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2018 Vallarta Real Estate Fair

Next Saturday, (March 3rd), the annual Vallarta Real Estate Fair of the Timothy Real Estate Group will be held between 9AM and 2PM at the Rivera Molino Plaza on the corner of Aquiles Serdan and Ignacio L. Vallarta in the Romantic Zone, and admittance is free.

Purchasing real estate abroad naturally comes with a lot of questions, from the practicalities and legalities involved with buying a home internationally to general concerns regarding how to make the most of your new life in your exciting new home in Puerto Vallarta. The Fair can put you in contact with experts in the fields of real estate, interior design, taxation and immigration, health care, vacation, property managers and long term rentals, mortgage brokerage and more.

For buyers, sellers and residents, the Fair is an invaluable experience to maximize the investment potential of your real estate and enjoying the best of the Puerto Vallarta lifestyle.

So mark your calendar – March 3rd from 9-2…

Vallarta & Nayarit Golf Directory

Below is a directory of golf courses located in or near Puerto Vallarta. For information regarding golf club memberships and their rates, visit here.

El Tigre Club de Golf – Paradise Village

18 holes, par 72, 7239 yards
Blue tee box: 6607 yards,
Rating 74.5, Slope 133
Designer: Robert Von Hagge Group
Location: Nuevo Vallarta, Nayarit
www.eltigregolf.com • (322) 297-0773

El Tigre was designed on a flat surface. To make the course more interesting, sand and water define the golf holes: 12 holes feature water with three “beach” bunkers. In addition, Hole 1 starts on a shallow green alongside a street, and Hole 18 certainly offers the toughest finish. This course hosts a number of national and international tournaments. Paradise Village created the additional draw of a full-service spa in the club house and a complete sports club nearby.

Flamingos Club de Golf

18 holes, par 72, 6853 yards
Blue tee box: 6982 yards,
Rating 72.5, Slope 130
Designer: Percy Clifford, opened 1978, refurbished 2006
Location: Flamingos, Nayarit
www.flamingosgolf.com.mx • (329) 296-5006

Although this was the first golf course in the area, the design by Englishman Percy Clifford took total advantage of the natural terrain. Over the years, it fell on hard times, but the recent renovation brought it back to its deserved professional level. Three tee boxes from each hole offer every golfer a truly challenging game. Here you can appreciate wildlife such as crocodiles, turtles, birds and even anteaters during the course of a game. Flamingos hosts a number of local fundraisers and other charity events for the community.

Punta Mita Golf Course Pacífico

18 holes plus one optional #3 for a total of 19,
Par 72, 7014 yards
Designer: Jack Nicklaus
High-Season Rates:
This private course is exclusively available to members and their guests.
Location: Punta de Mita, Nayarit
www.fourseasons.com/puntamita/golf.html • (329) 291-6000

Punta Mita Golf Course Bahía

18 holes
Par 72, 7035 yards
Designer: Jack Nicklaus
Rate 74, Slope 135
High-Season Rates:
This private course is exclusively available to members and their guests.
www.fourseasons.com/puntamita/golf.html • (329) 291-6000

The Four Seasons Punta Mita Golf Courses are located on one of the most beautiful spots at the north end of Banderas Bay, with magnificent ocean frontage. It is home to the acclaimed Tail of the Whale, an optional hole on a small islet accessible by an amphibious golf cart during low tides. The Jack Nicklaus Signature Pacífico course has been voted “Best Course in the World” by Condé Nast Traveler. While Pacífico follows the contours of the coastline, Bahía include lagoons, stunning slopes and the beach just below the El Faro lighthouse.

Vidanta Resort Golf Course – Greg Norman

18 holes, par 72
Blue tee box:
Designer: Greg Norman
Location: Nuevo Vallarta, Nayarit
www.mayanresortsgolf.com • (322) 226-4000

The Greg Norman Signature Golf Course at Vidanta Nuevo Vallarta encompasses the finest in golf with unsurpassed course conditioning on wall to wall Paspalum playing surfaces. The exciting layout winds along the banks of the Ameca River providing views of the Sierra Madres from every hole. Large landing areas off the tee give way to large undulating greens protected in typical Norman fashion by cavernous bunkers. Indigenous trees, native grasses and jungle surround the core course layout which is uninterrupted by housing and civilization throughout. As challenging from the championship tees as it is forgiving from the forward tees, the Norman course offers four different options for players. All this and a trip across the world’s longest golf cart suspension bridge spanning the Ameca River from Nayarit to Jalisco, and you’ll not experience a round like it anywhere else in the world.

Vidanta Resort Golf Course – Jack Nicklaus

18 holes, par 70, 6,668 yards
Blue tee box:
Rating 70.4, Slope 122
Designer: Jack Nicklaus
Location: Nuevo Vallarta, Nayarit
www.vidanta.com • (322) 226-4000

Surrounded by lush jungle and the Sierra Madre Mountains on one side and the Pacific Ocean on the other, The Nicklaus Design Golf Course at Vidanta Nuevo Vallarta is a natural and technical masterpiece. This 6,668 yard, par 70 course is a joy to play for every player, from your low to high handicap. But with seven lakes, 49 strategically placed bunkers, and constant, strong crosswinds coming off of the ocean, this course always presents a challenge.

Marina Vallarta Club de Golf

18 holes, par 71, 6701 yards
Tee box: regular, yardage 6093,
Rating 70.0, Slope 125
Designer: Joe Finger, opened 1989
Location: Marina Vallarta
www.vidanta.com• (322) 221-0073

The Marina Vallarta Golf Course was one of the early ones, and continues to be one of the most popular because of its proximity to town, the Maritime Terminal and airport. Its unique feature is that your game includes the added dimension of crocodiles, iguanas, turtles and a wide variety of native birds. Located in what was originally a swamp, water is a characteristic of most of the holes. It’s a challenging course and fun to play.

Vista Vallarta Club de Golf – Weiskopf

Two 18-hole courses in one location
Designer: Tom Weiskopf
Par 72, 6,976 yards
Blue tee box: 6,993 yards
Rating 71.6, Slope 134
Location: Puerto Vallarta

Vista Vallarta Club de Golf – Nicklaus

Designer: Jack Nicklaus,
Par 72, 7057 yards
Blue tee box: 7,073 yards,
Rating 71.6, Slope 134
Location: Puerto Vallarta
www.vistavallartagolf.com • (322) 290-0030

Vista Vallarta features two distinct designers. Tom Weiskopf retains as much of the original landscape as possible, making modifications only to accommodate the game. The feeling is very natural; the trees are native and the contours follow the curves of the hills. Jack Nicklaus likes to start with a clean slate, so he clears away to create wider greens. In fact, his stadium effect is what made this course function so well for the World Cup and other competitions. It’s a great course to see golf as a spectator. And the spectacular views include the sea on one side and the mountains on the other, a unique feature. Access from the airport or Maritime Terminal is an easy ten-minute drive.

Litibu Golf Course

Located in Nayarit, near Punta de Mita on the back road that links Punta de Mita with Sayulita, in a government built resort development. Designed by Greg Norman, it is a challenging course where seven holes are “link” style holes and eight other holes are surrounded by jungle. The last three Litibu golf course holes run along the Pacific Ocean with impressive views of Punta Mita and Mexico’s western coastline.

Par 72, 7022 yards
www.fonaturoperadoraportuaria.gob.mx • (329) 29 84091

Is Puerto Vallarta Safe?

First, if tourists visiting Mexico is a good indicator how safe Mexico is, then it certainly is as 38 million people visited Mexico in 2017, 12% more than they year before.
But we cannot ignore the fact that Mexico does have a crime and violence problem, aggravated by the drug cartels. 23,000 people were killed in Mexico last year, making it one of the most dangerous places in the world. What needs to be taken into consideration is that Mexico is a very large country and there are places where the overwhelming majority of these crimes are taking place, but many areas where crime is no where near as common. Mexico’s Minister of Tourism, Enrique de la Madrid, recently stated that eighty percent of all destinations in Mexico are safe. And Puerto Vallarta is certainly one of those safe destinations.

As a country, the US government’s travel advisory system rates Mexico at a Level 2, which is the same as for Germany. Traveling to Mexico is fine, but tourists should exercise increased caution. They recommend that visitors:

Use toll roads when possible and avoid driving at night.
Exercise increased caution when visiting local bars, nightclubs, and casinos.
Do not display signs of wealth, such as wearing expensive watches or jewelry.
Be extra vigilant when visiting banks or ATMs
The U.S. government has Level 4 warnings (meaning “Do not travel there”), for the states of Guerrero, Colima, Michoacán, Sinaloa and Tamaulipas. The state of Jalisco (where Puerto Vallarta is located), is at a level 3 (reconsider travel), and certainly has had its share of drug cartel activity, but the areas most affected are hundreds of kilometers away from Vallarta. For Puerto Vallarta itself, there is no travel warning in effect by the U.S. government travel advisory system.

Visitors and expats to Puerto Vallarta and Riviera Nayarit should feel safe, as safe as they would back home, as long as they take the precautions recommended. Millions visit Vallarta each year and very few altercations are reported.

Southside Vallarta New Real Estate Developments

The area that has seen the largest increase in new real estate development in recent years is the southside of downtown Puerto Vallarta. There has been boom in boutique condominium projects situated a block or two from the beach, in the “colonia” commonly known as Emiliano Zapata.

So is it southside Vallarta or Emiliano Zapata? Well, it is both, and more. It is also known as Old Town, or “Zona Romantica” and actually entails the colonia referred to as Olas Altas as well. So let’s back up a bit so we can better understand the borders of this area. The river Cuale runs through the middle of Puerto Vallarta, separating it into to two regions that are actually quite different from one another. And although the southside is sometimes known as Old Town, it is not, it is actually younger than the northside of the Cuale. In Vallarta’s early years there were no bridges over the Cuale, which limited development so most of Vallarta began on its northern shore. It was only with the construction of a bridge that the southside began developing.

North of the Cuale is more touristic, with the primary part of the promenade, lined with bars, restaurants and nightclubs. There is less tourism real estate here, and what there is, is on the hillside behind. But it hasn’t seen any of the recent development that the southside of the Cuale has seen.

In MLSVallarta this area is known as South Vallarta, and its borders would be the Cuale river on its northern border, the ocean and beach (Los Muertos) on its western border, and hillside neighborhood of Amapas to the south. Its eastern border is the #200 highway that runs around and south to Costa Careyes and Manzanillo. Most of the real estate activity, however, nestles close to the beach area of Los Muertos.

Primary real estate activity has been situated along two popular streets; Venustiana Carranza and Basilio Badillo, which run up from the beach eastwards. Development here is drastically changing the look of these streets, as small homes and shops have been torn down to be replaced by condominium towers and upscale shops and restaurants on the ground floor. Most is still under construction, but already many commercial endeavors have moved in and are open for business.

To view a map where all these developments and more are located, visit the Developments Page of MLSVallarta.

On the corner of Carranza and Constitución is the project Zenith with now finished condominiums available and shops and boutiques situated below. Across the street, under construction is Urban and next to it is Pavilion, which takes up most of what is left of this block. Further down from Zenith is Loft 268, which is on the corner of Carranza and Ignacio Vallarta.

Zenith offers 44 units with one and two bedroom units. There’s underground parking available and other amenities include heated infinity rooftop pool, fitness center and storage lockers. Prices start at US$250,000.

Urban also offers one and two bedroom units with amenities such as a sun lounge and infinity rooftop pool, open terrace with dining area and an outdoor kitchen for common use. Prices start around US$250,000.

Pavilion has 62 units that are studios, one and two bedroom. Amenities include a rooftop lap pool and lounge area, two heated Jacuzzis and fitness room. Prices start at US$198,000.

Loft 268 offers one and two bedroom units and amenities such as a rooftop area with infinity pool, Jacuzzi, gym, bar and BBQ area. Prices start at just under US$300,000.

2017 was a Great year for Vallarta Real Estate

It isn’t too difficult to determine that Puerto Vallarta and Riviera Nayarit are once again experiencing very active real estate markets, with the amount of construction taking place, (especially in downtown Vallarta) and by the size of the real estate publications. It isn’t back to 2007, but it certainly seems to be heading in that direction.

Statistics from the regional real estate association, AMPI, back this up, showing that real estate sales in 2017 were up 36% over the previous year (reported by Harriet Cochran in the PV Mirror). The association had $1.6 billion in inventory on average in 2017 and managed to sell $262 million of it, or 16%. That makes for a relatively strong market, which is reflected in the difference between the list and sales price, which was only 7%. And because of this, the average sales price of properties is appreciating, with a 4% increase manifested for last year.

The average sales price for a condo was $277,000, which is still below the average price back in 2007, before the downturn, meaning the market certainly still has room to grow and for prices to continue to appreciate.

Trends in Puerto Vallarta’s favor are that it is just 3-4 hours away from home for many Americans, there is a very strong and active expat community, and it is relatively safe, at least compared to some other areas of Mexico (and some American cities!). The weather is exceptional, and we are certainly having an amazing season this year with 30º C. average temperatures and clear blue skies. That must really mean something to the many Americans and Canadians who have seen one of the coldest winters on record. And there is of course the numerous activities one can do, such as golf, fishing, surfing and sailing, that are doable all year round. And then there’s the restaurants, the theaters, the markets…the list goes on and on.

International Living Retirement Index

Each year the staff at International Living compile an index that lists what they consider to be the most popular retirement destinations in the world. To create the list they take into consideration climate, cost of living, retiree discounts, infrastructure, accessibility of healthcare, amongst other things. Mexico came out in third position for 2016, just behind Panama and Ecuador.

They write, “Whether your dream retreat is a graceful colonial home with lavish gardens, a simple beachfront bungalow where you can prop up your feet on the rail and watch the tide roll in, an expansive hacienda with enough acreage for horses to roam, or a cliff side villa with sunset views and cool, steady breezes, you are likely to find it in Mexico.”

For Americans and Canadians, Mexico perhaps tops the other two because of its close proximity their home countries; both Panama and Ecuador are quite a ways away from home for most North Americans. Living in Mexico can meet getting back home can be just a few hours away, definitely a big plus.

The site contains a lot of very useful information for those considering retirement and are not sure where they’d like to spend their retirement days.

Vallarta Real Estate Development Sales Surge

There is a cycle in real estate which follows the ups and downs of the economy. When the economy is doing well new development properties are in vogue and re-sales tend to lag. There’s plenty of money in the market and people have cash to spend. And when it comes to real estate, what they often want is something new with the latest features and amenities. Its a little like what takes place in the car industry; with new models released each year to tempt current car owners to upgrade. The housing market, in an upswing, is no different, be it in Canada or the USA, or here in Puerto Vallarta. But when the market slows down after a market crash or adjustment, such as what happened followed in 2008 and 2001, the cycle tops out, begins its descent, and development properties sales suffer while re-sales regain market share.

Puerto Vallarta is currently in the middle of an upswing in this cycle, with new developments popping up all around the bay and in hot demand.

During these good times developers try to outdo the competition by offering more “bells & whistles,” something more special and unique. Units become larger, terraces wider and deeper, kitchens have every kind of appliance, bathtubs are Jacuzzis, and common areas features spas, gyms, massage rooms, two-car covered parking, concierge service and on and on it goes. Having been through a few of these cycles I’ve developed a bit of a sense as to when it may be peaking, and that’s usually when amenities go from being practical and useful to ostentatious and over-the-top. Right now? We are still a ways from reaching that over-the-top level.

When the market eventually crashes or corrects, however, (which it always does), these over-the-top properties are somewhat harder to sell as all those extras have a cost, and in a down market people don’t have money for them, nor want to part so easily with they have. Many developers get stuck with units they can no longer sell for top dollar and now realize the wonderful amenities they added to help them sell their product are now working against them. As the market tightens people want smaller units, less extras (as they add to the overall cost) and less amenities (as they drive up the maintenance fees).

People who had purchased previously at lower prices can sell at these prices whereas it becomes much more difficult for developers to continue building as they can’t build something that would compete with the price of resale properties. They either have to lower their prices substantially or hold on and wait, (for those that can afford to wait). Real estate offices that concentrated exclusively on marketing developer new product now find they have no to little inventory and scramble to try and get what listings they can in the resale market. Vallarta certainly saw this with the type of units developers started offering in about 2012. In order to compete with the pricing of the re-sale market they built smaller units with less amenities.

So an economic bull market delivers a booming developer market whereas a bear market drives the re-sale market. What’s interesting right now is that both markets are hot, local realtors inform us. Developers are selling, in some cases up to 50% sold out before breaking ground. But re-sales are also in high demand, enough that there is a lack of good quality listings. Agents are in that good, but uncomfortable position where they have quality prospects but don’t have the quality listings to show them.

The hot region in 2017 was Central Vallarta, and more specifically in Emiliano Zapata where the must-have amenity this time round involves rooftop common areas that feature a swimming pool (and especially trendy if there’s a sitting area in the middle of it), a bar, lounge areas and perhaps a spa and/or gymnasium. As most of these new projects are not on the beach, this is the one place where all owners can be assured they have access to an ocean view.

Over the next couple of weeks MLSVallarta plans to feature a popular region of the tourism real estate market that has experiencing strong development growth. We’ll begin with the current most active region, Emiliano Zapata, in the second part of this series about new developments in the Vallarta and Riviera Nayarit region.

Common Real Estate Designations and Certifications

National Association of Realtors (NAR) / REALTORS®

The National Association of REALTORS® is America’s largest trade association, representing 1 million members, including NAR’s institutes, societies and councils, involved in all aspects of the residential and commercial real estate industries. Their membership is composed of residential and commercial REALTORS®, who are brokers, salespeople, property managers, appraisers, counselors and others engaged in all aspects of the real estate industry. Members belong to one or more of some 1,400 local associations/boards and 54 state and territory associations of REALTORS®, or to one of 81 cooperating associations in nearly 60 countries. They are pledged to a strict Code of Ethics and Standards of Practice.
The National Association of REALTORS® and its affiliated Institutes, Societies, and Councils provide a wide-range of programs and services that help members increase their skills, proficiency, and knowledge. Designations and certifications acknowledging experience and expertise in various real estate sectors are awarded by NAR and each affiliated group upon completion of required courses.

Below are some of the most commonly found designations found by REALTORS® members in Mexico:

Certified Residential Specialist / CRS

The CRS designation is the highest credential awarded by REALTORS® to residential sales agents, managers, and brokers. On average, CRS designees earn nearly three times more in income, transactions, and gross sales than non-designees.

Certified Commercial Investment Member / CCIM

The Certified Commercial Investment Member (CCIM) designation, offered by the CCIM Institute, is commercial real estate’s global standard for professional achievement, earned through an extensive curriculum of 200 classroom hours and professional experiential requirements. CCIMs are active in 1,000 U.S. markets and 31 other countries and comprise a 13,000-member network that includes brokers, leasing professionals, asset managers, appraisers, corporate real estate executives, investors, lenders, and other allied professionals.

Certified International Property Specialist / CIPS

This designation, offered by the National Association of REALTORS®, involves five full days of study focusing on the critical aspects of international real estate transactions, and an influential network of 2,000 professionals who turn to each other first when looking for referral partners.

International Real Estate Federation / FIABCI

FIABCI is a non-political entity whose objective is to help its members add an international dimension to their businesses. It helps members acquire knowledge, develop networks and optimize business opportunities all over the world. Currently there are members from 60 countries and more than 100 nations real estate associations. FIABCI is also recognized as a special consultant with NGO status to the Economic and Social Council of the United Nations Organization.

Should I work with a Realtor?

When you’re ready to think about buying or selling your Vallarta property, you need to ask yourself the following questions: Do you have the time, energy, sources of information, and contacts to buy or sell a property in Mexico? If you were one of the “do-it-yourself” people, would the results be as good or better than they would be if you had professional assistance? Would it have gone smoother? Would it have given you more personal time? Would you have purchased for less, or sold for more, if a real estate agent was involved?

The acronym FSBO stands for “For Sale By Owner”, and is commonly used in the USA and Canada to denote a person or family who have decided to sell their home on their own, rather than use the services of a real estate agent. It may work well north of the border, and there are a number of services available today to assist one with the process. But in Mexico, it is another matter and anyone considering taking the selling process into their own hands should consider the following:

Please Consider:

Are you available at all times to show the property?

Most Canadian/American homeowners in Puerto Vallarta are here only part of the year, so it can become difficult at times to show the property when out of the country.

Do you speak Spanish?

Not all prospective buyers may speak English, so if you don’t speak Spanish, you’ll be at a disadvantage. It is also important when it comes to closing the sale, for in order for contracts to be legal they need to be in Spanish and you are going to want to ensure you understand every clause in the agreement. The same goes with working with a Notary, who will have to be involved in the sale, and perhaps a real estate lawyer.

Do you understand Mexican real estate law?

Just because you may have sold a property back home doesn’t mean you understand how real estate law works in Mexico. If you don’t, you’ll want to have someone represent you, such as a lawyer, to ensure that what you are selling is properly defined in the agreement.

Do you understand how the sale may affect you fiscally?

Capital gain laws seem to be changed or adjusted every year, and if you don’t know how to best set yourself up fiscally for this, you could end up paying a large capital gains tax.

How will you market your property?

Most real estate in Puerto Vallarta is marketed and sold using a MLS service, and this service is only available to real estate agents and agencies. The MLS, or “Multiple Listing Service”, distributes the information of all properties to member agents through an online portal. As well, it is available for the public to use and see. But only real estate agents can publish properties in the MLS systems most used in the region; Flex and MLSVallarta. There are other outlets available for marketing your property, but not as good and they have a cost, which you have to pay for upfront. Whereas if you are using a real estate agent you only pay for marketing when you have sold the property, at a price that you are willing to accept, less also the commission. The same goes for advertising online or in print publications; you have to bear these marketing costs.

So if you didn’t answer yes to the questions above you may want to talk with a realtor. Read the following information and learn how a real estate agent can help you understand everything you need to know about a real estate transaction.

The Buying Process

The process of buying a home or investment generally starts with determining your buying power; that is, your financial reserves plus your borrowing capacity. If you give a real estate agent some basic information about your available savings, income and current debt, they can refer you to lenders best qualified to help you.

Finding

Once you know how much you can and want to invest, the next step is to find the properties that most nearly fit your needs. This is the time to choose a real estate agent that agrees to abide by a strict Code of Ethics. Our members have many resources to assist you in that search. Sometimes the property you are seeking is available but not actively advertised in the market, and it will take some investigation by your agent to find all available properties.

Selecting

Your job is to make the final selection of the right property for you. This is when excitement and emotion run high. Your real estate agent can assist you in the selection process by providing objective information about each property. Agents who are members have access to a variety of informational resources. Members can provide local community information on utilities, zoning, schools, etc. There are two things you’ll want to know. First, will the property provide the environment I want for a home or investment? Second, will the property have resale value when I am ready to sell?

Negotiating

There are a myriad of negotiating factors, including, but not limited to price, financing, terms, date of possession, and often the inclusion or exclusion of repairs and furnishings or equipment. The purchase agreement should also provide a period of time for you to complete appropriate inspections and investigations of the property before you are bound to complete the purchase. Your agent can advise you as to which investigations and inspections are recommended or required.

Financing

As soon as you are reasonably sure the property is right for you, the process of obtaining financing, if necessary, begins. Your agent can help you in understanding different financing options and in identifying qualified lenders. This is something relatively new in Mexico, but financing is available.

Closing or Settlement

Finally, there is the closing, or settlement, as it is known in different parts of the world. Every area has its own unique customs. Your agent can be the best source of information regarding a swift and secure transaction. Again, your real estate agent can guide you through this process and make sure everything flows together smoothly. This can actually be the most important part of the whole process, and ensuring that your title is transferred properly.

It also involves establishing a trust account (or Fidiecomiso, as it is known in Mexico) with a Mexican bank, which foreigners need to use in order to own real estate along the coast of Mexico. The trust system has been used for over 25 years in Mexico, offering a manner in which foreigners can actually obtain property in the country. Your broker can help explain this in more detail.

Property Management and Maintenance

If you purchased a property for investment purposes, your agent can be instrumental in the realization of your financial goals through a continued representation of your interests. All member agencies have ‘in-house’ property rental programs featuring marketing, tenant screening, collections, automated payment services, maintenance programs, etc, that can be tailored to your specific needs.

Selling Your Real Estate

Pricing

This process generally begins with a determination of a reasonable asking price. Your real estate agent can give you up-to-date information on what is happening in the marketplace and the price, financing, terms, and condition of competing properties. These are key factors in getting your property sold at the best price, quickly and with minimum hassle.

Marketing

The next step is a marketing plan. Often, your agent can recommend repairs or cosmetic work that will significantly enhance the salability of the property. Marketing includes the exposure of your property to other real estate agents and the public. In many markets across the country, a large percentage of real estate sales are cooperative sales; that is, a real estate agent other than yours brings in the buyer.

Your agent acts as the marketing coordinator, disbursing information about your property to other real estate agents through Multi-List associations or other cooperative marketing networks, open houses for agents, etc. The Multi-List Code of Ethics requires Members to utilize these cooperative relationships when they benefit their clients.

There is a misconception that advertising sells real estate. Studies show that 82% of real estate sales are the result of agent contacts through previous clients, referrals, friends and family, and personal contacts.

New MLSVallarta Members Announced

MLSVallarta has announced that four new local real estate agencies that have recently joined its MLS service for Puerto Vallarta and Riviera Nayarit. The new members are Usvemex, headed up by Macdai Dueñas, Realty World Paradise, represented by Jorge Sama, G&G Realty represented by Guillermo Cuevas and MexHome, located in Sayulita and headed up by Mark Vavra and Aaron Fisher. For more information about these real estate agencies, please contact them directly.