If your Los Cabos real estate is not selling…
First, you need to know the facts about the Los Cabos real estate market. Fact: MLS statistics show the average home takes one year to sell in Los Cabos. Actually, to be perfectly clear we should say this applies to all of Baja California Sur and to all property types such as condos and land. Seriously if you don’t believe this article then ask your realtor for the current stats in your area. Furthermore, you might be surprised to know that the median sales time could be as long as three years. But this is never your Realtors fault, even if you may think so.
Maybe it is just not desirable at your price?
In the end, it comes down to the selling price. Here’s how it really goes. If this is you please don’t take offense. Most sellers go on line to search comparable properties for sale and then they pick a price they think their properties should sell for. Really who is the listing agent to argue with the seller? For one they don’t want to offend or lose the listing and secondly most times there is little to compare to. Let’s get real people, this is Baja and a CMA means nothing or at most very little! If your realtor is actually lucky enough to find statistics in the area of your property there usually is no information disclosed. Was the sale an arm’s length transaction or were there mitigating circumstances? Such as, a divorce or maybe a spouse died or something in their financial life changed?
Baja California Sur is a Second Home Market.
Los Cabos real estate market is a second home market. This is not the US market or the Canadian market where a 30 or 60-day listings actually produces a sale. Welcome to a second home market…key word…second home. Please remember, a second home is a want, not a need. So please don’t pull the I am losing money card or the Oh, but I paid this $. I will say it again second home market….not a need but an I want. If you want to sell it is just plain time to get over the I am losing money number because frankly, a second home market does not always mean an investment market.
What outcome do you really want?
It is time to be honest, well at least with yourself anyway. Do you need to sell or do you want to sell, there is a difference. If you can afford to have your property on the market, until that once in a lifetime buyer offers your dream selling price, then this article does not apply to you. However, if you really need to sell in a timely manner consider offering seller financing or maybe just a more realistic selling price based on actual recent sales.
The Bottom line is, do you want the best price or a real sale. Only you can decide.
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