Everything you need to know about buying and selling real estate in Mexico, Puerto Vallarta, and the Banderas Bay region

2020 Real Estate Sales

Bay of Banderas Market Report 2020

We had an incredible 2020 compared to many markets in the world. We know all of North American real estate has been active: buying and selling with, for the moment, healthy demand and supply. We still do not know what the underlying world-wide economics are suffering as a result of lockdown from the coronavirus.

We will begin to see more clearly in 2021 how much damage and how much positive economic or lifestyle changes are the current ¨norm¨.

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Mexican Real Estate

4 Priorities for Property Buyers

Insist on a comparative market analysis of the” solds” and a list of the competition on the market for any villa or condo you are considering buying. Don’t take no for an answer. Although it is true that historically there has been a history of not recording true sales prices in the Mexican public registry, this doesn’t have to continue, and it is illegal. You, as a buyer have the right to information before you spend your money.

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Delays and Procedures in Real Estate Transactions

The September 11 attacks in 2001, which led to the Patriot Act in the US and similar legislation worldwide, led to a new emphasis on money laundering laws to combat terrorism financing.[8] The Group of Seven (G7) nations used the Financial Action Task Force on Money Laundering to put pressure on governments around the world to increase surveillance and monitoring of financial transactions and share this information between countries. Starting in 2002, governments around the world upgraded money laundering laws and surveillance and monitoring systems of financial transactions.

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Real Estate Pricing and Value

Those of us living in Mexico who are from other parts of North America probably take the concept of fair market value for granted. We assume that this measure of value is used in other markets and other countries. Actually, it is not common outside of the USA or Canada to have sold market data. In order to have information about sales prices and to adjust for differences in properties; data needs to be available.

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