David Pullen Saul Groman Harriet Murray Tere Kimball and Juan Jose Rodriguez

The gentle waves lapping on the white sand beach at the new Nahui Development in Playa Destiladeras was a breathtaking view for June’s AMPI Riviera Nayarita meeting. Tere Kimball, President and Saul Groman, Vice President of this chapter of AMPI, conducted the meeting and made important announcements to members and affiliates while they enjoyed a delicious breakfast.

The assembly was honored to have special guest speakers, Licenciado Marco Antonio Ramirez, from Notaria Publica #2 of Bucerias, and Licenciado Miguel Castro of Notaria #19 also in Bucerias, who made a presentation regarding Capital Gain Tax issues and requirements. Also among the special guests was Licenciado Alvaro Vidal, Director of the Public Registry Office in Bucerias, who spoke to the group about the multi functions of this government entity.

Following the adjournment, an excellent presentation of the Nahui Development project was given. Detailed information on this very unique project is available through local area real estate professionals.

For more information on AMPI Riviera Nayarita, contact Elena Andrade at elena@ampirivieranayarita.com

Marilyn Newman is a real estate consultant with Prudential California Realty-Vallarta Division. She can be reached by email at marilyn.newman@prurealtypv.com.

May’s continuing education course held at the Holiday Inn hotel this past Friday May 28^th, which was on Federal Maritime and Terrestrial Zones (Zona Federal Marítimo Terrestre), given by Lic. Alejandro Flores Von Borstel and his partner Ramiro Valencia, was a huge success among the more than 70 real estate professionals from the three AMPI Chapters of the region, Puerto Vallarta, Riviera-Nayarita and Compostela.

Lic. Flores Von Borstel designed his presentation to meet the specific needs of the Jalisco and Nayarit coastal regions, with an extensive question and answer session providing everyone in attendance the opportunity to voice their specific concerns and issues.

The on-going series of courses being offered by the three AMPI Chapters are intended to keep agents abreast of current laws and procedures in Mexico real estate.

The three AMPI Chapters work jointly to offer a different course the last Friday of each month to ensure real estate clients will receive professional, well informed real estate assistance from their local association agencies.

For more information on A.M.P.I. Riviera-Nayarita, contact Elena Andrade at elena@ampirivieranayarita.com or Vanessa Lopez with A.M.P.I. Vallarta, at ampivallarta@gmail.com.

Marilyn Newman is a real estate consultant with Prudential California Realty-Vallarta Division. She can be reached by email at marilyn.newman@prurealtypv.com.

The Board Norm Nelson Tere Kimball Saul Groman and Harriet Murray

Kayte Soasey and Marilyn Newman

Mary Palomino Carmen Garcia and Amparo Meza

Norm Nelson and Connie Beck

The beautiful residential development, Ikal Vallarta, located next to El Tigre Golf Course in Nuevo Vallarta, was the venue for the recent A.M.P.I. Riviera-Nayarita General Assembly to elect the 2010 Board of Directors.

David Pullen, President of A.M.P.I. Vallarta, says, “It requires an incredible amount of time and dedication to be on the board of directors, and working with Tere Kimball and A.M.P.I. Nayarita has been an amazing experience, with all three Chapters working together”.

Only Associates were present for the first half of the meeting with the Affiliates joining afterwards to enjoy a delicious catered breakfast while the results of the election were announced:

President: Tere Kimball
Vice President: Saul Groman
Secretary: Norm Nelson
Treasurer: Fay Sloane

Special Committees

Vocal: Ali Farach & Matt Caunt
Education: Judith McFadden, Marilyn Newman & Carlos Lemus

Following, developer, Lic. Guillermo Salles, General Director of Desarrolladora Bahia de Banderas (DEBBSA), spoke on the progress of the Ikal Vallarta development, announcing new incentives and promotions.

The rest of the meeting agenda went as usual: a little breakfast, a little business, and a tour of a beautiful property and back to work!

For more information on A.M.P.I  Riviera Nayarita, contact Elena Andrade at elena@ampirivieranayarita.com or Vanessa Lopez with A.M.P.I. Vallarta, at ampivallarta@gmail.com.

Marilyn Newman is a real estate consultant with Prudential California Realty-Vallarta Division. She can be reached by email at marilyn.newman@prurealtypv.com.

The more than 50 revelers joined Broker Tere Kimball in raising the roof as well as the spirits for the year 2009 with music and laughter.

Tere commented on the challenging year coming to a close and spoke of the team’s optimism and strength for the year to come. “We’ve weathered the worst of it; all of us in the real estate and tourism industries are now going through a renaissance and we’ll be stronger than ever. Our team has continued to grow, evolve and improve each year, and that’s what counts. The people at Prudential Vallarta will again make the difference in ’2010.”

Nicole Martin, executive sales associate, organized the cocktail event with her usual panache, with fireworks, beautiful floral arrangements appointing white draped tables and delicious catered hors d’oeuvres on a backdrop of stars and the Vallarta city lights.

Alex Urrutia Tere Kimball and Antonia Lavender

Ana Maldonado Laura Barajas Veronica Flores

Rosana Chavez Carmen Garcia and Ignacio Benitez

Paloma Mestre and Ed Rogalski

Marilyn Newman and Gary Amrine

Idalia Corrales Denise Lopez Desiree Lara Veronica Flores

I and several other area real estate agents recently sat for the exam of the A.M.P.I. approved Real Estate II course in English, given by Lic. Rafael Valdez, a certified instructor recognized by SEP (Secreteria de Educación Pública) and IDEFT (Instituto de Formación para el Trabajo del Estado de Jalisco).  The course covered a range of topics to re-enforce daily professional life and to instruct the experienced real estate professional in certain aspects of real estate law and documentation.

There were not nearly enough agents taking the course though.  It might seem like we are beating a dead horse by perpetually bringing up the benefits of continuing education for all area real estate agents and brokers, but I hold that the horse isn’t dead, he just needs a good beating.

For those agents who have not taken advantage of the courses being offered, there will be another opportunity to become the professional, well educated and informed agent we all hope to be.  A new course is being considered for early October and others will be formed based on requests.

For more information on course schedules and topics please contact Lic. Rafael Valdez by e-mail:  raval@rex-mexico.com; or cellular:  (322) 294-1679.  To learn more about A.M.P.I. please contact Elena Andrade at El Grupo Bienes Raíces, (329) 298-1212, or Vanessa Lopez with AMPI Vallarta, Cel: 322 135 7421, ampivallarta@gmail.com

Marilyn Newman is a real estate consultant with Prudential California Realty-Vallarta Division. She can be reached by email at marilyn.newman@prurealtypv.com.

With the recession hitting the United States harder than Canada, and the Canadian dollar still strong, this may be a great time for Canadians to buy that sunny, tranquil getaway in the U.S. or further south. But to make sure it is tranquil, do your due diligence, just like you would at home.

Tom Kelly, a syndicated columnist based in Washington state, has co-authored two books about buying real estate in Mexico and Central America.

He believes prices in those areas will go up once American baby boomers recover some of their wealth.

U.S. boomers weren’t prepared for the economic downturn and once they rebuild, they are going to look for a cheaper lifestyle. And it’s definitely cheaper in Mexico and Central America, Kelly said.

Canadians, on the other hand, haven’t been as hard hit and were better prepared, he said. So they are in a better position to buy now.

“And the further you go, typically the less expensive it’s going to be,” Kelly said.

Panama, for example, “is a bargain right now,” Kelly said. “But it costs money to get there.”

And while Puerto Vallarta and other places in Mexico are easier to get to, deals can be found there too, because not as many people are buying, he said.

The outbreak of H1N1 flu in the spring turned some people off. And the rash of drug-related crime did too, Kelly said.

But Kelly believes Mexico is perfectly safe, with the violence limited to the drug trade near the border. “There’s no history of these people targeting non-nationals,” Kelly said.

Mexico is also safe from a purchasing perspective with title insurance now available to those buying property, he said.

A lot of the horror stories of people buying in Mexico and ending up with nothing really stemmed from “non-nationals buying property they should have never bought in the first place because nobody owned the title to it,” Kelly said.

So just like you would in Canada, “go out and do the due diligence” before you buy, he said. “Don’t leave your brains at the border. Check out the property in person to make sure it’s what you want, rather than buying off the Internet.”

For financing, it’s cheaper to remortgage your Canadian property and buy with cash than get local financing. While there are international banks that will lend you money, they will charge more, he said.

David Ingram is a North-Vancouver-based former real estate agent who has made a career out of advising Canadians who want to buy property outside the country, and foreigners who want to buy property in Canada. About 6,000 people attended his seminars last year, an indication of the interest in offshore real estate, Ingram said.

The first thing to remember is, every country, and every state, is different, he said. So get the advice you need to learn the rules before you buy.

In Mexico for example, non-nationals aren’t allowed to buy within a certain distance of shores or borders, for reasons of national security. But that can be overcome by setting up a trust to purchase the property, for which title insurance is available.

Other things to think about are local laws relating to rentals. If the property is to be rented out, chances are tax must be paid on the rental income, both Kelly and Ingram said.

While owners may be tempted not to pay the tax, Kelly recommends against it. If you don’t pay and the government finds out, you will have to go through a hearing and the government could put a lien on the property.

“So it’s better to be safe than sorry,” Kelly said.

Don’t forget about visa requirements to stay in the country where you buy, Ingram said. While no visa is needed for the U.S., if you stay too long you may have to pay tax on your worldwide income. And if you’re not careful, you may lose your entitlement to your medical services plan; B.C., for example, requires residents to be physically present in the province for at least six months of the year.

“So get proper advice” before you buy, Ingram advises.

Dreadnought Team

Laura Barajas and Paloma Mestre form part of the Prudential Vallarta Real Estate team.  But that is not the ONLY team in which they participate.  They are also members of the only all-female sailing team in Mexico, proudly based in Puerto Vallarta.  Their regular practice, discipline and hard work have proven very successful for these 14 ladies, making this a very solid team, solid as a rock.

They are not merely all women competing on equal terms in a typically all male sport that make them outstanding, the CAPRI 37 Dreadnought earned rank last year in second place for Puerto Vallarta.

One of their goals is to compete with some of the best sailing teams in the world. They participate every year in the Long Beach Regatta, a dream made possible thanks to the support of their sponsors. Last year they won 4th place in this difficult competition.

At present, they are in first place in Puerto Vallarta and are fighting for the top position in the Mexico ranks.  The team is also preparing to compete at the Pan-American Games to be held in Jalisco in 2011.

Both women profess that the discipline and satisfaction from both real estate and sailing help them live the dream lifestyle they help their clients obtain every day!

Way to go girls!!  The Prudential Team is proud of you!

Lic. Gabriel Cuellar Álvarez y equipo de Prudential

Prudential agents from all three office locations received an update on the changes in fiscal law for 2009 by Licenciado Gabriel Cuellar Álvarez of Notary #12 in Nuevo Vallarta.

Seventeen of Prudential’s finest paid close attention to the information provided by Lic. Cuellar regarding requirements and documentation to formalize or transfer ownership, the differences between the transactions for foreigners and Mexican nationals, and agrarian law pertaining to requirements for regularization of Ejido land for titling.

Prudential Vallarta strives to keep agents informed of changes or additions to Mexico’s laws as part of their continuing education and overall commitment to the community in which they serve.

For more detailed information regarding the above mentioned topics, please contact the Prudential office in the Holiday Inn at (322) 226-2690.

Marilyn Newman is a real estate consultant with Prudential California Realty-Vallarta Division. E-mail her at marilyn.newman@prurealtypv.com.

This past Tuesday, the 30th of June, the three A.M.P.I. chapters of the area, hosted a Deloitte Touche seminar entitled “The Business Barometer”. The seminar was for all A.M.P.I. members and affiliates. The speakers, Harold Hoekstra, Horacio Navas and Jorge Zavala, spoke on the state of the real estate market and strategies for business administration during volatile times.

Special attention was given to business owners and tips were given out, on how to cut costs, increase productivity and survive in a challenging market.

The seminar was another opportunity for agents and brokers to participate in continuing education and to stay informed of leading factors in real estate, maintaining the level of professionalism required in today’s sophisticated market place.

For more information on A.M.P.I Riviera Nayarita, contact Elena at El Grupo de Bienes Raices (329) 298.1212 or for A.M.P.I Vallarta, Vanessa at 044.322.135.7421