It just doesn’t seem possible that another end of the year is coming and everyone all around the world is getting excited about Christmas, shopping, their vacation time in Mexico (anywhere in Baja California Sur is an excellent choice I might say) and especially for us (real estate advisors) we get return visits from good friends and clients. We always look forward to this time of the year just because everything seems to be in the full swing of activities: every residential community (including my home Pedregal de Cabo San Lucas) is full of guests and homeowners who all want to know the latest Information on the happenings in the area. Believe it or not, all conversations eventually lead to the question “What’s happening in the real estate market?” Old and new clients want to know what things are selling for and owners want to know what their property is worth.
For those interested, in the following weeks we will be preparing our detailed real estate market report on which we show the properties that were sold, what price ranges were the most “popular” and which areas are the ones to look for in 2017.
The most interesting situation I feel that’s taking place in the area sort of re-enforces what we’ve been saying for the last 6-8 months: along the corridor, between Cabo and San Jose, the area is a beehive of activity. High rise cranes, heavy equipment, material and an army of laborers are transforming the vacant beach property into stunning new beachfront resorts. The question is, “Why now?” Think about the answer! Eight years ago the exchange rate was around $14 pesos to the dollar. Now the rate is pushing $20 pesos to the dollar. What happens to the adventuresome guy with dollars in his pocket and the burning desire to own or build his vacation dream home? That guy is finding out that his money goes so much farther here in Los Cabos. As for example take the exclusive residential community of Pedregal de Cabo San Lucas: the developers have placed upon the market, ten brand-new Pacific Ocean view lots ranging in size from 6000-10,000 square feet, priced from $200,000 – 560,000 USD in a coveted and secluded area called El Peñon. These lots are the absolute last of a kind. The only property left after these ten lots sell will be the exclusive lots on top of the mountain known as Pedregal Heights offering panoramic and unstoppable city, sunrise, marina and sunset views. The market has always been cyclic but now is certainly the time to buy land and build with those powerful dollars.
Let us help you find that perfect piece of land!
If we don’t talk soon, we would like to wish you a Feliz Navidad and happy real estate shopping in Paradise!
Frank Maury & Gabriela Velazquez
If you want to talk with Frank and Gabriela about Pedregal and the overall Cabo Real Estate Market, send them an email to fmaury@cbriveras.com gvelazquez@cbriveras.com or call them at the Coldwell Banker Riveras Cabo office at (624) 143.1342
