I saw this large tree profusely blooming in March in and around Guadalajara. When I asked a local, he claimed it was a "clavo" (i.e. clove tree) but that can't be it. It had no leaves, just flowers.
Looks like Pseudobombax ellipticum, Common name Shaving brush tree. See... http://toptropicals.com/cgi-bin/garden_catalog/cat.cgi?uid=Pseudobombax_ellipticum Scroll down for good pics