Another legend within Pedregal Realty is without a doubt Frank Maury. When he first moved to Cabo 24 years ago, he managed a Café by the Marina called Francisco’s. Though it was a great experience (and where cupid set him up with his wife and partner in crime), Frank has been in the real estate business for the past 19 years with a very a successful career promoting the luxury lifestyle of Pedregal de Cabo San Lucas. Let’s see what he has to say about the market.
Where are you from? Born in Benson, Arizona and came to Cabo from Laguna Beach CA in 1991
In your opinion, what has changed in regards of the real estate market in Cabo? Market continues to be cyclic as all destination vacation areas are, but to me, the biggest change has come from the prospects themselves. They are much more educated in terms of the market, property values, possession of titles and things like that. Vacationers come here with certain criteria in mind for a second home and it’s up to us, the agents, to continue to be good listeners in filling as many of those needs and wants as possible, but also not being afraid to offer alternative options when we see the opportunity.
Frank and his Pedregal pal Marilu Madrid
With all these changes and advances, do you think Los Cabos is still a good place to invest? Cabo will always be my first choice to spend the majority of my time. Its close proximity to major population centers in the U.S. and Canada will continue to cause an upward cycle towards real estate values; the weather, discounting a few months in the summer, makes it a very enjoyable place to live and with the availability of most consumer products, locals can pretty much buy everything they need.
The biggest “driver” in this market however, is with so many people reaching retirement age in the states and Canada and major health care available here now, retirees are not afraid to make Los Cabos, at least a part time living option. I really can’t see any reason to feel anything but prosperity for this area for many years to come.
Speaking of, are there any advantages or things you should consider to retire in Los Cabos? Depending on your nationality, you will want to research certain laws that concern medical coverage. For example, some of my Canadian friends who are retired still have to reside in Canada for a prescribed amount of time each year in order to keep their medical benefit in place. American Medicare, currently, is not recognizable in Mexico so I have a policy that will Medivac get me to the closest U.S, hospital in case of an emergency. But overall the quality of life, the weather, the culture and the cost of living here will continue to make Los Cabos a haven for anyone, regardless of where you come from!
What is your advice to whoever wants to invest in real estate in Los Cabos? Los Cabos certainly has something for everyone and every budget. My advice would be to exercise patience and do your due diligence. Listen to the people who live here and after you reach a comfort level with an agent who you want to represent you, rely on what he or she has to say. Don’t try to do everything in one trip unless that one property presents itself. It took me months just to decide if I wanted to live here full time.
Don’t know about you but I love Frank’s straight answers. As a foreigner living full time Los Cabos, his experience speaks for itself. If you would like to know more about his real estate experience and The Resort at Pedregal Fractional Ownership representation, send him an email to fmaury@pedregal.com