RISKS IN BUYING MEXICO PROPERTY BRING INCREASED HAWAII DEMAND FOR HOMES & CONDOS

More and more buyers are experiencing problems with Mexico real estate ownership.   The linked article describes:

*     Mexico’s constitution in article 27 forbids foreign ownership of coastal real estate and provides restrictions for all foreign ownership elsewhere in Mexico.

*     The Baja California Supreme Court found in favor of a group of Mexican private landholders, American citizens may be faced with having to “repurchase” the land upon which their homes are built.  Local newspaper reports have indicated that Yucatan Governor-Elect Victor Cervera Pacheco and Sinaloa Governor Renato Vega Amador may face charges of falsifying official documents (when they were Secretary and Under Secretary, respectively, of the Secretariat of Agrarian reform), the act which reportedly allowed the illegal transactions to take place.

*     Americans Evicted In Mexico from homes on disputed land in Baja California, Ensenada, Mexico — Mexican federal authorities moved forcefully to begin evicting U.S. retirees from homes built on beach property that is at the center of a long-running land battle.  Backed up by more than 400 police officers, officials of a federal land agency went door to door to carry out an eviction order handed down last week by Mexico’s Supreme Court to settle the ownership dispute.  Residents in some cases were given no more than a few minutes to abandon homes on a scenic finger of land about 18 miles south of the port city of Ensenada.

*     a link to the full article downloaded from US Embassy website Mexico City is here:  RISKS IN BUYING MEXICO REAL ESTATE FOR U.S. & CANADIAN CITIZENS — DO YOU HAVE CLEAR TITLE?

 

 

 

 

Peter Gelsey Realtor
Wailea Makena Real Estate, Inc.
Maui, HI
www.petergelsey.com
direct (808) 344-8000
email peter@petergelsey.com

 

 

 

 

 

The Makalii at Wailea project across from the Wailea Fairmont Hotel is expected to be completed in 2020 and will feature 68 luxury townhouse condos of 2 and 3 bedrooms each.    Hawaii based Armstrong Builders and Canadian developers Burrard Development state that Makali’i will offer a Resident’s Club featuring an infinity pool and modern exercise room and spa.  Condo prices range from $1.4 million to $2.8 million.   Honolulu based architecture firm G70, formerly known as Group 70, designed the project with a mid-century modern concept featuring 17 buildings with two and three bedroom floor plans, each with their own garage space.   Contact us to lock in your reservation!

Peter Gelsey Realtor
Maui, HI
www.petergelsey.com
direct (808) 344-8000
email peter@petergelsey.com

 

 

The Ritz-Carlton on Maui has sold for almost $1 million a room — one of the state’s highest hotel sales on a per-room basis ever. A joint venture among funds managed by the Real Estate Group of Ares Management, L.P. (NYSE:ARES), SMW Hospitality LLC (a joint venture between affiliates of Square Mile Capital Management LLC and Wafra Inc.), and Trinity Real Estate Investments LLC, today announced the sale of The Ritz-Carlton, Kapalua in Maui, Hawaii, to Blackstone Real Estate Partners, an affiliate of Blackstone Group (NYSE:BX). The 297-key hotel, which includes 107 condos located within a dedicated wing known as the Residences, is part of the 23,000-acre master planned Kapalua resort on Maui, home to the celebrated Kapalua Wine and Food Festival and the PGA Tour’s Tournament of Champions event. The resort is renowned for its world-class golf courses, an award-winning tennis facility, golden sand beaches and myriad restaurants and shops.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Peter Gelsey Realtor
Wailea Makena Real Estate, Inc.
Maui, HI
direct (808) 344-8000
www.petergelsey.com
email peter@petergelsey.com

 

Peter Gelsey works with the Maui Humane Society in the Animal Aloha Program which provides funding for deserving homeless animals that seek adoption on Maui. Ask Peter for more details! Many wonderful pets are available at MHS, located on Mokulele Highway between Kihei and Kahului.

For every Maui transaction (buying or selling condos, homes, or lots on Maui) we will contribute $1,000.00 on your behalf to the Maui Humane Society for the care and protection of dogs, cats, puppies and kittens on Maui, as long as you request it prior to closing and we are representing you in the real estate transaction.

You can designate this charitable contribution for any one or more of the following priorities:

* Creation of additional bark parks on Maui, Wailea, Kihei, Makena, or specify your community.

* Feeding of homeless dogs, cats, kittens, and puppies resident at MHS Maui Humane Society.

* Island wide spay/neuter programs to encourage all pet owners regardless of economic means to do the right thing and spay or neuter their companion animals.

* Care and oversight of feral cat colonies for the mutual benefit of the cats & the residents of the communities they occupy around Maui. This is one of our best mouse control programs!

* Animal welfare efforts to educate and assist island residents in providing the most nurturing and companionable living environments for all pets on the island.

All programs are coordinated through and at the discretion of Maui Humane Society (MHS) and will be funded by your real estate contribution through Peter Gelsey real estate services. Call Peter at (808) 344-8000 to get the ball rolling or email peter@petergelsey.com .

 

Peter Gelsey RB PB
Peter Gelsey Realtor
www.petergelsey.com
direct (808) 344-8000
email peter@petergelsey.com