For several years, Rocky Point Mexico provided us with that opportunity at a price that we could afford. Unfortunately, it become a luxury that developers quickly recognized as an opportunity to make money. Who can blame them!!! These days, oceanfront condos on Sandy Beach are running anywhere from 200K and up. Luxury one bedroom units have now surpassed the 200K mark. Luxury two bedroom, two bath units are anywhere from 400K to the millions.
So, should we stop chasing the dream? No way….. There are still some developers who have positioned themselves in a way to provide their clients with reasonable pricing.
Los Corales is a new resort in town. It is going to be located along the Mirador Beach. This is where the famous Manny’s Beach Club is located. Before you say anything about the location, I remind you that 5 to 6 years ago, Sandy Beach was nothing more than RVs and a dream. Today, Sandy Beach has taken the plunge and turned into a gorgeous vacation destination.
With La Perla Del Mar resort and now Los Corales going into the Mirador, it looks like we may have another affordable condominium rush. Like everything else, it won’t stay this way. Prices will eventually go up, driven by the market.
So why would anyone look at Los Corales for an investment. For starters, they are priced just right. With one bedroom units starting at 195K and two bedroom units just above 300K, those prices cannot be matched for oceanfront condos. What I like about this resort is the time and effort they have put into defining their ammenities. They will have the FIRST pier in Rocky Point. Being the first is always a good thing. They plan to have an on-site restaurants, cantinas, poolside waterpark with slides, a beach club, room service, and many other great features.
Everything comes with a risk. Ask the first people who invested on Sandy Beach. The unknowns were many. Several years later, we know one thing, everyone is falling in love with Rocky Point. The oceanfront prices are through the roof. The highway that is going to make San Diego 4 hours from Rocky Point is close to completion. Some day, we will have an international airport. Until then, you can wait and watch prices at Los Corales eventually meet up with Sandy Beach or you can be the smart investor and get in early. Visit their website for more information at www.loscorales.net.
