TOP Mexico Real Estate

Are you a Client or a Customer

Thomas Lloyd - Mexico Broker Referral Program (Top Mexico Real Estate) — Wed, 25 Nov 2009 09:32:32 -0600

Is your Mexico real estate agent really working for you Do they really have your best interests in mind Are you their client or customer

So maybe you are thinking what is the difference

What exactly is the difference Well, the dictionary definition for client is:

a- one that is under the protection of another

b- a person or group that uses the professional advice or services of a lawyer, accountant, advertising agency, architect, etc.

And the definition of customer is:

One that purchases a commodity or service

Mexico Real estate properties are one of the biggest investments you will ever make, so how do you want to be treated Like a client or a customer

Your broker should be one that works to protect you, one that has your best interests at heart and one who gives you the best professional advice. Sure, all of us get paid by commissions, but those of us who will have greatest success in the business are those who put the client first.

A few weekends ago, I ran into a friend while looking at some Cancun beachfront real estate He had just started training for a very well known US real estate franchise with an office in the area. He is young and ambitious, but has little experience in Cancun real estate sales and even much less experience in doing business in Mexico. So he opted to train and work with a major company. He said he felt the training was good, but then he commented something to me that I could not believe. I had mentioned that I would be glad to share information on my listings so he can help me promote them, and that I would be glad to help promote any of his listings. In our professional association, A.M.P.I. (Mexican Association of Real Estate Professionals), this is the ideato share properties, so we may better service our clients.

Well, I was surprised when he told me that in his training, they taught that he should always try to promote their own company s listings. Only as last resort should they promote other broker s listings. And this big company is even a member of our association.

So, how does that affect you Well, if you are working with a broker that only shows you what they have listed, you are certainly missing out on other opportunities that could even be better ones. Your broker should not sell you what they want you to buy. They should help you find what you want.

So getting back to client or customer..don t you want to be a client

"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. Mexico Real Estate Degree & Professional Identificacion Number S.E.P. #5978657. He is the current president of TOPmexicorealestate

Lake Chapala real estate area to benefit from new tourism development plans

Thomas Lloyd - Mexico Broker Referral Program (Top Mexico Real Estate) — Tue, 24 Nov 2009 09:45:26 -0600

Tourism sector development is a key factor in the development of the real estate market in Mexico, and Lake Chapala Real Estate is no exception. Tourist development means more infrastructure, more services, and more economic movement to support a higher quality of life. The Lake Chapala Real Estate area is currently a part of a state government program to open up undeveloped tourist potential in the area.

The Secretariat of Tourism of the State of Jalisco (SETUJAL),together with the support of the National Fund for Promoting Tourism (FONATUR) is working on an integral program, called the Regional Program for Tourism Development in various parts of the state, including the Lake Chapala region. In Chapala On July 23^rd and 24^th FONATUR held two workshops for strategic planning, in which several representatives were present from both FONATUR and SETUJAL. The general objective of this program is to promote an organized and sustainable development of tourism-sector activity in the area, responding to needs in the market and the expectations of the population. The program will establish strategies for action and investment in the short, medium and long term which will contribute to the implementation of integrated tourism-related projects and sustainable regional development.

The workshops mentioned had the purpose of getting feed-back from the experience of participants, among which there were officials from all three levels of government, members of the State Congress, scholars, commentators, and service providers for the tourism industry in the area. Each of these shared their knowledge and experience in different work groups, in which they evaluated and built on a diagnosis of tourism, the environment, infrastructure and social development.

FONATUR’s objective in this program is to create an organized plan for the entire region, including the Ribera de Chapala – and the main attraction of this region is Lake Chapala. The project would protect wetlands and develop potential tourism growth in the region. SETUJAL is also carrying projects throughout the state of Jalisco with FONATUR’s support, including one in the Tequila region (the place where the famous Mexican liquor originates), and one in the region of San Juan de los Lagos, which have just been approved by the state.

These projects, along with the one in Chapala, show that the state government of Jalisco is concerned with and taking action to tap in on undeveloped tourism potential, and develop the areas in a sustainable way. The government will continue working through SETUJAL with the cooperation of FONATUR. Lake Chapala Real Estate, which is already a thriving market, will only benefit from a structured and organized development plan.

Tulum's Highway Toward Development

Thomas Lloyd - Mexico Broker Referral Program (Top Mexico Real Estate) — Mon, 23 Nov 2009 10:01:45 -0600

In the past five months Tulum real estate owners, the hotel industry, service providers, travelers, people who live year round in the Riviera Maya region and visitors have all noticed a big change The Mayan Riviera highway has been improved considerably with an expansion to 4 lanes and overpasses in Puerto Aventuras, Akumal, Bahia Principe resort, Chemuyil and Xel-ha Many of these bridges are nearly 90% in completion and should be ready in a matter of weeks.

People who have not been in the region lately will have a pleasent surprise to find their driving time from Playa de Carmen to Tulum be reduced by at least 20 minutes NO “topes”! Topes are speed bumps and are very common on the roads throughtout all of Mexico Intersections can represent very dangerous situations on any highway so the construction of these new bridges along this Mexican Caribbean coastal highway has been welcomed by many communities in the region Car and pedestrian accidents have already seen immediate improvements as these incidences have been reduced drastically in only a few months.

On a separate note,the southbound section is being covered with an asphalt layer to prevent sliding when wet and therefore making it safer Besides reducing the number of accidents the new coat on the road extends the life of the highway Hopefully the same treatment will apply to the Northbound

The reduced travel time and accessibility are improving property values all along the region but more so in Tulum This small town of on the southern edge of the riviera maya is poised to boom when the market gains confidence again Beautiful beaches, pyramids and cultural history, international visitors, a major airport on the planning board and government investment into the future growth You would expect to see hundreds of condos, single family homes, golf courses and shopping centers to bring the attention of the Mexico infrastructure investors But no, the inventory is extremely low Buyers today need to venture out a little, risk their real estate purchases in areas that are far from the Tulum beachfront property options, in neighborhoods where homes have no restrictions or control on the quality or style of structures that might be constructed next to your investmentOn the other hand, there is one new project which is attracting attention for the points mentioned above If you can't find condos on the beach, then people always search for properties to be as close as possible and within walking distance Aldea Zama in Tulum is stacking up points on various factors that make your investment create positive returns here in the Mexico real estate market such as; Low inventory, little competition, strong regional infrasture investment, beautiful beaches, easy accesibility

These five bridges were built in a very short time span in 2009.TheHighway 307 from Cancun to Chetumal will be completed in 2010.Most of you have seen Playa del Carmen break records as the fastest growing community in Latin America Would you bet that Tulum is going to repeat Is Aldea Zama in the right place at the right time

Playa del Carmen AMPI Chapter Elects New Board

Thomas Lloyd - Mexico Broker Referral Program (Top Mexico Real Estate) — Fri, 20 Nov 2009 09:36:04 -0600

The Playa del Carmen real estate market's AMPI association elects a new board for the coming term of 2009 – 2011. The AMPI Riviera Maya chapter spent the morning casting and counting votes to choose a new president and committees. AMPI, with over 4,000 members nationwide is represented in all regions of the Mexico real estate market with just over 50 chapters The association has amongst its goals the continuous training of its members, the encouragement of following a guide of regulations and ethics for members and various other objectives

The new board of directors were chosen as follows;

President Wilberth Gutierrez

Secretary Enriqo Dozza

Treasurer Ulla Meihbohm

Committe of Honor and Justice Teresa Gutierrez Thomas Lloyd Jorge Penkoff

Committee of Vigilance Enrique Dominguez Ruben Rios Maricarmen Domani

The Mexico Real Estate Closing Process

Thomas Lloyd - Mexico Broker Referral Program (Top Mexico Real Estate) — Thu, 19 Nov 2009 09:36:48 -0600

So, you have found your Mexico real estate propertyOr in my case, you have found a Yucatan real estate property, we have negotiated and signed a contract, you have paid your Mexico earnest moneydeposit and contracted with a notario/attorney to handle your closing. You have decided to either utilize the Fideicomiso, corporation or both. Your attorney/notario has copies of your passport, visa, the contract, and perhaps a POA from you to sign on your behalf.

The ball is now in your attorney's court to prepare all the necessary documentation for closing. This documentation includes checking to see that there are no debts or liens against the Mexico property; that the taxes are paid, the meets and bounds descriptions are correct, title is clear, the property is in the name of the seller listed in your contract, order the permiso for your Mexico bank trust(Fideicomiso) and/or create your Foreign Owned Mexican Corporation.

Typical closing time from signing the contract to actual transfer of title is a process of 4-6 weeks. If there are problems with the title or meets and bounds it may take longer. Usually the “Offer to Buy” purchase contract provides for an automatic extension of 90 days to acquire proper documents if there is a problem. Should the documentation problem take longer to rectify, the seller and buyer will need to sign a contract to amend the closing date.

Most foreign buyers wire the proceeds for closing to the Mexico real estate agent's earnest money account a few days prior to closing. If the Seller wishes to be paid in pesos, the realtor exchanges the proceeds into pesos on the day before closing and orders certified checks or cash to pay the seller and the notario. The realtor issues a final closing statement for review by the seller, buyer, agents, attorneys, and bank the day prior to closing.

The Mexico notary public will provide the buyer with a copy of certified escrituras at closing, after all signatures are collected. Afterwards, the notario will send the new escrituras to the office of the Catastro for recording of the new owner and title. The Catastro will then send the newly recorded title either back to the notario, the buyer, or the buyer's agent or accountant. The Office of the Catastro is notoriously slow. It is not unusual to wait many months for the new escrituras.

The offices of Catastro in the states of Yucat n and Quintana Roo are in the process of moving all the title and property tax information from paper files to electronic files that will be digitalized and stored electronically. This process has caused additional delays in receiving new title documents from the Catastro.

Second Chance in the Playa del Carmen Real Estate Market

Thomas Lloyd - Mexico Broker Referral Program (Top Mexico Real Estate) — Wed, 18 Nov 2009 09:40:05 -0600

The Playa del Carmen real estate market has had some of the world's most interesting growth rates and fascinating samples of regional trends During the 1990's the little village was known as the pier town where you grabbed the ferry to get to Cozumel

It was not the destination, but more the community on the road towards the destination This soon changed though, people began to notice its beaches and the community.European backpackers began frequenting the area and the 5th avenue began to make a name for itself. Hotels and investors began to notice quite quickly the potential of the area Hotel room inventories grew from 10,000 units up to 15,000 – 20,000 Today, the Riviera Maya hotels have more rooms than Cancun With the tremendous growth in various Playa del Carmen industries, the populaton boom began and the real estate market began taking off

Playa del Carmen over the past five years, has been some of Mexico's strongest appreciation markets with returns in the double digits Many investors would purchase Mexico pre construction condo units and sell them 8 or 12 months later with 30% or more appreciation It was a boom all over the coast being witnessed during the first years of the 2000 decade.In the middle of this decade, the comments “I should have bought that property 2 years ago” were quite common These observations from the buying market in 2006-2008 were also accompanied by a decline on the appreciation rates Each year, as the price per square meter crept upwards, the rate of appreciation began losing some steam

2008 and summer of 2009 brought a unique occurence to this regional marketplace.The world economic recession has brought its effects onto the Playa del Carmen real estate market and in the Mexico real estate industry The appreciation rates have flattened and have begun to drop Large amounts NO,but very interesting amounts Some people see this as a half empty glass of water but the current scenario does bring about some fantastic opportunities for the smart investor In fact, there are some quite interesting investment alternatives that could be reviewed as an even healthier market for investment purposes than than the investment environment originally witnessed during the beginning of the years 2000 Let me explain

At the beginning of the Great Appreciation Boom of Playa del Carmen, there were still many risks in the market, there was the risk of new developers, risk of the reaction of the buying market, risk of unknown area development. Today, investors have first hand, regional history data The market absorption and projections are based more on history facts rather than the guessing game or correlating future results based on similar marketplaces in other regions Risks within investments, if purchasing finished products,have been reduced by the knowledge of purchasing a finished product versus the unknown results investing within a new construction Reduction of risks by knowing which neighborhoods were successfully developed and which neighborhoods have not been accepted by the buyers Also, the investor is able to measure how continuous of a demand the Playa del Carmen has reacted over several years of construction and absorption cycles These first hand facts give you and your consultant better data to manage your investments and increase your probabilities of strong returns

The probabilities of continued long term growth are strong in favor of the real estate investor when purchasing properties in the region of Playa del Carmen Obviously there is a short term downturn But that is what this entire article is discussing This fall of 2009 is presenting some incredible and unique real estate opportunities that are not common and which allows many people the “Second Chance ” to buy into the market and ride the wave of appreciation. Contact us here at Lloyd's Real Estate to learn more on how to buy real estate in Mexico and how to apply some strategies when acquiring land in Mexico

Cozumel Real Estate Updates in the News

Thomas Lloyd - Mexico Broker Referral Program (Top Mexico Real Estate) — Tue, 17 Nov 2009 10:09:14 -0600

The Cozumel real estate market is effected by several factors which include amongst many others, hotel occupancy rates, the ecological environment of the island, and the cruise boats that visit the piers from this Mexican Caribbean islandBelow are short updates on activities this past month that are effecting the island but also the Mexico real estate market as a whole.

During the Easter vacations, the hotel occupancy rates arrived to nearly 80% Currently the island has approximately 3,522 units in inventory for the hotel industry People comment that the world economic situation has reduced the normal rates but also pointed out that with the gain of the dollar against the peso, this has regained opportunities given the fact that tourists have more pesos to spend It is estimated that each hotel room guest spends approximately $100 usd while a cruise ship tourist spends nearly $80 usd

Another update is in regards to the project of the recuperation of the beaches in Cancun, Playa del Carmen and the Cozumel Island The mayor of the municipality met withthe governor this month to advise that the island is not against the project of restoration of the beaches, but is searching for an alternative area where they plan to extract the sands The current project outlines an area on the norther part of Cozumel where they plan to dig up fresh sand The project calls for the restoration of 7 million cubic meters of sand to be sucked up from the ocean floor off of the island and blown back to the beaches throughout the cities of Quintana Roo

The news that is on front page throughout many parts of the world is the virus outbreak called the swine flu Here on the island, and in the entire state of Quintana Roo, there have been no reports of anyone having been infected The federal government has been aggressive on their response and their actions to prevent further spread of this flu and have closed all schools throughout the entire country until May 6th Cruise ships coming to Cozumel have also been postponed for the immediate future until the federal Secretary of Health gives the green flag They expect the ports to be open if all goes well within 7 – 14 days At the same time, as the government has taken correct steps in the prevention of the spread of the virus, the local, state, and federal government are already preparing action plans and marketing campaigns to be initiated to support the re surge of the important tourist industries

What is a Mexico Notary Public and What Are Its Roles

Thomas Lloyd - Mexico Broker Referral Program (Top Mexico Real Estate) — Fri, 13 Nov 2009 10:19:05 -0600

A Mexico notary public is an attorney that specializes in real property law and is specifically licensed by the state to legally transfer Mexico real estate property from one party to another. In my previous post in our Mexico real estate blog, I talked about the how to buy real estate in Yucatan One of the most important roles during the transaction are that of the notaries The number of Mexico notary public licenses is limited by the state. An attorney who wishes to become a Mexico notary must first attend classes and then pass a board. It is a demanding process and many do not make the cut.

For those few attorneys that do pass the test and are eligible to become a practicing Mexico notary public, they enter a waiting list for the next available notary license from the state. The wait is usually many years. Frequently, a law firm will have one or two junior partners who have completed the notario board exam and can assume the position of notario for the firm. A Mexico notary public license is extremely valuable and dearly guarded by the firms that have them.

The notary public is ultimately responsible to ensure that a clean, merchantable title is passed from the Seller to the Buyer, that the property taxes, transfer fees/taxes and any Mexico capital gains taxes are paid at or prior to closing. They are also responsible to properly record the transaction in their personal books and with the office of the Catastro (Mexico Public Registry). Should a notary public fail to discharge their responsibilities in an honest, fair and transparent manner, they could lose their notary license.

Choosing a notary public is usually not difficult and your Mexico real estate agent will be able to suggest a good notary that is versed in transferring titles to foreign buyers. You may also choose to work with an attorney who is not actually a notary but is connected to a notary. Frequently, these attorneys have passed their board to become a notary and are waiting their turn. In the meantime, they are skilled at checking titles, ordering Fideicomisos and setting up corporations.

If you are setting up a corporation, it is a good idea to find an attorney/Mexico notary public that understands the mechanisms of the proper corporation to best execute your business plan and objectives. Having your corporation construed and worded properly the first time will save money, time and frustration.

Notary Public fees will vary from one firm to another. Many fees are based upon the amount of the operation (appraised value of the property). Taxes and transfer fees are based upon this appraised value.

Frequently, the appraised value of the property is much less than the actual purchase price. If you wish to record your deal at the actual purchase price, that is fine, but be prepared to pay higher closing costs and, perhaps, you will be expected to pay the additional capital gains tax that the Seller will incur due to the buyer's desire to close the deal at the actual purchase price instead of the appraised value.

Thinking of buying a place now for a future Mexico retirement

Thomas Lloyd - Mexico Broker Referral Program (Top Mexico Real Estate) — Thu, 12 Nov 2009 09:30:22 -0600

Not quite ready for that Mexico retirement But if you re planning your future in a sunny place, now is the time to get the ball rolling. Join the multitude of buyers doing just that.

Mexico Condo & Pre-construction Opportunities

In the last few years the variety of options for second homes and retirement homes in the Cancun real estate region and the Riviera Maya area has increased to enormous proportions. This boom in the Cancun condo market and the pre-construction opportunities provides options for different lifestyles and tastes. And with more options available, developers are becoming more competitive, offering more amenities and better finishings.

This competitive market has also opened the door for more flexible payment plans. Over the past few years, most developers throughtout the Mexico real estate industry required an initial down payment, maybe 25-30% and then the balance paid in equal installments over the construction period. This scenario made it difficult (and undesirable) for most buyers.

Finally some savvy developers are offering more accessible plans, with an initial down payment and the balance upon delivery and title. With this type of payment plan, buyers can apply for long term financing. There are now many banks and Mexico mortgage companies offering financing for US and Canadian citizens.

And now with the credit problems in the US, many developers are rolling back prices to spur sales. Since there are lots of options available for buyers, they are starting to realize they need to be competitive with pricing. Because of the devaluation of the peso, many are switching their pricing schedules to pesos, making it even more attractive for US buyers. With the currently high Mexico exchange rates, buyers can get more for their dollars in this market.

Nature, a key element in Puerto Vallarta real estate, protected as residents and visitors join forces to protect sea turtles

Thomas Lloyd - Mexico Broker Referral Program (Top Mexico Real Estate) — Wed, 11 Nov 2009 09:36:09 -0600

Puerto Vallarta real estate always offers many, diverse activities for residents of the city. One of the activities which foreign visitors and residents alike enjoy is caring for the natural beauty of the area – one of Puerto Vallarta real estate’s most important attractions. During the following months there will be a focus on protecting newly born sea turtles.

This month the nesting season for the Olive Ridley Turtle – the most common sea turtle in the Puerto Vallarta area – begins; the season lasts until November. The natural nesting cycle of the turtles includes abandoning the eggs for the 50 to 60 day incubation period, when the eggs hatch, and the newly-born turtles instinctively head for the sea. While it is a natural part of the process that many are taken by predators, including seagulls, it is important to ensure that a large number arrive safely to the sea, since these turtles are a threatened species.

In Puerto Vallarta, there are various organizations devoted to the protection of these turtles, which provide opportunities for volunteers to take newly born sea turtles to the edge of the water and help increase their chances of survival. The programs not only help prevent loss due to natural predators, but also make sure that swimming and other potentially disruptive sea activities are put on hold during the time that the turtles go to sea. The volunteers are organized, with a line drawn at the edge of the ocean so they don’t accidentally step on the turtles others are releasing.

This month volunteers from Puerto Vallarta itself, as well as from numerous other countries, such as Korea, Germany, Spain, France, Belgium, the United States, Israel and Finland, have begun to arrive to beaches in Puerto Vallarta and the surrounding area to help in this important process.

Just as nature provides a key element in the attractiveness of Puerto Vallarta real estate, residents and visitors alike do their part in protecting this threatened species, thus ensuring that its existence continues to add to Puerto Vallarta’s beauty.

Puerto Vallarta Real Estate to Benefit from the 2011 Pan-American Games

Thomas Lloyd - Mexico Broker Referral Program (Top Mexico Real Estate) — Tue, 10 Nov 2009 09:36:46 -0600

Puerto Vallarta is a large multifaceted city. For this reason, Puerto Vallarta real estate offers a large variety of activities and events, appealing to just about anybody. Puerto Vallarta real estate is continuously benefited by infrastructure improvement and investments in the city tourist industry, and the next few years will see further investments for the upcoming Pan-American Games.

Puerto Vallarta has officially been named a secondary host for the 2011 Pan-American Games in Guadalajara. This role was made official on June 25^th with the signing of a contract between the municipal government and the committee in charge of the games (COPAG), establishing the responsibilities of both parties.

Puerto Vallarta will host the sail, triathlon, open water swimming and beach volleyball competitions. In order to host the final activity, a new beach volleyball stadium, with capacity for 5000 spectators, will be opened in Puerto Vallarta. The new stadium will be located in the Agustín Flores Contreras sports complex. While facilities for the other competitions are already in place in Puerto Vallarta’s well established water-sport facilities, Puerto Vallarta will also provide the infrastructure for the celebrations of each event.

In the case of open-water swimming a route which runs along the waterfront will be used, so the general public will be able to have a panoramic view of the competition. The triathlon will be held in the marina area. The sailing competition requires only open sea.

Other secondary host cities for games are Boca Laguna, Chapala, which will host waterskiing, Tapalpa, which will host mountain biking, Lagos de Moreno, which will host baseball, and Ciudad Guzmán, which will host rowing and canoeing.

After Guadalajara, Puerto Vallarta will be the municipality most benefited by the 2011 Pan-American Games. The city will receive 300 athletes, plus staff and representatives; just as importantly, the city will continue to receive national and international attention and promotion through organizations such as Global Sport – part of the International Olympic Committee – which will be selling 3 day visit packages for Puerto Vallarta. The promotion and improvements will add to the already thriving water-sports culture and tourist industry that Puerto Vallarta real estate offers to residents and potential buyers. Also, anyone water-sports fan will enjoy the benefit of watching some of the finest international athletes compete in these events.

The agreement which formalized the commitment was signed by various dignitaries, including Puerto Vallarta’s Mayor and Javier Bravo, the president of COPAG, Alfonso Petersen. “There is a lot of work to be done,” said the mayor of Guadalajara; “Puerto Vallarta will host four competitions, and each one has special necessities with regard to investment and infrastructure,” adding that Guadalajara intended to support Puerto Vallarta in these responsibilities.

The 2011 Pan-American Games will continue to add to an already-thriving water-sport culture, and acknowledge the city with this well-deserved role. Property buyers interested in a beachfront city should consider the benefits of Puerto Vallarta real estate. Besides the 2011 Pan-American Games, Puerto Vallarta real estate offers a full range of beachfront events and activities. For more information about life in Puerto Vallarta.

Tips on How to Begin a Property Search in Mexico

Thomas Lloyd - Mexico Broker Referral Program (Top Mexico Real Estate) — Mon, 09 Nov 2009 10:18:34 -0600

I remember when I first started looking for property for myself down in Mexico. I will admit that I was pretty confident and made…quite a few mistakes mainly by trying to do various things on my own I was a strong believer in my own investigative abilities, I knew how to negotiate in Mexico, and I had seen my good share of various types of business contracts in Latin America But soon, after my solo property search adventures, several late nights of worrying about my money deposits, and various headaches from that first dreadful Mexico real estate purchase experience, I suddenly remembered that good old simple advise that my father and some business teachers had shared with me, “DONT STUMBLE OVER YOUR OWN PRIDE…ALWAYS SURROUND YOURSELF AND LISTEN TO PEOPLE WITH EXPERIENCE”.

When I started looking for properties down in Mexico. I started on the internet. Back then, I thought that when a property was listed on a web page in Mexico, the only Mexico real estate agent who could deal with that property was the listing agent that appeared on the web site! So here I was, surfing the internet, calling 5 different web sites, sending 8 different emails trying to collect information and data on various Mexico real estate options Some agents called back, some never responded, I had messages from Juan, messages from John, incorrect data from Pablo, it became complicated quite quickly.

OK, so what do the EXPERIENCED Mexico real estate experts recommend

Linda Neil with 35 years of experience in the La Paz real estate market suggests -

Her article Purchasing Your Mexico Dream Home states, “Step one in your property search is to find a Mexico Real estate agent who will represent you the buyer…an AMPI member…a buyer agent…interview….ask for credentials”

TIP 1) Interview and find a Mexico real estate agent who will represent you the buyer Most real estate transactions have two agents involved One to represent the interests of the selling party, the second to represent the interests of the buying party

Continuing with my adventure during my first experience in searching for real estate in Mexico was the investigation phase I finally was able to identify about 7 properties that were rescued from my mess on my desk from my first phase of investigation on the internet These seven properties looked as if they could fill the criteria points I was searching So I called back to each of these different offices for further information I did not think it would be “business smart” to tell the real estate offices that I was also collecting property information from other agents I was searching for the best prices and thought the best way is to have each send me their best options they had in their office I did not know that agents in AMPI work together sharing all information amongst their database.I was doing my own analysis, collecting my own information, preparing my own comparison tables.Watch out Mexico, with my analysis you wont know what hit you when I get off of that plane

What do THE Experts and Mexico real estate blogs suggest on solo investigations.

Mitch Keenan with over 15 years experience in the Yucatan real estate region adds the following.Buying Property in the Yucatan Market article lists the following advise”A good real estate agent will build a solid relationship with their clients, helping them with a range of issues that the foreign buyer would never be aware about” (History and credibility of the builder, the neighborhood and its safety issues, the price trends of similar properties throughout the market) “If you are out of town and even more so if you are out of the country, how can you expect to study the many factors and history that goes into a good market opinion on the value of a property You need a point man on the ground to look out for your interests.”

TIP 2) Work as a team with your buyer agent If you find a property on the internet, share the property with your buyers agent, let him investigate, let him give his in put and his knowledge,ask him to take pictures, ask him to investigate the legal status. Even though it is a listing from another agent, your buyers agent can call up the listing agent on your behalf, investigate the property professionally before your trip to Mexico saving you much time and much money.

In my first round with property searching, I was excited to physically visit and see with my own eyes the various options I had selected.A good start early in the morning sounded like a good plan for my first appointment I arrived sharp and a few minutes before with all the excitement of the full day of activities that awaited me The agreed and confirmed hour to meet had arrived and the agent had yet to show up.15 minutes later, no one yet 30 minutes ahhh finally.But I either had to rush quickly to see this first option or else call up my second appointment and tell him I am was running late I rushed through the tour, took some quick notes and scribbles, forgot a couple of questions and off I went to the next visit Second visit went ok, but then trying to find my third house, the street numbers jumped from 104 up to 188 What happened to 122 This is more common in Mexico than you can ever imagine of inaccurate street addresses So after driving back and forth about 5 times, I decided to scratch that option completely off of the list An hour later, I have an agent who is not happy asking why I stood him up With only three hours into operation “Mexico property search” I have a splitting headache and am ready to go to the beach and call it quits

Once again, lets see what the good old EXPERIENCED PROFESSIONALS sayWhat advise does a TOPMexicoRealEstate expert Jim Scherrel have on this topic

Jim Scherrel from the Puerto Vallarta real estate market points out the following items that your buyer representative will deliver when working with you as a team His article Mexico Buyers Agent How Important are Their Services lists the following, “your buyer representative will help you by a) unbiased and shows all properties available in the market b) thoroughly researches properties pros and cons c) conducts a comparative market analysis amongst many other activities”

TIP 3) Don't waste valuable time trying to coordinate property visit meetings in a foreign country.

people arrive late, fighting to find properties on unknown streets, focus your time on collecting data, taking photos, organizing and evaluating Use your time wisely.

Its the simple advise that many times can be the most valuable It applies in Mexico too “Surround yourself with Experience” and enjoy Buying property here can be exciting, fun, and profitable

Tips on How to Begin a Property Search in Mexicoyucatan real estate , purchase , Puerto Vallarta Real Estate , mexico real estate agent , Mexico Real Estate , la paz real estate , investing , buying

Thomas Lloyd - Mexico Broker Referral Program (Top Mexico Real Estate) — Mon, 09 Nov 2009 10:17:37 -0600

OK, so what do the EXPERIENCED Mexico real estate experts recommend

Linda Neil with 35 years of experience in the La Paz real estate market suggests -

What do THE Experts and Mexico real estate blogs suggest on solo investigations.

Once again, lets see what the good old EXPERIENCED PROFESSIONALS sayWhat advise does a TOPMexicoRealEstate expert Jim Scherrel have on this topic

TIP 3) Don't waste valuable time trying to coordinate property visit meetings in a foreign country.

people arrive late, fighting to find properties on unknown streets, focus your time on collecting data, taking photos, organizing and evaluating Use your time wisely.

Its the simple advise that many times can be the most valuable It applies in Mexico too “Surround yourself with Experience” and enjoy Buying property here can be exciting, fun, and profitable

Mexico Earnest Money; Would You Give Thousands of Dollars to a Stranger in Another Country

Thomas Lloyd - Mexico Broker Referral Program (Top Mexico Real Estate) — Fri, 06 Nov 2009 09:54:36 -0600

Find out how to protect your good faith deposit and Mexico Earnest Money.

Your ready to buy your piece of paradise, but handing money over to someone you don t know in a foreign country is a scary proposition. So how do you protect yourself from a fraudulent situation

Purchasing property in the Cancun real estate market and even in all regions of the Mexico real estate market is a quite different process than in many other countries. And when it comes to handing over deposit money, many buyers make the mistake of leaving their good judgment at home; thinking this is Mexico and this is how business is done here.

Most of those trustworthy buyers have purchased without problem, but there is always a risk. It is not necessary to have a Mexico Real Estate license to sell propeties So it is important to know who you are dealing with and how to protect your interests.

Mexico Escrow Services

Although not widely used in Mexico, escrow services are available through well know US companies and should be your first choice. There is a fee, but the protection it offers is well worth the extra expense.

Escrow is mostly used for re-sales but the property owner must be in agreement This can sometimes be an obstacle as some Mexican owners do not understand the concept of escrow. In most cases the listing broker can convince the owner if it is properly presented.

Mexico Broker

This would be the next option only if the property owner will not accept escrow deposit. Either the listing broker or the buyer s broker holds the deposit. This is more of a risk, so ask for references and DO CHECK THEM.

Mexico Developer

Most developers will not accept escrow deposits as they use incoming funds for construction. Deposits may be refundable or non-refundable (before the contract is signed) so do ask. It is important to work with a broker that you trust to present you with projects by developers with a proven track record.

The Mexico Property owner

It is customary for the initial deposit to go directly to the owner in the case of a re-sale. This is very risky and I do not recommend this situation. If unavoidable, do so in conjunction with your OWN Mexico real estate lawyer, following his advice so he can make sure you are legally protected.

Too Little Too Late Mexico Tourism 2009

Thomas Lloyd - Mexico Broker Referral Program (Top Mexico Real Estate) — Thu, 05 Nov 2009 09:51:43 -0600

This summer I have been seeing news stories and large amount of articles of the dangers and risks of coming to Mexico to visit or to vacation The majority of the stories have spoken of the entire country of Mexico in general, and unfortunately did not speak of regions or neighborhoods where the incidences were occurring whether it was some neighborhood of Mexico City, or some region of the state of Baja California

I also noted the misfortuneate timing of these news events being in the summer time which is basicallyeffecting Mexico's tourist high season and which is also effecting my area of work, the Mexico real estate industryLately though, I have starting to notice some articles that are becoming aware of the spilling over effects and have started to correct or attempt to report the data with a little more investigation and detail My question, “Is this too little too late”

This morning as I read through various articles I came across one that caught my attention inside of the Wall Street JournalThis article reported that many of the Mexican resort cities that are more than 1,300 miles away from the violent clashes, are witnessing cancellations and having their businesses effectedThe article is more complete by reporting more details so travellers are not making travelling and cancellation decisions based on partial informationThe link to this article http://online.wsj.com/article/SB123931839488506787.html#articleTabs=article

One of the quotes which I found interesting,

” Despite the travel alert, “we are not advising people not to go to Mexico,” says Heide Bronke Fulton, a State Department spokeswoman. She adds that the main areas of concern are cities and towns near the U.S. border. Travel alerts, which can caution against everything from cyclone season to terrorism threats, are far less severe than the State Department's “warnings,” in place for countries like Iraq and Sudan, which essentially advise against traveling to a country altogether. ”

After speaking with several visitors down here in Mexico this past week I realized the importance of passing this information and these types of articles and updates through channels such as Mexico real estate blogs and other mediums on the Internet The visitors from up north advised that the news being heard on the television and many news sources is quite harsh “Very bad and negative People and my family have come to me and asked me to cancel my trips down to Mexico I had to pull out a map and show them where I was going and where the problem areas were occurring” Even the Mexico tourism department has become very alarmed at the generalization of the reports up north and their effect on their economy They have published a map on the internet to help visitors understand the locations http://mexico-update.com/index.jsp

Unfortunately, the messages of pinpointing locations and distances may have missed the high season period The Mexico tourist department is rushing trying to correct this mishap It is April, a good portion of the high season has already been incorrectly effectedThe year for tourism in Mexico was starting strong, but now several hotels and businesses are now concerned in the cancellations that have occurredLets hope that this other message continues to be transmitted effectively to help recover some of the drop in reservations and travel plans for the rest of the year

Q: Do you Pay Mexico Capital Gains Taxes in Your Home Country Too

Thomas Lloyd - Mexico Broker Referral Program (Top Mexico Real Estate) — Wed, 04 Nov 2009 11:02:14 -0600

A couple of weeks ago, we had an interesting question be sent to our panel of experts The seller of a property wrote to ask,

Q. “What happens when I make some profit on the sale of Mexico real estate, we paid the Mexico capital gains tax, do we still need to pay taxes on the capital Gains in my home country too

A. Linda Neil from Linda Neil Properties in the La Paz real estate region advises the following “If you have property in a Mexican bank trust it is necessary to file a form annually with the US IRS and, yes, the profits or losses from the sale of your Mexican property must be declared on your US return. It is important, however, to obtain the tax declaration made in Mexico to be presented with your US return to obtain a credit or deduction for the Mexican tax paid.”

A. Ivan Castillo regional director and practicing Mexico real estate lawyer from Stewart Title answers” I m not an expert on taxes out of Mexico, nevertheless I don t think there is double taxation. If you pay Capital Gains in M xico and it is properly documented, the receipts can be used in the US in order to avoid paying taxes again.”

A. Cozumel Capital broker/owner Rita Sheese who works in the Cozumel real estate market outlines the following about these taxes “If a property in Mexico is sold, the capital gain realized by the seller (whatever nationality) is subject to Mexican capital gains tax. Then, the American seller when declaring that income in the states, would also declare the taxes that were already paid on this capital gain in Mexico Formal tax treaties exist between the US and Mexico to avoid the taxpayer paying double tribute, and so what you have already paid in Mexico will essentially be deductable from what is due in terms of US capital gains tax.

For more reading material click here Mexico Real Estate Questions and Answers

Or to read another Question to the Experts click hereMexico Bank Trust

Mexico Real Estate; When to Use a Bank Trust and When to Use a Mexico Corporation to Hold Title

Thomas Lloyd - Mexico Broker Referral Program (Top Mexico Real Estate) — Tue, 03 Nov 2009 12:13:57 -0600

THE MEXICO REAL ESTATE BUYING PROCESS PART II (Fideicomiso or FOMC)

This is a continuation of my previous post- Buying in The Yucatan Real Estate Market

While touring Yucatan properties with your agent, you will want to engage in a conversation about Fideicomisos and FOMC (Foreign Owned Mexican Corporations) to determine which is the best vehicle for you to utilize to hold title. Both have advantages and disadvantages.

The Fideicomiso (bank trust) is a trust agreement that you establish with a bank to hold title of the property with you (you and the bank are both named in the title documents). The bank has a fiduciary responsibility to represent your interest in the property.

Advantages of the Fideicomiso:

* The Fideicomiso gives you the rights and the vehicle to hold the property in perpetuity. It is a 50-year trust agreement that is renewable every 50 years by you or your heirs.

* You may also transfer your rights in the Fideicomiso to another foreign buyer

* You may rent, sell, remodel or dismantle the improvements on the property.

* Your heirs may inherit the rights to the Fideicomiso, effectively by-passing probate, should you depart without a proper will

* There are tax advantages pertaining to Mexico capital gains taxes when you sell

* The Fideicomiso is easy to maintain by paying the annual fee to the bank

If the title papers, property dimensions and corresponding documentation are not in perfect agreement, the bank will not issue the Fideicomiso. A rectification of the property measurements will be required We will discuss this in a moment.

The main disadvantage of the Fideicomiso is that it is restricted to a property of NO MORE THAN 2000 square meters.

Note: There are exceptions and you can request a permiso for acquiring a Fideicomiso that allows for a property larger than 2000 square meters. This is a complicated process requiring an investment plan, time line, inspections, architectural renderings, business plan and plenty of governmental red tape. The exception is designed for an investor that plans to make a significant investment in the property.

Another disadvantage of the Fideicomiso is that it is limited to one specific property. Sometimes you can put two adjoining properties into the same Fideicomiso. But, generally speaking, the Fideicomiso is only designed for an individual property.

The FOMC (Foreign Owned Mexican Corporation) is a vehicle that allows foreigners to open a business and work in Mexico. The corporation is a Mexican entity, and as such, has the right to hold title to real estate. An attorney or Mexico notario can help to set up your corporation It is important to know what your goals are in respect to the property, business and type of Mexico real estate investment prior to setting up the corporation.

Creating the corporation requires a minimum of two individuals (stockholders), of any nationality, that are at least 18 years of age. One of the stockholders will be required to be the managing partner. The managing partner will be required to acquire and maintain a Mexico FM-3 visa. The visa must be renewed every year. Additionally, the corporation is required to make monthly reports to HACIENDA (the Mexican Department of the Treasury) reporting income and expenditures. The reporting needs to be done by a certified accountant.

Advantages of the FOMC:

* Allows for the purchase of properties larger than 2000 square meters

* No limit to the number of properties it may own

* Allows for one or more of the stockholders to legally live and work in Mexico year round.

Disadvantages of the FOMC:

* The corporation requires more hands on attention than the Fideicomiso.

* Does not have the ability to avoid capital gains taxes when it sells property

* Requires a managing partner with an FM-3 visa

* Monthly reporting of financial activity is required through a certified accountant.

"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. Mexico Real Estate Degree & Professional Identificacion Number S.E.P. #5978657. He is the current president of TOPmexicorealestate

Lake Chapala Real Estate area benefits from stable water levels

Thomas Lloyd - Mexico Broker Referral Program (Top Mexico Real Estate) — Fri, 30 Oct 2009 10:44:35 -0500

For most Americans and Canadians who own a Lake Chapala Real Estate, the late summer and fall seasons are the favorite time to spend in their Chapala or Ajijic homes to enjoy the higher lake levels, and to enjoy the refreshing climate brought by the rainy season. During the rainy season, warm sunny days are balanced by rainy late afternoons, which cool the temperatures.

One of Lake Chapala Real Estate's main attraction is, of course, the lake itself, offering boating activity to the residents of area, and a beautiful view to those living in the towns of Chapala and Ajijic. While the water level was somewhat low in the spring, the good news is that due to recent rainfall, Lake Chapala has maintained the benchmark of 95.83 cm for four straight days, including the 39 cm which it has recovered since June.

Since June 27, when the rainy season in the Lake Chapala Real Estate area started, the lake has been steadily recovering the water to reach its current level. The 39 cm in the water level represent 433 million cubic meters of water volume in the lake.
Lake Chapala has a total capacity of five thousand 664 million cubic meters and is at 71.73% of total capacity, according to the National Water Commission (CONAGUA).

"Mexico's Leading Network of Specialists for Finding and Purchasing Mexican Properties Safely!"

Message of Peace arrives Cozumel Real Estate Community to Spain

Thomas Lloyd - Mexico Broker Referral Program (Top Mexico Real Estate) — Thu, 29 Oct 2009 10:50:54 -0500

We pleased to announce the Cozumel Real Estate area's messenger of peace, "Zamna" arrived in Santander, Spain, on the afternoon of Saturday, October 3. The ship was received with a joyous celebration of about 4500 residents, attended by city officials, thousands of flags waving Peace and especially enjoyed the presence of Angel Garcia Rodriguez, winner of the "Prince of Asturias Award for Peace", who immediately associated himself with the actions taken in Cozumel to promote Peace and announced his interest in the organizing First International Congress for Peace in the Cozumel Real Estate area.

The ship arrived at 5:10 PM, and on the dock of Calderon, Santander, fireworks were heard to greet the trimaran that had sailed across the Atlantic to reach the old world, with the single mission of bringing a message of Peace through the voice of a child from Cozumel, Juan Pablo Tec Chim, who joined the crew, which did not stop ringing the ship's bell to announce his arrival to the homeland of the ship's captain, Vital Alsar.
Led by the Mayor of Santander, Iñigo de la Serna, officials, businessmen and the media gathered in the pier to be part of this story that began in Veracruz, Mexico, and made its way pas the Yucatan Real Estate area, through Cozumel, to Miami Beach Florida, to New York and now finally Santander, Spain; so far the ship has visited three ports in the U.S. and Europe. Meanwhile the spectators listened to the notes of the song composed by the Sergio Esquivel of Yucatan Real Estate area especially for this journey, "The Child, the Sea, Peace and Cozumel."

As soon as "Zamna" landed, the signs of joy were evident and the crew was warmly received by all people, who showed their appreciation fro the commendable work undertaken by the crew who had traveled more than 4 thousand 600 nautical miles during the 70 days that the voyage has lasted since it was launched in Alvarado, Veracruz.

During the welcoming ceremony Iñigo de la Serna brought attention to Cozumel in a special way, acknowledging its effort for peace through actions undertaken by the Mayor, Juan Carlos Gonzalez Hernandez, to appoint the various educational and government institutions in promoting the peace and ensure that Santander and Cozumel will continuously promote harmony.

The mayor said that the city unconditionally supports the actions undertaken by the only island that has been named "Island of Peace" in the world to further promote the value, and he asked his counterparts in the other Spanish ports where "Zamna" will arrive to join this project.
Meanwhile, Vital Alsaro Ramirez, visibly moved by being in his native Santander, expressed his affection for Cozumel and the Mayan culture that motivated him to make this dream real. The operator of the vessel , Manuel Diaz Rubio, excited by the acceptance which "the child, the sea, peace and Cozumel" has received, referred to this island as "a people of peace," who through their actions and their Peace Committee is an example for Mexico and the world.

At the given time Juan Pablo, who now has the responsibility of being the messenger of peace in all the ports of Spain where the boat arrives, said: "Thanks to Santander, Spain, on behalf of the Cozumel, Mexico, the Island of Peace Island; we give thanks for this affectionate greeting. We will take the message of peace to children all over the world."
Once the welcome ceremony was completed, the crowd that attended this event approached 12 years old from Cozumel - ambassador of Peace from Mexico for all the world - to talk to him, to have them take photographs to remember this special day, which was really emotional for those who were witnesses of this episode of the journey for peace.

The community of Santander showed signs of admiration for the global messenger of peace and offered the child congratulations and good wishes on his journey errand, and asked him to take their congratulations to the people of Cozumel for this undertaking, in which the residents of Santander who came to greet "Zamna" participated.

Playa del Carmen Real Estate celebrates 35 years since the creation of Quintana Roo

Thomas Lloyd - Mexico Broker Referral Program (Top Mexico Real Estate) — Wed, 28 Oct 2009 10:39:35 -0500

We celebrated a milestone in the history of Playa del Carmen Real Estate. 35 years ago, the state of Quintana Roo was created in order to facilitate the area's growth towards being one of the world's top tourist and real estate destinations. 35 years later, the Playa del Carmen Real Estate industry, along with the rest of the state, is moving ahead in a clear direction, and remains firm and strong despite adversity.

Although the Playa del Carmen Real Estate boom occurred between 2002 and 2005, the creation of the State of Quintana Roo was an important step towards bringing more visitors, and later international investment to turn a little fishing village into prime real estate destination.

As the state reached 35 years, Quintana Roo and Playa del Carmen remain positioned as a privileged destination with great natural attractions, economic diversity. With a high level of tourism, the state has made progress with a comprehensive and sustainable development.

As part of the celebration of 35 years of existence as a state, various founding state representatives were interviewed about the progress they have seen in Playa del Carmen Quintana Roo. Mario Ramirez Canul said that Quintana Roo, at its 35^th anniversary, continues to show steady and rapid growth as a real estate and tourist destination because of its major attractions, which have earned themselves a worldwide reputation and have generated a large number of jobs and foreign investment for Mexico Real Estate.

Likewise, he indicated that at 35 years, the political moments and world events which have shaped and affected this state must be considered in order to keep moving ahead and continue steering the state in a firm and definite direction.

For his part, Abraham Martinez Ross said Quintana Roo remains a very relaxed state, where peace and harmony prevail among the citizens and their customs and roots have allowed people to maintain a high sense of humanity.

He commented that the state has experienced rapid growth in real estate and accelerated development in healthcare, agriculture, social infrastructure and services which did not exist in the past; this, too, has allowed it to become a leading entity in tourism.

Sebastian Star Pool, explained that Quintana Roo has been characterized by its different regions. Cancun in the north, for example, represents the state's potential, the Playa del Carmen Real Estate area in the center represents its identity and in the south, Chetumal is the political capital. As a result of the distinct characterizations, the state has made giant and firm strides forward.

He noted that Quintana Roo maintains permanent and decisive progress. Thanks to the people's unity has always come out ahead from any adversity.

Gilberto Pastrano Novelo, said that 35 years after its creation, Quintana Roo has established itself as a strong state, and additionally it has developed an impressive real estate industry and a comprehensive system of health, public works and justice that have allowed it to be privileged on a national level.

Tourism on the rise – a good sign for Puerto Vallarta Real Estate

Thomas Lloyd - Mexico Broker Referral Program (Top Mexico Real Estate) — Tue, 27 Oct 2009 10:36:02 -0500

Puerto Vallarta Real Estate slowed down considerably because of the global recession, then by the lull in tourism triggered by the swine flu travel advisory. Although the global economic situation continues, Puerto Vallarta´s resilient charm and beauty are bringing the tourists back again. This is good news for Puerto Vallarta Real Estate, showing that the city’s key industry is resilient and will continue to be strong.

Among the good signs are that hotel occupancy in Puerto Vallarta is rising weekly. This week has seen a 5.7% increase over the last week. Several factors have played a role in this. While tourism has been on an increase throughout Mexico, specific initiatives for this area have also had an impact.

One example of these initiatives is the “Jalisco en Vivo” concert which was held in Puerto Vallarta. The concert, which was planned with the primary goal of rebuilding tourism, attracted a local, national and international audience. Among other factors, this concert helped the effort to slow down and eventually reverse the drop off of tourism; the week before the concert had seen a 14.3% decrease in hotel occupancy, while the weak of the concert felt less of an impact, with an 8.6% decrease. Now, the during the third week after the event, hotel occupancy has increased 5.7%.

There is hope that the initial success of the concert will be repeated on as the concert is aired on T.V. throughout Mexico, Latin America, parts of the U.S. and some places in Europe. The program received strong ratings on Mexican T.V., and the concert should continue to draw tourists’ attention – both Mexican and international - to Puerto Vallarta.

Another program, this time on the state level, is giving free guided tours and excursions from Guadalajara. These program includes 40 destinations of the state’s 11 main tourist destinations (including Puerto Vallarta), offering 120 excursions for more than 5000 tourists. The trips include transportation and guided tours. The program will be promoted in over 60 information booths, and has seen an investment of about 1,200,000 pesos. Although the focus of this program is local tourism, the presence of more tourists will support tourist based businesses in areas entirely dependent on this industry, helping to boost the industry while international tourism continues to rise.

These and other factors are helping tourism in Puerto Vallarta, the city’s main industry, move upward again, and quickly. Those interested in Puerto Vallarta Real Estate will see this as a good sign, as we wait for the global recession to turn around.

Tulum Real Estate Market Delivering Legal Possession of Land

Thomas Lloyd - Mexico Broker Referral Program (Top Mexico Real Estate) — Mon, 26 Oct 2009 11:02:38 -0500

We had a client close on some lots in Tulum last week A new project called Aldea Zama This is an exciting new neighborhood in Tulum because of its' location and of the region

Many of you readers are quite familiar with Cancun and how this city was basically a project that was conceptually designed by the federal organization called FONATUR Success; the city today is nearing 1,000,000 in population and along with being the number one tourist destination, it is also one of Mexico real estate markets best successes.Then south of Cancun, a little fishing village called Playa del Carmen started to grab the attention of many visitors from all over the world Many Europeans, South Americans began to discover this little stepping stone village towards their main destination of the island of Cozumel Playa has had a growth rate that has surpassed Cancun and in the past 7 years has been cited as the fastest growing community in Latin America Some people say they missed the boat on an investment opportunity for Playa..but hold on to your horses, now there is Tulum Mexico. Keep a close investment eye on this spot!

Mexico Beaches are some of the finest in the world and the Tulum beach is definitely one of its' top 5 Population growth potential Some officials are stating and preparing for some serious inflow of people again from Europe, Canada, US, South American and from the Mexican nationals In the new project of Aldea Zama, in the commercial section, several business owners who have current successful businesses on 5th avenue in Playa del Carmen are taking title to their properties in the new “downtown” development of Tulum “Build it, and they will come”.It appears that in Aldea Zama, various Italian business owners appear to have seen the movie and believe in its' quote And from their success on 5th avenue, they have a good knack of identifying these tourist opportunities.The point is that a large quantity of these foreign business men have already reserved their commercial corners and areas within this project Do they know something we should

Back to the Legal status of the properties in Tulum, I was very happy to have my good friend and clients receive their legal title to the property Tulum is absolutely gorgeous withthe beaches, and the opportunity is definitely in the air when you travel to this up and coming little village But, invest with caution, don't over risk with properties that are not properly titled and a promise that such legal rights will come shortly If you live out of country, the amount of money or extra points on return you think you can earn,may very quickly be eaten up by having to pay lawyer's fees to sort through a un-secured title mess and nightmare Surround yourself with Mexico real estate experts and people with experience on representing the buyer When my client received his legal title in the Tulum lot, this was worth celebration I am very bullish about Tulum and am happy to say I have another client now who is in the front edge of the wave that will come.

Paying Taxes from Mexico, It's That Time of Year Again

Thomas Lloyd - Mexico Broker Referral Program (Top Mexico Real Estate) — Fri, 23 Oct 2009 11:13:03 -0500

If you have been living in Mexico in 2009 or if you earned income while in Mexico, chances are that the April 30th deadline for filing a Mexican tax return applies to you.

Income in Mexico is broadly defined and includes wages from an employer, income from personal services, rents, dividends, income and other items If you have received income, then it does not matter if you are considered a Mexico resident or non-resident, the law says you must file a return.

Requirements for residents are different There are several ways to determine whether or not you are a resident The easiest way is to see how much of the year you have spent in Mexico If you were here for 183 days or more, you are considered a resident You can also be considered a resident if you maintain your primary residence in Mexico or if you receive more than half of your income from Mexican sources When in doubt, the Mexican government will consider you a resident Bienvenidos!

Residents are required to pay taxes on their worldwide income, just as the US requires you to do This means that any income you receive from the US: social security, pensions, interest and so forth; will be taxed under Mexican law Similar to the US, you are allowed deductions for medical expenses, charitable deductions and the like You receive an exemption for the first MXN 125,000 Income from 125,000 to 1,000,000 is taxed at a 15% rate Above one million pesos, the rate is 30%.

If you need to file a tax return (for more information) While many have neglected to pay taxes in the past, it might be wise to start paying attention to this issue As the economic situation worldwide has deteriorated, governments are eager to seek out additional tax revenues US President Barack Obama has been putting heavy pressure on Swiss and other European banks to release information on Americans with accounts there There is no telling what goverments may do to maximize their tax revenues should economies continue to deteriorate

Keep in mind that if you pay taxes in Mexico, as a US citizen, you must also file taxes in the US More about this issue in Part II drop me a message or a quick note by CLICKING HERE (Mexico Real Estate Contact us) along with any questions you may have I ll be more than happy to send it to you immediately and respond as best I can on any tax questions you may have.

Bargain Hunting for Real Estate in Cancun & the Riviera Maya

Thomas Lloyd - Mexico Broker Referral Program (Top Mexico Real Estate) — Thu, 22 Oct 2009 09:37:39 -0500

Will you find slashed prices on Cancun real estate properties just like in the suffering US market Find out the reality of the current Mexico real estate market conditions.

Every day I am receiving more and more inquiries aboutdistressed property scenarios. Many savvy investors have shifted their interest from Mexico pre-construction flipping since we are no longer in a profitable market for that type of investment. Now those with keen vision are looking for properties priced under market value. Those sharp investors know that now is the time to buy. Experts in Mexico real estate know the rule.. the best time to buy is when every one is selling and sell when everyone is buying.

We are truly in a buyer s market since we are seeing price reductions on many properties in the area, reflecting the current market conditions. However, the situation here in the Mexican Caribbean is very different from the troubled US market.

Since financing in Mexico has not been easily obtained to purchase real estate, most owners have paid cash for their properties. This means that we do not have foreclosure situations on these properties. There are definitely owners who are motivated to sell and are pricing their properties accordingly, but don t expect the slashed prices like in the US market.

If you are looking for a great investment or a second/retirement home, now is the perfect time to buy real estate in Cancun and the Riviera Maya. Since there are many new developments in the area, some developers have started to roll back prices to reflect the slower market. Also we are seeing price reductions on re-sales. This is certainly an opportune time to get great deals on properties here in the Mexican Caribbean. In other words, bad markets offer great opportunities if you know what you are investing in. If you are looking for a good value vacation/retirement home that doubles as an investment you can't go wrong. And considering the poor options for investments in the US, it may be the best time to park some of your money in real estate in Mexico.

Q: In the Mexico Real Estate Market, Can we Use One Bank Trust to Own Several Properties

Thomas Lloyd - Mexico Broker Referral Program (Top Mexico Real Estate) — Wed, 21 Oct 2009 09:35:13 -0500

A common questions we have in the Mexico Real Estate market when assisting non Mexican investors or buyers is

Q.) “Would we be able to use the same Mexico bank trust for multiple purchases or does each property have to have its own trust”

A good question. Our panel of Mexico Real Estate experts will answer below

A.) Rita Sheese of Cozumel Capital covering the Cozumel Real Estate Market answers:

“Each property will need to have it's own separate trusts, each established for a specific property.

A Mexico bank trust, or fideicomiso, is established for a Property…so trusts are property-oriented, not people-oriented. A specific property is the object of each trust contract, and the reason for the trust being established As an example: when a property held in trust is sold, the trust stays in place, only the beneficiaries in the contract change — the original beneficiaries of the Mexico bank trust (sellers) cede their beneficiary rights to the buyers, who become the new beneficiaries of that same trust.

A.) Linda Neil from the La Paz Real Estate region adds “A Mexico bank trust is required for each property since the trust (fideicomiso) is actually a deed to the rights in a specific property. A permit from the Secretary of Foreign Relations is required for EACH property and the text of the permit is included in the fideicomiso deed. The only exception to the one deed per property rule is where two lots are contiguous. Then both can be put into one deed but usually will still require two foreign relations permits.”

A.) Ivan Castillo,regional director and practicing Mexico real estate lawyer from Stewart Title responded: “One Mexico bank trust must be used for each property. Each trust contains particular information of the transaction, such as: purchase price, trustee, substitute trustee, own SRE permit, appraisal, amongst other items.”