What’s the buzz in Los Cabos real estate. By Carol Billups. Los Cabos Magazine Issue #19 Winter.
Last Chance At Tortuga Bay
Having just delivered their first phase, Tortuga Bay has released its second and final phase for pre-construction reservations. Tortuga Bay is the latest high-end beachfront condominium development in San José del Cabo. The developer, Mike Schaibel, has announced that this will be the last ownership opportunity in Tortuga Bay, and possibly among the last beachfront opportunities in the area. Featuring stunning ocean views and cascading pools, the complex offers high-end finishes and top-of-the-line appliance packages. Management is provided by Baja Vacations who, in addition to conventional property management, offers a vacation rental program. Phase I sold almost completely prior to delivery. Phase II will consist of 51 units, most with two-and three-bedrooms, starting at $900,000 US, and top floor three-bedroom penthouses starting at $2,500,000. These are pre-construction prices only.
Tortuga Bay Phase II is being pre-sold under the same terms as Phase I, however, buyers in Phase II have an additional financing option not previously available. With pre-approval from any authorized mortgage lender, the buyer may put down just 30% of the purchase price and make no further payments until the condominium has been delivered for occupancy. The mortgages are from US-based lenders, with competitive rates. Contact an MLS member real estate agent for more information or to tour Tortuga Bay.
Quivira and Jack Nicklaus
Announce New Development
Quivira Los Cabos, the massive new super resort, which incorporates Pueblo Bonito Sunset Beach Hotel, Pueblo Bonito Pacifica Hotel and Spa, and the Ritz Carlton Residences, announces another sub-community as a joint venture between Jack Nicklaus and Ernesto Coppel. These Nicklaus-branded full ownership homes will be sited along the resort’s nearly three miles of Pacific oceanfront and two Jack Nicklaus designed golf courses. This represents Nicklaus’ second high-end residential community, the first being the prestigious Bear’s Club in Jupiter, Florida. Jack Nicklaus is no stranger to Los Cabos, having been instrumental in bringing golf to what had been primarily a sport-fishing destination. With the opening of the first Palmilla course in 1993, there are currently six Nicklaus-designed courses in play in Los Cabos. It is planned that of the two new courses in Quivira, one will be public and the other a private course. The courses are expected to be completed and opened for play in 2010. Quivira Los Cabos will also be home to a Jack Nicklaus Golf Club, one of only 25 worldwide. Although prices and site plans were unavailable at press time, the developers estimate there will be approximately 200 homes in the Jack Nicklaus Homes development, including oceanfront residences. For more information on Quivira see Uber-Posh: Living in Ultimate Luxury in Los Cabos on page 28 or contact any MLS-member realtor.
Cabo Riviera Hosts Realtors
Cabo Riviera, a new master-planned community at La Ribera on the East Cape recently hosted local realtors to kick off pre-sales of their building lots. Cabo Riviera will offer beach front and golf lots, and, in a first for the area, marina channel lots that will allow yacht owners to park their vessels literally in their backyards. The marina and adjacent village center are scheduled for completion in 2011. An 18-hole Pat Dye Signature course is also planned. Sited on 800 acres of land northeast of San José del Cabo, the resort plans to comprise four hotels and a full-service 300-slip marina. Initial plans call for 350 interior deep-water channel lots, 36 ocean front lots with yacht mooring, and 35 residential golf course lots. Condominiums are planned for the plaza village in the center of the marina. Pre-construction prices for the first phase in the development average $276,000 for a golf course lot about one quarter acre in size, and $480,000 for a deep channel lot with yacht parking; the average size of the interior lots is 800 m2. Delivery of the lots is scheduled for 2011, and pre-construction discounts apply to cash purchases. See your realtor for more information.
Did You Know?
Los Cabos is home to one of the largest Multiple Listing Services in México, with over 500 agents in more than 70 companies. In many parts of México there are no co-operative MLS systems, so buyers must go from brokerage to brokerage until they find what they are seeking. Founded in 1989 as “Multi-List Los Cabos,” the organization provides one-stop shopping: Clients need only work with one agent to see any property for sale in the area. The organization has adopted the code of ethics of AMPI, the National Association of Realtors, and member agents are charged with working to professional standards. The database of properties contains thousands of properties in Baja, and, although the real estate theme of this issue is high-end properties, of which there is no shortage in the area, your MLS realtor can help you find your perfect vacation or investment property no matter what your budget. For example, at press time there were 98 single-family houses and 189 condominiums listed for sale on the MLS system for under $300,000 US. Working with a MLS member agent ensures that your purchase will be a safe investment. For more information on owning property in Los Cabos go to https://www.loscabosguide.com/realestate/fideicomiso.htm.
