The sights and sounds of people enjoying themselves and living life again is a welcomed sight as tourists consistently visit Puerto Peñasco each weekend since Labor Day, giving the city and its local businesses the much-needed revenue boost due to the Covid-19 shutdown.
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.
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 were flowing into the town through the purchasing an existing home, land/lots and/or building new homes.
Then Covid hit, but despite the temporary effect it had on the U.S. economy, we have steadily recovered in terms of the stock market and unemployment numbers which trickles down to our southern neighbor Puerto Peñasco. The low-employment and strong U.S. economy will once again fuel the investment growth that has taken place here since 2008.
Another positive indicator signaling a return to normalcy is in October the U.S. economy added an additional 661,000 jobs in September adding a total of 9.9 million new jobs in the last four months overall. 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 with each passing month and so will Puerto Peñasco!
So, what does all this good news mean? Well, first and foremost it means that Puerto Peñasco is open for business. Whether you have dreamed of making an investment, owning property, becoming a property rental manager, building a home, or starting a business now is the time to get off the sidelines and make your move.
Smart and savvy investors understand that the first half of 2020 was temporary, and the health epidemic is subsiding, and, in its wake, prosperity will replace 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 well-priced, 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. Half-acre ocean front lots in Playa Paloma are going for a as low as $45,000 USD!
Building a new vacation home or rental property on your newly purchased lot is not a difficult process or expensive! You can build a nicely equipped 3 bedroom, 2 bath home in the low $100s and a 2 Bedroom, 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.
With so many options for investments available my advice is talk with one of our many licensed real estate agents who can help you navigate the wealth of opportunities available and who find you that perfect lot to build your dream home or help you purchase that existing home.
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.
BEACH PHOTO – The health epidemic was temporary and prices for land or lots to build a rental home or even your vacation homes are a great value. (Photo courtesy of Rocky Point 360)
Malecon Photo – With so many options for investments available talk with one of our many licensed real estate agents who can help you navigate the wealth of opportunities.
House Photo – Building a new vacation home or rental property on your newly purchased lot is not difficult process and less expensive than building in the States.