3rd quarter market report from Los Cabos Agent: Someone you can trust

Once again as Nick Fong, the founder and licensed real estate broker lives by the motto ‘’Someone you can trust’’, he’s ready to reveal the 3rd quarter 2019 market report.  It was a really busy summer!  With 391 closings from which a hundred and fourteen were houses, a hundred and two were condos and a hundred and seventy five were lots, the third quarter was amazing!  Read further to uncover the efficiency of Los Cabos Agent with this amazing 3rd quarter of 2019 market report.

3rd quarter 2019 market report

Nick Fong, the founder of Los Cabos Agent, is passionate about revealing all of the wonderful aspects of Los Cabos.  Every month, he creates new videos to answer as many of your questions as possible.

From July 1st to September 30th, 391 condos, houses and lots were sold, with a list volume of $119.2 million USD!  The sold volume was $106.7 million, with an average list price of almost $305 thousand dollars and an average sales price of $273 thousand dollars. These two last numbers represent an average sales price to the listings offered in Cabo throughout the year.

But what about each of the property types?  In condos, 102 units were sold. The list volume was $35.2 million USD with a sold volume of $32.6 millions. The average list price was $345 thousand dollars, and the average sold price was $320 thousand dollars.  Hence, making with this more than a 98% profit from the original sale price.

Houses

In this 3rd quarter, 114 homes were sold. The list volume was almost $64 million. Here, the average list price was $560 thousand dollars and the average sold price was $502 thousand dollars, which gives us an average sales price to list price of 89%.  That means there’s some room to negotiate.

Lots

Also, 175 lots were sold. The list volume was $20.1 million USD and the sold volume was of $16.7 million USD. The average list price ended in $115 thousand dollars, and the average sold price was $96 thousand dollars.  Land in Cabo is very popular these days.

To sum things up

177 went under contract in this busy summer season!  60 houses, 56 condos, and 61 lots. The list volume is almost $92.4 million USD with an average list price of $522k and 289 average days on the market.  Really, our numbers grow bigger and steadier every time!

About Medano Beach

‘Playa el Medano” offers tourists and visitors from all around a refuge full of natural beauty and aquatic tranquility.  Find that this exotic place in Mexico is more than a beach! It offers a huge amount of options, including water skiing, tourist shops, and water boat rides.  There are plenty of options for you and your family to enjoy this famous place.

Medano Beach is the center of the tourist activity in Cabo San Lucas.  This area is home to the most exclusive resorts and boasts in its beachfront a handful of palapa-shaded bars and restaurants for you and your family to enjoy.  The beach abounds with people looking to have a good time, as it is the go-to location for water-based activities.  It’s known that everyone loves spending time at the beach, and this is the perfect place to do so. There you can rent a kayak or a paddleboard to have an awesome time in a great place like this beach.  Discover Medano Beach in Cabo San Lucas!

Los Cabos real estate

Many Americans, Canadians, and people from other countries choose to make Los Cabos, Mexico, their home or vacation home.  So, discover how to purchase your dream home in Los Cabos, Mexico by inquiring with the top Real Estate Broker in Los Cabos: Nick Fong, who’s been featured many times on HGTV’s Beachfront Bargain Hunt.

See Nick Fong in action on his Los Cabos Agent YouTube Channel.  His videos are posted on the Los Cabos Agent VLOG, where you can read a short, yet in-depth post.  Below is an example of one of Nick Fong’s Los Cabos Agent videos:

Visit Los Cabos soon

Thank you for reading 3rd quarter market report from Los Cabos Agent: Someone you can trust, written by Greg Hixon of RE/MEX Image.  Be sure to read other posts about Los Cabos on the Los Cabos Agent blog. There, learn about the many wonderful aspects of Los Cabos, Mexico, from blog posts like this.

Best season in Cabo is here! Come enjoy the great weather at Land’s End

The first days of October are where the high season begins in Cabo, and the reasons are plenty!  For one, the weather still is warm enough to be out at the beach comfortably taking the sun. This advantage gives an opening for many events to happen and bring in even more visitors from around the world.  Keep reading and discover when’s the best season in Cabo and why!

Given the great weather that the last days of summer give, it’s the perfect time for many events and festivals to happen in Cabo.  First, you’ll have the world-famous Bisbee’s fishing tournament. Also, Jimmy Hagar’s birthday is this month!  Well known for being part of the famous rock band Van Halen, this rockstar loves spending his time in Los Cabos to party and play in different venues.  These are the kind of examples that launch the high season in Los Cabos, and most of all in the real estate flow and values.

Nick Fong from Los Cabos Agent

Nick Fong is a licensed real estate broker from Chicago, Illinois. He has been in Cabo since 2004 and is the founder and owner of Los Cabos Agent.  Also, he has a passion to serve his clients that has reaped wonderful benefits. The work ethic and knowledge of Nick has earned him the respect and honors of being Cabo’s #1 Real Estate Professional.  Nick and his team of agents are prepared to serve both buyers and sellers in Los Cabos not just today but always. Furthermore, and going by his motto: someone you can trust he’s ready to give you all the info you need to know about high seasons in Cabo, starting from Los Cabo’s Marina in La Terminal.

A bit more about La Terminal

A lot of water-based activities start and finish in this place.  It’s the main spot to be if you want to enjoy the full Cabo experience.  Find there the Marina Gourmet market: seafood, farm and grill stations, plus a full mixology bar.  This is the way the only luxury marine terminal welcomes you in Cabo. With restaurant and bar excursions, day excursion and marina visitors, the fun doesn’t have to end!

Also, Los Cabos Agent choose this place to celebrate the annual client-appreciation event, when more than 100 clients gather around and have fun in this beautiful place!

Medano Beach

But wait, that’s not all!  Besides all the fun you can find in La Terminal de Cabo if you walk a few steps on to sea you’ll get to Medano Beach.   The pristine and bright blue image of this astonishing attraction holds a unique culture that remains true to the roots of Mexico.  This is exactly what keeps bringing beach lovers and adventurous travelers to this place. The beach is perfect for families and friends of all ages, and it promises an unforgettable experience.  It’s a very colorful place, excellent for photographs.

Furthermore, Medano Beach is the best place to do water-based activities in Cabo San Lucas.  Ranging from getting a ride in kayaks and jet-skis to using paddleboards. Also, added to these activities its offered parasailing tours on the beach.  Undoubtedly, it allows the adventurous to experience incredible views of Land’s End from hundreds of feet in the air. This and many more thing are waiting for you in this heavenly place, called Medano Beach and La Terminal de Cabo.  Enjoy without limits the best season in Cabo.

Los Cabos real estate

Many Americans, Canadians, and people from other countries choose to make Los Cabos, Mexico, their home or vacation home.  So, discover how to purchase your dream home in Los Cabos, Mexico by inquiring with the top Real Estate Broker in Los Cabos: Nick Fong, who’s been featured many times on HGTV’s Beachfront Bargain Hunt.

See Nick Fong in action on his Los Cabos Agent YouTube Channel.  His videos are posted on the Los Cabos Agent VLOG, where you can read a short, yet in-depth post.  Below is an example of one of Nick Fong’s Los Cabos Agent videos:

Visit Los Cabos soon

Thank you for reading Best season in Cabo is here!  Come enjoy the great weather at Land’s End, written by Greg Hixon of RE/MEX Image.  Be sure to read other posts about Los Cabos on the Los Cabos Agent blog. There, learn about the many wonderful aspects of Los Cabos, Mexico, from blog posts like this.

getaway in cabo, los cabos agent, nick fong

A girl’s getaway in Cabo: Girls just wanna have fun!

If you and your friends are planning your next trip because “girls just wanna have fun,” then Cabo is the right place for you.  Deciding is always a hassle, but be assured that this place is the perfect choice for you and your girlfriends to hang out and have a girl’s getaway.  The cool thing is, there are so many great things to do, that your only problem will be time.  So, make your trip as girly and fun as you wish!  Fun for girls is everywhere around Cabo.  So, be prepared to see the beauty that this coastal region has to offer.  And above all, set up your plans for your next girl’s getaway in Cabo!

Activities for a girl’s getaway in Cabo

Cabo offers incredible opportunities for adventure for you and your girlfriends.  If you’re feeling the thirst for adrenaline-filled adventures, you’ll find many things to do.  Also, discover the traditions of Mexico around every corner.  With its rich culture and history, and the wonder of the coral reefs, the beaches, and the friendly locals, Cabo is the place to get away and make some incredible memories with your girlfriends.  And, we have something special for you: as Los Cabos Agent’s client, you will get a 20 percent discount when you book your tour with Cabo Sailing.

Famous sunset cruises

Being at the beach gives you an incredible opportunity to witness a beautiful sunset.  Such is this magical moment that everyone gets excited to see it.  Letting yourself experience the emotion of the moment with your girlfriends is what a girl’s getaway in Cabo is all about.  Because of the beautiful natural landscapes ashore and the lighting, the ambiance is perfect.

This is exactly what the cruise tours offer, for you to be closer to the action while you are pampered with dinner and drinks.  Everything is included with your boarding pass!  This is definitely an experience that should be part of your plan for your next girl getaway in Cabo.  You can even take a yacht out for a more luxurious tour with only you and your girlfriends.  Just book a sunset cruise and you’re ready to live a one-of-a-kind experience.  These cruises make their way toward Lover’s Beach and the Arch of Cabo San Lucas.  You and your friends better are ready to be amazed.

See the whales on your getaway in Cabo

Another ‘’girlfriend-friendly’’ activity, and one of the most famous is whale watching.  If you happen to be visiting in the winter, don’t miss your chance to go on one of these wonderful tours out on the Sea of Cortez.  This truly is an amazing event of nature where these whales seek warmer waters during the colder months.  Following these currents, they find Los Cabos as their breeding ground.  Some of the tours offered in town let you see these huge mammals closely.  At the same time: what’s wrong with a little party time?  Enjoy the unlimited bar, served by the tour boat’s crew. Don’t miss out on this unique opportunity!

Snorkeling and Scuba diving

Cabo is one of the few places in the world where you can find such a biodiversity.  Here you’ll be in the perfect snorkeling and scuba diving spot.  Find hundreds of plants and marine animals along the coral reef.  This reef in itself is a natural wonder.

Among the species there, you’ll see the balloonfish, trumpetfish, Cortez angelfish, and moray eels.  Even the world-famous ocean explorer Jacques Cousteau once described the Sea of Cortez as the “world’s aquarium.”   Furthermore, you can enjoy year-round snorkeling adventures in most of the Cabo region.  So, come and enjoy the calm and warm waters of the Sea of Cortez.  And, sail out to sea and find the perfect spot to snorkel!

Stroll around town

Cabo San Lucas is filled with alluring sights, captivating sounds, and rich flavors from many cultures. You can either walk on your own or take a guided tour of the city as you find yourself between among artisans and boutique shops.  Hence, find skilled glassblowers and talented weavers who make gorgeous works of art.  Without a doubt, you’ll find a beautiful souvenir for the people close to you.

Los Cabos real estate

Many Americans, Canadians, and people from other countries choose to make Los Cabos, Mexico, their home or vacation home.  So, discover how to purchase your dream home in Los Cabos, Mexico by inquiring with the top Real Estate Broker in Los Cabos: Nick Fong, who’s been featured many times on HGTV’s Beachfront Bargain Hunt.

See Nick Fong in action on his Los Cabos Agent YouTube Channel.  His videos are posted on the Los Cabos Agent VLOG, where you can read a short, yet in-depth post.  Below is an example of one of Nick Fong’s Los Cabos Agent videos:

Come soon for your girl’s getaway in Cabo

Thank you for reading A girl’s getaway in Cabo: Girls just wanna have fun!, written by Greg Hixon of RE/MEX Image.  Be sure to read other posts about Los Cabos on the Los Cabos Agent blog. There, learn about the many wonderful aspects of Los Cabos, Mexico, from blog posts like this.

cabo tours, camel riding in cabo, los cabos agent, nick fong

Guided Cabo tours: Leave it to the professionals for the time of your life

With so much to do here in Los Cabos San Lucas, it can be complicated sometimes to decide where to go or what to do.  Trusting the local experts is the ideal way to solve all your stress letting them show you all the best sights in Cabo.  Some of the world’s greatest wildlife adventures and pristine beaches are from there.  You must be aware that if you go without knowing being prepared you’ll miss a lot.  Fortunately, Cabo is a tourist town full of professional tour guides that will always be happy to help you.  Read further on through this post and find the best Cabo tours!

The Best Cabo tours to join

Let the professionals guide you through the best sights and adventures there are to experience in Cabo.  There are plenty of activities waiting for you, and sometimes time is not enough to plan everything through.  That is why letting yourself go to the hands of a tour guide, professional of Cabo is the best way to live these adventures.  Read on and find here a list of the best Cabo tours.

Boat trips

We can say that Venice and Los Cabos are all about water. The only significant difference is that the water goes through Venice, while in Cabo it washes around. That can only mean that most of the great landscape experiences are going to be on a boat.  Thanks to boat tours you can enjoy visiting the best beaches with unbelievable ocean views. With the most diverse and incredible wildlife in the world, this national ocean park is a whole experience.

Cabo tours to the Arch at Land’s End

If you’re in Los Cabos, you must visit the Arch at Land’s End.  This is not only a great place to visit but it’s also the main landmark of Los Cabos.  Not visiting this place is like you didn’t go and visit the city itself.  This place is called ‘’Land’s End’’ because if a line is drawn from this point to the south, the next portion of the mainland it hits is Antarctica.  Definitely, this is another meaningful place to be with.  Ask around town and find a professional who can guide you and show you through this amazing place.  This also is a place you can only get by boat, just take one from the Cabo’s marina and enjoy the trip, take some pictures.  There’s nothing as romantic the sight of this setting of a landscape in the back.

Sunset cruise

There’s more relaxing than watching the sunset, and there are plenty of places to get a great view of one in Cabo.  This is why one of the best choices to enjoy this moment would be to take on a Sunset cruise.  The gentle waves of the Pacific Ocean and the Sea of Cortez provide a peaceful backdrop to the colorful setting of the sun behind the horizon.  Imagine this with some drinks, snacks or even your own private boat!  Enjoying a sunset out on the water is one of the best ways to enjoy  Cabo under the guidance of a professional.

Walking Cabo tours

There’s also an option that doesn’t involve boats and is a walking tour.  You have two options:  make it through the city of Cabo San Lucas or of San Jose del Cabo.  Nothing better than authentic Mexican cuisine when you are hungry. There is a well-known food tasting tour in Cabo San Lucas downtown. Which includes Mexican food like quesadillas and tacos for three hours of tasting. You can also enjoy the sounds of Mexican culture while eating. Your valuable tour guide will provide you with the history and culture wisdom of Cabo.

Don’t forget there’s also the option of taking some cooking classes if you want to deepen in the Mexican culture. So you can bring back home some cuisine culture back with you.  But, if you want to dig in the local history then San Jose and Cabo San Lucas walking tours are a must.  With stories about legends and pirates, you will learn a lot.  Thanks to the tour guides you can ask questions as much as you like, they will all answer them no problem.

Cabos’ Marina walking tour

Touring around the Marina of Cabo San Lucas it’s a must-do on every list.  Either it is during day or night; the marina is one of the iconic stops you can’t miss during your stay in Los Cabos.  Be delighted by its charm, Mexican enchant and awesome views, there are many things to see around, just don’t get lost!  Also, you shouldn’t forget to take a photo of this iconic place.

Coastline Cabo tours

Prepare to take a guided tour for a unique perspective of the coastline of Cabo. You can take the tour by horseback or ATV. These ones are so popular that some of them offer to pick you from your hotel. You can enjoy the views of the Sea of Cortez with the majestic whales. Spend several hours enjoying the rocky canyons of the Baja desert.

Horseback riding

For those who find the presence of animals relaxing, Cabo has horseback tours across gorgeous beaches and desert hills to meet your needs.  These tours take you along the Pacific Ocean or the Sea of Cortez as you ride a tamed beautiful horse matched to your riding ability. Of course, most of these tours include a quick lesson before getting to it.  Don’t worry about being a newbie in horseback riding.  The rides are generally slow and gentle, making them a nice, relaxing way to see the beautiful landscapes in and around Cabo.  You will undoubtedly find an ample variety of options and scenarios to enjoy a romantic trip with your loved one.  Find fun tours or just enjoy the sun laying on the beach together,  the romantic options are endless and that is why you can easily have a romantic getaway in Los Cabos.

Besides horse riding, you can also choose a less conventional option riding a camel. These special camel rides let you stop in cultural site centers where you can taste some locally made Tequila and take some pictures of the most beautiful sights.

Whale watching tours

During winter and early spring, it’s the perfect time for you to plan a visit to Cabo.  You’ll be coming down during the prime whale-watching season.  From December to April the Sea of Cortez becomes a birthing spot for the Humpback and Gray whales during this time.  These whales are raised in the cold waters of the Arctic sea during the summer.  And then, they’ll make their way down to Baja California to nurse their young.  So, don’t miss the opportunity to go to Cabo whale watching.  And, see them swimming freely in the warm waters of the Sea of Cortez.

This is what makes this activity one of the most relevant in Cabo. You’ll also have the opportunity to watch some sharks, especially hammerheads and many more fishes that migrate from the north pacific.  These sea creatures come to warmer waters of Cabos to mate and nurse their young.  You may have the opportunity to watch some baby whales.  There are plenty of eco-friendly Cabo tours.  These crews of the ships are trained to not interrupt the mating season and avoiding dangerous situations for the animals and for you as well.  When it’s possible they turn off the engine and use the sails to prevent disturbing the creatures.  Because of this, you can have an amazing experience with the whales without disturbing the natural course of life.

Scuba-diving tours

Pufferfish, cornetfish, trumpetfish, moray eels, several varieties of rays, seahorses, blennies, and many more are the creatures live in the great coral reef out at Lands End.  A frequent stop for underwater photographers and professional scuba divers. That’s what makes Cabo the top-rated scuba and snorkeling locations in the world.  Being a beginner in these waters might sound intimidating. The truth is there are a lot of ocean guides and certified scuba instructors who are willing to help you get into the ocean and experience the rich depths of the Sea of Cortez.  If you want to see the best ocean sights they can also help you find the best spots in each season. It doesn’t matter if is the soft tropical reef fish, the mighty sharks or the sea lions. All of that can be found here in Cabo.

The only way to have a complete experience is with the help of a guiding tour. They never disappoint and always leaves you with great stories to tell.

Camel back riding on the beach

Camel riding in Cabo has become a poplular beach activity.  It’s an unforgettable journey through the desert, where you’ll get close and personal with nature.  Experience a physical and emotional journey that embraces you with the vastness of the desert.  Explore the arid and amazing landscapes of the south-Baja desert, surrounded by the astounding views of the Sea of Cortez.

Deserts are a fascinating ecosystem where life finds its way to manifest in the very harsh surrounding.  It’s because of this that a unique environment blooms to be seen, and what better way to enjoy than on the back of endemic species such as the camel?  In this experience, the elements of nature combine beautifully to give you a captivating landscape.

Los Cabos real estate

Many Americans, Canadians, and people from other countries choose to make Los Cabos, Mexico, their home or vacation home.  So, discover how to purchase your dream home in Los Cabos, Mexico by inquiring with the top Real Estate Broker in Los Cabos: Nick Fong, who’s been featured many times on HGTV’s Beachfront Bargain Hunt.

See Nick Fong in action on his Los Cabos Agent YouTube Channel.  His videos are posted on the Los Cabos Agent VLOG, where you can read a short, yet in-depth post.  Below is an example of one of Nick Fong’s Los Cabos Agent videos:

Visit the best Cabo tours soon

Thank you for reading Guided Cabo tours: Leave it to the professionals for the time of your life, written by Greg Hixon of RE/MEX Image.  Be sure to read other posts about Los Cabos on the Los Cabos Agent blog. There, learn about the many wonderful aspects of Los Cabos, Mexico, from blog posts like this.

winter in cabo, Cabo whale watching, los cabos agent, nick fong

Five great things to do during winter in Cabo

Planning to go to Los Cabos San Lucas during winter?  No problem, in fact, it’s a great idea!   Because of the plenty number of activities, you can enjoy while being here, it sure is the perfect plan.  You don’t have to worry about the weather as it never gets really that cold down in Cabo.  Thanks to the development of the tourism business and the delightful landscapes that the city provides are why Los Cabos is a great place to travel to during the winter months.  Read on and learn about the things to do during your winter in Cabo.

Although most of the people would rather travel during summer, especially to an incredible beach place like Los Cabos, winter still is a great season to visit this place.  Many American families will travel when their kids are not in school or when work allows some days off.  If that’s a reason for you to only visit in winter, don’t worry.  Although you may have to pay higher prices, and the weather won’t be the sunny warm beach-like expected weather, there’s plenty for you to do.

What to do during winter in Cabo

It doesn’t matter if you are traveling by yourself, with your family or your special other, there are lots of great activities you can perform during the winter season.

Whale-watching tours

One of the most popular activities here in Cabo is to go whale watching, especially in wintertime. The main reason why people look for these majestic creatures it’s due to its beauty, and because they usually live in the deep sea it may be usually hard to see them.  Nonetheless, with a little planning, you can get close and personal and enjoy the comfort of a yacht.  It’s in winter season when whales come close to the Baja bays to mate and birth their young.  Be sure to be on time to book a whale watching tour before they sell out!

Visit the beach

You may think that in the wintertime going to the beach is not the best idea, but luckily in Cabo, it can be.  Thanks to the temperature that is often in the upper 70s and 80s, that makes the ideal weather to appreciate the sand and waves.  It doesn’t matter if you prefer to lie down on the sand or if you want to try something more active like surfing or snorkeling, there are choices for every beach enthusiast.

Some of the most popular options if we talk about beaches are Chileno Beach, as its calm waters make it ideal for snorkeling.  And also, Medano Beach, another great option preferred by many locals.  If you are looking for a relaxing experience then Palmilla Beach is your best choice, it provides a beautiful ocean view. Be careful too, look for safe waters to swim, sometimes the water has some strong currents.  With a little planning, you can take favor of all that Cabo has to offer in the winter months, from breathtaking ocean experiences to relaxing on the beach.

Christmas on the beach

There may not be a white Christmas here, but it doesn’t mean you cannot enjoy the holidays. There are multiple holiday parties and festivals that make Cabo San Lucas a decorated town for the special season.  You can also find a lot of parties for New Year’s Eve, which always includes a wonderful spectacle of fireworks. Also, one famous resort is known for its annual costume party on New Year’s Eve, be prepared and have lots of fun, even during winter in Cabo.

Try fishing

Are you a fishing enthusiast?  You’re in luck.  Deep-sea sport fishing is popular in the area with game-like tuna, snapper, marlin and more available. If you want something more to yourself you can also charter private boats for the day. Winter is definitely when fishing is at its peak in Cabo.

For more great information about fishing in Cabo, take a look at Cabo San Lucas Fishing: The Angler’s Lowdown.

Hike the Cabo landscape

Even in winter Cabo San Lucas has a pleasant climate throughout the year, which allows mountain hiking activity enjoyable. The Sierra de la Laguna is located on the outskirts of Cabo San Lucas, giving to all nature lovers fascinating scenes to enjoy while hiking.  Other activities in the mountains such as biking, horseback riding tours, and ATV trails are also available.  So there are no excuses about not being able to have fun during winter in Cabo.

Los Cabos real estate

Many Americans, Canadians, and people from other countries choose to make Los Cabos, Mexico, their home or vacation home.  So, discover how to purchase your dream home in Los Cabos, Mexico by inquiring with the top Real Estate Broker in Los Cabos: Nick Fong, who’s been featured many times on HGTV’s Beachfront Bargain Hunt.

See Nick Fong in action on his Los Cabos Agent YouTube Channel.  His videos are posted on the Los Cabos Agent VLOG, where you can read a short, yet in-depth post.  Below is an example of one of Nick Fong’s Los Cabos Agent videos:

Visit Los Cabos during winter soon

Thank you for reading Five great things to do during winter in Cabo, written by Greg Hixon of RE/MEX Image.  Be sure to read other posts about Los Cabos on the Los Cabos Agent blog. There, learn about the many wonderful aspects of Los Cabos, Mexico, from blog posts like this.

Learn more with a mortgage pro: Bob Phelps From Global Mortgage answers interesting questions

Los Cabos Agent it’s someone you can trust and Nick Fong the founder of Los Cabos Agent is excited to help you out make your dreams of having a home or land in Mexico!  Within his concerns to give you the best assistance you can get,  he recently,  got lucky enough to have the opportunity to chat with Bob Phelps from Global Mortgage.  This is a cross-border lending firm.  Keep reading throughout this post and learn all you have to know about loans and mortgages in Mexico.

Global Mortgage in Los Cabos San Lucas

As a cross-border lending firm, originally based in the U.S.  Global Mortgage and the Loan expert Robert Phelps answered some of our questions in this very instructive conversation.  Find here relevant information for you as a buyer.  Going from the rates and requirements to the pre-qualifying and payment processes we covered all!  We have this and more waiting for you to learn and be ready on your next purchase of a piece of heaven in Mexico.

 What’s Global Mortgage all about?

First of all, know that it’s a crossed border company.  As such it follows all the rules and regulations in the subject of mortgage the United States and of course in Mexico.  The standard that this company manages is one that abides all the laws and rules in Mexico, so you don’t face any problem when owning property there.  They’re listed as a financial institution in Mexico, not an easy to do, but an achievement for the sake of the clients.

Types of loans in Mexico

Knowing the needs of the costumers, they’ve made it very simple.  First, you have the 15-year fixed loan, for new and existing properties.  The other option is the cash-out refinancing.  With people that already own a property in Mexico this cash-out option works when you’re looking to remodel your already owned property.  Also as the value of your home increases over time and you might be looking to move to a bigger house, this works too.  They definitely can work out a cash-out refund in these homes.

Parameters and guidelines

They manage very strict guidelines but competitive entrance rates for the loan.  The guidelines are not only set for US standards but also for Mexico standards.  Hence, they try to make it almost the same as if you’re trying to take out a loan in the US.  They’ll even have the tabulation showing the differences between Mexico’s and the US guidelines.  This way every client can see how it works and better yet how they work!  No doubts about their services.

Acceptance for a loan in Global Mortgage

It all starts with a pre-qualifying process, the same as in the US.  More specifically, seven pieces of information will be asked from you.  From here, they’ll be able to make a projection of your credit and then they’ll follow with the pre-qualifying process.  To prequalify they’ll take a glance at your FICO score and see your ability to repay the loan.  That’s all there is, they’ve made it simple as that.

Documents needed for a loan

The documents required to get a loan from Global Mortgage are the same as in the US, except for some documents that might require a valid passport.  As for the documents, the company asks for, just goes for the report of tax returns and stability in your job.  For this, they’ll be looking for verification employment.  Nothing more than just the regular things to look at when trying to get any normal loan option!

Prepayment penalties?

Prepayment penalties are the extra fees charged when you try to closure a loan by paying everything owed before the established time.  As for Global Mortgage, you’ll find zero prepayment penalties since day one!  Even if you decide to pay the loan a few months later, there’ll be no penalties or extra charge for the services.  Talk about giving the client the advantage and commodities they deserve!

How long does it take to close a loan process?

It depends, in Mexico, it can go as short as 60 days but the average is around 200 days for the process to close before the loan is given.

Closing costs

Closing costs are the fees that take place due to taxes and several government paperwork process expenses.  In Mexico, some of them can get really high on costs.  Global Mortgage tries to keep it as low as possible, being only two to three percent of the loan they lend.  They’re not going to let you walk away from your dream house over a few bucks!  The first year is usually the most expensive, but it only gets better over time.  So they’ll try to give the clients the ability to pay every fee needed to purchase their perfect home.

Loan amounts

The minimum right now is a hundred thousand dollars in a loan in Mexico.  The maximum amount that is usually given goes as high as two million dollars!  Anything above that can lend too, no problem.  They’ll just go over the specific case to check a bit deeper into the pre-qualifying process.

Debt to income ratio

First of all, what is it?  This is a percentage that you can get taking into account your incomes, and all of your debts, with a specific formula giving a percentage.  This percentage can be translated as the ability to repay the loan.  As you can imagine, the lower the percentage, the better!  Global Mortgage will lend summed to this ratio a 35% with some exceptions, having to look at each specific case for this.

The future of loans in Mexico

Global Mortgage has been in Mexico for two years now.  But they surely have a 5, 10 and 15-year plan for the company besides the yearly goals.  And 3 years from now, they expect to be covering all of Mexico!

We thank Bob for taking time out of his schedule to answer all these questions for us.  If you have any questions for Bob, give him a call at 1 (866) 509-4657 or you can send him an email at info@globalmortgagemexico.com.

And don’t hesitate to reach out to Nick Fong, someone you can trust, with your real estate-related questions as well.  We look forward to hearing from you!

Los Cabos real estate

Many Americans, Canadians, and people from other countries choose to make Los Cabos, Mexico, their home or vacation home.  So, discover how to purchase your dream home in Los Cabos, Mexico by inquiring with the top Real Estate Broker in Los Cabos: Nick Fong, who’s been featured many times on HGTV’s Beachfront Bargain Hunt.

See Nick Fong in action on his Los Cabos Agent YouTube Channel.  His videos are posted on the Los Cabos Agent VLOG, where you can read a short, yet in-depth post.  Below is an example of one of Nick Fong’s Los Cabos Agent videos:

Visit Los Cabos soon

Thank you for reading Learn more with a Global Mortgage pro, written by Greg Hixon of RE/MEX Image.  Be sure to read other posts about Los Cabos on the Los Cabos Agent blog. There, learn about the many wonderful aspects of Los Cabos, Mexico, from blog posts like this.