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Sponsor
and Donors
Juan and Mimi at Matejas
Top Ten Facts about Mexico Real Estate
Puerto Vallarta - Mexico Alive, a Puerto
Vallarta-based real estate development company, has been hosting
educational real estate seminars in various cities throughout Mexico for
more than a year. These events are called Discovery Weekends and average
about 40 attendees and $3.5 million in sales per event.
During the four-day, three-night events Mexico Alive representatives and
third-party sources educate attendees about the vast investment,
recreational and retirement opportunities awaiting real estate buyers in
Mexico, discussing topics such as lending, insurance, local culture,
health care, property value and appreciation.
Mexico Alive has found that Discovery Weekend attendees consistently ask
the same questions, most of which are fueled by the current housing and
economic crisis plaguing the U.S. In an effort to educate more people
about the facts surrounding Mexican real estate purchases, Mexico Alive
has decided to share the "ten things people don't know about Mexico real
estate" — and didn’t think to ask until the recent housing and financial
crisis.
1. Property in Mexico can be purchased with a self-directed IRA
(Individual Retirement Account) with no penalty, because buying foreign
real estate is the same as buying a stock or bond. The only catch is the
property must be treated as an investment.
2. Property values in some Mexican markets have doubled in the last five
years—and continue to appreciate. Even markets experiencing a slower
appreciation are still steadily rising. For example, properties in
Mazatlan, Mexico, have appreciated an average of ten percent per year
for the past ten years.
3. Of the 4.1 million Americans who reside in other countries,
approximately one million reside in Mexico.
4. Some of the larger groups of Americans and Canadians can be found in
Mazatlan, San Miguel de Allende, Puerto Vallarta, Guadalajara-Lake
Chapala and Los Cabos.
5. The top ten fly-in destinations in Mexico are: La Paz, Mazatlan,
Manzanillo, Ixtapa-Zihuatanejo, Cancun-Riviera Maya, Acapulco, Mexico
City, Los Cabos and Puerto Vallarta.
6. Banking institutions like Wachovia (NYSE: WB) and Deutsche Bank
(NYSE: DB) offer fixed-rate mortgages for properties in Mexico.
7. Mexican property can now be insured by US-based title companies, such
as Stewart Title (NYSE: STC) and First American (NYSE: FAF). The cost
for title insurance is estimated at about $5 per $1,000.
8. Non-nationals can now securely own Mexican real estate on or near a
coastline or border with another country. The property is purchased
through a bank trust (fideicomiso) or a Mexican corporation for foreign
purchasers.
9. Properties in Mexico can be purchased with a reverse mortgage.
10. For a $140,000 investment, a buyer can own a view lot with a 900
square-foot home, a 1,200 square-foot patio and all household
necessities (i.e. furniture, kitchen fixtures, etc.)
Mexico Alive’s Discovery Weekend events are offered in various cities
throughout Mexico, including Puerto Vallarta and Mazatlan. In Mazatlan,
the Discovery Weekends are hosted by the El Cid Resort and are
all-inclusive affairs, featuring a tour of the historic city, visits to
a variety of properties, sunset cruise, authentic Mexican fiesta and all
food and beverages. The event costs $185 per individual or $250 per
couple. Mexico Alive plans to expand its unique, educational concept of
Discovery Weekends to a dozen Mexican destinations.
Visit
Eric Nice Plays every Thursday at Mateja's
