| | |  Puerto Vallarta Real Estate | May 2009 
What's it Like in Vallarta These Days?
 John Swanson - PVNN
| | So, PV is down. Mexico is really getting a lot of bad press, but stay away from drugs and pigs and you probably have little to worry about. | |
What's it like these days in Puerto Vallarta? For sure they have been different lately!
In regards to real estate, we started "feeling it" last year like most markets. We are probably one of the better when it comes to weathering the storm of the economic downturn, but there's an old saying: "When the tide goes out, all the ships go down." We feel it, just not as much as many markets in the US.
Factors that are helping us hang in there are:
1. Tropical location. Even if properties are cheap in Philadelphia, do you really want to retire there? Say what you will, the climate is amazing here, the beaches gorgeous, the people friendly. Buy a condo, get a lifestyle.
2. Demographic of our sellers. While there is no doubt everybody is "feeling it", some feel it more than other. We don't really have "first home buyers" and while there are for sure some people that have borrowed to buy their Mexico vacation property, most of our clients can afford to keep them in the down times. "Dang, we have to spend Christmas in Mexico again" is not that hard to live with
3. Demographic of our buyers. There are a LOT of baby boomers who have decided on Mexico. They are usually well-to-do and many are inheriting the proverbial "farm." (As a side note, the largest transfer of money in US history is occurring as the "Baby Boomers" inherit from the "Greatest Generation.")
4. Relative value of real estate. Mexico isn't dirt cheap any more, but its value still is excellent. Think $399,000 USD for a nice two bedroom/two bath on a tropical beach. Try that in California (or anywhere with the amenities we have.)
5. Proximity. From the US or Canada you can typically eat breakfast at home and lunch in the tropics. I recommend the shrimp-stuffed avocado at Daiquiri Dick's!
6. Safety. I know you hear a lot otherwise in the press, but trust me. The drug lords at the border don't drive 1000 miles south to PV to hassle us tourists. Most of us have about a six-pack's worth of money in our shorts and (try this sometime) we take our watches off. What's the point?
7. Medical/dental is excellent and really cheap as well. You might not need as much of it if you laugh a little more, hang out on the beach with friends or practice skipping your cell phone across the water.
So what's it like down here now? Well, the Swine Flu didn't put any "butts in seats" on the planes for sure. It took me 10 minutes to drive from the hotel zone to the office in Old Town today, a new record I think. Most people are re-booking and I can't say I blame them given the press, but we haven't had any cases of the swine flu in Jalisco or our neighboring states.
It has been nice on the beach however, and the water is perfect for boogie boarding (my son's and my new thing.) As I was watching the sun go down (with a frosty beverage in my hand I have to admit,) I wondered how much of this drug cartel, killer flu press is based on reality. Seemed like any other day on the beach to me, but you decide. Mexico is getting a lot of bad press; some say it is to keep the Boomers spending money in the US. I'm not really a conspiracist, but I felt pretty healthy and safe given all the stories you see on TV.
If you didn't have a TV, all you really notice is there are not many tourists and all the kids are out of school. The bars open back up today; you would think it's a national holiday. Many parties are planned and people are counting down to the hour! Wish you were here.
So, PV is down. Mexico is really getting a lot of bad press, but stay away from drugs and pigs and you probably have little to worry about. It's pretty much the same things you would do in your home town: don't flaunt money, be nice to people and wash your hands. "All I Really Need to Know I Learned in Kindergarten" kind of stuff. I'm getting to be a contrarian... when the press says "stay away from Mexico" I go there. You can get tables on the beach, deals on anything, and generally being less crowded is an advantage.
You can buy real estate here at prices we haven't seen in years, from cheap to luxury. If you have any interest in getting your "place in the sun," give me a yell. I'm the guy with the blue boogie board.John Swanson is a real estate agent at Tropicasa Realty, a single father of his son Donovan and lives in Puerto Vallarta full-time. He also performs locally on his mandolin as part of "Blue Darlin".
 Looking for Puerto Vallarta real estate or rental properties? With over 100 years of combined real estate experience, all of the agents at Tropicasa Realty are affiliated with AMPI (the Mexican Board of Realtors,) and have either held real estate licenses in other countries or have had their own brokerages, providing clients with the benefit of their extensive knowledge and experience. So when Tropicasa Realty says "Your Security Through Our Experience," they have the history and background to support it. Click HERE to learn more about Tropicasa Realty, or visit tropicasa.com. |
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