What is the first key step in buying Mexico real estate safely?  Searching thorough listings? Visiting the area where you want to buy? Researching Mexico law?  Arranging viewings by calling agents on the signs?  Try this: putting together the team of professionals which will prepare you to make the most of your search process and guide you safely through the purchasing process.

This may run contrary to that almost overwhelming eagerness to “get the ball rolling” and start the process quickly (after all, we do fall in love with Mexico quickly!)  However, not preparing yourself properly can leave the door open for problems later on – unnecessary complications, headaches and bureaucracy or something as simple as missing out on the property best for you.

For this reason it’s best to take the time at the beginning of your search process and start forming your team.  The following are the key steps in this process:

1. Find your Mexico agent. The right agent will be the central figure in guiding you through the search and purchasing processes, as well as finding and forming the rest of your team.  In short, the traits you will want to look for are experience, qualifications and a good gut feeling (all three are important, and you may be causing yourself troubles by overlooking any of them.)  Your agent’s office should be a part of AMPI, the Mexican Association of Real Estate Professionals.  This should be the part that you take your time doing, making sure you know you have the right agent and that you feel good with them.

1. Begin your search process. While you form the rest of your team (see point 3 below) you can begin to search for real estate with the help of your agent with confidence.

1. Complete the rest of your team. This will include a lawyer, notary public, an escrow service provider, title research company and a mortgage broker or bank.  The last two depend on each given purchase, but your agent will be able to point out which services you need, and suggest professionals with whom past clients have worked, and who have given excellent service.

While excellent resources exist online to research legal and real estate information, this information will be best understood and applied by someone who has done so dozens of times.  Researching online information can be a good way of “measuring” your agent’s professionalism while you are choosing, but in the end you will need to rely on the professional agent you choose to guide you through these areas.

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

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

The word, REALTOR® has international trade mark protection through the National Association of Realtors®. (NAR) It is used by 1.2 million practitioners in the United States and by international REALTORS® in more than 56 countries, who are affiliated with NAR including the Mexico real estate region. Members of the Mexican Association of Real Estate Professionals (AMPI) are able to become   INTERNATIONAL REALTORS®

In recent months I have heard Mexican government officials at both state and national levels refer to “coyataje.” The closest I can come to an English translations would be “coyote.” A federal government official used the word with reference to the real estate industry being plagued by “too much corruption and fraud.” A coyote is someone selling Mexico properties without an office and without having the proper training in the business and/or dealing outside any code of ethics. The person can be anything from a bar tender to a taxi driver and (even part of a company having a license to do business in Mexico.) Having a business license does NOT make one a REALTOR® again a word with trade mark protection.

Several years ago as a result of a scandal where a person fled the country with buyer’s funds, the AMPI Section in Los Cabos, Baja .California .Sur. came up with a set of Rules. The rules were created as a guide as to how to purchase real estate SAFELY in Mexico. Rule # 1 is “Be sure the agent is a member of AMPI.”

We often see signs “Trato Directo.” This is where a Seller decides to sell without the aid of a professional. Earlier this year a federal government official referred to this as “peligros.” (Dangerous.) ” It is a minefield for those without proper training and knowledge of Mexican law.

So bottom line, when buying or selling property in Mexico it is essential to work with a REALTOR®. Otherwise it is Caveat Emptor (Buyer beware.)

Author John Glaab CIPS is a founding member of AMPI Los Cabos. A Certified International Property Specialist he is active in the National Association of Realtors® Global Business Alliances Group. John was recently appointed as a member of Ampi’s International Relations Committee. for more information (512)-879-6546 THE www.TOPmexicorealestate.com NETWORK

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

One of the most important points to check when choosing your Mexico real estate office is qualifications.  While there are no legal requirements in most of the country for someone to work in real estate, Mexico agents can choose to gain qualifications to better serve their clients; it is to your advantage that your agent’s office holds these kinds of qualifications.

Some of the key qualifications to check include:

ü      Membership in AMPI – AMPI (Mexican Association for Real Estate Professionals) is Mexico’s only professional real estate association.  They promote professionalism, business ethics and training.  It is important that the real estate office you choose is affiliated with AMPI.

ü      Degrees – In 2009, Mexico created a new university degree in Mexico real estate.  Because it is so new, few agents hold this degree, but it is an asset.  Otherwise, degrees in business and related fields from the U.S. or Canada speak well of the level of professionalism.

ü      Certificates & Other Training – There are also certificates and other training programs, offered by AMPI as well as various educational institutions.  These indicate that an agent is interested in keeping up to date with the most recent and relevant changes in the industry.

ü      Experience – While this is not an official qualification, per se, years of experience searching for and selling Mexico homes for sale can count for a lot, especially combined with the qualifications listed above; an experienced broker will know how to apply the knowledge gained from courses, etc.

It is important to remember that the specific agent helping you in your search process does not necessarily have to hold these qualifications, but they should be working under a broker who does.  Be sure to ask your agent about their office’s qualifications – preferably before you start the search process.

TOPMexicoRealEstate.com; Mexico’s Leading Network of Specialists for Finding and Purchasing Mexican Properties Safely

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

More than 600 Mexico real estate agents who are members of the Mexican Association of Mexican Realtors (AMPI) from Western Mexico met recently in Guadalajara. They came to attend the twenty first annual Forum of the AMPI Section in that city.

The “Key Note” address was given by Andres Oppenheimer from the Miami Herald. His column is syndicated and appears in more than seventy newspapers mostly in the United States, but as well in Argentina. Andres is a Pulitzer Prize winner. He is the author of the bestselling book, “Bordering on Chaos.”

Alonso Ulloa Velez, Secretary of the Economy and Promotion in Jalisco opened the FORO. He made a special reference to work being done on a Mexico real estate licensing law in the Jalisco Congress. Deputy Mariana Fernandez is heading a Commission of the Economic Development Department. It had its first meeting on August 31st. A major objective will be to eliminate “coyotes” (non professionals) from performing   legal real estate transactions. NOTE: While a handful of states now have licensing, meetings between AMPI President, Adan Larracilla and the Chamber of Deputies at the federal level are ongoing. The most recent work session was August 5th.

Andres Oppenheimer touched on several economic and social themes. He said that Mexico can take advantage of new high salaries in China to increase activity in the Mexican manufacturing sector. He suggested that Mexico is in a great position to promote, medical tourism.   “Every day, there are more than one million Americans looking outside the U.S.A, for medical services.” he said. “Forty six million citizens are without medical insurance. “ He added that Mexico should accredit the largest number of hospitals possible to satisfy certified organizations in the U.S. Mr. Oppenheimer told the FORO that in order for Mexico to be competitive with China, India, Brazil and other Latin American countries, a new emphasis should be placed on educating engineers and scientists.

Other sessions included a panel on the future of real estate in Mexico, a presentation on creativity and innovation, and architecture in Mexico. A warm reception was given to Dr. Carlos Andrade Garin, Director General of the organizing committee for the sixteenth edition of the Pan American Games. They will take place in Guadalajara from October 14 to 30th in Guadalajara. In addition to athletic activities there will be 451 cultural events. The media center, which has almost been completed, will be larger than the one for the Olympic Games held in Beijing. Dr. Garin’s presentation received a standing ovation.

Attendees at the FORO were invited to attend AMPI’s Fortieth Annual Conference and Annual Meeting. It will be held in Merida, Yucatan from October. 3 to 7th.

Author John Glaab CIPS is a founding member of AMPI Los Cabos. A Certified International Property Specialist he is active in the National Association of Realtors® Global Business Alliances Group. John was recently appointed as a member of Ampi’s International Relations Committee. for more information (512)-879-6546 THE www.TOPmexicorealestate.com NETWORK

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

When planning your Mexico real estate purchase, the most important step in ensuring you find the most ideal home and that the purchasing process is carried out safely is to select a qualified, experienced and reliable Mexico agent.  One of several steps you should carry out when you choosing your agent is an interview.  The following are some questions you could ask and what you are looking for by asking these questions.

• What qualifications do you have as a real estate agent? – This question is important because in most of Mexico there are no laws defining qualifications for real estate agents.  There are degrees, certificates and training courses available, as well as membership in the Mexican Association for Real Estate Professionals.  While the agent you work with directly may not need to have these, the overseeing broker of their office should.
• How will you go about finding the best property for my needs? – You want to find out how thorough their method of searching Mexico homes for sale and other properties is, and how they take your needs and preferences into account.
• Will you consider all properties available? – What you want to ensure is that your agent is one that will search thoroughly and not present you only with a limited set of properties.
• What resources will you use to find properties for sale? Besides giving you more of an idea of how thorough their search will be, it will also give you an idea of how well they know the area.
• How much experience do you have in the real estate industry? – Again, the broker of the office should have solid experience.  If your agent is relatively new to the industry, this may not be a problem if they’re working in an office that can back them with solid experience and qualifications.  Honesty is really important, too!
• How will you use this experience to help me? – Experience, qualifications and knowledge only help if they’re used for your best interest!
• What would you do if you don’t have the information I need? – Again, honesty is important.  Having an agent who claims to know everything is less advantageous than having an agent who acknowledges their limitations and knows where to go when they need to find out more, or refer you to a specialized expert (in law, banking, etc.)

You may think of other questions as well; just remember, when selecting your agent, you want to work with someone who has access to the information and resources needed, and will use those for your benefit.

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

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

When you hire a Mexico agent to work with in your Mexico real estate search and purchasing process, you are hiring a professional to represent you and carry out certain duties for you.  You should have clear expectations of what they can and should do for you, and what they won’t.

The following are items which you should expect from your agent:

• Professionalism – Your agent should be qualified to work as a real estate agent.  This is not required in most of Mexico, but training, certificates and even degrees are available.  There is also a professional association (AMPI.) Expecting these is certainly not too much to ask.

• Honesty – You can and should expect your agent to be forthcoming with you about the knowledge they have of properties, opinions and their own experience and credentials.  It is better to work with an agent who honestly tells you, “I’m not sure about that, but I can find out,” than one who knowingly provides misleading information.

• Knowledge of the Market – Your agent should know the area, what kind of Mexico homes for sale are available, typical prices, etc. and advise you on these items.

• Commitment to Your Needs – Since you are hiring an agent to represent your needs, they should use their knowledge to focus on your needs and preferences during the search process and represent your best interest during the negotiation process.

• Thorough Property Search – Your buyer’s agent should search all suitable properties and present you with the best of these options.  They should not be limited by a commitment to selling a certain property or in a certain complex, etc.  If the properties they show you are not the right ones for you, they should continue to search for your ideal property free of conflicting obligations.

• Good Communication – Since many of the preliminary steps in searching will be long-distance, Mexico agents should be efficient and effective in communicating quickly and getting you the information you need.  Quick replies by e-mail or by phone can be expected – even if they don’t have the information yet, simply to let you know what stage the process is at.  If there are any changes relevant to your search or purchasing process, you should find out quickly.

• Commitment to Service – In addition to good communication, the right agent will help arrange viewings, etc. in a way that will make things a little easier for you coming from a distance.  For example, if you head down on a little vacation or just to view properties, those dedicated to service will pick you up at your hotel to take you on your property tours.

• Knowledge of the Purchasing Process – Your agent, or the broker of the office, should have a thorough knowledge of the purchasing and closing process, and guide you through this, safely, minimizing unnecessary risks.

• Suggestions for the Services of other Professionals – Your agent’s job is to know the area, help you find a good, suitable property and to guide you through the purchasing process.  Certain tasks, however, should be and even must be carried out by other qualified professionals.  What you can expect of your agent is that they advise you when you need the services of others, and suggest experienced professionals.

The following are items which you shouldn’t expect of your agent:

• Know Everything – As mentioned above, it’s actually better that they acknowledge it when they don’t know.  What you can expect is that they will do their best to find out, or point you to someone who does.

• To Advise You on Your Budget – Again, a bank can advise on the possibility of financing, etc., but it will be your job to determine what is realistically within your budget, and advise your agent.  You can expect them to find you the most suitable properties within this budget.  It can also be helpful to you that they make suggestions if there is a property which is slightly above the budget you told them and has exceptional value, or if there is an excellent deal for less.  Your agent should also advise you on probable closing costs so you can plan for this.

• To Do the Work of Other Professionals – If an agent or broker has experience and qualifications to guide buyers through a certain part of the process that is normally not within their tasks (i.e. your agent is also a certified lawyer,) this can be helpful to you; however, if they don’t, it’s better for you that they recommend someone who does.

While it is not good to expect too much, it is also not good to expect too little.  If you don’t feel your agent is meeting your expectations, talk with them; remember your gut feeling is an important factor in being sure that you are working with the right people.

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

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

When choosing your Mexico real estate agent, it is important for you to know the difference between a buyer’s agent and a seller’s agent, their roles, and how this affects you as a buyer.

Very briefly, a seller’s agent is the one who advertises a property on behalf of a seller and represents the seller’s interest during the negotiation and transaction.  The buyer’s agent is the one who helps the buyer find an ideal property and represents their needs during the negotiation and transaction.

When searching for and buying your ideal Mexico home for sale, by Mexican law, it is possible that the same agent carry out both functions. So, when you see a for sale sign on a property, you contact the agent, who is the seller’s agent.  You negotiate a price, close the deal, and all is good right?

Unfortunately, there are some potential complications.  Consider this; the seller’s agent is looking out for the seller’s best interest.  What is the seller looking for in the sales price? The same thing you look for when you sell a property – the highest reasonable price.  It is the agent’s job to help their client negotiate this. What are you as a buyer looking for?  The same thing any buyer looks for – the lowest reasonable price. It is your agent’s job to help you find and negotiate this.

How, then, could one person represent both of these clearly conflicting interests at the same time?

This is one of the key reasons why you as a buyer need to work with a buyer’s agent who will represent you.

Another reason has to do with your property needs.  When your agent carries out their searches for a dossier of suitable properties based on your criteria, they should include all suitable properties, listed by any company, or even privately listed.  It is important that the agent is not limited to only a certain set of properties which they feel they need to give preference to in their sales.

It is also important to know that working with a buyer’s agent costs you nothing.  The commission for both agents comes from the seller; the commission is a standard percentage, if there are two agents, it is split between them.

When you see that nice Mexico condo for sale, or home, the best advice is to find and select a reliable, qualified agent who will represent your needs.  They can then contact the listing agent, and help you find any other suitable property.

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

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

While being able to predict 100% which market (anywhere in any investment) will grow is virtually impossible, in Mexico real estate, it is possible to find excellent real estate deals in healthy markets; this means that you as a buyer can be fairly confident the property they just bought can have substantial margin for growth.

There are two main approaches to take; one is to buy preconstruction condominiums during the discount period – an excellent option, dealt with in detail elsewhere.  The other is to find “fire sales” or drastic price reductions resulting from pressure on the buyer to sell quickly, which is the kind of opportunity we will examine here.

Motivation

In most market areas, Mexico properties retain and appreciate in value healthily; with a given amount of time, a seller will be able to find a buyer for whom both property and price are ideal.  However, in some cases sellers have personal motivations to sell quickly and don’t have the time to wait and sell their property closer to the actual value.  Perhaps they have already moved with their family, and the second property is just a maintenance expense; they have less need to gain a return from the property in resale than to sell it quickly and move on with their lives.  Similar cases can be true for a developer’s unit when the developer is moving on to a new project, and he has already gained what he needs financially from that property.  Other owners may have urgent financial pressures back home.  In all these cases, sellers will tend to list on the lower end of “normal” and even make subsequent large price reductions if the sale doesn’t move quickly.

A Healthy Market

In a healthy market the majority of properties will be listed at “normal” prices.  Significant price reduction may show up regularly, but will disappear quickly.  (Some notable investment experts, like Jim Cramer, will even suggest buying “out of favor” real estate in Mexico, simply because of the country’s growing strength in tourism, and emerging economic strength.)  In general though, it works better for most buyers to have a way of tracking the best price reductions in moving markets.

Where to Look

Online resources, such as TOPMexicoRealEstate.com’s Top real estate deals page, allow you as a buyer to be notified when new price reductions show up.  This tool in particular is excellent for keeping on the ball with e-mail notifications, tracking new price reductions and comparing  similar properties.

Making an Offer

If you see a listing with the word “urgent” or a similar idea tagged onto it – like the majority in the TOP Real Estate Deals page – it’s a good indication that the owner is more interested in selling quickly than getting the exact price they are asking.  If it’s the first listing price, or a modest reduction on the listing price, make an offer; the seller may take the offer to sell quickly rather than waiting it out.  On the other hand, if it’s already the 2nd price reduction at 35% below the original price, another buyer may beat you to the punch if you are still trying to bring the price down.

Like in any real estate purchase, it’s important to balance waiting (for the lowest price and ensuring that the property is right for you) and moving quickly enough, to make sure you get that ideal property.  While you’re waiting for the right deal to show up, take some time and review “normal” prices of the kind of property that you’re interested in, and talk to an agent to get a feel for what price will make for an over-night sale. Also know what your ideal price is.  When the right property shows up at that price, it may be better to move and pay a little more than the “bottomed out” price than loosing your dream home in Mexico to another buyer.

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!”

Bob Hyde and Trish Youngstrum are the newest members of the TOPMexicoRealEstate team, with a special focus on Mexico golf course real estate. They are also American retirees who have chosen to leave South Florida to enjoy a Mexico retirement on the beautiful beachfront of Playa del Carmen. For this reason they can comment on the advantages of Playa del Carmen real estate and Mexico in general over one of the favorite retirement destinations within the U.S. Generally, they are an excellent resource for sharing the benefits that owning Playa del Carmen property and living here offers. This is the second part of an interview with them (see Part 1).

Trish and Bob playing golf in Playacar.

TMRE: What is a retirement in Playa del Carmen like for an American?

Trish and Bob: The best way to describe it is that you can get involved in all manner of activities or, if you’d prefer, do simply nothing but hang out at the beach or pool.

TMRE: What kind of activities are there?

Trish and Bob: Where to begin? Book clubs, wine clubs, exercise groups, yoga, golf (more on that later, too), tennis, water sports, informal luncheon and cocktail hour gatherings, charity and community involvement, (the Rotary Club in Playa is very active) wonderful restaurants ranging from sidewalk taco vendors to world class cuisine…and we’d be remiss if we forgot to mention Playa’s wonderful beach bars!

TMRE: Are there many American or Canadian retirees here?

Trish and Bob: Yes, and we’ve made lots of good friends from both countries, and from Europe and South America, too.

TMRE: What is golf like in Playa del Carmen?

TMRE: Are the courses good?

Trish and Bob: No, they’re great! Beautiful courses by world class designers (Nicklaus, Norman, Dye) that are beautifully maintained.

TMRE: How many are there?

Trish and Bob: There’s one course in “downtown” PdC, at Playacar Phase 2, and six additional courses within easy reach. El Camaleon at Mayakoba is the site of Mexico’s only PGA tour event, the recently completed Mayakoba Classic, and Nick Price’s Grand Coral is our newest course. And there’s more coming.

There’s also an excellent course on Cozumel, a forty minute ferry ride from Playa. It’s fun to see folks walking to the ferry with golf bags slung over their shoulders!

TMRE: Do many people play golf?

Trish and Bob: Yes, but never so many that you can’t get a tee time.

TMRE: Could a golf fanatic choose Playa del Carmen for this reason?

Trish and Bob: You bet…and in the summer, get out early, finish before lunch and then grab a siesta out of the sun. There are also excellent Playa del Carmen condos for sale in golf course communities.

TMRE: How easy is it to get back home? Is it expensive?

Trish and Bob: In our case it’s ridiculously easy, an hour and fifteen minute hop from Cancun’s beautiful modern airport (45 minutes door to door, with easy and convenient parking) to MIA or FTL. And JetBlue and Spirit Air make it easy on the wallet, too.

TMRE: Does your family – kids or grandkids – visit? What can you do with them?

Trish and Bob: Not yet, but when they do there’s the beach and the pool, of course, but lots of environmentally themed water / adventure parks nearby (Xcaret, Xel Ha, Wet N Wild), too. Kids will enjoy the dolphin show at nearby Puerto Aventuras, and when all else fails there’s – you guessed it – McDonald’s, Burger King, Haagen Dazs , Dairy Queen etc. etc. etc….all the familiar logos and comfort food from back home.

Authors Trish Youngstrum & Bob Hyde bring over 50 years’ combined sales experience in the United States, most recently in South Florida. Trish is one of the few Realtors in the US and Mexico to hold the professional designation of Graduate Realtor Institute (GRI) and is a Certified Transnational Property Specialist working with agents and buyers of resort properties from the Americas and Europe. Trish and Bob moved to beautiful Playa del Carmen in 2009 where they now work with TOP Mexico Real Estate. For more information (512)-879-6546 THE www.TOPmexicorealestate.com NETWORK

Trish Youngstrum & Bob Hyde with Professional Golfer Nick Price

Bob Hyde and Trish Youngstrum are the newest members of the TOPMexicoRealEstate team, with a special focus on Mexico golf course real estate. They are also American retirees who have chosen to leave South Florida to enjoy a Playa del Carmen retirement. For this reason they can comment on the advantages of retiring in Playa del Carmen and Mexico in general over one of the favorite retirement destinations within the U.S., and, generally, the benefits that Playa del Carmen offers.

TMRE: Very generally, how would describe your experience being retired in Mexico?

Trish and Bob: We love it! Mexico’s lower cost of living makes possible a retirement lifestyle – in our case right on the Caribbean – that we simply couldn’t enjoy in the US.

TMRE: What first made you interested in living in Mexico?

Trish and Bob: We have a good friend who has traveled extensively in Mexico, loves the country, and decided to make Playa del Carmen his retirement home. He urged us to check it out. We did, and moved here three months later.

TMRE: How would you compare living in Mexico to living in Florida?

Trish and Bob: Florida is a big and diverse place, but we can certainly make comparisons to Miami and Miami-Dade and Broward counties. Two big things…it’s much less expensive and much safer (yes, safer – more on that later) here in Playa del Carmen than in south Florida.

TMRE: How can you compare Playa del Carmen real estate costs to Florida?

Trish and Bob: While the south Florida real estate market seems to have bottomed out and there are still “fire sale” deals available, sales price should not be the only consideration. Fees and property taxes on Playa del Carmen condos for sale are as a rule 90 % less than what you would pay in South Florida. That’s a significant savings over the course of ownership. Here there’s lots of inventory – and lots more on the way – and some really great opportunities to find retirement, second home and investment property bargains.

TMRE: Do you still live in Florida part of the time? Why or why not?

Trish and Bob: No, we like it too much here! We lived a “big city” life in Miami, on the 41^st floor of a downtown condo that overlooks American Airlines Arena, the Arscht Center and the cruise ship port. It was a very nice lifestyle, but we enjoy Playa so much more!

TMRE: How would you compare safety?

Trish and Bob: We feel perfectly safe here, much more so than in Miami. There are simply none of the drug related safety issues that plague northern Mexico communities here in Playa. There is a large but non intrusive police presence throughout the community and on the Federal Highway 307 that connects us to the rest of Mexico.

Continued in Part II

Authors Trish Youngstrum & Bob Hyde bring over 50 years’ combined sales experience in the United States, most recently in South Florida. Trish is one of the few Realtors in the US and Mexico to hold the professional designation of Graduate Realtor Institute (GRI) and is a Certified Transnational Property Specialist working with agents and buyers of resort properties from the Americas and Europe. Trish and Bob moved to beautiful Playa del Carmen in 2009 where they now work with TOP Mexico Real Estate. For more information (512)-879-6546 THE www.TOPmexicorealestate.com NETWORK

The Mexican Association of Mexican Real Estate Professionals (AMPI) has a new President. Adan Larracilla of Puebla, Puebla, has been sworn in, replacing outgoing President Hector Obregon of Leon, Guanajuato Also at the ceremony, Sergio Gomez became AMPI’s new Vice President and ten members representing a broad cross section of the Republic, joined the National Advisory Board. Jose Oscar Vega from the Secretary of the federal Government, representing President Felipe Calderon, presided at the ceremony.

Outgoing President Obregon reported on AMPI’s activities last year, its 55th year of operation. Several new Sections throughout the Mexico real estate market have been established with AMPI now having Sections in 64 cities. A major accomplishment was the establishment of AMPI’s new Training and Statistics Institute. He also reported he had breakfast earlier in the day with fifteen AMPI Past Presidents New President Larracilla outlined his goals and aspirations for 2011.

Jose Oscar Vegas had three messages for AMPI. First, he reported that the current Government is in full support of AMPI and its contribution to the housing industry.  There are too many. “ coyotes” and too much fraud in the real estate industry. . Second he spoke about the need to “regularize” the real estate industry. Here he referred to the need for licensing and mentioned the handful of states that have a law governing real estate. The third theme was “trato directo” which basically is the For Sale by Owner market. He said, “This is a risky proposition.”

Also speaking at the TOMA was Adrian Arriaga, CIPS, CCIM.  Adrian, a past Ambassador from the National Association of Realtors® (NAR) to AMPI and a member of the Texas Real Estate Commission,  is the currently  Chair of NAR’s Global Business Alliances Group. He brought greetings from NAR President. Ron Phipps. NOTE: AMPI and NAR signed a joint venture agreement in 2006. Under the agreement, AMPI members can legally use the word REALTOR®

The event was held at the Hacienda de Los Morales, in Mexico, D.F.

A cocktail-reception followed the inauguration. It was attended by over 300 people including political and real estate industry dignitaries.

Immediately before the TOMA the Mexican Section of The International Real Estate Federation (FIABCI) gathered for a short meeting. During our FIABCI meeting Adolfo Kunz made a review of all his years in FIABCI.. He fondly remembered the World Congresses held in Mexico in the 60’s and 80’s, and his wonderful experiences meeting dignitaries from all over the world in Europe, South America, Canada, and the U.S.A., and different business opportunities he encountered through his FIABCI Membership. Adolfo, an attorney, is a Past President of FIABCI Mexico and was a Deputy in Mexico’s Congress.

Author John Glaab CIPS is a founding member of AMPI Los Cabos. A Certified International Property Specialist he is active in the National Association of Realtors® Global Business Alliances Group.  John was recently appointed as a member of Amp’s International Relations Committee. for more information (512)-879-6546 THE www.TOPmexicorealestate.com NETWORK

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

When buying Mexico real estate, what is the first step you would take?  Looking for a property?  Finding financing?

Let’s try this question another way; if you were to invest $150,000 in the stock market, what is the first step you would take?  Finding an experienced, reliable broker, of course; this is a large amount of money we’re talking about.

Most of the time, when buying a Mexico property for vacations or retirement, you’ll be spending similar amounts of funds, sometimes considerably more.  Even you are on a smaller budget, looking for a less expensive property, it’s still a good chunk of your savings or income you’re considering.

So, why not apply the same logic as with the stock market?  Buying real estate, especially in a different country with different laws and business culture, is an investment and a risk; it’s very advisable to minimize unnecessary risks as much as possible, and ensure that you are buying safely.

Your Mexico real estate team is the key to this.  Considering this point, your very first step should be to build your team of professionals who will guide you through the process.  The central figure in this team will be your agent.

Your Mexico agent.   Together with the broker of his office, the agent will act as your “point guard,” helping not only to identify properties that fit your criteria, but also to qualify property options, and recruit the remainder of your team.  Take your time in selecting your broker, ask for credentials (degrees, certificates, membership in Mexico’s professional real estate association [AMPI]) and references from past clients.

Notary Public. There distinct differences between a notary public in the U.S. and a notary public in Mexico. In the U.S., a notary public might be a bank clerk, secretary at the office, or practice any other occupation.  In Mexico, the notary public must have a law degree, verifiable experience, and pass a rigorous exam. They are appointed for a lifetime term by the governor of each state.

The notary public is the only authority able to transfer the domain from one person to another. No one else can assure that you own a piece of real estate.  Your agent will be able to refer you to the notary public office, and help you ensure that all your documentation is properly notarized.

While these two are the key figures in your team, others include:

• Escrow officer
• Trusted Mexican attorney
• Mortgage officer from a bank (if a loan is needed)
• Attorney

Not all are necessary in every case (except the agent and notary public) but your agent will advise you on which professionals you will need to work with, and recommend reliable professionals with whom previous clients have worked.

Once you’ve started forming this team through your agent, you are ready to begin searching for the property you will buy – safely!

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!”

Every transfer of Mexico real estate property MUST, by law, be made before a Mexican notary public.

The Mexican notary public is required to have a degree in law.  He must have a minimum of five years of legal practice, pass a rigorous examination and then be appointed by the governor of the state in which he/she resides.   The notary is legally responsible for the review of the prior deed and the tax and lien certificates.  The notary must draft the new deed, calculate the Mexico property taxes due and pay them.  Also very important, the notary is accountable for his/her actions through the state and national notary associations.

It is commonly believed that an attorney, in addition to the notary public, is required when buying property in Mexico.   This is not necessarily the case.  In fact it may make more sense to seek out a CLOSING AGENT to handle the many details of the transfer, such as ordering and reviewing the title investigation; obtaining the certificates and trust permits, interfacing with the buyer and seller, answering their questions and concerns in their native language, explaining the nuances of the transfer process; overseeing the payment of funds for these services and expenses; reviewing the deed to be sure names and addresses are correct; being sure it is registered in the public registry of property; making sure it is delivered to the buyer; providing tax receipts to the seller………….and more!

When these matters are left with the Notary Public to handle, they may not all get done, or get done slowly due to the work load of most Notaries.   When these matters are handed to another attorney to perform, they may be sandwiched in between criminal complaints, court appearances and other more remunerative activities.

A good Closing Agent can be an attorney with expertise in title transfers, or it can be a company with experienced closing officers and attorneys on its staff for consultations in the event there are title issues.   More and more there are closing agents throughout Mexico.   They are specialists in titles and transfers.

The role of the Mexico closing agent

An experienced Closing Agent is a key person in the real estate purchasing process. Hiring a good Closing Agent who understands the ins and outs of the Mexican legal system and the requirements of the law as it relates to foreign investment will make the real estate transaction go much smoother.

The closing agent should be involved in drawing up a promise contract and reviewing all documents including title, certificate of no encumbrances, and  permits. A closing agent can also order a complete title search before the transaction reaches the notary public, which will save the buyer valuable time and money should there be a problem with the title.

The prudent buyer will always insist upon using a neutral third party closing agent to protect his or her interests.

Professional Closing Agents will have bi-lingual and experienced closing officers on staff to review the legalities of the transaction and to ensure that all the documents received are in order. Prudent buyers also enlist the help of the Closing Agent, who can oversee the permit process, review the draft of the deed being used in the transfer of title and order the title investigation, identifying any problems before the title has been transferred and money exchanged.

Finding a Trustworthy Closing agent

Clients should never hesitate to ask for details of the professional experience and references.  This is even more important when the real estate agent in the transaction is representing BOTH buyer and seller.  This is dual agency which is still common in Mexico.   In this case the buyer should definitely seek out his/her closing agent.

Questions to Ask a CLOSING AGENT: What exact services will you provide? What areas of law or real estate are your specialties? Can you provide an estimate of taxes and closing cost expenses? Will you order or conduct a title search? Can you provide at least three references?   Do you have experience with transfers to foreigners, Mexican bank trusts and foreign investment? How long have you been offering Closing Services to the public? How do you handle the funds you receive for closing expenses? Do you prepare specific instructions for the disbursement of funds?

Closing Agents do not have to be specifically licensed in Mexico to be able to supervise the transfer process of Mexican property. It is important to be cautious and do the same homework as when researching a real estate agent. Ask for credentials and references. The more experienced the staff and in-house counsel the company has in handling foreign investment transactions, the more protection and safety the buyer should have in a Mexican property purchase.

Author Linda Neil has over 35 years of hands on experience in all aspects of Mexican real estate. She holds membership in AMPI, NAR, and FIABCI and PROFECO Certificate 00063/96. Current member of the national advisory board of AMPI she is the owner broker of LINDA NEIL PROPERTIES for more information (512)-879-6546 THE www.TOPmexicorealestate.com NETWORK

“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

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!”

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!”

MERIDA, Mexico, April 13 – Mexico International Real Estate reported strong 1st quarter earnings for 2010. The company is dedicated to the Yucatan real estate industry specializing in assisting non-Mexicans.   “Our gross sales the first three months of 2010 were just about equal to our gross sales for the entire year of 2009. We typically gross over $10 million a year in sales but last year we just broke $3 million,” stated Mitchell Jay Keenan, CRS.

Keenan is Mexico International’s director and broker of record. Mexico International is headquartered In Merida, Yucatan, Mexico. The company specializes in helping Canadians, Americans and Europeans relocate to the Mexico real estate market. Merida is the capital of the Yucatan. It is renowned throughout Mexico, Canada, Europe and the USA for excellent health care and hospitals, safety, diverse culture, beautiful nearby beaches, proximity to the Mayan ruins of Chichen Itza and an inexpensive tropical lifestyle. Merida enjoys a thriving diverse community of Mexicans, Canadians, Europeans and Americans. Visitors find a welcoming population, cultural events, excellent restaurants and exciting nightlife.

Mitch Keenan has been a Licensed Broker in the United States since the 1980s. He holds a GRI and a CRS from NAR (National Association of Realtors). With over ten years of living and working in the Yucatan real estate industry, Mitch brings American 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!”

The Playa del Carmen real estate region has a new Internet application that is amazing.  The feature allows users to take you down to view streets, residential neighborhoods, and views as if you were standing on the street.   When people are from out of town, and new to a city searching for properties, it can be difficult to feel the atmosphere of the neighborhoods and the conditions of the streets from simple photos.  The TOP Mexico Real Estate network has incorporated a brand new method to view particular properties from the streets and allows the users to virtually pivot 360 degrees to see the surrounding areas.  Currently only five cities in Mexico have this capability which include Mexico City, Monterrey, Puerto Vallarta, amongst others ….and Playa del Carmen!

( CLICK HERE TO SEE AN EXAMPLE )

“The Playa del Carmen real estate market is lucky to be only a handful of cities in Mexico to have this amazing feature”   states Beatriz Lozano from the Internet Technology department at Top Mexico Real Estate.   “today, if you are trying to sell your home and want increased exposure,  this feature has been very successful in allowing interested buyers to see the property at street level and basically, walk through the neighboring streets in Playa del Carmen…all from the comfort of their homes in Canada, USA, Europe!”

I believe we are the first real estate company in Mexico to offer this mind blowing feature.  I am very proud and happy of our team here at TOP Mexico Real Estate and sign off by saying

“stay tuned and visit our web site constantly… you ain’t seen nothing yet!!

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 purchase of  Puerto Vallarta homes can very likely be the  largest financial commitments many of you will make in your lifetime.  When coupled with the fact that you are considering investing in a second home in a foreign country such as Mexico, it is imperative that you have a knowledgeable, experienced professional Realtor representing your interests.

The company you select to represent you in your purchase procedure should be a member of the TOP Mexico Real Estate network.  This innovative group has carefully screened their members in various of the most popular Mexican markets.  These members have the local knowledge, insight and experience to guide you through every aspect of the purchase procedure.  Their extremely informative website is geared towards providing extensive information on how to buy Real Estate in Puerto Vallarta to their clients.  It can also be extremely helpful if your broker is a member of AMPI.

Not only is the AMPI member now affiliated with the U.S. National Association of Realtors (NAR), the Canadian Real Estate Association (CREA), and the International Real Estate Association (FIABCI); they are also required to operate under a higher standard of care, and to adhere to a code of ethics, and they also have access to the Puerto Vallarta homes in the  Multiple Listing System, a computerized data base with thousands of properties listed for sale.

Next, ask for references and interview several brokers and Puerto Vallarta agents.  Ask questions and determine who has the best knowledge of the area and understanding of the principles of the market.  Most importantly, find someone that listens to YOU and has the energy and time to find what you are looking for, and the integrity to represent your best interests.  Once you find that special person, stick with him or her and let them do their job!  An agent that knows you are loyal to them is more likely to work harder for you and find exactly what you are looking for. You might want to start your search just south of Puerto Vallarta downtown in the “Zona Romantica” and Amapas neighborhoods.  This is the most desirable area for short term rental and there are many nice options with good views where you can walk to everything.  Then check Downtown; the Hotel Zone and Marina Vallarta which has good options for both Puerto Vallarta beachfront property options and marina real estate. Finally, there are some trendy new buildings going up in Nuevo Vallarta, and the restaurants, galleries and nightlife will follow shortly.  Once you find the right place, keep asking questions: What will it look like in ten years?  Are highways or other development projects planned for the future?  Where are the schools, churches, shopping facilities?  Are there homeowner fees for maintenance of common areas?  If so, how much are they and when are they paid?  Are all the utilities in and paid for?  What does the developer have left to do?   Also, if you are purchasing in a new Puerto Vallarta real estate development, continue checking my blog posts on things to consider before purchasing.  Good luck and good searching!

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