La Paz, BCS - In this edition of The Settlement Company's Mexico Resort Real Estate Report, John K. Glaab shares information about condominium HOA meetings in Mexico, Medicare in Mexico, the 2018 NAR and AMPI real estate conferences, and paying tax on Mexican rental properties.
Things You Should Know About Condo HOA Meetings in Mexico
Harriet Murray, Cochran Real Estate, Puerto Vallarta
Medicare in Mexico Could Benefit U.S.
Reihan Salam, The Atlantic
Read the full article at theatlantic.com
Two National Real Estate Conferences took place in November 2018, the Mexican Association of Real Estate Professionals (AMPI), and the United States' National Association of Realtors® (NAR).
Annual Conference of The Mexican Association of Real Estate Professionals
Liliana Elena González, Mexatua Realty, Morelia, Michoacán
National Association of Realtors Meeting
The 2018 National Association of Realtors® was held in Boston. Two of the most popular and informative educational sessions were presented by Dr. Lawrence Yun and Leigh Brown. NAR's Chief Economist Lawrence Yun discussed recent developments in the U.S. economy and their impact on the housing market. He reviewed recent trends in 2018, as well as his expectations for the beginning of 2019. Dr. Yun was joined by Lisa Sturtevant, president and founder of Lisa Sturtevant & Associates. She presented, "How to increase the supply of affordable housing in the market." Leigh Brown of Concord, North Carolina presented, "Four Pillars of Real Estate Success." Leigh is a member of Associated Realty of the Americas" (AREA). Earlier in the year, Leigh was the "Mistress of Ceremony" at the AREA Annual Retreat in Newport Rhode Island. Vince Malta, President Elect of NAR hosted a reception for AREA members attending the Conference. The 2019 Realtors Conference and Expo will be held in San Francisco November 9-11.
Taxes on Rental Property in Mexico Program Growing
As owners of Mexican properties become aware of the consequences of not paying taxes on rental properties, The Settlement Company® program is growing. The Mexican Tax department (SAT) Mexican Immigration and banks in the three NAFTA countries are all cooperating in an attempt to decrease tax evasion in this country. A prominent Los Cabos REALTOR® wrote the following in The Gringo Gazette, a local English language newspaper: "If you are renting your place you need to pay taxes on your income. Historically, SAT (our version of CRA and IRS) has looked the other way, but a few bad apples have spoiled it for everyone. SAT has started calling on Homeowners Associations and I believe it is only a matter of time before they take action." For more information, visit rentaltaxmexico.com, or email info(at)settlement-co.com
John Glaab is Director, International Marketing at The Settlement Company, Mexico's oldest title and escrow company. A Certified International Property Specialist, he is a founding member of AMPI Los Cabos and the new Global Mexico Real Estate Institute. In 2012, John was named the International Real Estate Member of the Year by NAR. For further information, contact John at John.Glaab(at)settlement-co.com.