Playa del Carmen Real Estate

I have been speaking to many investors the past several months about the Campeche real estate market.  In the conversations it brings to mind that many people out there are scrambling to make sense of the economic mess created over the last few years, the smart money investors have already keyed in on when and where to begin reinvesting.  Time has taught us all that our lives are cyclical.  Case in point:  bell bottom pants, recessionary times and historically low interest rates. Though some things fade in and out, one inevitable rule has always remained true when it comes to real estate investing, even here in the Mexico real estate market:  location, location, location.

Whether you are buying your first home or you are a seasoned international real estate investor, this has always been and will always be the golden rule of real estate.  One model of success  that has created millionaires such as H. Ross Perot, Colonel Sanders, Hewlett and Packard, Babe Ruth, Howard Hughes and Joe Kennedy is to buy low and sell high.  When and where did these real estate tycoons do this?  You might be surprised at the answer.  It was not during the best of economic times, in fact, it was at the worst of economic times.  It was during the great depression.  It is no secret that economic downturns create once- in- a- lifetime opportunities to amass huge sums of wealth and the most common vehicle to do such has always been real estate investing.  During the great depression, real estate demand was low and therefore prices were also low.  Those visionaries who were “liquid” had the opportunity to snatch up incredible pieces of real estate at rock bottom prices, knowing the price would once again be going up….way up.

“Foreclosure by the banks has been the order of the day. Day after day real estate can be bought for the price of the first mortgage and there are no bidders except the bank which holds the first mortgage. In this way the banks are becoming the holders of huge quantities of real estate.”**

Does this sound like a headline from today’s paper?  Certainly an all too common statement about our current economic crisis, but this was written about economic conditions in 1929 and the years following.

So the “when” is evident. Our economy has once again created the perfect opportunity for visionaries to buy low and sell high.  Just as the aforementioned millionaires took advantage of the opportunity that faced them 80 years ago and became our “economic heroes” of today, we too stare opportunity in the face and have the chance to buy incredible pieces of Mexico Real Estate at bargain prices and therefore creating a portfolio worth millions.

The lone question then remains “where” do I invest?  The economic crisis has been a global one and therefore creating opportunities throughout the world, but where can the “little guy” feel safe to invest knowing his money is secure and growing? Many factors must be taken into consideration when investing in real estate, especially internationally. Several markets are now prime for a dramatic increase in real estate prices.  Many of the places in the United States and Canada are still over priced and the insecurity of the market falling even lower and a slow recovery time do not make most of these areas a logical choice. One area that has drawn international attention for real estate investing because of its low prices, prime real estate, strong and growing economy, location, climate is Mexico. The Mexico real estate market is large and a geographically diverse country with many beautiful areas.  The most expensive and most sought after real estate in the world is beach front property and mexico beachfront real estate offers some of the world’s most beautiful areas.  Combine inexpensive Mexico beachfront properties with a cheap labor force, warm year round tropical climate and state of the art health care and you have a gold mine in the making. American and Canadian baby boomers are buying up Mexico beachfront at astonishing speed sending prices through the roof, but there are stretches of beautiful white sandy beachfront properties lining emerald waters still available at bargain prices as low as $55,000 usd.  now is the time to act, to secure your future to take advantage of this once-in-a-lifetime opportunity created by our economy.

 

"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

Since 2007 the Playa del Carmen real estate area has been host to an annual Jazz festival.  As our office introduces many new non Mexicans interested in living in Playa del Carmen, or are interested in buying property in Playa del Carmen, one of the strong attractions to this growing international metropolitan is the international events and festivals.  Playa del Carmen has a whole line up of year long activities. 

This past spring, Julio Iglesias held a concert with great success and thousands of fans turning out both locally and from other countries.  Later in the year, the Canadian superstar Gino Vannelli also came to Playa del Carmen giving a stand up concert that had the streets buzzing for many weeks following.  When the line up was released on who was coming to town for the 2009 on the beach, under the stars concert, it created a rumored record crowd this past week end.

Sergio Mendez, one of the main attractions is from Brazil and was popping out tunes during the 50’s, 60’s during the bossa nova movements.  He brought the people to their feet Friday night when he sang the old classic THE GIRL FROM IPANEMA, along with other hits.

 

Spyro Gyra had everyone full of electricity and applauding with several solos and tunes that had people dancing on the beach.  Sax, drums, bass,  all of this and more under a starry night on the Caribbean. 

 

Saturday night.  Al Jarreau from Wisconsin, the only vocalist in history to receive the grammy awards in three categories (jazz, pop, and rythm & blues) was definitely at the top keeping all of the crowd entertained at Mamitas beach. 

 

Pat Martino played beautiful relaxing music with his guitar and Herbie Hancock closed the night and the festival with nothing less than an unforgetable week end of  world class music…. here in Playa del Carmen.

As I work in the Playa del Carmen real estate market, many people ask what is it like to live in Mexico and work in the Mexico real estate industry?   What is it like to live in Playa del Carmen?   I respond that I am lucky to live here.   There are not many places where you can live next to the Caribbean beaches.  Not many places where you have hundreds of miles of incredible snorkling and scuba waters to discover, to kayak, to sail, to fish.  Have hundreds of world class restaurants, cafes, bars to enjoy and hundreds of ruins and pyramids to explore.  And all of this with people who have relocated here from all regions of the world (Italy, UK, USA, Canada, Argentina, other parts of Mexico) to come and enjoy living their new life in this small little caribbean beachside community.

 

"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

I had put up an article in a magazine about two months ago and thought it would be good to share with the readers of our TOP Mexico real estate blog.  Here is the article below.    The Riviera Maya and Playa del Carmen real estate market have had some of the world’s most interesting growth rates and fascinating examples of regional trends.  Playa del Carmen homes  and Playa del Carmen condos have had continuous increases in demand but those in Quintana Roo have grown the strongest.   During the 1990’s the little village was known as the pier town where you grabbed the ferry to get to Cozumel.   Now, during this decade, this little village has become more intertwined with the international business world, and consequently, adjustments to the real estate market have been witnessed from the direct effects of the world economic downturn.  The loss of jobs and loss of corporate sales in the economies of the United States and Canada have reduced the number of buyers here in Mexico.  The bankruptcy of several international banks on the world wide scene has also tightened the regulations on credits and the amount of available capital for investments.  These and other economical occurrences have had a decrease effect on the demand here in the Playa del Carmen Property market place, but interesting Mexico mortgages for real estate buyers have also been introduced in greater varieties from bank institutions and creative transaction models from seller-financed sales are becoming more common.  With economic turbulence, also comes opportunity.  Surrounding yourself with regional-market-intelligent Mexico real estate agent  experts is the first important step towards a safe Mexico real estate acquisition and profitable investment, and this recommendation is even more prudent during times of market adjustments.

Back in the 1980s and 90s Playa del Carmen was not THE destination, it was the Pier village where you picked up the ferry in order to get to Cozumel.  This soon changed as people began to notice Playa del Carmen’s beaches and its growing international community.  European backpackers began frequenting the area and the 5th avenue began to make a name for itself.   Hotels and investors began to notice the potential of the area quite quickly.  Hotel room inventories grew from 10,000 units up to 15,000 – 20,000 by the later 1990s.  Today, the Riviera Maya hotels have more rooms than Cancun.  With the tremendous growth in various industries in Playa del Carmen, the population boom began and the real estate market began taking off. 

Over the past five years, Playa del Carmen has been one of Mexico real estate’s strongest appreciation markets with returns in the double digits.  During the first years of the 2000 decade, many investors would purchase 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.  In the middle of this decade, it was quite common to hear buyers comment, “I should have bought that property 2 years ago when I first saw it!” 

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 as the world economic engine began skipping some beats. 

2008 and spring of 2009 brought a unique occurrence to this regional marketplace.  The recession from the northern neighbors brought its first effects onto the Riviera Maya  market place and in the Mexico real estate industry.  The appreciation rates had flattened and begun to drop slightly.  Large amounts?  NO,  but very interesting amounts. 

Some people like to say that the glass is half empty; but not the smart investor.  The current scenario in Riviera Maya presents some fantastic opportunities for the investor who is open to options from professional and market-intelligent real estate experts.  Mexico financing  is becoming more common when purchasing real estate here in Mexico.  Large multi-national banking institutions that weathered the fall out of the financial crises remain in the market offering their mortgage products to non-Mexicans buying properties in this country.  Some of these lenders have made recent adjustments to their requirements such as lowering the LTV ration from 70% downwards to 65%.  Also the FICO scores might have increased in the spring of 2009 in order to reduce risks and to approach this year slightly more conservatively.  If qualified, these financing options can create some interesting opportunities for investors ready to take advantage of market pricing that is adjusting downward.  Developer and home owner financing options are increasing as well.  Some of these home owner deals can be very attractive with interest rates equal or quite similar to the rates commonly seen from our home countries.  However, such offers need close professional review of the conditions in order to protect monies, to protect the property, and to protect all parties involved in such transactions between non-financial entities.  Certain contracts and bank trusts can be established giving ample protection and security to both the buyer and seller allowing for immediate physical possession while a percentage of the commercial value of the property remains outstanding.  Many people feel that the time to invest into the Riviera Maya market has passed and it is too risky given the world economic conditions.  However, this is an interesting period for investment with high potential, if you are able to hedge yourself with qualified and top experienced advise.

 In fact, when reviewing the factors on some investment alternatives in the market it can be noted that 2009 is an even healthier market for investment purposes than the investment environment originally witnessed during the beginning of the years 2000.  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’ lack of experience, risk of the poor reaction and acceptance of the buying market, risk of the unknown infrastructure development to support the construction growth.   Today, investors have first hand, regional real estate history data.  The market absorption and projections are based more on historical facts and data rather than a guessing game or correlating future results based on similar marketplaces from other regions.  Risks within investment alternatives can also be managed with the assistance of a well chosen team of regional experts.  Purchasing finished products, versus the unknown results of investing within a new construction might be an example of strategies to take advantage of the current market conditions.  These first hand facts and historical results 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 Riviera Maya.  Obviously there is a short term downturn.  But as this article discusses, if you are able to surround yourself with TOP-knowledge and experienced advice, the summer of 2009 can present some incredible and unique real estate opportunities.  For those who missed the appreciation wave of the early 2000s, this is your “Second Chance” to enter into the market before the next wave.

 

"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

Is the Mexico Retirement industry a niche market that can help the Mexico real estate market come back?

 With millions of baby boomers reaching retirement age every day, the market for a lovely place to live with the security and services required is growing exponentially.  

Many baby boomers no longer want the five bedroom home and quarter to half acre home in the suburbs.   Nor does the luxurious and prestigious home on the beach seem as attractive as it once was.  Too much work!   Too much upkeep! And too much money!  Today’s couple reaching retirement age is looking for an interesting and inviting place to live that promises outstanding value and something different!

All this and more was covered recently in a conference in Mexico City.   The Mexican Association for Assistance to Retirees.   Over 400 industry leaders, developers and those looking for some answers met at this conference in Mexico City to discuss parameters and new strategies for the Mexico retirement industry.

Many are coming to recognize that Mexico retirement options are very feasible with its lower cost of living, culture and tradition for caring, with outstanding medical services, may be the new place for Americans and Canadians looking for retirement.   Perhaps Mexico homes and this country will no longer be viewed just as a vacation in an exotic place!

When the crisis really hit the U.S., many buyers of Mexico property left the market.   Their investment funds came from the stock market, 401 Ks and home equity.   These sources obviously dried up and the resort and vacation market hit bottom.    Prices in the Mexico real estate market, however, have not necessarily come down in the resort areas since many sellers do not have bank loans on their properties and are in a position to hold on to their properties until that market returns.

These properties may not sell soon, however.   There seems to be a feeling among those who suffered reverses in their portfolios that this time they will look for quality, value and security rather than plunk down money on an emotional and perhaps exotic purchase.

There is a delayed demand – many of those who left the property market in 2007 and 2008 did so because they were suffering devastating losses in U.S. investments.  Now that those markets are beginning to recuperate, it seems that the home or condominium for vacations, rentals, active retirement will be more attractive if of high quality, easily accessible and not exceed 200,000. to 300,000. USD in price. Also very desirable is the development that integrates the Mexican culture into its overall concept such as those found in the La Paz Real Estate area. The home away from home of yesteryear, insulated from the Mexican culture, may not be quite as attractive as it used to be.

What may be sought after in this new Mexico retirement market is the development that offers Active Living and Aging in Place.   In other words, independent living modules, either separate homes or condominiums within a secure community with many activities available either on site or in the community: such as biking, hiking, fitness, swimming, crafts classes, music activities.  These activities are geared to the mature active adult who has always wanted time to do these things and can live independently.   Within the same community, however, are medical facilities, and increased services available such as the preparation of meals, home visits and so forth.   Different packages of services are available to fit the variouef levels and requirements and can be purchased from a hospitality company operating the development.  

These independent living units can either be purchased or leased.   The move to assisted living will focus on  a more institutional environment which features everything from meal preparation to intensive care. 

Under consideration at present in the U.S. government, is an initiative to permit Medicare benefits to extend to care received in Mexico.   Since health care costs are substantially less in Mexico for the same level of care, both the U.S. government and the patients will benefit.

In all cases, the successful Active Living to Assisted Care development will require excellent access to health facilities, airports for quick access by loved ones, and outstanding communications systems in the community.   There are perhaps a dozen cities in interior Mexico which may fit the bill for this new focus on sales to the foreign market.

 

 

"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

Slow down in the economy here in Playa del Carmen?  Real Estate prices continue to be supported or I should say that the factors that play heavy into the stability of market prices continue to grow here in the Riviera Maya.  I speak with many Americans and Canadians everyday who are wondering about the Playa del Carmen real estate prices;  how are the Mexico Homes values being effected with the world financial turmoils and the Mexican economy being tied in so tight with North America?   How are these situations playing upon the Mexico real estate market? 

Definitely we need to be monitoring these situations very closely and definitely given that our countries have the largest trade  volume then any other country of the world, Mexico will be the country most effected with a downturn in US’s finances.   But, the real estate in Mexico is made up of hundreds of factors.  Each region has different factors that play heavier upon the market values and Playa del Carmen homes have their own particular variables of which include the amazing investments into the community infrastructure. 

In the past 12 months there have been approximately four bridges constructed along the highway of 307 extending from the Cancun airport down south towards Tulum.  Puerto Morelos is the last of these bridges to be constructed and it is nearly 50% into completion.  About 2 years ago, there was only a single lane road leading from Playa del Carmen south to Tulum, today a double lane highway allows for an incredibly fast drive from the Airport, through Playa del Carmen, and another 30 minutes to arrive to the southern half of Riviera Maya on the beautiful Caribbean beaches of Tulum.  It doesn`t stop there.

The latest news is that the SCT (Secretary of Communications and Tranpsortation federal offices) have decided to approve two more bridges or a second level highway to allow for an express route through Playa del Carmen.  Mr. Eddy Flores Villanueva, confirmed that construction will begin in the beginning of 2010.  The elevated road will rise from Avenue 34 and continue elevated passing Avenue Juarez on the southern half of town.  A second bridge will take the vehicles over the Avenue Colosio crossing to make traffic much more fluid from all sides throughout the city.

Some of the advantages of the second level highway through Playa del Carmen, is to allow for the circulation under the bridges and the perpendicular streets allowing for people to cross from the east side of town towards the west side without the long delays of the traffic lights.   The plans also show the creation of bike paths, walk paths, and green areas to be placed under the structures for improved quality of life for the citizens of Playa del Carmen.

The construction has already begun as many of the units are prefabricated and then transported to site for installation and connection.  The total cost of the investment is proyected to be near 20 million dollars.

 

"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

I have been writing in previous posts about our process of doing a small fixer-upper project in the middle of the booming Playa del Carmen real estate region.  Click here to see the previous stories on this Mexico fixer upper project.  If you are dreaming about buying an inexpensive Mexico real estate property, you most likely have some thoughts or  rough ideas in your head on what type of project you want as a final product.  Some of you may have already scouted out a particular neighborhood or some Mexico land and have a good idea on how you want to use the property whether it be for personal use, a long term rental property, a vacation rental, bed and breakfast the options are limitless.  When you choose which plan or the face lift project you want to incorporate into your Mexico fixer upper, the “final use” of the product is one of the most important question that needs answering and below I have listed out several other questions you should be asking yourself and your partners. 

 

 

1. Whether the Mexico property is for personal use or for rental, you should ask if the final user will be for a married couple and family or for a single person?

2. If for a family, how many rooms will be required?

3. The amount of bathrooms depending on the quantity of people living in the building will also need to be answered

4. Will you have any other people staying for long periods such as parents or friends?

5. What about visitors, Do you plan to receive many friends who stay for week or monthly periods?

6. What are your work habits, do you require a home office and if so, do you receive many clients at your home?

7. How often do you invite friends and family for entertainment? How many people do you normally invite and what activities do you frequent?  Do you have enough parking and how much is required?

8. What are your habits or hobbies and those of your families?  Or if you plan to rent out, what open areas do you think is necessary to offer to make your product in demand?

9. What architectural design is in demand and which will create the best opportunity for a good resale demand?

10. Do you have space for laundry? for electronic home entertainment?  library? pool?

11. What about a work shop or storage area?  You can never have enough storage area.

Finally, you must also contemplate the green areas and outdoor space.  If you have beautiful or interesting views from your home, take advantage of these and try to contemplate this into the design of your Mexico fixer upper.   Now remember, changes to the exterior of the construction can have some fast positive returns on the value of the property, but changes to the infrastructure might not be so glamorous and these might be so expensive that it can eat up all of the extra points of your utility.  So do your homework before signing the investment and having a Mexico realtor with many years of experience is a very valuable member to have on your team.

 By answering many of the questions above, you will be able to have a clearer image for yourself on what your goals are with the property.  Identifying the final users, their needs, their habits, will help you create a real estate project with higher demand.  And with many of these questions answered, your architect and contractors will also have a clearer image of the property’s  needs and better image of your goals.      

 

"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

Are you interested in Playa del Carmen luxury condos?  Do you love the sea? Imagine living in a marina, with your yacht steps away from your front door; you’re also just steps away from small shops, restaurants and various activities in a pleasant, relaxing and exclusive community.  There are many Mexico real estate options but only handfulls are in marina communities.  And, of course, the beach and golf course are a part of it all.  In the Riviera Maya, there are not many options available for those boat lovers who are looking to have a slip or a dock to tie up their boats.  Puerto Aventuras Marina community, with all the convenience of direct access to the sea, and the comfort of a closed gate community services .  Puerto Aventuras real estate market has announced that it’s going to add more than 100 plus single family residential lots with canal frontage and several multi-family lots with ocean and canal frontage to the Marina community.  This is a perfect opportunity for anyone who would like to make this unique community their home, or home away from home.

 

            Puerto Aventuras is a private, gated community, just 20 minutes away from the Playa del Carmen , and 30 minutes from the ruins of the Mayan pyramids of Tulum, in the heart of the Riviera Maya.  The community is world class and sophisticated, and at the same time easygoing and relaxing.  Puerto Aventuras is a resort community which offers luxury 5 star hotels, all inclusive 4 star packages, as well as condo, house or studio rentals.

             This ideal Mexico real estate destination offers various opportunities for both investors and home buyers, including studios, condos, villas, houses or luxury estate homes.  This variety of possibilities appeals to wide range of buyers, giving the community an appealing diversity.

       Within this Playa del Carmen beachfront condo setting, the Marina offers a unique option; the marina was designed with several wings branching out, in order to give boat lovers the convenience of having their boats right in front of their sea-front homes.  In the recently-announced new Marina section, the 100 plus single family residential lots with ocean and canal frontage range in size from 700 m2 (7490 sq. ft) to 3000 m2 (32100 sq. ft) and the condo / hotel lots range in size from 1064 m2 (11384 sq. ft) up to 27850 m2 (297995 sq.ft).

             The Marina provides full services, offering convenience for boat-loving home-owners, and ensuring attractive incentives for renters.  The services include a dock for the shopping area, direct walkway access from the wharf to each private slipway (with full security services), and a complete range of all other marine services.

             If you love boats, and if you’re considering a Mexico retirement life style, or for any other reason you’d like to have a condo in Playa del Carmen or a home on a unique marina community, steps away from stores, restaurants, minutes away from the world’s most beautiful beaches, not to mention the awe-inspiring ruins of Tulum and the all the events and convenience of Playa del Carmen, talk to one of our TOP  Mexico real estate agents to discuss the possibility of the Puerto Aventuras Marina.

 

"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

You find a very interesting Mexico Home on the internet, and the price looks right.  Or maybe you’re down in Mexico for your vacation on the beach and you see a great looking Mexico Condo, in a perfect location with a for sale sign on it.  What’s the first thing you should do?  Call the phone number on the sign, or on the web page advertising the property?  You get the best deal that way, since you’re going straight to the seller, without involving more people in the transaction, right?  WRONG!    False logic, it seems simple that contacting the listing agent would appear to be the first best step to excercise; this misconception can lead to inadequate representation of you the buyer or a conflict of interest between buyer and seller in the Mexico real estate transaction.    

Experts of the TOPMexicoRealEstate NETWORK, explain quite clearly why you should choose a Mexico real estate agent who represents only your interests as a buyer, and how to avoid such risks when buying property in Mexico.

 One of the biggest misconceptions about the real estate world is that by contacting the listing agent, we save something; we think we save money – either by finding a better price, or by saving commissions; we think we save time, avoiding more steps in communication or extra contracts.  We will see that these perceptions are entirely false!  In fact, if you have the listing agent represent you the buyer in the purchasing process, you could end up paying more, and allow yourself to be placed in great disadvantages within the contracts and in other aspects of the sale.

 First of all, let’s consider the point of saving money.  As for the purchase price, first we need to consider who the listing agent is working for.  The listing agent has been contracted by a person or company selling a piece of real estate.  The agent has signed a contract and has a fiduciary obligation to the seller – a completely normal arrangement.  That agent is obligated to protect the interests of the seller.  What are the interests of the seller?  Getting the HIGHEST PRICE reasonably possible, and including as many benefits in the seller’s favour as possible.  What are your interests as a buyer? Getting the LOWEST PRICE reasonably possible, and obtaining the most benefits in your favour.  These two sets of interests cannot coincide on all points – especially not in the area of PRICE.

 “How is one agent, negotiating between buyer and seller, going to be able to obtain all of this for buyer and seller?” 

An honest seller’s agent committed to protecting the needs of his clients would refer you, the buyer, to another professional agent who could represent your needs fairly.  The trouble occurs if the listing agent is not upfront about his or her obligations, and attempts to represent both you and the seller.  You, as a buyer, must avoid this situation.

Now, having established that it is a conflict of interest for a seller’s agent to represent you, the buyer, specifically in the area of cost, do you really think that the listing agent will be able to get you a lower price than another agent?  Since his first and main obligation is to the seller, who is looking for the highest price, the opposite is probably true; you will end up paying a higher price.

Perhaps you are wondering about commissions.  Usually the commission is paid by the seller; the seller’s agent and the buyer’s agent generally split the seller’s commission 50-50.  There is usually no cost to the buyer to have another agent represent his needs, nor is there any extra cost the seller.

 “Find a good buyer’s agent and have him contact the advertising agent,”  “It’ll cost the buyer nothing and will probably save him a fortune and many head and heart aches!”

 The fact that the seller’s agent is looking out for the seller’s interest first could also have the result that you do not find out about problems either with the physical property or the paperwork.  In Mexico regulations are not as well defined, and as a result there is less obligation for agents to disclose problems with the property to the buyer.  If you do not have an agent representing only your interests, it is more likely that problems will go unnoticed or that you will not be made aware of them.

The same idea applies to paperwork.  The same amount of documentation is necessary whether there is one or two agents involved; again, having a buyer’s agent will ensure that there is someone looking out for and protecting your interests in the processes, and may in fact save you a bureaucratic mess later on, when issues surface later on that really were not in your best interest.  A buyer’s agent will watch out for your needs and make sure you are aware of what is going on.  Communication will also be clearer, since it is better defined who is representing who.

Another important point is that a committed buyer’s agent will give you a complete overview of properties available and suitable for your needs and price range, not favouring, or pressuring you to buy from a certain developer or seller.

 “A true buyer’s agent”, “will show the buyer ALL the properties that meet his needs and budget; not just those they have as in-house listings.”

 This means that you can explore and evaluate all the options.  If you do not have all the options presented to you, it is not possible to know that you are choosing the property best for your needs.

 A buyer’s agent will also help save the buyer time.  TOPMexicoRealEstate  lists the following items; the buyer’s agent can help evaluate the buyer’s price range and different financing options, review the condition of the property, advise the buyer concerning key inspections, suggest where they can find the experts to carry out the inspections, check costs of owning the property, such as property taxes and utilities, prepare and present the official offer, make sure the contract is as favourable to the buyer as possible, and review documentation transfer.  These steps can be time consuming, and many of them require experience to make sure that your interests are represented.  A seller’s agent may have the experience to know whose interests they represent, but may be limited by his obligations to the seller.

 

"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

A key factor in Mexico real estate, especially a market like that of Playa del Carmen, is the strength of tourism in the area.  For this very reason, contrary to what one might think, now is the IDEAL time to buy here; because of the international recession and the swine-flu travel advisory, the current market is at a low point, which means reduced prices, sometimes very reduced.  However, in addition to the confidence which the history of the Playa del Carmen real estate market offers us, the government of Mexico has just launched the “Vive Mexico” program, which will add to our confidence that the market will soon be on an upward trend, and that this is an ideal time to invest.

Those considering buying a home, or looking for an investment in Playa del Carmen may hesitate to buy at a time when appreciation has leveled off.  But considering the importance of tourism in this market, any indication that tourism will soon be on the rise again is a good sign.  The “Vive Mexico” program considerably strengthens these prospects.  President Calderon is challenging Mexico’s tourist industry, “Let’s show the world what we really are,” and do better than ever.  This is just what the “Vive Mexico” program is going to do, redoubling effort in innovative ways to promote Mexico’s tourist destinations, and offering special prices to an extent which has never been seen before.

So, what does this program include? An unprecedented financial investment of 90 million dollars (1.2 billion pesos).  This money will be used to promote Mexico “in every way possible as a tourist destination full of life, attractions and benefits with no equal.”  The investment will be dedicated to promoting tourism in North America and throughout the rest of the world, both encouraging Mexicans to get to know their own heritage, and continuing to show the rest of the world the benefits of coming to Mexico.

The message which “Vive Mexico” has for the world will be delivered through various media, and using celebrities such as actors and soccer players, and public figures from all walks of fame. The campaign has been called “much more than just a promotional campaign – it’s a national movement which requires the participation of all Mexicans.”

In addition to the campaign itself, numerous other initiatives are being undertaken.  One is an updated version of Playa del Carmen’s Digital Tourist Service Catalogue (Catalogo Turistico Digital), which includes catalogue of all services of interest to tourists in Playa and has been distributed on CD and very successfully received on an international level.  The new version will included data from a recent census to offer more complete information.  Also the government of this state is organizing an event (“Vive la Vida en el Caribe Mexicano, Travel Shop el Mall de los Viajes”) to complement the national program with promotion specific to Quintana Roo.

So, there’s going to be a lot of publicity – what else is going to be offered?  In  Playa del Carmen and the Riviera Maya,  there are going to be reduced prices, all-inclusive packages which now include even more, such as extra nights in hotels, free entrance into eco parks, and numerous other incentives for tourists.  Some packages are being offered as low as 50%. The campaign will focus on bolstering tourism this coming summer season, that is, within the next couple of months.

For the Playa del Carmen Real estate this means one thing; tourism, a key element in the market here, will rebounds and probably quite quickly. As tourism grows, the market trend will turn back up.  This factor, in addition to numerous others which will give buyers confidence in the Playa del Carmen Real Estate market, make this an ideal time to invest in Playa del Carmen.

 

"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

Since the Playa del Carmen Real Estate boom earlier this decade, there has been a continual commitment of infrastructure investment, improving the convenience of living here, as well as the visual appeal of the city.  Despite the world recession and the lull in tourism throughout all Mexico real estate  regions, this investment into the area services has continued strong this year.                                           

With the green light to pave a portion of a neighborhood just west of Downtown, the city has invested  230 million pesos this year, said the director of Public Works, Eddie Flores Serrano. 

He said that in the last part of this year, the remaining 30 million peso investment will focus on more urbanization projects, especially in various neighborhoods outside of Downtown where not all of the roads are paved.  The projects will focus on four neighborhoods, and, when completed, they will leave Playa del Carmen 80 percent paved. 

“We are going to concentrate on some areas of the neighborhoods which lag behind somewhat in urban infrastructure, building boulevards and sidewalks; only 20 percent of the city will be left unpaved, which is basically the area where drainage is yet to be installed”  added the director of Public Works. 

While the improvement focuses on outlying parts of the city, the investment will improve the conditions of transportation throughout the city in general, and also indicates the ongoing commitment of infrastructure investment into Playa del Carmen real estate.

Additionally, there are plans for this year to set up the police checkpoint in the southern limit of the municipal section of the federal highway, towards Tulum, which would be similar to what already exists  in the north, towards Cancun.   The new checkpoint will help offer continued road safety and high security – two attractive benefits of Playa del Carmen Real Estate.

 

"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

According to Maslow’s hierarchy of needs, at the base for life necessities for people is the need for protection and shelter. In our Playa del Carmen real estate business, we define home as our shelter, but in today’s present world, our shelter has become much more than just a roof over our heads.

So how did many non-Mexicans choose their Playa del Carmen home  Some chose the convenience of city living or some opted for homes with views such as on a Mexico Beachfront property or mountainside home. Maybe they chose a home for winter getaways, or a small bed and breakfast as a hobby or as a rental generator. For many, their Mexico real estate reflects the lifestyle that many people have been working towards for many years. It is their new base for winter living and for their Mexico retirement plan. Their home reflects how they wish to live during the next exciting phase of their lives.

When thinking of a Mexico retiremen home, people like to think of it as a refuge from the real world, a warm place to come home to. And our home should be our sanctuary. Your second home in Mexico real estate should also be your refuge, from the cold harsh winters and rat race lifestyle.

So how do you choose your second retirement home in Mexico

Here are six tips to help you make your decision.

1. Climate. Throughout Mexico real estate you will find that climate varies greatly. You should choose your second home in a place that offers the best climate for your lifestyle and health requirements. For example, the mountainous areas will be cooler, especially in the winter months and pleasant during the summer. The Mexican Caribbean is tropical weather all year round, with dryer more comfortable weather in the winter months and hot and very humid in the summer.
2. Safety. With all the recent bad press about the dangers of Mexico , safety is a factor that many are contemplating when purchasing a second home. Most of this bad press is way overblown and most of the popular second home destinations are safe for foreigners. However, since safety is a major concern, it is best to thoroughly evaluate the area you are considering. Before judging an area, talk to others that already live there. There are online resources with blogs and message boards for popular second home communities. Find out what others have to say. You will more than likely be pleasantly surprised to find that most foreigners feel safe in their communities.
3. Lifestyle. Just like your primary residence is a reflection of your lifestyle, your second home should be so as well. What kind of activities and entertainment do you enjoy Are you a golfer Or a boat enthusiast Maybe you just enjoy basking in the sun on a beautiful beach. Do you like the bustle of in town living or do you like more space and privacy Choose a second home community that includes a variety of your preferences.
4. Type of home. When considering in Mexico real estate, it is important to decide what type of property will work best for your needs. If you will not be living in the property year round, you must consider its security and upkeep when you are gone. A gated condominium would be very convenient if you will be leaving it for months at a time. Most are gated with security. And the monthly condo fees will take care of grounds and pool maintenance. On the other hand, a single family home will require a live-in caretaker to assure the property is secure and well maintained. Consider these factors when making your decision.
5. Community. What type of community do you want to live in Do you want to live in an established expatriate community Or perhaps you wish to enjoy the rich Mexican culture and live in local communities If you are a golfer or boat enthusiast, then there are resort communities that would offer luxury homes and condominiums.
6. Cost of living. Before you decide on an area of Mexico real estate, it is a good idea to check out the cost of living. Some second home destinations are more economical than others. Make sure you can afford the area of your choice with your current budget.

"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