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How is the housing market in Los Cabos? Any trends that you've noticed? The market has slowed considerably. Generally the summer is a slower time, however, this year is being affected by the market in the States.
The typical buyer: Over 45 and married.
Avg. cost of a home, in areas that foreigners primarily live for vacation homes:
Low-end: $400,000 USD
Mid-range: $850,000 USD
High-end: $2MM USD
What do prospective buyers look for in a vacation property in your area?
Property Type: Condos, single family homes, lots.
Location: Either beachfront or with a great ocean view.
Any specific amenities: Access to beach, pool, golf.
What tourist attractions and events would pull in renters? Vacation renters travel to Cabo for world class golfing, fishing, surfing, scuba diving. In addition, we have a new facility for swimming with dolphins and a zip line desert adventure. The sun shines 350 days a year, and the climate is lovely.
Tips for buying a vacation rental home in the Los Cabos area:
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Don't plan on making your mortgage payment from the rental proceeds
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Know the 3 main areas well, as they are extremely different.
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Work with a licensed real estate agent
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Get a good property manager if you don't intend to occupy it full time.
And lastly, why should a buyer choose a vacation rental home in your area? Cabo is easily accessible by automobile from the United States, if necessary. Via air travel it is with 3.5 hours from three quarters of the United States. The investment is considered safe and U.S. Mortgage companies are making loans with the Mexican property as collateral. U.S. Title Insurance has been available for years. The Los Cabos area has very low crime, beautiful weather, beautiful water, delicious cuisine and friendly people.
Originally hailing from Iowa and Wyoming, Julie Kershner was licensed in Washington State and worked as a Realtor® there for twelve years before she gave up on the rain and followed the sun to Baja. There she managed the Prudential Real Estate office and became one of the most respected professionals in the region. Julie was elected President of the Los Cabos Multiple Listing Association and recently served as President of the Association of Mexican Real Estate Professionals (AMPI) in Los Cabos, the Mexican equivalent of the National Association of Realtors. She is renowned for having developed an innovative education curriculum to be used by all members of the Los Cabos MLS.
To get a feel for the Los Cabos Vacation Rental Market or to find a great vacation property to rent, browse Los Cabos Vacation Rentals on HomeAway.com.
Are you a realtor in a vacation market who'd like to do a Q&A? Email us.
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