RISMedia's Real Estate Magazine

MAR 2018

Real Estate magazine is the industry's leading source for real estate news and information since 1980. Published monthly by RISMedia, Real Estate magazine offers timely and relevant real estate news to the industry's top brokers and agents.

Issue link: http://remag.rismedia.com/i/944619

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Page 28 of 118

24 March 2018 RISMedia's REAL ESTATE A relative newbie to the real estate scene, REmexico Real Estate is taking the Cabo market by storm. With a total of three offices, 12 active agents, two managers and a five-person support staff, the firm's brokerage model is laser-focused on luxury home sales and marketing. Here, Managing Partner Blake Harrington discusses the state of luxury real estate in Cabo, current trends affecting the market and what REmexico Real Estate's future looks like. Please describe your current housing market. Blake Harrington: We're seeing steady prices with no real movement in either direction. Cabo's market was drasti- cally affected by the 2008 recession in both real estate and tourism. There was a definite lag time between the recovery in the States and Cabo, but with tourism soaring in the area today, our real estate market has rebounded nicely and is showing more consistent and solid trends. Additionally, our inventory levels remain high; however, our market has always sustained a fairly high market time compared to markets in the States. What's very exciting to see is the quality of the new inventory. The Ritz-Carlton, Four Seasons, Discovery Land Corporation, Ohana Real Estate and other name brands are en- tering our market with truly spectacular offerings where no detail is spared in design, construc- tion and service. It's a very exciting product coming to our market. Tell us about the types of properties in your mar- ket and which are most popular. BH: The properties we sell are within luxury gated devel- opments filled with amenities. Cabo isn't just a real es- tate investment, but, rather, a lifestyle investment. When owners come to Cabo, they want to play, so many of the homes we sell have amenities such as a golf course, beach club, gym and fitness center, in addition to restau- rants and services galore. Mexico offers such a beautiful year-round climate that people want to be outside and active, and most of the homes we sell come with access to these exciting amenities. What types of buyers do you work with? BH: While most of the clientele we service are Ameri- cans, it truly depends on what the need is. For example, many of our buyers are Americans from the West Coast or Texas. Wherever direct flights come in from, we get {Global Spotlight} Cabo: Taking Luxury to a Whole New Level

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