May 2009 NEWSLETTER
Island NEWS |
Cozumel We received a great response to our Crime statistics from last months newsletter. Many thanks to those who voiced their concern and showed their support. We feel fortunate to have a community of people from all over the world who care so much about this great island. Everyone responded with not only how beautiful and rich their lives are here, but with great love of the people. Cozumel is the safest, most friendly, and caring community to all walks of life. Undoubtably there are some rising concerns and Cozumel has taken necessary precautions in avoiding the recent swine flu outbreak. There have been zero cases of swine flu in Cozumel. All port personnel are wearing masks and gloves, our schools have closed temporarily, and some air carriers and cruise ship liners have suspended their operations. |
"Rodeo de Lanchas Mexicanas" Cozumel's 38th Annual sport fishing tournament is the largest and most anticipated of the year. Fishing for Blue Marlin, White Marlin, Wahoo, Dorado, Tuna, Barracuda and other game fish brings competitors together from Mexico and around the world, with more than 100 boats participating. With extraordinary prizes, and loads of fun events along the waterfront, this event is open to the general public and all are invited to participate, simply register your boat in México! Please visit the web site below to see all 5 spectacular car prizes, tournament information and marina reservations. http://granslamdelcaribe.com/page1.html http://coral.radiocoralcozumel.com/rdlm.htm Tournament Coordinator: Oswaldo Pavía 987-878-5183 |
| CZM Airport Receives Millions Cozumel's infrastructure continues to improve! In addition to the major expansion of the Ferry Pier downtown, the CZM airport has been approved to receive $23.8 million dollars for development between now and 2023. The Mexican Ministry of Communications and Transportation has approved ASUR's Master Development Programs for nearly $600 million to improve south-eastern Mexico airports including: Cancun, Merida, Cozumel, Villahermosa, Oaxaca, Veracruz, Huatulco, Tapachula and Minatitlan. The project will span over the next 15 years with Cancun receiving the largest budget at $320 million. ASUR airport company is listed both on the Mexican stock exchange and on the New York Stock Exchange (NYSE), where it trades under the symbol ASR. |
AMPICOZUMEL publishes "Free" MLS Magazine |
Important letter to our friends
"Retire in Mexico - Investment Strategy" By Doug Jones, President Mortgages In Mexico I talk to people every week who plan to retire in Mexico, or are already retired and living in their own condo or home in Mexico. There are definitely some things to consider if living in Mexico is in your retirement plans. For those of you who are already retired and already own a home in Mexico, I often get requests for pulling cash out of their Mexico equity in their real estate. Remember, no matter how much you have in liquid assets or how much equity you have in your property - even after you put a loan on it - you still need to show sufficient income to qualify for your loan. We can count Social Security income, pension income, interest/dividend income, and possibly annuity income. However, as people live in their properties longer their desire to pull some money out of their home to increase their cash reserves to live on usually increase. Since there are no "reserve mortgages" in Mexico, I have to tell these people that there is no way to get their equity out short of selling their property. Keep this in mind when you purchase your property at the onset. You want to put as little cash into the property as possible and keep the cash in your pocket for future uses. Unlike in the US, the only way to pull equity out is to do a refinance (no equity lines of credit exist in Mexico), and this is an expensive proposition. You have to pay the loan fees (higher than in the US) and Mexico fees, which when added up and means less "net" proceeds from the refinancing of your Mexico home. If this is something you want to consider, you need to do this when you still have a good cash-flow of income. Even if you are still working part-time, it may be the right time to consider pulling cash out rather than wait until your stream of income decreases. Terms of cash-out refinances continue to tighten. We can now only loan 50% of the current value, with a maximum loan of $500,000. For those of you who are still working and looking to purchase with future retirement in the plans, then again, be sure to put the minimum cash into the property. It is also the best time to get a mortgage loan - while you're still earning money (either self-employed or a job). By putting down the minimum (20%), you will not run into the dilemma of having too much equity in your Mexico home that you can't get access to. If you have any questions on any of this or other questions regarding mortgages financing in Mexico, please contact me at your earliest convenience. ©Copyright 2009 Doug Jones, Mortgages In Mexico - used with permission. Doug Jones is the president of Mortgages In Mexico and is considered by many as the foremost expert in the mortgage field in Mexico. He has been doing loans full-time exclusively in Mexico since September 2004. You may contact Doug at doug@MortgagesInMexico.com or call (US/Canada) 918-398-9588, or in Mexico 555-350-6311. |
NEW LISTINGS |
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CASA KIWI Architectural gem in Corpus Christi! Unique 2 Bedroom, 2.5 Bath home filled with charming details and stylish warmth. 2 large bedrooms with baths, each in their own freestanding building. The Spacious Main house with half bath offers views to the front courtyard and back patio with pool. Quality construction and attention to detail throughout. Comes partially furnished. Lot size: 7.6 X 34 meters Approximately 258.4 square meters |
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PALMAS REALIS 1-D |
 HOT DEALS |
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RESIDENCIAS REEF #8120 |
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PENINSULA GRAND D-4 |
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LAS VENTANAS Now offering 4 great "in-house" financing options for qualified buyers! |
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VILLA FONDEVILLE #3 $147,000 USD |
| For more information on current issues, real estate, and living in Mexico International Living & Mexico Insider offer great tips! Email them today at: customerservice@internationalliving.com and editor@mexicoinsider.com. |
CHECK OUT THE COZUMEL LIVING MULTI-LISTING WEB PAGE TODAY!!!
Cozumel Living is a Multi-Listing company, we can assist you with other listings on the island.
If you would like additional information on these or any other properties, please don't hesitate to contact us !!!
US Phone: 1-214-230-6601 |
To dial Mexico from the USA: 011-52 (987) 869-2345
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| May 2009 K. Rauschl |
