By Harriet Murray ● Cochran Real Estate ● June 2013
Recently the real estate agents in Ampi Vallarta held their monthly meeting in Fluvial. One of the topics to discuss was the current real estate market. In general, the agents agreed that there is more sales activity for residential, particularly condos. Prices are not back to prior years from 2009 and earlier. Some areas, however; have experienced higher prices per meter from the lows of 2010-2011.
The number of vacant locales in the downtown commercial area caused discussion as far as what role can agents play in the recovery of that market. Agents, to their credit, have been trying to stay in the business by finding all kinds of opportunities for sales and rentals.
There are a number of locals of different sizes suited for different commercial and business uses, but they are vacant. The comments from the experienced members of the group was not optimistic that the owners, who are not used to using agents or paying commissions, will change their attitudes in the near future, even if we could help them.
There are some business owners who blame the remodeled downtown boardwalk, for their lack of business. This was hard for the agents to believe, but few of us have talked to any of these owners personally to get their perspective.
The task at hand is to find out if an organized effort among our Ampi real estate agents will be able to succeed in bringing new business to the downtown and create more professional commercial real estate agents.
This article is based upon legal opinions, current practices and my personal experiences in the Puerto Vallarta-Bahia de Banderas areas. I recommend that each potential buyer or seller of Mexican real estate conduct his own due diligence and review.
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