This Week in Riviera Maya Real Estate

News from the Week Ending 11/24/2006

1. - Realtors Report Business has Picked Up Significantly in the Riviera Maya
2. - Local Youth American Football Team Goes Undefeated Sponsored by Local Realtors
3. - New Sales Manager Hired at Riviera Realtors
4. - MLS 4 Riviera Maya Reports Big Growth in New Listings Posted

Elizabeth Gregg from Elimar Properties, a new MLS 4 Riviera Maya member has just received several new juicy listings.  Elizabeth says she will post them on MLS 4 Riviera Maya this coming week.  "I just recieved them a few hours ago....I have to process and then post them.  Business is booming here and we are so busy.....it's great. The high season is here!" says Elizabeth

Don Rhodes from Caribe Properties also reports a significant increase in activity in his office as does Clark Kent of Remax-Playa in Playa del Carmen.  Clark says "the walk-in traffic has increased big time..super busy here in the office".

In Akumal, Pamela DiOrio of Luna Maya Real Estate reports that Akumal is at almost 100% occupancy and that walk in traffic has been great. "Hopefully this is a precursor to what will be our best season ever" says an upbeat Pamela.

Lack of Certainty in Titling Inhibits Investment in the Riviera Maya

Title Insurance is key to your Purchase in the Riviera Maya

by Ivan Castillo, General Manager of Stewart Title in Playa del Carmen

Mexico offers an exciting opportunity for real estate investment. The 1994 liberalization of ownership provisions, provides non-Mexican nationals with greater legal freedom and ownership rights, opening the market to new sources of capital and providing non-Mexican nationals with many exciting investment locations. But before any investment is made a purchaser needs to be aware of the basic issues that surround property transfers and ownership laws.

At Stewart Title, we recommend these six principles to help buyers avoid risk;

by Sabrina Boyd, Mortgages in Mexico 

Hello All, here is the information Mortgages In Mexico has been waiting on from GE Capital!

We have a 30 year fixed loan program - 8.99% - excellent rate!  It's a 10/20 - fixed for 10 years and adjusts for 20 - total of 30 years - 8.625% (8 5/8%) We also have 5/25 - fixed 5 years, adjusts for 25 years - total of 30 years - 8.375 (8 3/8%) and a 3/27 - fixed 3 years, adjusts for 27 years - total of 30 years - 8.25% - this rate has gone up from the 7.99 we've all known (interest rates continue to go up in the US and this increase in the cost of money is reflected in our Mexico loan programs)

Cash-out Refinance loans are now available - maximum cash out $500,000.  Loan amount will be limited to 70% of original sales price, or 50% of current appraisal. 

Get to Know the Dynamic Women in Business of the Riviera Maya

Riviera Realtors adds News Sales Manager to Team

by J.P. Money 

Riviera Realtors is pleased to welcome Shanna Giannakis as Sales Manager for Riviera Realtors. A welcome addition to their team, Shanna is originally from Montreal, Canada and now calls Playa del Carmen her home.

Educated at university in Montreal Canada and with work experiences in Saint Martin and elsewhere around the world, Shanna brings her a high level of professionalism, enthusiasm, and world class business acumen to Playa del Carmen and our Riviera Maya.

With a background in marketing and the leisure travel industry she brings a fresh and energetic approach to our vacation and investment property industry. 

 “If it takes a village to raise a child then I believe it takes a great team to find the best investment and vacation properties for our clients.” Shanna was quoted as saying when we visited with her at her office in Playa del Carmen.

You've Purchased Your Vacation Condo, now what?  Learn how to make the connections that get things done here in Playa del Carmen from one of the area's top professionals.

Remember, Rome Was Not Built In a Day!

by Elizabeth Gregg

Let´s face it.  Most of us aren´t interior designers.  So when you purchase your new home or condo in the Mexican Riviera you realize,  "  Now I have to furnish this!"  In most of our past experiences with properties we have grown accostomed to moving to a new home with at least some furniture and belongings from the previous one, making it somewhat easier to decorate.

Five years ago when we purchased our first property here in the Riviera Maya of Mexico it came with no appliances, air-conditioning was not installed (not included), no overhead fixtures/ceilling fans and no toilet seat covers!  Imagine the quagmire with rusty Spanish to have to search all over Cancun for everthing from ceiling fans to towel bars not to mention the furniture.  After that we had to hire a moving truck to haul all of our stuff back to Playa del Carmen or wait to have it delivered.  Whew!  Just remembering that experience makes me break out in a sweat.