| Do you remember the 1927 novel, "The Treasure | | | | the Mexican Riviera is exploding with |
| of the Sierra Madre", which was about a | | | | population growth and new development. |
| couple of down-and-out Americans that joined | | | | |
| up with a crusty old timer to prospect for | | | | One of the results of Mexico's 1917 |
| gold in Mexico? It was later adapted into a | | | | Revolution was the Agrarian Law which |
| film by John Huston in 1948, who returned to | | | | provided the redistribution of land from the |
| Puerto Vallarta, Mexico in 1964 to film | | | | wealthy land owners to the farming peasants. |
| "Night of the Iguana". | | | | This Agrarian Law prohibited the farmers from |
| | | | ever selling their land; they were only to |
| The Sierra Madres have been and continue to | | | | work it. However, in 1973, the Mexican |
| be rich in mineral wealth containing vast | | | | government modified the Agrarian Law, thus |
| deposits of gold, silver, lead, zinc, copper, | | | | allowing foreign real estate investment in |
| and tin. The problem is; the majority of us | | | | Mexico. Certain restricted zones were also |
| North Americans can't do very much to prosper | | | | made available to foreign buyers by |
| from or enjoy the benefits associated with | | | | establishing the fideicomiso, or bank trust. |
| these rich mineral assets. However, the | | | | This 50 year bank trust grants the real |
| Sierra Madres do possess another great asset | | | | estate title to a bank, acting as a trustee, |
| that we can benefit from and enjoy; that is | | | | who is obligated to follow all instructions |
| real estate! | | | | given by the trust's beneficiary, the foreign |
| | | | buyer. The Agrarian Law was again amended in |
| Now, we ask, where exactly are the Sierra | | | | 1993, allowing the ejido farmers, with |
| Madres? Well, there are actually three | | | | unanimous consent, to privatize or regularize |
| mountain ranges in Mexico, all referred to as | | | | their land and sell off parcels to others. In |
| the Sierra Madres. The first is the Sierra | | | | 1994, NAFTA created a dispute-settlement |
| Madre Oriental range that runs about 700 | | | | provision to protect direct foreign |
| miles from north to the south on the eastern | | | | investments in Mexico. Since the PAN Party |
| side of Mexico. On the western side of | | | | took control in 2000, there have been a |
| Mexico, the Sierra Madre Occidental range | | | | number of other legal changes, all designed |
| runs about 700 miles from the US border south | | | | to encourage foreign investments in Mexican |
| to an area just north of Puerto Vallarta. The | | | | real estate. They include financing, title |
| Sierra Madre Del Sur begins close to where | | | | insurance, bank trust regulations, and other |
| the Occidental range ends and continues south | | | | tools to provide security to the foreign |
| to Guatemala. The two western ranges are | | | | investor. |
| bisected by the Trans-Volcanic Axis which is | | | | |
| a geologically active volcanic mountain range | | | | All Mexican land within 100 km of the borders |
| whose smoldering cones link the western | | | | and 50 km of the shorelines is considered as |
| ranges with the eastern range. This east to | | | | restricted zones and treated differently than |
| west volcanic range starts near Cabo | | | | the interior land. Since the beautiful |
| Corrientes, at the southern tip of Puerto | | | | western coastline property along the Mexican |
| Vallarta´s Banderas Bay, and ends just | | | | Riviera lies within the 50 km restricted |
| south of Veracruz on the Gulf of Mexico. | | | | zone, it is being slowly but surely acquired |
| | | | by foreigners through fideicomisos, as the |
| Now that we have the geography lesson behind | | | | ejido farmers privatize it. Of course, as it |
| us, let's just position ourselves where three | | | | converts, its value and selling price |
| of these four ranges intersect, i.e., in | | | | skyrockets, thereby providing substantial new |
| Puerto Vallarta. Standing in Vallarta, we | | | | wealth for those fortunate land owning |
| look to the north and see the Sierra Madre | | | | families or ejidos. There is so much |
| Occidental range, to the south we see the | | | | magnificent coastline available, this process |
| Sierra Madre Del Sur range, and to the east | | | | of conversion will probably continue for |
| we see the Trans-Volcanic Axis range. Yes, | | | | another generation. |
| even though Puerto Vallarta is located on the | | | | |
| Mexican Riviera along the Pacific Ocean | | | | As this coastline gets privatized, sold to |
| coastline, you could say that it's in the | | | | foreigners, and developed, the North American |
| center of the Sierra Madres. Being located in | | | | baby boomer invasion continues and the local |
| the center of the Sierra Madres and on the | | | | economy thrives as thousands of new |
| Pacific Ocean, Vallarta offers some of the | | | | construction and service jobs are created. |
| most scenic land anywhere on the planet. | | | | The head of the local Chamber of Commerce has |
| | | | predicted the population of greater Vallarta |
| Being located at the same latitude as Hawaii, | | | | to reach 600,000 inhabitants by 2015, making |
| the climate in Vallarta is essentially the | | | | it much larger than many northern US cities |
| same as Hawaii. With the fabulous climate, | | | | such as Cleveland, Ohio. The current |
| outrageous views of mountains and ocean, | | | | construction boom seems relentless as new |
| located only two to three hours from the US, | | | | villas, condominium complexes, shopping |
| and a progressive PAN Party in power, real | | | | centers, and office buildings continue to |
| estate treasures in Vallarta have been | | | | spring up daily. |
| discovered! | | | | |
| | | | While boating in Banderas Bay, you peer |
| The coastline from Riviera Nayarit, 45 miles | | | | across the water and see countless beautiful |
| north of Vallarta all the way south to | | | | villas and condominiums nestled in the |
| Careyes on the Costa Alegre, 55 miles south | | | | foothills of the Sierra Madres and you must |
| of Vallarta, is currently undergoing a major | | | | agree, "There's gold in them thar hills"; |
| transformation. Due to the recent legal | | | | the real treasure of the Sierra Madres is the |
| changes pertaining to the foreign ownership | | | | hills themselves and the real estate |
| of coastal land in Mexico, the stable peso, | | | | contained therein. It all lies before your |
| the conservative and pro-US Mexican | | | | eyes and is now available to you in Puerto |
| government, and of course, the onslaught of | | | | Vallarta. So, why hesitate? Come on down this |
| baby boomers searching for retirement | | | | winter and explore the opportunities that |
| destinations, this entire 100 mile stretch of | | | | await you in Paradise. |