Our market is not volatile as some people would expect. We are more in ¨pause¨ while everyone is watching for who the buyers and sellers will be 2020 and 2021. The majority of our 2,022 active listings are not subject to mortgages. This is key to understanding that our typical seller is not highly leveraged and has paid cash for his property. Carrying costs then are very low compared to the US or Canada where mortgages can be 90% of the value of the property.
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Planes, Projects and Property
Positives for the Puerto Vallarta Real Estate MarketFirst: 17 New Mexico City Real Estate Projects Approved – The Mexico City government has authorized the construction of 17 real estate projects in the capital as part of a plan to combat the economic impact of the coronavirus pandemic. The government has announced 14 projects on Paseo de la Reforma in the central borough of Cuauhtémoc, and three others along the avenue’s extension in the boroughs of Álvaro Obregón and Cuajimalpa.
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Dealing with Culture Shock
Living in Puerto Vallarta, MexicoIf you are living here in Mexico for several months or longer, you will most likely experience at some point a degree of culture shock. Many times, a very simple experience or interchange with a national, can throw you into alienation, confusion, or surprise from encountering unfamiliar surroundings. This is a normal reaction. You can overcome the feeling by practicing patience and keeping a sense of humor. You will find that getting enough rest and physically adjusting to the climate goes a long way in your mental attitude in adapting to a different culture and your ability to cope.
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Slow and Steady is the Way Forward
Puerto Vallarta Real EstateWe are in a stand-still now, waiting to end the lock-down until the virus health issues are resolved or stabilized. The Mexican federal and state governments are enforcing certain restrictions, such as staying at home for all who do not have critical businesses. Mexico is not the only country with the problem, so this is very different from how our market in Mexico was affected during the US Housing crisis of 2008. We had little demand for 5 years, and began to recover when new product was built, which attracted a different demographic from our prior client base.
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Contact us today to get started
Harriet Murray
Owner / Agent
Email: harriet@casasandvillas.com
USA/Canada: +1 (504) 298-6730
Puerto Vallarta: +52 (322) 223-4027
Puerto Vallarta Cel: +52 (322) 205-7550
