Cabo Del Sol 1/3 acre Lot in beautiful Las Colinas, $1,850,000
Written by Cameron Boyle & Angie Potter on November 26, 2007 – 10:22 am -This Beautiful lot is located in the prestigious community of Las Colinas. Part of the master community of Cabo del Sol. This lot is 1/3 acre with gentle sloping. Perfect to accommodate your dream house, while enjoying the life of luxury! $1,850,000
Tags: cabo del sol, Cabo MLS, cabo san lucas real estate
Posted in Baja Real Estate, Cabo Land, Cabo MLS, Cabo Real Estate, Cabo Real Estate Listings, Financing Mexico Real Estate | No Comments »
Mexican Myths: Buying Baja Real Estate
Written by Cameron Boyle & Angie Potter on November 19, 2007 – 8:12 pm -In our time here doing real estate in Mexico, there are several questions that come up again and again. Two questions come up more consistently than the rest: Can foreigners own property in Mexico or is the land only leased? Are all transactions in cash or will US banks lend money for Mexican property?
The first question is loosely based on fact. It is true that the entire Baja Peninsula is considered a “Restricted Zone,” so foreigners can’t hold fee simple title. However, in 1971, Mexico established the bank trust (fideicomiso) to encourage foreign investment in Mexico. The bank trust is basically a work-around that allows foreigners to effectively own land in the Baja. The mechanics are fairly complex, but the result is that the title to the property is transferred to a Mexican bank with the foreign buyer as the beneficiary. The foreign buyer maintains all the rights of ownership, including the ability to buy, sell, lease, improve, transfer, etc.
Because of this legal construct, closing costs in Mexico are higher typicaly than they are in the US, usually adding between 5%-10% to the purchase price. But the bank trust has opened the Baja up for foreign investment, and business has been booming ever since. Cabo San Lucas is now home to a Wal-Mart, Sam’s Club, Costco, Home Depot, and Office Depot. There are over 400 realtors and hundreds of properties change hands daily in Cabo.
Will US banks lend in Mexico? Until recently the answer to this question has been, No. Most transactions since 1971 have been cash transactions with some builder financing. Fortunately, that has changed. Now, not only will US banks lend, but they will also cash-out refinance and loan against land for construction costs. Additionally, programs that have been staples in the US are gradually migrating south of the border. Currently, you can purchase with as little as 20% down. No-doc and stated income programs are also available for those with qualifying credit scores (typically above 650).
Cabo is golden, both aesthetically and for the investment-minded individual. Foreigners usually find they have significantly more buying power in Cabo and the options have never been more prolific. Don’t let some old rumors keep you from looking into things for your self. Find a credible Realtor and book a trip. You’ll be glad you came.
Cameron Boyle and Angie Potter are realtors for Prudential California Reality Cabo Gold Division. You can visit their website at www.goldencabo.com
Tags: Cabo MLS, Cabo Real Estate
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Vacationing In Mexico: Nuevo Vallarta
Written by admin on August 15, 2007 – 9:00 pm -Villa del Palmar Flamingos is located in Nuevo Vallarta, which is a sister city of Puerto Vallarta. The Mexican vacation rental resort sits right on the waterâ's edge, providing white sand beaches for relaxing and aqua blue waters for keeping cool. Guests staying at the Villa del Palmar Flamingos vacation rental resort will have plenty to do while on the property. Adults can swim in the dual level pool, snorkel, windsurf, take an aerobics class, or indulge in a spa treatment at the resort's European style spa. Some children will, of course, enjoy many of the "adult" activities but younger children tend to have much more fun hanging out with their peers. That's why, in addition to the activities above, the resort has a special kid's area, kid's pool, and a unique childrenâs program (ages 4 to 12). All of the kid-centric activities are designed to keep children busy having their own kind of fun in the sun. A number of other fun activities that both children and adults will enjoy are available not too far from the resort. The short list of activities includes horseback riding, fishing, boating, parasailing shopping, and golfing. With all that fun it's easy to work up an appetite and at Villa del Palmar Flamingos, guests have plenty of options on what they want to eat as well. Each vacation rental is furnished with a kitchenette or a full kitchen where guests can cook their own meals. There's a grocery store on the resort premises "or they can always "eat out" at one of the four on-site resort restaurants. There are a number of Mexico vacation rentals to choose from, especially in the Nuevo Vallarta / Puerto Vallarta area. However, few offer the 4-star quality at half the four-star resort prices like the Villa del Palmar resort vacation rental. Fewer still have so much to do for adults and children on-site. So if you're looking to vacation in Mexico and you want a great deal, Villa del Palmar Nuevo Vallarta is one of the best Mexico vacation rentals you're going to find. by Karen Lovendahl, Premier Beach Vacations Wake Up to Sea, Sand and Surf. Discover www.premierbeachvacations.com and deluxe vacations at gorgeous luxury resorts worldwide. Beautiful 1-bdrm Condo Suites - Only $999 per week, 2-bdrm (sleeps 6-8) Just $1,399.
Tags: Cabo MLS
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