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 22, 2012 6:47AM
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Wealthy mexicans? Can we say Cartels?
Dec 22, 2012 6:36AM
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We don't need anymore Mexicans  in the US - quite frankly, I can't think of anyone I know that likes Mexicans.........99% of the ones here are low-enders who are at the bottom 10% of the socio-economic scale. All they do is drag down society in American. Please go back home....where you belong!!!!
Dec 22, 2012 6:35AM
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I wonder if all the the people, making all these comments, live in the same Trailer Park !
Dec 22, 2012 6:33AM
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I HAVE SOME OIL STOCK I CAN TRADE THEM FOR THEIR "CLEANED" MONEY FROM OUR

DIRTY BANKS. (SICK WORLD) JR  

Dec 22, 2012 6:28AM
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To Willowvalley, sounds like your jealous that a bunch of mexicans are coming over to the US to buy up properties that you cant afford, Dont hate them cause they have money  to buy these houses. You know nothing about them calling them "low life mexicans with money", And to Someone (DavePeoria)  the US is corrupt just as much as Mexico, so we have no room to talk about corrupt governments.
Dec 22, 2012 6:18AM
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if i were pres for 1 term i would turn this country around and make it a wonderful place again i would clean house and have true americans in congress that love this country not whores that would sell there mothers for a vote
Dec 22, 2012 6:13AM
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Mexican developers like America because in their country everyone is corrupt. You can't buld a resort without a bribe to the contractor, the mayor, the city council, the cheif of police, the building inspector, the union leader, the state legislature, the governor and whoever has their hand out.  Plus if they bring their young wives and daughters here who have babies then they all get to stay because of the anchor baby. They just deported a drug cartel's daughter who was pregnant and waiting for her anchor baby to be born. But finally someone saw the scam and deported her.

When will we learn?

Dec 22, 2012 6:08AM
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almost nothing worse than a low life mexican with money
Dec 22, 2012 6:07AM
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mexico doesnt let none citizens own land the us should do the same but our politicians are all whores just like our pres.

Dec 22, 2012 5:58AM
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How many of these "Foreign(Mexican) Investors" are wealthy drug cartel kingpins, drug dealers, attorneys for drug cartel kingpins, drug dealers or terrorists or help to finance foreign terrorist organizations or may be terrorists themselves?

 

It seems that the U.S. does not care who or what they let into the U.S. as long as the wealthy/wealthiest U.S. individuals, businesses, corporations and even the leaders of the U.S. government do not care who or what is allowed to enter the U.S. as long as they are able to continue to pad their bank accounts and become even wealthier.

Dec 22, 2012 5:38AM
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Can't wait to see low riders in the ski country!!!!!! lmao
Dec 22, 2012 5:38AM
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     WHO YOU KIDDING?  THEIR WASHING MONEY.
Dec 22, 2012 5:31AM
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I like their food. Too bad they are spooked by catholicism. The Virgin Mary is BS.  The narco culture has become idolized by the young people, for lack of anyone else. Cruel SOB's. It will take a long time for science to change the minds of mexicans. They should join up with our Tea Party losers.
Dec 22, 2012 5:02AM
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wish they would invest in their own country and maybe alot of the illegals would go back.

they should be thrown out but not in this bleeding heart nation.

people are to stupid to realize when they are being taken for granted.

if you can read english go home **** and take your anchor babies with you

Dec 22, 2012 3:55AM
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great thats all we need more mexicans i guess the bleeding heart whores of this country dont care who buys as long as they get paid just like our politicians all whores
Dec 22, 2012 3:54AM
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And how many of their extended family comes with them?  Sounds like just one more way to get more illegals into the country...sick of them...they are everywhere. Let's hope they can at least speak English.
Dec 22, 2012 2:35AM
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To Victoria Brown (candlesbyvicki)

I hope there is beauty behind ignorance...

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Maybe they should take some of the illigals that are milking us try and take them to vail to support them with their own money
Dec 21, 2012 11:11PM
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Good. We need more rich people in the US.
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