This spacious and spectacular beachfront condominium is located in the beautifully manicured development of Playa Royale Residences at Paradise Village.  Situated in the most private building of the Playa Royale complex at the ocean front tower, this convenient ground floor condominium has excellent views of the Bay. It is offered turnkey and ready to be enjoyed and occupied with all of the  featured amenities:  discounts on the El Tigre golf course, beach club access and membership to the Sports Center. *Large wraparound balcony *Storage room *Deeded underground parking.

Price/Precio: $679,000 USD

Contemporary style one level house,  located at El Tigre Golf Course in Nuevo Vallarta, enjoy the tranquil atmosphere and swimming pool. Sports, social and Beach club amenities are part of the privileges of Villa Mariposas 116.

PRICE/PRECIO $499,000 USD

Keep in mind this season for your clients and friends even if they are only visiting for a short period of time. They have customized intense short courses as well and a salon catering to the kiddies to learn a new language! Cute!

 If you are out on tour with newcomers and want to show them a Vallarta experience, this is a great intro to all that Vallarta Mexico can offer. Use the school as a pit stop and get a complete tour from their adorable hostess Suzie. I was impressed and too bad I already know Spanish.

by Nicole Martin

More info on this fabulous place you must check out!

Spanish Experience Center

República de Chile #182
Col. Cinco de Diciembre
Puerto Vallarta, Jalisco
México, C.P. 48350

+52-322-223-5864 office
+52-322-222-1925 fax
info@SpanishExperienceCenter.com

]]> http://blog.prurealtypv.com/tourist/a-very-cool-spanish-school-in-puerto-vallarta/feed/ 0 http://blog.prurealtypv.com/prudential-vallarta/prudential-congratulates-the-martin-myska-family/ http://blog.prurealtypv.com/prudential-vallarta/prudential-congratulates-the-martin-myska-family/#comments Mon, 08 Aug 2011 16:40:57 +0000 nicole http://blog.prurealtypv.com/?p=2597

Congratulations to Kim and Petr on their lot purchase in La Pechuga!

Prudential agent Nicole Martin says. ¨My sister and her husband had been looking all over the bay for months to find the perfect property to build their family home¨ ¨When we came across this lot high above Puerto Vallarta in a neighborhood known as La Pechuga, there was no doubt about it. This was to be the site¨

Thank you to Maria O¨Connor, general counsel of Tropicasa and her seller Dean Ross who were a pleasure to work with!

Coming soon………Ground Breaking Party!

We have been living in Mexico for six to seven months per year for five years now. Prior to that, we vacationed in Puerto Vallarta often. Our first advice to anyone spending more than a short vacation in Mexico is to bring along lots of patience. Mexicans are very nice people who always want to help. They also don’t want to disappoint anyone so will give directions when asked, even if they don’t know how to get to the requested location or even understand the requested location. Just keep asking and you’ll get there.

Be ready for periodic long lines and bureaucracy at banks and institutions like Immigration. Their country has its way of doing things and they aren’t going to change for foreigners. It’s their country so why should they? They are automating many tasks so are moving ahead in that way, but old habits involving humans die hard. They also offer job security.

We love the food on Banderas Bay, from selected taco stands to gourmet restaurants and everywhere in between. Our favorite taco stand is in Old Vallarta, Mariscos Cisneros on Aguacate. Two brothers and their sister who speak English. They also have a full restaurant behind the stand. For a great sampling of traditional Mexican recipes at a very affordable price, go to Mama Rosa several blocks off the bay at 297 Leona Vicario. Twenty selections including beverages and desert for less than $10 at lunch. Moving out to Nuevo Vallarta, our breakfast favorite in Paradise Village is No Name Cafe. Great enchiladas suizas and omelettes for around $6. Dynamita on Paseo Cocoteros has mostly seafood in all forms and fashions, including some creative dishes. Lunch and dinner. Most meals under $12. They’ve got a burger if you must have one. Some other stuff too. For Italian, try La Dolce Vita or Porto Bello in Paradise Village. Porto Bello’s original location in Marina Vallarta is also still going strong as is the La Dolce Vita on the Malecon in Vallarta Centro. Porto Bello is the more expensive of the two. In Bucerias, seafood further north on the bay, El Brujo is hard to beat. Right on the road that parallels the water with seating overlooking the ocean. A location in Old Vallarta as well.

Bring patience, an adventuring attitude and enough money to eat like you want to. Prices are probably 20% less for fine dining and up to 35% less for more casual food than you would pay in North Carolina, our U. S. base. And most every restaurant uses purified water and ice so just ask for a glass and enjoy. We also suggest a Prudential agent if you decide as we did that life in Puerto Vallarta is pretty easy to get into. It’s casual which means a bathing suit and t-shirt or beach cover up, more formal means shorts and a polo for men. Rare is the occasion to dress more formally but keep a pair of khakis around.
Pat and Lynn have been Prudential clients for many years tended to by Broker Tere Kimball and Nicole Martin

There are many schools that Puerto Vallarta offers its resident locals as well as foreigners from all over the world, the majority Canadian and US citizens. Bilingual private schools, high schools or vacation schools for a quick course in Spanish can be found. A popular one is the Spanish Experience Center http://www.spanishexperiencecenter.com/ which caters to those with no skills and need to acquire the basics of Spanish or those who are already familiar and just want to refine their Spanish skills. This school is located in a beautifully renovated Mexican hacienda offering complimentary Wi-Fi access, a fully equipped kitchen, private showers so that you can rinse the salt and sand from yourself before class, a computer area, library, study area on the roof top terrace, 7 air conditioned classrooms and charming and professional teachers who offer education to their diverse group of students coming from all corners of the world.

For elementary school systems, I am the proud aunt of a niece and nephew, both trilingual (English, Spanish and Czech) who are Mexican Nationals. Their parents chose a charming school in the Gaviotas neighborhood called Instituto de las Americas Bilingue. Their educational level seems excellent and I truly enjoy visiting this facility to watch the concerts and events with the other children who seem as diverse in culture as mine.  If you enroll your child in kindergarten with no knowledge of Spanish, I can almost guarantee that after one season, they will probably be able to teach you the basics, sing the Mexican National Anthem and most importantly, the Pinata smashing song with the pride of a National.

So, if you are thinking of making a move to Mexico with young ones, teenagers, elderly parents looking to experience a new life and culture or you are single and are ready to learn a new language and meet new friends, Puerto Vallarta has something special that can enhance the lives of all.

This article is courtesy of Prudential Vallarta Office (52) (322) 226.2690 Toll Free 1.888.778.3639

At Prudential California Realty, Vallarta Division, we will work for your best interests.  We want to assure you that we will provide access to all of the properties and developments that are available for sale in the area.  Puerto Vallarta has an efficient MLS Systems, but some of the big developments are not included in this system.  However, we have full access to their inventories and can help you negotiate the best possible purchase terms.

We strive to work as a team with all of the more than 75 Puerto Vallarta real estate agencies affiliated to AMPI (Mexican Association of Real Estate Professionals) and we will do everything possible to make your property search a simple one.

Please take the time to read the following information in order to familiarize with the procedures involved in purchasing property in the Bay.

Your Prudential Vallarta sales professional, will guide you through the exciting process of scouting out areas and properties that will suit your needs, providing you with excellent relocation tips and the ins and outs of living in this fabulous area.  If you are a seller, please let one of our sales professionals  give you a listing presentation to promote and sell your property.

Please take some of the magazines, profiles and real estate publications provided at our reception and do not hesitate to contact your sales professional if you require any kind of information on any property for sale that you see advertised and that interests you.

Our job will be to provide you with the best possible service, always keeping the communication honest and your interests first.

Real Estate Information

OWNING PROPERTY IN MEXICO

Since 1974 foreigners (non-Mexican) have been able to purchase property with coastal and border boundaries through a “Fideicomiso Contract”, which translation is and has been “Bank Trust”, established with a Mexican bank. Foreigners may directly own rural or urban land in the interior of Mexico with certain limitations on specific agricultural tracts.

Bank Trust Ownership

The Bank Trust is established through a Mexican bank assuring foreign buyers of all rights and privileges of ownership.  As of 1994, the Foreign Investment Law allows these deeds to be established for a term of 50 years and to be renewable upon termination.  This process protects the rights of foreigners and makes sure that the transaction is legal and unencumbered.  For more than 30 years, many thousands of American and Canadian citizens have used the Bank Trust ownership system throughout the Bay of Banderas (Puerto Vallarta and Riviera Nayarit) and other Mexican resort destinations.

Title lnsurance

Buyers can easily get Title Insurance Coverage with several companies that work with properties in our area. If you wish to learn more, contact your Prudential Real Estate Professional.

Taxes

Property taxes have been low and remain low in our area.  Known as ‘Predial’ – yearly property tax – the mil rate is .0008% of the assessed value of the property, determined at the time of sale.  This tax is paid yearly in January or February to receive a 15% discount.  Property taxes have historically been low in Mexico because they have never been considered a major source of governmental revenue.  This tax law might change in the future.

The Closing Process

The closing process generally takes between 30-60 days (depending on the buyer and seller), with paperwork and escrow processes coordinated through our Closing Coordinator and close communication with the public notary (Notario Publico). Closing costs are paid by the buyer, with the seller paying; the cancellation trust fee, the applicable capital gains tax and the real estate commission (this last one is 100% deductible against the capital gains tax).  The seller must be always present at the closing.  In case the seller can´t be present, he/she will have to issue a POA to a person of their choice.   Buyers will only have to appear at the closing when accepting an existing Trust, otherwise, they don´t need to be present.  Your Prudential Real Estate Professional will keep you informed about this on a timely fashion so you can be prepared. Power of Attorney can be used in any transaction.  Our team will keep you informed at all times about what is needed for the closing.  Our job is to simplify the process and to ensure that each and every transaction takes place with the least amount of stress.

Maintaining Your Property

For condominium owners, common area maintenance and security is handled by each building’s Condominium Owners Association (HOA), with fees paid usually monthly or quarterly.  Homeowners and condominium owners, who will be away from their property for any length of time, may want to consider and hire an external property manager.  Prudential doesn’t offer this service but may be able to recommend some property managers.

Insurance

Various types of insurance — including personal belongings, flood, fire and earthquake — are all ready available in our area at a reasonable cost. All types of policies can be written to pay claims in U.S. dollars.   Your Prudential Real Estate Professional will have recommendations on several of the strongest and most reliable insurance companies in the area and can help you set an appointment.

Financing

Real estate purchases in our area are commonly cash transactions but more and more there is now financing for foreigners.  To learn more, please ask your Prudential Real Estate Professional.

Rental Potential

In Puerto Vallarta and the entire Bay of Banderas, there is a very strong rental market for both homes and condos.  Our Prudential Rental Manager can provide a full range of rental services for your property. Quality properties, which are competitively priced, can expect to rent at least as well as good hotels, which average occupancy of 50 to 60%.

Value vs. Price

The question most asked by a foreign purchaser is “Will my property increase in value?”  Short-term property speculation is not a concept that can be readily applied to the Mexican real estate market.  Traditionally, buyers have purchased properties in our Bay as a second home, retirement or future retirement purposes or as a pure investment and not to increase personal wealth through speculation. In most cases it is necessary to pay all cash, in some cases with seller financing and now through some loans available to foreigners.

“Am I getting a good deal?”  The answer is yes – if you compare what money will buy, in relative terms, to the housing market elsewhere (outside of our area). Remember that a buyer’s concept of ‘value’ and ‘price’ here in Mexico encompasses more than mathematics: it includes natural beauty, weather, safety, cost of living, and quality of life.

Making An Offer.

What to know about making an offer on a potential property.

You’ve found the property you want.  Let your Prudential Real Estate Professional advice you on the price to offer.  We are always ready to listen to your requests but you have to remember that we live and breathe real estate in the area, and we will give you our opinion on the matter.

Your Prudential Real Estate Professional will advise and guide you throughout the whole process.

Be prepared to counter. Don’t let the pressure get to you. Remain patient, and let your Prudential Real Estate Professional act as your liaison with the seller or the seller’s agent. You may need to be flexible on price, closing date, and other issues like appliances and repairs.

Contingencies

Contingencies are very common even in this market but frankly if they are not justifiable, they will weaken your offer. However, if you currently own a home, your offer may need to be contingent on it selling. Or, if you’re uncertain about the structural integrity of the home, you may want to have a home inspection contingency. Just be aware any contingency could take you out of the running if a non-contingent offer is presented.

Earnest Money Deposit / Escrow

Once your offer is accepted, be prepared to seal the deal with earnest money deposit. This deposit is usually a percentage of the home’s purchase price that indicates you’re serious about the purchase and indicates your good faith (in this area commonly the deposit is 10% of the purchase price). This deposit is always applied to the purchase price at closing and it is always sent to an Escrow account.  If making an offer, your Prudential Real Estate Professional will advise you and will take care of everything.

Purchase – Sale of Real Estate

Steps in the Process:  The procedure can be predictable and safe in Mexico – as it has been for many thousands of American and Canadian buyers in Puerto Vallarta since 1974.

Once you have chosen your property;

1.-  A written contract/offer is signed by the buyer and presented to the seller; if accepted, your Prudential Real Estate Professional will assist you in opening an Escrow account.  You will have approx. 48 to 72 hours to send the deposit to the Escrow account.

2.-  Once the seller accepts and signs, it means he/she has accepted the offer with all the conditions stipulated on it.

3.- The closing costs, (including the notary’s fees, the creation and preparation of the Fideicomiso Contract (Bank Trust), the Foreign Ministry permit, Foreign Investment Registry,  Public Property Registry, Bank Trust Acceptance,  Bank Trust fees for first year, appraisal and other miscellaneous expenses)  must be paid by the buyer.  Half of the total amount of the closing costs should be paid to the Notario (Real Estate Lawyer) in advance in order for his office to start with the preparation of the closing documents.  The remaining closing balance should be covered 24 hours before the day of closing or at the closing.  If you plan to be at the closing, bring your check book or send the funds to the Escrow and they will disburse them to the Notario at closing.

5.-  Both parties shall provide all legal documentation to the Notario.  This is taken care by your Prudential Real Estate Professional.

6.-  Once the Notario has completed all the paperwork we are now ready for the closing!

7.- Your Prudential Relax Estate Professional jointly with Prudential´s Closing Coordinator, will arrange for the appointment at the Notario´s office and will advise you accordingly.

8.-  It is advisable for the buyer to deposit the remaining balance in the Escrow account, at least 48 hours prior to the closing date.

9.-  Prudential´s Closing Coordinator will prepare the disbursement letter (instructions to the Escrow) and this letter will have to be signed by both parties.  Once the closing has taken place and was successful, the Notario will send via fax the letter to the escrow company in order for the funds to be released to the parties.

10.- On the day of closing, please arrive on time. The Bank trust legal representative may be there (not always), the Notario, the seller and your Real Estate Professional should all be there.  Seller can be represented if he issued a POA.  Buyer’s don´t need to be present if they are acquiring through a new Bank Trust (Fideicomiso Contract).  If they are acquiring the property through a cession of rights from an existing Bank Trust, they will have to be present or also have issued a Power of Attorney.

At the time of closing, The Notario will provide you with a simple copy of the deed / title  for your files.  You and the Notario go through the important portions of the deed / title including verifying that all of your names are spelled correctly.

Once an agreement is reached, the document (deed) is printed in the “folios”, numbered sheets and then sent to get registered.

11.- The new deed/title (Escritura) is then sent to the Public Property Registry to get recorded and stamped.  The Notario will deliver a simple copy to the parties at closing.  The original deed / title (Escritura) could take as long as 120 days to be registered.  As soon as it is received by the Notario, then the original will be delivered to the buyer.

CONGRATULATIONS, WE HAVE CLOSED AND THE PROPERTY IS YOURS !!!

This article is courtesy of Prudential Vallarta

“FIDEICOMISO CONTRACT”

While many aspects of buying a home in Mexico look and feel like buying a home in the United States or Canada, you should remember that you are purchasing property in a foreign country. The manner in which you will acquire the property in any of Mexico’s restricted zones (borders and coast) will be definitely different from what you are used back home, it is not better or worse, it is just different.

You probably have heard about the bank trust system or the Mexican “fideicomiso”, and the “restricted zone”. This specifically refers to a distance of 62 miles from the borders and 31 miles along Mexico’s coast line.

For historical reasons, the Mexican Constitution of 1917 prohibits any and all foreigners from holding “fee simple” property title to property located within 62 miles of its borders or 31 miles of its coastline. Back in the early seventies the Foreign Investments Law, in order to avoid simulations and frauds, allowed Mexican corporations even with foreign capital to own direct title to property for commercial purposes but still restricted direct title (fee simple) ownership for residential purposes (ACTUALLY UNTIL 1994 WHERE THE REFROMS PUT INTO PLACE THAT ALLOWED MEXICAN COMPANIES WITH FOREIGN INVESTORS TO HOLD FEE SIMPLE TITLE TO LAND IN THE RESTRICTED ZONE. PRIOR TO THAT IT WAS PROHIBITED FOR ANY PURPOSE. From those days up to the present the Mexican bank trust system was designed and encoded into law to permit foreigners (physical persons and Mexican corporation with foreign investment) to acquire and enjoy legal and safe ownership and possession of property within the “restricted zone” for residential purposes in a manner consistent with constitutional provisions.

Usage of a Mexican bank trust (fideicomiso) allows non-Mexican nationals to acquire property in the “restricted zone” by placing the real estate property into a bank trust held by a Mexican bank which acts as the Trustee or Fiduciary. The Mexican bank’s, as trustee or “fiduciario” hold the title so that there is harmony with the constitutional provisions. The trust agreement that governs the manner in which your property is managed stipulates that while the Bank acts as title holder, you are the beneficiary of the rights held in trust and only you can enjoy and dispose of the property (enjoy, rent, remodel, sell, etc.)  The title is held by the bank and you have all the beneficiary right to the property.. The beneficiary of the trust is the purchaser of the property –you are the beneficiary. The Fiduciary Bank is paid an initial fee for the Trust Contract and subsequently you as “the beneficiary” have to pay an annual trust maintenance fee. The Fiduciary Bank or trustee is prohibited by the trust agreement and by Mexican law from transferring the property or the beneficiary rights to the property without your expressed written instructions.

We are happy to walk through the steps. We are a full service real estate office. We like to maintain our ability to give you personalized service.

This article is courtesy of Prudential Vallarta

www.prurealtypv.com  info@prurealtypv.com

This video is dedicated to German Golfman Serafin Notary #10.

Puerto Vallarta, Mexico – The ocean’s wonderful sights and smells and the peace of living or vacationing along Mexico’s 6,000 miles of coastline is a powerful attraction for foreigners. But before purchasing vacation property or a retirement home on or near the beach, there are a few important legal and technical matters to keep in mind.

In this second episode of Realtor 365, Nicole Martin walks you through Mexico real estate closing procedures, and interviews local notaries German Goldman notary #10 (Rest in Peace Dear German) and Jorge Carreaga notary #2, both of Nuevo Vallarta. She also talks with lawyer David Connell, who explains the usage of the Fideicomiso, or Mexican bank trust.

Nicole Martin is a sales executive with Prudential California Realty-Vallarta Division. She can be contacted at nicole.martin@prurealtypv.com

PromoVision Video Production: Willy Flores and Ray Dion can be reached at info(at)promovisionpv.com. For more information, visit PromoVisionPV.com.

Pero antes de comenzar quisiera preguntarle: ¿Si va a construir una casa, lo hace usted mismo o contrata a un ingeniero y a un arquitecto?, ¿Si se siente enfermo va con su vecino a pedirle que lo diagnostique o prefiere ir al médico?

A continuación encontrará alguna de las múltiples razones por las que es altamente recomendable acudir con un Profesional Inmobiliario.

Experiencia y Conocimiento

La contratación de un profesional inmobiliario, deberá ser una persona con conocimiento total del área y de preferencia que tenga experiencia en lo que hace.  Cuando se combinan los servicios que ofrece una persona capaz y una empresa reconocida en el mercado, le harán la vida mucho más fácil a la hora de comprar o vender una propiedad.

Mercadotecnia

Si piensa vender una propiedad, una de las mejores razones para acudir con un asesor, es que este le ofrecerá un plan de comercialización y promoción adecuado y personalizado que cubra todas las áreas necesarias para promover su propiedad, incluyendo múltiples servicios que van desde señalamiento estratégicamente ubicado, publicidad impresa en medios especializados locales, así como el internet (páginas web), base de datos, referidos, contactos con clientes interesados en propiedades con las mismas características que la suya, etc.

Valor

Si bien es posible que pueda tener una idea de lo que está pasando en el mercado inmobiliario de nuestra área, la contratación de un especialista es la mejor manera de asegurarse de que su propiedad se compra o se vende sobre la base de los comparativos reales del mercado local. Si desea vender, le proporcionará un análisis comparativo del mercado con propiedades similares a la suya, recuerde que conocer su competencia es la mejor forma de tomar la mejor decisión. Para los compradores, se dará a la tarea de buscar para usted las propiedades en el rango de precio que busca y las cuales ofrezcan las mejores características.

Negociación

Cuando llegue el momento de reflexionar, contestar una oferta si es usted el vendedor o de preparar una oferta si es usted el comprador, un profesional inmobiliario es la mejor manera de garantizar que las negociaciones se realicen exitosamente. El profesional inmobiliario actúa como intermediador y este se asegurara que usted obtenga el mejor resultado de la forma más eficiente.

Papeleo

Existen muchos documentos para llevar a cabo una transacción inmobiliaria con éxito. No importa de qué lado este usted, necesita a un experto que tenga el conocimiento, las relaciones y contactos con las Notarias y otros proveedores de servicios para llevar a cabo la operación con éxito.  Su profesional inmobiliario lo estará asesorando en cada paso a tomar para obtener el resultado final que es la venta o compra de una propiedad.  Su labor no termina hasta que se cierra la transacción con éxito en las oficinas del Notario Público designado para la operación.

Cierre formal

Cuando llegue el momento de acudir al cierre ante Notario Público, el profesional inmobiliario se asegurará de que no solo obtenga el mejor trato, sino que comprenda todas las implicaciones financieras y jurídicas de la operación. El proceso de cierre que es la culminación de la transacción  debe ser un momento para celebrar. El profesional inmobiliario le explicará detalladamente el proceso para que el resultado sea el esperado y no haya tropiezos en el camino.

Base de datos y Redes

El profesional inmobiliario tiene una red de otros profesionales inmobiliarios que puede aprovechar para ayudarle, si es comprador, a encontrar la propiedad que busca y si es vendedor, para encontrar posibles compradores para su propiedad. Si bien usted puede ser capaz de aprovechar a sus amigos, compañeros de trabajo y la familia para que le ayuden en este proceso ya sea de compra o de venta, la comunidad de la industria inmobiliaria del área cuenta con una asociación nacional y local AMNPI (Asociación Mexicana de Profesionales Inmobiliarios) la cual tiene 3 capítulos en nuestra región (Puerto Vallarta, Riviera Nayarita y Compostela) trabajando para los intereses de las personas como usted.

Este articulo fue escrito por Araceli Rios / Agente de Ventas Prudential

araceli.rios@prurealtypv.com