Puerto Los Cabos.<\/strong> El Encanto is evidence of how policy changes are making real estate in Cabo a great investment. Approved and supported by the Mexican government, it is the largest single beachfront development by foreign developers in Los Cabos.<\/p>\n![\"El](\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\")
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\u201cAs an entrepreneur, I sense good deals whether in the U.S. or Mexico,\u201d<\/em> says Rick. \u201cThe area was absolutely gorgeous; all it needed was someone to help guide and work with people like Sanchez-Navarro and Jorge Buch, Puerto Los Cabos developers. It became clear that the area was on the verge of explosion and we felt comfortable being pioneers in that area. One thing I\u2019ve learned is that things don\u2019t happen overnight anywhere, particularly in Mexico.\u201d<\/em> This is one of the places that Old World Mexico and New World Mexico are starting to separate, he notes.<\/p>\n<\/p>\n
\u201cNew Mexico is young, energetic, passionate and full of patriotic professionals,\u201d<\/em> he observes. \u201cOld Mexico appears to have had people who were more into the immediacy of their pocket. Baja has been the stepchild in many regards. Here, people are much more frontier-like than the people overall in Mainland Mexico. The Nationals say, \u2018We do things differently here.\u2019 Now you have a lot of people coming in and realizing that this is the new Cancun of the West Coast. It\u2019s making a lot of things happen.\u201d<\/em><\/p>\n<\/p>\n
Rick is certain that there will be less of the \u201cfast buck mentality,\u201d<\/em> because plans that are now being approved are thought out \u2013 and not spur of the moment situations where individuals became half involved in a project, then ran out of money. He sees those days finished in Mexico \u2013 especially in the planned communities. He believes that governmental agencies will cooperate with developers who have the pockets as well as the vision to help Mexico. When buying something in the United States or Canada, you do your homework and follow the rules. So, in defense of the Mexican government\u2019s past repossession policies, he advises people not to be upset with the Mexican Government for trying to enforce rightful ownership laws.<\/p>\n\u201cThey are getting more sophisticated down here,\u201d<\/em> he states. Too often in the past we only heard about of the failures. When he first brought his deal to Steve and talked him into going partners of the first house, the latter thought it a crazy idea.<\/p>\n<\/p>\n
\u201cI said \u2018Steve, my Daddy always taught me Location, Location, Location. If you have a beautiful setting, and you make it easy for people to get there, they will break down the door to do so. Sure enough, it has taken a lot of people to pull this together, but it\u2019s happened! Our concerns now are not whether we can SELL any more product, but now it is getting houses built and delivered.\u201d<\/em> Rick explains.<\/p>\n<\/p>\n
\u201cTo me, Los Cabos and Baja represent to the American and Canadian client a tremendous upside, compared to current property values in Southern California. A Californian, who can no longer afford beachfront property at home, can buy beachfront property for a third of what they would have to pay, with all the amenities that they would expect in the United States. It\u2019s almost Newport South!\u201d<\/em> Rick exclaims.<\/p>\n<\/p>\n
\u201cMore importantly, they can get these deals without any worry or risk about entitlement of the property,\u201d<\/em> adds Steve. Both developers credit much of the modernization of Mexican society to other high-end resorts, such as Palmilla or Pueblo Bonito. Many Americans have visited them and realized their worries over food, water or the laws are no longer of concern.<\/p>\nFor example, most of the water in the better resorts in Cabo is desalinated. El Encanto has its own desalination plant that produces 100,000 gallons of totally pure water a day. Another benefit for today\u2019s consumer acquiring a home in Baja is the fact that U.S. title companies add a level of comfort that you are purchasing a piece of property that is actually yours.<\/p>\n
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\u201cAll our model homes have come with title insurance and preliminary title approval from Fidelity in New York. Now we\u2019re looking to not only insure the finished home, but also the lots,\u201d<\/em> Steve proudly points out. Whether or not the customer chooses to participate in insuring a property \u2013 insurance IS available. Now that the deeding and title insurance issues are in place, Rick and Steve would like to see lending, or opportunity for mortgages on residential homes for foreign investors, come into play. It is also vital to understand Mexico\u2019s dedication to the environment.<\/p>\n\u201cMexican authorities are very particular about the cactus and indigenous plants, and that\u2019s good. It\u2019s a lot of work and expense for us, but it\u2019s another reason that the government is cooperating with us \u2013 because we\u2019re willing to cooperate. It\u2019s the right thing to do for future generations. They clearly understand the value of quality product and the value of planned development,\u201d<\/em> states Rick enthusiastically.<\/p>\n<\/p>\n
\u201cWe at El Encanto are very bullish on the area \u2013 and Mexico in general! I would much rather put my money in a piece of property that I know is on the path of growth in Cabo San Lucas or San Jos\u00e9 del Cabo, than put it in the stock market or buy a house in the Los Angeles area.\u201d<\/em><\/p>\nEl Encanto is comprised of 36 beachfront high end homes priced from 1.2M-4M USD and six Condo buildings priced from 600k-1.2M USD. To date, 90% of the Buyers are High Net Worth US Citizens and 10% Canadians whom purchased in El Encanto as a second or third home. Current Owners have commented on the Magnificent Quality of their home\/condo.<\/p>\n
For more information, please visit ElEncantoLosCabos.net<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"El Encanto is a community of individually-owned luxury homes, is being developed just outside of town, on the pristine coastline adjacent to the development of Puerto Los Cabos. El Encanto is evidence of how policy changes are making real estate in Cabo a great investment.<\/p>\n","protected":false},"author":1,"featured_media":1231,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[122],"tags":[296,294,125,295,283,299,297,298],"yoast_head":"\n
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