Luxury Real Estate

By: Paula Berthelot of Prudential Santa Fe Real Estate

This estate in the luxury community of Las Campanas, Santa Fe, New Mexico is being offered for sale at $8,200,000. Please view the property on LuxuryRealEstate.com #1003013. Perhaps you might have a client for this magnificent home belonging to a member of the DeDomenico family, previous owners of the Golden Grain Co. that conceived the idea and recipes for Rice A Roni and introduced it to the world. The family were also previous owners of Ghiraldelli Chocolate. Anita DeDomenico has been a designer for many world-renowned figures. Her incredible talent is reflected throughout this very artful home.

By Jim Walberg of Caribbean Islands Realty

So how does a surfer kid from Southern California end up falling in love with the Caribbean? Have you ever seen the surfing opportunities in Barbados and Tortola? If your answer is YES, then you know the other answer, too.

I arrived in Redondo Beach in 1948, and lived on the beach for the first 21 years of my life. I thought it was normal to live a block from the pier and enjoy all the Pacific Ocean offered - everyday! I thought all things connected to the Pacific Ocean were normal - sailing, surfing, diving, beach volleyball, pier fishing, boat deliveries to Mexico, and a hundred more activities. In hindsight I was one the luckiest kids I know because of growing up with amazing experiences connected to the Pacific Ocean - every day. I had no idea that my love for the ocean would lead me to the Caribbean Islands and then create an international real estate company.

A life changing discovery happened for me in the mid-1970s while on my first sailing adventure in the Caribbean. Up to that point I had only sailed in the Pacific and Mexico. My Caribbean sailing trips began in the BVI, and then broaden out over the years to sailing the entire chain of the Caribbean Islands.

I had no idea that the Caribbean had any surfing opportunities. So, during my Caribbean sailing adventures I discovered the “Soup Bowl” in Barbados, and Lambert Bay in the BVI. Not only are there some GREAT surf spots in the Caribbean, the beaches are breathtaking while you are sitting watching the left and right breaks. Did you know there is a surf shop, Totem, on St. Barts? St. Barts is my favorite jewel of the Caribbean for pure decadence. And, I could not believe there was a surf shop on the island. I still have a Totem decal on the back window of my Lexus SUV. The staff at Totem opened up a whole new world to explore - Caribbean surfing.

The best surfing in the Caribbean is in Barbados. Melanie Pitcher runs one of the best surfing schools in the Caribbean - Surf Barbados. And, boy can she surf. There is even a surf camp in the BVI on Tortola. I just discovered that one last year! So, you are probably thinking that I have the Caribbean scene wired after all of my discoveries the past 35 years of diligent detective work. You are mistaken. There is a life time of discoveries in this magical part of the world. That is why I keep coming back, and the reason why we are having so much fun serving our international real estate customer’s appetite for owning their piece of Paradise.

So, contact me about some of your favorite surf spots in the world, or for even information about your next home purchase in Paradise. Your Caribbean Islands lifestyle detective remains on duty!

From The National Trust for Historic Preservation

Courtesy of Paula Berthelot of Prudential Santa Fe Real Estate

Perched high in the foothills of the southern Rocky Mountains, Santa Fe, New Mexico is unparalleled in its richness of history, arts and culture. Signature adobe architecture and old world charm combine with culinary sophistication and a creative flair to make the city one of the country's most fascinating destinations.

History & Activities

One of the best-preserved cities in the United States, Santa Fe is an ancient city with a distinctive architecture borne out of its remote location and use of local materials. Dozens of historic sites transport visitors back in time, from ancient Native American ruins and Spanish Colonial churches to mining towns and remnants of the nation's Wild West frontier days. Historic walking tours showcase the spirit of Santa Fe, both old and new, most notably the Palace of the Governors, the oldest public building in the country. The revitalized Santa Fe Railyard now serves as a lively downtown commercial and residential hub, containing shops, galleries, restaurants, farmer's market as well as an outdoor park and performance space.

Art & Culture

Santa Fe has long been a center for arts and culture. It now ranks as the country's third largest art market with over 250 galleries and dealers. Perhaps most famous as the home of artist Georgia O'Keefe, Santa Fe boasts more than a dozen major museums showcasing an array of art, culture, history and traditions. Art galleries and boutiques line Canyon Road while Native American vendors representing 19 Pueblos and three tribes can be found everyday under the portal at the Palace of Governors, selling jewelry and handmade goods. The annual Indian, Spanish and Folk Art markets provide opportunities not found anywhere else in the county.

Outdoor Adventures

Surrounded by more than 1.5 million acres of national forest and the 12,500-foot Sangre de Cristo Mountains, Santa Fe offers year-round outdoor adventure. The breathtaking scenery is an ideal backdrop for hiking, biking, skiing or rafting. With an average of 300 days of sunshine and blue sky, the time is always right to stroll through lush landscapes, explore nature trails at the National Audubon Society center or attend a wine festival in the country’s earliest wine-producing region.

Submitted by Paula in Santa Fe at: March 12, 2009 I moved to Santa Fe about 11 years ago after many visits. Although I will always be a Texan in my heart, I have adopted this wonderful place and have enjoyed every moment I have lived here. If you plan to visit anytime in the near future, you can contact me at Prudential Santa Fe Real Estate, 505/988-3700, and I will give you the latest and greatest restaurants etc,

By Jim Walberg of Caribbean Islands Realty

The Adventuras Club is a new luxury condominium resort built at the private seaside resort community of Puerto Adventuras in the Riviera Maya of Mexico!

Yes, the Caribbean real estate community includes the Riviera Maya on the cost of Mexico from Cancun to Belize. I first discovered this part of the Caribbean in 1995 and even had the opportunity to purchase an acre beach front lot with a new Spanish style home for $120,000. There was no financing available at that time I didn’t have the cash. I missed one of the best real estate opportunities in purchasing that Caribbean home.

Fast forward to 2009. The Mayan Riviera has exploded in value, population, and as a world class tourist destination. This region has over a 100 miles of mash potato coral sand, palm trees, turquoise blue water, and the typical 85+ degree weather. Plus, you have the cultural experience of Mayan culture and the amazing international treasures - the many Mayan ruins in this region with Tulum right on the coast.

The three main regions of the Mayan Riviera as Cancun, Playa del Carmen, and Puerto Adventuras - which is right in the middle of the region. The Aventuras Club is a new fractional interest condominium resort built within Puerto Aventuras. The Private Residence Club offers three distinctly different locations with luxurious vacation home villas situated on the Marina, the Lagoon and the Beach. The resort offers elegantly appointed one, two and three bedroom villas that are lavishly furnished, decorated and supplied with all you need. The beautiful resort community offers diving, snorkeling, deep sea fishing, biking, golf, swimming with the dolphins, shopping, fine dining and much more.

And, it is a very short drive to my favorite street in the Mayan Riviera - La Quinta Avenida or the famous 5th Avenue in Playa Del Carmen. This charming cobblestone pedestrian passage offer Mexican Art, crafts, jewelry, high end shops, designer boutiques, restaurants and night life and only a block from the beach that would remind you of the south of France. In fact, I generally find more Italian, French, German, and visitors from other countries than the locals in this region. Playa del Carmen is the location of the ferry to the island of Cozumel.

The Adventuras Club has two and three bedroom condos starting at $105,000 to $128,500 for 1,500 square feet to 2,500 square feet at the Marina, Lagoon, or the Beach. This allows you a 1/8 ownership of the condo and a minimum of six weeks a year at your Caribbean resort community. I have enjoyed many of the restaurants and shopping in this region, so contact me if you want more information about the opportunities awaiting you. Until next time…your Caribbean real estate and lifestyle detective is on duty.

By Marc Sinanian of La Punta Realty

You need your own team when buying Real Estate in Mexico.

If you are a foreigner buying in another country, how are you going to know what questions to ask if you don’t have any knowledge of foreign laws which govern your purchase?

There are no federal agencies which oversee real estate or the agents who sell within Mexico. Where would you begin your search to look for a reputable attorney and real estate agent to become members of your team?

The national association of AMPI in Mexico has an agreement with NAR in the US for education and membership status. AMPI agents are be a good choice to look for in the area where you want to investigate real estate. You then want to interview the agent or agency and many people start this process over the internet. You can obtain the resume of the agent and his company, and view their websites. You can talk to them in person on the phone, and continue a correspondence by email.

Anyone can set up a real estate company in Mexico, even a foreigner. There are no special requirements or brokerage licenses to obtain. We can’t have escrow accounts as real estate agents, whether we are foreigner or nationals. Do not let us hold your money.

A foreigner can set up a real estate business if he gets a permit from Immigration that he can work in a specific type of business. All real estate agencies should also be able to show their current business license. A foreigner acting as an agent should show you his permit to work in a foreign country in the field of real estate. A visa with permission to work in timeshare sales or promotion is not sufficient to practice real estate. The foreigner should have a FM2 or 3. If they are now a Mexican citizen, they should show you’re their registration card.

How do you find an attorney to represent you? Why do you need one? You need one because you need your own advocate. The notary, also an attorney, is appointed to transfer the title. He has a different role to assist you. The notary attorney’s job is to be neutral and not an advocate negotiating for either party when he is acting as the notary. Neither do you want to use the attorney who represents the seller.

You will want to work out a fee structure to pay your attorney to only represent you in the transaction and not anyone else. If you are not paying for your own advocate, and he is offered to you with no fee, you are probably paying in some other way and there can be a conflict in interest-against your interests.

Please do not make the mistake of hiring a US attorney not licensed to practice in Mexico. Your US attorney can give you a recommendation of a licensed Mexican counterpart. In fact, the best choice for you is a firm who is bilingual and bicultural. You want to be sure that you determine the attorney you are interviewing has a professional cedula, or license before you pay him a retainer.

I have seen some foreigners return to their homes elsewhere, and then become very confused about advice from an attorney unqualified to speak to Mexican law. An attorney in another country may have no good reason to talk you out of a foreign purchase. There may be a hidden agenda to protect his interests. If the first thing out his mouth, is “Why would you want to do this?” instead of “Let me find you a good attorney”, you may want reconsider his advice on any subject.

Another way to find an attorney is to search for Mexican firms who have good websites describing their credentials. In addition to lawyers in Mexico, a firm may be in a state of the US or Canada, and have a division for Mexican law expertise. You will probably find attorneys in areas where a lot of foreigners buy or in states bordering Mexico. There will be other methods to find one, but these are suggestions or where to start. If you start with a good professional real estate agent, they should be able to recommend some attorneys for you to check out. If they say you don’t need one, pass and find another agent.

You can make the wrong assumption about your understanding of the complexity of the transaction if you think real estate is done the same way, even though some of the terms sound similar. Some aspects are the same: there is the buyer and the seller and the real estate to transfer. There is a contract of sorts, a deed with stipulations in it, an exchange of funds. There are; however, many aspects that are completely different. My advice is not to assume.

Because real estate transactions in Mexico are not carried out in the same manner as they are in the US or Canada, you need a professional real estate agent and attorney to assist you. You can not depend on the same infrastructure and safe guards in which you depend in your home country.

If you are buying within the interior of Mexico, you don’t need to establish a bank trust, but you will receive a deed or escritura. All of the above still applies, be careful and get your own team.

The Mexican Constitution prohibits direct ownership of real estate by foreigners in what has come to be known as the “restricted zone.” The restricted zone includes all land located within 100 kilometers of any Mexican border, and within 50 kilometers of any Mexican coastline.

The Mexican government created the fideicomiso, which is a type of real estate trust. A Mexican bank must be designated as the trustee and it has title to the property (you are the beneficiary of the trust), and is the owner of record. The government created the fideicomiso to give Mexico a way to attract foreign capital to develop the restricted zone, which is very desirable and valuable. This trust vehicle does not conflict with the Mexican Constitution limitation that foreigners may not own outright within the restricted zone. With the trust, foreigners, as beneficiaries may enjoy unrestricted use of the land in the restricted zone without violating the law.

The bank, is the trustee of the property for the foreigner, and has a fiduciary obligation to follow instructions given to them by the trust beneficiary. The trust beneficiary (you) retains and enjoys all the rights of ownership while the bank holds title to the property. The foreigner is entitled to use, enjoy, remodel, sell, or bequeath the property that is held in trust.

Mexico requires all foreigners to apply for and obtain a permit from the Foreign Relations Secretariat (SRE) prior to contracting to acquire real estate in Mexico.

*The Calvo Clause says the jurisdiction of the property is where it is located. In Mexico, a foreigner cannot use another legal jurisdiction except Mexico.

Beneficiaries of the trust (fideicomisarios) may be either Mexican corporations with foreign investment, foreign individuals or legal entities.

The SRE must grant any petition for a trust permit that complies with the necessary requirements within five working days following the date of its being presented to its central office in Mexico City. The trust must be granted in 30 days if the application is submitted to one of the SRE’s state offices.

The SRE must confirm the registration of any property acquired by foreign-owned Mexican corporations within 15 days following the filing of the petition.

If the maximum period passes for either the petition or the registration, with no action, the trust permit or registration is considered authorized.

There are safeguards in case the trust expires. The beneficiary of the trust does no lose all his rights and benefits of the property. The beneficiary has a contractual right under the trust agreement with the Mexican bank to all benefits that may result from the use or sale of that property, even though he does not hold title to the property. Currently, fideicomiso trusts are for 50 years, with a renewal for an additional 50 years.

By Sherri Narro of Sherri Narro & Associates

As you enter the long driveway you get a sense of the unattainable, a special connection to the essence of life—over an acre and a half of beachfront property in a tropical jungle paradise so close to town, yet miles away. The jungle juts into the white sand beach to lend its serene lushness to a huge rock formation.

High stone walls intertwine amongst hundreds of trees. It’s impossible to separate the house from the surrounding beauty of nature. Unusually large boulders make a spiritual connection to Los Arcos (a natural refuge). The city lights at night, the openness to the sea, the clear blue water and the constant stream of boats and yachts make this refuge a very special place – very private, but not hidden.

The concept was minimal, magical, serene, with modern proportional planning—an enlightenment retreat. A place to go to recharge or escape the busy world -- to soak in the deep meditative tub or in the purest blue of the ocean’s warm waters.

The house idea began with the roof. The roof inspired by Japanese Architect Toshiko Mori was shaped like a graphic butterfly, therefore, producing great natural waterfalls during the rainy seasons (another element).

The house has different volumes – different heights.

Spaces are discovered indirectly, without all being exposed at the same time. Tropical settings demand the integration of inside/outside space. In designing this modern house, we wanted to make a visual impact by adding “3 skins”. During the day, the house is completely open and the space becomes one with nature.

At dusk, the sheer window treatments are pulled to reflect the transparency and reflection of lit candles and the bellowing of soft breezes.

At night, the celosias are exposed creating a floating Japanese lantern feeling or completely closed with huge sliding glass panels. All 3 skins are completely hidden during the day.

The concept also demanded spaces for real living, for people engaging in stimulating conversation – every detail has a reason for being.

As you enter the gathering space, you discover the simplicity of the space. Rock garden on one side – a floating Zen garden with a life size Buddha with a dripping Andy Goldsworthy-inspired wall. The indoor/outdoor feeling is complete as you see two fireplaces reflecting in the garden’s water creating a very surreal feeling.

Since the house was designed to be all glass, light and form become the key elements – light enlivens spaces – brightens the passage ways and is the connection between the Zen area, the rock garden, pool, pizza pavilion, grassy area, waterfall, white beach and ends by the towering cliff the natives call El Paredon.

All areas interact with each other, whether it’s the major open space for conversation, entertaining or simply to enjoy spectacular views.

Sound also played a part in design, whether it’s the sound of the water trickling from the waterfall in the Zen garden, the rushing water of the major waterfall or the smaller water features. Water sounds that soothes and relaxes. Entering becomes ceremonial – a long forced perspective to a massive Balinese hardwood door (by Jerome Abel Seguin) and huge Balinese vessels each carved by (Jerome) from one tree. The door opens to reveal a very large area with impeccable sensual graphic design and the seduction of nature all in one.

You see a magnificently massive Higuera tree in front of you – a floating garden to the left – a wenge Barragan stairway and very minimal modern furniture. The horizontal floating mirrors become the portals to the nature that reflect inside them. Nature now becomes the painting.

The kitchen can open to a huge space or close to a private dining space – all with the use of the celosias to control the space. The kitchen is imported from Italy and completely designed by Poliform Milano. The floating inside/outside cement table suspended with glass was inspired by John Pawson (England’s most minimalist architect). It has been creatively designed so that the working/dining space can interact or separate. Views of Los Arcos greet the guests for breakfast. Dining becomes very special under the stars with a spectacular view of the city lights and the almost nightly fireworks. The 10 ft. table was created by Jerome Abel Seguin (see his work at Pucci – New York). Lights by Tom Dixon.

The stairway (Barragan) or elevator, if you prefer, leads us to the upstairs area. The master suite is a spectacularly large (New York loft-like) space with a contemplation space, very Zen, floating bed by Fabian Baron. The floor is a combination of caesar stone and wenge chocolate brown wood surrounded by glass shower, glass walls, glass water rooms and a hand made Japanese paper brown rug designed to graphically divide the space. Buddha, candles and a lounging couch surround a gorgeous white caesar stone bathing area. A 25 candle candelabra reflects off of a portal and suddenly 50 floating candles become the headboard for your bed. Flat screen TV cleverly hidden inside the celosia and as you pass a

meditative altar table you can’t help but notice the James Turrell “slices” of light – at night the view is stunning.

Down the hallway – enter through the Soji doors to the “Japanese bedroom”. Again, a floating modern Italian bed, double carved sinks with large screens that reveal or hide the sinks (your choice). Terrazzo floors leads to a great balcony that completely surrounds the house (all of the bedding are from Takashimaya – New York), orange chair and ottoman from Italy (Modern Living – Los Angeles).

Service quarters with separate entrance fully furnished from Jasper Conrad – New York, comprised of 2 bedrooms, bath, kitchen and living area.

The media room – is on the main floor next to the gathering space – a very comfortable space with modern furniture from Italy (Diva – Los Angeles).

To the guest quarters by crossing a teak bridge over a creek which is active in summer, but dry in high season. The main floor is both primitive and modern white pebble stone floors, which continue outside to the large terraces. The glass doors slide behind a wall to create an indoor/outdoor space for relaxing. Big oversized white “ghost” chairs and teak couch offer a relaxing setting along with the sounds of the indoor/outdoor water feature.

A large wood chocolate door slides open to reveal the primitive modern bed space. An extra large mirrored wall reflects the grassy area, the dark wood Bali bed and all of its colorful surrounding. This area has indoor and outdoor showers with large floating sinks.

Upstairs is the modern all white bedroom with white on white, Terrazzo floors, white silstone carved double sinks, glass shower and water room. The white bed floats with huge ottomans for relaxing and modernist table. This stunning room offers a great view of the beach, the pool and Los Arcos. You really feel as if you’re floating on water.

Next to this space is the fifth bed area with multiple functions. This space may be used for massage area or gym or as we show it with a futon for meditation or enjoy a good book from the library shelf.

The pool – this magnificent pool was created to incorporate an extremely large boulder in an infinity pool. The pool design won the best pool design for famed New York architect, Michael Gabbellini. Surrounded by tall pappellillo trees and large green area, the pool thrust to the sea with a great view of porpoises, whales and many other marvelous creatures of the sea.

Cross the beautifully manicured lawn and you find yourself on the steps leading to the white sandy beach next to the towering “Paredon Colorado” granite rock formation. Everything here is pristine and breathtaking. Warm, clear water with Pelicans coming to fish here and chances are they’ll be as curious about you as you are of them. Behind the beach there are three terraces – one with a white hammock waiting for the weary traveler.

You’ve arrived at your destination –

Elements of the house

Limestone walls

Wenge floors

Terrazzo white floors

All glass walls

Double height ceilings

In / out fireplace

Extra large one piece Bali doors

Imported Italian Poliform kitchen

Celosias

Elevator

Large laundry room

Two-car garage

Huge patios

Furnishings by World Renown Artists

Marcel Wanders

Antonio Citerio

Patricia Uquario

Tom Dixon

Claudio Silverstin

Holly Hunt

Marc Newson

Ingo Maurer

Jerome Abel Seguin

Fabian Baron

By Las Villas de Mexico

Las Villas de Mexico, a newly announced collection of luxury resorts spread across Mexico’s top tourist locations, is sponsoring the 13th Annual Luxury Real Estate Fall Conference, which will be hosted in Philadelphia on October 11-14, 2008 at The Ritz-Carlton, Philadelphia.

Planners of Las Villas de Mexico are currently building 1,000 luxury properties in four locations: Cancun, Puerto Vallarta, Cabo San Lucas and San Jose del Cabo. Subsequent phases are expected to include other Mexican destinations such as San Miguel de Allende. The first pre-construction purchase opportunities are scheduled to be offered in the first week of December 2008.

“We have created a whole-ownership concept that is altogether different from anything else on the marketplace,” said Brett Sawyer, director of international sales at Las Villas de Mexico. “By purchasing a Las Villas de Mexico home, owners become part of a greater community of multiple locations throughout Mexico, all of them dedicated to the very best luxury experience, from world-class golf and spas to stunning beaches.”

A twist on the traditional vacation home, Las Villas de Mexico allows buyers to stay at a number of homes in other popular locations while still maintaining ownership of their own property. Maintenance and security are also handled by the resort while the owners are away. Within five years, Las Villas de Mexico planners hope to complete construction on a total of 10,000 resort residences in other well-known vacation spots across the country.

“Every home we build is designed to be inspirational,” Sawyer said. “Perfectly wrapped in the history of each region, Las Villas de Mexico showcases an ideal blend of modern amenities. Behind every wall, inside every cabinet, we have filled every home with state-of-the-art convenience.”

Las Villas de Mexico will sponsor the Opening Night Reception at the Luxury Real Estate Fall Conference. More than 250 LuxuryRealEstate.com members from around the world are expected to attend the conference. Niurka, a highly sought-after keynote speaker, consultant and peak-performance coach, will speak at this event.


Editor’s Note:
Hmmm… this blog post sounds kind of familiar. I figured I’d give credit to Las Villas de Mexico for this blog post since they sent it to me. I hope you enjoyed it!

By Brian Langhorst

We have over 200 members from around the world joining us for the 13^th Annual Luxury Real Estate Fall Conference in Philadelphia, Pennsylvania! The dates are October 12^th through 14^th at the historic Ritz-Carlton Hotel. We have members coming in from all across the United States and Canada, as well as Spain, Mexico, Australia, Argentina and Thailand! We very much hope you will join us as well! There are great room rates still available at the Ritz-Carlton.

Please contact me at 206.695.4846 or BLanghorst (at) LuxuryRealEstate.com to learn more about this industry-leading referral and networking event.

See you in Philly!

Editor’s Note:
Brian Langhorst is Luxury Real Estate‘s Membership Manager. He meets members’ unique needs through the dynamic services LuxuryRealEstate.com provides. Holy cow! Two blog entries about the Fall Conference on the same day. We must be getting close to that event. Be sure to save your spot soon.

By Barbara Waugh

Cuernavaca’s perfect climate and proximity to Mexico City make it a favorite weekend retreat and the destination of choice for a large expatriate community.

If you’ve ever dreamed of owning (foreigners can own luxury property in their own name) or renting your own Mexican villa, this is the place, whether you’re looking for a winter retreat, summer vacation home, weekend getaway or year-round residence.

A strong buyer’s market exists for luxury homes in all styles, sizes and price ranges, usually including a pool and garden. But as prices rise, many of the real bargains are being snapped up, from the cool, tree-shaded heights of Rancho Cortes and Vista Hermosa to the warm, tropical gardens of Palmira and Acapantzingo, all fashionable Cuernavaca neighborhoods.

Both Travel & Leisure and The Robb Report, two popular U.S. luxury lifestyle publications, have ranked Cuernavaca as among the best communities in the world in which to live. Forbes magazine has on several occasions featured a luxury Cuernavaca property on its website as its Property of the Week.

Mexico City is an hour’s drive via a modern six-lane highway, and its international airport is a half-hour farther. The Cuernavaca airport, located on the outskirts of the city, offers limited commercial service within Mexico, charter flights and service for private planes.

At a lower cost than they would be charged at other world-class resorts, residents and visitors can enjoy golf, tennis and horseback riding, as well as holistic spas, fine international restaurants, cultural events, U.S. and international television programming, recreational parks and much more.

Many foreigners prefer Cuernavaca proper over life in the suburbs or countryside, citing privacy, security, convenience and cultural diversity.

Other resort destinations in the region, such as Tepoztlan, a charming village with a lively crafts market, and Cocoyoc, home to a popular golf course and equestrian events, have their admirers, but no outlying destination offers those four important qualities to the extent that Cuernavaca does.

Rental prices are higher during the high season, Thanksgiving to Easter, when it’s freezing up north. A house with all services, garden, pool and staff, rents from $250 a day, or about $7,500 a month, depending on size. Yearly rentals cost less proportionately, but offer fewer services.

Good neighborhoods in all areas offer a choice of property locations. Unlike other Mexican towns popular with expatriates, Cuernavaca’s international community is not concentrated in one place. You can choose to be in the Historic Center, near the impressive 16th-century Cathedral and the Cortes Palace, or in a quiet gated community, on a golf course or near equestrian facilities, at the Racquet Club, on a broad avenue or a cobblestone street – the choices are numerous.

Many residents live in a privada, a private street a block or two long with controlled access, security and no through traffic. A house built by a well-known architect in a privada with a lovely terrace, pool and garden is priced from about $475,000.

One key factor in deciding where to buy or rent is temperature: southern Cuernavaca is 1,000 feet lower than its northern counterpart, and can be as much as 10 degrees Fahrenheit warmer.

Building in a foreign country, and therefore in a foreign language, shouldn’t be an obstacle: English-speaking architects can help. It is cheaper and easier, however, to buy a property than build, and prices are negotiable. Besides, most of the best sites have already been built on.

As an owner, you may rent your property during the seasonal months for enough to cover the yearly maintenance. Absentee ownership will require a good administrator, which is easy to find. Time-shares are almost nonexistent, except among groups of friends or relatives who make their own arrangements; there are more condominiums every day.

Title insurance for Mexican real estate (TIMR) protects against risks involved in the transfer of property rights. The price of the policy may vary between 0.5 percent and 1 percent of the property value, according to an attorney familiar with the insurance. But most buyers do not need title insurance because Mexican notaries are civil servants responsible for ensuring that titles are clear and there are no liens or debts on the properties.


Editor’s Note:
Barbara Waugh is the Broker/Owner of Barbara Waugh Properties Cuernavaca. A real estate broker in Mexico for more than 35 years, Waugh has for the past 10 years been an affiliate of Who’s Who in Luxury Real Estate. For more information, visit www.barbarawaugh.com or www.cuernavacaproperties.com, or e-mail bw (at) barbarawaugh.com. These sound like some wonderful opportunities in Mexico. By the way, "Cuernavaca" means cow's horn in English. The photo above is from www.flickr.com/photos/kafka4prez/82996937 and it is the copyright of kafka4prez.

By Kelly Comegys

This was my first event with Luxury Real Estate and I am more than impressed! I didn’t really know what to expect, but it is safe to say I was blown away. The professionalism of the staff at Luxury Real Estate is noteworthy, as well as its attendees. I found that everyone was eager to hear about the new development, La Amada, in Playa Mujeres, Mexico. I cannot think of a better way to spread the word amongst industry professionals than through networking with Luxury Real Estate affiliates. I plan to attend every event moving forward. Thanks again.

Best,

Kelly Comegys
Master Broker
La Amada Residences
T +1 (786) 316 3006
www.laamada.com

Editor’s Note:
Kelly Comegys is the Master Broker of La Amada Residences in Playa Mujeres, Mexico. She is also one of our fantastic sponsors at the successful 6th Annual Luxury Real Estate Spring Retreat in San Diego last week. We’re so grateful for all of the exciting words people have been sharing with us. Ben Stein was positively electrifying and all of the messages were very useful for the attendees. Let’s keep moving forward!