Tsunami Sale?

The term "Fire Sale!" is so overused in this market as to have lost any impact.

So, maybe calling this deeply discounted property a Tsunami Sale will get a bit more notice.

 

In any case, Lambert Penthouse, in Green Bay II in El Tigre golf course, in Paradise Village, has dropped the price from $199,900 to $179,900. This is a startlingly low price, no matter what you choose to call it.

It's 2 bedrooms (one main level bedroom, with en suite full bath; plus a very spacious loft bedroom, also with its own large en suite full bath). There are even storage shelves in the loft bath; that's how spacious it is.

 Plus, off the living area there is a half bath for guests.

So, 2 bedrooms, 2 and a half baths. Plus exceptionally fine custom carpentry throughout the penthouse. All the doors and closets, shelves and cabinets, are amapa wood, all done by one of the bets carpenters in this part of Mexico, a German-Mexican fellow with a shop in San Pancho.

 

This penthouse has never been occupied. It was purchased in pre-construction in 2006, but soon after an illness struck, and the owner has never been able to furnish or use the penthouse at all.
The owner is now adamant about selling it, so bring offers.



 
 Video Tour in HD:

Call Robert:  office is 01 329 298 3314 or cell is 322 135 59 79.

From the USA or Canada, call Robert toll free at  1 866 210 1324

The RFC Chaos Resolved?

Robert:

I am informed by one very reliable source that Hacienda SAT late yesterday notified all notaries that the law has been amended effective immediately. Now, with the amendment, foreign sellers need not obtain temp residency, CURP or RFC. For foreign sellers we are back to business as usual, as before the Sept 1 new law.

Importantly, there is very good news for foreign buyers also. Foreign buyers now need not obtain temp residency. They can simply walk into the SAT offices (near Costco) with their tourist card and passport, and SAT will issue them an RFC on the spot. No advance appointment necessary. We will be helping out buyers with this.

I will confirm all this with other sources during the day and advise if any of this is incorrect or changed. But I wanted to share this welcome news and I am increasingly optimistic we are all now "in the clear. "

Potentially Good News For Sellers, re: RFC Requirements.

Good news for our sellers, although not "the final word."

Several local notaries are now taking the view that they can close deals with no RFC or CURP from the sellers, yet still take standard deductions for those sellers against any cap gains.This elevates the risk of a Hacienda audit of the sale, but assuming everything was handled legally, which of course it would be, there would ultimately be nothing lost, except the hassle of dealing with the possible audit, with deductions for things like major improvements scrutinized.

We have another notary that has now also changed from the strict interpretation to a much less cumbersome one, but on a different basis; that is, specifically, that they can generate automatically a generic RFC for sellers, which will technically satisfy SAT Hacienda and allow the notary to close.

However, other attorneys dispute the legality and efficacy of this generic RFC approach outright. They say it makes more sense to just close without an RFC at all for the sellers. 

So it's obvious there is still widespread disagreement among notaries and attorneys, with some still adhering to the original, strict interpretation. (Which, to recap in brief, is that unless both buyer and seller have full RFC and CURP from Hacienda, the new buyer will have zero deductible cost basis when he or she sells someday, and would then at that future date incur a huge, and clearly unfair, cap gain tax.)

Caveat:

Until more time passes and we arrive at a broader consensus, there is a real chance that your buyer might be advised by his attorney or notary that regardless of what the more flexible notaries now say, the buyer should avoid any and all risk of losing his or her cost basis, and therefore should insist, as a condition of his or her offer, on you obtaining the full temporary residency, CURP, and RFC from SAT, etc. just to be on the safe side.

In other words, just because we have some notaries now taking the more lenient position, that doesn't guarantee your buyer will go along with it. 

But, I am guardedly optimistic. My sense is that the consensus will gather momentum; more and more attorneys and notaries will come around to these more flexible positions. The more strict interpretation is just too draconian and damaging to the market.

Robert

Return to Mismaloya

Long ago, and for many years thereafter, Mismaloya beach was my favorite little place to escape to for a day. I found it to be the almost ideal mix of crescent sand and blue water, backed by ruggedly beguiling tropical mountains. Plus with a good selection of beachfront ramshackle restaurants, at reasonable prices, and easy-to-hire boats to take you out to the Islas Los Arcos.

Sunday I took a nostalgic turn and spent the day at Mismaloya, for the first time in many years. I'm happy to say it has lost none of its charm, and still casts a pleasant little spell.

The restaurants on the beach are not so affordable as I recall, but then nothing else in life is either. I've reached that age where all current prices induce sticker shock, compared to the "real" prices of my relative youth.

Mismaloya even has a mountain stream that flows right out over the beach...with fresh water swimming in the stream.

Here is a shot, standing on the beach, looking back upstream.

Germany From The Air In HD. Spectacular Video.

Robert:

This is an extra beautiful HD video. It's worth watching, even for non-Germanophiles. The soundtrack is a bit too melodramatic and overwrought, in my opinion, but that's a minor quibble, as the visuals are the point. One of my favorite parts starts at about 8:55 in; the cows crossing the See...I think that is the Koenigsee, near Berchtesgaden, but can't be certain. Be sure to click the little gear icon below the YouTube screen, and select a hi definition setting, either 720 or 1080, so that you can see this clearly.

Barcelona Go, On Vimeo

Barcelona GO! from Rob Whitworth on Vimeo.

Quantum Humor

Schroedinger's cat walks into a bar. And doesn't.