Cabo San Lucas, Real Estate Foreclosures, Bank Owned, & Hot Properties For Sale

Cabo San Lucas Luxury Homes at Bargain Prices -

by David Mandich

A sales slow-down has occurred in Cabo San Lucas, but a crash – not happening. There is still a healthy demand for building lots. Spec and custom homes are still under construction with more residential and hotel developments in the plans.

Values in Los Cabos have been holding steady with exceptions coming from sellers who have to sell due to financial problems back home, or developers who have to cut and run because of demands from their lenders or investors. Most projects in Mexico are built using private investors or the buyers funds upfront rather than bank construction loans - so one doesn't often see bank owned - or REO developments here.

Cabo has an international real estate market so it hasn´t been affected nearly as much by the financial crisis from up Norté though some motivated sellers having been discounting by as much at 20% from previous high market prices of 2007. There are always some that lead the market on the way up and then follow it as it goes down, then wonder why they can´t sell.

Historically conservative Mexican banks did not get caught up in sub-prime mortgage lending, and are still cooking along making loans to American and Mexican buyers alike here in Los Cabos, Baja California Sur. American banks are still lending here though they have tightened their underwriting requiring 20-30% down payment.

Hottest Property in Cabo: Here is an opportunity that is as close to a fire-sale as you can find in Baja. (See photo at top of page) These 4,377 sq' mansions built by Coci Homes of Mexico were designed to sell for 1.2 million and are now going for half-price starting at only $599,000. They came on the market too late and the builder wants out.

There are only 11 homes in this private gated community. One model remains with Viking appliances and ensuite Jacuzzis, all homes have inlaid marble floors, balcony Jacuzzis, 3-4 bdrms, some with 5 terraces including roof-tops, views of Lands End. Similar homes in nearby golf communities cost as much as $2 million.

Best New Luxury Home in Pedregal: Here is a just completed home at 4.5 million dollars. This fully furnished Tuscan styled mansion features a dive-bomber view of Cabo, and the Sea of Cortez.. It features an infinity pool that disappears into the sky - not the sea, as you are way above the ocean and closer to the stars. See photos in this article.

Pedregal homes range from $280,000 for a new condo, $750,000 for an older fixer in the lower first phase, to great options in the 1-2.5 million dollar range featuring swimming pools, community tennis courts, and views of the Pacific or Cabo. Check with me for the latest on Pedregal, Cabo or Tourist Corridor golf communities - they’re all in Century 21 Paradise Properties backyard

And yes you can own property in Mexico! Just ask me how. I've been living in Los Cabos for 10 years - imagine Laguna, Newport, or La Jolla California - at a fraction of the price and without all the congestion.

If you have any questions just ask, I’m here to help!

David Mandich

More info about real estate in Cabo can be found by searching hubpages.com for articles by David Mandich on Cabo Luxury real estate for sale, Retiring in Cabo San Lucas, Living in San Jose del Cabo vs. living in Cabo,  Hot Properties and Foreclosures in Cabo, Terrazas Las Fuentes, articles on Cabo villas, Big Game Fishing, condos, hotels, spas,restaurant and activities reviews.

Don't miss hubpages articles by Mandich on saving money on healthcare in Cabo by taking a  medical or dental vacations to Cabo.

Cabo is the preferred 2nd home or retirement place place in Mexico for Canadian and Americans as well as  the number one destination for medical and dental vacations. Cabo is only 2-4.5 hours away by air from all major US cities - far closer than other offshore healthcare destinations such as India, Hungary or Argentina.

Hot Tip - Here's 3 ways to visit Cabo Free:

You can get FREE R/T Airfare from the USA or up to 2 weeks Hotel from cabocosmeticdental.com or cabocosmeticsurgery.com  They are offering major surgical treatment or dental makeover patients this opportunity for a limited time only - check for details.

If you are interested in a Cabo Luxury home or condo, Century C-21 agent David Mandich offers free airfare to his home buyers. 

David Mandich is a 10-year resident of Los Cabos, writer for Los Cabos Magazine, and sells real estate at Century 21 Paradise Properties, Los Cabos, Baja California. He can be reached at: davidm@century21baja.com Tel. in Cabo at: (624) 130-4094, Cel: 044-624-132-8919 US Vonage Line 520 204 1604