”

If you want to learn more of Mexico real estate and options on how to finance such a purchase…. call or write to me.

Thomas Lloyd graduated from Purdue University Krannert School of Management with a degree in Management/Financial Option Investments. He has been living, investing, and working professionally in Mexico for over 15 years. In the summer of 2009, he received the first federally applied Mexico Real Estate Degree and Mexico Professional Real Estate License S.E.P. #5978657. He is the current president of TOPmexicorealestate, you can contact him at (512) 879-6546 or through the company’s web site www.TOPmexicorealestate.com NETWORK

“Mexico’s Leading Network of Specialists for Finding and Purchasing Mexican Properties Safely!”

This is a follow up on the Mexico real estate blog that I wrote last summer regarding  a cool 14 units complex near Mamitas beach written about Playa del Carmen condos (click here).  I paid a visit recently as the developer had mentioned that the showroom was about to be opened to the public. This developer has been building in Playa for many years and has many great projects already accomplished.

The location is excellent and these 14 units will share an amazing common rooftop area with an infinity pool and deck, that overlooks the most popular beach zone in all of the Riviera Maya, Mamitas beach. These Playa del Carmen condos have ocean views that are panoramic and to Cozumel as well. It is only 1 block away from both Mamitas beach club and Kool, as well just another block away from the 5th Ave for shopping and dining.

There are 3 different model types of 1,2 and 3 bedrooms ranging from 767 sq.ft up to 1900 sq.ft in 4 levels. The elevator goes right up to the common area and there is underground parking. Top quality features throughout as you can see in the photos I took of the model and construction progress.

There are currenlty 5 units sold and completion is expected early September of this year.

Look at this view from the rooftop!

Check out more information and new photos of the complex and model unit here Playa del Carmen listings

Andy Welbourne
512-879-6546
www.TOPmexicorealestate.com
THE TOP Mexico Real Estate NETWORK; “Mexico’s leading specialists for finding and purchasing Mexican properties safely !”

This months issue of VENTANA Magazine published an article on this topic written by … yours truly.  Many people think that there are very little regulations or that there are no Mexico real estate licenses available to realtors in order to help ensure safer transactions when investing in the Playa del Carmen real estate market.  But only recently, in the fall of 2009,  a new Professional Identification Number and Mexico real estate degree have been offered to the people practicing in these activities if successful in the qualification process.

(  Thomas Lloyd in Mexico City receiving the first Mexico Real Estate Degree  )

This is not a simple exam that is taken over the internet, but it is quite a complex process which resulted in only a handful of people in all of Mexico receiving such a degree.   The exam has over 180 detailed questions and was applied nationally in nearly 14 different cities.  Read more here Mexico Real Estate license .

“The degree was introduced to the industry in response to the consumers demand for a higher professionalism” states the Mexican Association of Real Estate Professionals.  The professional identification number and “cedula profesional” are issued at a national level, and are only granted to university degree holders.

The good news is that progress in Mexico is moving forward and  the real estate industry is keeping pace with new requirements and benchmarks.

Thomas Lloyd graduated from Purdue University Krannert School of Management with a degree in Management/Financial Option Investments. He has been living, investing, and working professionally in Mexico for over 15 years. In the summer of 2009, he received the first federally applied Mexico Real Estate Degree and Mexico Professional Real Estate License S.E.P. #5978657. He is the current president of TOPmexicorealestate, you can contact him at (512) 879-6546 or through the company’s web site www.TOPmexicorealestate.com NETWORK

“Mexico’s Leading Network of Specialists for Finding and Purchasing Mexican Properties Safely!”

Owning a Puerto Vallarta Beachfront condo, with the amazing views, and the cool ocean breezes is a very fun way for keeping cool on hot blistering summer days.  Another way to keep your temperature down is to lock all the doors and windows, crank up your air conditioner and chill-out in a catatonic bliss as you dream of being in a Puerto Vallarta beachfront condo.   And let’s face it; on the hottest, most humid afternoons in the “dog days” of August, this can seem like a pretty good idea!  However, this solution is not very frugal or eco-friendly, so here are some other tactics that have worked well for me:

Get the air moving. Even a slight movement of 1 mph can make you feel a few degrees cooler.  Ceiling fans are the best; make sure the blades are pointed so the air is directed downward.  Portable fans are great in spaces where ceiling fans will not work.  Either option allows you to raise the thermostat on the A/C and still remain comfortable.

1. Install shades, drapes and blinds. The best way to keep your home cool is to keep the heat out!  There are some excellent blinds out now that cut out the UVA rays, allow for privacy and still let in the view.  Choose lighter colors that reflect the sun’s rays.
2. Keep down the internal heat. The largest indoor heat generators are the stove/oven and incandescent lighting.  Try to cook outdoors on the hottest days and use your range fan to exhaust heat outside the home.  Replace incandescent bulbs with fluorescents wherever possible.  These produce one/fifth the amount of energy and hear for the same amount of light.
3. Plant trees and shrubs. Just several strategically placed shade trees can significantly reduce your energy bill.  Tree shaded neighborhoods are typically 3-6 degrees cooler here.  Avoid landscaping with unshaded rock or cement especially on the south and west sides of the home as this increases temperatures around the house and radiates heat after the sun has set.
4. Dress the part. Avoid wearing clothing made from synthetic materials.  Light colored clothing in natural fabrics such as cotton and linen not only feels cool, it looks cool too.  A nice sprinkling of talcum powder before dressing will keep you feeling cool.  And if this fails, have a couple of gel packs or moist washcloths handy in the fridge.  These feel great behind your neck on hot day.
5. Take advantage of cool places. Do your shopping, take in a movie, or enjoy a meal in an air conditioned restaurant during the hottest part of the day.

When all else fails and you need to use the air conditioner, make sure that the filters have been changed, nothing is blocking the air intakes and the system is fully charged.  Also make sure your Puerto Vallarta home is sealed tightly, there is no point in air conditioning the outside.  And when you are sweaty and grumpy, don’t forget to drink lots of water and think cool thoughts.  October will be here soon enough and you will be here enjoying perfect weather while your friends back home are facing six months of rain, sleet, snow and darkness!

Do you have a question about the Puerto Vallarta Real Estate market? Just ask!
Michael Green moved to Puerto Vallarta to take advantage of the unsurpassed lifestyle PV offers. Today, with over 12 years of experience, Mr. Green is one of the most recognized brokers in Vallarta. TOP Mexico Real Estate “Mexico’s Leading Network of Specialists for Finding and Purchasing Mexican Properties Safely!”

Dear Mike,

I want to take what is left of my 401(k), come down and buy a place off the beaten track and live like a local in the beautiful Puerto Vallarta real estate area.

My kids say I should rent a place first, then find a TOP Mexico Realtors, make an extensive search, check out ALL the Mexico real estate listings in the MLS and learn more about the local culture and customs. They also want me to investigate banks, supermarkets, health care and immigration requirements.  And if I find something I like, they want me to ask to see title to the property, consider having an inspection and survey and confirm that there are no liens or encumbrances against the Puerto Vallarta property.  Finally, they are INSISTING that I do not give any money to a seller before the closing, that I only put my deposit in a U.S. Escrow account and formalize any Real Estate documents in front of a Mexico Notary Public!  What advice can you give me in order to stop the nagging, get these know-it-alls off my back and live out my golden years in peace?  Free Spirit, Pasadena

Dear Free,

Kids can be so demanding these days! It is particularly frustrating when you have worked hard all your life to raise them and save enough for a Mexico retirement.  Hey, it is your money and those party poopers’ should just mind their own business.  However, a Real Estate purchase is a big undertaking, especially in a foreign country.  So here is what you should do:  Consider renting a place first, then find a TOP Mexico Realtor, make an extensive search, check out ALL the listings in the local MLS and learn more about the local culture and customs. Then, investigate banks, supermarkets, health care and immigration requirements.  If you find something you like, ask to see title to the property, consider having an inspection and survey and confirm that there are no liens or encumbrances against the property. Finally, do not give any money to a seller before the closing, and put your deposit in a U.S. Escrow account and formalize any Mexico Real Estate documents in front of a Notario Publico!

Do you have a question about the Puerto Vallarta Real Estate market? Just ask!
Michael Green moved to Puerto Vallarta to take advantage of the unsurpassed lifestyle PV offers. Today, with over 12 years of experience, Mr. Green is one of the most recognized brokers in Vallarta. TOP Mexico Real Estate “Mexico’s Leading Network of Specialists for Finding and Purchasing Mexican Properties Safely!”

Before starting my career in the Costa Maya real estate industry, my first trip to Mahahual was with my husband, and the sole purpose was to go scuba diving in Chinchorro Banks, a pristine coral atoll located 28 miles or 45 kms off the coast. Both being diving instructors and working in Cozumel at the time, we had heard so much about this magical place and were looking forward to going.

Unfortunately during our 3 day stay we couldn’t go out to Chinchorro due to the weather conditions. It wasn’t particulary rough, however in order to go to Banco Chinchorro the conditions must be perfect and a minimum amount of divers are required. Added to these factors there is a very limited amount of boats having the permit to go to Chinchorro (it’s a national park), hence making it harder to get all three factors in line during such a short stay. This certainly raised the mystery of Chinchorro and we were successful in diving there on our second visit a couple of months later.

However, on that first visit, we thoroughly enjoyed our local dives and were surprised to learn that the barrier reef took only 5 minutes to reach by boat. There are fingers of corals that extend out from the coast and between each finger are canyons that measure between a metre or 10 metres wide. It was such a strange experience diving with a wall of coral on each side of you with the deep blue straight ahead. Marine life was abundant and, although there was a lack of the schools of larger fish that we were accustomed to in Cozumel, the corals were so healthy it certainly made up for it. Huge barrel sponges and soft corals, moving slowly with the gentle current, reminded me of the palm trees lining the quiet beaches in Costa Maya. We were fortunate to see lots of large marine life, such as turtles, stingrays and a couple of eagle rays.

Unfortunately at the moment there is a phenomena, which is hitting the corals reefs hard; the lion fish or, in Spanish, “pez leon”. This beautiful looking fish with it’s fins extended, resembling a male peacock, is actually slowly destroying the Caribbean reef by eating it. As it’s home was originally the Pacific, it has no natural predator in the Caribbean (it has venomous fins) and the Costa Maya dive centres have decided to act now and destroy this pesky fish in order to protect our underwater haven. A beach barbeque fund-raising event was held recently, hosted by Dreamtime Dive Centre and attended by all the other dive centre owners in Mahahual, La Tortuga Azul, Blue Ocean Safari, La Zona de Buceo, MexDive and XTC. This is an example of how the community spirit and what it is like to live in Costa Maya, everyone takes part!

The event was open to the public and many people from different walks of life attended. A demonstration was given of how to filet the lion-fish and, after having been soaked in garlic butter sauce, was grilled and proved to be a great hit. The fact that it’s tasty and an aphrodisiac means that local restaurants are now considering offering lion fish on their menus, a great way to encourage local fisherman to catch them and provide food at the same time!

Recently an American man, Tal Bixby, who visits Mexico to dive about 4 times a year, has invented a great harpoon to catch these fish. Hopefully this, along with special reinforced nets, that can be carried by dive masters while leading dive groups, will ensure that the lion fish don’t ruin our reef and leave it as beautiful and abundant as the first time that I dove here.

Rebecca Loto is from the United Kingdom and has been traveling and living in Latin America for nearly ten years. Costa Maya has become her home residence in the past 5 years where she and her husband have settled and have become involved and active in various community organizations. Rebecca brings British business ethics and Mexico business experience together to give buyers unparalleled service. 512-879-6546

THE www.TOPmexicorealestate.com NETWORK

“Mexico’s Leading Network of Specialists for Finding and Purchasing Mexican Properties Safely!”

Ejido land is communal land that was passed down to peasant communities after the Mexican Revolution.  It is typically agricultural type land and is akin to Indian Reservation land in the United States.  In the Mexico real estate region, Ejido properties are off limits to the foreign community, despite the fact that many have “purchased the rights to use” these properties through what is called a “prestanombre” (literally translated, lent name).

This practice is illegal and leaves huge risk to the foreign buyer as they are putting the name of the property into someone elses name.  It is possible to “Regularize” ejido property and convert it into a fully titled property.  This allows anyone, including foreigners, to ultimately own the Mexico property, but the process requires the agreement of the entire community that owns it.  This process can be costly, time consuming (five years is not uncommon) and is not guaranteed.  If you are not scared off by the above, find yourself a firm that specializes in the regulation of these properties and seek independent legal counsel as well.

Do you have a question about the Puerto Vallarta Real Estate market? Just ask!
Michael Green moved to Puerto Vallarta to take advantage of the unsurpassed lifestyle PV offers. Today, with over 12 years of experience, Mr. Green is one of the most recognized brokers in Vallarta. TOP Mexico Real Estate “Mexico’s Leading Network of Specialists for Finding and Purchasing Mexican Properties Safely!”

We have seen a strong increase in sales in the Puerto Vallarta real estate market in the past several months.  The malaise of last year’s “swine flu” debacle is now just a bad memory as the market returns to a state of normalcy.  One well respected and experienced Puerto Vallarta real estate agent has reported twice as many sales already this year than he had all of last year combined.

It is still readily apparent that buyers have the upper hand in negotiations; however, many sellers have undertaken major price reductions or other incentives and have been successful in selling their properties.  But buyer beware:  another top agent reports, “I have already had two multiple offer situations this year, where a buyer hesitated in his offer and was beat out by another buyer.  Both buyers are still waiting on the sidelines and talking about the ´deal that got away´.”  One strong driving force in the market is the appearance of the Canadian buyer. With the Canadian dollar at even par with the US dollar, and many prices here reduced 20-25%, these savvy investors are reaping the rewards and appearing in record levels.  Another long time Broker here reports that Canadians are now making up almost half of his buyers here in the real estate market of Puerto Vallarta, up from approximately 10% just two years ago.  Another new paradigm of this market is that the “flippers are dead”. Today’s buyer is taking a much longer term approach to investing in Puerto Vallarta Real estate and is doing more research, asking more questions and is more patient than in previous years.  Besides the obvious factor of price, this buyer is keenly aware of cost of ownership, quality of construction and the location and amenities of the property.  Many of these new buyers are taking advantage of readily available mortgage financing on their property here in PV.  One very busy Mexico mortgage broker reports:  “interest rates for US Dollar mortgage loans (available to both Canadians and US citizens) are at historic lows.  We can go as low as 6% on interest rates, and typical rates for 30 year loans with 25% down are from 6.75 to 8.25  Obviously NOW is a good time to buy before rates start to head back up.”  So where are we headed?  One of our most experienced and knowledgeable brokers summarizes:  “I think our biggest challenge going forward will be to provide the market with quality and credible information that will allow both sellers and buyers with the tools in order to make informed decisions. I think that this has in large part been the reason why our actual sales activity has been lagging so much over the past 6 to 12 months. Sellers don’t understand what the value of their property is today and buyers keep seeing prices drop and are reluctant to step up until they see a sustainable base of value. Only after we have a sufficient number of transactions to support these new price levels will we be able to see the transparency in this market which will lead to the return to a more normal level of activity. How long will this process take? I think we are now starting to see the beginnings of this base being formed now and so over the next 6 to 9 months I think we will be back on track – a new track to be sure, but with a much higher level of sales velocity.”  So there you have it, the Puerto Vallarta Real Estate report for winter 2010:  Much better than 2009, but still a ways off the record levels of 2006-2007 and some challenges ahead for the remainder of the year.  We’ll check in again this fall to see how accurate we were.

Do you have a question about the Puerto Vallarta Real Estate market? Just ask!
Michael Green moved to Puerto Vallarta to take advantage of the unsurpassed lifestyle PV offers. Today, with over 12 years of experience, Mr. Green is one of the most recognized brokers in Vallarta. TOP Mexico Real Estate “Mexico’s Leading Network of Specialists for Finding and Purchasing Mexican Properties Safely!”

When buying real estate in Mexico you can focus all your time on the purchasing process and sometimes forget that you are moving to a different country and will need a visa.

For most of us coming and living in Mexico for a few weeks doesn’t cause any problems and you can get in with an FMT or as of May 1^st 2010 an FMM. This is the visa every tourist gets when entering the country.  Its one of those documents you get handed on the plane to fill in. This entitles you to stay for no more than 180days. In some case you can apply to extend this when you get close to the end.

When you want to stay in Mexico for longer periods of time and when buying property in Mexico you should apply for the non-immigrant FM3. This allows you to stay in the country for up to a year, close to the end of that year you should go back to your immigration office and apply to renew for another year.  This can be done for 5 years and once you have been on your FM3 for 5 years you can then change and apply for the FM2.

You can either come to Mexico on your FMT/FMM, go to the local immigration office of where you want to live and buy a property and apply there
or
If you don’t have time in Mexico you can go to your local Mexican consulate at home and apply there

I my self have applied for many different visas in Mexico and I now hold a FM2. So I will be talking about applying for a visa while in Mexico.

You have two options you can do it your self or get a lawyer to do it for you.

The Lawyer route:

This option is good for those:

• Who aren’t able to speak Spanish (or enough to get you through, I’ve seen many Americans and Canadians who can’t speak any Spanish going to immigration on their own, you may be lucky and get one of the officers who speak English but this will depend on where you are), or can’t go with some who does.
• Doesn’t have the time to sit and wait in the immigration office. (The last time I was there, I had to wait almost 3hours before it was my turn at the desk.. The offices usually open at 9/9:30am so get there before then so you are sure to be first or not have a long waiting time)
• Who don’t think they pass the requirements for the visa you are applying for.
• Who haven’t done this before and would like help.

One of the main problems I found with using a Lawyer is that in some cases they can charge you a large amount of money for something that really can just take you a few hours.

First you should go to your local immigration office and ask for the requirement check sheet for the visa you would like to apply for (more than likely it will be in Spanish but again depends on where you are). With this you can take your time and gather up all the documents you need.

I must point out that each Mexican States immigration office has different, processing times and requirements. Maybe not by much but its much better to have the check sheet for the office you are applying in. This will save you some painful hours waiting to be told you are missing something or you don’t need that document. Also they update the process often so you should make sure you have an up to date check sheet and application form.

For example I used to live in Manzanillo in the state of Colima on the pacific coast, there they don’t see many people wanting to apply for FM3 or FM2 but dealt mostly with ship captains. What I found here was that the application for an FM3/2 could take a while or be done in a day all depending on what mood the officers were in, but getting information was difficult as there was only three windows and you had to queue with everyone else just to ask a question.

I now live in Playa del Carmen and found that the immigration office is more geared towards foreigners coming to apply for visas. Here they have an information desk where you can get all your check sheets, application forms and any help with what you are looking for.

The officer here will after speaking with you decide if you need to go to one of the processing desks. This saves a lot of time and I wish that was available in Manzanillo when I was applying for my Married visa.

Next door to the Playa Immigration office is a small “shop” offering services like photocopying, letter writing, translations, photos etc. This is very useful as when I applied for my FM2 visa I needed three letters, one to say that I am married to my wife, one to say my wife is married to me and one to say what visa I am looking to get, for $100pesos each the gentleman working here typed these letters for me within 10mins and I was ready to go. I know that is a lot for 3 pieces of paper, but its all done in Spanish and covers exactly what you need. You could try searching for a template for each letter you need to save money.

You can also ask here for help on what documents you need, as he must see thousands of confused tourists come and go and knows exactly what you need to get your visa. Just make sure you use one of his services when asking him loads of questions, its only fair.

When you to buy a property in Mexico your best option for a visa is a FM3 rentista. This version of the FM3 is for everyone who wants to come and go to Mexico. Best when you want a holiday Mexico home and only want to be here for a few months at a time. To get a visa like this you have to prove that you either have a monthly income of $1000USD or have $12,000USD in a bank account. This is to prove that you can come to the country and don’t have to worry about money or turn to working. You can stay for one week or for the whole year if you want but you can’t work.

At the moment you will get a passport size book. A green one for the FM3 and a grey one for the FM2, but as of May 1^st 2010 these will change to ID cards. This is going to be a lot better as you are meant to carry your visa with you everywhere and keep a copy at home.  So with a card you can just put it in your wallet or purse and not worry about it.

To sum this up, If you have the time and patience, first get the check sheet for what you need spend a few days gathering your documents together and take a book and a bottle of water and go to apply for your visa. You will also find that you will have to go back a couple of times. I went in to apply for my visa, then to go back 3 weeks later to make sure it was all ok, sign a few forms, get my finger prints done and hand over some pictures (You will be told what size and type of photos you need) then wait another 10 days until going back for the third time with the payment and collect you visa.

-Robert Young

After the success of a small community of homes in Chemuyil, located just south of Akumal and 30 mins south of Playa del Carmen, we now are reviewing some very cheap Mexico homes options near the small town of Puerto Morelos. The town is very small and not as much of a tourist destination as Playa del Carmen, yet it has many wonderful things that attract the people that love visiting it inlcuding….cheap Mexico real estate.   Just to mention a few, the easy access to the Cancun International Airport, which is about 15 mins away. The quaint area with the town square with neat little cafes and restaurants. You won’t find a Starbucks here! And of course one of the main attractions, the gorgeous Caribbean beaches, which in this area can still be fairly rustic, yet very wide and sandy with gorgeous blue turquiose waters for long stretches. Diving and snorkelling are also a big attraction as Puerto Morelos is part of national park that contains the long extensive Grand Mayan Reef. As you can see in the photo below, the town has recently constructed new malecon pathways on many of the streets that access directly on to the public beaches

This Cheap Mexico real estate community, which is about 5-10 mins drive into town, is a fair size and will contain about 1000 or so homes once completed.  The homes are very simple and are delivered basic, with not many ’extras’. They all come with 2 bedrooms and 1 bathroom, kitchen, living area and a small back patio space. The land is about 142 m2 and the construction is 64m2 and there is allowance to build a 2nd level. All services are underground and there is a nearby park with soccer field.

This is a great option to be able to vacation or retire in Mexico at a very affordable price of just $45,000.  Practically for the price of a luxury car, you can own a private home in paradise!

For more details click here.

El Cielo Playa del Carmen is a new residential closed gated community on the north end of the town.  As the downtown area continues growing, we are finding that some people are now seeking the life style of having Playa del Carmen beachfront property, yet in calm living spaces.  I had been driving past the north end of Playa many times heading to Cancun or to the Cun airport and always saw the sign to El Cielo Residential community but it always felt….too far from the activities.  Today, it feels as if the north end is… not so far away.

*Maybe it is that when we go to the beach we now seek less of the crowded areas
*Maybe it is that with the new Playa del Caremen overpass, the north end will only be about 5 minutes to get to the south end Sams Club and Centro Maya.

Below is a short video of some brand new villas that are  just being finished within the El Cielo community.

The project above has already sold three of their 6 units, and when I listened to the buyers observations, the following are some of the comments of why they purchased.

“The idea of getting up early in the morning and running down to the beach, doing a nice jog up and down the sandy beaches of the Caribbean, running back through the jungle road to get back to El Cielo, then arriving to my own villa, having an outdoor shower to rinse off, and then continuing my routine by doing laps in the pool is the dream I had for living here in Playa”

“It is as if I am living in the jungle, surrounded by the trees and the birds whistling….yet the pool, the palapa, the nice green yard areas are so tidy and clean,  I really feel relaxed and charge up my batteries when I lounge for several hours next to the pool.”

“I love the idea of letting my kids jump on their bikes, use the bike trails inside of El Cielo to get to their friends house, and have the comfort that they are safe.  Or even that the kids can run out to the pool, and I can be nearby inside of my villa.  This is a great place for a family”

As an investment, the factors that I see as positive are the strong population growth of Playa for the next five years and the location of El Cielo Playa del Carmen being on the east side of highway 307 and near to the beach.  With the homes now becoming limited on the east side, the only properties left to develop remain on the jungle side.   Also, the accessible financing by developer which will be offered only on the fourth unit.  Contact us for a detailed report.

Thomas Lloyd graduated from Purdue University Krannert School of Management with a degree in Management/Financial Option Investments. He has been living, investing, and working professionally in Mexico for over 15 years. In the summer of 2009, he received the first federally applied Mexico Real Estate Degree and Mexico Professional Real Estate License S.E.P. #5978657. He is the current president of TOPmexicorealestate, you can contact him at (512) 879-6546 or through the company’s web site www.TOPmexicorealestate.com NETWORK

“Mexico’s Leading Network of Specialists for Finding and Purchasing Mexican Properties Safely!”