Vail gains favor with Mexican buyers

Seeking havens for money and family, wealthy Mexicans are buying multimillion-dollar homes and businesses in Colorado ski country.

By Teresa at MSN Real Estate Nov 13, 2012 2:12PM

Education Images/UIG/Getty ImagesForeign investors have long been an important part of the U.S. real-estate market, especially in cities such as Miami, Dallas and Los Angeles.

 

But as they look for safe investments, international investors are also looking elsewhere for deals. Wealthy Mexicans, for example, are picking up ski properties in Vail, Colo., and environs, The Wall Street Journal reports.

 

Two of the past three sales at a new Vail Village development called the Solaris were to Mexican families, who paid about $6 million for their new homes. Latin Americans, the majority of them Mexican, have bought 60% of the units there in the $12 million-plus price range.

 

The Mexican investors are attracted to the safety that the area represents to themselves and their families. While some are buying vacation and investment homes, others are moving to Colorado full-time.

"Safety is a huge issue for many of these families," Julie Bergsten, vice president of Slifer Smith & Frampton, told The WSJ. Seeking more Mexican buyers, the Colorado brokerage has created a Latin American division, traveling to Mexico and publishing a buying guide in Spanish for the first time.

 

Most of the cities that draw the largest percentage of international buyers are in Florida, but New York, Honolulu, Phoenix and Las Vegas are all in the top 10, according to a report by Inman News. A study released last year by the National Association of Realtors founds that 58% of international sales were in just four states: Florida, California, Texas and Arizona.

According to that study, Mexico was one of the top countries of origin of international buyers. Canadians buy the most U.S. real estate (23% of international transactions), followed by China (9%), then Mexico, the United Kingdom and India (7% each). Those five countries are responsible for 53% of U.S. sales to international buyers.

 

As has been traditional, both with immigration patterns and real-estate investment, Mexicans have followed relatives, friends and acquaintances to Vail.

Mexican entrepreneur Alejandro Marti moved his family to Vail and bought a bankrupt hotel that he turned into an upscale hotel-condo development that is a hub for Mexican culture and art. Since the Sebastian opened in 2011, about 40% of the condo units have been purchased by buyers from Mexico.

 

Mexico City lawyer Alex Martinez bought a $390,000 fractional ownership at the development after he heard that Marti was the developer. "He's a very well-known businessman, and whatever he does he puts his heart into it," Martinez told The WSJ.

 
182Comments
Dec 27, 2012 5:57AM
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i've got your 'world order' for the next i diot who suggests there is any conspiracy in the world other than you getting shafted unless you're rich and thats not a conspiracy 'cause it doesn't matter to them anymore if anyone is aware of that fact, that fact being even your own taxdollars instrumental in the 'shaft'
'
Dec 25, 2012 3:01AM
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do you realize the wealthiest man in the world is a "mexican", doh, who probably had his employes, each and everyone contracted with syphillis and tubercullosis, swim across the rio grand for christmas with texans
Dec 23, 2012 4:19PM
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how does this happen, its bought without conscience
Dec 23, 2012 4:17PM
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the problem, as we look at that, in america, then, is parents and admistrataors who will not act on simple problem solving solutions because they're too involved in divorces and elections of illegal aliens and unconcerned, if they havae their job, with the three or four jobs 20 million illegal aliens are stealing
Dec 23, 2012 4:14PM
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SO....all the usnews, msnnbc news, la times, etc, are blocking streams about  a reputation for being a smart and , if reticent, in other works, not an act up in school and leaving them and their original , gotta get rid of guns and profile for mental illness propensity in the garbage with the distributors of the medication he was on legally//propound the failed prognosis for combat weaponry with the not opposed fact that he merely walked into the school and could have been stopped at any time withy any sort of awaareness at the adult level of attendance....and you have several or a thousand insane parents and school administrators
Dec 23, 2012 3:08PM
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and by the way serei, since you do not appear to have assimilated into the mainstream of either mexico or the US, it is not a sign of prejudice, it is what was here when you showed up illegallyk, racism full tilt

Dec 23, 2012 10:10AM
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and the education you speak of you have not a glimmer of an ideation you think you picked up on methicun tv
Dec 23, 2012 10:09AM
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correctamundo senoras, senoritas, boy girl illegal prostitutes of methico, you monkeys, some of you have riden the rich here, many of them chinese, monkey, and otherwise, illicitly, and in the face of US code and doctrine except for the manifest the rich live by; and heres the point: dont care how hard you think you're work is and even if you can't see the bad economically and culturally that you incorporate into your illegal sojourn hee vastly outweighs the good, we're telling you here and now, there is no good in it, no discussion, the americans you don't know about because you're always hiding behind sombreros or your illegal employers want you gone and you are going one way or another
Dec 23, 2012 6:38AM
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I am a Mexican who owns a house at the mountains in Colorado since 2005. I got my education from The Wharton School in Pennsylvania in the early 90s and  have worked in Mexico building a Finacial Instution working 80 hour weeks since I got out of school. Today I employ more than 200 native americans in California and Ariizona and Texas as I expand banking operations into the USA. When I read your uninformed and uneducated comments here, all I think is about closing operations in the United States and leaving this 200 families out of a job and hiring hard working Latin Americans. I have paid taxes for my properties and bussiness in the USA always.

By the way, Drug Cartels would not exist if consumption in the USA would not be so large. We dont have a consumption problem in Mexico or any place in LatinAmerica as you people have here so WAKE UP and see reality.

Dec 22, 2012 10:09PM
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Yes, you guys are right those are not honest Mexicans, they are putting away the money thet they stole from their countrymen, We the real Mexicans are working everyday to feed our families and we are descriminated, in the meanwhile those thieves make the news, and they are welcome into this country..shame..!!
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dont forget, mexico is a multi race country just like the united states,people of all different colors and size,(mostly catholic, brouht to us by the immigrants from europe coming to the AMERICAS! our neighors could have been alot worse.
Dec 22, 2012 7:18PM
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Why do Mexicans put those really small diameter chain steering wheels on their cars?

 

So they can drive with handcuffs on...

 

Why do Mexicans buy expensive real estate in Vail Colorado?

 

Because otherwise all their drug money just sits around in boxes getting chewed on by ratas....

Dec 22, 2012 7:14PM
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There is a myth that everyone in the U.S is educated and upper class. from what i am reading a lot of these people probably couldn't find Mexico on a map. They probably cant find their way around their trailer parks when they are so high on meth. which seem to explain their resentment towards drug cartels. every country has its share of ignorant idiots and the U.S being the best country in the world is not exempt..
Dec 22, 2012 7:14PM
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I have never heard from so many idiots in my life..  And this is the very same thing we heard about

the Japanese buying properties in California in the 1960's...  Just where do you think they are going

to take the properties they are buying in Colorado???  Do you think they are going to load it up and

take it back to Mexico??  Do you think they are not going to pay taxes on it??  Why don't some of

you use your brains just once.......

Dec 22, 2012 7:09PM
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So many negative posts. I didn't know that many idiots knew how to use a computer.
Dec 22, 2012 6:48PM
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who is going to serve them in the restaurants  and hotels?
Dec 22, 2012 6:35PM
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heh heh there goes the neighborhood. oh well, drug lords need to ski, too.
Dec 22, 2012 6:28PM
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The ignorance of most of these posts is astonishing. Do you realize that the WEALTHIEST man in the WORLD is a Mexican? His name is Carlos Slim and owns TelMex, the communications company that has more cell towers in Mexico and Central and South America than AT&T, Verizon and TMobile COMBINED! No drug money, just a lot of hard work. Get off your self righteous high horse and realize that not all Mexicans are drug lords, in fact there are more in the U.S. than in Mexico. How do you think the Kennedys made all their money during Prohibition? 
And before I start getting hate mail on this, my family has been here since 1650. I am a Native Son and I love my country. But I hate seeing all of this xenophobic (google it) talk going on. 
Dec 22, 2012 6:17PM
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so not only can you remain in the united states as one of many poor destitute immigres looking for their next meal,, ho my god, but you can buy my poverty illegally in order to enrich the already reich who somehow skirt the same laws the immmigrants elude
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