 |
|
 |
| rocky
point newspaper |
 |
| rocky
point newspaper |
 |
| rocky
point newspaper |
 |
| rocky
point newspaper |
 |
| rocky
point newspaper |
 |
| rocky
point newspaper |
 |
| rocky
point newspaper |
 |
| rocky
point newspaper |
 |
| rocky
point newspaper |
 |
| rocky
point newspaper |
|
|
|
|
|
|
| |
|
Rocky Point's "Big Bang" - Real
Estate Preparing for Sustained Foreign Investment
As Interest and Market Heat Up
[Puerto Penasco] -- "Build
it and they will come." These words
reflect the state of the real estate market
in Rocky Point today, which continues to grow
with each new service entering the local market,
according to Mercy
Duenas, a local Remax real estate agent.
Developer financing and the arrival
of title insurance have spurred the market
higher, Duenas said. American
lenders know a hot market, and many
plan to offer American financing to properties
in Mexico, she said. Still, only a few
American lenders offer financing at this time,
Duenas said.
But changes are coming.
In the coming year, Duenas expects more American
lenders to enter the market. Financing
was only available through developers and
Mexican banks, according to Duenas, whose
residence in Mexico spans more than 30 years.
Not long ago, home buyers had to pay cash
for real estate in Mexico, she said.
Those days are now history, according to Duenas.
|
 |
Land
Values Soar With News of Megaport Just 50
Miles South of Ensenada
Ejido Colonet, Baja California, and the
five miles between it and the Pacific
Ocean are the subject of a great land
grab since the government announced the
construction of a huge port there.
Land sales around the tiny town exploded
creating friction among ejido residents.
Many transactions are completed in secrecy,
adding to the frenzy.
Investment in the town and
surrounding area could total $22.2 billion
dollars, and would create a new city in
Baja California.
The new port will relieve
the huge increase in U.S. imports expected
from China and Asia. Punta Colonet
will be bigger than both Los Angeles and
Long Beach ports combined, according to
consultants familiar with the project.
Local
News Page Two >>
|
|
|
|
|
|
|
