Here is an update on my previous post regarding San Jose del Cabo's incredible master planned community of Puerto Los Cabos. The progress has been phenomenal out there, and as the project comes to life, one realizes that this truly is the pinnacle of Los Cabos real estate! First off, the bridge (being built to cross the arroyo when entering PLC) is coming along nicely. They will be closing the "old road" into the marina development this month to complete the work. Click HERE for a recent photo of the bridge (May 17th, 2008).
At left is your view from a lounge chair poolside at the new Fundadores Beach Club... not so bad eh? The beach club for Fundadores (the crown jewel of the 3 Puerto Los Cabos communities) is open to lot & home owners. Let me tell you, it looks incredible and the restaurant is fantastic. The service is brisk, the food is delicious and the prices are very reasonable.
There are currently only a handful of completed & occupiable homes in the development (just three, I believe) so most days, you will have the beach club all to yourself! Imagine pulling up a beach chair at your own private beach club, mojito in hand and waiters at your beck & call... like we say, "Dream it. Live it".
Looking out from the front entrance of the Fundadores beach club, you'll see work underway on the first "room" of a boutique hotel (20-30 palacial rooms) which is the result of a partnership between marina developer Eduardo Sanchez Navarro and the Trinity Group.
To give you a brief overview, there are 3 residential communities within Puerto Los Cabos. I have described each one briefly along with the listings within them that I consider Puerto Los Cabos' "remaining jewels"; opportunities that have been overlooked or are new to the market and hold great value.
La Noria: Bordered by golf holes and sitting adjecent to what will be the St. Regis' boutique hotel within Puerto Los Cabos, La Noria boasted brisk sales and is currently sold out of developer inventory. La Noria is made up of 50 lots which average 1,200 m2. Currently, there are only 3 lots offered for resale through the MLS. The best of which is only available for 3 more days (upon when the listing will expire).
La Noria's Lot 95 (view pictured to the right) is ideally located a stone's throw to one of PLC's beachclubs. It is also adjacent to what will be the St. Regis's boutique beachfront hotel, giving the owners of this prime lot incredibly easy access to all of the hotel's restaurants and amenities! This lot represents one of the best values available within this master-planned development as it was recently reduced from $475k to a mere $399k (and accepting offers even at that price! There is also the possibility of an extension to the building timeline so if you're in the market.... here is your chance, granted, it's only guaranteed for the next 3 days!
El Altillo: As it's name implies, this community rises above both Fundadores & La Noria in elevation, resting on a small hill (the literal translation of "El Altillo"). Made up of approximately 79 lots averaging 2,000 m2, El Altillo offers spectacular golf and ocean views. The community is bordered by golf fairways and also edged by Puerto Los Cabos' golf course lake.
Images of El Altillo's premier listings can be viewed by clicking HERE. It is most important to picture your actual views when shopping for that perfect lot to build upon. To do this, one must take into consideration not only the building pad level of the lot, but the building envelopes of the lot and those bordering it. Pictured below is the amazing panoramic view from El Altillo's Lot #55 (listed @ $499k), which looks up and down the 18th fairway (shot from the front of the lot's building envelope).
Another incredible property to note within El Altillo is Casa Alegre (lot 30). This magnificent 4 bedroom, 5 1/2 bathroom home was designed in the timeless Spanish colonia style. The home boasts unobstructed, incomparable, sweeping views of the Sea of Cortez, Jack Nicklaus golf course and golf course lake. One important thing to note is that the roofline of the tallest home in front of Casa Alegre will barely reach the height level of your swimming pool! This ensures the protection of your view as well as granting privacy to the home's front entertaining area. See below for the panoramic image taken from Casa Alegre's pool area. Pre-construction pricing explains the below market (for comparable homes in the area) price tag of $2.599 million.
Fundadores: These are the cream of the crop. Fundadores offers the largest lots of the three communities. Lot sizes average 2,500m2 (over half an acre) and the view lots have rewarded early investors with amazing returns on their money. Fundadores is now realizing it's buildout as many property owners are beginning their construction in earnest, if it is not already well underway. You can be assured that property values will soar over the next 2-4 years as the project comes to completion. Photos of Fundadores' premier listings can be found HERE.
My top pick for homes in Fundadores... without a doubt, Villa Cortez (pictured at right) which sits proudly on oceanfront lot 18. Designed by esteemed local architect Prospero Tapia, Villa Cortez is built for entertaining in style! The home boasts 5 bedrooms (2 of which have seperate entrances) and 5 bathrooms. The living areas are expansive and open, making maximum use of the space and oceanfront views. Built on almost 1/3 of an acre, this incredible 7,600 ft2 home is priced well @ $8.5 million. With only 25 oceanfront lots in Fundadores (and only 4 currently listed), this is an opportunity for the priviledged few, for whom only the best will do.
There are also opportunities to purchase some amazing resale lots in the Fundadores community. Fundadores instituted building deadlines to ensure that the community's homes were built out in a timely manner. These timelines protect all Fundadores property owners by preventing a never-ending state of construction in the community. They also ensure the maximization of investment potential, as homes in "completed" developments are worth far more those sold pre-construction. These building deadlines may also mean an incredible opportunity for you to join the Puerto Los Cabos master-planned community. There are many property owners who do not intend to build upon their lots but rather purchased them as investments. As their building deadlines approach, these owners are much more prone to accepting competitive and aggressive offers, giving you the opportunity to capitalize on their position.
"Well how can I build a home in time if the deadline for the lot is only 12 months away?" you may ask. Not an issue, extensions have been granted by Puerto Los Cabos and may be written into the offer to purchase. Here are just a couple of my top Fundadores lot picks:
Fundadores' Lot 28: This prime lot (see view pictured at left), is located just steps from the beach on the 2nd row. Boasting panoramic views, the pad level for this lot towers 6 meters (approx. 20ft) above the oceanfront homes in front of it. Recently reduced to $995k.
Fundadores' Lot 31: Also a 2nd row lot, this incredible homesite has the unique advantage of being located directly in front of the beach access. Not only will you be a 2 minute stroll from the beach, but this space provides permanent protection of your view! This lot also sits 6 meters (approx. 20ft) above the homes in front of it. This exclusive lot also comes with PLC approved plans for a 9,600 ft2 home. Offered @ $1.25 million.
I have toured the many real estate developments within Los Cabos extensively in an effort to keep abreast of the constantly changing market here in Baja California Sur. Grupo Questro's Puerto Los Cabos remains one of the most inclusive, well-planned and well managed, master-planned community in Southern Baja.
The opportunity for incredible investment returns or a dream retirement / vacation home is now yours for the taking. Years of planning and development have made PLC what it is today and we are at the last stage of "pre-construction" with this development. The next 5 years will see massive appreciations in value for both lots and homes as the communities complete their build-outs and residents begin to move in. Don't miss out on your chance at the last few gems hidden within this sportfishing and golfing paradise.
For a tour or more information regarding any of the above stated Choice Listings, please do not hesitate to contact me via any of the methods below. My goal is to help others live the dream that I now live (and of course to support my family doing it, heheh!). Seriously though, there are opportunities in this market and I welcome you to join us down here in paradise. Life is all too short, and where you live, always determines how you live.
Mark A. Suen
Dream Homes of Cabo, Real Estate
e. mark@dreamhomesofcabo.com
c. 011.52.1.624.157.3548
p. 1.619.819.2969 (my home number if calling from the US)
w. www.investloscabos.com
w. www.dreamhomesfocabo.com