The Marietas Islands' Blue-Footed Booby

The blue-footed booby (Sula neboxuii)
The Marieta Islands, a craggy, wild, grassswept national park off Punta Mita on Mexico's Pacific coast, are home to one of the area's famous natural residents: the blue-footed booby.
The seabirds' shockingly bright blue feet are thought to attract the opposite sex. "They dive from sometimes rather large heights into the water. It's very cool," said Dave Mehlman, director of the Nature Conservancy's Migratory Bird Program. "They turn into living feather arrows as they plunge into the water."

About the Marietas Islands: Just off the northern coast of Banderas Bay, the Marietas Island Marine Reserve is one of the most popular places to snorkel in Puerto Vallarta. A variety of tropical fish, sea turtles and friendly giant manta rays flourish in the crystal clear waters surrounding these islands - but watching the whales and wild dolphins in their natural habitat is the most delightful part of this voyage!

Getting There: Vallarta Adventure's fully-equipped and comfortable catamaran cruises to the Marietas Islands often enjoy wild dolphin encounters and, from December to April, Humpback whales are sighted regularly. Upon arrival, you can snorkel or kayak through this Marine Reserve and Wildlife Sanctuary and discover the wide variety of bird and marine life that inhabit these islands.

Whales, dolphins, giant manta ray, tropical fish and indigenous birds such as blue-footed boobies and red-billed tropical birds form a unique and complex ecosystem in the shelter of these islands, and during the day there will be time to explore the islands' rocky caverns and archways while snorkeling, kayaking, or even scuba diving!

After you explore to your heart's content, a relaxing afternoon siesta gives you the opportunity to kick back and relax on the white sands of a beautiful, secluded beach. As you cruise back to Puerto Vallarta, the onboard fiesta wraps up a day full of fun-in-the-sun with an open bar, dancing, music, and entertainment provided by the Vallarta Adventure crew.

Bambinos Wedding

By Polly G. Vicars
No hitches, no foul-ups, no late deliveries, no rain, no wind detracted from this event. A diverse group, mostly Mexicans with a few of us gringos, mostly young folks with a few of us oldies were all united in our common joy for the occasion: the wedding of Yoanne Carrillo Jiménez and eldest Bambino, Gerardo Carlos Morales Salinas.

They elected to have a simple civil ceremony on the roof garden of our beautiful Condominios LaPalapa inviting only close friends and family. Husband and I were proud and happy to be asked to stand up with this charming young couple whom we have come to think of as "ours." The small guest list included fellow "Bambino Groupie" Margaret Tolton along with Producer/Director/Friend Blaine Selkirk, his lovely fiancé Mariele van der Hoeven and her children Celine and Vincent. Of course Carlos' mother, Noemi and his father Genero, brothers Lazzaro, Immer, Giorgio and cousin Luis, the remaining Bambinos, were on the list along with cousins Jacqueline and Roberto.

Yoanne's mother Amelia and brother Benjamin who flew in from Oregon and friends of the bride, Mariel and Xaret, from Colima, where she recently graduated from law school came to be a part of this happy event. Carlos' long time singing partner and close friend, Galdino, and classmates from his law school at CUC, Ignacia and Norma, Immer's and Luis' beautiful friends, Esmerelda and Ruth, and Lazzaro's Cristina and her mother Paula, who luckily were in town from Oregon, rounded out the happy group.

The backdrop for the ceremony was the blue sky and the sparkling waters of Banderas Bay. Yoanne was striking in her off-white, off-the shoulder dress that complimented her petite figure. Her artful bouquet of white roses added just the right touch. The smile on Carlos' face made it impossible to even notice that he was appropriately and handsomely clad. My friend Marta Huante-Robles, a professional photographer, recorded everything for Yoanne and Carlos and for you and for me.

Husband, Carlos, Yoanne and I stood before a white draped table graced by an arrangement of white roses that complemented those carried by the bride. A very attractive and gracious young female judge conducted the solemn ceremony, talking seriously to the young couple about the expectations and obligations of each of them as they entered this new phase of their lives as well as the joys they could anticipate in the years to come. She accorded the parents of Yoanne and Carlos, as well as Husband and me the opportunity to say what we felt about this union. I was too emotional to say anything more than that I thought they were perfect for each other, while the others expressed themselves more eloquently, they ended up saying the same: they were perfect for each other!

The four of us and the parents signed the many legal papers presented to us by the judge legitimizing that now Yoanne and Carlos were indeed husband and wife. After that legal pronouncement and the traditional kiss, Galdino brought out his guitar to serenade the newlyweds with beautiful music of love and joy causing a rash of Kleenex to be pulled out to dab the already teary eyes of many of us.

After Marta completed photos of everyone, we went down to Restaurant La Palapa on the beach for the wedding dinner, where Yoanne and I had labored over the seating arrangement for everyone. La Palapa made a special souvenir menu for each person with the names 'Yoanne and Carlos' on the front that added a very personal touch to the beautifully set table for this perfect evening. The waiters of this, my favorite restaurant, were especially attentive to our group as they all knew Los Bambinos and seemed to be pleased that we had chosen their restaurant for the occasion. Of course we enjoyed a drink or two as we feasted on a three-course gourmet dinner, impeccably prepared and served.

Then came the champagne that called for traditional toasts. Husband, who sometimes thinks he is one of the Bambinos, started, followed by one after the other of the guests who rose to salute the couple. Some were more loquacious, some more humorous, but all were meant to extend best wishes and happiness to this young couple. Next came the wedding cake, adorned with real white roses continuing Yoanne's theme. But before the cake could be cut and served, another tradition had to be upheld, "la mordida" (the bite). Galdino did the honors on this night. He put his hands on the couples' heads, pushing them down into the cake where they had to take the first bites accompanied by much laughter and anticipation of the delicious bites all of us would soon take.

As with all good things the celebration came to an end. I know that the feeling of happiness that both Husband and I felt in our hearts was felt by all who were with us. No one could have started her or his life together with more love from those who surrounded them at their wedding than beautiful Yoanne and handsome Carlos. This was, indeed a perfect Puerto Vallarta wedding!

AFCI Locations Trade Show 2007

Nayarit Film Commissioner Robert James Roessel and associate Guillermo Guerrero attended a film location expo in Santa Monica, California to help promote the destination as a place to make films as well as the upcoming 2007 Vallarta Film Festival.

Currently they are working with Televisa and MTV on important projects to possibly be shot here. Mexico was awarded 2nd prize at the location expo for best overall booth.

Financing News

Great Financing News for Current & Future Mexico Home Owners
By Doug Jones, Copyright 2007.

Up until a couple of years ago if you wanted to purchase a home in Mexico, your only option was to pay cash. The first piece of great news is that situation has changed and US-style mortgage loans are now readily available for those purchasing in Mexico.

That's the old news....here's the new headline...
Refinances are now finally available. We've been hoping to have them for months and now they're finally a reality.
If you already own a home or condo in Mexico, you're probably sitting on a lot of equity in the property. Up until now, it has been next to impossible to convert this equity into cash that you can use for whatever purpose you choose – including the possibility of purchasing another property in Mexico. There has been a recent introduction of a new cash-out refinance loan specifically for properties in Mexico.

This benefits not only those who currently own property in Mexico, but also those planning to buy as it enables them to take advantage of property appreciation in the future. The leading lender of Mexico mortgage money, has announced an excellent loan program that allows you to turn your existing Mexican equity into cash. You may borrow up to 70% of your initial purchase price, or 50% of your current value with a maximum of $1 million cash out. These loan programs are all 30 year terms and include a 3 year fixed/27 year adjustable, 5 fixed/25 adjustable, 10 fixed/20 year adjustable, and even a 30 year fixed loan.

If you are concerned about pre-payment penalties, these loans have no prepayment penalties after the first 3 years. There is only a .25% add-on for the refinance loan versus a new purchase, and closing costs can be taken out of the proceeds of the loan. This US-based lender only loans their money in Mexico through authorized mortgage brokers – they do not loan any money directly to the borrower. Because of this, it is extremely important that you choose your loan broker wisely. Looking on the internet is a place to start, but you will want to do your due-diligence to make sure you are working with not only an authorized broker, but also a broker who knows what they are doing in Mexico.
Some authorized loan brokers have closed fewer than 10 loans and most haven't closed any at all. So, just because someone looks good on the internet doesn't mean they can deliver in the real world. An important question to ask any mortgage broker purporting to do business in Mexico is, "How many loans have you actually closed in Mexico?"

With a real estate market that has softened in many sections of the US, many loan brokers are looking to "greener pastures" and consider Mexico as an area where they can originate loans from the convenience of their office in the US. Mortgage loans are still a challenging procedure in Mexico, and if you do not work with an experienced loan broker, who is actively on-the-ground and has closed loans in Mexico, you are opening yourself up to frustration and likely disappointment in the processing and funding of your loan. Just because a loan broker is authorized by one of the US lenders loaning money here doesn't mean they all know what they are doing. Loan brokers are not licensed in Mexico, so it is very much a "buyer beware" type of market.

How can you assure yourself you are working with a knowledgeable loan broker? The best way is to ask for referrals from the borrowers and the real estate agents they are working with. Individual websites are all self-promoting, so you can't always believe everything you read. Ask your loan broker how much time they devote to their Mexico mortgage business – is it a part time endeavor for them, or are they doing it as their full-time profession? How long have they been working their Mexico mortgage business? Talk to your prospective loan broker on the phone and you will get a good sense that they know, or don't know, what they're talking about. Make sure they talk specifically about the mortgage process in Mexico, and not the US – these are entirely different animals. Avoid any broker who asks you for a significant up-front fee for their services. A reputable broker will receive their compensation when the loan actually closes...not before. A small application fee of approximately $200 is common and acceptable. You can expect to receive the proceeds from your loan in approximately 90 days, depending on the time of year.

There are delays that occur through the Mexican bureaucracy because of holiday closures. You will need to be able to show current income, that you file tax returns in the US, and that you still have credit accounts in the US. At this point-in-time, Canadians are not eligible for these loan programs, but by 1st or 2nd quarter '07, we may see Canadian eligibility. We will be looking forward to making that announcement as we know how many people will be benefited. So, what's the bottom line? If you've been wishing there were a way you could tap into the equity in your Mexican property, that day has finally arrived. Refinances are here.

Doug Jones is the founder and President of Mortgages In Mexico, and has been working the mortgage business exclusively in Mexico since Sept 2004. He is considered a pioneer and a well respected expert in mortgage financing in Mexico. He owns a home in Puerto Vallarta. You can reach Doug by calling (US) 918-398-9588, or in Mexico, 555-350-6331 or email This email address is being protected from spambots. You need JavaScript enabled to view it..

Chamber of Commerce

Carlos Rizo Aceves, ex-President of Puerto Vallarta's Chamber of Commerce, in an interview last week stated that there are "high expectations for Vallarta." Commenting on the last few years that have been difficult in Vallarta since Hurricane Kenna, Rizo said that the expectation is to improve Vallarta by "working together united by the same objective." Rizo believes that now is the time that businesses of Vallarta will come together because so many of them have been financially hurt in the last few years. Rizo says that his recent communication with business owners throughout Vallarta shows "there are a lot of high expectations and hopefully they will be attained."

A Real Christmas story

BBLUE CHAIRS CHRISTMAS
by Patricia O'Toole

Congratulations to the organizers Nancy and Marg for another joy filled day of providing toys for families who are less fortunate. For the past few years the section known as "The Blue Chairs" on Los Muertos Beach have held this fabulous event.

People were lined up waiting for the time that the children could go in and pick out a toy.

What an exciting day it was. Christmas day in the "Blue Chair" section where there were several Palapas with all kinds of toys hanging from them. There was Strawberry Shortcake dolls, bears, soccer balls and many other toys adding to the excitement of the children waiting in line to come in.
The children who were wide eyed and waiting patiently were allowed to go through the section – four at a time and were helped by a volunteer to choose their present. The first toy to go was a large "Strawberry Shortcake" doll by a little girl who had trouble carrying it because she was so small. I was humbled by the children's animated smiles as they chose their gift. The second "Strawberry Shortcake" doll soon followed.

The most popular gift by far was the soccer ball.
Girls and boys of different ages chose one. Large Teddy bears and large stuffed animals were second.

Cameras were flashing by many bystanders and organizers who were cheering with the children as they passed through the toy laden Palapas with huge smiles on their faces.

The REAL success was that EVERY child that came was able to walk away with something special. They ask for so little and the Blue Chairs along with volunteers helped create a touch of magic for these families today. Now this is what Christmas is really about!
Many thanks to everyone who volunteered and donated their time and toys; there are so many names to mention, however, I must point out a few who manage somehow to create this thrilling day for these families for the past several years! They are: Nancy/Marg, Nashville who orchestrated this event this year, Cheryl/Roy, Dallas, Nigel/Jordie, Vancouver, Canada, Fred/Steve, New Jersey, Julian/Phillip, New York, Elaine/Jessie, Vancouver, Canada, Don/Steve, Seattle.

Honourable mention goes to a couple of guys named Dan and Todd who apparently spearheaded this organization years ago but were unable to make it this year.

Thank you ALL for giving so much of your time and heart to these people, we the public and those who received your gifts are touched by your generosity.

Home Financing Now Available in Mexico

The dream of owning a home in Mexico is on the minds of more and more North Americans, as they experience all the natural beauty and rich culture this country south-of-the-border has to offer. Many North Americans are looking for a place where they can make their retirement nest-egg stretch further than where they currently live. The cost of living in Mexico is definitely much less expensive than where you may presently call home – with one caveat. This is true once you have your housing expenses figured out. Real estate is rapidly increasing in cost/value. This is good if you already own a home in Mexico, and a reason to act quickly if you don't.
Up until this year, the only way to purchase real estate in Mexico has been "cash-only." In spite of the "cash-only" scenario, a LOT of real estate has been purchased by North Americans – especially in the last four or five years. More North Americans have discovered the Mexico experience, but it is just the beginning. Many baby-boomers have the vision of "Old Mexico" in their minds – usually an experience of a border town when they were growing up. This is not the Mexico of today. Resort living near the ocean, and charming towns on the interior, as well as a family-oriented culture that is a throw-back to the 50's are what Mexico is all about. And word is getting out through the print media, as well as word of mouth. When someone finds their own little piece of heaven in Mexico, the next thing they begin to think about are which friends they want to talk to about moving to Mexico as well. What better scenario is there than to be with your best friends discovering a new life in Mexico?
These dreams can come to a screeching halt when it comes time to purchase a home in Mexico. Most people don't have a lot of cash just lying around to buy a second/retirement home. Many North Americans have given up on Mexico, or purchased homes much smaller than they would prefer based on limited cash availability. But don't dispair – home financing is now available in Mexico! This financing is looking more like what you are used to in the US and Canada, although there are still some differences.
The terms of loans in Mexico are a bit more restrictive than what you're used to. There is still a greater degree of risk for lenders making loans in Mexico than in the United States or Canada. Higher risk equates into higher interest rates and a shorter loan term. At the time this article was written, interest rates are approximately 7.99% for USDollar loans, with 30% down and a 20 year term. Interest rates for MXPeso loans are around 11.98%, with 20% down, and a 20 year term. Although the MXP loans are a higher interest rate, you have the best of both worlds when you can earn income in the US or Canada, and make fixed-peso payments in Mexico. This is because of the 30 year history of devaluation of the MXP to the USD. What this means to you (should devaluation continue) is that it takes fewer and fewer dollars to "buy" the same amount of pesos every year, so effectively your payment is going down.
The process of getting your loan approved is very much the same as in the US and Canada. You will be required to show sufficient income to qualify for your new home payment in addition to your existing monthly obligations. A credit report will be evaluated, and funds necessary for down payment and closing costs will be verified. These loans are very much a throwback to the way lending used to be done in the US – what we refer to as "full doc(ument)" loans. Credit approval may take 2-4 weeks. The property is also appraised to determine value and condition of the property. Once your loan is approved, you begin to venture into areas different from what you know in the US and Canada.
In Mexico, the closing is done through a Notario Publico, which is very different than our Notary Publics in the US and Canada. The Notario Publico is essentially the gatekeeper of the entire transaction. They prepare the escritura (deed), which is the master document in the transaction. Included in the wording of the escritura are the terms of your fideicomiso (a bank trust required for all real estate transactions to foreign nationals buying property in Mexico), and the terms of your loan. There are many documents needed in order to close, and it can take, by our standards, a long time to get them. It is not unusual for the closing to take an additional four weeks or more after you have received loan approval. The loan fees for your loan are very similar to the US and Canada, although they may be a bit higher because of the additional work and difficulty of doing a "cross-border" loan (lending money from the US/Canada on property in Mexico). The big differences in costs when purchasing real estate in Mexico are the fees and taxes to the Mexican entities. These can add up, so be sure to get a good estimate of what your total costs will be so you can plan for what you really have left over for a down payment.
Since financing is still very new in Mexico, real estate agents and sellers may be reluctant to use financing. As is true in the US and Canada, the success of your experience depends on the expertise of your loan officer. There a lot of new companies opening up in Mexico, and a lot of "green" loan officers. Personally, I have been on the ground in Mexico for just over a year, and I am much smarter today than when I started. There is a definite learning curve on doing loans in Mexico, so make sure you are dealing with someone who knows what they are doing. It is a good idea to pre-qualify yourself with your lender so you can present the seller something that shows you are qualified to purchase their property. In many cases you will be competing with a cash offer (yes, many people still pay cash for their property in Mexico), so your offer to purchase will be much stronger if you can show the seller you are qualified for a loan – the equivalent to cash, but it will take longer to close than straight cash. Be sure to make your contract contingent on loan. Include enough time in your contract to make sure you can close your transaction. You do not want to have time run out in your contract, you haven't closed yet, and a cash offer comes in when you're out of contract. Sellers don't want to take their property off the market and miss a potential cash offer, so you're walking a fine line, unless you have a letter to present to them showing you can qualify for a loan. You can put two different dates in the contract – one is a date by which you need to receive a loan commitment that says you are approved for the loan, and a second date to close by. Usually, a seller will be comfortable with 30 days or less for you to get your loan commitment. If possible, get a total of 90 days for closing from your original contract date. Many lenders will say they can close in less than 90 days, and many times it can be closed in 60 or less, but it is much more prudent to get 90 days in your contract -- just in case an item or two that is needed for closing is done on "Mexico time" and not the timeframes we're used to. This is a fact of life in Mexico!
Financing the purchase of your home in Mexico is a new reality. Work with a good real estate agent and loan officer - someone you can trust, and who has the experience to help you with financing. With a little patience, your new home in Mexico will become your own new reality.

Doug Jones is the founder of MortgagesInMexico. With 30 years lending experience, he has become one of the foremost experts in Mexico mortgage financing being one of the first to bring US-style lending to the market. Doug lives in the Vallarta area but has offices throughout Mexico, serving the entire country. For more information: This email address is being protected from spambots. You need JavaScript enabled to view it. 918-398-9588 (US) 555-350-6331 (MX) or visit website at www.MortgagesInMexico.com