In this latest PODCAST – The Nick Fong PODCAST, Nick joins Korey Riggs and Claudia Velo, his two guests from Cabo Mil News. Today’s topic is the real estate market in Baja Sur, which hosts Los Cabos, La Paz, Todos Santos, Loreto, and a few other inviting towns around the state on the southern end of the Baja peninsula.
There’s much to explore this year so you are informed about what to do and what not to do when thinking about selling or buying Baja Sur real estate. Therefore, read on to see exactly what to expect from the 2023 real estate market.
Korey Riggs background
Originally from Tucson, Arizona, Korey Riggs always wanted to learn how to speak Spanish, being just one-hour north of the border. Of course, he didn’t actually learn Spanish until he was 27 years old. In college, he needed to speak a second language to graduate, so that was his calling to finally learn Spanish.
While Kory helps establish and grow various Baja Sur foundations an important one he is involved with assists the children of Baja Sur. As of today, this La Paz foundation has busses running to and from La Paz. Interestingly, the busses for this foundation have been running without pause, all through the pandemic.
Market expectations in 2023 for real estate
Back in 2022, Nick called the real estate market a roller coaster. Although it did grow and it had a positive outcome, it had dramatic ups and downs. Nick said that his Ronival team had gotten accustomed to rapid climbing prices and fast-and-easy sales. Last year in 2022 became a reality check. To explain, the real estate market slowed a bit due to factors like inflation that caused a market normalization.
In the video, Nick, Claudia, and Korey were quite excited to share the 2023 real estate market expectations, as you’ll see. As such, that’s where they started. When they started talking, Nick quickly shared that 2023 will be a great year for Baja Sur real estate.
Nick expects a normal real estate market, which means you actually must work to sell real estate. When he says that, they share a laugh because the market has grown so fast over the last few years that it’s been easy lately. But as we all know, buying and selling real estate takes effort. Now they’re back to reality!
As Nick says, Baja Sur real estate prices will be quite stable all through 2023. He mentions that there will be a reduction in real estate professionals. That’s because they’ll decide against putting in the extra effort required going forward. Also, the normalizing market will cause shifting perceptions now that the real estate boom has slowed down.
How to choose the right broker
Claudia asks Nick in this PODCAST how to pick the right brokerage, now that the amount of real estate professionals has increased in the area. Nick responds by stating just how important it is to work with a licensed agent and broker. Legal problems in real estate can be very costly indeed.
Since it has been such an easy market over the last three years, a few people have been selling real estate without a license. As Nick says, that is quite dangerous to both sellers and buyers. A few of the projects in the area have transpired without real representation. According to Nick, not using a licensed agent is super risky.
Listen to the full episode on
Apple
https://apple.co/3Rbc9Bf
Amazon Music
http://bit.ly/3HzX2hR
Spotify
https://spoti.fi/3Y2d89a
Baja California Sur real estate
Many Americans, Canadians, and people from other countries choose to make Los Cabos and other magical towns in Baja California Sur, Mexico, their home or vacation home. Discover how to purchase your dream home in Baja. Make an appointment with the top Real Estate Broker in Baja: Nick Fong, featured on HGTV’s Beachfront Bargain Hunt.
Since 2010, Ronival has been helping clients find the best homes in Cabo and throughout Baja California Sur. And, they’re highly-skilled negotiators that’ll get you the best price. Whether you plan to buy a property or quickly sell your Baja real estate, they’ve got you covered!
If you’d like to take a tour of a property in Cabo or anywhere else in Baja California Sur, just click CONTACT to inquire. Or, call directly at 619-831-2000. Ronival will be happy to answer your questions You can also schedule a time to show you around this breathtaking location.
Ronival on YouTube
See Nick Fong in action on his Ronival YouTube Channel. Find his videos on the Rovival VLOG, where you can read a short, yet in-depth post. Below is an example of one of Nick Fong’s Ronival videos:
Thank you for reading Baja Sur real estate market 2023: What to expect. Be sure to read other posts about Cabo and Baja California Sur on the Ronival blog. There, learn about the many wonderful aspects of Baja California Sur, Mexico, from blog posts like this.