Baja Real Estate Back on Track

Tiger`s Golf Course coming soon






















By Gustavo Torres









CONTRIBUTOR





















Punta Brava developers expect to break ground this year









This piece contains a few excerpts from an article by Sandra Dibble on Tiger Woods’ Baja Golf Course, from the San Diego Union-Tribune. Sandra Dibble writes many articles on Baja and often attends Baja events, developments, etc.





















Punta Brava sales team member Ryan Osterdorf teed off at what would be the location of the golf course’s 10th tee.





















According to Rosarito’s AMPI (Mexican Realtors Association), sales in the northern Baja area are increasing at an unexpected pace.









“We are very excited to see what we are seeing, this is something we did not expect until 2011”said Blanca Guerrero of RE/MAX Baja Realty in Rosarito Beach. She added that, “sales levels are now at the 2003/2004 levels which are very good.”





















Most of the buyers are Americans: 70% were from California, a few from other West Coast states and the rest from the East coast. They range in ages, from 40 to 65 years old, and are looking for retirement (35%), a second home (30%), long term investment (25%) and other (10%).





















“Many of our buyers are escaping from the high cost of living in California, especially the extremely high property taxes” says Victor Loza of RE/MAX/Your Baja Connection. Loza further added that, “Indeed, property taxes in California could be around $7,000 annually, while in Rosarito - for an oceanfront condo - they are about $300 per year, and approximately $80 for an ocean view home.”









A number of incredible opportunities can be found at the moment, particularly in Rosarito Beach in Baja, and at just a short 30 minute drive from the San Diego border, it is an excellent option for many.





















Sales have increased tenfold compared to the start of 2009, when the economic crisis exploded and the influenza scare dealt Baja California a very strong blow. Then it was followed by the bad press about the drug cartels fighting in the region. The drug wars were portrayed as if they affected all citizens of Baja, not taking into consideration that these terrible fights where occurring in areas not visited by regular folks, let alone tourists.





















Americans living here – around 15,000 in Rosarito and 30,000 in Ensenada- immediately started posting testimonials, U-tube commentaries, blogs, etc. to show that life was very different to what the US media was “advertising.” Many even created blogs and forums which are easily accessible on the Internet now.





















Even with the crisis fading and sales improving faster than once thought possible, we still have several development projects that are barely beginning to renew their construction and some that are still in the wait-and-see stages.





















Real Estate prices in Baja dropped approximately the same percentage as Southern California. The 35% drop found in the third quarter of 2009, has since increased around 5%, making the average price of an ocean view and oceanfront residential property in 2009 in the Rosarito region approximately $285,000, and oceanfront condos at $306,000.





















Now, with Tiger Woods’ Punta Brava, Baja will be getting lots of positive attention again. “This is the best we could ask for. Similar to the type we were getting in ‘04 and ’05,” said James Bond, a U.S. retiree realtor working hard in Baja. “Back in those days, the U.S. media was portraying Rosarito and Baja as the ‘American Dream found… just south of the border’… then the whole economic turn hit, and Baja stopped being the darling of the American media.





















Since the announcement of Tiger Wood’s Baja development, almost 170 “super” prospective buyers have been flown down to tour the site; looks like most have showed excitement for the project.









Brian Tucker, the development’s director said “This is to be one of the singular golf clubs in the world.”









With views of the ocean at every tee or green, the Tiger Woods golf course will be the centerpiece of the development planned at the tip of the Punta Banda peninsula overlooking Todos Santos Bay. The project includes 120 units, with prices starting at $3 million for a lot and $3.5 million for a condominium, according to information released at the project’s unveiling.





















Punta Brava’s financial backer is Red McCombs, co-founder of Clear Channel Communications and former owner of the San Antonio Spurs, the Denver Nuggets and Minnesota Vikings. McCombs is a principal of The Flagship Group, headed by the Austin-based developer Brady Oman. The project’s estimated cost is $100 million.





















This past President’s Day weekend/Valentine’s Day was a blast. So many tourists came, the weather was just perfect, and buyers were all over the place. “I had two different groups wanting to see the same oceanfront house, and at the same time! This hadn’t happened since 2007,” said Victor Loza, referring to a $245,000 oceanfront listing, a 3bed/2ba house in northern Rosarito.





















This is the best time to invest in Baja California real estate, and you should wait no further.





















By the way, for more information on this article, and excerpts of a related article by Sandra Dibble, and Baja real estate, please visit http://www.bajainvestment.com/

Gustavo Torres


AMPI Rosarito Realtors