REAL ESTATE Q&A
Real Estate questions asked by you, answered by Baja real estate expert Blake Harrington, of REmexico Real Estate Group
Q: How has the Los Cabos real estate market faired one year after Hurricane Odile?
A: There are a lot of questions on how Hurricane Odile affected the Baja real estate market in the past year. As most are aware, September 14th, 2014 a category 3 Hurricane Odile was a direct hit. There’s little doubt that it will go down as one of the worst natural disasters to hit Los Cabos. In the months thereafter, with the community banding together and a strong effort and response from the Federal Government, our town was pieced back together and open for business within weeks.
Fast-forward 12 months and we are now on the doorstep of a new high season and the first half of 2015 is behind us. I’m pleased to say, that our real estate market has shown an incredible amount of strength post-hurricane. Most of the “hurricane sales” have been purchased and are being restored.
Hotels are back in business and more beautiful than ever with improvements to common areas, dining areas, and infrastructure and guest rooms. And flights, tourism, and investment are all showing strong very strong numbers in Cabo! In fact, our brokerage has seen a dramatic increase in buyer registrations on our website and on the ground at our two office locations since January 2015 versus 2014. We are seeing the homes and condos that are priced accurately, against the competition, get sold or go “under contract” with shorter market time. These are crucial signs to an improving, healthy market.
Because of the lack of hotel rooms after the Hurricane, many frequent visitors had to postpone their trip that was originally scheduled for Fall 2014 to Fall 2015. We are seeing an increase in tour requests, offers, and deals across the board in all different aspects of the market from homes to condo to development parcels.
The Fall of 2015 should be a great time to invest in Los Cabos and we see no signs of our market slowing down! *