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Cover: Palmilla; a Jack Nicklaus Signature Course
LORETO
LA PAZ
JACK NICKLAUS
BEST’s Top Architect of the Year
LORENA OCHOA
#1 Female Golfer plays Los Cabos
GARY PLAYER
Breaking Ground in Mexico
TOP 30 GOLF COURSES IN MEXICO 2009 - Birdies or Bunkers
BAJA SUR | ELEVEN WORLD CLASS CHAMPIONSHIP GOLF COURSES
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With one of the only swimmable beaches in Los Cabos, exquisitely appointed guest accommodations, renowned golf, world-class spa, gourmet restaurants and remarkable amenities, there’s little wonder this award-winning resort is setting new standards for luxury.
For a further glimpse into Hilton Los Cabos call 1 800 HILTONS or visit HiltonLosCabos.com. Inquire about our Fun-in-the-Sun Package that includes a $100 per day resort credit.
Š2009 Hilton Hospitality, Inc.
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Publisher’s Letter Dear Golf Amigos, This issue of BEST’s Golf Guide to Los Cabos has taken a swing for the BEST. We have made an effort to offer more stylistic pages with fascinating stories and up-to-date information on what is new in Golf in Mexico. Our Golf Directory offers the most current and comprehensive information for world golfers. Featured in this issue is Jack Nicklaus, named BEST’s Golf Course Architect in Mexico for the third consecutive year. Another highlight is Gary Player’s first golf course design in at CostaBaja Marina in La Paz set to open in 2010 with a special ground breaking ceremony attended by media, tourism and real estate VIPs. I attended a fantastic golf event hosted by AeroMexico at Cabo Real with Mexico’s darling of golf, number ONE ranked female golfer: LORENA OCHOA. She is truly amazing, very talented, warm and friendly - a very bright star in the world of golf. Our main feature article covers BEST’s Golf Top 30 list of resort and private golf courses in Mexico. The article showcases the latest information on the Los Cabos area, which
has the most top rated golf courses in Mexico. This year, as we continue in a challenging travel market, we will see some pricing reductions and added value: 4th or 7th night free incentives for the lower priced rooms and the mid-market. As for the luxury buyer, most five star and grand tourismo resorts are holding their own. Travel to Mexico now for the BEST value for Golf, Hotels and Real Estate. Many world-class golf resorts offer quality off-season value-priced packages, book online today at: www.best4golf.com or book guaranteed online tee times at: www.best4mexicoteetimes.com Remember; you can always view BEST’s Golf Guides to Mexico online, by visiting: www.golfguidetomexico.com/digital For more up-to-date information regarding golf and golf resorts in Mexico, go to: www.golfinmexico.net Grab a friend and head south for world class Golf in Mexico. Best Regards,
BEST’S GOLF GUIDE TO LOS CABOS 1540 South Coast Highway, # 206 Laguna Beach, California 92651 USA (949) 494-8561 • (949) 494-9292 fax www.golfinmexico.net PUBLISHER
Charles Kinder ASSOCIATE PUBLISHER
Fabiola Kinder ART DIRECTOR, DESIGN & PRODUCTION
Chris Partida EDITOR
Maria Ring SPECIAL THANKS TO:
Alejandro Aceves Jaime Alvarez del Castillo Enrique Castellanos Marta Cereghino Ralph Coster Carlos Hampe Sho Kaneko John Lara Jose Antonio Murillo Cayetana De Regil ADVERTISING SALES OFFICES USA
Eleanor Kreis (949) 494-8561 Cancún
Paola de Maria y Campos (984) 119-8766 Guadalajara
Andrés Castellanos (333) 640-1180 Los Cabos
Chuck Kinder, CTC Publisher
Ricardo Torres (624) 143-9093 Puerto Vallarta
Carlos Farias (322) 225-8158 OUR GRATITUDE TO: EVA EVANS, CREATIVE DIRECTOR
To advertise in Best’s Golf Guides, visit: www.golfguidetomexico.com GGLCWS09
Left to right: Jason Ballog - Director of Golf at One & Only Palmilla, with award for #2 Resort Golf Course. Chuck Kinder, CTC; Publisher of BEST'S Golf Guides to Mexico.
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BEST’S GOLF GUIDE TO LOS CABOS
Published semi-annually by Golf Publishing International, a California Corporation. All rights reserved. Reproduction in whole or in part is prohibited without written permission from Golf Publishing International. Every effort was made to insure the accuracy of the material presented. We are not responsible for any errors or omissions of data for golf courses, facilities, resorts or rates. Copyright 2009.
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Yucatan Village and Resort, Jaguar Course, Merida, Mexico
Cabo del Sol (Ocean Course), Los Cabos, Mexico
La Loma, San Luis Potosi, Mexico
Punta Mita Club de Golf, Pacifico Course, Punta Mita, Mexico
They Have a Name For Great Golf Courses.
www.nicklaus.com
NICKLAUS DESIGN 1 1 7 8 0 U . S . H I G H WAY O N E , S U I T E 5 0 0 N O RT H PA L M B E A C H , F L 3 3 4 0 8 USA +1 561-227-0300
NICKLAUS DESIGN LISBOA 176, COLONIA VERSALLES P U E R T O V A L L A R T A , J A L I S C O C . P. 4 8 3 1 0 MEXICO +52-322-225-46-00
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HEROES OF GOLF IN MEXICO by Charles Kinder
Mexico’s Oso Dorado
JACK NICKLAUS
WWW.BEST4MEXICOTEETIMES.COM
playability for amateur players and challenge for the better players; perhaps most importantly, how to maximize the economic impact of the golf component for the developer. Nicklaus blends all of these ideals together as pleasingly as how the desert meets the ocean in the Baja. By this summer, Nicklaus Design will have completed 18 golf courses throughout Mexico, matching the record number of major championships won by Jack Nicklaus in his illustrious tournament career, and thus cementing the Golden Bear’s playing legacy. With another 16 Nicklaus Design courses under development throughout the country, Oso Dorado (Spanish for Golden Bear) will cement his design legacy in Mexico. Golf has been good for Mr. Nicklaus and Mr. Nicklaus has been good for golf in Mexico.
Jim Mandeville/Nicklaus Design © 2009
Veni…Vidi...Vici…translated from Latin to Spanish to English, means Jack Nicklaus came to Mexico, saw the potential and conquered the golf course design market. Why else would Los Cabos be nick-named Nicklausville or Cabo San Nicklaus? It all started with a phone call in 1988 from Don Koll, President of Koll International and the proud owner of Palmilla, the old veteran hotel that is surrounded by thousands of acres of rolling desert hillsides, ideally suited for golf in a landscape only known for fishing. On the other end was Carlos Hampe, then director for the Minister of Tourism in Los Angeles. Asked by Koll what the Mexican Government could do to support his efforts to build a golf course in Los Cabos, Carlos, an avid golfer, was quick to respond "Let’s fly to Phoenix to look at the golf courses designed by Jack Nicklaus in the same type of desert climate, minus the beautiful blue of the Sea of Cortez that serves as the backdrop for Los Cabos." After the site inspection, the rest is history. Palmilla became the first Jack Nicklaus Signature Golf Course in Latin America, opened in 1993 with the 18 holes of the Arroyo and Mountain courses, and later the addition of the Ocean 9 in 1999. Palmilla’s creation spawned a second golf course in Los Cabos—another brainchild of Koll—the Ocean Course at Cabo del Sol. Shortly thereafter, Cabo del Sol became a staple in world rankings, and now the Ocean Course and Palmilla are rated the No. 1 and 2 resort courses, respectively, in Mexico. Jack Nicklaus has also designed the No. 1 private club in Mexico, also located in Los Cabos, at El Dorado Golf Club, now owned and managed by Discovery Land Company. Currently Los Cabos is rated in the top 15 golf destinations in the world, and Nicklaus has four of the top courses completed in Los Cabos, as well as one under construction at Puerto Los Cabos. Several more are on the drawing board. Some additional statistics from BEST’s “Top 30 Resort Courses” might be in order. Nicklaus Design has four of the top 10 listings, and seven of the top 20. BEST’s “Top Private Courses” includes four Nicklaus Design courses in its top 20 listings. Highly acclaimed, La Loma in San Luis Potosi, a design which included key input from his oldest son Jack II (President of Nicklaus Design) is BEST’s “Top New Private Golf Course 2008.” Nicklaus Design creations: Campestre San Jose, Mayan Puerto Peñasco and Asturiano Golf Club in Cuautla are the BEST’s “Top 3 New Resort Courses.” It should not come as any surprise that Jack Nicklaus has been voted BEST’s Top Golf Course Architect in Mexico. Mr. Nicklaus has a sixth sense for golf course design; understanding how to work in concert with the existing land; the importance of balancing
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LORENA OCHOA PLAYS CABO REAL
Torneo de GOLF AeroMexico
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AGUASCALIENTES DISTRITO FEDERAL GUANAJUATO HIDALGO MEXICO MORELOS QUERETARO DE ARTEAGA TLAXCALA
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TOP 30 Golf Courses in Mexico
Los Cabos - Mexican Riviera - Cancun/Riviera Maya - Baja/Sea of Cortez - Inland/Colonial Routes
GOLF IN MEXICO 2009 BIRDIES OR BUNKERS by Chuck Kinder
M
exico continues to maintain and develop new and wonderful championship sea-side links and inland golf course treasures for all to play. Currently over 100 billion dollars’ worth of golf-related resort and real estate development is taking place all around Mexico, making golf one of the fastest growing and most important segments of Mexico’s tourism and real estate industries. In the last quarter of 2008 alone, at least 20 new golf courses were under development, with some openings expected in the months to come. Recent surveys show Mexico continues to be the No. 1 destination outside of the continental United States for U.S. and Canadian golfers. This popularity is due in no small part to the fact that many of the top names in the world of golf course design, including Jack Nicklaus, Robert von Hagge, Greg Norman, Robert Trent Jones, Tom Fazio, Tom Doak, a couple of Dyes, Gary Player, Davis Love and a David Duval. With over 700,000 golfers traveling annually to play some of the BEST golf courses in the world, the 2009 question is: How will the world economic slowdown affect some or all of the positive growth which has taken place over the past 20 years, when championship golf first arrived in Los Cabos? From a bicultural, cross border point of view; golf in Mexico in 2009 will have unique opportunities and challenges for travel and tourism segments and real estate developments, both completed and at various building stages. Mexico, unlike its northern US neighbors, pays for its building materials and services in cash or with low leveraged loans. One can anticipate that most developments that were funded properly in the past will continue to offer value investment opportunities, while those seeking funding or that had been funded by troubled Wall Street type lenders will have challenging days ahead. The consumer looking for a golf vacation or a second home, or a home that is to become a primary residence during retirement will find a buyer’s market for any or all of their purchasing objectives. An interesting point of view regarding our economy is that on one day, at the end December 2008, 130 players paid $350 each to play Cabo del Sol Ocean course, while another 120 players enjoyed Cabo del Sol Desert course at the rate of $220. The conclusion is not so clear, except that the high end market has been less affected by the financial dilemma many are facing. An interesting observation is that Cabo del Sol, the No. 1 rated golf course in Mexico, most often compared with Pebble Beach and St. Andrews, is a “must play” no matter the cost. 10
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Chuck Kinder Panelist, Speaker, Writer Publisher/President Golf Publishing International
Eduardo Sanchez Navarro, general director of Questro Golf, Mexico’s number one golf course development group; with six courses in Mexico and a dominant presence in Los Cabos, stated: “Our goal is quality, consistency and professionalism.”
Grupo Questro’s Cabo Real Golf Course designed by Robert Trent Jones Jr.
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TOP 30 Golf Courses in Mexico
Los Cabos - Mexican Riviera - Cancun/Riviera Maya - Baja/Sea of Cortez - Inland/Colonial Routes Monte Carlo” of The good news is that Los Cabos has branded itself as the “M Mexico and that the carriage trade and timeshare owners continue to fill flights, despite the reduced air lift, to pursue golf and the lifestyle that Los Cabos and Mexico have to offer. A memorable moment in Mexico is brighter than staying at home. Wanderlust has become an ever increasing trait in those who experience a higher standard of living. Americans, for a long time, have been the world leader in travel expenditures, and Californians have been the best target market for golfers to Mexico. Los Cabos is “Newport Beach-South” for the 20 million West Coast golfers and travelers alike; whereas, the Yucatan Peninsula, consisting of the Riviera Maya, Cancun, Cozumel, Playa del Carmen, and Mérida has become the vacation spot for those on the East Coast. Most resort areas in Mexico are equally accessible from large, centrally located population centers like Texas and Illinois. All areas in Mexico have great new golf courses that are well positioned to welcome all types of golfers, those for which money is no object, and those seeking “Wal-Mart” specials. Many golf course and resort operators are hesitant to actually lower rates, but are rolling out the extra value carpet with free local transportation from hotel and course. Some are becoming more all-inclusive; meaning that all food and drink on the beverage cart or snack bar are included in the green fee. Early twilight rates, a few multi-tiered rates depending on the time of day, and potentially earlier low season rates beginning in May and extending to November, will become more widely seen. Oil prices affecting airfares will impact passenger arrival statistics in 2009, more than they have years past. Many third party websites offer travel deals. One of my favorites is: www.kayak.com, they have an E-model which offers information on airlines servicing your select departure and arrival city, and then directs you to the airlines with the lowest fare and their respective website for direct bookings. Each airline should be driving this type of research ability to help consumer, travel agents, and wholesalers play an important role in the travel reservation booking process. Another critical issue for 2009 travel to Mexico is the unrelenting reporting on a job well done by President Calderon’s efforts on Mexico’s war on drugs. The headlines blanket the whole of Mexico incorrectly, as the violence is mostly limited to the Northern border of Mexico and has not affected the resort corridors outside of the border areas. Most of Mexico continues to be a safe, secure, and a friendly place to travel.
Lo s Cabos has been the leader in the development of world-class golf in Mexico. This burgeoning resort area, located at the tip of the Baja California Peninsula, is ranked 14th in a listing of the 50 most popular golf destinations in the world. Los Cabos’ climate and setting are perfect, like Palm Springs or Phoenix, only better, as the stark desert landscape meets the cooling azure sea. A 20-mile stretch of coastline, including the two towns of Cabo San Lucas and San Jose del Cabo, Los Cabos is home to some of the world’s best oceanside courses. There are now five Nicklaus courses, including two signature courses open along the Los Cabos corridor. In 2007, the top-rated Cabo del Sol - Ocean course, ranked 88 in Golf Magazine’s top 100 courses in the world. The course boasts five oceanfront holes, including the “finest three finishing holes in golf,” according 12
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#1 Resort - Cabo del Sol Ocean Course
#1 Private - El Dorado Golf Course
The famous Palmilla Golf Course
1. CABO DEL SOL GOLF OCEAN 2. PALMILLA GOLF CLUB 3. EL TAMARINDO COUNTRY CLUB 4. FOUR SEASONS RESORT PUNTA MITA 5. VISTA VALLARTA NICKLAUS 6. ISLA NAVIDAD COUNTRY CLUB 7. EL CAMALEON MAYAKOBA 8. PLAYAS MUJERES 9. VISTA VALLARTA WEISKOPF 10. EL TIGRE PARADISE VILLAGE 11. MOON PALACE 12. CABO DEL SOL GOLF DESERT 13. FAIRMONT PIERRE MARQUES 14. IBEROSTAR PLAYA PARAISO GOLF CLUB 15. CABO REAL GOLF COURSE 16. COZUMEL COUNTRY CLUB 17. PLAYACAR CLUB DE GOLF 18. BAJAMAR 19. CAMPESTRE SAN JOSE del CABO 20. THE LINKS at LAS PALOMAS 21. FAIRMONT ACAPULCO PRINCESS 22. CABO SAN LUCAS COUNTRY CLUB 23. ESTRELLA DEL MAR GOLF COURSE 24. LAS HADAS, LA MANTARRAYA COURSE 25. MAYAN PALACE NUEVO VALLARTA 26. MARINA VALLARTA CLUB DE GOLF 27. CLUB DE GOLF PALMA REAL 28. CLUB DE GOLF MARINA IXTAPA 29. CLUB DE GOLF LOS FLAMINGOS 30. MAYAN PALACE RIVIERA MAYA
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TOP 30 Golf Courses in Mexico
Los Cabos - Mexican Riviera - Cancun/Riviera Maya - Baja/Sea of Cortez - Inland/Colonial Routes to its designer, Jack Nicklaus. Cabo del Sol hosted the 1995 and 1998 PGA Senior Slams, as well as Shell’s 1996 Wonderful World of Golf match featuring Le e Treviño and Jack Nicklaus. These made-for-TV events brought Los Cabos into the homes of millions of viewers, who then flocked to play golf south of the border. In 2001 Tom Weiskopf added the Desert course at Cabo del Sol. His masterful inland layout, featuring 180-degree views of the sea from nearly every hole, takes advantage of natural river washes, subtle changes in elevation and dramatic bunkering, as it weaves through lush desert landscape. Up the road, at the legendary On e & O nly P alm illa Re sort, you’ll find Nicklaus’ first signature course in Latin America, which opened in 1993, with 27 holes featuring the ocean, arroyo and mountain nines. This course is currently Best’s Golf Guide Top 30© No. 2 resort course in Mexico. In the middle of the Los Cabos corridor is Cabo Real, a master-planned golf resort featuring such deluxe hotels as the Westin Resort, The Marquis Los Cabos, Hilton Los Cabos, Melia Cabo Real, Dreams Los Cabos, as well as the ultra-luxurious Las Ventanas al Paraiso. Cabo Real boasts several courses in the area under the management of Questro Golf brand: the Cabo Real course by Robert Trent Jon e s II , and the newer, spectacular, oceanfront El Do rado Go lf C l ub by Jack Nicklaus, rated the No. 1 Private course by Best’s Golf Guide Top 30©. The latter is now a part of a private resort community under the management of the Discovery Land Group. Another of Los Cabos’ top private golf courses, Qu ere ncia opened in November 2000. This world-class, 18-hole course is Tom Fazio’s first signature course in Mexico, but certainly not his last. Querencia hosted Shell’s Wonderful World of Golf between Se rgio Garcia and P hil M icke ls on. An dre Bo ers ma, General Manager, brings a vast array of luxury hotel experience to this spectacular location with endless vistas of the Sea of Cortez perched overlooking the coastline of Los Cabos. “This is an exclusive residential community with a private gated club experience in Mexico,” he advises, “The residents and members enjoy a true sense of camaraderie, friendship and appreciation for the lifestyle and service offered. Award winning architectural design for homes and a sense of community set this private gated residential community apart for our 270 content members”. Minimalist, Gil Hanes, who mentored under Tom Doak, is working on Querencia’s second course. Closer to Cabo San Lucas is the C ab o San Lu cas Co un try Club designed by Ro y an d M att D ye. It features an open layout with a view to Land’s End, Los Cabos’ most photographed landmark. This is the location of Los Cabos G o lf Resorts for golf-focused guests who like the idea of owning a villa for a week or more on a golf course close to town. Another downtown resort favorite is the sophisticated ME by Melia and its Nikki Beach Club, a great bachelor and bachelorette party hangout in Los Cabos. At the opposite end of the corridor, is the Punta Sur Golf Course Los Cabos in S an Jos e del C abo with nine very playable holes, pleasantly priced at a little over $100 USD for a round of 18 holes. Next door is the Best’s Go lf Guide Top 30© NE W Re so rt cou rs e fo r 2008, a wonderful Nicklaus design called C l ub Campestre San Jo se, inland of the corridor road, near the new toll road from the airport. A new pair of nine-hole courses at Puerto Los Cabos, one by Greg Norman, the other by Jack Nicklaus, are in the running for the Best’s Golf Guide Top 30© NEW Resort Course for 2009. Eight more signature courses are on the drawing board, including designs at 14
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CABO & BAJA SUR
Rated number three of all private golf courses in Mexico is Querencia, which opened in November 2000. This world class 18-hole course is Tom Fazio’s first signature course in Mexico. Andre Boersma, General Manager brings a vast array of luxury hotel experience to this spectacular location perched over the Los Cabos coastline with endless vistas of the Sea of Cortez.
Querencia Golf Club Private, 18-holes by Tom Fazio
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TOP 30 Golf Courses in Mexico
Los Cabos - Mexican Riviera - Cancun/Riviera Maya - Baja/Sea of Cortez - Inland/Colonial Routes Qu ivira G olf Cl u b, originally conceived as Cabo P acifica by Jack Nicklaus and owned by legendary developer Ernesto “Netto” Coppell. Acknowledged for his role in turning Los Cabos into a world-class resort destination, Netto runs Pueblo Bonito, Resorts, the most successful timeshare development company in México. He is now expanding on the P acific side near P u eblo Bon ito S u ns et Resort with two new Jack Nicklaus Signature golf courses, one private and the other semi-private. The Quivira master plan calls for a 1,850-acre community. The courses will have eight oceanfront golf holes, and almost all of the remaining ten will have ocean views. The dramatic location of several oceanfront holes on the cliffs and the expansive dunes will create an effect of Ban do n Du ne s meets P ebble Be ach. The courses will break ground in 2009. Recently it was announced that the Ritz- Carl ton will establish a 200-room hotel and Jack Nicklaus will partner in this project. Chileno Bay is underway with the first of two Tom Fazio Golf Courses being constructed by Diamond Construction Company. “Chileno Bay is one of the grandest of all…a family sanctuary…enchanting”, according to managing director Gonzalo Franyutti. This property, the former Hotel Cabo San Lucas exuding with potential, has one of the best beachfronts in Los Cabos.” This project will have “Midas Touch” king, Discovery Land, as its partner. You can plan on there being another success story here. Two world class courses are in line to compete for Mexico’s best courses, both by Tom Fazio. Watch for signs of life from Diam an te Go lf C ou rse by Davis Love and Phil Mickelson, and the Freddie Couples designed Montage Resort Course located at the former site of the old Twin Dolphins. All of these new courses will continue to help Los Cabos regain the lead for golf in Mexico. During this winter and spring season, special deals are available in Los Cabos, with advanced tee time reservations. Check out current rates and information via the Internet at www.best4mexicoteetimes.com. You will want to drive up and down the coast at your leisure to make the most of your golf vacation, so it’s a good idea to rent a car. For accommodations, golf, and restaurants located along the Los Cabos corridor, and most often compared to Newport Beach, expect to pay premium prices. After all, you are in a most beautiful adult fantasy land.
Todos Santos, a sleepy artist town and an oasis on the Baja map just north from Los Cabos, is getting ready to join the golf scene. Arthur Hills is working on his second course in the Baja, at Punta Lobos, (“Sea Lion Point”) which will occupy more than 1,800 acres of seaside property owned by the S anta A na Family, stewards of this land since 1803. Two golf courses, hotels, residences, and marina associated with the project will be built on coastal terrain made verdant by arroyos that channel fresh water from the S ierra de La Lagu na Mo untain s. Also slated for development is Maravilla Reso rt, with a spa, golf course, swimmable beach, and villas in an oasis of over 900 acres of plush palm trees. Its championship golf is designed by Clive Clark, of Indian Wells fame. Paraiso del Mar, located less than an hour up the coast from Todos Santos, on a peninsula across the Bay of La Paz, boasts Arthu r Hills ’ first championship course in Mexico. The developers have an agenda of sustainable living, which only include golf carts as means of transportation within the community, and ferry service to the beautiful portside state capital, La Paz. High demand calls for full build-out of 290 single story casitas and 400 condo villas. 16
BEST’S GOLF GUIDE TO LOS CABOS
“Quivira will be the leading luxury residential resort community in Mexico, and with Jack Nicklaus on board, we are ready to build the best golf courses in North America,” said Ernesto Coppel, developer of Quivira. “We have a unique property on which to create a legendary golf experience, and Nicklaus, the perfect partner to accomplish it.”
Puerto Los Cabos Hole 5 by Jack Nicklaus
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TOP 30 Golf Courses in Mexico
Los Cabos - Mexican Riviera - Cancun/Riviera Maya - Baja/Sea of Cortez - Inland/Colonial Routes Across the bay, is the 500 acre seaside development of CostaBaja Resort & Marina. Full ownership condos and villas on the waterfront or with golf course view can be purchased. This is a project conceived in the ivory towers of Mexico City-based Grupo Concord and will be the first in Mexico to have a Gary Player Signature designed golf course. Its ceremonially ground breaking in January puts golfers on the ready by early 2010. The 18 holes layout will start from the perched view overlooking CostaBaja and the Bay of La Paz, and wander down to the marina, beach, and the crystal clear water. The Concord Group has teamed up with Prudential Real Estate Investors. Both have dedicated their commitment to preserve, enhance, and protect the area’s natural wonders as well as support the Mexican Foundation for Environmental Education. CostaBaja Resort & Marina will be one of the most sought after addresses in Mexico with units starting at $300,000. The team of Schmidt & Curley is moving forward with an 18-hole design plus a shorter course called IRONS for seniors at Maravia. This is a 5,000- acres project with views to the Sea of Cortez. All homes are to include solar power. Azul de Cortes, a Spanish master plan with an interesting 18-hole hillside golf course designed by von Hagge, Smelik and Barril incorporates vistas and the natural environment of the existing landscape. Perhaps one of the hidden treasures of golf will be the Tom Doak minimalist design championship course, with ocean views from 15 of the holes, at Bahía de lo s S ueños proudly boast the first Doak golf course in Mexico. Bahía de los Sueños, or in English Bay of Dreams, is 45 minutes south of La Paz, located on 4,000 acres with its own private landing strip ready to handle most corporate jets at this Seven Star residential resort. With a very swimmable bay, this will be one of Mexico’s most sought after golf course resorts and high-end residential complex. The Doak routing is completed, dirt has been moved, the front nine has been hydro-seeded with Paspalum grass, home sites have been sold and some first phase buildings completed. Fourteen homes have been completed some with over 30,000 square feet. On site you can enjoy tacos and beers at the bayside El Cardon restaurant or have an elegant dinner or California casual feast in the “TTrain Room”; unique in all the world! Three and a half hours up the coast along the Sea of Cortez at the Villages of Lo reto Bay, is a successful project now under the watchful eye of Citibank and the Replay Gro up. Approximately 900 homes have been sold, more than 175 families have moved in, and 600 villas under construction. This Loreto Bay project will have the first David Du val golf course in Mexico. This is a redo of the existing FONATUR golf course that has incredible scenic value, and it is now a quality, 18-hole layout with major investments in shaping, design and infrastructure. The back nine includes a spectacular 14th hole par three, which is now open for play. The front nine is scheduled for completion around April. Alfre do Ros as, General Manager of the In n at Lo re to offers an unlimited golf package during the first opening phase of Loreto Bay golf. A JW Marriott hotel is scheduled for construction in Loreto, as well as a resort project from the Villa Group, famous for their successful Villa La Estancia in Los Cabos, Nuevo Vallarta and Cancun. The future of golf in the Baja looks bright with all of these spectacular courses and a host of new developments on the East Cape; all the more reason to visit and invest in the state of Baja California Sur, Mexico.
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BEST’S GOLF GUIDE TO LOS CABOS
CostaBaja Resort & Marina Gary Player Signature Golf Course to open in 2010.
Loreto Bay Golf Course by David Duval Inset: 14th hole, par 3
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Golf Communities
IN MEXICO Directory of
BAJA CALIFORNIA SUR
Cabo Azul
San Jose del Cabo, BCS US: 1 (877) 216-2226 MX: 01(624)163-5100 www.caboazulresort.com Fantastic time share experience.
Cabo Real Golf Club
Club Campestre San Jose
CostaBaja Resort & Marina
Diamante Cabo San Lucas
El Encanto de la Laguna
Puerto Los Cabos Golf Club
Punta Ballena, Palmilla
Querencia
Quivira
Villas de Oro, Palmilla, Rental
Villas del Mar, Palmilla
Villa La Estancia
The Villages at Loreto Bay
Cabo San Lucas, BCS US: 1 (877)795-8727 MX: 1 (800) 543-2044 www.caboreal.com Robert Trent Jones II golf course.
Cabo San Lucas, BCS US: 1 (702) 435-6222 www.diamantelife.com Davis Love III designed dunes golf & Phil Mickelson oasis golf course.
US: 1 (877) 795-8727 MX: 1 (800) 543-2044 www.clubcampestresanjose.com Nicklaus Design 18 hole golf course.
San Jose del Cabo, BCS US: 1 (949) 582-0004 x105 MX: 01(624)105-8858 www.elencantoloscabos.net
San Jose del Cabo, BCS US: 1 (888) 463-2816 www.puntaballena.com
Cabo San Lucas, BCS US: 1 (866) 578-4847 www.quiviraloscabos.com
Cabo San Lucas, BCS US: 1 (866) 843-7005 www.villalaestancia.com
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BEST’S GOLF GUIDE TO LOS CABOS
Phyllis Rockower San Jose del Cabo, BCS www.PalmillaLuxuryCondos.com Limited Luxury Rental Opportunity
La Paz, BCS US: 1 (866) 409-9940 MX: 01 (612)121-6226 www.costabajaresort.com Gary Player’s first course in Mexico.
Cabo San Lucas, BCS US: 011 52 (624) 146-9656 www.puertoloscabos.com Greg Norman Signature course & Jack Nicklaus Signature course.
San Jose del Cabo, BCS US: 1 (888) 236-2229 MX: 01 (624) 145-6600 www.loscabosquerencia.com Tom Fazio designed golf course.
San Jose del Cabo, BCS US: 1 (888) 348-3221 www.villasdelmar.com
Loreto, BCS US: 1 (866) 956-7386 MX: 01 (551)285-2597 www.loretobay.com
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CONGRATULATIONS to MR. GARY PLAYER
N I
on breaking ground at the new
COSTABAJA RESORT & MARINA GOLF COURSE LA PAZ, MEXICO
from your friends at:
W B w m s
GP_Ad
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Now known as the Golf of Mexico. Introducing the first and only Gary Player Signature Course in the country.
Why did Gary Player choose CostaBaja? Because CostaBaja is like no other destination on Earth. Minutes from the town of La Paz, CostaBaja will share its natural landscape with 18 holes of integrated design and beauty, created by The Black Knight himself. Virtually every vantage point will have a magnificent view of the Sea of Cortez, home to one of the greatest marine reserves in the world, and CostaBaja’s own private state-of-the-art marina. Phase II construction is well underway. And we won’t stop until you’re lining up a shot at a whole new way of life.
usa mexico
GP_Ad_final 2.indd 1
866-409-9940 612-121-6226
www.costabajaresort.com
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San Diego
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U N I T E D S TAT E S
CABO SAN LUCAS COUNTRY CLUB Tijuana
Yuma
Mexicali
Fort Worth
THE BEST 18-HOLE RATES AND VALUE IN LOS CABOS El Paso
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Ciudad Juarez
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Once on the outskirt of a small fishing village, Los San Quintin
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course, provide a wateryRilanding for wayward balls. Houston CHIHUAHUA oG Ri ra everything Cabos has exponentially expanded its population of full Hermosillo From the black tips you need o B in your bag to nd San Antonio e ra G Isla vo and part time residents, tourists Cedros and investors. Its inter- cover the required 7,220 yards with a heartpumping Rosarito Chihuahua national acclaim, compounded through “buzz” net- Guaymas rating of 75.4. Mere mortals can play from the more Delicias COAHUILA DE ZARAGOZA works and wide media coverage of its golf courses and enjoyable white tees at 6,603 yards with a more realistic y r r Ciudad Obregon fe Laredo Corpus Santa Nuevo Laredo championship tournaments, certainly has had an 72.1 rating. Hidalgo Christi Rosalia del Parral MonclovaCabo San Lucas impact on its growth. All Bermuda from tee to green, Rio V erde One of the first golf courses in Los Country Club hasMEXICO the feel NUEVO of a target Brownsville Escollus LEON Loreto BAJA Reynosa Los Mochis Cabos, Cabo San Lucas Country Alijos Club, hasCALIFORNIA a courseGomez while having wide open landing Matamoros Palacio Monterrey SUR Torreon grand history. Ed Reisdorf, having purareas.DURANGO The plush greensSaltillo roll true and have Culiacan a natural break towards the ever present chased it with ambitious vision in 1992, La Paz TAMAULIPAS Durango ZACATECAS had to delay the grand opening to 1994 Sea of Cortez. Ciudad SINALOA after a disastrous storm. Still under the The par 5, 7th hole, a highlight feature Victoria SAN LUIS Mazatlan guidance of Ed Reisdorf, today Cabo San of the course, is claimed POTOSI to be one of the Ciudad Mante Zacatecas San Luis 610 N full ORTH Lucas Country Club is operating in longest holes in Mexico, measuring Tampico Potosi NAYARIT 1 Ciudad Madero ACIFIC swing, a retreat amidst the bustlingPtown yards. The course is managed PGA proRby Aguascalientes i o ISLAS Ve rde Location Los Cabos CEAN TRES of Cabo San Lucas, where it enjoys aO fabufessional who can be VERACRUZTepic Eric Grindereng, Guanajuato LLAVE MARIAS Course 18 holes, Roy & 7 4 lous view of Land’s End. reached at egrindereng@pga.com Leon 3 Queretaro Poza Rica Puerto Vallarta Irapuato Matt Dye design Cabo San Lucas Country Club’s original On Guadalajara site lodging is provided by Los Celaya Pachuca ISLAS JALISCO Tulancingo Contact (888) 298-1132 nine was designed by Roy Dye, brother of Cabos Resort, a series Zamora of Spanish5hacienREVILLAGIGEDO Jalapa Mexico Texcoco Morelia 8 www.golfincabo.com Veracru Pete Dye, and completed by Roy’s son das that combine intimacy Colima the charm and Tlaxcala Toluca 2 MICHOACAN Cuernavaca Cordoba Matt Dye, a second generation golf course of colonial MexicoDEand luxurious ameniManzanillo OCAMPO Puebla Orizaba 6 COLIMA Coatzac PUEBLA Rio architect. On a fantastic piece of relaties of a world class resort. Units Bals are availas Int M Lazaro e tively flat land with a slight slope from the back side able for timeshare purchase or for rent; stay and play r-A Chilpancingo me Cardenas ric a downward to the direction of the ocean, Cabo San Lucas packages offer great value. Cabo San Lucas Country nH igh Oaxaca wa y Country Club offers a variety of views of the mountain- Club has the best 18-hole rates and valueAcapulco in LosGUERRERO Cabos. OAXACA Salina Cruz ous desert with groves of magnificent Palo Blanco trees Current golf rates, which are subject to change without G and stately cardon cacti that stand guard over the notice, range from $95.00 to $185.00 in the winter and Te course’s expansive fairways. Nine refreshing but subtly $79.00 to $119.00 in the summer. All rates include 1. AGUASCALIENTES menacing lakes, sprinkled throughout the desert shared cart, practice facilities, and bottled water. 2. DISTRITO FEDERAL BAJA CALIFORNIA
of
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ez
3. 4. 5. 6. 7. 8.
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BEST’S GOLF GUIDE TO LOS CABOS
GUANAJUATO HIDALGO MEXICO MORELOS QUERETARO DE ARTEAGA TLAXCALA
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Mexico Real Estate
A WORD FOR THE WISE - A 250 YEAR LESSON by Bruce D. Greenberg
“We are taxed twice as much by our idleness, three times as much by our pride, and four times as much by our folly.” These famous words were written by a scientist, an inventor, a printer, a philosopher, a musician, a statesman and an economist; Benjamin Franklin. This honored Founding Father of the Americas stated, “God helps those who help themselves”; words of wisdom appropriately written for today’s business environment as we struggle to maximize profit. In this current cycle, it is imperative that we work to maximize our profits. Benjamin Franklin understood this 250-years ago when he wrote the guide of how to succeed in business titled “The Way to Wealth”. In 1758, 18-years prior to the signing of the declaration of independence, Mr. Franklin knew how to guide us through these unfamiliar economic times of today. As we enter into 2009 we are filled with more questions and uncertainty each day. Mr. Franklin’s book provides inspiration and sets forth a strong work ethic. From a real estate perspective, I believe Benjamin Franklin would agree it is necessary for a real estate developer to comprehend the Basic Principles of Real Estate. I have paired these seven basic principles with quotes from Franklin’s “The Way to Wealth”. Supply and Demand: “Buy what you do not need and soon you will sell your necessities.” Anticipation and Change: “Beware of little expenses.” Competition: “Fools make feasts, and wise men eat them.”
Contribution: “Always taking out of the pot and never putting in, one soon comes to the bottom.” Balance: “A small leak will sink a great ship.” Conformity: “Silks and satins and scarlet’s and velvet’s put out the kitchen fire.” Externalities: “If you want to know the value of money, go and try to borrow some.” Franklin also taught in his writings, “with our industry we must likewise be steady, settled and careful.” Information during these economic times is critical to the accomplishment of a successful project. “The eye of the master will do more work than both his hands.” Product reviews are key to survival in a slow recessionary market. “Keep thy shop and thy shop will keep you.” Understanding the project in and out, and performing professional market studies, feasibility studies, competition analysis, pricing analysis and product analysis is more important today than ever before. Montaña Verde is committed to providing the developer and lending communities with recovery plan services and assisting in maximizing the stakeholder’s recovery during these difficult times. Benjamin Franklin concludes his doctrine stating, “Those who cannot be counseled cannot be helped.” As we enter into 2009, remember the lessons of Benjamin Franklin: 1) Work hard and be smart; 2) Work hard with care and surround yourself with information; 3) Be frugal, analyze and test your project; and 4) Have the knowledge to make the right decisions.
Bruce D. Greenberg, MAI, SRA, ASA is the principal consultant/appraiser for Bruce D. Greenberg, Incorporated in Tucson, Arizona and Valuacioñes Montaña Verde, S.A. de C.V. Mr. Greenberg serves as a Bi-National Director of the United States-Mexico Chamber of Commerce and on the Executive Committee for both California and Arizona Chapters. Mr. Greenberg is an active participant in the ULI ñ Mexico district. Mr. Greenberg was selected in 1999, by former Arizona Governor Jane D. Hull, as a member of her task force addressing consumer guidelines in the acquisition of real estate in Sonora. Governor Janet Napolitano in 2003 asked Mr. Greenberg to serve on the Real Estate Ad-hoc Committee under the auspices of the Arizona-Mexico Commission. He has been a member of the Financial, Business and Legal Services Committee of the Arizona-Mexico Commission and a member of the National Law Center of Inter-American Free Trade for the past 10 years. He is an active member of the Asociacion Mexicana de Profesionales Inmobiliarios, A.C. (AMPI) of Los Cabos, Puerto Vallarta/Nayarit and Puerto Peñasco sections and is also a member of the Multi List organizations of Los Cabos, Puerto Vallarta and Puerto Peñasco. Mr. Greenberg can be reached at (520) 750-8200, fax (520) 750-8298, e-mail bgreenberg@brucedgreenberginc.com or visit the web page at www.mexicovaluations.com
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MEXICO REAL ESTATE SHOWCASE Tee off in your backyard
- Los Cabos, Baja California Sur -
Relaxation...
Cabo Azul Resort & Spa Experience everything luxury resort living should be when you choose Cabo Azul Resort & Spa. Luxury has never felt so good, relaxation has never been more rejuvenating, nor recreational activities more exciting than at the beautiful Cabo Azul Resort. First-class villa accoutrements, a variety of dining options, an immensely indulgent spa and unparalleled wedding services are all available at this idyllic location. Featuring Javier’s Cantina & Grill; a famed Orange County, CA hot-spot. www.CaboAzulResort.com
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Orange County’s favorite Mexican restaurant. Now open at Cabo Azul Resort. Enjoy the finest regionally influenced Mexican cuisine in a stunning new resort environment.
Other Locations
JAVIER’S Crystal Cove
JAVIER’S at CABO AZUL Hours 9am - 10pm Phone 624-163-5100 Paseo Malecon S/N, Lote 11 Fonatur San Jose del Cabo
JAVIER’S Irvine Spectrum
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Restaurants of Los Cabos
Bar and Grill on the Beach
Indoor-outdoor dining... moonlight dancing on the beach. Mesquite grilled Black Angus steaks, chicken, shrimp, prime rib, BBQ ribs, hamburgers... plus traditional Mexican dishes. Satellite T.V. sporting events.
Costa Azul Km 28.5 San Jose del Cabo
AZUL m 00 N,
o
um
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Los Cabos Directory
AIRLINES
BEAUTY, MASSAGE & SPA FACILITY
Aeromexico 01 800 021 4050 MX Toll free (800) 237-6639 US Toll free www.aeromexico.com
Alaska Airlines 01 800 426-0333 MX Toll free (800) 252-7522 US Toll free www.alaskaair.com
American Airlines 01 800 904-6000 MX Toll free (800) 433-7300 US Toll free www.aa.com
Continental Airlines 01 800 900 5000 MX Toll free (800) 523-3273 US Toll free www.continental.com
Mexicana Airlines 01 800 801-2030 MX Toll free (800) 531-7921 US Toll free www.mexicana.com
Carr. Transpeninsular Km. 19.5 011 52 (624)145-6500 (800) 445-8667 Toll free www.hiltonloscabos.com
Massages – Chiropractor Manicure – Pedicure – Hair Cuts 011 52 (624) 151-2396 Carretera Transpeninsular Parking Interior of Zippers Rest
DESTINATION MANAGEMENT
JEWELRY
Excelencia in Golf 011 52 (624)104-3153 Km 6 Transpeninsula Hwy Local #9 Interior Plaza Commercial Del Rey Cabo San Lucas
GOLF/ TRAVEL RESERVATIONS
Rolex/ Chopard Ultrajewels Grupo Ultrafemme 011 52 (624) 145-6094 www.ultrafemme.com.mx
REAL ESTATE Fabiola Kinder (949) 246-2327 From US
BEST4GOLF Travel Packages
Baja Developer’s Land (619) 925-6073 (866) 648-2666 Toll free
GOLF MERCHANDISE
Call today to book your dream vacation to Mexico. (888) 867-6148 Toll free (949) 494-8561 Direct (949) 494-9292 Fax www.best4golf.com www.golfinmexico.net
Club Car Golf Carts
Best4MexicoTeeTimes.com
www.costabajaresort.com
IMC - Grupo Intermar Blvd., Mauricio Castro s/n San Jose del Cabo 011 52 (624) 142-2821
(954) 272-6182 www.clubcar.com
Cabo San Lucas 011 52 (624) 144-3232
011 52 (624) 144-0000 (800) 336-3542 Toll free www.solmelia.com
National Car Rental
San Jose del Cabo 011 52 (624) 142-2424 (877) 567-3572 Toll free www.nationalcar.com.mx
Ruth’s Chris Steak House
Melia Cabo Real
CAR RENTAL
National Car Rental
Italian Dining Cabo San Lucas location: 011 52 (624) 143-4122 San Jose del Cabo location: 011 52 (624) 147-6621
Hilton Los Cabos Beach & Golf Resort
Sra. Carmen
Cabo San Lucas 011 52 (624) 143-1414 (877) 567-3572 Toll free www.nationalcar.com.mx
La Dolce
HOTELS
Zipper’s Bar & Grille Prudential Cabo Gold Division Matamores Int. Posada El Marlin 011 52 (624) 143 4626 CaboGold@CaboNet.net.mx www.PruCaboGold.com
011 52 (624) 122-1522
Nita Bryson 011 52 624 141 6632 www.homesinloscabos.com
Solmar SportFishing
Snell Real Estate (888) 713-5183 Toll free www.SnellRealEstate.com
011 52 (624) 143-0646 (800) 344-3349 Toll free CABORESORT@aol.com www.solmar.com
RESTAURANTS
CostaBaja Resort & Marina
Damiana
Kilometre 7.5 Carretera a Pichilingue, La Paz (866) 899-7567 Toll free
Town Plaza, San Jose del Cabo 011 52 (624) 142-0499
www.best4mexicoteetimes.com
SPORT FISHING Ricco Torres
Prudential/Cabo Gold
reyna@bajadevelopersland.com
Advance tee times in Mexico
On the beach, Satellite TV, Sporting Events San Jose del Cabo 011 52 (624) 142-1795
Javier’s Cabo Azul, San Jose del Cabo 011 52 (624) 142-0499
BAJA SUR GOLF COURSE DIRECTORY STATE
TELEPHONE
Paraiso del Mar (R) El Mogote Loreto Bay Golf Course (D) Blvd. Mision San Ignacio s/n 12 Cabo del Sol Golf, Desert (R) Carr. Transpeninsular KM 7.5 Cabo San Lucas 1 Cabo del Sol Golf, Ocean (R) Carr. Transpeninsular KM 7.5 Cabo San Lucas 22 Cabo San Lucas Country Club (R) Lazaro Cardenas s/n 15 Cabo Real Golf Course (R) KM 19.5 Transpenin. San Jose del Cabo 19 Club Campestre San Jose (R) KM 119 Libramiento Aeropuerto SJC 1 El Dorado Golf Course (P) Carr. San Lucas - San Jose KM 22.5 2 Palmilla Golf Resort (R) Carr. Transpeninsular KM 7.5 Puerto Los Cabos (R) Paseso de los Pescadores Punta Sur Golf Course Los Cabos (D) Paseo Fenisterra #1 3 Querencia Country Club (P) Carr. Transpeninsular KM 27.5 DIRECTORY KEY (R) = Resort Course
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(P) = Private Course
BEST’S GOLF GUIDE TO LOS CABOS
CITY
(888) 789-4975
La Paz
(613) 133-0788
Loreto
(624) 145-8200
Los Cabos
(624) 145-8200
Los Cabos
(624) 143-4653
Los Cabos
(624) 144-0243
Los Cabos
(624) 142-5327
Los Cabos
(877) 795-8727
Los Cabos
(624) 144-5250
Los Cabos
(624) 146-9656
Los Cabos
(624) 142-0905
Los Cabos
(624) 145-6600
Los Cabos
(SP) = Semi-Private Course
HOLES
(D) = Daily Fee
PAR
RATING CHAMP
MEN
WOMEN CARTS CADDIES WKDAYS WKEND
18 N/A N/A N/A N/A N/A N/A N/A Arthur Hills design. 18 72 71.5 6800 6400 5497 Y Y David Duval design, with an outstanding 14th hole. 18 72 69.6 6698 6252 6252 Y N Tom Weiskopf design. Desert course with ocean views. 18 72 74.3 7053 6238 4980 Y N Jack Nicklaus design with 5 oceanfront holes. 18 72 73.0 7220 6603 5302 Y N Roy Dye design with view of Land’s End. 18 72 74.1 6945 6437 5068 Y N Robert Trent Jones Jr. design. Site of ‘96 & ’99 Senior Slam. 18 N/A N/A N/A N/A N/A N/A N/A Jack Nicklaus design 18 72 74.7 7050 6476 4855 Y Y Jack Nicklaus design. Seven holes on the ocean. 27 72 72.2 6939 6130 4858 Y N Jack Nicklaus design. Site for the ‘97 Senior Slam. 18 73 N/A N/A N/A N/A N/A N/A Jack Nicklaus and Greg Norman design, 9 holes each. 9 70 72.0 6306 5404 5840 Y N M. Schjetnan/Joe Finger design. Delightful ocean view course. 18 72 74.5 7070 6624 5092 Y N Tom Fazio Design. Host of SHELL’s Wonderful World of Golf (L) = Low Season
(H) = High Season
N/A
N/A
$60
$60
(L) $185 (H) $245 (L) $250 (H) $375 $204
(L) $185 (H) $245 (L) $250 (H) $375 $204
$280
$280
$220
$220
Members Only $250
$250
$195
$195
$63
$63
Members Only
1 = TOP 30 Private Course ranking 1 = TOP 30 Resort Course ranking
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Your Mexico Real Estate Connection
BUYING REAL ESTATE IN MEXICO by Fabiola Thébaud - Kinder
ARE YOU CONSIDERING A RETIREMENT OR VACATION HOME? Mexico’s close proximity to the U.S. is a great benefit to the vacationer or retiree. The lower cost of living, availability of quality resort homes at lower prices compared with the U.S., and topnotch medical facilities make living in Mexico more attractive. There are many flights that can get you to destinations such as Cabo and Puerto Vallarta in less than two hours. Destinations such as Manzanillo are attracting more flights. One can also find beautiful resort property within a two-hour drive from San Diego.
WHAT TYPES OF OWNERSHIP CAN A FOREIGNER HAVE IN MEXICO, AND WHAT IS THE ACQUISITION PROCESS? On the Mexican mainland, a foreigner can purchase property fee simple (direct deed); except when the property is located in the restricted zone: 50 kilometers (31 miles) from the shoreline or 100 kilometers (62.5 miles) from the borders. Residential properties located in all of the Baja Peninsula, and coastal and border areas within the restricted zone, may only be acquired through a Mexican Bank Trust called a Fideicomiso. The bank, for an annual service fee of $300-$400, serves as a trustee, which holds the legal title to the property for up to 50 years. The cost for the permit to establish a bank trust is less than $1,000 USD. To purchase through a Fideicomiso, a foreigner must first register at the Secretariat de Relationes Exteriores for a permit to establish the trust. Upon receipt of the permit, the trustee bank sends instructions to a Notario (a governor appointed attorney), who prepares the deed (Escritura) to the beneficial rights. Applicable taxes are paid (2% of purchase price), then the deed is recorded in the local municipality. The foreigner, as a beneficiary of the Fideicomiso, has the right to use, improve, lease, sell, mortgage, and will the property. Should you die, your estate becomes the beneficiary. Also a second beneficiary to the trust can be named on a Fideicomiso to avoid probate. Upon expiration, a Fideicomiso may be extended indefinitely in 50-year periods when one pays the renewal fee. After 100 years, the property remains yours, but a new trust must be created.
Commercial or non-residential property in the restricted zone can be purchased fee simple with 100% foreign capital as a Mexican corporation, without the need for a Fideicomiso, but going through an application process through the Secretariat de Relationes Exteriores. Escrow arrangements in Mexico do not typically exist as in the US. Some American-based real estate companies work with a hybrid type of escrow, incorporating the closing customs of Mexico and California for U.S.-based buyers. Fabiola Thébaud-Kinder has close working relationships with the most professional, bilingual notarios to better serve her clients.
WHERE CAN WE FIND FINANCING TO PURCHASE HOMES IN MEXICO? In Mexico most residential real estate is purchased on a cash basis. Financing of homes in Mexico has been customarily done through a home equity loan on a U.S. buyer’s primary residence. Developers usually offer some type of financing and some will carry back a portion of the note. Mexican banks and finance companies have begun to offer loans to foreigners. U.S.-based mortgage companies are offering long term, fixed rate financing with as little as 20-30% down.
SHOULD WE BUY A TITLE INSURANCE POLICY? Absolutely! Questions of title may be resolved through the title company rather than through the Mexican Courts. In the US things may go wrong with title, and in Mexico as well, so it is prudent to get a title policy. The Title insurance policy issued for Mexico is 99% similar to an ALTA policy. There are differences in the law and the language, i.e. there is no Spanish equivalent of “marketability.” Ejido rights and agricultural reform have a part in the Mexican policy. In addition, in Mexico, mineral rights belong to the federal government, not to the owner of the land. First American Title Corporation, Stewart Title, and Fidelity National Title are a few US-based companies offering title policies in Mexico. *The above is provided as general information. As laws are subject to change and not all details can possibly be mentioned in this article, we recommend that you seek legal and tax advice from a qualified professional.
Fabiola Thébaud - Kinder is a licensed real estate agent in Laguna Beach, California. With over 18 years management experience at several major international hotel companies, her specialty is hospitality & resort real estate. If you are interested in learning more about real estate in Mexico, please contact Fabiola at (949) 246-2327, or email: fabkinder@gmail.com www.fabulousresorts.com
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BEST’S GOLF GUIDE TO LOS CABOS
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MARINA C CABO ABO SAN LUCAS LUCAS From F rom 10:00 am tto o 10:00 pm.
Contact C ontact Center Center 01800 008 5872 www.luxuryavenue.com www.luxuryavenue.com