Climate is right for purchasing real estate in Rocky Point, Mexico
Since homes and condos purchased in Rocky Point, Mexico are mainly second or vacation homes, the indicators you use to decide when it is the right time to make such a purchase differ from those when you are purchasing a main residence. So, what are the indicators that are telling us now is the right time for purchasing real estate in Rocky Point, Mexico?
The indicators listed below from AMPI, our local professional real estate association, show that the availability of properties for sale is shrinking and there are fewer owners wanting to sell. Add to that the average sale price went up 6% and the total sales volume increased to over $162,000 this year from almost $18,000 last year. If these facts alone aren’t pushing you to secure your piece of paradise then read on to learn what Rocky Point has in store.
Here are a few key indicators from AMPI MLS database comparing January 1st this year to now (nine months) to the same period from last year:
- Total active listings dropped 11%; meaning a shrinking inventory of properties available for sale
- New listing dropped from 400 to 339; less owners wanting to sell
- The number sold increased from 110 to 132; showing a 20% increase in sales
- The average sale price increased from $162,034 to $172,357; 6% increase in sales price. Prices are starting to increase. We even had a few properties sell higher than list price, even though the average sold price is 87% of list price.
- Total sales volume increased from $17,832 last year to $162,034 this year
While other markets have been suffering over the past three to four years, Rocky Point, Mexico is actually flourishing and growing. Would big companies such as WalMart, Sam’s Club and AutoZone be investing in a sinking economy? I don’t think so. These companies do mass amounts of research before they decide to open a store and it isn’t based on population alone. And these are just three of the new stores that have opened in the past year. Actually Bodega Aurrera opened and it is a subsidiary of WalMart, but there have been rumors that we are getting a WalMart store in the near future. Plus Rocky Point has a new mall, yet to be completed, but a 6-plex cinema with theater seating is the first business to be open in this new mall. We may even see a Home Depot break construction here soon. This is solid proof that the Rocky Point economy is stable and on the rise.
If you’re still not convinced then just take a look at our massive convention center under construction near Sandy Beach. It is expected to be open by mid-2013 and imagine how many companies will want to host their conventions or retreats by the Sea of Cortez in Rocky Point – no doubt for much less than they would pay in Cancun or Cabo San Lucas. What a fantastic addition to this town! Another astronomical feat will be the arrival of commercial airline flights into our International Airport. AeroMexico is in negotiations to fly from Hermosillo, Mexico to Puerto Peñasco, Mexico to Las Vegas, Nevada. WOW! Not only will this bring us a host of National visitors, but it will also bring us visitors from the United States and the world! The flight will go into Las Vegas as it is cheaper to fly there than into Sky Harbor. Think of the traffic that Las Vegas gets and if Rocky Point has a connecting flight into Sin City, wow, what a giant leap forward. I’m sure once the flights are proven successful and convention center business gets going then more flights will be added to locations like Los Angeles and Phoenix.
The last indicator on my list is to make Rocky Point, Mexico a home port for cruise ships. If you don’t know what a home port means – it means the place where the boats dock, clean and get ready for their next cruise, add and stock supplies, fuel, repairs, etc. Can you imagine how many jobs opportunities this will bring to our fair city? And that’s not counting the construction of the piers and docking stations or the traffic it will bring as people will want to spend a day or two or more before and after their cruise ship departs. Rocky Point will need parking structures, more hotels, condos and a bevy of other service related businesses. The construction on the cruise ship home port is rumored to be starting next year. Even if it takes another year to get it all squared away, the benefits to the town will be phenomenal. This alone should tell you that the climate is perfect right now to purchase property in Rocky Point. Alas, we must also recognize the increase in tourism this year compared to three years ago. We are not back at our all time high, but more and more people are returning to their favorite vacation spot every month. If you wait too long to make a real estate purchase, prices will be higher and you will have less to chose from so look into ways you can afford a second/vacation home and be sure to use a licensed real estate agent. It is law in the State of Sonora that real estate agents must be licensed so be sure to ask yours.
Laguna Shores Resort has condos, homes and lots for sale or you can purchase a lot and build your own home through Laguna Shores or on your own. Prices are still low at Laguna Shores, but they are on the rise and inventory is shrinking. Take a look at their resales website at www.lagunashoresresales.com for beautiful condos, homes, beachfront lots and lots off the beach. If you cannot afford a home or condo, or do not want to shoulder the expense of one on your own, then Laguna Shores has a great fractional program that’s right for you. Purchase as much or as little time as you want for vacation from one to fifty weeks. And the best thing about a fractional share is that you actually own the property. A fractional IS NOT a timeshare. Come on out and see the immense amenities Laguna Shores Resort has to offer. If you are a first time visitor, please look on their Facebook Page and on their website at www.lagunashoresresort.com for some great deals for first time visitors. There are also great bargains for return visitors.