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Who: Baby boomers are already starting
to buy in Baja. These boomers will hold the largest
financial clout of any demographic in the history
of the world. The baby boom generation is a demographic
term for the population born between 1946 and 1964.
Data from the 2000 U.S. Census estimates that the
group that holds the "boomer" moniker is made up
of at least 82,826,479 individuals. The members
of this group range from 42 to 60 years old, which
means this demographic behemoth will start leaving
the workforce in approximately five years, they
control more than $7 trillion in wealth, own 77%
of all financial assets in America, and represents
50 percent of all discretionary spending power.
What: Homes in
Baja California are the closest, warmest, least
expensive, easily accessible, and friendliest
destination for Americans and Canadians. Destination
spots Hawaii and Palm Springs are usually 4 times
more expensive.
Where: The Baja
Peninsula is starting to explode with growth.
Of the many developments there are very few that
offered everything I wanted: high quality, great
location, safe, easily accessible, highly reputable,
American title insurance, American financing,
large American corporate involvement, the best
amenities, and a good investment.
When: In the new
village that is being built, there will be 9 Phases
of construction. Phase 1 is sold out. Phase 2
sales started in Late 2005. I bought last year.
Why: In 2005 I
closed my brokerage and joined Prudential California
Realty, partly because Prudential has always been
forward thinking with emerging markets, especially
in the Baja peninsula. Basic economics and demographics
show this. Baby boomers will dictate the next
housing boom, and it's happening in Baja, and
it will be Central Americas largest housing boom.
Large blue-chip American and International companies
are coming into Baja for business for a good reason.
How: Purchasing
was easy for me. When researching for a second
home, a retirement home, or investment property
in a foreign country, you need to be aware that
it can be very challenging. Title, vesting, insurability,
and financing is usually non-existent, and you
need to ask about these vital items. However,
the home I bought in Baja is just a few hours
north of La Paz, and is on the beach. Stewart
Title offers title insurance. GE
Capital offers financing. Deutsche
Bank is providing ownership through a trust,
and once I close escrow, insurance giant Aon
provides the HOA insurance. The developer is Canadian,
the architect is the famous Duany
Plater-Zyberk & Company, AND all utilities
were installed by the Mexican Government (yes
indeed).
I bought a home for just under
$300,000, and am about 150 feet from the beach,
150 feet from an 18 hole golf course, 100 feet
from a new beach club about to be built, and my
front door is a 10 minute drive to an International
Airport serviced by Alaska
Airlines. The flight from Los Angeles is an
hour and a half. There is special emphasis placed
on environment protection, and my home will be
furnished by mid-2006. My wife and I saw our home
under construction in August, and here are some
pictures of our home, as well as pictures of some
of the details. If you can make the trip then
you are welcome to stay at my place. Just let
me know when you want to visit.
If you are interested in a DVD
and printed information, please click
here.
Thanks,
Michael Bell
Broker-Associate
Prudential California Realty Estates Division
direct 626.796.4100
www.MikeBellTheRealtor.com
Prudential California Realty
focuses on protecting the interests of our clients
at all times. We adhere to the strictest of ethical
guidelines and always place the interests of our
clients ahead of the interests of the organization.
In Mexico, as in Southern California, we adhere
to standards that will make every associate and
employee of the organization proud of the company
they represent. With international real estate,
certain disclosures are required. California requires
me to make the following disclosure for California
residents. This disclosure is provided in compliance
with CRS Section 10249.9, California Statutes:
WARNING: THE CALIFORNIA DEPARTMENT OF REAL ESTATE
HAS NOT EXAMINED THIS OFFER, INCLUDING, BUT NOT
LIMITED TO, THE CONDITION OF TITLE, THE STATUS
OF BLANKET LIENS ON THE PROJECT (IF ANY), ARRANGEMENTS
TO ASSURE PROJECT COMPLETION, ESCROW PRACTICES,
CONTROL OVER PROJECT MANAGEMENT, RACIALLY DISCRIMINATORY
PRACTICES (IF ANY), TERMS, CONDITIONS, AND PRICE
OF THE OFFER, CONTROL OVER ANNUAL ASSESSMENTS
(IF ANY), OR THE AVAILABILITY OF WATER, SERVICES,
UTILITIES, OR IMPROVEMENTS. IT MAY BE ADVISABLE
FOR YOU TO CONSULT AN ATTORNEY OR OTHER KNOWLEDGEABLE
PROFESSIONAL WHO IS FAMILIAR WITH REAL ESTATE
AND DEVELOPMENT LAW IN THE COUNTRY WHERE THE SUBDIVISION
IS SITUATED.
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