How is the Cabo Real Estate Market in This Economy?

The visitors we have here in Cabo San Lucas are$400,000 for a single family home.
mesmerized by the beauty and laid back atmosphereSo what is happening here now in 2009? Well real
so much that they forget they are in a foreignestate is down just like it is everywhere else around
country. I can't blame them as the same happenedthe world but fortunately we are not in such a
to me when I first visited this paradise back in 2001.downward spiral as the real estate market in
The proximity to the US, the ease to jump on aCalifornia. We are seeing on average from a 15-20%
plane and to be here in Cabo in a couple hours, anddrop in list prices now which is pretty mild by many
the ability for foreigners to own property in Cabostandards. With this being said, there are still some
have all been reasons why this is such a hotgreat opportunities available for buyers. For sure it's a
destination for people to buy their second and thirdbuyer's market and if you're a homeowner right now
homes here.in Cabo it's better to hold off on selling but some
Prices of real estate have gone sky high in the pasthomeowners don't have a choice. It is those
decade with beachfront houses being sold for assituations that are going to be great opportunities for
much as $15 million USD makes it the most expensivebuyers today. Some things I have witnessed are $4
place in all of Mexico in regards to real estate. Withmillion dollar homes selling for $2 million dollars down
this being said, I have many clients that are surprisedto $400,000 condos selling for $250,000.
to still be able to find very affordable housing here inHopefully, anyone interested in retiring in Los Cabos
Cabo. When I say affordable I mean being able toor to buy a second home takes advantage of this
spend less than $200,000 for a condo and underopportune time to buy.