A good question and a good place to start! There are a number of reasons why Puerto Vallarta and Riviera Nayarit are the top tourism real estate markets in Mexico. Both are easy to reach from major cities in the US and Canada. Vallarta embraces the best of Mexican culture; with its quaint downtown and oceanfront boardwalk offer make you feel like you actually are in Mexico, more than other, more commercial real estate destinations in the country, such as Cancun and Los Cabos. And Riviera Nayarit, with its small seaside towns and “all you’ll ever need” Nuevo Vallarta, complement well with its neighboring, now bustling city of Puerto Vallarta.

Three major marinas, ten golf courses, a bay that has good sailing winds all year round and access to great fishing, diving, surfing and snorkeling. And best is the people of the region, friendly and accommodating, making Vallarta and Riviera Nayarit Mexico’s largest USA/Canadian retirement and second-home real estate market in the country. Here’s a few excellent articles for more information: “Why Puerto Vallarta”, “Best Place to Retire?”, “PV: A Real Estate Success Story”

Make a list of the things that are most important to you.
• Do you want to be close to town or do you want to get away from it all? More people are moving towards developments for social and security reasons, and because they relish a sense of community.
• Do you want a condo, a villa or home? All options are readily available so consider the pros and cons of each.
• Amenities? If amenities and activities such as golf, surfing, shopping are important, find out where the ones you’re most likely to frequent are located and investigate the housing options within reasonable proximity.
• Is having a view important? The Puerto Vallarta area offers river, ocean and jungle views, with prime properties offering all three.
• Which floor is best when purchasing a condo? All floors have their pros and cons. Talk to others to live in condos and find out their preferences, especially if you’re coming from a single-family dwelling.
• Will this property be primarily used by adults or entire families? Some developments cater more to adults, while others have beach clubs and children’s activity programs and are suited for the entire family.
• Do you need quick access to medical facilities? There are some excellent hospital throughout the area. Make sure you know their location before viewing properties if this is an essential amenity.

These articles offer good information: “Buying Real Estate in Mexico”, “Realizing the Dream” and also "Principal Regions and Areas of Costa Vallarta"

Yes, you should, whether you are buying or selling. The process is not as simple or straightforward as it is in the USA and Canada, and there are potential obstacles that a guide will help you navigate through (unless you speak Spanish, you’re at an immediate disadvantage). They also have access to marketing tools, such as the MLS, that sellers are not privy to.
Recommended Articles: "Should I work with a Realtor?"

Multi-List Vallarta is a marketing tool for real estate offices so that they can promote their properties in the best way possible to prospective purchasers. To get your property featured on this search interface, you must work with a MLV member office. Click here for a complete directory of MLV members.

AMPI, the Mexican real estate association, has three chapters in Puerto Vallarta that provide traditional real estate services and also ensure that realtors are behaving according to the highest professional standards. There is no licensing currently for realtors in Mexico; however, in Puerto Vallarta AMPI has stepped in to fulfill a similar role as best they can.

There are a number of great neighborhoods throughout Costa Vallarta that have become popular as second- or retirement- home destination for Americans and Canadians. Its worth getting a car, or a good real estate agent who can show you around, so you can explore each area, to see what would suit your needs best.
Recommended Articles: “Principal Regions & Areas of Costa Vallarta”, “In Search of the Elusive “Perfect” Condominium…”, “Realizing the Dream: Making the Move”, “Marine Living”, “Fairway Living”

There are a number of ways you can “own” a piece of paradise in Puerto Vallarta and this doesn’t always mean that full-time ownership may be best for you. If you are only going to be using your property a few weeks a year, perhaps timeshare is best. Or if you need more time, and actual title ownership, perhaps its fractional ownership. This article helps describe a number of ways you can “own” a property in PV - “Vacation Home Options”.

Our MLS service, one of the first and the longest running in Mexico, comprises two systems, Multi-List Vallarta (for the resale market) and Multi-Dev Vallarta (for developers), which are merged together on our websites. It can be found at www.mlsvallarta.com or www.vallartarealestateguide.com or on many real estate company websites.
Recommended Articles: “Multi-DEV Vallarta”

Yes, although the restricted zone specified in the Mexican Constitution prohibits a foreigner from acquiring direct ownership of land within 100 kilometers along the border or 50 kilometers along the coast, you can obtain all the rights of ownership in the restricted zone via a bank trust known as a “fideicomiso.” Since Vallarta lies within this zone, you need to use a trust here if you are not Mexican, but for all intents and purposes, it’s just like getting title.

Because of the restriction mentioned above, a buyer can request a Mexican bank of his choice to act as a trustee on his behalf. The fideicomiso (trust) can be established for a maximum term of 50 years and can be automatically renewed for another 50-year period. The title is transferable to any other party. The bank becomes the legal owner of the property for the exclusive use of the buyer/beneficiary, who has all the benefits of a direct owner.

Consider our print publications: Vallarta Real Estate Guide (free distribution all over town), Costa Vallarta/Riviera Nayarit (newsstands, real estate offices and boutique hotels) and Vallarta Lifestyles (hotel rooms, newsstands and advertising clients). Or check online: www.mlsvallarta.com, www.vallartarealestateguide.com or www.virtualvallarta.com.
Recommended Articles: “Doing your homework”

Whenever a real estate purchase takes place in Mexico, a number of additional closing costs are involved and should be taken into account. These can vary in amount and complexity, depending on the type of transaction and whether a trust is involved, and are determined by the notary office of your choice, along with the real estate agency handling the transaction. The following examples, provided by Tropicasa Realty, are broad guidelines that should give you an idea of what to expect.
Recommended Articles: “Closing Costs for Buyer & Seller”, “Taking Control of Trust Fees”

Property taxes are very low compared to USA and Canada; however, condos charge additional fees, such as homeowners’ association and master homeowners’ association charges. Utilities are reasonably priced, and household staff, such as maid, chef and butler, is extremely affordable.
Recommended Articles: “Taking Control of Trust Fees”, “Now that I have bought property in México, what do I have to do to keep everything current?”, “Leaving the Dream in Good Hands”, “Useful Information for the Real Estate Owner”, “Realizing the Dream: Making the Move”

Have you seen that perfect property on the bay, but you’re not quite prepared to cash in your US or Canadian investments to make it yours? Are you set to make the move to Puerto Vallarta, but just a bit shy of ready cash for a condo? Now you can stock up on suntan lotion, because mortgage financing has come to Mexico. “The secret of great living and investment opportunities in Mexican resort areas is out!” points out Eduardo Perez of Conficasa International, and he believes that “the availability of loans will only fuel that growth, with Vallarta leading the way.” Traditionally, real estate purchases in Mexico have been limited to full cash payment at the time of closing, but recent changes in Mexican regulations regarding foreclosure on foreign-financed property have made lenders more comfortable, and cross-border loans are now available through several brokerage firms with representatives in Vallarta. Lenders range from internationally known financial institutions to private entrepreneurs and funds.

Terence Reilly of Mexlend explains that because real estate here has been moving upwards so steadily lenders want to participate in this stable, but vibrant, market. A key word in real estate lending in Mexico is “variety.” While some brokers handle only completed residences, others are exploring refinancing, construction loans, pre-construction bridge financing and advances for unimproved lots. Loans are available in both US dollars and pesos, primarily to US and Canadian residents. And terms can range from five years up to 30, with 20-year loans being the most common. Although interest arrangements vary from fixed to floating rates based on an index such as “prime,” rates are generally higher than in the USA. Other variables are title insurance requirements and loan fees. Qualifications for borrowers take into account that many people buying in Mexico will no longer be employed when living here, so lenders will look at available assets and credit history, as well as income. The process, which usually takes about 60 days from application to closing, is similar to procedures in the USA, and initial applications may be available online. “The market is hot these days even without financing, and these advances in financing will heat it up even more,” points out Doug Jones of Mortgages in Mexico.

So what’s next? Talk to a mortgage broker before you start looking to find out first what financing is available and what you qualify for; your real estate broker can assist you with this selection process. Recommended Articles:“Mortgage Financing”

Advantages:
• When it’s time to leave, you simply lock the door, making it more secure than a private home.
• Sharing maintenance costs with the other residents lowers monthly expenses.
• Condos often offer a better view if you live on a higher floor.
• Because 80 percent of the product inventory in Vallarta is condos, there are properties available at all price points, with a wide variety of locations and styles to choose from.

Disadvantages:
• Sharing your costs means living in close proximity to others.
• Decisions about the property are made by group majority and may not reflect your preference.
• Homeowners, association meetings can be challenging, particularly for those who’ve never lived in a condo.

Recommended Articles:“In Search of the Elusive “Perfect” Condominium…”

The HOA is responsible for maintaining and administering the common areas of any project or development. They collect maintenance fees from the owners, provide reserve funds, pay the bills and work with a board made up of homeowners. A well-run association can keep your costs down, but it’s a good idea to find out how it’s functioning in any property you may be interested in. This is something that is too often overlooked when prospective purchasers are considering a property.

What the condo fee covers varies from project to project, so research thoroughly before purchasing to find out exactly what the fees include.