The City of Puerto Peñasco officially welcomed thousands of tourists, who descended on our beaches over Labor Day Weekend, giving the city and its local businesses the much-needed revenue boost as much of the 2020 tourist season has been shut down due to the Covid-19 epidemic.
The sights and sounds of people enjoying themselves and not living in fear was a welcomed sight and relief. Another welcomed sight was the dismantling of the sanitation filter that was located after the overpass just before town. The filter was in place to aid in the fight against Covid-19, but its dismantling is a telling sign that things are finally returning to normal. With the dismantling of the sanitation filter and Puerto Peñasco having its first successful holiday post Covid-19 there is a sense of normalcy returning to our lives.
We are now in Phase VII of the gradual reopening of the city with minimal restrictions in place and it’s having a positive impact on tourism. For example, regular weekends are visibly getting busier because word is spreading that Rocky Point is now open for business so that in return spurs new investment opportunities.
Labor Day Weekend was the pinnacle of the gradual reopening with the numbers of visits easily setting the record for 2020. With cases of Covid-19 slowly on the decline, Rocky Point is setting itself up for a re-birth or renaissance of the explosive investment opportunities that has fueled the local economy for decades.
Before the Covid-19 virus started, 2019 was a major year of growth and expansion for Puerto Peñasco more than in any other year since 2008. Housing starts were up dramatically over the year previous which is a good indicator of the strength of the local economy and shows that investment dollars are flowing into the town through the purchasing an existing home, land/lots and/or building new homes.
Let’s fast forward to Labor Day 2020 Weekend and the same contributing factors such as employment and a strong U.S. economy are all on the rebound which always has a trickle-down effect to Puerto Peñasco. Despite the devastating temporary effect Covid had on the U.S. economy, we have steadily recovered in terms of the stock market and unemployment numbers. In fact, in September the U.S. economy added 9.3 million new jobs in the last three months setting a record for the most jobs added in a three-month span. The health of the U.S. economy has a direct effect on the local economy here in Rocky Point and the good news is the U.S. economy is recovering little by little with each passing new month!
Smart and savvy investors understand that the first half of 2020 was temporary, that the health epidemic will eventually subside, and prosperity will take over in its wake replacing fear. Smart investors realize now is the opportunity to make a move while others are on the sidelines waiting it out. Right now, is the time to pick the low-hanging fruit and become part of the investment community while supplies last.
Prices for land or lots to build a rental home or even your vacation homes are a great value. For example, Las Conchas, which is one of our oldest and most famous beach communities, has ocean view lots in the low $30s. Go a little farther east to Playa Encanto or La Jolla and you are getting more for your dollar with prices for ocean view lots in the low $20s.
Building a new rental property or vacation home on your newly purchased lot is not difficult process or expense! You can build a nicely equipped 3 bed, 2 bath home in the low $100s and a 2 Bed, 2 Bath in the low $80s. Put your property to work and have it start paying you back with the rental income you can will generate. Another option is buying an existing rental home with proven rental income at a discount while supplies last.
About the author: Joseph Sanchez is president of Rocky Point Home Builders a design/build contractor specializing in custom home design, construction and engineered renovations and a real estate agent with RE/MAX Legacy. He resides here in Puerto Peñasco with his wife and three children and is originally from Chicago. For more information email him at firstname.lastname@example.org.
The City of Puerto Peñasco officially welcomed thousands of tourists who descended on our beaches over Labor Day Weekend giving the city a much-needed revenue boost. (Photo courtesy of Rocky Point 360)
Smart and savvy investors understand that the first half of 2020 was temporary the health epidemic will eventually subside, and prosperity will take over in its wake replacing fear.
A welcomed sight was the dismantling of the sanitation filter that was located after the overpass just before town.