Puerto Vallarta real estate always offers many, diverse activities for residents of the city.   Mexico retirement groups and foreign winter visitors enjoy participating in projects that protect and care for the areas nature and its creatures– one of Puerto Vallarta real estate’s most important attractions.  During the summer months there has been an increased focus on protecting newly born sea turtles.

In the months of June / July the nesting season for the Olive Ridley Turtle – the most common sea turtle in the Puerto Vallarta area – began; the season lasts until November.  The natural nesting cycle of the turtles includes abandoning the eggs for the 50 to 60 day incubation period, when the eggs hatch, and the newly-born turtles instinctively head for the sea.  While it is a natural part of the process that many are taken by predators, including seagulls, it is important to ensure that a large number arrive safely to the sea, since these turtles are a threatened species.

In Puerto Vallarta, there are various organizations devoted to the protection of these turtles, which provide opportunities for volunteers and retirement groups to take newly born sea turtles to the edge of the water and help increase their chances of survival.  The programs not only help prevent loss due to natural predators, but also make sure that swimming and other potentially disruptive sea activities are put on hold during the time that the turtles go to sea.  The volunteers are organized, with a line drawn at the edge of the ocean so they don’t accidentally step on the turtles others are releasing.

Many people who decide buy Puerto Vallarta real estate and make it either their permanent home or second home have already visited the area several times.  While many Canadians and Americans choosing Puerto Vallarta real estate do so for retirement, a significant and growing number of those who have grown to love Puerto Vallarta have shared one of the most special moments of their lives here; namely their wedding.

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.”

I went out this morning to help a client register and pay his annual car taxes, most of the Mexico real estate regions the car taxes are pays in the first three months of the year January, February, March After this first quarter, most municipalities will charge a penalty.

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. 

Prospective buyers form their opinions about your property within the first 15 seconds.  Therefore, you have to make your home as appealing as possible, as quickly as possible to the broadest clientele you can.  The new buyers need to imagine THEMSELVES in your property, living the good life.  Otherwise, they will not be interested in your property and you may never get an offer.  The first thing to do is make a good first impression.  Re-paint your front door and change the old hardware.  Place planters on either side of the door with flowers in vibrant colors that excite the senses.  Inside the entry way, make sure the paint is creamy white and fresh and the floors look great.  All you need for décor is a thin table, a lamp and a vase with fresh flowers.   Then get rid of the clutter.  All the newspapers, mail, laundry, personal photos, collections and knickknacks must go.  Take all the furniture out of the rooms and bring it back one piece at a time.  Only the items that are essential should stay.  And arrange them to showcase the view, not block it!  Streamline your kitchen counters.  You can keep the coffee pot, but put away the toaster, blender, dishes, storage tins and fruit bowl.  You want sleek, clean lines.  You want the buyers to think, “Wow, look at the counter space!”  And the views, DON´T block the views.  Once you get organized, keep everything neat.  Polish the floors and put on a fresh coat of paint.  The bathroom can never be too clean, so hide the shampoo bottles and get rid of the old bathmat.  Search and destroy odors.  If you can smell it, we CAN´T sell it.   Make your home feel as spacious as possible.  Closets should only be half full.  If buyers see a jam-packed closet, they will think it will be too small for them too.  Bedrooms only need a bed, night table, lamp and maybe a comfy reading chair in the master.  So get rid of the exercise bike and pair down your excess belongings.  Pull the furniture out a few inches from the walls, and make sure the corners of rooms are visible.  Next, you want to “lighten up”.  No, not you, your place!  Get rid of any big heavy curtains, and install sheer window coverings and pull them to the side wherever possible.  You want the buyer to come in and think, “I could live here, it’s nice and bright.”  Then find yourself a superstar agent who will spend some real time and effort marketing and selling your property.  Ask for referrals and get someone in AMPI and the MLS.  Finally, think price, price, and price. Because everybody wants to think they are getting a good deal right now.

The first thing is to ask the developer’s representative to accompany you on a “walkthrough” inspection of your new home in Puerto Vallarta.  During this inspection you want to make a written “punch list” of any damaged or missing items and note any repairs that are necessary.  You may want to start by reviewing all doors and windows. They should be well-fitted, easy to open, close and lock. The floor tile should be evenly laid with no high spots, cracks or scratches.  In the bathrooms make sure there are no chips in the bathtub, toilets, sinks and flooring. See that the cabinets are not loose, lights and fans work, and the caulking is applied correctly. Check for leaks. Open and close all the kitchen cabinets and make sure there are enough electrical outlets and they are working.  Counter tops, sinks, and appliances should not have any damage during the installation. Test all the appliances for proper functioning including the hood fan and light as well as the kitchen lights and switches. Check the paint job throughout and note any scratches, splotches or drops.  Then you want to review the cooling systems (air conditioning and ceiling fans).  Make sure they are all in proper working order and get the remote control units if these are included.  Next, locate your electrical breaker box and confirm there are enough circuits available and they are labeled.  Then check the hot water heater for proper function.  Turn on the hot water and check the temperature and the pressure.  Ask if there are main shut off valves for gas and water and note these locations.

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

I remember when I first started looking for property for myself down in Mexico. I will admit that I was pretty confident and made…quite a few mistakes mainly by trying to do various things on my own I was a strong believer in my own investigative abilities, I knew how to negotiate in Mexico, and I had seen my good share of various types of business contracts in Latin America But soon, after my solo property search adventures, several late nights of worrying about my money deposits, and various headaches from that first dreadful Mexico real estate purchase experience, I suddenly remembered that good old simple advise that my father and some business teachers had shared with me, “DONT STUMBLE OVER YOUR OWN PRIDE…ALWAYS SURROUND YOURSELF AND LISTEN TO PEOPLE WITH EXPERIENCE”.

Puerto Vallarta Real Estate slowed down considerably because of the global recession, then by the lull in tourism triggered by the swine flu travel advisory.  Although the global economic situation continues, Puerto Vallarta´s resilient charm and beauty are bringing the tourists back again.  This is good news for Puerto Vallarta Real Estate, showing that the city’s key industry is resilient and will continue to be strong.

Typically as part of the closing process, the utilities will be changed over to your name.  If not, ask the previous owner to sign a letter authorizing this action and then register the change with the corresponding utility.  Your electric bill will come every second month, and your telephone and cable TV arrive monthly. 

By: Jim Scherrer