The Housing Market Rocks in Cabo!
The real estate market in Cabo San Lucas is booming! I grew up in southern CA between Laguna and Newport Beach where the pricing market is high due to less land with fewer homes on the beach that are available – well for a price, these lots are available. What costs $5 million in Laguna or Newport Beach today cost a third of the price in Cabo San Lucas for a home located on the beach with a spectacular ocean view! I tell “Buyers” all the time, imagine if they had purchased a beachfront property in Southern CA 40 – 50 years ago – what would that lot be worth today and how much did the home cost 40 – 50 years ago? Welcome to Cabo San Lucas where acquiring or building a home today on the beach brings these pricing opportunities to you TODAY!
In Cabo San Lucas, there are communities consisting of some very sought after property from investors, home owners and those looking to retire. However, showing real estate here is NOT like southern CA. Couple of examples: NO lock boxes on the door, most homes are located in private security gate communities so NO access and many of the secured communities do NOT allow “for sale” signs out front of the house. So how does a home buyer find a home in Cabo when some of the BEST home opportunities are NOT visible? Let CaboProperties help!
Although Cabo San Lucas has seen a decline in real estate during the past five years, Cabo remains very active while other areas of the world market have declined. There are several reasons why real estate in Cabo San Lucas continues to develop and represents a wonderful opportunity for the right buyer. This is NOT true for other parts of Mexico and other vacation destination areas across the world. Why the real estate market in Cabo San Lucas?
Some Obvious Explanations:
- Only a two hour direct flight from San Diego and 2 ½ hours from Orange County with most flights costing less than $300 for a round trip ticket!
- Beautiful beaches and a very SAFE travelling destination where cruise ships arrive almost daily!
- Location, Location and Location! World famous ARCH and the TIP of Baja!
Cabo San Lucas is the safest state in all of México and is one of the safest cities in the Baja. Plus Cabo San Lucas brings millions each year for events such as the Bisbee Annual Black and Blue million dollar marlin jackpot, the Baja 1000, the incredible beaches, sunny weather practically daily and the downtown nightlife. We think Cabo San Lucas has one of the best and cleanest marina’s around with hundreds of million dollar yachts relaxing throughout the marina. There are many reasons why Cabo is an ideal place to purchase and live and I know we have only listed a few, so experience Cabo San Lucas for yourself and learn the culture, meet the locals and discover why the housing market in Cabo San Lucas is ideal… Don’t worry as most of the locals speak English so navigating around Cabo is unexpectedly convenient!
Did we already mention the sun? The weather in Cabo San Lucas is a huge selling factor. There are millions of people who live in places where there is snow and extreme cold. With the average weather condition in the 80’s and the milder climate of the tropics, many US and Canadians are becoming owners of local property.
Financing in Cabo San Lucas
Financing property in Cabo San Lucas is changing and much more inviting for U.S. and Canadians. Some home purchases even offer Seller Financing options, but know the rules of purchasing in Mexico and protect yourself as purchasing real estate in Cabo San Lucas is different. This is why you should contact the experts at CaboProperties.com as we understand the laws and all the financing qualifications.
With new financing options available, purchasing real estate in Cabo is much more attainable than it was just five years ago. The local real estate market is the reason why most (still not ALL, this is why you need a reputable company and Broker) of the real estate companies have become much more sophisticated. Real estate brokers must now belong to AMPI (association of Real Estate Professionals) and their agents must now undergo some formal training to be educated with the requirements to sell homes or invest in Cabo San Lucas – this is a GREAT THING! This has not always been the case, so unfortunately there are stories of investments that have gone bad or Americans and Canadians losing money from poor real estate deals. Thankfully the regulations have changed, therefore home and land developments in Cabo are on the rise.
There is plenty of homes on inventory, with brand new multimillion dollar developments being built along the beaches of Cabo. This is why NOW is the time to purchase, just like it was 30 – 40 years ago in southern CA. Drive around Cabo and you will see golf courses being built by Tiger Woods and Jack Nicklaus just to name a couple. There is so much land development in the planning stages with much more opportunities opening around Los Cabo. Along the Cabo Corridor, more newer developments are being built, plus the Pacific side of Cabo still remains a very hot location for real estate investing – still miles and miles of coastal property available!
Home Pricing in Cabo San Lucas
Depending on your real estate desire, there are home prices to fit every budget. A recent local MLS search shows home lots starting as just $15,000 US dollars. Single family homes range from under $50,000 US dollars to well over $20 million US dollars.
One thing for sure in Cabo San Lucas is that the area is growing. With new construction, new commercial buildings and large store chains such as Coscto, Walmart, Home Depot, Office Max and others, Cabo will continue to experience growth from American and Canadians. In addition a whole new group of “Baby Boomer” retirees are beginning to explore their retirement options. Cabo San Lucas is a pleasant and relaxing alternative for many of these retirees who are seeking, affordable housing, milder weather, reduced stress and a less expensive environment in which to live.
Contact US if you have any questions.
Until WE meet in Cabo…