OCTOBER Ëœ DECEMBER 2018
Casa Niparaya in Querencia
REAL ESTATE: Community Spotlight:
Rancho San Lucas
Unraveling the Mystery of the Fideicomiso
IN THIS ISSUE
Unraveling the Mystery of the Fideicomiso
DESIGN & DECOR
Creating an attractive rental property
10 COMMUNITY SPOTLIGHT Rancho San Lucas
12 REAL ESTATE LISTINGS
Publisher Owen Perry Editor in Chief Michelle Monroy Art Michelle Monroy Writers / Contributors / Photographers Alex Hugessen Blake Harrington Billy Cowley Julie Kershner Michelle Monroy Advertising Account Executive Billy Cowley - firstname.lastname@example.org PR and Marketing Manager Justine Schock - email@example.com Editor’s contact: firstname.lastname@example.org
Next advertising closing date: November 8, 2018 For advertising rates please contact: email@example.com (624) 105-9700 / (624) 142-4949 www.BajaHomeMagazine.com DESTINO GROUP SA de CV (011 52) (624) 142-4949/105-9700
Carretera Federal Libre Transpeninsular San José-San Lucas. Km. 4.3, Local 6, Col. El Tezal, Cabo San Lucas, Baja California Sur. ISSUE 11 OCTOBER 2018 Printed in the USA. All rights reserved. No part of this publication may be reproduced in any form without the written consent of the publisher. © 2018 Destino Group SA de CV Imported by: Comercializadora Californiana, S. de R.L de C.V. Circulation throughout Southern Baja. For more information on distribution visit:
Unraveling the Mystery of the
by Julie Kershner
ou’ve probably heard that foreigners are unable to own property in Mexico. That is untrue, and in most of Mexico, foreigners can own land through fee simple title, the same kind we have in the United States. Only in the restricted zone—50 km. (31.05 miles) from the ocean and 100 km. (62.1 miles) from the borders—is it true that foreigners can’t hold fee simple title. Baja Peninsula is considered a “Restricted Zone”. This land is restricted through the Mexican Constitution. To encourage foreign investment in real estate without infringing on the Constitution, Mexico changed its foreign investment laws in 1971 and developed the bank trust (fideicomiso), as a way for foreigners to buy residential property in the restricted (coastal) area. The terms Bank trust and fideicomiso are used interchangeably. Mexican nationals also have the option of using the fideicomiso to acquire real estate or other assets. To understand why this might be advantageous to a Mexican citizen, as well as a foreigner, let’s examine the various parties to the fideicomiso. The buyer of the property is the beneficiary of the fideicomiso. The beneficiary can be a person, a couple, a family, an LLC or a trust. The buyer/beneficiary has all rights of ownership: the right to buy, sell, lease, use, bequeath, improve, transfer, and encumber. The seller is the grantor. With the sale of the property, a seller relinquishes all rights of ownership. The Mexican bank is the Trustee and has a fiduciary responsibility toward the buyer, which means the bank must act in the best interest of the beneficiary. A foreigner is unable to purchase a property in the Restricted Zone without a fideicomiso. The bank actually holds title to the property. This is an important
advantage in that the trust acts as a protection against third-party claims against the assets within the fideicomiso. In simple terms, a party is unable to attach a lien on a property held in a trust/ fideicomiso. The fideicomiso allows for substitute beneficiaries to be added during the creation of the trust. In the case of the death of the beneficiaries, the substitute beneficiaries may avoid Mexican probate—another important advantage. Although the bank has title to the property, it’s a title without benefits. The property is not considered an asset of the banks. The bank cannot sell, rent, or receive any benefits from the property, because they don’t control the property. If the Trustee goes bankrupt, the fideicomiso transfers to another Mexican bank. When the foreigners choose a property, the bank will be instructed to purchase the land as Trustee by seeking a permit from the Ministry of Foreign Affairs. The bank, as Trustee, ensures the terms of the trust are fulfilled, assuming the technical, legal and administrative supervision of the agreement for the Beneficiaries protection. The fideicomiso generally has a legal limit of 50 years, and it is possible to renew trusts for additional 50 year increments. It costs about $1500 usd to set up a bank trust and between $400 and $600, annually, to maintain the trust. Another advantage of the trust is that it’s transferable and in most cases does not have to be re-created when the property is sold. There has been recent talk about a change to the Constitution allowing foreigners to purchase real estate in a fee simple manner in the restricted zone. Personally, I like the protection the bank trust offers and will continue using the fideicomiso as the manner in which I hold title to properties in Mexico. i
CASA NIPARAYA By Alex Hugessen
Named after an all-powerful deity of the original inhabitants of Southernmost Baja California, Casa Niparaya creates an uncommon mold for anyone fortunate enough to take possession of this striking home. Architectural wooden beams, textured concrete walls and over-sized marble slabs melt with just enough natural stone and tile to jolt the visitor back into the reality that they are still, in fact, in Mexico. While the raw numbers of 5,628 square feet, and 5 bedrooms and 5.5 bathrooms spread over a thoughtful palate of indoor/ outdoor living are impressive, it is truly the design, conception, materials, and unexampled location that make Casa Niparaya unique and far different from any other home ownership opportunity in Cabo, especially as a newer build. No other home in Los Cabos has been built with equal thought, care, and integrity. Casa Niparaya uses wide open spaces and a sequence of modern features and custom furniture that breeze through accomplished landscaping and bespoke outdoor lighting that blurs to the community of Querencia, as it boldly sets the canvas for the home. Querencia itself provides an 1,800 acre of cherished land that connects the arid wildflowers of the Southern Baja desert with the crashing surf of the Sea of Cortez. A 58,000 squarefoot 5-star clubhouse has established itself above and beyond similar communities, and provides the stepping-off point for a Tom Fazio designed golf experience and an array of amenities. A yoga pavilion, state-of-the-art fitness center, fine dining, business services, kids and teen facilities and a stunning collection of pools and jacuzzis, complete the communityâ€™s focal point. The newest addition to Querencia is a beach club featuring casual dining, a fire pit, and private cabanas that sit on a perfect and lonely Sea of Cortez cove. This property remains a fitting tribute to the PericĂş, an ancient culture who believed in an all-powerful master named Niparaya, creator of heaven and earth. i
For more information on Casa Niparaya contact Blake Harrington: firstname.lastname@example.org
How to Decorate your Cabo Home to Create a Good Rental Property by Monica Markeset with Homestore Cabo. email@example.com
s most are wanting to purchase a property for rental income now vs. retirement or full time use, furnishing a condo or villa adequately is a very good idea. New buyers are even buying online and flying down for the closing and want it furnished before they leave to start generating rental income right away. Here are a few tips for furnishing a rental property. Sectional sofa beds and Trundle beds are always handy and add more value to the rental price. They can be custom made with Mexican outdoor durable fabrics to handle the wear and tear to keep from fading and to permit easy cleaning. Polarize your windows to avoid sun from fading your new furniture, to keep the heat out, and to protect the windows from shattering in strong storms. Black-out curtain fabrics come in pretty textured colors and prints that will make your place memorable. Use a reversed pleat to give it a cleaner modern look and add a tall 20 inch hem to the bottom of your curtain in a different fabric which can add some spice to your room. Colorful blinds are an easy way to freshen up the space without investing much. Upholstering love seats, ottomans, and benches in outdoor color full fabrics makes your place stand out for the online renter
Image courtesy of Cabo Homestore
trying to find a beautiful place to stay. Buy quality outdoor pillows for the inside, even if they cost a bit more as they will last much longer. Stray away from vinyl furniture that will only get destroyed by the sun and wet bathing suits. Make sure each room has a good ceiling fan to keep the a/c bills down. Try warm mood-lighting for the advertising photos which enables more attractive pictures than white lighting. Thereâ€™s no need for a TV in each room as most people on vacation in Cabo rarely watch TV. Add a strong hidden room safe in the master bedroom closet for passports and valuables. Take clutter out of bathrooms and add some aromatherapy amenities. Most of the older condos and homes have the sturdy pine furniture that was available here 10-15 years ago. If you donâ€™t have the budget to change everything on the first round, it can be done in phase. Make sure you have a good property manager that can help you complete the tasks. Faux painting a featured wall or adding a trendy dramatic wall paper can easily modernize the room to attract more rentals. Those old large TV armoires can also be cut in half and used as a console by placing a light--colored marble top which adds more space and light to the room. Most marble stores will gladly sell you cut left over pieces. Painting dark woods a lighter cream or grey wash is easily done and gets rid of the dark chocolate color that is out of style now. Most
people like light colored cabinetry made of reclaimed/recycled wood. Even unique drift wood pieces can be used to make side tables with a thick glass top or placed in shadow boxes as art for hallway niches to mix nicely with the contemporary eclectic on going styles. Parota and alder wood is in style and is resistant to termites. High quality sheets and bedding are a must, otherwise you will receive negative comments in your review. Give away your old zarapes and invest in soft pretty coverlets or white duvet sets that will photograph nicely and give a clean inviting fresh look. Tall head boards keep you from having to put art or mirrors above, whether you select light wood or upholstered tufted ones. Avoid the cheap compressed fake wood as it will only swell with humidity and last less than two seasons. Banana tuck in counter stools are better than the large bulky ones for kitchens. Patio furniture has to be deep and comfortable as that is what your renters want; to enjoy our fabulous Cabo outdoor lifestyle and views. Make sure the fabrics are light and attract the eye, rather than using dull dark browns. Greys have now become a likeable color by all. Monogramed colorful towels are not expensive and it keeps renters from losing them. Keep an owner closet for your personal items and set-up appointments ahead of time with a local interior designer. i
R ANCHO SAN LUC AS
by Billy Cowley, Sales Agent with REmexico Real Estate, firstname.lastname@example.org
abo San Lucas, a name that often conjures up the image of sunburned tourists sipping margaritas at a trendy beach bar, a marina bustling with merchants and fishermen, or a crowded nightclub pulsing to the beat of a popular DJ. This is the Cabo we all know and love, but if one was to slip out of downtown for a quick 10 minute drive, luxurious and tranquil living awaits on the Pacific shore. One of the more recent areas to be developed in the area, Rancho San Lucas is the newest player on the block, and they aren’t wasting any time in establishing themselves as one of the premier destinations in all of the Baja. Part of Solmar Resorts, Rancho San Lucas is their first foray into exclusive, master-planned community living, and they have set the bar high. Situated on 1.2 miles of pristine Pacific coastline, with almost 850 acres meandering through the desert and majestic sand dunes. It will be hard to not leave your worries and stress at the gate as you enter the community through their private road. Unlike other resorts in the area, the creative powers at Rancho are not trying to bend Mother Nature to their will; instead their use of timeless Mexican and European architectural designs, combined with modern luxury and comfort; and the total layout of the development, all strive to blend with the overall surroundings. From the exterior paint choices, selected to compliment the colors of the desert, the dunes and the beach-line; to the decision to replace power lines and street lights with underground utilities and ground lighting, in order to preserve ocean views and the night sky; it is clear that Solmar Group wants its owners and guests to always remember that the landscape and the ocean are the true stars of the property. Phase One of Rancho San Lucas, consists of 34 single family villas, with Phase Two set to launch this fall. Situated on the highest point of the property, these villas are designed to offer every owner unobstructed long views of the ocean. Not being a company to rest on its laurels, Solmar decided to partner with PGA Legend Greg Norman and Norman Estates to deliver a luxury collection of 32 single family homes and 36 condos; the epitome of exclusive destination
living. Along with prime beachfront location, these elegantly appointed “Baja Chic” homes and condos will boast expansive indoor-outdoor living, and sweeping panoramic views of the Pacific. Regardless of property choice, owners and their guests will enjoy exclusive access to the various amenities offered by the masterplanned community, including the Greg Norman designed 18-hole championship golf course. Arguably the crown jewel of the property, hackers and pros alike will be stunned by the never ending views as the course, grassed completely in the highest quality Seadwarf Seashore Paspalum, makes its way through variations in landscape, including: high desert arroyos, sweeping sand dunes, and breathtaking oceanfront holes. In addition to golf, owners will enjoy the Mexican-Style Village, complete with various dining, shopping, and entertainment options. Complimenting the Village, owners will enjoy the Community Lake Park, which will host an amphitheater, tennis and pickle ball courts is scheduled for later development. Miles of hiking and biking trails will provide hours of outdoor activities for all levels of nature enthusiasts. Alongside the exclusive amenities inside the masterplanned community, owners will also have access to the resort amenities of the Grand Solmar at Rancho San Lucas. Some of the amenities include: private beach cabanas, a salt water lagoon, a water park (complete with slides and a lazy river), fitness center, beauty shop and spa, event venues, restaurants, bars, cafes, lounges, and complimentary shuttle to the Grand Solmar at Land’s End. Whether you are a long time veteran of the area, or here for your first trip, this is definitely a property that should be on your mind when visiting Los Cabos, especially if exclusive and high-end destination living is something that strikes your fancy. Opportunities like this rarely knock twice, so a tour of this development is strongly suggested. Who knows, next time you fly into SJD, you might feel the giddy rush of knowing you’re an owner in one of finest communities in one of the most gorgeous corners of the world. It sure beats the sinking feeling of a missed chance, stuck on the outside, forever looking in. The choice is yours, Rancho San Lucas is now. i
ARRIBA DE LA ROCCA - PACIFIC COAST $2,900,000 US • 5 Bed • 5 Bath • 4,465 Sq Ft • MLS# 18-1593
Find paradise an address.
Secluded, one of a kind hilltop residence overlooking the Pacific Ocean. Perched on a clifftop with absolute privacy, you’ll enjoy 360 degree views of ocean blue waters, as well as the Sierra de la Laguna mountains to the east. Four spacious and private bedrooms, each uniquely designed with private en suites and individual covered patios, taking in unobstructed, spectacular views and cooling sea breezes. This unique home features a huge open kitchen/living/ dining room with wrap around windows and doors flooding the space with light and vistas across the ocean from Punta Lobos to Migrino. The kitchen is spacious with custom cabinetry and counters and an 11 foot hardwood slab island. Floor to ceiling flagstone fireplace and stone bar add to the custom interior of this captivating space.
Julie Kershner MEX 624.118.1616 US Cell 520.204.5450 Julie@caborealestate.com www.CaboRealEstate.com
CASA NIPARAYA - QUERENCIA - SAN JOSE DEL CABO Coming on the market soon • 5 Bed • 5.5 Bath • 5,628 Sq Ft Casa Niparaya creates an uncommon mold for anyone fortunate enough to take possession of this striking home. Architectural wooden beams, textured concrete walls and over-sized marble slabs melt with just enough the natural stone throughout this property. With 5,628 square feet spread over a thoughtful palate of indoor/outdoor living, Casa Niparaya is unique and far different from any other home in Los Cabos, especially as a newer build. Casa Niparaya uses wide open spaces and a sequence of modern features and custom furniture that breeze through accomplished landscaping and thoughtfully customized outdoor lighting that blurs to the community of Querencia, as it boldly sets the canvas for the home.
Blake Harrington (624) 191-3462 email@example.com www.CaboRealEstate.com
RE LISTINGS CASA SUEÑO - BEACHFRONT COSTA AZUL - SAN JOSE DEL CABO $3,290,000 USD• 3,228 Sq Ft • 6 Bed • 5 Bath • MLS# 17-1105
Beachfront Development Opportunity! Zoned commercial for 6 levels plus one level for parking, Casa Sueno sits on one of the best surfbreaks in all of Los Cabos. Enjoy beautiful sunrises and sunsets from this Costa Azul location in SJD. Boasting 1,730 sq meters, with 25 meters of beachfront, this property is an absolute special find in today’s development boom in Los Cabos. NOTHING AVAILABLE LIKE THIS ON THE MARKET CURRENTLY. Included with sale is the Federal Beach (zona Federal) concession 500 sq. mts. ($3200 mn. Bi-monthly). Located directly on the beach with whitewater views, Punta Gorda views, and Costa Azul beach and hotel zone vantage views.
COPALA AT QUIVIRA 5205 - PACIFIC $379,000 USD • 2 Bed • 2 Bath • MLS# 17-1408
FINANCING AVAILABLE! Copala offers world class amenities on the Pacific Ocean only minutes from downtown Cabo. The property includes a Jack Nicklaus Signature golf course, clubhouse, 24-hour concierge, deli, cinema, gym, beachclub, and multiple restaurants throughout the community. This brand new 2BD/2BA condo will be delivered Spring 2018. Many upgrades including Colonial Gold granite, screened doors and windows, soft close drawers, exposed ceiling beams and more!
Justine Schock Local Cell: (624) 168-9268 WhatsApp: (253) 229-8918 firstname.lastname@example.org FB & IG: @loscabosliving www.CaboRealEstate.com
LA RESIDENCIA A2 - SAN JOSE DEL CABO $999,000 USD • 3 Bed • 3.5 Bath • MLS #18-1355
La Residencia at Costa Azul, a small enclave of only thirteen luxury residences, features panoramic sea views from Palmilla to Punta Gorda, and beautifully designed living spaces just above the sand. With nearly 3,000 sq. ft of air conditioned space, this residence is offered furnished, ready for move-in. Beautiful open cook’s kitchen with top-end finishes. Wide open indoor spaces and outdoor living terraces on the sea side make this unit a beach-lover’s paradise with full resort amenities, including a private fitness center, activities room and seaside pool above the waves. Only minutes from SJD airport to feet in the sand on one of Los Cabos’ prime beaches, Costa Azul. 2006 Hummer 38K miles also available.
Blake Harrington (624) 191-3462 email@example.com www.CaboRealEstate.com
Chris Johnson (624) 192-3539 firstname.lastname@example.org www.CaboRealEstate.com
Julie Kershner MEX 624.118.1616 US Cell 520.204.5450 Julie@caborealestate.com www.CaboRealEstate.com
RE LISTINGS CASA 17, LAS PALMAS - CABO SAN LUCAS $250,000 USD • 3 Bed • 3 Bath • MLS #18-635
This is a two story house located near the end of a cul de sac. First floor has living room, dining room, kitchen and third bedroom with a full bathroom. Upper floor has master plus guest each with bathroom and a nice terrace to sit out on and watch the sun rise or set. Large deck on first floor when one could have a nice BBQ and entertain.
VILLA DANZANTE - LORETO
3,859 A/C Sq Ft • 2,103 Patio Sq Ft • 3 Bed • 3.5 Bath
Own your quest for beauty. This single story home embodies modern villa luxury. Seamlessly blending indoor and outdoor living space, this home is designed to compliment and inspire both inside and out. Inquire for pricing. All renderings, drawings, plans, dimensions, specifications and features are conceptual and subject to change without notice due to the dynamic nature of the development. The Developer reserves the right to modify or withdraw any of these at its sole discretion.
Ardelle Graven Local Cell: (624) 157-4677 Ardelle_graven@msn.com www.CaboRealEstate.com
CLUB LA COSTA, PHASE 1, V 8 - SAN JOSE DEL CABO $114,000 USD • 1 Bed • 1 Bath • MLS# 18-1330
SUPER PRICE, MOTIVATED SELLER! Perfect, quiet location in well maintained complex, low HOA, ground floor unit offering large walk out patio, morning sun facing east, view to Vidanta golf course. This one-bedroom unit comes fully furnished, full size washer/dryer, newly installed mini split AC, large flat screen TV, steps to main pool with swim up bar, palapa area for entertaining, or use of smaller more private pool close to your building. Easy walk to Del Pescador plaza to fine shops, dining and night life. Beach access and transportation nearby. Taxes are in pesos. Low HOA in dollars.
Deborah Reubens Local Cell: 624.137.3980 US: 209.779.5404 Deborah@CaboRealEstate.com www.CaboRealEstate.com
email@example.com www.danzantebay.com US Toll Free 844.622.0799 Mx Office +52.613.134.1040
REAL ESTATE: Unraveling the Mystery of the Fideicomiso - Community Spotlight: Rancho San Lucas