Baby Boomers are flocking to Baja to lock in land values Los Barriles, Baja Sur, Mexico (PRWeb) February 21, 2007 -- The East Cape of Baja located along the Sea of Cortez coastline between Cabo San Lucas and La Paz has created a feeding frenzy for baby boomers interested in beach front property. As Baby Boomers search for affordable beach front, the Baja has offered U.S. and Canadian residents a chance to lock in their retirement location. Jeff Niemi, real estate broker for Baja Beach Investments www.bajabeachinvestments has seen the radical change in buyers in the last three years.
"Three years ago this area was primarily a source for retirees who enjoyed fishing or living in somewhat remote areas of Baja." Most of these buyers do not intend to build homes right away as they will wait until closer to retirement. As land values sore, the boomers are locking in their land purchase now, as they realize construction costs will not go up nearly as much as land values, and they don't want to be priced out of the market by the time they retire. In the last 6 months and influx of US based lenders has also fueled the buying frenzy as Baja land and home purchases now qualify for funding at rates slightly above the US market.
One major necessity for many American's looking for which the East Cape has lacked is a marina and golf course. This will change as a new Marina project and golf course in La Ribera, 45 minutes North of the Cabo San Lucas international airport, will get underway in the early Spring of 2007. There has already been plenty of activity as many of the boomers with boats are reserving channel lots in the marina and golf course lots.
The Mexican MLS association has identified the East Cape as one of the hottest real estate markets in all of Baja. Jeff Niemi and Kimberly Ford, co-brokers have an office in Los Barriles, the heart of the East Cape. For more information you may contact Jeff or Kimberly at 760 494 7381. |