During the presentation, Cuevas announced new initiatives for two social
housing agencies, INFONAVIT and FOVISSTE. He concluded his remarks by predicting
the housing industry in this country will remain strong throughout 2012.
Sharing the Presidium with Ariel were: Adan Laracilla from Pueblo, the
outgoing President of AMPI; Sergio Gomez Rabago, AMPI’s new President from the
State of Mexico; Guillermo Salgada, AMPI’s new Vice President from Cuernavaca;
Alfredo Rabell Manaon, Supervisor of Mortgages for INFONAVIT; Javier Gonzalez
Rubio, Director General of FONATUR (the economic arm of Mexico’s tourism
industry) and Joao Teadora de Silva, the President of Brazil’s Federal Council
of Real Estate Agents.

Several real estate officials from outside Mexico attended the event. These
included Joao Teadora da Silva, Katia Cubel, Frederico Mendonca, Jucelia Silva
and Marta Mendonca – all from Brazil. Among U.S. representatives at the TOMA
were, Jennifer Wiziarde, Coordinator for Latin America for the National
Association of Realtors (NAR) and Alston Boyd, who came from Austin, Texas. Boyd
is the International Chair of the Texas Association of Realtors, and is also
NAR’s Presidential Liaison for Central America. Thijs Stoffer, C.E.O. of the
International Consortium of Real Estate Associations, came form Switzerland to
attend the TOMA.

Ariel Cano Cuevas officiated at the inauguration ceremony. Those being sworn
in were AMPI’s new President, Vice President, and ten new members of AMPI’s
National Advisory Board. Linda Neil of AMPI La Paz/Los Cabos was among those
taking the oath. She will head up AMPI’s International Commission. As well, Neil
has been named NAR’s Presidential Liaison to Mexico. John Glaab of AMPI La Paz
has been appointed Sub-Director of AMPI’s Seniors Real Estate Section (SRE)
program.

Other events during the week included a breakfast of Past Presidents and a
one day leadership class. Attending were members of the Advisory Council,
Regional Coordinators and the Presidents of AMPI’s 75 Sections.

AMPI’s forty first years Annual Conference will be held November 1-3 in
Guadalajara.

Meeting with the media, the European official said that 400 companies in France have invested 13 billion Euros in Mexico, with sales of one billion Euros. Additionally, these investments have generated 90,000 jobs in the country.

He added that the European Union’s concern focuses more on the slow growth that companies have internally, so that Mexico should take its’ expansion plans to boost development.

“Large investment groups of French, Germans, and Koreans, among others are looking to Mexico as a market opportunity, not only for this country but to reach out to other nations of Latin America,” he explained.

Bruno Ferrari, Minister of Economy, said that from January to November 2011, $157,000,000 was invested by the French in Mexico, an increase of 57 percent over the same period in 2010.

“The current global economic situation is a time for Mexico to take advantage of selective investments made by the European nations, making it an important business opportunity,” he said.

In presenting the national award for innovation, the official stressed that a venture capital fund will be investing 500 million pesos in Mexican companies developing technology. He added that over the last three years French investors have supported more than 5,000 new products and services in Mexico.

Meanwhile, Rodolfo Tuiran, Undersecretary of Higher Education of the Ministry of Education, said that in Mexico there are 3.2 million undergraduate students, which exceeds the 1.2 million calculated in 2006. But, this represents only 31 percent of the total population aged between 18 and 19 years.

Therefore, he said, it is necessary to boost education to create new innovative minds and support the development of the economy. He added that only 15 percent of students are engaged in branches of biology, mathematics, and other areas of applied science, so the need for scientists in these areas is urgent.

Translated by the Banderas News Team

In light of depleting oil reserves, talk of solar energy in Mexico is heating up, as the nation examines the potential for drawing energy from the sun. According to National Autonomous University of Mexico (UNAM), the government will fund a project aimed at estimating Mexico’s potential for using solar energy, to see if the sun can fulfill its growing energy demands.

To carry out the research, personnel from UNAM will calibrate solar sensors installed at the Mexican meteorological service’s 133 automated weather-monitoring stations.

According to UNAM researcher Mauro German Valdes, setting the sensors to the same specifications will make it possible to recalculate the last decade’s worth of readings from the stations, thereby creating a central database.

“We will have systematized information from different parts of the country that will be useful for industry, physicists, architects and biologists, among others,” Valdes said.

It is often said that when the US gets a cold, Mexico gets pneumonia. This time it didn’t happen. Let’s look at the data from Mexico’s dynamic economy. During this last recession, in the US millions of homes are in foreclosure, 250 banks failed, bail outs cost trillions of dollars, the deficit rose to 1.4 trillion dollars and unemployment remains above 9%.

In Mexico, however, there were minimal housing foreclosures, no banks failed, there were no bail outs to industry or banks, the deficit is a modest 3.4 billion dollars and unemployment has now dropped to about 7%. Mexico is rapidly pulling out of the recession and the economy has an expected growth rate of 3% to 4%, while the US is hoping for 1.5% growth rate.

The Growing Mexican Economy

Electronics
The electronics industry of Mexico has grown enormously within the last decade. In 2007 Mexico surpassed South Korea and China as the largest manufacturer of televisions and now dominates the world in the production of TV sets. In 2008 Mexico surpassed South Korea and Taiwan to become the second largest producer of smart phones in the world with companies such as Sony Ericsson, Motorola, Samsung, LG, Nokia, Sharp and Blackberry. Mexico is the third largest manufacturer of computers in the world with both domestic companies and foreign companies such as Dell, Sony, HP, Acer, Compaq, Samsung and Lenovo.

Automobiles
Mexico differs from other Latin American countries and developing nations in that it does not function as a mere assembly manufacturer. The industry produces technologically complex components and engages in some research and development activities; an example of that is the new Volkswagen Jetta model with up to 70% of parts designed in Mexico. Most of the world’s auto manufacturers already have plants in Mexico but expansion is now under way with Toyota opening two new plants in Mexicali and Guanajuato. Honda is investing $800 million USD in Queretaro as well an equal amount by Mazda. Honda is also opening a new plant in Jalisco. Fiat’s new plant in Toluca has orders for 50,000 cars destined for China. So far Mexico’s auto production has increased by 14% this year.

Aerospace
We usually don’t think of Mexico as an aerospace giant. However, Mexico is a major producer of subassemblies for Boeing, Airbus and Bombardier. Bombardier (Leer Jet) is the third largest airplane manufacturer in the world and will be building complete airplanes in Queretaro in a few years.

Agriculture
If the US is the bread basket of the world, Mexico is the world leader in produce. Mexico is the world’s largest exporter of avocados, papayas, mangoes, chilies, raspberries, blackberries, melons, watermelons, limes, organic coffee and peppers. Mexico is the world’s second largest exporter of tomatoes, zucchini and guavas, and the world’s third largest exporter of cauliflower, onions, cucumbers, garbanzos and orange juice.

Huge Mexican Corporations

Cemex is the world’s largest construction company and the third largest producer of cement in the world with operations in 56 countries. Cemex is the largest cement company in the US, so large that the US government required them to sell 42 cement plants. Bimbo, the company with the amusing name, is the largest baking company in the world and the largest baking company in the US. America Movil is a Fortune 500 company and dominates the Latin American market with 215,000,000 subscribers.

What Happened?

Globalization is what happened. Free trade between states was built into the constitution of the US. Now free trade is spreading to all countries through free trade agreements. The bad news is that First World countries have to compete with emerging market economies, especially in labor. Jobs are moving to the country that will produce quality products the most cheaply.

The good news is that products cost less. There is no stopping globalization; any country that attempts to back out will become tomorrow’s Eastern Europe. Although the prognosis for Third World countries is bleak at best, over time, emerging market countries like Mexico and First World countries will become more equal and everybody wins.

Yet with tough standards and more people in a home-equity hole due to the housing slump, it’s difficult to get the best rates. There are some ways to improve your odds and a revamped government program might help, but you’ll have to jump through some hoops to sweeten your loan application.

Mortgage applications are surging, largely due to refinancings. Weekly applications climbed 4.1 percent through December 14, according to the Mortgage Bankers Association. The share of refinancing loans was the highest recorded rate this year.

Since there aren’t too many home buyers around, some 80 percent of mortgage activity is refinancing, according to the Mortgage Banker Association. But up to half of those applying for refis may not qualify, according to LendingTree.com, an online lending exchange.

If you’re looking for a loan and have a low credit score or are buying anything but a single-family home, the odds are you’ll pay higher rates, not the phenomenally low average rate of 3.9 percent for a 30-year, fixed-rate mortgage as of December 15.

How do you get the best deal? Here are some guidelines based on what mortgage brokers are telling me.

- Understand How Loan Underwriting Works.

Since banks and brokers are likely to sell your mortgage to a government-sponsored enterprise like Fannie Mae or Freddie Mac, they have to abide by their tight standards. You need to ask about their “loan level price adjustments” and “adverse market delivery charges.” These are surcharges, expressed in a higher loan rate, for a number of variables. Have less than 15% equity in your home? Then the lender must tack on 0.5 percentage points.

- Credit Scores Are Critical.

If your credit score is 740 or above, you shouldn’t face any surcharges if everything else looks okay and your home equity is 40 percent or better. The lower you go on the FICO scale and home equity stake, the higher the rate. Have less than 20 percent equity with a FICO credit score of less than 620? The lender will add 3 percentage points. It’s hard to find a lender who will give a loan if your credit score is this low.

- What Kind of Property Are You Buying?

Depending again on your equity stake, you can pay as much as 0.75 percentage points more for a condo, 1 point more for a multifamily unit. 0.5 point for a manufactured home and up to 3.75 points for an investment property.

- Are You Getting an Adjustable Loan or Cash-Out Refinance?

The surcharges range from 0.75 to 1 point. Fannie and Freddie are trying to play it safe in their standards and avoid another bubble.

None of these roadblocks should stop you from getting a loan, if you’re pro-active. You can improve your credit record by pulling your credit report and see what you can do to improve your score and put more money down if you have it. You need to see if your credit record is correct. Do you have outstanding loans that have been paid off? Sometimes just fixing errors that would lower your score can help.

In terms of a good benchmark, Doug Lebda, CEO of LendingTree.com, says that a FICO score of 720 and above is a good place to start: “You can take steps to get it there.”

What do you do if you’re underwater on your loan and still want to refinance?

In the interim, Fannie and Freddie recently announced a HARP II program that will allow some underwater homeowners to refinance. But the loans must be owned by the agencies and underwritten before May, 2009. You also may not qualify unless you’re current on your mortgage payments. While it’s too soon to tell if this program is going to be effective, it’s worth a look if you qualify.

“The vast majority of people who want to refinance and are turned down are because of lack of equity,” said Dick Lepre of RPM Mortgage in San Francisco. “HARP 2.0 should help that.”

None of these measures, though, will do much to heal the housing market. There are still far too many foreclosures coming on the market, which will depress prices for years.

Those facing default should either be able to rent to own or be allowed to write down mortgage principal in bankruptcy. Low mortgage rates mean nothing to those who can afford the payments on a home that keeps declining in value.

—

The author is a Reuters columnist. The opinions expressed are his own.

During Friday’s inauguration of the 1st National Forum for Retired Americans: Expectations and Solutions of Life in Mexico, the official said that Mexico offers such products as medical tourism, rest and relaxation tourism, and business tourism.

She said that retired Americans are a segment of great importance for developing the economy of the nation’s tourist destinations, and added that more and more Canadians also opt for retirement in Mexico.

Guevara said that the favorite retirement locations are Mexico’s northwestern states and the country’s coastal communities.

At the same forum, the president of the International Community Foundation, Richard Kiy, said that 53 percent of retirees making their home in Mexico are under age 65 and choose Mexico for the favorable living conditions and stable economy.

He said that Mexico being near their home country does influence their choice, as does the possibility of purchasing a home at a much lower price than in the United States.

He said that 34 percent say the economic recession has not affected their retirement plans nor their quality of life.

The study indicated that 93 percent of retirees say that drug-related violence, which has claimed nearly 50,000 lives in the past five years, is not a problem that would keep them from moving to Mexico.

The WTTC Americas Summit will cover North, Central, South America and the Caribbean. It will be held immediately after the T20 Ministers Meeting, which will be held on 14-15 May 2012 in Merida, Yucatan, Mexico.

In partnership with the Mexican Secretaría de Turismo (SECTUR), WTTC will invite high-level delegates from the public and private sector to debate a range of global Travel & Tourism issues in the Americas regional context. T20 Ministers, Ministers of Tourism from the region, NTOs, private and public sector companies will participate in the Summit.

David Scowsill, President & CEO of WTTC said: “Mexico is the ideal host for our first regional Summit, which takes place one month before the G20 meeting. Mexico leads the way in recognizing the enormous contribution Travel & Tourism makes to the economy, employment and export income. President Calderón has a strong commitment to tourism which is underlined by the declaration of 2011 as the ‘Year of Tourism’ and by being the first to join WTTC’s and UNWTO’s joint Global Leaders for Tourism Campaign, which highlights the importance of tourism to global growth and development. We are delighted that he will hold the Chair for G20 in 2012.”

Mexico’s Secretary of Tourism, Gloria Guevara Manzo, stated, “We are honored that Mexico was selected to host the first WTTC Regional Summit and look forward to create synergies and opportunities through the interaction and discussions among the leaders that will attend the most important forum of an industry that not only significantly contributes to the global GDP but also provides the best opportunity to create jobs and growth.”

In August 2011, WTTC implemented a strategy to launch a series of regional events/summits around the globe. The strategy will create new events designed to deliver the objectives outlined in WTTC’s mission and provide significant value to the event’s hosts and partners.

All WTTC’s regional events will concentrate on originality and quality of content, focus on global tourism economics and relate to issues in the region where the Summit is hosted.

A professional travel writer covering positive themes related to Mexico travel, culture and community, Susie Albin-Najera is the creator and editor of The MEXICO Report.

Each of these locations promises sunshine and warm temperatures in November through March. These cities are affordable and easily accessible from North America, with many options for flights and points of departure.

You should also have no trouble finding a furnished rental for the snowbird season, meaning you could easily try the destination on for size and soak up its sun without making any costly or long-term commitment. Here are the top six places to be a snowbird this season.

1. Puerto Vallarta, Mexico – This Pacific coast city has first world amenities, including marinas, yacht clubs, and golf courses, and a reasonable cost of living. Rent near town, and you don’t need to own a vehicle. In fact, Puerto Vallarta can be a great year-round retirement choice, but you could begin to get to know the area by escaping here this winter.

2. Mendoza, Argentina – Mendoza is the capital of Argentine wine country. The area has good food, great wine, reasonable prices, and pleasant weather.

3. Granada, Nicaragua – Granada is an affordable retirement destination with colonial flare. A couple could live here very comfortably on as little as $1,000 per month. This 500-year-old city is situated on a lake with many outdoor activities nearby. Plus, Granada is home to one of the biggest and most established expat communities in the region.

4. Medellin, Colombia – Medellin is a top year-round retirement choice that also makes a great winter escape. One of its main appeals is the weather, which is near-perfect 12 months a year. Medellin is also a cosmopolitan choice, a city that boasts international-standard museums, shopping, restaurants, and nightlife.

5. Cuenca, Ecuador – Cuenca is one of the most affordable and comfortable retirement options in Latin America. Like Granada, it is a colonial city. Unlike Granada, it is situated in the mountains, meaning the climate is less tropical.

6. Christchurch, New Zealand – Christchurch is a small coastal town that is more affordable than the internationally renowned Queenstown. The big downside to Christchurch for North Americans is that New Zealand is all the way on the other side of the globe.

In short, Aduana has raised the limits from $75 USD to $300 USD exempt from duties for non-personal items, and 8 and 9 year old vehicles are now eligible for permanent importation.

To learn more, visit the SAT website’s section on Aduana’s Importation Rules.

It includes useful links to describing rules on allowed baggage, applying online Temporary Importation for vehicles, access to the current status of applications, and the costs for importing specific vehicles using your vehicle’s VIN.

More can be found here: http://www.banderasnews.com/1110/nb-icfretireetrends.htm