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

Puerto Vallarta Real Estate

How to Determine Fair Market 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. If we start out with the objective to have fair market value, where, do we as consumers normally go? There are no websites as in Canada and the USA such as Zillow and Trulia offering a large number of properties for sale as well as average sales prices by areas. 

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Buying or Selling in US vs MXN

New Techniques for Selling Real Estate in Puerto Vallarta

The current combination of health and economic issues has affected all real estate markets. Here, we have the advantage of selling real estate within two currencies. Pricing in US dollars is prevalent only in Mexico when these foreigner buyers are strongly interested in selected locations.  Mexican beach areas have historically attracted not only locals as renters and buyers, but also American and Canadian citizens. When more foreign buyers are in one of these markets, the trend has been to accommodate them by pricing the real estate in their currency.

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Slow and Steady is the Way Forward

Puerto Vallarta Real Estate

We 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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Global Real Estate Changes and

Puerto Vallarta Real Estate Outlook 2020

We are experiencing a change in our lives through-out the globe. Those who have lived through wars or economic upheavals, have been in this situation before. Now we all are dealing with the world condition. For us to survive in the real estate market, we have to endure the current uncertainty and help the recovery.

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