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Cabo San Lucas Blog

This blog discusses Los Cabos real estate and other important news and happenings in Cabo.


What is Happening to the Cabo San Lucas Real Estate Market?

I receive this question more and more these days with the US real estate market in the dumps and more troubles to come.  It is ineviteable that this will be affecting the market we have here in Cabo San Lucas and San Jose del Cabo.  Although our market is slower, a lot slower, now more than ever we still aren't seeing the sharp decline in prices that I am seeing in many parts of the US.  The reason for this is, in large part, is because most of the buyers/owners of property here in Cabo purchased with cash and don't hold a mortgage. Also, there are no foreclosures here in Cabo so the distressed sales we are seeing the States is not happening here in Cabo.

Now, with this being said there are still buying opportunities to be had.  I just had a client purchase a condo 16% less than asking price after the seller had just reduced the price 10% a few months before. If there are any buyers looking to buy in Cabo now is better than it has been in the last 3 years. 

Posted: Thursday, January 29, 2009 8:33 PM by Nick Fong


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