Baja North going through a serious downturn

Below is another article that talks about the real estate woes in areas like Rosarito Beach and Puerto Peñasco. It seems these areas have experienced a much higher level participation of real estate investors, or “flippers”, than even our market has seen. These are relatively new, small markets, when compared to Vallarta’s and this is working against them. As well, they tend to consist of nearly 100% American buyers, whereas here in Vallarta we have a very strong national market, even a strong local market that has been buying real estate here as well. Although it is my opinion that the market is currently shifting from a seller’s to a buyer’s market, I just don’t see it panning out anything like this in Vallarta.

www.modbee.com/business

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