{"id":1520,"date":"2010-05-16T09:31:33","date_gmt":"2010-05-16T14:31:33","guid":{"rendered":"https:\/\/www.topmexicorealestate.com\/temp-blog\/?p=1520"},"modified":"2021-10-27T17:07:27","modified_gmt":"2021-10-27T22:07:27","slug":"puerto-vallarta-real-estate-market-update","status":"publish","type":"post","link":"https:\/\/www.topmexicorealestate.com\/blog\/2010\/05\/puerto-vallarta-real-estate-market-update\/","title":{"rendered":"PUERTO VALLARTA REAL ESTATE MARKET UPDATE"},"content":{"rendered":"

We have seen a strong increase <\/strong>in sales in the Puerto Vallarta real estate<\/a> market in the past several months.\u00c2\u00a0 The malaise of last year\u00e2\u20ac\u2122s \u00e2\u20ac\u0153swine flu\u00e2\u20ac\u009d debacle is now just a bad memory as the market returns to a state of normalcy. \u00c2\u00a0One well respected and experienced Puerto Vallarta real estate agent<\/a> has reported twice as many sales already this year than he had all of last year combined.<\/p>\n

\"\"<\/p>\n

It is still readily apparent that buyers have the upper hand<\/strong> in negotiations; however, many sellers have undertaken major price reductions or other incentives and have been successful in selling their properties.\u00c2\u00a0 But buyer beware:\u00c2\u00a0 another top agent reports, \u00e2\u20ac\u0153I have already had two multiple offer situations this year, where a buyer hesitated in his offer and was beat out by another buyer.\u00c2\u00a0 Both buyers are still waiting on the sidelines and talking about the \u00c2\u00b4deal that got away\u00c2\u00b4.<\/strong>\u00e2\u20ac\u009d\u00c2\u00a0 One strong driving force in the market is the appearance of the Canadian buyer. <\/strong>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.\u00c2\u00a0 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<\/a>, up from approximately 10% just two years ago.\u00c2\u00a0 Another new paradigm of this market is that the \u00e2\u20ac\u0153flippers are dead\u00e2\u20ac\u009d. <\/strong>Today\u00e2\u20ac\u2122s 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.\u00c2\u00a0 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. \u00c2\u00a0Many of these new buyers are taking advantage of readily available mortgage financing<\/strong> on their property here in PV. \u00c2\u00a0One very busy Mexico mortgage<\/a> broker reports:\u00c2\u00a0 \u00e2\u20ac\u0153interest rates for US Dollar mortgage loans (available to both Canadians and US citizens) are at historic lows.\u00c2\u00a0 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\u00c2\u00a0 Obviously NOW is a good time to buy before rates start to head back up.\u00e2\u20ac\u009d \u00c2\u00a0So where are we headed?\u00c2\u00a0 One of our most experienced and knowledgeable brokers summarizes:\u00c2\u00a0 \u00e2\u20ac\u0153I think our biggest challenge going forward will be to provide the market with quality and credible information<\/strong> 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\u00e2\u20ac\u2122t 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<\/strong> 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<\/strong> now and so over the next 6 to 9 months I think we will be back on track \u00e2\u20ac\u201c a new track to be sure, but with a much higher level of sales velocity.\u00e2\u20ac\u009d\u00c2\u00a0 So there you have it, the Puerto Vallarta Real Estate<\/a> report for winter 2010:\u00c2\u00a0 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.\u00c2\u00a0 We\u00e2\u20ac\u2122ll check in again this fall to see how accurate we were.<\/p>\n

Do you have a question about the Puerto Vallarta Real Estate market? Just ask!<\/strong>
\nMichael 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 \u00e2\u20ac\u0153Mexico\u00e2\u20ac\u2122s Leading Network of Specialists for Finding and Purchasing Mexican Properties Safely<\/strong><\/em><\/span><\/span>!\u00e2\u20ac\u009d<\/strong><\/em><\/span><\/span><\/span><\/p>\n\n\n\n
\n

Want more Articles?<\/strong>
\nReceive articles direct to your inbox. SUBSCRIBE HERE<\/a><\/td>\n

\n

Want to see property listings?<\/strong>
\nSee real estate for sale in my region. CLICK HERE<\/a><\/td>\n

\n

Want to learn more?<\/strong>
\nWhere & How to buy real estate in Mexico. CLICK HERE<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\"Page<\/a><\/span><\/span><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

We have seen a strong increase in sales over the past several months. The malaise of last year\u00e2\u20ac\u2122s \u00e2\u20ac\u0153swine flu\u00e2\u20ac\u009d debacle is now just a bad memory as the market returns to a state of normalcy. <\/p>\n","protected":false},"author":59,"featured_media":13741,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[448,254,298,376,13,582,456],"tags":[1529,109,442,443],"class_list":{"0":"post-1520","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-mexico-buyers-agent-how-to-buy-real-estate-in-mexico","8":"category-mexico-investment-property","9":"category-mexico-loans-mortgages","10":"category-mexicorealestateagents","11":"category-mexico-real-estate-tips","12":"category-michael_green","13":"category-puerto-vallarta-real-estate-mexico-cities","14":"tag-how-to-buy-property-in-mexico","15":"tag-mexico-mortgages","16":"tag-puerto-vallarta-real-estate","17":"tag-puerto-vallarta-real-estate-agent","18":"entry"},"_links":{"self":[{"href":"https:\/\/www.topmexicorealestate.com\/blog\/wp-json\/wp\/v2\/posts\/1520","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.topmexicorealestate.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.topmexicorealestate.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.topmexicorealestate.com\/blog\/wp-json\/wp\/v2\/users\/59"}],"replies":[{"embeddable":true,"href":"https:\/\/www.topmexicorealestate.com\/blog\/wp-json\/wp\/v2\/comments?post=1520"}],"version-history":[{"count":5,"href":"https:\/\/www.topmexicorealestate.com\/blog\/wp-json\/wp\/v2\/posts\/1520\/revisions"}],"predecessor-version":[{"id":1549,"href":"https:\/\/www.topmexicorealestate.com\/blog\/wp-json\/wp\/v2\/posts\/1520\/revisions\/1549"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.topmexicorealestate.com\/blog\/wp-json\/wp\/v2\/media\/13741"}],"wp:attachment":[{"href":"https:\/\/www.topmexicorealestate.com\/blog\/wp-json\/wp\/v2\/media?parent=1520"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.topmexicorealestate.com\/blog\/wp-json\/wp\/v2\/categories?post=1520"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.topmexicorealestate.com\/blog\/wp-json\/wp\/v2\/tags?post=1520"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}