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Channel: Real Estate News – The Baja Citizen

Are You a Foreigner With Assets in Mexico?

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Take Advantage of the Mes de Testamento in March

By Gisela Talamantes Saenz

During the months of March and September, the College of Public Notaries of the State of Baja California Sur reduces their fees by 50% for granting wills. Also, some Notary Public offices will extend their working hours to the public in order to facilitate the granting of wills during these two months.

 WHAT IS A MEXICAN WILL? 


The Mexican Will is a legal act where an individual leaves written instructions for his/her assets, property, rights and obligations after death, appointing heirs, executors, tutors, and beneficiaries.

In Mexico, the will is revocable, meaning that at any moment the individual may grant a new will, automatically cancelling the previous Mexican Will granted. It is a personal meeting; wills cannot be granted by a legal representative, through a power of attorney, a family member or a friend.

Foreigners may own real estate property in Mexico through the Mexican Fideicomiso or Mexican corporation. It is important to highlight that if a foreigner holds Mexican shares/stocks, granting a Mexican will may save his/her heirs from having to initiate an intestate proceeding before the Mexican family court or to homologate a foreign will in order for the court to appoint the new beneficiary of shares or stocks within the Mexican corporation. Both of these proceeding can be expensive and cumbersome. Let’s remember that the Mexican Fideicomiso includes a substitute beneficiary clause, therefore your beneficiary rights and those of your heirs are protected. With the figure of the Mexican corporation, there is no substitute beneficiary clause, therefore the Mexican will is the best legal tool to appoint beneficiaries of your shares or stocks and protect the real estate property acquired through Mexican corporations.

Also, very important, per Mexican law; the Mexican will follows strict formalities, therefore, the Notary Public must be very careful if the testator is a foreigner who is not proficient in the Spanish language. If this is the case, the testator must be assisted by an interpreter or an official translator that will also sign the will together with the testator before the Notary Public.  Without following the formalities outlined by the Mexican Civil Code, the will is subject to be challenged in court and nullified by parties holding an interest.

Baja Legal Solutions offers translation and interpreting services to help you grant your will, making sure there is no confusion with the Notary Public and/or his/her staff on the instructions you provide when granting your will, thus, protecting your heirs and Mexican assets.

 WHAT TO BRING?

  • Current passport.
  • Immigration document.
  • Copy of your property titles or corporate documents in case you want to leave specific assets to different individuals.
  • It is important to understand it may be difficult for your loved ones to deal with your estate if you do not have a Mexican Will. Foreign property owners should consult a Mexican attorney regarding their estate planning to help ease the burden of undue stress and expense for your family.

Gisela Talamantes Saenz, LL.M, Attorney at law and Official Translator. She holds a master’s degree in International Legal Studies from the Washington College of Law at American University in Washington DC.

 

 


Time to Sell Your Real Estate Property in La Paz?

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Here is a practical guide to help sell your house or lot as smoothly as possible.

By Sandra D. Gaytán

Many home or lot owners in Baja California Sur get to the moment when they realize it is time to sell their property. Making the decision to sell property can be for a number of different reasons. Regardless of what the reason might be, it is very important that the sellers are ready for when the time comes.

 

The following is a practical guide to get yourself ready to sell your property and to have a smooth closing:

  1. Locate the original public deed for the fideicomiso (Mexican Bank Trust) on your house or lot.
  2. Make sure that your passport is valid and that it will not expire anytime soon. If your passport is about to expire, apply for the renewal as soon as possible.
  3. Make sure that you have your immigration document in order (Permanent or Temporary Resident Card or Tourist Visa).
  4. Pay any outstanding property taxes to the treasury department of the City of La Paz.
  5. Check with your Bank Trustee (the bank that is holding your fideicomiso) that all bank trust fees are paid.
  6. Make sure that all services, such as electricity, water or telephone are paid and are in the name of the seller.
  7. Obtain an estimate for capital gains taxes from the Public Notary so you know in advance how much in taxes you will need to pay as the seller.
  8. List your property with a local realtor that you trust, and remember to sign a “Listing Agreement” where you establish all the terms and conditions, such as selling price, percentage of sales commission and the duration of the listing agreement, which can be for 6 months, 1 year, 2 years – it is your choice.
  9. Have your local realtor take amazing pictures of your property and to include it on the MLS (Multiple Listing Service), so all realtors can have access to the listing. This will increase the possibility of having offers on the table faster.
  10. If you are planning to be away from town when the closing occurs (final signature before the Public Notary) sign a “Limited Power of Attorney” to a person of your complete trust, so he/she can represent you at closing and sign all the paperwork on your behalf.
  11. If you are selling a property as a “Substitute Beneficiary” and not as the owner recorded on the fideicomiso, inform your lawyer so you can immediately start the process called “Acknowledgment of Beneficiary Bank Trust Rights” or “Reconocimiento de Derechos de Fideicomisario Sustituto”.
  12. Have a licensed lawyer review your paperwork to make sure that everything is in order. This is the only way you will be 100% confidant and ready to sell your property once you get an offer from a potential buyer.

 

Sandra Gaytan is a bilingual licensed lawyer, with a master’s degree in tax law. She is currently a junior partner at Gaytan Legal Services in La Paz.

South Baja Realtors Celebrating a Decade in Business!

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TBC

October 8th is a very special day for Victor Granados and his wife and business partner, Edith Gonzalez. They created South Baja Realtors on this day in 2008. Celebrating a decade in business in no easy feat, especially a real estate business that was founded in 2008.

“We started South Baja Realtors 10 years ago in a really hard time in La Paz. It was 2008 and the real estate market was dropping. I think it was just a few days before we opened our doors that President Bush addressed the United States about the financial crisis. Things were very complicated. We ended up having to reinvent ourselves, change our expectations and focus on a completely different market than we had set out to do during that first year,” Granados explained.

“But little by little, we had sales and happy clients and we just kept growing and moving forward. I am really proud of what we have accomplished with our real estate family,”

Prior to going out on his own, Granados worked for a local real estate office in La Paz and in that short time, he developed a solid reputation in the industry, which he was able to carry over to his own business. His knowledge of the local real estate market, his cooperation with other real estate agencies and his ability to motivate others to generate sales and prospects are well known in the community.

Granados and Gonzalez are as down to earth and genuine as they come. Their honest business practices along with their tireless efforts to serve their client, has brought them well earned business opportunities and partnerships in the industry.

But Granados doesn’t like taking all the credit and insists it is the people around him who have helped South Baja Realtors get to where it is today. “My team brings energy and experience everyday to the office as we go for 10 years more. I appreciate them very much. We closed a very good year last year. This year looks like it will be even better and we just need to continue with that momentum.”

Granados, Gonzalez, along with their team of real estate professionals that includes Rosario Caballero, Belen Lopez, Monica Lopez and Juan Ceseña know that buying and selling a home, or even renting, is a major undertaking, especially in a foreign country. By applying their skill, care and diligence, they will make the process painless and enjoyable. South Baja Realtors are ready to show you everything La Paz has to offer.

Don’t hesitate to find out how Granados and South Baja Realtors can help you with your sale, rental or acquisition of property in Baja California Sur.

South Baja Realtors

Alvaro Obregon (malecon) 774-A

Between Allende and Juarez

612 123 5434

La Paz, BCS 23000

www.southbajarealtors.com

The Vacation Rental Revolution: Real Estate in the Times of Shared Economy

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By Anabelle Rossell

Many years ago I asked my former boss, “Why does La Paz not have more flights coming into town?” I remember he replied, “It´s because the airlines say La Paz does not have enough hotels where to accommodate travelers. Therefore investors do not want to build more hotels because there aren’t enough flights to La Paz.” Turns out here in La Paz, we were living a modern case of which came first, the chicken or the egg?

Enter the sharing economy revolution in the late 2000s: Private homes all over the world became homes to others. Suddenly if you owned a house/apartment/couch you could have an extra income providing hospitality at your on pace, under your own rules with leading pioneers in the industry like Airbnb.

Fast Forward to 2018: Airbnb has a record 6,000 accommodations in BCS with 700 active rentals in La Paz (just in the city according to Google Maps). That´s our local rental inventory with an average of 4.5 out of 5 stars quality service, a 49% occupancy rate during high season and a 78% growth rate since the first rental home was listed in 2010. Not bad for La Paz, uh?

So what happens now that it seems pretty much everybody has an Airbnb for rent? Should you buy to rent? Is it profitable to invest in a rental property? If so, where and how much? Should you hire someone to manage your properties considering all the technology at hand?

Enter the rental property manager/realtor/daily miracle multitasker. I´m serious – not joking at all. Realtors that perform property management on a daily basis in La Paz are badass. A different kind of breed, the Chuck Norris of Real Estate!

Go ahead and talk to one and ask innocently, “Hey, what’s the toughest situation you have dealt with?” You will get an instant deep snort and eye roll and they will try to pick just one.

I have been in the real estate industry since 2005 and I have learned that when investing in Mexico, you should talk to a lawyer, a notary, an accountant AND I can tell you for a fact you should talk to a property manager – realtor. Why?

1. We are neighborhood specialists: We know the good, the bad, the funny, the ugly and the Lord have Mercy of most of the communities in town (again not joking). We know the community managers, rules and the CCR’s. We know the neighborhood/neighbors, the cost of utilities, the quality of construction and developers guarantees. We also have a strong network of contacts to assist owners, guests, buyers and sellers to assist with every personal inquiry.

2. We know the rates and profits: Most AMPI La Paz agents use the MLS for local real estate knowledge and attend local open houses and property tours. We work with several rental platforms for market analysis and rental trends and even software to analyze vacation rental revenue per property. Since most of the city has an average rental rate income we know the rates, expenses and profits in it according to season. You will not become rich renting homes in La Paz but it will definitely help with your fixed expenses and may give you some additional income to enjoy.

3. Clients and guest screening: Since we get to know a lot of people on a daily basis, we get pretty good at screening clients and avoiding those problem people. The time we invest in checking references is the time we will save in the end. I have had my fair share of being screamed at when we´ve refused to rent as we are committed to represent our property owner’s best interest. The owner has his/her own house rules and he/she has the final word.

4. Quality Home Maintenance and Inspections: We like to make sure everything is working in each one of our homes and we have the right contacts that will not keep us waiting for mañana. Maintenance is probably the hardest part of this job. A professional home maintenance checklist has 68 tasks plus an inventory list to be reviewed before delivering a home to their new guests. A strong quality construction dutifully inspected means less time/less money invested in your property = more income for you.

5. Customer Service: Shared Economy is based upon collaboration aka experiences. Therefore, we listen carefully to what you need to provide buying/rental solutions. The more unique and respectful experience (this works both ways) you can offer when it comes about vacation rentals, the more bookings/guests/reviews you can have when competing against 699 properties on the same platform.

6. Technology: Technology has a good and an evil side. It will definitely help you accomplish more but it will require a lot of time to answer your booking inquiries with immediate responses.

Sounds like a lot of work and info to digest? Yes. A lot of time and energy to invest? Yes, we know. That’s why when buying or selling a home or entering the rental market, hire a property manager. They provide true local experience and knowledge on a daily basis that has become, now more than ever, so important.

A realtor since 2005 and rental & property manager since 2016, Anabelle is a runner, amateur baker, mother of 2 dogs who along with her sister and partner Stephanie own/operate a kick ass local team managing 50+ properties in La Paz and La Ventana with over 350 reviews on Airbnb and other platforms.

La Paz: Something for Everyone

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By Victor Granados

I have dedicated the last several years of my life to the service of tourism and in between hotels, airlines and restaurants and directly in the attention of visitors, I had been able to gain a certain perspective of what people thought about my hometown of La Paz and the state of Baja California Sur.

Because of destiny, 13 years ago I dove into the real estate industry and I have never really looked back. I have had the opportunity to meet wonderful people through my work, people who have been adopted by the city and in turn, feel just as a part of it as I do. La Paz continues to provide a high quality of life no matter which stage of it you find yourself in. Whether you are still working, semi retired or retired, La Paz can be the right fit for you.

Even now, in the year 2019, La Paz still hasn’t lost its small town charm even though it mostly has the services and infrastructure of a first world city. Because of this, La Paz has stayed unique. But La Paz is La Paz because of its people, its beaches, its enigmatic desert, its pueblos magicos and its unexplored territories. But more importantly, all of this splendid beauty is within reach for all.

Just as La Paz has so much to offer, so too does the real estate market here in the city. La Paz is highly competitive with other destinations in the country, and as I tell my clients and friends, when buying real estate, everything depends on the lifestyle you would like to enjoy. To date, we have excellent developments with golf courses, marinas, vertical condominiums, new homes, older homes, among many other listings on the market! The thing is, I’m fairly sure that La Paz has something for you.

If you love to wake up in the morning and take a walk through downtown or the malecon, drink coffee on a sidewalk cafe, visit an organic market or take in a gourmet restaurant at night, your area is definitely downtown La Paz. A house or an apartment for you we will be able to find, with a price range that varies.

 If your interests lean more towards enjoying the views of the city, the sea and the desert, La Paz has all of those places, too.  La Paz’s natural environment allows us to be surrounded by hills that give us incredible views of the Bay of La Paz as well as offering us desert backdrops and the lights of the city at night.

La Paz is still home to a wide range of listings with varying price points. Again, and most importantly, you must envision the lifestyle you want and from there, start your dream home search because La Paz will have what you are looking for.

What is very true is that La Paz, without a doubt, is the place where having your retirement home or an apartment is very simple to accomplish and the doors are wide open for any budget. Talk with your real estate professional and I am sure La Paz has something that you may like so that you can be a part of this amazing city very soon!

Victor Granados
was born in the State of Chihuahua and moved with his parents to La Paz when he
was only 11 years old. He married a local paceña 22 years ago, Edith. They have
one beautiful daughter, Michelle.  Victor
is the owner/broker of South Baja Realtors, a local real estate firm, which
just celebrated 10 years in business – www.southbajarealtors.com.

Are We In a Seller’s Market?

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By Heather Borquez

In my opinion and in the opinion of many of my colleagues, La Paz is in the beginnings of a mini boom, perhaps even a bit of a seller’s market.  Tourism is up, numbers are up, inventory of properties is down and many more people are looking for properties.   Homes are selling!  I am not talking about the mega boom places such as Vancouver experience, but rather a much stronger market than we have seen in La Paz for quite some time.

It is clear La Paz has been ‘discovered’.

Recent articles in Forbes and Entrepreneur magazines have been touting the charms of La Paz so if we weren’t discovered before, we surely will be now.  And all of that is good for business.

Forbes says, “to forget about Tulum and Cancun and to come to Baja and in particular to La Paz, the little gem that sits on the Sea of Cortes side of the peninsula, because this is a place that has been drawing people ‘in the know’ for years… because La Paz is a place for travellers, not tourists” Of course, we, who are already in the know, have known that for years, but it is still nice to hear it confirmed.

Entrepreneur magazine recently stated that La Paz, BCS was one of the best places in Latin America to start a business.  Being a capital city and in a place where all kinds of services are needed, especially in the tourism industry, entrepreneurs have a real chance at success.  Overall economic growth in the State of BCS was 17% in 2017 and 18% in 2018… all of which bodes well for the state and its population.

So how has this affected the real estate market? 

It is a little hard to be definite with our numbers, as many sales take place outside of the MLS system and its data.  But if we look just at MLS data we see the following positive trends in our market:

  • Average house prices have climbed from USD 114,000 in 2017 to USD 149,000 in 2018. 
  • Absorption rate has changed from 30 months in 2017 (to absorb all the available inventory) to 23 months in 2018
  • Median sale price went from $134,000 USD in 2017 to $158,000 USD in 2018 (a 17.9% increase)
  • Number of sales are up too … and inventory is down.  In 2017 we had 131 sales, while in 2018 we had 171.  2019 is off to a strong start and we expect continued strong performance this year.

So while we aren’t in a BOOM market, we are certainly going strong, and if people want to list their properties, now would be a good time to do it.

Heather Borquez is a resident of La Paz and a realtor with Diamante Associates.  She can be contacted by email at heather@diamanteassociates.com or by telephone at 612 157 1984.

Building in Baja: A Practical Guide to Building your Dream Home in La Paz, BCS

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By Jim and Rebecca MacDonald

A hilltop home with panoramic ocean views.

A quiet bungalow just steps from the beach.

A remote, eco-friendly home powered by solar panels and rainwater.

Whatever your vision of a dream home looks like, chances are you can build it here in Baja. While there are definite differences in construction style and approval requirements, the process of building a home in Mexico is not that much different from building in the US or Canada. Some things that will help make your project a success include: the right location, a reputable builder, and a detailed plan.

Choosing the right location to build your dream home is the first step. Following are three options to consider, depending on your lifestyle needs.

Build in a Master Planned Community

Building any new home involves a lot of detailed planning and research. Choosing a lot in a master planned community can help take away some of the guesswork. For example, most planned communities have already subdivided the lots and have drawings of what the community will look like when it’s finished. Utilities and other services are usually obtained by the developer, saving you the trouble of finding out whether your lot has access to electricity, water, Internet service and so forth. Amenities like a community pool, clubhouse, and security may also be included.

Master planned communities may also offer a number of pre-planned models and floorplans, again making decisions easier. Others may allow you to build your own custom home, but require that you adhere to specific architectural and construction guidelines. This ensures the community retains its unique character. There may even be specific builders who are approved to build within the community, giving you additional confidence in the process.

If the community is a “privada,” or private community with restricted access, there will likely be a homeowner’s association (HOA) with rules and fees designed to keep the community secure and well-maintained. Read the bylaws and talk to the developer before you purchase your lot. If you can, try to meet some of the people who have already purchased and built homes in the community to learn what it’s like to build and live there.

Build on Your Own Private Lot

Looking for a home site with more flexibility and fewer restrictions? Building on your own private lot gives you the opportunity to build your dream home exactly as you envision it. Your real estate agent can help you choose a lot that’s right for the home you want to build, and the right builder can help you create a design that takes into account your lot’s elevation, slope, drainage, wind, and any protected species. Other things to consider: does the lot have access to local utility services? If not, can your lot be added to their service? Is there a clear title? Are there any zoning or environmental requirements that will affect what you can build? Your real estate agent can help you with that process, and will work with a real estate attorney and a notario to ensure you have clear and legal ownership of your lot.

Build “Off the Grid”

If your dream home involves solar panels, rain barrels and a garden full of produce, perhaps a more remote, eco-friendly option is right for you. While many areas along the coast are protected, there are several spots in Baja California Sur where it is possible to build your off-grid home with ocean views. If your chosen location doesn’t include electric service, you’ll likely use solar panels to power your home. There are several solar companies in Baja, and a good solar system with battery storage can run $8,000 to $10,000 US. You may also be able to arrange for water delivery to your home. The typical water truck carries 10,000 liters, so you’ll want to make sure your cistern (local water storage) is at least that size. Factor into your plan the costs of building a home in a remote location, including getting materials and construction crews out to your site. You may also want to consider hiring a full-time caretaker to watch your property (especially in remote areas) while you build.

Finding the Right Builder

As with any home building process, finding the right builder is critical to making sure the dream home you envision is the one that gets built. Before you begin construction, talk to several builders in the area and ask to see homes they have built. Be sure to ask for references, and ask lots of questions. An experienced builder will help you choose the right materials, design and construction for your home site. Most builders will ask for an initial deposit up front to begin construction, then additional payments scheduled as specific milestones in the build process are completed and approved.

How Long Will it Take?

The time it takes to build a new home depends on many factors, including the size and complexity of your home, your location, and how busy your builder is with other projects. The best way to be sure is to create a detailed plan and budget, and to try to stick to it. Your builder will need to submit your home plans to local authorities as well as to your HOA (if you are in a planned community) for approval. Once you have permits and approvals, construction may take anywhere from six to eighteen months, depending on your project. If you are not here during part or all of the construction, a good builder will provide plenty of photos and communicate often with you about the process.

How Much Will it Cost?

Again, this depends on your home’s design, location and construction requirements, such as HOA design approvals. A good rule of thumb is to build in 20-25% of your budget for unforeseen expenses, such as that upgraded granite you found that you simply must have!

Time to Get Started!

Building a home in Baja can be a fun, exciting process if you plan properly. Start by working with your local real estate agent to help you find your perfect home site. Find a trusted builder to execute your vision; your agent should be able to recommend at least one. With professional, local knowledge on your side, you will soon be on your way to building your dream home in Baja.

Jim and Rebecca MacDonald are real estate agents with Vista Properties and permanent residents living full time in La Paz, Baja California Sur. They offer a variety of buildable lots and home sites available for sale in communities throughout La Paz and the surrounding areas on their web site at www.vistapropertieslapaz.com.

Developments in La Paz Give Buyers Plenty of Options

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TBC

The Real Estate market in La Paz is running full speed ahead and there are several developments in the area that are offering buyers options in new construction with both homes and condos. Here are seven such developments that are causing a buzz in the area, each at different stages in construction.  VentaMar and Vista Marina Condominiums for example, will be breaking ground in the next few months and are in presales while Salvatierra Condominiums and Torres Cantera Residences are both well into construction and are at the half way mark in sales.

Introducing Ventamar

Ventamar is a world-class resort community of 95 luxurious condominiums and single-family homes designed to co-exist with the natural landscape.  It will no doubt set a new standard for luxury living in the La Ventana/El Sargento area, just a 40-minute drive from La Paz.  The natural green corridor running through the heart of Ventamar will inspire an active lifestyle, creating a visual connection between the striking mountains to the West and Ventamar’s private oceanfront beach club, fitness center and restaurant.

The Ventamar Beach Club will offer Ventamar’s residents incredible amenities, including a large infinity pool, multi-level decks for enjoying the warm Baja sun, lounges, cabanas and private beach access with lounge and umbrella service.

Ventamar is located next to the Hot Springs on unspoiled El Jalito beach, just north of El Sargento in Baja California Sur, Mexico. Construction to begin in September of 2019 with pricing starting at $300,000 US.

 Call 612 688 3026 for more information. www.ventamarbcs.com

Salvatierra Condominiums = Downtown Living

In the heart of downtown La Paz, Salvatierra Condominiums broke ground in early 2018 offering the opportunity to own a brand new one-story jewel in a prime location just steps away from the malecon, offering the life you´ve always wanted.

Salvatierra Condominiums is a four story, 24-unit community which will be part of Salvatierra Residential Living located on the corner of Serdan and Salvatierra. Through its architecture and exquisite design, Salvatierra Condominiums evokes a timeless fascinating nostalgia with contemporary amenities among the contrasts of its textures and vibrant colors. Have your choice of Contemporary Mexican or Hacienda Style Mexican finishes. Covered parking, controlled access with 24/7 security, pool, bbq, and elevator are all included in the project.

Salvatierra Condos, Downtown La Paz

Salvatierra Condominiums will offer the La Paz market quality condominiums, downtown La Paz. One and two bedroom units are still available but there are only 10 units left with a starting price of $199,000 US. Sales are moving swiftly. 

Please call Denise for a tour at your convenience at 612 125 6180 or 333 496 8972. www.amistadrealestates.com

Torres Cantera Residences: Private Community with 24/7 Security

From the developers that brought you Terrazas by Altus, Torres Cantera Condos, Club Cerralvo and Sunset, Torres Cantera Residences are now under construction and Diamante Realtors are very pleased to report that half of the homes have been sold and sales continue to move quickly.

Torres Cantera Residences will be a private community of three to five bedroom homes with controlled access and 24/7 security. You may also have the option to monitor your home from your cell phone, tablet, or computer. So it will be very easy to lock up, head north with no worries of leaving your cherished belongings behind.

Common areas include three swimming pools, professional gym, private cinema, playgrounds, bbq areas and green spaces for the enjoyment of kids. Oceanview rooftop terrazas on all homes.

Torres Cantera Residences is a unique project that has set the standard for luxury community living and amenities.  Residences are starting at just $218,500 US. 

Contact Karem Hadad for a tour at 612 197 2818. www.diamanterealtors.com

Paraiso del Mar Resort

Paraiso del Mar is a one of a kind resort in La Paz.  Unspoiled beaches, world-class golf, beautiful accommodations, and incredible staff make Paraiso del Mar Resort a popular choice among homebuyers looking for their piece of paradise.

Now is a great time to become a new owner at Paraiso del Mar! Not only are there a few resale units available, the developer is starting to pre-sell the new units that are now under construction. There are both condos and casas available and most believe that once new units are completed, the prices will move up significantly. Paraiso del Mar is an incredible community in a beautiful, truly unique setting.

For more information, call 310 341 0358. www.paraisodelmar.com

Vista Marina Condominiums

Presales have begun at Vista Marina Condominiums located in Colina del Sol with beautiful views of the bay of La Paz. Through this new condominium opportunity, Grupo Vista Marina intends to develop a high quality, green project at affordable pricing. Vista Marina Condominiums will have community green areas, a large swimming pool and a roof top terrace will be home to a movie events room and gym, among other amenities. Pre-sale pricing starts at $2,550,000 pesos with 22 units available, including 4 penthouses. Contact Geo Properties at 612 121 1060 for a tour.  www.geoproperties.com.mx

Playas Pacificas

Playas Pacificas is a private residential community overlooking the stunning Pacific coastline. Both beachfront and ocean view lots are available where you can build your dream home just steps from gorgeous, swimmable beaches and waves perfect for surfing and kiteboarding. This eco-friendly community offers homebuyers green construction, solar power options, water service, turnkey home designs or the option to build your own custom home. Phase I includes .5+ acre ocean view lots starting as low as $29,900 US. For more information visit www.bajalifemx.com/playaspacificas

Vista Colinas

Vista Colinas is a private enclave of homes situated in the hills of rapidly growing El Centenario, just minutes from major shopping and downtown La Paz. Designed to blend affordable, retirement style living with modern conveniences, these 2 and 3 bedroom homes feature open floor plans and plenty of outdoor living space, high-end finishes and ocean views overlooking the Bay of La Paz. Reserve your space now in this brand new fenced community with paved entry road, underground utilities, high-speed Internet and more. Pre-sale pricing available now starting at $115,900 US. For more information visit www.bajalifemx.vistacolinas.


First Real Estate Licenses Issued in BCS

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TBC

• The new licensing will guarantee the legality of new investments and will regulate all real estate operations in the state.

The Secretary of Tourism, Economy and Sustainability (SETUES) in Baja California Sur, Luis Humberto Araiza López, granted the first real estate licenses to professional agents and advisors from the municipalities of La Paz, Los Cabos and Loreto last week.

Real estate licenses in BCS are issued by the state government and give agents and brokers the legal ability to represent a home seller or buyer in the process of buying or selling real estate. Real estate agents are now required to be a new law that regulates real estate agents in BCS was approved unanimously in the Commission of Fiscal and Administrative Affairs for the State Congress in 2017.

Araiza Lopez said that the main objective of the law that regulates real estate professionals in the State of Baja California Sur is to regulate real estate activities carried out by professional agents. This guarantees the legal security in real estate transactions of the estate for both parties involved in the transaction, the one entrusted and those who invest in real estate through any legal entity.

The new law is now in effect and therefore, becoming a real estate agent in BCS requires a state license.

Real estate licenses are valid for three years. In order to obtain the license, there are certain requirements that must be meet. Candidates must take courses, be trained by a licensed real estate professional and write a written exam before they can apply for a real estate license.  Real estate advisors may work under the license of the company or real estate professional for whom they work for.

In the past, anyone in Mexico could claim to be a real estate agent. But in a trend towards transparency in Mexico, more and more people now prefer using the services of a registered real estate agent. Already 15 states in the country have a real estate regulatory law in place. Baja California Sur is now the 16th state.

Tony Garcia, President of AMPI La Paz, says the licensing law will make it easier for foreigners buying real estate in BCS to make smart choices. “Firstly, if an individual trying to sell you a piece of land is not licensed, they will not be allowed to sell you that piece of land. Only certified professionals can buy and sell real estate, which will make for less bad experiences and a more formalized process.

“Secondly, properties that are listed for sale must have all documents in order. All documents, including the public deed and the payment of property taxes, will be revised. The real estate industry is one of the most important for the economic development of Baja California Sur, and we need to keep real estate sales moving.  With documents in order, the process will be quicker and sales can close faster.”

John Glaab, CIPS a founding member and director of AMPI Los Cabos commented, “The introduction of the new law and issuing real estate licenses is the most exciting thing I have witnessed during my 25 years in the Mexican real estate industry. Not only will it raise the standards and ethics in our industry, but will increase the confidence of both domestic and foreign investors.

I salute the hard-working team from AMPI and ASPI La Paz along with AMPI Los Cabos and MLS/BCS who worked so vigorously to write the new law.”

54 more real estate licenses in BCS are now in process at SETUES and should be issued in the upcoming weeks.

10 Tips on Moving to Mexico

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By Heather Borquez

You dream of giving up the crowded freeways?  The high prices?  The crazy politics?  The snow, sleet and ice?  The shopping malls? The office?

You want to exchange it all … for beaches, margaritas, mariachi music and lowwwwww prices?  Household or gardening help – no snow, no grass to cut? 

Here are some tips for how to make your dream come true.

1. Come on down!  There is no time better than the present.  Come on down and check it out.  Fly direct to Cabo – (airport is San Jose del Cabo).  Take the shuttle (Eco Baja Shuttle) up to Todos Santos or to La Paz … or just stay in Cabo.  All are great locations. 

Alternatively you could fly into Mexico City on Aeromexico and then connect onto another Aeromexico flight into La Paz. 

An even better alternative, depending on your location, could be to go to San Diego and walk across the Skywalk to Tijuana.  Hope on a domestic flight (Volaris) for about $100.00 and head straight to either Cabo or La Paz.  

Or drive down the Baja peninsula – and stop off at the vineyards of the Valle of Guadalupe, stop and see the whales in San Carlos. A few more miles and you arrive in La Paz.  

Cruise or sail your boat down! So long as you GET HERE!!

2. Make a decision to live here!  I promise you – you won’t regret it.  Just do it.  None of us is getting any younger and prices are only going up.  Come and see the place and make a decision to relocate. More opportunities in life are lost due to fear and indecision than anything else.  Go for it.

3. Find a good realtor to show you around.  No substitute for experience or knowledge.  Find a good realtor who is bilingual and has lots of experience living and working in Baja.  Have them show you around. Find one that offers free, no pressure real estate tours of neighbourhoods in La Paz, Todos Santos and Cabo and free information on the buying process, how it works, the fideicomiso, market prices, how to offer, how to close, how to furnish and how to move into your new home!

4. Explore work or income generating activities while visiting.  Lots of opportunities to work in Mexico without becoming a citizen.  The easiest way is to open a corporation and then work at your own business.  The Baja is booming, there are lots of gaps where services are still required which means business can be done here.  Setting up a Mexican corporation costs about 1,500 – 2,000 USD.  Just remember that any income generated in Mexico (including rental income from renting out your house) is subject to Mexican income tax.  A good accountant will take care of that for you and submit your taxes for you.

5. Decide what kind of health care you want.  There are all kinds of options – from pay as you go (for world class health care at a relatively inexpensive rate) to public health care offered by the state (you need to be a Permanent Resident to access the public health care system), to using American or Canadian health care insurance purchased there or here.  Loads of great hospitals, nurses, pharmacies, clinics can be found here.  We also have great dentists.  In fact, we have a thriving dental tourism industry as many people come to Baja to get their teeth done at much lower prices…

6. Decide if you want to remain a tourist or spend more time here and eventually qualify for public health care, as a permanent resident.  You can buy a property and live in Mexico for 180 days at a time as a tourist.  You must exit the country for a couple of days every 6 months, if you are on a tourist visa.  If you decide you want to stay longer and take advantage of the various benefits of Mexican residency, you can easily apply for and be granted either temporary residency or permanent resident, by first applying at the Mexican consulate near you, in the States or Canada, and then completing the process in Mexico.  Pretty easy – they will ask you to provide you are financially able to take care of yourself in Mexico … a little bureaucratic – but easy enough to do, on your own.

7. Find a property and make it your home!  Your realtor will show you a number of properties and you will be delighted with the choice and prices available.  Properties needing work can be beautifully upgraded, for very low prices.  For those who wish information on the BUYING PROCESS itself, please contact me and I will send you an article on how it all works.  It is quite straightforward and easy. Always use a licensed realtor and a good closing attorney.  Ask your friends for recommendations. 

8. Find someone to manage/rent out/or care for your home while you are away. If this is an investment or a part time vacation property – you will want someone to manage it for you.

9. Figure out what sports, activities you like to do … and start researching groups you can join.  We have all water activities; kite surfing, boating, swimming, sailing and all ground sports as well.  Loads of marathons, cycling races (Tour de France was here last year), Iron man, Pan Am beach volleyball, hikes and camping.  Camping is HUGE in Baja.  Mexican families love to camp on the beach… for free.  During several holiday weekends during the year, you will find the beaches full of campers, usually families … playing guitars into the night, under the stars, and the smell of the mesquite wood on the barbeque.  We have art classes, writers’ workshops, movie night, dance classes, dance clubs, eating, drinking! Loads to do … Just do it.

10. Lastly, start smiling a lot … and learn to say, “Buenos Dias Señorita, Buenos Dias Señor”.  The people of Baja are warm, friendly and funny.  They love visitors and will enjoy being greeted by you every morning as you stroll along the beach or on the waterfront malecon.  Coffee shops open early and the fishermen are up and about, bringing in their catch.  Start your day with a few words in Spanish – and the whole magical world of Mexico will be yours… it is easy.  Come and try!

Heather Borquez is a resident
of La Paz and a relocation specialist/real estate agent with Diamante Realtors.
 She can be contacted by email at
heather@diamanterealtors.com or by telephone at 612 157 1984.





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