Yucatan Real Estate expert, Mitch Keenan, of the TOPMexicoRealEstate Network, has recently joined several of the Network’s other real estate experts in contributing to a new series of articles featured on the network’s website.  Keenan’s contributions can currently be found in “How to Buy Real Estate in Mexico … Safely!” and in the near future will include “TOP 5 Most Common Mistakes made by Non-Mexicans when buying Property in Mexico” and “What to Watch out for in a Promissory Contract.”

While Keenan’s focus in geographical terms is Yucatan Real Estate, especially Merida, Yucatan and nearby areas, his advice for real estate buyers is indispensable for property purchases anywhere in Mexico.  In the article “How to Buy Real Estate in Mexico … Safely!” Keenan summarizes the ideas of the other panel members when he points out that if a buyer does not choose qualified people to carry out their transactions, they are exposing themselves to many risks in a business culture very different from what they are used to.

“The largest risk,” says Keenan, “is to NOT use reputable professionals.”

Keenan also contributed some valuable tips on how a buyer can make sure they are dealing with a true professional, the agent being the most important.  His advice is as follows:

- ask for LOTS of references

- check the references

- find out how many years they have been in the business

- talk to community members – What kind of reputation does he have in the community

- check for certificates from Mexico, as well as licenses from the U.S., Canada, Europe or Mexico

- ask if the agent has taken classes and kept up with the field – check certificates

- find an agent that you feel comfortable with – avoid a situation where you do not feel comfortable

Other professionals important to making a transaction go smoothly who Keenan mentions are the Notary Public, the Title Company and the Bank.  Keenan explains that certain property types – undeveloped land or beachfront in an undeveloped area – present higher risks to the buyer than others. Using a reliable title company will help a buyer avoid these risks.  The bank can also play a part to help the buyer in this area.

“When a fideicomiso is issued by the bank to hold title,” explains Keenan, “it does provide another layer of protection to the buyer.”

In Keenan’s advice, the highlighted issue is choosing experienced, reliable professionals, especially the agent or broker.  A reliable agent will help give the buyer the information needed to choose the other professionals correctly as well.  The article includes further discussion and details from other panel members.

This article, along with 2 others which focus on key advice for non-Mexican buyers of Mexico real estate have been given special attention through a flip page on TOPMexicoRealEstate.com’s main page, linking to each article to ensure that new buyers are made aware of these issues.  In the near future further articles with input from Keenan and others will appear in this section.

TOPMexicoRealEstate NETWORK; Mexico’s Leading Network of Specialists for Finding and Purchasing Mexican Properties Safely

The attractiveness of Cancun Real Estate and tourism have recently prompted the airport’s operator, ASUR, to open a second runway, considerably expanding the airports capacity.  As a part of this move, there are plans to convert the airport into an international hub for flights not only arriving from North America, but for travelers connecting to Central and South American and Caribbean destinations.  While this in turn will mean that real estate owners in Cancun will have even more, cheaper options for visiting back home, it will also mean new growth and opportunities in the market.

For anyone considering buying real estate in another country, being able to visit back home easily is always an important consideration, and Cancun Real Estate can boast to offer the most in this aspect.  The Cancun International Airport  currently offers very regular flights to most major North American cities, in the U.S. and Canada, not to mention many other destinations throughout the world.    Traveling to Toronto, for example, is only a short 4 and half hour flight, and many American cities are even closer.  This second runway will increase this already excellent level of convenience.

Cancun International Airport celebrated the grand opening of the runway on October 20.  The airport is now is unique in Mexico because of the fact that the runways run parallel and can be operated simultaneously, increasing capacity considerably.  The project also included a new control tower, 96 meters tall, making it one of the 20 highest in the world.  The project’s total investment was about 80 million dollars.

This infrastructure improvement has allowed Cancun to set its eyes on converting itself into an international hub, centralizing traffic between the United States, Latin America, South America and the other parts of the world.  As mentioned above, this status for Cancun would offer more flights, and probably better prices for Cancun Real Estate owners to visit back home, not to mention many other destinations.

The expansion of this airport are also an indicator of the ongoing investment in infrastructure improvement supported by the various levels of government.  As a key tourist and real estate destination, not only in North America, but on a world-wide level, Cancun has earned a strong reputation of offering a solid base for government, corporate and individual investment.

At the grand opening of the new runway, Mexico’s President, Felipe Calderon, mentioned that as a hub Cancun would not only grow even more as a tourist center, but also as an international business and real estate center.  Such a move would help put Mexico at the forefront of business in the globalizing market.  As a center for international business, Cancun Real Estate would consequently take on new growth, new opportunities, and perhaps become a more competitive market.

As new growth and opportunities become available, it is necessary for buyers to be sure that they are getting the right information for their investments, and that they are making safe purchases.  Cindy Ader, Cancun Real Estate expert in the TOPMexicoRealEstate Network, offers years of experience in the Cancun market, and specializes in providing accurate information and guiding non-Mexican buyers in making safe purchases and finding the best opportunities available.

With the announcement that the American economy grew in the 3^rd quarter of 2009, probably marking the end of the global recession in the U.S., American buyers may want to consider the many advantages of buying Playa del Carmen Real Estate.  Despite the economic upturn in the U.S., Playa del Carmen Real Estate is still for sale at excellent price reductions.  The economic recovery in the U.S. is expected to be slow, with improvement coming little by little; although this gives the impression of “lots of time,” it may be better to start looking now, before the price reductions also begin to disappear.

At the end of the last week of October, the official announcement came from the Commerce Department that the U.S. economy had grown 3.5% during the last quarter of 2009.  This compares to the contraction of 0.7% during the second quarter and the contraction of 6.4% during the first.  This is best performance the economy has seen in 2 years.  It also marks the end of 4 consecutive quarters of contraction, which is the worst performance the U.S. economy has had in 70 years.  In all likelihood, this means that the recession is over in the U.S.

As the effects of the economic turn around are felt by more Americans, more Americans will again have the economic means and confidence to begin looking for good investments, a second home or an ideal place to spend their retirement.  Playa del Carmen Real Estate offers excellent options for all three of these, especially in the current market situation, which includes numerous, substantial price reductions on excellent properties.  In terms of investment, Playa del Carmen showed very favorable and constant returns on properties, usually between 15 and 20% before the recession.  The area, with its very well developed infrastructure, which has continued to receive large investment from the Mexican government during the recession, and its strong and resilient tourist economy shows a much better likelihood than most real estate destinations to continue on this upward trend with the end of the recession.  In terms of a second home or retirement living, Playa del Carmen offers very high quality properties, and all the conveniences necessary for a comfortable lifestyle, at a considerably lower cost than comparable options back home, not to mention the world-famous beaches, and the year round warm climate.  Again, all of this is currently available with substantial price reductions.

As for the end of the recession, the recovery is expected to be slow.  Some buyers may feel that this gives them plenty of time.  In one sense this is true, but this time should be spent searching, planning and preparing a real estate purchase. While price reductions are still available now, as the economy recovers, albeit slowly, these price reductions will begin to disappear little by little, and real estate prices will be on their way back up.  It is never a good idea to rush a property purchase, and starting the property search when the last deals are disappearing may put make a buyer the unnecessary and unhealthy need to jump into a decision.  For this reason, now, as signs of recovery are starting clearly showing, it is the best time to begin a property search, giving the buyer enough time to search carefully and investigate all options, and still enough time to choose from great price reductions.

A final point to consider for buyers is that the need for accurate information and clear advice in the buying process.  The most important part of having the right amount of time for the search and buying process is finding a knowledgeable and reliable real estate professional to guide a buyer through the process.  This professional will ensure that procedures are carried out correctly, such as the agents in the TOPMexicoRealEstate NETWORK, “Your Expert Property-Finders.“  For American buyers, who are ready to move on their new economic confidence, now is the time to contact a Playa del Carmen real estate agent and begin their search for the perfect investment or second home.

TOPMexicoRealEstate NETWORK; Mexico’s Leading Network of Specialists for Finding and Purchasing Mexican Properties Safely