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Americans Go Ga-ga For Baja [California] (Bargain Oceanfront Mexican Properties Alert)
Chicago Tribune ^ | 10/15/06 | Michael Martinez

Posted on 10/15/2006 4:55:15 PM PDT by goldstategop

LA MISION, Mexico -- Every weekend, Carmen Tetelboin joins the Baja boom.

After work on Fridays, the Los Angeles resident drives four hours across the border to Baja California, where life is so good and living so cheap, it beats the other California, she contends.

Owning a condo on the coast, she and her husband are part of an American colony exploding during the past five years along 75 miles of pristine beaches, cliffs and towns south of Tijuana. What's drawing them are oceanfront homes at a fraction of the multimillion-dollar prices on the U.S. side.

A native of Chile who is bilingual and a U.S. citizen, Tetelboin jokingly calls this swath of Americans "gringolandia."

(Excerpt) Read more at chicagotribune.com ...


TOPICS: Business/Economy; Culture/Society; Extended News; Mexico; News/Current Events
KEYWORDS: bajacalifornia; chicagotribune; gringolandia; ladolcevita; mexico; mexicorealestate; oceanfrontproperties; yanksinmexico
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To: goldstategop

Baja traffic...

41 posted on 10/15/2006 8:38:51 PM PDT by endthematrix (“Anyone who describes Islam as a religion as intolerant encourages violence.”)
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To: Bringbackthedraft
I guess turn about is fair play?>>>>>>>>>

Yup! We get 20 per cent of the Mexican population and we get bargain condos on 75 miles of gringolandia?

Turn about would mean say, the annexation of Baja and the northern tier of Mexican provinces. Then I would agree that there is a balanced turn about.

42 posted on 10/15/2006 8:55:07 PM PDT by Candor7 (Into Liberal flatulance goes the best hope of the West, and who wants to be a smart feller?)
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To: goldstategop

Only a fool would invest in Mexico.


43 posted on 10/15/2006 9:10:28 PM PDT by MistrX
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To: concentric circles
As usual, all the bad things here are said about Punta Banda without saying all the STUPID things that the expats did there to get themselves into the soup. See here and here for other perspectives on the mess besides the 'poor old seniors' article.
44 posted on 10/15/2006 10:59:35 PM PDT by LibertarianInExile (Mark Foley is what happens when personal character isn't relevant to voters or party leaders.)
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To: lesser_satan
Sound like a good deal, until a commie gets elected and natioanlizes everything.

Ding! That's the correct answer. Of course, let's not forget the MS-13 lawlessness.

45 posted on 10/15/2006 11:11:49 PM PDT by stillonaroll
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To: bannie
Yes, that's correct. But foreigners can rent or lease land in Mexico. Its considered foreign investment.

"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." -Manuel II Paleologus

46 posted on 10/15/2006 11:15:45 PM PDT by goldstategop (In Memory Of A Dearly Beloved Friend Who Lives On In My Heart Forever)
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To: goldstategop

Watch out for the bubble :)


47 posted on 10/16/2006 2:25:31 AM PDT by sully777 (You have flies in your eyes--Catch-22)
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To: goldstategop
"We complain about Mexicans illegally crossing the border for a $6-an-hour job ... in an attempt to take back the country, when in fact we're buying Mexico one lot at a time," said Patrick Osio, 68, of Chula Vista, Calif., a former consultant who leads conferences on Baja real estate.

He's joking, right. Comparing illegally entering our country to legally buying homes in theirs is ridiculous.

48 posted on 10/16/2006 2:37:09 AM PDT by TankerKC (Step Back! Doors Closing.)
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To: daviddennis
Either get your beachfront in another country, or dream about it and never afford it.

Not true. I have bought an oceanfront lot and an oceanfront condo in NC. Very affordable.
49 posted on 10/16/2006 2:49:52 AM PDT by Kozak (Anti Shahada: " There is no God named Allah, and Muhammed is his False Prophet")
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To: SoCalPol
Plenty of beautiful beaches here in San Diego - corrupt and left wing.

There, that looks right now...

50 posted on 10/16/2006 3:39:47 AM PDT by xcamel (Press to Test, Release to Detonate)
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To: TankerKC; goldstategop

Mexico's immigration laws are still comparatively very racist against us gringos:

http://www.directory.com.mx/immigration

In contrast, the USA's immigration laws are very accomodating.


51 posted on 10/16/2006 7:37:16 AM PDT by Shuttle Shucker
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To: goldstategop

My Mom and Dad used to head down to San Felipe every winter from Vegas in the RV.

The placed where they parked made them 'buy' a lot on some rocky hillside. Though actually it was a 20 year lease. I got the impression the Mexicalis don't like yankees buying up their land.


52 posted on 10/16/2006 7:50:57 AM PDT by TC Rider (The United States Constitution © 1791. All Rights Reserved.)
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To: xcamel

My cousin and her husband sell those properties as brokers; business is booming.


53 posted on 10/16/2006 7:55:23 AM PDT by Old Professer (The critic writes with rapier pen, dips it twice, and writes again.)
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To: goldstategop

I believe the Mexican Constitution forbids land ownership by non-born citizens. Please let me know.


54 posted on 10/16/2006 8:02:57 AM PDT by DownInFlames
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To: bpjam
I have clients who occasionally mention Costa Rica, Mexico and other dictator run countries for investments.

errr, neither Mexico, nor specifically Costa Rica, is run by dictators... as far as property goes, Costa Rica is far superior to Mexico as there isn't this 50 year lease b***s***

55 posted on 10/16/2006 8:10:37 AM PDT by chilepepper (The map is not the territory -- Alfred Korzybski)
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To: goldstategop
The US could buy Baja (making it a US territory). A reasonable plan would be to allow Baja to become a state after a few decades of self government. The local economy would skyrocket and siphon off illegals from the States (assuming appropriate immigration policies).
56 posted on 10/16/2006 8:16:04 AM PDT by Ragnar54
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To: Old Professer

Her name isn't Susan, is it?


57 posted on 10/16/2006 8:52:24 AM PDT by xcamel (Press to Test, Release to Detonate)
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To: xcamel

No.


58 posted on 10/16/2006 9:57:49 AM PDT by Old Professer (The critic writes with rapier pen, dips it twice, and writes again.)
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To: DownInFlames

Your answer is at:

http://www.directory.com.mx/immigration


59 posted on 10/16/2006 10:07:19 AM PDT by Shuttle Shucker
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To: chilepepper
Not technically, no. But Mexican presidents are dictators much in the same way that Gray Davis in California was a dictator. He had one party control and absolutely no morally compelling reason to respect the voters or the rights of those who didn't not contribute to his campaign. When the new ownership terms can up in Mexico, it was an 'elected' president who did it. And why not? Make up some tax revenue from some gringos to cover the corruption in Mexico City and stick it to those Americans who keep refusing to accept Mexicos poor and criminal unwanteds. If you go back 50 years, there have been lots and lots of changes. New changes could happen at any time and you could end up holding property which is too expensive to keep and to costly to sell.

I agree with you that Costa Rica is far superior. But what kind of control do you have over the factors governing the market there? I am certainly not an expert on Costa Rican politics and I don't have the connections there to be able to quickly establish a proxy owner there to avoid some new tax scheme there to take the money of the rich tax avoiders in North America.

If you spend adequate time to research these things, you can mitigate your risks. And then at least you will be aware of many of your risks. But the flight of capital down there is a repeating pattern which has occurred in other third world countries which have often left the second round of investors holding the bag while the first round got in early and out while the bloom was still on the rose (think Nasdaq winners like globe.com, globalcrossing, pets.com, etc.).

If you are buying in these places because you can't find better real estate investment opportunities in the U.S.(where you can infinitely more predictability), please, please, please let me know. I'd much rather see people keeping their money here and getting more solid returns AND being able to take advantage of the US tax laws which allow you to pay no taxes on your real estate investments.

60 posted on 10/16/2006 10:27:22 AM PDT by bpjam (Hezbollah, Hamas, Al Qaida - The Religion of Peace)
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