– What is the difference between negotiating with an agency that is part of AMPI and one that is not?
. We operate with strict Code of Ethics that govern how we represent our clients and we have mandatory continuing educational requirements that no other association, that we are aware of in Mexico, uses. Our agents are given the tools they need to be at par or better than real estate professionals in the United States or Canada and we are proud of our ability of protecting Buyers and Sellers through their Mexico real estate investment experience.
– The previous questions= comes from people who have asked “What can AMPI do for those members that are giving less than expected service to their clients?”
The great thing about AMPI is that we have an arbitration panel called the Honors and Justice Committee for people to file complaints about AMPI agent issues. This committee is made up of experienced AMPI members that are voted to this position for the respect AMPI peers have for their knowledge, experience, and honesty in business dealings. The Honors and Justice Committee is not a judicial process but an arbitration process. Both parties have to agree to accept to the Honors and Justice Committee’s resolutions before an arbitration can begin. Both parties must present to the committee all documents and evidence in any complaint. This is an excellent way to get a speedy resolution to any misunderstanding and response to an injustice if this is the case.
– Are Pre-Sales secure investments?
Pre-Construction purchasing has its risks and AMPI has set up guidelines for any development to be represented by an AMPI member to minimize those risks. There are at least 24 documents required of a developer in order to make sure that the development is solvent and has everything in place to begin pre-sales. Some of these items are using an escrow company like First American Title or Stewart Title Company to handle funds, Title Insurance on the land to make sure it has no legal obstacles that haven’t been dealt with, Bonds to guarantee deposits are recommended, and or course all permits, corporate bylaws, title, and studies are complete and certified can be just the beginning of our investigations. We do our homework and disclose things that Buyers need to know before making their investment.
-What does a developer or contractor need to know before they start a project?
Anyone who is considering starting a new development should contact an AMPI member before they even start their design process. Developers need to ask the agents what the market is calling for and what market demand is for any particular product so that the developer can make his important decisions early and not find out they made a costly mistake in design. They should also contact us to see what documents will be required so that they can plan and organize from the start. A meeting with an AMPI member can save millions on mistakes and save years on marketing and sales time for a new development.
The world wide economic downturn in the last few years has taken it’s toll on most real estate markets across the globe. Puerto Vallarta is no exception. In 2008 our most popular properties were large 3 bedroom condominiums averaging 3,000 square feet in a price range of about $650,000 USD to $800,000 USD. In 2011 our most popular product has been one bedroom condominiums averaging $150,000 USD to $250,000 USD when in 2008 we couldn’t give one away. People are downsizing their requirements and overhead. They want lees monthly costs and less to maintain. Its a combination of not wanting to invest as much and not having as much to invest. I can see this trend changing in the future but for now pricing has reduced and Buyers are looking for great values. The good news is that 2011 has been better than 2010 and things seem like they are very slowly re-bounding in the bay. Those Baby Boomers are still anxious to enjoy the lower cost of living that Mexico has to offer and the incredible lifestyle we have to offer here in Puerto Vallarta from social life to activities. The other interesting thing to note is that Mexico’s economy is growing and strong. Mexican families are enjoying the benefits of this and are coming more and more into the market.
-What is the forecast for growth in the market in the Puerto Vallarta region?
Long term the outlook is fantastic. This pitstop we’ve taken has given governments time to regroup. Redefining priorities Puerto Vallarta is investing in infrastructure which we have seen over time stabilizes real estate markets and values. The renovation of the beautiful Malecon downtown, the renovation of Highway 200 from downtown to Mismaloya and beyond, the beatification of the Romantic Zone, and other investments like the new Dock in Olas Altas are all signs that Puerto Vallarta sees the demand coming and wants to be ready for it with urban planning and structure. It’s a wonderful time to be living in the bay and enjoying this healthy growth.
Timothy Real Estate Group – An innovative company setting new standards in Real Estate sales and services has the most professional and experienced Realtors in the Puerto Vallarta area who understand the intricacies of Mexican Real Estate ownership, the local market, Puerto Vallarta property codes and regulations and financing. The Timothy Group uses that knowledge to provide a sound analysis on every aspect of property ownership. Timothy Real Estate Group is known for professionalism and experience and they bring this to every transaction they work on for the benefit of Real Estate investors and developers alike. Ask about our Real Estate Listings
by Carl Timothy – email@example.com