Those of us who live in San Carlos already understand the quality of life that she provides; we enjoy the benefits of small town living with big city amenities. Within minutes of our homes we can be on the beach, playing a round of golf, or hopping on a boat to go fishing or racing with the dolphins. Throughout the day we can be in any number of quality restaurants enjoying tacos from a street vendor or a Kobe steak at Five Palms. From A to Z, San Carlos has it covered and the real estate sales numbers for this quarter prove the continuing lifestyle appeal of this community. I can go on and on about the attributes of San Carlos, and I do so, on my website. However, this report is focused on the business environment.
The real estate sales information listed below is from the local San Carlos Multiple Listing Service (www.sancarloslistings.com), MLS. Please note that these sales figures do not include properties sold directly between a seller and a buyer and without the services of a realtor.
Real Estate Sales Double from 1st Quarter 2010
2010 2nd Quarter Sales USD: $5,201,000.00
2010 1st Quarter Sales USD: $2,678,900.00
2009 2nd Quarter Sales USD: $4,600,000.00
2009 1st Quarter Sales USD: $1,642,000.00
Current Active Listings Single Family Homes: 212
Current Active Listings Condominiums: 75
Current Active Listings Lots: 163
Current Active Listings Other: 4
~The average percent decrease between list price and actual sales price was 15% for the 2nd Quarter of 2010.
~The median sales price for a single family home was $280,000.00 USD and the median sales price for a condominium was $244,000 USD.
~Approximate total number of single family homes in San Carlos is 3,000 and approximate total number of condominiums in San Carlos is 690.
General Market News
1. Even if you are a retired person who no longer has concerns for business matters, a healthy economy is important to the well-being of our community. The amenities that residents and visitors enjoy can only be maintained with a stable economic base. And as odd as it might seem, little San Carlos is sitting in a pretty good position amidst the world wide economic instability. Mortgage financing (with the exception of owner financing) is almost non-existent in San Carlos, and for that we can be grateful because it has kept speculating to a minimum. There are no foreclosures here because homes are paid for in cash and this has also helped maintain the value of properties in San Carlos. With a few exceptions, homes last quarter were sold on average for 22% below list price and this quarter that number is reduced to 15% below list price. This is a far cry from the 45% to 55% decreases we have seen in many second home communities in the United States and areas of Europe.
2. Sam’s Club and Walmart are both now open and serving our community in Guaymas. Where locals once drove to Hermosillo or Obregon for warehouse type shopping we now have those services within a 15-minute drive. These stores have hired hundreds of local workers and are also a tax resource for the City of Guaymas.
3. On June 16, 2010 Governor Padres held a press conference which I attended at the Hotel Playa de Cortes in Guaymas. With the beautiful Bacochibampo Bay as a backdrop, the Governor announced the “Guaymas 21 Plan” which is in fact already underway. This initiative consists of several major projects in Guaymas that will be ongoing over the next several years and the first 31 million pesos are being allocated immediately. Many of the projects are related to urban renewal which was a big theme of the presentation. All of the projects from the desalination plant in Empalme, the sports complex, housing for the poor, and renewal of the historic district and Three President’s Plaza downtown are “all for the benefit of the people,” stated Padres.
4. Eight Senators have submitted a proposal in Mexico City with the request to pass legislation that would eliminate the restricted zone, thereby eliminating the need for a trust when foreigners purchase real estate within 50 kilometers of the oceans and within 100 kilometers of the borders. The Synopsis reads as follows: “Proposes to eliminate the restricted zone and to enable foreigners and foreign companies to acquire direct ownership of lands and waters without restrictions other than that prescribed in the applicable legislation and in accordance with the terms of the respective contracts. This, say the authors, to make better use of the tourism sector, considering the current situation is far from the context in which it was born the constitutional restriction in question, which today represents only an obstacle to foreign investment in generating jobs in the tourism sector.”
Although this type of legislation is presented on a regular basis the timing could not be better. Mexico is desirous of foreign investment and this would be a sure way to attract investors and contribute to a healthy economy.
5. On June 7, 2010 the owners of leading media enterprises in Mexico City announced the “Mexican Initiative” which is a challenge to all citizens to create solutions for problem areas within the country and submit these proposals to the Initiative Committee. Twenty projects will be selected and, based on the ranking, funding will be provided to develop the proposals. The San Carlos Scenic District Initiative has been submitted and it would be a tremendous benefit to our community if we are placed in the top twenty! This beautification project is an excellent way to inspire local businesses and residents, improve the curb appeal of our city, and affords us an opportunity to show case the natural beauty of San Carlos.
Until next time please remember that we are all either contributing to or contaminating our environment with our words and our attitudes. If you see something you don’t like take Ghandi’s advice and “be the change you want to see in the world.” Hasta pronto!