Welcome to the latest episode of The Nick Fong PODCAST – he’s the founder and broker of Ronival Real Estate, which is now the number-one real estate brokerage in all of Mexico. Today, Nick reveals the Market Report for the first quarter of 2022. Watch the video to just how pleased he is to present this market report. Joining Nick is his two top specialists: Sales Manager Greg Willis and Operations Manager Sergio Benitez.
Nick Fong and his two market specialists answer an important question: whether the market is similar to that of Canada and the United States. After you look at the report, you’ll understand that if you see a property you are interested in, don’t pass it up and make an offer! Continue reading to uncover this latest report. Then, see more about why this is a great time to buy Baja California Sur real estate.
First quarter of 2022 – This year so far
So far this year, it’s been quite a surprising first three months! As such, the market in Baja Sur has exceeded all expectations in a spectacular fashion. Compared to last year, the market results have been much better so far. That says a lot since last year’s expectations were exceeded too – last year was a phenomenal year according to Nick.
Now heading into the second quarter, the market is very strong. And, there’s no end in site. Nick and his team are really looking forward to the rest of 2022. They handle real estate throughout Baja California Sur – Los Cabos, Loreto, La Paz, Todos Santos, and many more amazing cities throughout the area.
For an example of how amazing the market has been this year so far in 2022, offers are submitted the same day or the next day when they are listed for sale. Additionally, more than one offer is submitted for every property listed. That has been the case so far this year. As Greg Willis mentions to Nick, these market conditions have never been seen before in Baja California Sur.
Current seller’s market in Baja California
Greg Willis talks about the decreasing inventory in Baja California Sur. He compares it to the back side of a mountain, as he explains to Nick. Both Americans and Canadians, along with people from other countries, are buying up real estate faster than it can be produces and faster than people are selling their current properties. This applies to houses, condos, and lots that are ready for building a home, a development, and a community.
In the United States, the NAR or National Association of Realtors defines a seller’s market like this: A market condition where there’s less than six months of inventory. When you apply this metric to the current market in Baja California Sur, Greg tells Nick that there’s less than five months of real estate inventory throughout the region. On top of that, it’s decreasing rapidly, which means now is the time to buy.
How to deal with multiple offers
First, only submit a counter offer one-at-a-time. If you have any questions about uniqueness with your specific situation, speak with your broker to ensure you follow through correctly. Also, be sure to read through your MLS rules to fully understand them before proceeding.
In these current market conditions, make sure to let your buyers and sellers know about the current crazy market conditions. Proactively, you can prod a new opportunity for yourself, just by taking action on the phone.
As such, don’t take for granted the information and expertise that you have and not sharing it with your previous clients. That would be a big mistake and cause missed opportunities that can be developed simply by communicating on the phone.
Listen to the full episode on Spotify https://spoti.fi/3OqrNXL
Or Apple https://apple.co/3Mn6gNM
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 report for First quarter of 2022. 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.