Puerto Vallarta, Mexico – Elias Garcia, a veteran real estate broker who has been operating in New York City since 2006, has recently relocated to Puerto Vallarta, bringing with him more than 17 years of expertise and experience in all aspects of real estate.
Garcia and his partner Gil, who have been together for more than 26 years, just opened Mi Casa PV Real Estate and are offering a bilingual multi-service from sales to rentals.
“New York City is one of the most competitive, high-end real estate markets,” Garcia explained. “I am bringing that experience to give our clients a boutique feel and flexibility, along with attention to detail, their wishes, and needs.”
He said his new firm will focus on client communication in real estate sales and vacation rentals.
Elias was born and raised in Veracruz, Mexico, and understands the culture and the real estate atmosphere. Gil was born and raised in Israel, both are residents of NYC since 1989.
“We visited Vallarta for the first time in 2020, during the pandemic, and absolutely fell in love with PV,” Garcia said. “We immediately knew this was the place we wanted to set roots both personally and professionally. It was during this visit that we locked our first condominium in Zona Romantica, which was followed by a second pre-sale condominium in Zona Hotelera just a year later.”
Their firm is a one-stop shop for anyone looking to purchase a condo and then rent it out as an investment. They can find that perfect condo in your price range and guide you through the purchase process. Once it’s closed, they can manage the property and list it for rent.
“We are an experienced host with a very high rating and a 95% occupancy rate year round,” Garcia explained. “We will be taking on a limited number of vacation units to maintain the highest level of service to our customers and guests. We have a dedicated cleaning crew and a manager to greet guests if needed. Our experience as hosts tells us that communication is gold when it comes to setting up goals and monitoring vacation rental performance.”
And as property managers – which is a must if you plan to go the rental route – Garcia said his new boutique firm is able to provide flexible terms.
“Our flexibility goes from setting up an online presence to regular maintenance, repairs, bill payments, to setting up competitive pricing with the owner’s full involvement in the vacation rental process,” he said. “We are offering low introductory rates of $100 USD flat monthly rate for management and 15% of the net booking rate + $50 check-in + cleaning fee, which is normally covered by the guest.”
Garcia said his firm had been witnessing a slowdown in third quarter sales for 2022, driven by low inventory and the US and Canadian real estate markets.
“That being said,” he added, “The market is still up for 2022 versus prior years. The slowdown is attributed mainly to low inventory, which is expected to be remedied by new constructions and pre-sales hitting the market very soon.”
The Puerto Vallarta real estate market is also driven by the US and Canadian real estate markets, particularly, by real estate equity which traditionally helps finance new purchases in PV. Both the US and Canada’s slowdowns and high interest rates are slowing sales in PV.
“The good news is that some Mexican banks are now offering US and Canadian residents some financing options,” he said.
As a new broker in the area, he said they are in the final stages of joining the local real estate professional firm AMPI (Asociación Mexicana de Profesionales Inmobiliarios) and that their application would soon be complete. AMPI membership allows access to the MLS listing service and is the gold standard for real estate professionals in the area.
“We feel the importance of a trusted agent to navigate the sale of a home in a foreign country should be very high on the list of buyers and homeowners who wish to sell,” he said. “As buyers and owners of three properties in Mexico, we can’t stress enough the importance of having a responsive and knowledgeable team on your side.”
The firm is also recruiting highly motivated individuals to join their real estate team. Please get in touch with them at Info(at)MiCasaPV.com if you are interested in a position.
Written by Jerry Jones of Out and About Puerto Vallarta
A boutique agency with a great approach to managing all your real estate needs, Mi Casa PV Real Estate provides a complete range of services to make owning a home in Puerto Vallarta easy. From real estate sales to investments and vacation rentals, Mi Casa PV covers all your needs for buying or renting real estate in Puerto Vallarta. For more information, stop by the office at 2015 Av. Francisco Medina Ascencio Local-27B in Plaza Genovesa, call +1 917-291-1007 in the US or +52 322-105-5091 in Mexico, email Info(at)MiCasaPV.com, or follow Mi Casa PV Real Estate on Facebook.