On Febrary 6, 2012, the second stage of the new boardwalk for the beachfront town of Progreso in Yucatan saw its grand opening to the public!  The boardwalk (“Malecon” in Spanish) will add value, both in terms of lifestyle and monetary worth to Yucatan homes for sale in the town.

Progreso, a charming little town with a strong local character, is located on the north shore of the Yucatan Peninsula, about 3 hours away from the more famous resort cities of Cancun, and about 30 minutes away from the classic colonial city of Merida.

The sun setting over the new boardwalk

The total investment into the boardwalk project was $155 million pesos (about $12 million USD), $64 million of which were for the recently completed second stage.  The hope is that the brand new, stylish boardwalk will make the town more attractive for tourists and for international real estate buyers – and from what I’ve seen, it looks like it will work.

The project included a stylish concrete walkway, light fixtures, a flagpole 15 meters (160 feet) in height, walkway benches, public restrooms and the remodeling of the traffic circle and plaza nearby.  The new boardwalk extends for about 3 miles.

A rendering of the new boardwalk

The walkway, which spans then entire Historic Center, is also expected to add appeal to this part of the town, which combines old architecture with local markets and nice little restaurants, bars and cafes.

Progreso welcomes waves of cruise ship tourists on a regular basis, but in the in-between times is a quiet fishing town with a small, close-knit community of long-time U.S. and Canadian expats.  Many Americans and Canadians like to buy old homes a block or two away from the beach and renovated them.  Mexico beachfront for sale in the town also includes modern condos and new homes, just outside of town.

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

A beautiful cenote

Two features which many Americans and Canadians look for when they buy Yucatan real estate are the area’s lush, green jungle, and the other is the relaxation of living in close contact with the mysteries of the ancient Mayans.  The recently opened “Mayan Cenote Park” in Chemax, Yucatan (February 2, 2012) combines the best of these two factors for residents.

The park, designed so that visitors can enjoy an unforgettable experience with nature in the Mayan jungle and ancient traditions is 10 hectares in size (about 25 acres) and is the largest ecological park in the area.

Part of offering experience with the ancient mysteries of the Mayan people are the natural wonder of the area’s “cenotes.”  These magical sites, which were sacred to the Mayan religion, are naturally occurring fresh-water pools at the entrances to the area’s underground cave and waterway system.

The main attraction is a cenote with an 80 meter diameter (about 260 feet), a depth of 24 meters (about 80 feet) and a height of 22 meters (about 72 feet) from ground level, at the opening of the cave, to the water’s surface.

A tour is offered inside one of the caves where visitors can enter by means of a traditional ladder, 34 meters long (about 110 feet). Visitors can practice sports like zip line and rappelling.

The park is located in the municipality of Chemax, near Valladolid, about 1 hour away from Merida.  The town is also about 2 hours away from Playa del Carmen, hence benefiting Playa del Carmen real estate owners as well as yet another beautiful attraction and place to relax in harmony with nature.

Grand opening of the restaurant, with various dignitaries

The construction of the park cost $56.6 million pesos, or about $4 million USD.

The park also includes areas for hammocks, thatched-roof “palapa” shades, handicrafts for sale, lockers, a restaurant with seating for 800 people, a kitchen and space for those who enjoy photography.

New attractions like this park promise to make Yucatan grow not only as a world-class tourist destination, but also as one of the leading Mexico real estate destinations.

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

The Grand Opening at the Cenote

Sitting at home, looking at the snow outside, what are you thinking of?  Cleaning the drive way?  Driving on slippery streets?  A game of golf?  Well, probably not for another few months, unless, of course, you’re thinking of heading south to the Yucatan Peninsula to live in Mexico for the winter.

Many Americans and Canadians have already decided to buy a Playa del Carmen home, enjoying life in this warm climate all year, or just for the winter.  For golf lovers, there couldn’t be a better choice.  Many homes are available in the area directly within gated golf course communities, where a game of golf is a part of day to day life.  Even for those who choose to buy in another kind of community, there are 8 professional golf courses in the area, including “El Cameleon” which is host to Latin America’s first PGA event.

Playa del Carmen is not alone on the Yucatan Peninsula; Cancun’s famous Hotel Zone, less than an hour north, is home to a handful of excellent courses as well.

Throughout the rest of the Peninsula there are a growing number of options as well.  Yucatan real estate also offers two excellent options.  They are located just off the highway heading north to the beachfront town of Progreso, less than 30 minutes away from Merida, the largest city, with a beautiful colonial downtown.  Merida is about 3 hours away from the Playa del Carmen / Cancun area.

Heading southwest across the Peninsula, the up-and-coming area of Campeche currently has one upscale golf course residents close to completion, and the golf course under construction.  A second golf course development is in planning stages on the highway to Merida.

So, what are you doing sitting around in the snowy north, waiting for the spring for your golf?

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

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

A new service is now being offered for getting to know Merida’s historical sites – an “audio guide” which allows visitors to take their time and go on a self guided tour, choosing where to spend more time, and where not to.  A great little perk for tourists, right?

Forget tourists, this is great for those of us who choose to live in Merida!  When you buy Yucatan real estate, especially if it’s a charming colonial Mexico home in the old city, you will be surrounded by and immersed in a rich culture and history.  Whether you actually go out to learn more, or you just chat with the locals (both Mexicans and expats who’ve been around for while,) you’ll begin uncovering layers upon layers of stories, anecdotes and explanations.

If you like this sort of thing, the new audio-tour service could be an ideal way for you to get to know this city’s history.  The way it works is that there are 6 different “routes” with audio information about historic sites, parks, monuments, museums, markets, etc. Users can choose which point on the route they wish to hear about, on a digital audio system.  Currently there are recordings for 56 different sites, and the information describes their historical, architectural and cultural significance, as well as related customs and traditions from Merida.

Users can choose the language – Spanish, English, French, Italian or Mayan.  There is a small fee of about $6 USD for the rental of the audio device for 4 hours.

Many expats who live in Mexico enjoy becoming “experts” on their area’s history, culture and little facts.  This service is an ideal way to become an expert on the city’s main historical sites.  This way, when family and friends come to visit, you can be their own personal tour guide!

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!”

We came across some excellent documentation and photos of the old Yucatan real estate region prepared by Mr. Carlos Rangel.  Click here to see his slide show.

These photos show Mexico land and how it looked over 80 years ago.

This is what Merida looked like in 1920.

This Mexico land was the market zone.  This area has gone through numerous transformations.

In the beginning of the 20th century, this zone was known as the “The horn of plenty”, given that along the length of the street, people could obtain a wide variety of products and services.

This is 65th street, at the beginning was the original and main avenue of the City of Merida.  “Paseo de las Bonitas”.

Today, you will not notice the facade of the Lucas de Galvez market.

The Citadel of San Benito, this is where the San Benito market also exists.  The military barracks are seen on the far side which no longer exists today.  The water tower stands on the right hand side

Above you can see the the facade of the Franciscanos of Yucatan.  This was the largest convent in Yucatan.

It was destoryed in the middle of the 19th century in order to construct the military barracks

Which was also destroyed in order to make the marketplace.

There have been many constructions where the current marketplace is located:

- The Pyramids of the Mayans of the City of T’ho,

-Then the Convent of San Francisco,

-Afterwards the Citadel of San Benito,

-Afterwards the Central School of Felipe Carrillo Puerto,

-it was even used as a parking lot at one point in time

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There are probably hundreds of different reasons to live in Merida, the colonial capital of the State of Yucatan, and the surrounding towns, but these 5 reasons summarize the core benefits most expats will find.  If you buy Yucatan real estate, you will enjoy:

Culture and History

Well-kept-up colonial cities, Mayan Pyramids, beautiful architecture, traditional music, live jazz concerts, art shows, local handicrafts, artisan shops, museums and galleries are just a glimpse of the culture you will enjoy in Yucatan.  You can enjoy romantic evening walks, or also find a vibrant, living city center.  In addition to Merida, which has the second largest colonial city center in Mexico (after Mexico City) there are a number of beautiful colonial cities and towns in the area to visit.  Chichen Itza has been named one of the new Wonders of the World for a good reason, and dozens of other Mayan Pyramid sites in the area mean you never run out of new choices.

Beachfront and Nature

Merida is only 30 minutes away from the resort town of Progreso, and the long stretch of beachfront along the north of the peninsula, known as the Emerald Coast, offers many beaches to visit, in addition to ecological wonders, such as the flamingo reserve in Rio Lagartos.  The area is also famous for its cenotes, cool, naturally formed pools at the entrance to underground caves and waterways; some are ideal for refreshing swims, others are beautiful just to see.  The surrounding countryside is ideal for horse-back riding, and the jungle can be enjoyed in many, many ways, from ATV rides, to wildlife watching.

Variety in Properties

There are few places where you can find colonial Mexico homes, luxury beachfront condos, gated golf course communities and large countryside ranches all in virtually the same place.  You can choose a traditional Mexican home with a lots of flowers and a courtyard with a fountain, but you can also enjoy a relaxing lifestyle in completely modern properties.  Out on the country, you can buy a ranch or a large plot of Mexico land and have whatever kind of home built that suits your tastes.

Low Cost of … Everything

Well, just about everything.  Properties not only come in all shapes and sizes, but they are very affordable.  What’s more, the cost of living will be very low.  You will hardly notice the water bill, and electricity is also cheap (unless you use a lot, in which case the rates go up!)  Fresh fruit, vegetables, excellent food and going out for the evening tend to cost much less than in other places.

Modern Services

To top off all of this, Merida is a modern city of a million people; there are new malls, large-screen movie theaters (some are played in English), international stores, new golf courses, excellent hospitals, wide express ways, internet service and much more.  While you enjoy the romance of an old colonial city, and the variety of the area’s nature, you will also enjoy modern comforts.

Thomas Lloyd
512-879-6546

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

How would you compare the cost of utilities in the Yucatan real estate region to the cost of the same utilities in the United States? Electric, gas and water?

Electricity in nearly all of the Mexico real estate regions are controlled by the government owned CFE “Comision Federal de Electricidad”  The amount you pay for electricity is based upon usage and is billed on a three level tier -  Basic, Intermediate and High.  The lowest level is generally subsidized to provide cheap electricity to the poor.  However, as soon as you get into the higher levels, electric usage can be expensive.  There is ample motivation to use energy efficiently.

Mexico generates electricity by utilizing thermoelectric, hydroelectric, coal-fired, geothermal, wind powered plants and a nuclear power plant.  For more information on CFE see their website at: http://www.cfe.gob.mx/Paginas/Home.aspx There are a few pages in English.

Natural Gas in Mexico is basically the same price as it is in Texas.  In 1997, the Comisión Reguladora de Energía of Mexico implemented a netback rule for linking the Mexican natural gas price to the Texas price. At that time, the Texas price reflected a reasonably competitive market.

Most residential user of natural gas purchase it by the tank.  Some homes have tanks on the roof others use smaller tanks that are mobile.  There are several gas companies that sell natural gas in Yucatan and they provide service directly to your home or you can refill your tanks at the operations facilities.

The Yucatan real estate region is truly blessed to have an abundant supply of sweet water.  Water in Yucatan and the cost associated with it’s house hold use is very inexpensive.

Can I get a mortgage to finance my purchase of a house in the Yucatan?

Mortgages are available in Yucatan for Mexican and Foreign home buyers.  Scotiabank, Banamex, Bancomer and several other international banks and mortgage banks will provide mortgage backed funds for a home purchase in Mexico.

HOWEVER, the loan process is expensive, time consuming, brain damaging and very rarely utilized in Yucatan.  There are numerous difficult issues that will confront a home buyer wishing to use institutional financing to purchase real estate:

*  Most lenders will not make loans for purchases of less than $100,000.00-usd.

*  Down payments run 30% or higher.

*  Interest rates are generally much higher than what a buyer would pay in the USA.

*  The law requires that all transactions be recorded at actual sales price or an appraised value determined by the Office of the Catastro. The Catastro is  concerned with establishing a valuation, the valor catastral, used as the basis of property taxation.  Since this value of property in Yucatan is frequently much less than the actual sales price, a host of problems emerge for a financed purchase.  It is very difficult to find reliable Comparables.  There can be significant tax issues that  severly impact the Buyer and Seller financially.  Sellers who are not able to avoid capital gains taxes (ISR – Impuesto Sobre la Renta) face a 30% taxable rate on their gain.  Buyers pay a 2% (in Yucatan) transfer tax based upon the purchase price or valor catastral of the property.  To issue a mortgage, banks will require that the actual purchase price be recorded at the sale and an independent appraisal that supports the purchase price will be required.

*  Most lenders will not make a loan for raw Mexico land, raw beach, properties that are in very poor condition or located in industrial or business type areas.

Where do most of the expats live in Merida?

By far, the majority of expats living in the city of Merida, live in the Central Historic District, known simply as “Centro”.  Centro is a very large geographical area.  In fact, Mérida has one of the largest centro historico districts in Mexico (surpassed only by Mexico City). (note to Ellen – maybe this is a good place for a link to google map of centro)  Generally speaking, Centro is a couple square miles and it is populated by thousands of colonial homes, shops, restaurants, parks, squares, theaters, schools, businesses, government offices, markets, art galleries, sidewalk cafes, stunning  architectural treasures and a few, unfortunately ugly buildings like the Telmex box.

Most expats love the ability to walk to the theaters, parks, squares, markets and businesses located in Centro.  There are cultural events nearly every night of the week in Centro – folkloric dance, concerts, poetry and musical recitals, ballet, the symphony orchestra, comedy, lectures, home and garden tours, The Merida English Language Library, cantina’s and much, much more!

Has the Yucatan housing market been affected by the downturn in the housing market in the USA?

The mortgage crisis of 2008 and the ensuing global financial crisis of 2009 had a an impact on the Yucatan real estate market.  However, the S1N1 Flu scare of 2009 was more devastating to the Mexican economy and Yucatan real estate market than the global financial crisis.  The double punch of the late 2008 mortgage meltdown and the April 2009 Swine flu pandemic scare lead to the worst real estate market we have witnessed in Yucatan since 9-11.  Most Mexican schools and nonessential businesses were asked to voluntarily close for a week in April.  The resulting negative press and global fear effectively killed the tourism, restaurant and real estate businesses for the remainder of 2009.

2010 was a good year and we saw a number of foreign and local buyers return to the market.  The number of American buyers is still below average which we believe is due to the lingering weak economy and a “shell shocked” American consumer.  Canadians, Europeans, Mexicans, South Africans and South Americans have returned to the market place.  We believe 2011 will be a better year than 2010.

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!”

There are several reasons why Yucatan real estate is an ideal place for your Mexico retirement.  While most of the features can be found in some other parts of Mexico, Merida, the capital of Yucatan, and the surrounding area provide a fairly unique combination of the following features.

Colonial Magic

When the Spaniards conquered the Yucatan Peninsula, the city of Merida was founded on the site of an ancient Mayan city.  The narrow streets, old buildings and traditional Mexican homes still reflect the magical atmosphere of centuries gone by.  With traditional music to be heard in the streets and handcrafts to be found in community markets, retirees can enjoy this rich lifestyle to its fullest.  Mexico homes within walking distance can be found for very low prices.

Beachfront Luxury

Only 30 minutes away from Merida is the beachfront resort community of Progreso, where modern condos can be found with ocean views.  Eastward along the north coast of the Peninsula is the Emerald Coast, which is a beautiful stretch of small communities along amazing beaches.  Whether you live directly on the beach or not, you will be able to spend many retirement days walking in the sand.

Modern Services

Merida is the largest city and cultural center of Yucatan.  It includes new shopping malls, large international stores, an international airport, excellent highways to nearby areas, modern hospitals and much more.  The magic of the old city and beauty of the beachfront is balanced well by modern convenience.

Many Activities

Besides the restaurants and galleries of Merida, and the oceanfront activities on the beach (diving, snorkeling, etc.) retirees can enjoy professional golf, sight seeing in ancient Mayan pyramid sites, swimming in the “cenotes,” which are cool, natural fresh water pools, shopping, English movies, libraries, live Jazz concerts and much more.

Healthcare and Retirement Specific Services

To make all of this even more appealing to retirees, the city government has recently begun to make an effort to attract retirement-specific healthcare facilities, in addition to other services.  This is in addition to the excellent hospitals which already exist.

Retirees can enjoy life in a charming lifestyle in an old colonial city, a close-knit community, and at the same time have easy access to the conveniences and services necessary.  Merida is a rare balance of all of these very attractive features.

Thomas Lloyd 512-879-6546

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

A new project from the State government of Yucatan is to build a new high-speed train connecting major points along the Yucatan Peninsula, focused on tourism purposes, and also offering a new benefit to Yucatan real estate owners, as well as those in Playa del Carmen and in Campeche, which are the long-term start and end points of the route.

The initial stage of the project will offer service from the city of Merida to the pyramid site at Chichen Itza, allowing residents and tourists in Merida to visit the site easily and quickly, as well as the other way around.  Construction for this stretch is to begin early in 2011.  The affect on the Mexico real estate market will be positive for all of these regions.

Later phases will extend service eastwards to Playa del Carman, ending just south of town at a ferry dock to Cozumel, and westwards to Campeche, another colonial city with a growing tourism industry.

Located in a very well established and growing tourism center, Playa del Carmen property owners will benefit from yet another transportation option to arrive to various other points in the Yucatan area.  A growing trend among real estate developments in the area has been the option of a care-free lifestyle, for those who find it more relaxing not to worry about payments for maintenance, insurance and other costs involved, as well as traffic and parking issues (although traffic, to be honest, is still very minimal in Playa del Carmen).  The trend has been growing especially among retirees.  The high speed will also serve as a benefit.

For Campeche real estate, the train will probably help to increase the tourism traffic to this newly growing tourist destination, bringing visitors from the more popular areas further east.  An increase in tourist traffic will help to bring new services; Campeche, a beautiful, fully restored colonial city, already enjoys the presence of good hospitals and a Walmart, and has 2 golf courses and a marina along the way.  More shopping options and and increased number of activity choices will develop.  Of course, the transportation option for residents will also be a bonus.

So far, a bit over $3 million dollars have been spent on studies on the feasibility and functionality of the project.

This project will help continue to unify the Peninsula into one large tourism area, as well strengthen new tourism areas on the Peninsula.  It will make the entire Yucatan region more attractive for people looking to retire to the region and  retirement communities to establish presence by offering more attractive amenities such as good transportation options for day site-seeing trips and outings.

Thomas Lloyd
512-879-6546

THE www.TOPmexicorealestate.com NETWORK

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

Yucatan real estate offers one of the finest Mexican retirement communities, combining a historic colonial city, Merida, with a very nearby beachfront and a large selection of modern services.  Yet, the government of Yucatan hasn’t just sat back and “let it happen;” the state and the city are continually investing and making efforts to make Merida and Yucatan more attractive and liveable for tourists and retirees.

One of the most recent efforts was announced with an upcoming investment of about $12 million dollars into the maintenance of Merida’s historic center, as well as the development of tourism infrastructure projects in Merida and nearby Yucatan communities such as Progreso and Valladolid.

The investment will include “romantic” touches like the illumination of colonial-aged churches built in Merida’s city center.   It will also include programs to help build awareness of, and offer information about the buildings, museums and landmarks located throughout the city.  In a city already known for romantic evening walks past picturesque old buildings, with the sound of street musicians, such improvements will continue to contribute to the unique atmosphere which this Mexican retirement community already provides for American and Canadian retirees.

Another recent investment focus, interesting on the practical side for retirees, is on attracting a larger number of retirement-specific medical services.  Merida’s hospitals are already known for their high quality and accessible prices, drawing patients from all around the Yucatan Peninsula (even beyond Mexico’s borders.)  This new effort is intended to bring specialized clinics that work specifically with the needs of retired expats living in the city – offering service in both Spanish and English.

These are only two examples of how Yucatan is working to make Merida and the surrounding communities one of the best options for U.S. retirees, combining a very relaxing lifestyle close to home, with culture, activities, and low prices.

Thomas Lloyd

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

In order to consolidate the Merida international airport as one of the best in the Mexico real estate region, in June 2010 authorities announced that the Asur, operator of the airport in Merida as well as in Cancun and other locations, will invest 280 million pesos (approx. $22 million U.S.) into upgrading the terminal over the next five years.  For Yucatan real estate buyers, the new investment will mean ongoing comfort for travel to and from home, as well as improved services for tourists, supporting the area’s tourism industry.

The chairman and CEO of Asur, Fernando Chico Pardo reported that the planned works, will be added to those carried out up to 2009, which incurred expenses of 455 million pesos (about 40 million U.S.). The remodelling and expansion activities in Yucatan include work in the boarding corridors, an expansion of 100% in the waiting rooms for boarding and the creation of a centralized area for checked baggage with high-efficiency technology.   A new area for culture and art, which will add to the existing one, considered one of the best in the country of Mexico.

With a 8.5 percent growth in passengers and operations over the past month, the Merida International Airport has become a national example for Mexican airports, and the announcement of this new investment will continue to develop world-class services for residents of Yucatan.

The Yucatan real estate area is already a world-wide favorite for tourism and for property acquisition, unique in its current-day culture and lifestyle, its ancient Mayan history and natural attractions.  The ongoing improvement in the airport and similar infrastructure will continue to promote Yucatan as a place which provides property owners from the U.S. and other countries with an ideal combination of these elements with world-class services.

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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!”

I have edited and updated a few article to include new tax laws and closing costs for the Yucatan Real Estate region.  These updates will compliment my article I posted last 14th of June.

To see this post please click here (Yucatan Real Estate Capital Gains Tax).

The updates for 2010 include a capital gains tax of 29% as well a regulation that home owners who qualify to avoid a percentage, or all of the ISR,  are allowed to exercise that privilege once every 5-years.

CORPORATION CAPITAL GAINS taxes are a little more complicated.   If you are holding title by utilizing a FOMC (Foreign Owned Mexican Corporation) it will be most beneficial to employ a sharp accountant.  They will counsel you in order to reduce your ISR obligations to the minimum possible when you sell your Mexico real estate.

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!”

Merida will soon be enjoying the wonderful sounds of ballroom jazz with a concert performed by the areas “BIG BAND MUSICIONS”.  The Merida real estate market has been one of Mexico’s most popular second home and retirement destination for many Americans and Canadians.  The warm weather and even warmer society has been a welcoming attraction for many non-Mexicans.  As more “northerners” fill the streets of this Mexican Colonial city during the winter months, more activities such as art exhibitions, sports events, and concerts become available for the enjoyment of the locals and out of town residents.

The concert will be played this coming Saturday, February 27th at 5:30 pm and will be sharing the swinging sounds of Duke Ellington, Glenn Miller, Artie Shaw, Benny Goodman, Count Basie and many more classics from these and other big band stars.

The concert will be played near to the Yucatan beachfront properties in SAN BRUNO under a FULL MOON and thousands of stars direct from the Mexican Yucatan!

Mitch Keenan and his company Mexico International Real Estate are proud sponsors of this event whose proceeds go to benefit the school children of TELCHAC PUERTO.    Mitch Keenan is a Mexico Real Estate top broker with over 20 years of experience working in the Yucatan region.

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!”

Mitch Keenan has been working in the Yucatan Real Estate market for nearly 15 years.  Below is an article that has been printed in various publications regarding Mexico real estate along the beachfront.  Many zones of Mexico, including the Yucatan areas along the Gulf of Mexico have been attracting the attention of many Americans and Canadians.  Beautiful beaches, warm tropical breezes, and these Mexico beachfront lots are selling for less than $100,000!  The first part of the article listed below.

Imagine living in a beach house, the ocean at your doorstep, in a tranquil, laidback fishing port, where you can buy the morning’s catch right at the dock. Then imagine that the house is a convenient half-hour from a major metropolis that offers big-city amenities, from gourmet shopping to an international airport. Now imagine that you paid less than $100,000 for all that…
Sound too good to be true? Bargain-priced beach property is getting harder to find. That’s why the Yucatan Gulf coast is so special.
 The Yucatan Gulf coast runs along the top of the Yucatan Peninsula from the towns of Chuburna and  Chelem east to Dzilam de Bravo, a distance of about 50 miles. For much of this coast, the easiest way to get there is to take the highway north from Merida to Progreso, and then head east or west from Progreso along the coast. The trip from Merida to Progreso takes 30 minutes.
 Progreso, with a population of about 35,500, is the largest town on this stretch of coast and an appealing destination. It’s the port for the Yucatan Gulf coast and it’s also a cruise ship stop.
Progreso is a bustling town, with a prosperous-looking downtown area and the relaxed ambience of a beach destination. It’s also the only place along this coast that might qualify as a “city”. The other towns along this coast are fishing villages, some of them small.
 The beach here is white sand, and in sunny weather there are usually swimmers and sunbathers. Seafood is plentiful and inexpensive. At restaurants like Los Flamingos -my local favorite- a medium-sized plate of ceviche costs about $7; the sea view is free.

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 Yucatan Real Estate market has been increasing in popularity as more people discover its Haciendas, Colonial Homes, and inexpensive Waterfront properties along the Gulf of Mexico.  From Celestun to Progreso to Isla Holbox, Yucatan Beachfront properties on the Guld Coast, also known as The Emerald Coast or The Flamingo Coast, enjoys miles of undeveloped and virgin beaches. This coast offers more variety and opportunities to budgets large and small, than the majority of the Mexico real estate properties located on beachfronts along the Caribbean, Pacific, and Sea of Cortez regions.

 The majority of the Yucatan Beachfront real estate are populated with wild Pink Flamingos that live, year-round in the lagoons and marshes that frame the beach coasts of the Yucatan Peninsula.  You will find numerous small, traditional fishing villages. All have electricity, city water, internet, telecommunications, health clinics, gas stations, restaurants and some simple lodging. Good highways allow for an easy drive to the coast’s largest port, Progreso, where you will find movie theatres, great restaurants and bars, discos, clubs, hospitals, clinics, hotels, banks and shopping.

In comparison to the Caribbean coast, the Gulf coast of Yucatan has a more “original” feel. The Gulf coast is not geared towards tourism and does not have a touristy or glitzy attitude as is commonly found on the Caribbean coast.  The towns along the Gulf coast have been here for years.  The have their own unique personality, vibe and soul.

There is something here for everyone! 

Progreso, located just 20-miles from the Merida real estate market, is Southern Mexico’s busiest port.  It’s 4-mile pier hums with activity 24-hours a day.  Cruise ships dock here and their travelers may choose from a menu of day trips and adventures that include: The Mayan ruins of Uxmal, Xcambo or Dzibilchaltun; a visit to the fabulous markets and architecture of Merida; Cenote diving/swimming; tropical bird watching; sport fishing or just hanging out at the beach restaurants and bars that line Progreso’s Malecon (mile long beach walk).

From Progreso you can travel west to the villages of Chelem, Chuburna and Sisal.  All are small Yucatan beach towns that are populated, year-round, predominantly by fisherman families.  But, they are also becoming popular expat Yucatan retirement communities.  People from all corners of the globe, including locals, maintain beach homes in these small pueblos.  You can find homes here to fit any budget.

Continuing west around the Peninsula brings you to Celestun.  Celestun is also a small, remote fishing village situated on the west coast of the peninsula near the Campeche – Yucatan state border.  It is about a 90-minute drive from Merida, on a paved highway that passes through several small towns.

Celestun is known for its Flamingo Reserve, fresh water springs and estuary.  There are several decent hotels and restaurants.  There are also some beautiful stretches of beach.  Celestun is located in an ecological reserve and building on the beach lots outside of the municipal zone can prove to be difficult.

Traveling east from Progreso you will arrive first in Chicxulub Puerto (which has grown together with Progreso  – they seem like the same town). Continuing down the highway you will come to Uaymitun (there is a Flamingo observation tower located in Uaymitun), San Benito, San Bruno, Telchac Puerto, San Crisanto, Chabihau, Santa Clara and Dzilam de Bravo. The beach road ends in Dzilam de Bravo. 

The wealthy Yucatecos started building upscale Yucatan homes on the beach in Chicxulub and Uaymitun years ago.  There are some very beautiful and expensive beach homes in both areas.  The last 5-years have witnessed substantial growth of beach homes all the way to Telchac Puerto and beyond.

Generally speaking, the stretch of beach beginning from the east side of Progreso to Telchac Puerto is the pricier beach, populated with many luxurious beach homes.  Beach prices are generally higher on this stretch, compared to the beaches on the west side of Progreso. 

(Note: Beach property is generally priced by the linear meter of beachfront.  You will find this to be true in all parts of Yucatan.  If you stumble upon a property being priced by the square meter, square foot or linear foot of beach front, you should be extra cautious about purchasing.)

The State of Yucatan recently enacted an environmental protection law “Decreto 801” designed to oversee construction and development on all beaches within the state.  It is advisable to make certain that your Yucatan beach property will fall within the parameters of this law if you are planning to build.

There is an especially deep and high and beautiful beach, located to the west of Chuburna Puerto that falls within the parameters of “Decreto 801”.  There are several very nice lots here available for purchase.  Please feel free to contact me for more information on these lots or with questions about any of the beach areas in Yucatan.

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 Yucatan real estate market has many property types for choosing.  But some with the highest demand are haciendas.   Haciendas are large farms, or can also be plantations, or factories which are mainly found in Mexico, but also present in other Latin American countries such as Brazil and Argentina.  Throughout the Mexico real estate market, some of the most famous Haciendas are in the states of Yucatan, Campeche and in the Yucatan peninsula.  Mitch Keenan is an active broker for the Yucatan real estate region and has become very knowledgeable on these type of properties that have become quite popular over the past several years.

It is amazing what you can pay for some of these old colonial structures, fix them up, and then see a new transformed and restored property.  It can be a very memorable adventure, as you learn of the Mexican history while restoring, search for suppliers of talabera or other typical material found in old colonial Yucatan homes from different cities and regions throughout Mexico. 

This is all part of the fun while taking on a “fixer-up project” in another country or within the Yucatan real estate area.  I was just speaking with some Canadian friends of mine who mentioned she had found a small Mexican village in the middle of no-where outside of Valladolid.  Several families from the village had small crafts/businesses where they were rock carvers.  They made various objects and accesories from rock of which she bought wall light covers for $15 usd and in Cancun they were being sold at $40.  She was very excited of her find and wanted to travel even further into the near by states of Oaxaca and Chiapas to find more crafts and accesories to be able to purchase such products straight from the factory. 

If you have any further interest on Haciendas or the Merida Yucatan region, Mitch has been dealing in this Yucatan region for nearly ten years.  You can see and learn more about him and his listings as he writes and shares some of his stories by clicking here, mexico real estate blog.

512-879-6546

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

The weather in Yucatan is Tropical. Welcome to life in the tropics If you are looking for real estate in Yucatan it gets hot and gets humid Hurricanes are common on the Caribbean side of the peninsula but much less so on the Gulf Coast Tropical weather can be severe However, the temperature does not get below freezing and it NEVER snows. If you dream of owning a Yucatan home or hacienda and you like to garden, you will love the year round growing season!

Mexico Real Estate Prices

You can get a lot of home in the Mexico real estate market at very reasonable prices! Our property prices start as low as $40,000.00-usd for a fixer upper on the beach or in Merida. Construction prices are very reasonable, currently running below $80.00-usd per sq. ft. to build new or remodel. Labor wages are low and you can hire domestic help for around $20.00-usd a day. Stretching your dollar is easy!

HEALTHCARE

Healthcare in Yucatan is on par with the USA, Canada and Europe. There are numerous good and clean hospitals and clinics Many facilities arestate of the art. Office visits are inexpensive Anyone living in Mexico may enroll in the national health program (IMSS). There are numerous well-trained physicians, dentists and clinicians throughout Yucatan Procedures, medications and treatments are usually much more reasonable here than in other parts of the world.

TRANSPORTATION

It is easy to maneuver throughout the Yucatan. Well-maintained roads intersect most of the peninsula. TheGreen Angels patrol the main highways and provide assistance to travelers The police also have units designed to help travelers with mechanical problems You can go anywhere by bus or mini van Public transportation is inexpensive Bus routes are well serviced with good frequency. Taxis are also readily available Taxi fares have recently gotten less expensive in Merida due to new competition While it is easy to have a car here, it is not essential. Traveling around the Yucatan is easy and affordable!

CRIME

It is safe here! Yucatan has one of the lowest crime rates per capita in Mexico. Violent crime is a rarity In Merida (Yucatan s bustling capital city) women walk the city streets at all hours without being intimidated or molested. Guns are prohibited. A strong police presence and a low toleration for crime provides for safe streets A sense of tranquility and safety pervades the community.

LOCAL ECONOMY

The local economy in the Merida real estate region is stable and growing. Agriculture, fishing, import/export, construction, construction materials, education, health care, tourism, real estate, legal services, government, retail services and entrepreneurialism provide a constant revenue exchange.

ACCEPTANCE OF FOREIGNERS

There is a large ex-pat Yucatan retirement community across the state People from all corners of the globe find the Yucatan a warm and welcoming place to call home. TheYucatecan people kindly embrace most foreigners into their relaxed and friendly way of life.

That said, Mexico is not for everyone Type-A personalities, impatient types, demanders, whiners, complainers and those who expect Mexico to be likewhere they came from , are going to have a difficult time adjusting here.

If you are reasonably relaxed, not in a hurry, willing to learn a new way of living, socializing and experiencing life, living in Mexico and especially Yucatan can be richly rewarding Everyday can be an adventure From tending your tropical garden to exploring Mayan Ruins – from a solitary stroll on a lonely beach to a bustling and exotic market there is something here for everyone with an open mind, a willingness to learn and a youthful sense of adventure!

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!

I have written several articles on the Yucatan real estate purchasing process here in Mexico Articles about the role of the Mexico Notary Public, about rectifying property measurements, and even about Mexico real estate taxes Below are the last points I wish to share with you before covering other topics dealing with owning property in Mexico

CORPORATION CAPITAL GAINS taxes are a little more complicated. If you are holding title by utilizing a FOMC (Foreign Owned Mexican Corporation) you are definitely going to want to employ a good accountant He or she will be able to help you reduce your ISR debt when you sell.

TITLE INSURANCE

Title insurance is available in Yucatan and Quintana Roo Advise your agent and notario that you would like title insurance.

MEXICO MORTGAGE LENDERS

There are mortgage lenders that will loan to foreign buyers Ask you agent for a reliable lender Keep in mind that lenders in Mexico usually require a minimum 30% down stroke, interest rates are typically higher than in the USA, there are many hoops to jump through and junk fees are pricey Deals that involve a mortgage usually take more time to close and often cause a lot ofbrain damage for all parties.

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!

MEXICO REAL ESTATE CAPITAL GAINS TAXES

(called ISR or Impuesto Sobre la Renta)

An update to this article on 2 items have been included on a post of 1 of March.  Click Here to see (Yucatan Real Estate Taxes Update)

In the Yucatan real estate market, including other regions of Mexico, ISR are assessed when you sell a property The current rate is 28% of the gain (some states might have an additional one or two points) The calculation used to arrive to this Mexico real estate tax owed will depend upon several factors:

1 Years of ownership

2 Citizenship or immigrant status

3 Title held in a Mexico Bank Trust or corporation or

4 Square meters of property

5 Square meters of construction

6 Electrical or Telephone receipts in Owner’s name that reflects the address of the property

7. Proper ID of the Seller that reflects the property address.

If the Mexico property qualifies as your primary residence you can usually avoid a substantial amount of the ISR To qualify for this exemption, as a foreigner, you will need to have the following:

1 A current FM-2 visa that reflects your name and address as it appears on your escrituras/Fideicomiso.

2 Electrical and/or telephone receipts that also reflect the name and address recorded in the escrituras.

3 The property must be held in a Fideicomiso (corporations do not qualify to avoid the ISR tax).

Prior to closing, the seller needs to provide the Mexico notary public with the documentation mentioned above The notario is going to follow a formula (calculation) to determine the amount of ISR owed by the Seller.

The calculation is based upon the square meters of construction in relation to the square meters of the entire lot The notario will multiply the square meters of construction by 2 If the result is larger than the square meters of total land, the entire ISR may be avoided by the seller.

If the amount of land is greater than 2 times the size of the construction, the remainder of the property will be subject to ISR

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. www.TOPmexicorealestate.com 512-879-6546