Los Cabos is growing by more than 100 new people per day. Our unemployment is around 2%. We have the one of the fastest, if not the fastest, growing middle class in Mexico. Mexicos national economy rivals others as one of the healthiest in the hemisphere.
Why? Simple answer: FOREIGN INVESTMENT. Call it tourism, call it development, call it whatever you want. Our economy in Los Cabos is booming because of foreign investment.
People are pouring into Los Cabos because of the jobs from our booming Resort industry driven by our high-end timeshare and real estate developers. The people who are building, maintaining, and serving our resort industry depend on investment from foreigners to buy the time-share units and real estate properties. It is not complicated to understand. A great percentage of the purchasing power which drives our robust economy is English speaking.
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Events
There are no upcoming eventsResort and Second Home Survey
A new survey of second-home owners by NATIONAL ASSOCIATION OF REALTORS shows that baby boomers continue to dominate the market, and a growing number of second homes more than one-in-ten are owned by minorities. A surprising majority of respondents own multiple properties in addition to their primary residence.
David Lereah, NARs chief economist, says the market continues to be dominated by the baby boom generation.
Middle-aged, middle-income households are the driving factor in the second-home market, with favorable demographics providing a solid fundamental demand in this sector for the next decade, Lereah says. Boomers believe in diversifying their assets, and most second-home owners see their purchase as being a better investment than stocks. A surprising majority of survey respondents hold multiple properties, and they are interested in purchasing additional homes.
David Lereah, NARs chief economist, says the market continues to be dominated by the baby boom generation.
Middle-aged, middle-income households are the driving factor in the second-home market, with favorable demographics providing a solid fundamental demand in this sector for the next decade, Lereah says. Boomers believe in diversifying their assets, and most second-home owners see their purchase as being a better investment than stocks. A surprising majority of survey respondents hold multiple properties, and they are interested in purchasing additional homes.
Let the Buyer Beware!
It has been said that perception is everything. However, I would like to make a case for substance.
In the past, Foreigners purchasing Mexican real estate have not been critical enough in many very important areas. The perception that the English-speaking Buyer can have confidence in any English-speaking agent has also been common. Sadly, many nave investors have paid an unnecessary price for accepting this trust me sales pitch at face value. In Los Cabos recent past, even doing business with an established real estate franchise name is no guarantee of safety.
So where do we go from here? How can one of the most attractive resort markets in North America achieve its enormous potential? How are the serious real estate professionals changing the face of Cabo real estate? And, who are they?
Throughout the world of real estate, no single organization is more respected or more professional than the 1 million members National Association of Realtors (NAR) in the U.S.A. In fact, it is the largest professional trade association in the world. Similar respect is accorded the Canadian Real Estate Association (CREA) and other international associations. Here in Mexico, the Mexican Association of Real Estate Professionals (AMPI Asociacion Mexicanos Professionales Inmobiliarios, A.C.) is the organization recognized by NAR and its international sister organizations.
In the past, Foreigners purchasing Mexican real estate have not been critical enough in many very important areas. The perception that the English-speaking Buyer can have confidence in any English-speaking agent has also been common. Sadly, many nave investors have paid an unnecessary price for accepting this trust me sales pitch at face value. In Los Cabos recent past, even doing business with an established real estate franchise name is no guarantee of safety.
So where do we go from here? How can one of the most attractive resort markets in North America achieve its enormous potential? How are the serious real estate professionals changing the face of Cabo real estate? And, who are they?
Throughout the world of real estate, no single organization is more respected or more professional than the 1 million members National Association of Realtors (NAR) in the U.S.A. In fact, it is the largest professional trade association in the world. Similar respect is accorded the Canadian Real Estate Association (CREA) and other international associations. Here in Mexico, the Mexican Association of Real Estate Professionals (AMPI Asociacion Mexicanos Professionales Inmobiliarios, A.C.) is the organization recognized by NAR and its international sister organizations.
Globalization comes to Baja
It's become commonplace to say that globalization has changed business, but the tectonic shifts run deeper than most businesses understand. These changes are permanent rather than cyclical; the fundamentals of how a business makes money have been altered by worldwide supply chains, instant communications and a surplus of readily available capital. More troubling to managers is the speed with which these factors can render products and processes obsolete, even endangering a business's survival.
As a practical matter, virtually every business is now a player on the global stage. But it's still hard for most people to see the specific ways global forces affect their businesses. People tend to look at them in piecemeal or linear fashion, failing to see emerging patterns. What they see often looks bewildering: a chaos of volatile exchange rates, competitive dynamics that are hard to define and understand, and uncertainty about a host of other complexities. The result is that more and more business leaders are getting blindsided, with a speed that was almost unthinkable in the past.... (Quoted from an article in CIO (Nov. 15, 2004) by Larry Bossidy, the retired chairman and CEO of Honeywell International, and Ram Charan, acclaimed business guru and author)
As a practical matter, virtually every business is now a player on the global stage. But it's still hard for most people to see the specific ways global forces affect their businesses. People tend to look at them in piecemeal or linear fashion, failing to see emerging patterns. What they see often looks bewildering: a chaos of volatile exchange rates, competitive dynamics that are hard to define and understand, and uncertainty about a host of other complexities. The result is that more and more business leaders are getting blindsided, with a speed that was almost unthinkable in the past.... (Quoted from an article in CIO (Nov. 15, 2004) by Larry Bossidy, the retired chairman and CEO of Honeywell International, and Ram Charan, acclaimed business guru and author)
Community and Values
The changes are becoming obvious.
Not the growth of Los Cabos as one of the hemispheres most upscale resort markets. I am not referring to our dramatic growth itself. Clearly, we are booming. I am referring to the symptoms. I am talking about what the family therapist might refer to as the elephant in the living room. Everyone notices, but no one feels comfortable talking about it or acting in way which will cause a disturbance to the order of things. It will not go away by itself. It is necessary to recognize that action may be required before the house fills up with dung.
Healthy communities with a strong sense of social values address the problems which result as change happens and growth occurs. Realtor members of the Mexican Association of Real Estate Professionals (AMPI) and the National Association of Realtors (NAR), defend the private ownership of property, and the protection of individual property rights.
Not the growth of Los Cabos as one of the hemispheres most upscale resort markets. I am not referring to our dramatic growth itself. Clearly, we are booming. I am referring to the symptoms. I am talking about what the family therapist might refer to as the elephant in the living room. Everyone notices, but no one feels comfortable talking about it or acting in way which will cause a disturbance to the order of things. It will not go away by itself. It is necessary to recognize that action may be required before the house fills up with dung.
Healthy communities with a strong sense of social values address the problems which result as change happens and growth occurs. Realtor members of the Mexican Association of Real Estate Professionals (AMPI) and the National Association of Realtors (NAR), defend the private ownership of property, and the protection of individual property rights.