Title Insurance in Mexico

Although title insurance is not required in order to purchase property in Mexico, it is highly recommended. Many people are under the impression that a fideicomiso (bank trust) will protect their title. This is not true. The fideicomiso acts as a fiduciary, but it does not protect the title. The piece of mind that you will get by knowing that you own your property has a clear title is well worth the price. Even if you do not purchase title insurance when you first purchase your property, you can still purchase a title insurance policy at any time. Title insurance companies may be able to find descrepancies or other issues that your notary or lawyer may not be able to find. If you are going to finance your property in Mexico, a title insurance policy is required by most lenders.

Stewart Title and First American Title both have a strong presence in Mexico and their experts can help you with your title insurance policy. As foreign investment in Mexican real estate becomes more and more common, we can expect to see the entry of other title companies into the Mexican market.

Great things about living in Los Cabos

Many people ask me why I love living in Mexico. Where do I even begin? Is it the hospitality of the Mexican people or the beautiful beaches or the icy cold Coca-Cola in a glass bottle? Is it the low cost of living or the excellent food? It is all of these things and more that I love living in Mexico.

AMPI Los Cabos (the Mexican Association of Realtors) has compiled a list of the Top 10 reasons for buying real estate in Los Cabos, and I have to say, I agree with all 10!

Check it out:
10 Reasons to Buy Real Estate in Los Cabos

Loan Calculator tool for loans in Mexico

There are a number of factors that will determine which interest rate you will pay when you obtain financing for a home in the US or Mexico. Sometimes you just want to get a ballpark figure of how much your monthly payments will be. The MexQuest Mortgage Calculator is a great tool for those who want to see more or less what their mortgage payments will be.

The calculator, located on the right hand column of this blog as well as on www.mexquestmortgage.com, allows users to enter the purchase price of their home or condo in Mexico and calculate monthly payments on a home loan.

NOTE: The interest rate used in the calculator is the average daily rate. Your rate could be lower or higher depending on the loan program, your credit score, and the terms of the loan. Contact me for more information and to see which loan program is best for you.

Looking for the next big thing in Mexico

A lot of people want to know what the next big investment hotspot in Mexico is going to be. Unfortunately, there is no simple answer. There are so many wonderful places in Mexico, that it is hard to pick just one. Baja California has been a longtime favorite, with cities like Los Cabos and Rosarito attracting scores of Americans and Canadians looking for a more peaceful life. In the past few years, Sonora, home to Rocky Point (Puerto Penasco) and San Carlos has been booming with developing. Puerto Vallarta still remains high on the list for those looking for a vacation home or primary residence in Mexico, but most of the new development is taking place in Nuevo Vallarta and the Punta Mita area.

Mexico's east coast is famous for the Riviera Maya, which is a peninsula that is comprised of Cancun, Playa del Carmen, Tulum, and other smaller towns. This whole area has seen an influx of new hotels and residential projects.

My suggestion is that you visit the location before you buy. If possible, rent a house or a condo and spend a few weeks there so you can really get to know the town. Also, read all you can before you buy. Did you know that Rocky Point is getting a new airport and a new superhighway? Did you know that Ensenada will be home to the largest marina on the west coast? Ask local realtors about future improvements to the city, as they may have inside knowledge that you couldn't find elsewhere.

SPOTLIGHT: Ensenada

Ensenada, home to one of the largest ports on the Pacific West coast, is located 80 miles south of San Diego. Its location makes it the perfect weekend getaway for visitors from Southern California. Ensenada is probably best known for its fishing, but it has quickly established itself as an up and coming cultural center.




Some of the best wines in Mexico come from Ensenada and the Guadalupe Valley. Its temperate climate is very conducive to producing wine. What goes better with a great glass of wine than a great meal? The innovative chefs in the region have put Ensenada on the map, making it one of the finest culinary centers of Mexico.


Another popular attraction in Ensenada is whale watching. Every year, from late December through March, visitors can witness the California Gray whales off of the coast. The whales migrate south to the warmer waters of the lagoons of Baja. Many companies offer whale watching day trips that leave around 11am and return at 3pm.





If you are looking for nightlife, Ensenada has it. Hussong's Cantina, Baja's oldest bar and home of the Margarita, is a great place to eat, drink, and be merry. If you are looking for something a little more wild, try Papas N Beer. This establishment has been a favorite of spring breakers and cruise ship passengers for years.





Ensenada offers something for everyone. Whether you are looking to party or just sit back and enjoy the scenery, you will not be disappointed.

Moving to Mexico? A few resources to get you started

Moving is a stressful experience, whether it is down the street, to a different state, or halfway around the world. Most of the stress that we bring upon ourselves is caused by fear of the unknown. What neighborhood should I live in? Do they have good schools? Who will I get to move my furniture? What are the people like?

A great way to calm your fears is to do RESEARCH. Yes, RESEARCH! Reading up on your new hometown in Mexico will give you an insight as to what it will be like when you get there. There is no substitute for experiencing it first hand, but it can definitely help answer some of your questions.

Here are a number of great resources to check out before making your big move to Mexico:

Solutions Abroad

MexOnline

MexConnect

Escape Artist

Some of these sites have forums where you can ask questions about anything from finding a good mechanic to where to pay your property tax bill.

Best of luck on your move!

If you have any questions, feel free to ask me : elizabeth@mexquestmortgage.com

Construction Completed on Las Ventanas Project in Puerto Nuevo

Las Ventanas is an exclusive community of 38 homes in Puerto Nuevo, Baja California built by Irvine, California developer Waterfront Development Company. This project's completion represents a development milestone in Northern Baja as it is the first major project completed by a U.S.-based developer.

Irvine, CA (PRWEB) September 22, 2007 -- Irvine developer Waterfront Development Company announced the completion of construction at Las Ventanas in Puerto Nuevo, Baja California. "As the first U.S. developer to complete a project in northern Baja, we are proud of the quality of construction and attention to detail that we were able to bring to the project in concert with our Mexican construction partners," said Stephan Erkelens, managing partner of Waterfront Development Company.

Las Ventanas is an exclusive gate guarded enclave of 38 single family homes located 30 minutes south of the U.S. border and represents the high point of quality and livability in the area. With prices that are a mere fraction of those found north of the border, buyers have been attracted to the project in gratifying numbers. "Sales in the past six months have averaged a million dollars a month and we have just four units left to sell," said Robert Donnell of Beachfront Baja, the San Diego-based marketing firm selling Las Ventanas. "With prices in the area rising based on demand and the cost of construction, these remaining homes are being sold for less than their replacement value and represent a genuine buying opportunity for those looking for a beachfront house in Baja, that is ready to move into, now -- for less than the price of a condo," said Donnell.
More information is available on their website. http://www.las-ventanas.com/