Recent Developments
All the latest news on Los Cabos real estate
By Carol S. Billups
Tramonti Alters Plans, Offers Unique Investment Opportunities
In response to customer demand, the developers of Tramonti (www.tramontiloscabos.com) have reconfigured their Phase 2 ocean-view towers to include one-, two-, and three-bedroom units. The three-bedroom units have been configured so that the third bedroom can be used, rented, or sold as a lock-out studio unit. Some units are being sold “mainland style” so that the new owner can customize the interior finishes. Or, the developer will supply luxury finishes as in Phase 1. One-bedroom units are not commonly available in new construction and will allow those who want a more modest investment to still be part of a luxury complex. Prices start well below $200,000 U.S. for the smaller units. For example, a one-bedroom unit without interior finishes is being offered at about $145,000 U.S. for a cash transaction. Tramonti offers developer financing for up to 10 years, or cash discounts may apply. Although located on the tourist corridor, Tramonti will give owners access to the entire Quivira Good Life experience, including optional membership at the award-winning Jack Nicklaus–designed Quivira golf course, making it a great investment for avid golfers.
Duara Announces Preconstruction Contracts for Ocean-View Condos
Duara has announced the availability of preconstruction contracts for new condominium units on the inland side of the tourist corridor (closer to Cabo San Lucas). These two- and three-bedroom units are being sold “mainland style,” which means they will be delivered ready for the buyer to finish with their own kitchens, closets, appliances, or air-conditioning. Prices starting at approximately $180,000 U.S., meaning new owners will have plenty of funds to do a lot of customizing. Your MLS-BCS real estate agent can fully explain the details and options for preconstruction purchase.
Coronado’s Quivira Delivering Homes
The developer has begun delivering finished homes in the new luxury development of Coronado. Located within the master-planned community of Quivira (www.quiviraloscabos.com), which is also home to the Pueblo Bonito Sunset Beach resort, this collection of 48 homes offers something quite rare in Los Cabos: single-story floor plans. Each of the hacienda-style floor plans includes private pool, patios, and outdoor kitchens. Inside the finishes are top end: travertine flooring, Viking appliances, and water features. Due to the elevation, all offer expansive ocean views and some overlook the five-acre Quivira park under construction. Floor plans offer four- and five-bedroom models, with smart home technology. Owners here have access to all the Quivira privileges, including membership in the beach club and golf club. Homes are being delivered now, and financing is available through the developer. A few homes are being offered fully furnished for truly turn-key ownership, or the buyer may elect to wait for construction allowing them to fully customize all finishes and details. Prices in Coronado start at about $1.3 million U.S. Your MLS-BCS member agent can arrange a private tour of Coronado and Quivira.
Los Cabos Real Estate Market Continues to Shift
The market in Cabo, as everywhere, changes consistently. You’ve all heard the terms “buyer’s market” and “seller’s market” and know how that affects the purchase process. Los Cabos is no different. The market moves slowly in Los Cabos, but it does shift consistently between the two extremes. At press time 1,131 properties had either sold or gone under contract in the prior 12 months. But, there are still more than 2,000 on the market. It appears this market is shifting from a buyer’s market toward equilibrium. Los Cabos is home to the largest and most advanced multiple-listing service system in México, with a U.S.-based database and 500 member agents located throughout the state of Baja California Sur. Agents will all tell you that the way you present your offer will determine whether you move into your dream home or move on. In a buyer’s market, it is customary to offer less than the asking price and hope the seller is so anxious to make a deal that he’ll give you a bargain. But that is changing. According to MLS-BCS statistics for the past three months, on average sellers have accepted between 90 and 96 percent of asking price. When determining how much you should offer on a given property, work with your agent to ensure your offer is not so low that the seller will not respond. Y
