Will you find slashed prices on Cancun Real Estate properties just like in the suffering US market? Find out the reality of the current Mexico Real Estate conditions. Every day I am receiving more and more inquiries about “distressed property” scenarios. Many savvy investors have shifted their interest from Mexico pre-construction “flipping” since we are no longer in a profitable market for that type of investment. Now those with keen vision are looking for properties priced under market value.
Those sharp investors know that now is the time to buy. Experts in Mexico real estate know the rule……. . the best time to buy is when every one is selling and sell when everyone is buying.
We are truly in a buyer’s market since we are seeing price reductions on many properties in the area, reflecting the current market conditions. However, the situation here in the Mexican Caribbean is very different from the troubled US market. Since financing in Mexico has not been easily obtained to purchase real estate, most owners have paid cash for their properties. This means that we do not have foreclosure situations on these properties. There are definitely owners who are motivated to sell and are pricing their properties accordingly, but don’t expect the slashed prices like in the US market. If you are looking for a great investment or a second/retirement home, now is the perfect time to buy real estate in Cancun and the Riviera Maya.
Since there are many new developments in the area, some developers have started to roll back prices to reflect the slower market. Also we are seeing price reductions on re-sales. This is certainly an opportune time to get great deals on properties here in the Mexican Caribbean.
In other words, bad markets offer great opportunities if you know what you are investing in. If you are looking for a good value vacation/retirement home that doubles as an investment you can’t go wrong. And considering the poor options for investments in the US, it may be the best time to park some of your money in real estate in Mexico