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La Paz, Baja California Sur, Mexico - Welcome to our Fourth Quarter 2014 newsletter. During this quarter there were three major real estate events: the Annual Meeting of the Mexican Association of Real Estate Professionals (AMPI) in Tijuana, the annual Conference of the National Association of Realtors® (NAR) in New Orleans, and the inaugural class of the Real Estate Negotiation Institute in Mexico. In this issue, we also want to share with you news from Mexico's NAFTA team.
Tijuana Hosts AMPI Conference and Annual Meeting
The Mexican Association of Real Estate Professionals (AMPI) held its 43rd Annual Conference in Tijuana, Baja California. This was the first time in the history of the association that the annual event has been held on the Baja Peninsula. In addition to AMPI members, REALTORS® from Arizona, California, Illinois and Texas came to Tijuana. Click HERE to read more »»
NAFTA News
A few years ago I had the pleasure of visiting the headquarters of Mexico's NAFTA team in Washington D.C. I was impressed with the caliber of the staff members I met. Since then I have had regular communication with their office. Following is an excerpt from a recent newsletter commenting on the US-Canada-Mexico relationship.
"North America is home to almost five hundred million people living in three vibrant democracies. If the 3 North American countries deepen their integration and cooperation, they have the potential to again shape world affairs for generations to come..."
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The report proposes a comprehensive set of recommendations for deepening North American integration, concentrating on four pivotal areas - energy, economic competitiveness, security and community.
The innovation, investment and increased production in the energy sector is already giving North America a competitive advantage. Therefore, North American countries need a regional energy strategy to strengthen the continent's energy structure, expand energy exports, support Mexico's historic reforms, improve safety and encourage harmonized policies to promote energy conservation and reduce carbon emissions. For mainly economic and environmental reasons the report recommends that the U.S. encourage increased energy connections with Canada and Mexico such as additional pipeline capacity and that it end restrictions on energy exports including oil and LNG.
Following is an excerpt from another article in the newsletter:
"Over the last twenty years, Mexico has made a drastic transition from a relatively closed economy to one of the most open countries in the world. Aside from deregulating business activity and encourage private investment, Mexico has embraced international free trade agreements as a means to promote industrial competitiveness' and export oriented growth. Apart from the 10 Free Trade Agreements (FTA) that have already been implemented with 45 countries, including North, Central and South American countries The European Union, Japan and Israel the government of Mexico is working to open the gates of the Middle East by signing FTAs with Turkey and Jordan."
For more information, email John.Glaab(at)settlement-co.com.
Busy Year Ahead for Global Mexico
The Global Mexico Real Estate Institute (Instituto Inmobiliario Global Mexico A.C.) - IIGM is a Mexican civil association dedicated to raising the level of education among REALTORS® in Mexico. It is specifically dedicated to international real estate education.
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Below is the schedule for Baja California Sur:
• January 23-24: Accredited Buyer Representative (AB) Spanish, La Paz
• January 26-30: Certified International Property Specialist (CIPS) Institute English, Los Cabos
• February 2-3: Accredited Buyer Representative (ABR) English Los Cabos
• February 28: Resort and Second Home Property Specialist (RSPS), Los Cabos
It is expected that some attendees for the CIPS classes in Los Cabos will come from the U.S. and Canada. The event will be promoted by the National Association of Realtors® (NAR). In addition to receptions, there will be property tours and a chance to enjoy warmer, sunny weather and will be a great opportunity for international networking. For more info, see the Global Mexico website.
REALTORS® Congregate in the Big Easy
More than 17,000 REALTORS® gathered in New Orleans for the National Association of Realtors® (NAR) annual Conference and Expo. There were many successful associations, meetings, educational sessions and social events galore and a Celebrity Concert by Jennifer Hudson. Among the memorable events were the International REALTOR® Welcome Reception, the Inaugural Gala, the Certified International Property Specialist Breakfast (CIPS), and International Night Out. Read More »»
Real Estate Negotiation Institute Comes to Mexico
Cabo San Lucas was the first venue for classes leading to the Certified Negotiation Expert (CNE®) designation. The classes, sponsored by MLS/BCS and Global Mexico, were offered in Mexico for the first time and delivered by Tom Hayman, author of the course. He is the Founder and CEO of the Institute®. While many of the students were from Los Cabos, others came from La Paz, La Ventana, Los Bariles and Tijuana. Read More »»
Los Cabos Residential Market Report
By Martin Posch Windemere Real Estate
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The total sales volume from January 1 to October 31, 2014 on residential properties (condos & houses) is up by a 21 percent to $249,215,000 US Dollars. The average sales price is up by 21 percent to $681,000 USD. The total number of sales is up by 14%.
The condo market is starting to develop nicely compared to 2013. The total sales volume is up 46 percent to $42,372,000 US Dollars and the average sales price is up by 18 percent to $369,000 US Dollars.
Sales for single-family homes are up by 34 percent to $187,153,000 US Dollars. The average sales price is up by 26 percent to $945,000 US Dollars.
The percentage of list to sold price for condos increased from 90-92% and for single family homes from 88-90%.
Although activities have slowed down significantly due to Hurricane Odile, I think we will still have a great season going into 2015. By then the hotel rooms should be back to about 90% and most of the flights will be back to the normal schedule. But it will be a slow recovery. Pending sales are up 24 percent, so that makes me believe that we have hit bottom and we will see prices stabilize.
All the best to you for 2015!
John Glaab is Director, International Marketing at The Settlement Company, Mexico's oldest title and escrow company. A Certified International Property Specialist, he is a founding member of AMPI Los Cabos and the new Global Mexico Real Estate Institute. In 2012, John was named the International Real Estate Member of the Year by NAR. For further information, contact John at John.Glaab(at)settlement-co.com.
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