Real Estate in Mexico

[Michele]

Originally Posted by Michele

In response to numerous inquiries from friends and customers, today I will be starting a series, reoccurring monthly, of construction updates via actual photos of projects going up in and around Playa del Carmen! Many of you have already purchased pre-construction property here in the area and are now back at home, no doubt, wondering what the heck is going on with your money! Well, here you go! At the beginning of every month, I will visit various properties in progress, take pictures and report back.........

Playa del Carmen Construction Update - Issue 1

Playa del Carmen Construction Update - May 2008

Lots of developers working fast to make sure their projects are up and running for the next high season!!

[mfl*s queen]

Michelle, thank you for the update on our "jungle view". I will keep checking back.

[Michele]

Originally Posted by mfl*s queen

Michelle, thank you for the update on our "jungle view". I will keep checking back.

Yeah, sorry about that.

[CollinsGirl]

[We purchased a home in phase 2 about 12 years ago...with a cenote backing to the property we were told the same 'no one can build behind you'. Since then the cenote has been 'protected' by a public trail which necessitated donating a few feet of our lot. Now the fence is right next to the pool and there is no longer grass in the back yard, and walkers have a great view of the yard, pool and back of the house.
We recently sold the home: among the trials in that process - the buyer wanted to pay cash and made a deposit, then wanted to use the house for vacation before it was paid for. We said absolutely not, but a few weeks later we received emails from friends that the house had been painted, the landscape had been removed, etc. The real estate person said a deal had been made with the buyer but they FORGOT! to let us know. As long as it takes work to be done in Playa, we are sure the 'deal' was in the works for some time. Then we discovered that since we had purchased the house when Playacar was up for sale and titles were not being released, the notary wanted to charge us 58% capital gains because we had only had title for 4 of the 11 years we owned the house. A switch to another notary brought the capital gains tax back into line. It's easy to fall in live with Playa and buy a home, but the process of selling is really something else again. Anyone can sell real estate, and there are lots of people out there who are willing to take your money in some amazingly creative ways! Buyer beware!

[Michele]

I hear stories like this far too often but with far less frequency than a few years ago. I think most of the bad apples have gone on to greener pastures with less informed buyers. At least I hope so. Both buyers and sellers need to make sure they are being properly represented. When in doubt, get references!!

Collinsgirl - I just sent you a pm as well.

[Michele]

I am going around to do the June Construction Update tomorrow. Any last minute requests for photos? Any projects you want to check up on?

[Michele]

Not a lot to show this month as the weather kept a lot of the jobsites near stand still.

Playa del Carmen Construction Update June 2008

I drove by Vaiven and there is nothing to show since last month. It's still just a big hole in the ground. Not a lot of activity due to the weather. Lots of builders are going to be playing catch-up when this weather finally breaks.