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 Puerto Vallarta Real Estate | June 2006 
Making Dreams Come True in Mexico
 Angela Kocherga
| | Experts predict more Americans will move to Mexico in the near future as baby boomers cross the border in search of affordable retirement property. |
Puerto Vallarta – Places like Puerto Vallarta and Cabo are popular vacation spots for Western Washington travelers. But now many of them are also buying homes along the Mexican coast, sparking a boom in once-remote regions.
Can you still get your dream home in Mexico?
In the state of Nayarit along Mexico's Pacific coast, many of the real estate signs are in English.
"I think it's going to be one of the premiere, upscale residential options for Americans here in Mexico," said Fred Feibel, real estate agent.
Feibel sells real estate in the region. The Houston native moved there eight years ago when the area was largely undiscovered by Americans, except for a few surfers.
Real estate experts in this once remote area said prices have doubled, tripled and in some cases quadrupled in recent years. A few homes are selling for more than a million dollars.
It was the beaches that attracted Carol Davenport. The real-estate broker from Dallas moved there last summer to scout properties for Texas investors.
But what about those who don't have millions to invest? Can they buy a dream home in Mexico?
It depends on the dream.
"You can't have somebody who retires on $600 a month and expect them to get resort property. That's not realistic," said Davenport.
But the real estate experts say there are still bargains, though not right on the beach.
"One can live in Mexico on any budget," said Ann Emboury, a resident of Nayarit. "We're not investors. We just wanted a tranquilo home. We wanted to be part of a community."
The former Tucson teacher moved there with her husband and dog Roy less than a year ago. They live in a modest home just a few blocks from the beach in a tiny village – one that has not been discovered by developers yet.
Experts predict more Americans will move to Mexico in the near future as baby boomers cross the border in search of affordable retirement property. |
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