We think it’s time to pull out our “winter clothes” as we check our weather app again. After all, it’s December, and it is still 80 degrees! I am sure the thousands of visitors and homeowners returning this time of year from their blizzards and below-freezing temperatures are not complaining. We chose to live in Cabo for this very reason. Great weather year-round! So we don’t have to look very far to find Joy and Happiness when it is still 80 degrees in Cabo. We will gladly switch out the hot apple cider for another Esperanza green margarita and replace our cashmere sweaters with bathing suits.

Predicting Over $3 Billion in Closed Real Estate Transactions for 2022

The first half of 2022 was a very robust market, and by the second half of the year, we started seeing signs of a slowdown.  Recently a revitalization presented itself when we sold a 1/8th (six-week) ownership with access to a two and three-bedroom villa, getting closer to our pre-developer prices.

According to the MLS, by the end of the year, we predict to close nearly $2.5 billion. With private developments in the ultra-luxury market, about 1 billion more, making 2022 our highest volume of closed sales yet for Los Cabos.  

Buyer trends have changed a little, showing signs of being more cautious; however, the buyer demographic of people selling in the US and purchasing to live here continues to grow.  We are keeping a close eye on the market, but predictions are we will have a great 2023 year.

Real Estate at Esperanza

We continue in an upward swing, with prices steadily increasing as they come on the market.  Our most recent listing landed nearly 12% above the asking price in our latest Sparkoffer for a 1/8th (six-week) Two / Three bedroom ownership. 

Current Listings

4 Bedroom 1/12th

Limited inventory is available for fractional ownership of spacious four-bedroom condos in the Auberge Private Residences. This ownership is loaded with perks such as:

• Dedicated butler
• Once a week in-villa chef service (cost of the food covered by owner)
• Dedicated seven-passenger vehicle during the stay
• Access to pickle-ball courts with no extra fee for the first two years
• 50% discount at Las Estrellas and other owner discounts throughout Esperanza
• Access to Punta Ballena Beach Club and Hotel Pool
• Dedicated golf cart while on property
• Listed at just $245,500

You can find further information on this 1/12th fraction by clicking Learn More

Two Weeks Together

Two Weeks Together are Better than One

This beautiful Two Bedroom Two Bath Villa has a total space of 2400 square feet and just received a fresh new look. The paint is still drying, so check out our ‘Look Book’ for an inspirational contemporary design. Similar to our 1/24th Fixed Week ownership, this new ownership concept guarantees two “Fixed Weeks” consecutively in this Ocean View Villa, 1702. Owners then benefit from using a 3rd and 4th “Float Week” to be enjoyed anytime between mid-May to mid-November in the same villa. When vacationing, two weeks are always better than one!

• Weeks 8 & 9 (February/March) $285,500
• Weeks 10 & 11 (March) $295,000
• Weeks 49 & 50 (December) $270,000

FULL OWNERSHIP

AUBERGE PRIVATE RESIDENCES

JUST LISTED – $1.75M | 3 Bedroom, 3.5 Bath, 3,600 sq ft. ground floor with expansive garden area.

Live Esperanza

Live the life of barefoot sophistication and let Esperanza owners’ liaison and management take care of you from the moment you step into the Cabo sunshine. Experience all the amenities and services of Esperanza from the comfort of your private villa.

Live Mexico

Stunning blue flag beaches, warm ocean waters, world-renowned fishing, year-round sunny blue skies, extraordinary culinary experiences, friendly, warm-hearted people, and fresh fish tacos!

Learn More

The post December 2022 Real Estate News appeared first on Esperanza Real Estate Company.

To recap 2011 numbers, the fixed week ownership type again saw the highest sales by number with eight (plus two more under contract). For the first time in several years, we saw sales in two bedroom villas as well as three bedrooms. The average price for the fixed week sales was $97,187, which is a higher average than 2010 numbers, when 12 FW were sold. We are seeing a trend in higher prices here, but we don’t want to exaggerate, as the fact is that we will still likely see sales on either side of $100k in the coming year.

The AR ownership type (1/8th, 2/3 bedrooms) saw an increase in number of sales this year with a total of six over the four of last year. The average price has taken a toll and has dipped back from the 15% increase we saw in 2010. Average sale price this year is $194k, and we would like to continue to impress that no seller needs to sell below or much below that average. The low was $185k. Supply continues to hover around the same, but we implore anyone over $250k to consider dropping your price more to market or pull it off the list temporarily to limit supply, which will allow us to get to your desired sale price faster. We see this ownership type selling well this winter due to price point and value.

The four bedroom, 1/8 ownership type (LV) has seemed to have stalled, which unfortunately leads us to believe the lowest list price of $399k is still above what market will bear. I can only attribute this to what buyers sense is a palatable cash purchase in this down economy, and therefore ‘settle’ for a 2/3 bedroom in some cases. We only saw one membership sold in 2010 at a fairly reduced price.. We have eight for sale, which is a higher supply than we’d like, but not as high as we’ve had. As many may know, the Esperanza whole ownership next door (APRE) started selling 1/12th and 1/6th shares in a four bedroom villa, but only two clients have purchased this and neither one of them was a suitable candidate for the LV, for different reasons. One wanted the quieter lifestyle that APRE affords. The other couldn’t afford the $399k list price and would have bought the AR if APRE didn’t have this option. We are keenly tracking if this presents competition for the LV sales, and to date we cannot make such a judgment.

Finally, the oceanfront three bedrooms (HV) saw some action this year. This can perhaps be ‘competition’ to the LV more than any other ownership type, as we have sold a couple half memberships creating a whole 1/6th sale at heavily discounted prices. The average price for a 1/6th at this time is $731k, but more have sold this year than any other year in resale history. Selling in halves would be more in line with pricing of the four bedrooms. We currently have three for sale at $800k and $875k.

Esperanza Real Estate Company placed a half page ad in Coastal Living Magazine’s Ultimate Beach House edition in October. We have seen more than 100 leads come from this exposure, and our website optimization and upgraded Facebook integration have really helped with hits on our website that continue to bring us leads weekly.

As always, if you would like a one on one consultation please stop in our office on your next visit or drop us a line. We will continue to work very hard in selling Esperanza and your membership the best we can.

The EREC Team

The post Esperanza Sellers Update – Fall 2011 appeared first on Esperanza Real Estate Company.

We hope this e-Update finds you enjoying lots of summer BBQ’s and looking forward to your next Esperanza vacation.  We have had a successful winter and spring and are looking forward to November’s arrival to begin the next high season here in Cabo San Lucas.

Sales volume for the first six months of 2011 has taken us to a total volume that well exceeded this same time last year.  Prices are continuing to adjust with the low price point being just one of the many reasons people are buying at Esperanza!

We are pleased to say that all of our buyers see the value in owning at Esperanza.   Los Cabos is general has also seen higher sales volumes.    In our neighborhood, Punta Ballena, there is good news to report for whole ownership homes – this past winter and spring 8 homes have sold with prices from $1.1m up to $3.7m for oceanfront.

Our biggest sales volume so far this year has been the oceanfront HV (Hotel Villa) along with the 1/24^th Fixed Week ownerships.    We even saw several of our 1/8^th AR’s sell at an average of $195,000 each.     We feel any AR listing priced over $250,000 is over-priced, and we are working diligently at stabilizing the sale price to at least $200,000.  Supply is ordinary, so pricing should trend upwards again soon.

We are sorry to report that the 1/8^th interests in the 4 bedrooms has taken the biggest hit in 2010 and continues year to date.   EREC sold three memberships in 2010, from the most recent of $342k to $400k.  We see a necessary price adjustment going into the winter season since a low price point seems to be driving all sales thus far.

APRE, Auberge Private Residences at Esperanza, has a new 4 week, 1/12^th fraction for sale at $210,000.   This product came to market May 2011.

The new ‘pitch and putt’ is finished and great fun for families, along with pilates classes and Esperanza mountain bikes being offered too.  A new activities director, Claudia, has been hired by the developer in hopes to continue the interest and excitement in purchasing anywhere on Esperanza grounds and ‘communitizing’ the entire neighborhood.  Everyone is benefiting from those accoutrements.

Our new ‘wide double glass’ office doors are successful in making us ‘appear’ open and inviting to all visitors and owners.   EREC expanded our real estate website with a creative new blog where we post these quarterly updates, as well provide interesting information on life in Cabo.   Check us out regularly.

As always, we are happy to discuss your individual circumstance at any time.  Please feel free to contact us or stop in to say hello the next time you come home.

Warmest Regards,

The Esperanza Real Estate Company Sales Team

The post Seller’s update – Summer 2011 appeared first on Esperanza Real Estate Company.