By: Jim Scherrer

Ajijic – Chapala,  and Trip to Puerto Vallarta with Side Trips-

Wright Team News Letter- July 2010

AMPI is the Mexican Association of Real Estate Professionals.  Dedicated to raising professional standards and protecting private property rights, this organization was formed over 50 years ago and currently has a membership of over 1,000 companies and 10,000 professionals.  In the Vallarta area, there are three AMPI chapters, AMPI Vallarta, AMPI Riviera Nayarit and AMPI Compostela.  Currently there are no licensing requirements in place on a national level in order to regulate real estate brokerage and sales.  AMPI however, does have significant requirements in order to be a member broker.  Among them are:  one year experience working in real estate in the area, have a diploma from a certified AMPI course (100 hour minimum), show two commercial and one bank reference, proof of legal registration with the city and tax authority, two letters of recommendation by current members, take an AMPI test and orientation and be voted in by peers.  Additionally, foreigners are required to submit a diploma from a Spanish language course and immigration authorization in order to legally work in the country.  Associates are required to have valid work permit, a letter of reference from their broker, take a written AMPI exam and attend 40 hours of continuing education per year.  AMPI also requires members to follow a strict code of ethics that include articles such as:  “Knowledge of tax, legislation, improved use of land, planning and other real estate-related matters.”  “Keep abreast of conditions in the real estate market, because it is he or she who guides customers regarding the correct value of real estate, among other things.”  “Protect customers against fraud, abuse or immoral practices in the field of real estate.”  “Help prevent any acts that could harm the public, as well as any that could undermine the dignity of the real estate profession.”

Great question!  After giving this careful consideration, I have come up with a magic formula that will tell you the exact time to buy, right down to the day!  There are clearly some good buying opportunities right now.  Last year's global economic crisis, large inventory of available properties, and “swine flu” pandemic, brought fear and uncertainty in the marketplace.  Nobody wanted to be the one who “overpaid” for their home in paradise.  My experience is that sale prices here in general fell approximately 15 percent.  We are seeing a lot of buyers return to the market (December was one of our best months ever), but many sellers are still willing to negotiate in order to make a sale. 

The purchase of a home is likely the single largest financial commitment you will make in your lifetime.  When coupled with the fact that you are considering investing in a second home in a foreign country, it is imperative that you have a knowledgeable, experienced professional Realtor representing your interests.  The company you select to represent you in your  purchase procedure should be a member of AMPI.  

By: Jim Scherrer

By: Jim Scherrer

By: Jim Scherrer

By: Jim Scherrer,

By: Jim Scherrer

Boomers in Mexico, Puerto Vallarta real estate, Mexico real estate, retire in Mexico, Baby Boomers, International Living
By Jim Scherrer,
Let’s start out by assuming that you’re a pretty savvy investor; your 401k, IRA, or personal investments have kept up with the S&P 500 average during the past ten years and you’ve lost only about 35% of your life’s savings! Did you realize that the Mexican Exchange Traded Fund (EWW) which represents the Mexican stock market, even though it was annihilated during the current recession along with all other markets throughout the world (but is recovering rapidly), has advanced by 200% during the same time frame? In other words, $100 invested in the S&P 500 in 1999 would now be worth $65, whereas if it were invested in the Mexican EWW fund it would now be worth $200. Please refer to the ten year graph in order to see the comparisons between these two areas of investment and perhaps you can speculate as to where might be the best market to place your next bet!

By: Jim Scherrer
Fifty years ago, before John Huston brought Richard Burton, Ava Gardner, and Deborah Kerr to Puerto Vallarta, Mexico to film “The Night of The Iguana”, Vallarta was merely a sleepy little Mexican fishing village nestled in the foothills of the Sierra Madres along the shores of Banderas Bay on the Pacific Ocean. Although the population at that time was only a few thousand friendly natives, the magnificent climate and incredible scenery was so inviting that Richard Burton and Liz Taylor fell in love with the village (and each other!) and bought a couple of “getaway” homes on the hillside overlooking the city. 

By: Jim Scherrer

First, let's define Pre-Boomer; obviously it's before Boomer! The Baby Boomer Generation is defined as those born after World War II; generally between the years of 1944 and 1964. Consequently, the oldest of the nearly 80 million US born Baby Boomers are just now turning 65 years old.

The Pre-Boomer Generation is typically defined as those born during the 20 year period prior to the end of WW II or roughly from 1924 to 1944. There were approximately 50 million people born in the US during this time frame. These Pre-Boomers are considered to be of the Silent Generation (a bit of a misnomer!); sometimes referred to as the Luckiest Generation. Lucky because they were born immediately after the Great Depression, were too young to serve in World War II and probably the Korean War, and too old to serve in the Viet Nam War. Since 95% of these Pre-Boomers have already retired, they are also lucky to be reaping the benefits of Social Security and Medicare; benefits that may not be available to many of the younger generations. Unlike the Baby Boomers that have recently lost 25-50% of their life savings prior to retirement due to the current recession and mortgage crisis, the Pre-Boomers are lucky because in all probability, they were able to purchase their retirement residence and have conservatively invested the balance, thus preventing a serious depletion of their retirement savings (and they have fewer years to make their remaining savings last!).