Sales have slowed a bit on the Baja, but Mexican banks are not experiencing problems like that of their US counterparts.  Subprime loans were never issued by local banks in Mexico so the American banking crisis has barely hit our radars.  In fact in the first quarter of 2008, Banamex - one of Mexico’s top performing banks, helped out American based Citigroup (it’s parent company) with a $453 million loan.  Although Mexico’s economy is more closely tied to the US than any other country, banking reforms and several other measures in the past years have provided somewhat of an economic shield.  Of the top five banks in Mexico, two are Spanish-owned, one is American, one British and just one Mexican. 

Macro-economic stability in conjunction with and increase in lending and credit to the private sector as well as high consumer banking fees all lend to building such a shield.  Shrewd regulators and growing market sophistication also top the list of strength factors.  Reforms to bank secrecy laws allowing for the creation of a solid credit reporting system and reforms to bankruptcy laws have also provided for a solid foundation for a mortgage backed securities industry. 

According to Mexico’s Deputy Finance Minister, the accumulated increase in Mexican house prices has consistently been less than inflation so there is no bubble - yet.  while growth in Mexico’s economy is slow - a healthy banking industry is a good sign that we’ll weather the storm brewing up North.

For more information about Loreto or Loreto real estate opportunities, please contact Alfredo Cristo.

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A commercial mall is soon to be built in the vicinity of the new La Paz Walmart project.  Local entrepreneurs John Pentz and the Coppel Family will front an investment of $125 million to put up three million square feet of retail space.  They are hopeful retailers such as MM Cinemas, Soriana, Coppel, Home Depot, and Costco will come on board.  There are also plans for a gas station, two hotels and a mall food court.

Construction is slated to begin in January and finish within a year.  Soon everything you could ever need will be right around the corner in La Paz!

For more information about La Paz or La Paz real estate opportunities, please contact Alfredo Cristo.

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The new JW Marriott Residences in Loreto Mexico will be located along the stunning Sea of Cortez.  Encompassing 800 feet of private beachfront, the Loreto JW will offer 201 whole ownership condos.  The first phase is slated for completion in 2010 and developers will be pursuing LEED certification (green building certification).  Loreto real estate options will include two, three and four bedroom condominiums and rooftop penthouses.  Prices are expected to range from the mid $700,000s to $3 million plus. 

In 2007 the JW Marriott brand was rated number two in the luxury hotel category second only to the Ritz Carlton.  The Loreto JW launch marks the first residential project in Mexico for the JW Marriott.  The property will be spectacular featuring amenities such as: a movie theater, beach club, free form pools, spa grotto, pristine beaches, infinity pools, pool bars, lazy river, aquatic center, arcade, fitness center, adventure center and more. 

Loreto’s unique culture, location and history makes for an ideal vacation home destination. 

For more information about Loreto or Loreto real estate opportunities, please contact Alfredo Cristo.

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Alaska Airlines recently announced the addition of non-stop flight to Loreto, Mexico from Los Angeles.  Beginning November 9th the new service will double the number of seats flown to Loreto on a weekly basis.  Two 144-seat flights run on Sundays and Thursdays and two 70-seat flights go on Tuesdays and Fridays (via Horizon Air).  Loreto is becoming an increasingly popular destination for ecotourism and has been recognized for its commitment to sustainability.  The Loreto visitor’s bureau is excited to partner with Alaska Airlines to add the new service. 

Loreto offers first time and returning visitors natural Sea of Cortez wonders, ecologically responsible tourism opportunities, and the historic charm of the old city.  Loreto is a World Heritage Site and home to the first California mission with a 300 year old history.  Guests will enjoy: kayaking, whale watching, turtle watching, scuba diving, snorkeling, fishing, hiking, cave exploration, and just general fun in the sun. 

For more information about Loreto or Loreto real estate opportunities, please contact Alfredo Cristo.

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The Inn at Loreto Bay located in Baja Sur Mexico recently received bronze status from the prestigious Green Globe Program.  Green Globe recognizes commitment to environmental excellence.  To achieve bronze status the Inn at Loreto Bay has implemented an integrated environmental and social policy committing them to energy and water consumption standards, waste production limits and community involvement.  The Inn received high marks in the following areas during certification:

• energy consumption
• water saving
• waste diversion from landfill
• waste recycling
• community contributions
• paper products
• cleaning products
• pesticides

All work toward bettering the environment and ensuring a sustainable future at this development.  The resort also offers other ‘green’ initiatives for guests such as fluorescent lighting, recycling compactors, zero scape, electric shuttles, and organic menu items.  Guests can also volunteer for local programs such as Animalandia or edible classroom programs at local schools.

The community of Loreto Bay is an 8,000 acre seaside community that is home to the Inn, fitness center, three restaurants, spa, pool bar and golf services.  There will also be approximately 6,000 Baja-style homes available and 1,500 acres of a nature preserve.  Owners and guests will enjoy activities such as kayaking, fishing, snorkeling, golf, scuba diving and more.

Please contact Alfredo for more information about how you can obtain your dream Mexican Baja getaway on the East Cape.

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Dias de Los Muertos or “The Day of the Dead” has been a special celebration in Mexico for five centuries.  Between October 29th and November 2nd Mexican lifestyle takes on a whole new meaning.  People celebrate in abundance preparing candies, spices, foods, drinks and flowers to honor those departed loved ones. 

Favorites “often include black molé with chicken or turkey, and duck when it’s available. Pan de Muerto (Bread of the Dead), flavored with anise or ground cinnamon, is a staple and the recipe varies from village to village. Once baked, the final loaf takes the shape of a skull decorated with icing or shapes of favorite items of the departed. Drinks are not overlooked - tequila, refrescos of all kinds, and traditional atole, an ancient drink made from corn meal and water, flavored with various fruits. Garnishes include red corn, pumpkin and scattered campastuchil petals leading from the door to the family altar.”

Indigenous Mexicans believed that souls do not die but are merely in a place of somber rest (Mictlan - the place of Death) after their human life.  The Day of the Dead is a time when these ancient souls in waiting are free to re-visit their loved ones.  While they cannot be seen, their spirit presence is felt and thus families offer food, drinks, music and celebration to greet them.

It is also common for relatives to offer lit candles to help spirits make their journeys from the place of the dead back home.  Fragrant flowers are also dispersed into the night air to entice the spirits back to the land of the living.  While the Dias de Los Muertos comes during the same time as Halloween it has different meaning for Mexicans - it is not a scary or somber event, but a happy one.  A time to be reunited with those you love and celebrate ancient rituals.

children also hold a special place during this time, “One of the most touching aspects of the celebration is to see sleepy-eyed children arrive on November 1st for the Vigil of the Angelitos or Little Angeles.” Since early childhood they have been prepared for this occasion, one that teaches them love and respect for the departed as well as awareness of their cultural roots. Little girls dressed in their finest colored skirts and shinny shoes begin a three-hour vigil under the supervision of their mothers. Fathers and brothers typically watch from a distance as the girls carry flowers and lighted candles to the cemetery. Their altars are adorned with toys made of wood or straw, favorite fruits, and photographs of their heroes. The food is less spicy than that prepared for the adults. “In our land, when a child dies, parents should willingly give up the soul to heaven with a good attitude because he or she is considered a little angel. This is the reason people light fireworks and don’t cry, allowing the child to enter paradise and elude the departed souls from coming back (home) to collect tears.”"

The arrival of the departed adults is then celebrated the next day beginning with the ringing of a bell to awaken the sleeping souls and let them know the feast is about to begin.  Offerings are brought to the cemetery where fires provide warmth and ambiance and warm drinks pass good cheer.  Families spend the night paying homage to those loved ones departed reminiscing about times of old.

This ancient Aztec celebration is one that is dear to our hearts, so please join us in celebrating and honoring those we have loved this Dias de Los Muertos.

Excerpts from a story by Thomas Whittingslow
Photos by Phillippe Diederich & Ann Murdy

Grand Baja Condos
Starting at $329,000 USD
2 beds/ 2.5 baths - 1,800 sq ft

The Grand Baja Hotel & Beach Resort is a renovated cultural icon in La Paz, Mexico. Once one of the finest and most exclusive places to vacation, go out for dinner or just have an enjoyable time; today it is still standing on its strong foundation. When the new face is finally takes shape, the Grand Baja will once again shine.

Amenities Include:

• Swimming pool
• Cafeteria
• Gym
• Spa
• Lobby
• Bar
• Tennis courts

Prices are not guaranteed and are subject to change.

Please contact Alfredo for more information about how you can obtain your dream Mexican Baja getaway on the East Cape.

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Haciendas Palo Verde
La Paz Mexico Ocean View Gated Community
Home sites starting at $54,900 - 1/3 acre

Looking for a place to put your dream casa? Haciendas Palo Verde is the ideal neighborhood for your new home in La Paz. Located on the hillside of El Centenario, Haciendas Palo Verde lots provide sweeping vistas of the bay and ample room to construct near other internationals. With a secure road, underground utilities, and an approved environmental preservation plan, each Haciendas Palo Verde lot is ready for your dream dwelling.

Lots feature:

• Potable Water
• Underground Electricity
• Chartered Homeowner’s Association and Registered CC&Rs
• Approved Environmental Preservation Plan

Prices are not guaranteed and are subject to change.

Please contact Alfredo for more information about how you can obtain your dream Mexican Baja getaway on the East Cape.

Search for available properties in La Paz, Los Barriles, Loreto, Mulege, Baja Sur - Mexico

La Paz Sky Park
Home sites starting at $95,000 USD

Features:

• 4,200 ft Paved Landing Strip
• Airport Identification is ‘ALK’
• Hangar Space
• Tie Downs
• Nine Hole Golf Course
• Beach Club
• Boat Launch Ramp
• Equestrian Center
• Holistic Health Center
• 40 Room Hotel
• 50 Site RV Park
• Full Utilities to Homesites

The La Paz Sky Park is located just 20 minutes from La Paz International Airport. Taxi your airplane directly to your home from the 4,200 ft paved landing strip. 350 / half-acre residential lots are available in Phase One. Golf course homesites starting at $95,000 USD.

Prices are not guaranteed and are subject to change.

Please contact Alfredo for more information about how you can obtain your dream Mexican Baja getaway on the East Cape.

Search for available properties in La Paz, Los Barriles, Loreto, Mulege, Baja Sur - Mexico

Condo Colinas del Sol
La Paz Mexico real estate
$395,000 USD/ 1,400 sq ft

• Brand new and fully-furnished
• 2 beds/ 2.5 baths
• incredible, unobstructed ocean views
• gated community
• 24 hour security
• swimming pool
• jacuzzi,exercise
• All appliances included

Prices are not guaranteed and are subject to change.

Please contact Alfredo for more information about how you can obtain your dream Mexican Baja getaway on the East Cape.

Search for available properties in La Paz, Los Barriles, Loreto, Mulege, Baja Sur - Mexico