|
Affordable View Condos Announced
Ventanas Residential will be revealing the master plan for their new condominium project and are taking reservations for the units now. Layout will be sixty units in fifteen four-plex buildings, each with two units up and two down. The lower units will have garden views ($150,000 US) and some upper units ($200,000 US) will have ocean views with roof top terraces. Each condominium offers two bedrooms and two baths in 900 square feet, parking for two cars. The gated community includes such amenities as a guard service and a clubhouse and large swimming pool. The HOA dues are projected to be $125 US per month, and the project will come with a rental and management program. Interior upgrade packages are available for approximately $15,000 US. Until the master plan is revealed, clients may purchase a fully refundable priority reservation number for $5,000 US.
|
|
|
|
When the plan has been approved, they will have the opportunity to select a unit. The selection will be done in order of reservation number. At time of selection, an additional $5,000 US will be payable, and 20% of the purchase price payable within the next six months. Upon delivery, bank financing of the balance of the purchase price is available on approved credit. The developer anticipated delivering the units starting in May 2009.
Mortgages Now For UK Citizens
There is a new mortgage provider in town, says Mike Meenan, mortgage banker for Innovative Lending Solutions México. This new provider has several unique offerings, including mortgage lending for U.K. as well as U.S. and Canadian citizens. Among the other new programs this provider brings are true stated income loans and stated income cash out loans. For the stated income loans, the loan limit is four million dollars (US), with 50% loan to value. The minimum credit score for these products is 680, and the interest rate at press time was 8.95 percent. Full documentation loans are also available at 70 percent loan to value, as are a variety of other loan products. Your MLS-member real estate agent can expedite your loan or pre-qualification process, or you may contact Mike Meenan at mike@ilsmexico.com.
|
|
Cabo To Get Face-lift
Work has begun on a long-awaited face-lift for downtown Cabo San Lucas. The ambitious project, begun in July, will completely renovate the main streets of Cabo (Lázarro Cárdenas and Marina Boulevard) improve landscaping and put utility lines underground, and upgrade the sewer system. Local merchants welcome the improvements, albeit wary of the time expected to complete the project. Original estimates to local business owners projected completion by October 2008, but delays have already pushed that back. Representatives of one company involved told a meeting of concerned business owners that the delays were due to a lack of plans from the original construction. The meetings, sponsored by Canaco (similar to a better business bureau), took place August 5 and 6. The representative of Par Vial told the business owners that, since there are no blueprints showing the location of current pipes, their crews have to hand dig to locate existing sewer and water lines. More information will be published on the website www.improvingcabo.com, at press time the site was under construction (just as the streets are.) Photos of the progress at the east end of town can be seen on the website www.lovecabo.net. .
News Briefs:
• Grupo Questro, developers of the luxurious Puerto Los Cabos just east of San José, have put on hold their plans to offer luxury view condominiums. They continue to offer custom home sites in three neighborhoods within the master-planned community. Puerto Los Cabos is home to two golf courses: one designed by Jack Nicklaus and the other México’s first Greg Norman course. The community also features a large marina and extensive parks. Residents may enjoy several clubhouses, including an exclusive beach club. For more information on building sites and finished homes in Puerto Los Cabos see your MLS-member real estate agent.
• Terrazas Las Fuentes is continuing their summer sale, offering homes originally priced at $1,100,000 USD for as low as $599,000 USD. This enclave of 11 executive view homes features high end finishes, four bedroom floor plans, and spectacular views of the bay and Arch. Your MLS-member real estate agent can arrange a tour while the summer prices last.
• “There has never been a better time to be a buyer in Los Cabos,” says Carol Billups, LCM Real Estate columnist and broker for Realty Executives Los Cabos, “This year our market is finally behaving rationally.” Billups explains that in prior downturns, prices held steady because most homes were owned free and clear. With only nominal carrying costs, there was no pressure on sellers to drop prices in a slow market. Now, with many homeowners making monthly payments, there is more pressure to drop prices, and that is the trend she and other realtors are seeing. “This is the perfect buyers’ market,” she adds, “and perhaps the lowest price points seen in Los Cabos this century.”
By Carol Billups
|
Copyright © 2010 - Joseph A. Tyson - All Rights Reserved - www.loscabosmagazine.com
Los Cabos Magazines, Inc - Tyson Promotions, Inc - Promociones Tyson, S. A. de C. V.
Cabo San Lucas, Baja California Sur, Mexico - Last Revision - 03 October, 2008 - fap
|
