We went down to Rocky Point on August 25th to see what was happening with Sonoran Sky. For those of you who are not familiar with Sonoran Sky, this is the next resort from the Sonoran Resorts family to hit Rocky Point. It is going to be located next to Puerta Privada.
We decided to go see what was going to happen during these historical lotteries that used to sell out in 4 hours. At this time, the sale market in Rocky Point is closely following the slow down that we are seeing in Phoenix, Arizona. It is “SLOW”. However, being the curious people that we are, we still wanted to see what would happen. To our surprise, the turnout was amazing. Everyone seemed to come down to see what Sonoran Resorts would provide their clients. What is in store for the future of Sandy Beach. They did not disappoint. A resort with an outdoor movie theater, a kids slide, a restaurant that is facing the ocean, and many new upgrades which are not in the current Sonoran Resorts. The prices started out very competitive for 1B1B. They were priced at 259K for a regular 1B1B and 299K for a 1B1B Penthouse. Sonoran Sky definitely came out aggressively to get sales and they ended up selling “HALF” of the resort. During a sales market that is practically dead right now, this resort sold out over “HALF” of the resort. We were very impressed.
We were not going to make a purchase at the Sonoran Sky Resort until our name got called out 5th. It gave us the chance to purchase a 1B1B Penthouse for $299K. We jumped on the opportunity and now we are proud owners of a 1B1B Penthouse on the 15th floor of the resort.
There are several units available now for sale at the Sonoran Sky as they are still not sold out. From experience with owning 2B2B units at Sonoran Sea and Sonoran Sun, the current prices will not provide for positive cashflow through rentals. Don’t be fooled. However, there is a great opportunity to make money on appreciation over the next few years. The Sonoran Sky has taken many of the amenities that have made other resorts popular and incorporated everything into one resort. I LOVE IT. If you are looking for advice on purchases in rocky point, try visiting www.rockypointadvice.com. We are still trying to finish the website but we can definitely be of assistance if you need it on your next big investment in Rocky Point.