When Opportunity Knocks – Buying Homes via Auction Without Reserve in Los Cabos
Time Sensitive material:
Month of May 2019
There are two big reasons the Los Cabos real estate market is booming right now. One reason is lifestyle related. Los Cabos is a tropical paradise, where the sun shines year-round, and a unique coastal geography–with beach, desert and mountain terrains, and the confluence of the Pacific Ocean and Sea of Cortés all in close proximity–promises limitless outdoor activities options. The other reason is basic economics. Not only are list prices lower for spectacular ocean view residences in Los Cabos than similarly situated properties in the U.S. and Canada, but so too are property taxes, and so too is the cost of living.
Fact is, Los Cabos offers a dream lifestyle at a financial level accessible to more than just movie stars and captains of industry.
But there is affordable luxury, and then there are just flat-out bargains, breathtakingly situated properties that are somehow available well below market value…even by Los Cabos’ already modest (compared to the U.S. and Canada) standards.
Both Homes selling separately Without Reserve in Los Cabos:
(Photo Credit Concierge Auctions)
Previously $2.45M home & $450K lot.
- Mediterranean-style split-level villa
- Stunning ocean and fairway views
- Private oasis in exclusive Palmilla
- Oceanside setting offering the best of Los Cabos
Former New York Yankees Star Jason Giambi Puts Cabo San Lucas Estate Up for Auction
The house, which is going to auction without reserve, is currently on the market for $10.7 million.
The nine-bedroom Hacienda-style residence, which opens into a bubbling Zen fountain, has exposed stone accents and a two-level freeform pool, hits the auction block from May 21 to May 24 without reserve, meaning it will sell to the highest bidder regardless of the price… Click here for More Details of this offer
How is this possible?
How is it possible to find an absolute jewel of a property, a beachfront home or luxury villa with stunning ocean views, at a price that puts it well within reach of many of the people who vacation or live seasonally in Los Cabos? Simply put, the biggest “steals” are to be found at auction, and a very particular kind of auction at that.
An auction without reserve–also called a no-reserve or “absolute” auction–is one in which the property is sold regardless of the bidding price. There is, unless previously stipulated, no starting price or minimum bid.
A great example of what’s available in terms of auction without reserve properties in Los Cabos is the hilltop luxury villa of former New York Yankees slugger Jason Giambi, which hits the auction block from May 21st to 24th. The 9-bedroom hacienda style residence sits atop Pedregal in Cabo San Lucas, an exclusive gate community that towers high above the Land’s End city, and features commanding views of both the Pacific Ocean and Sea of Cortés. The Giambi residence, dubbed Casa Cielo (In English, Heaven House), currently rents out for upwards of $5,000 a night, and features amenities like multiple swimming pools, a state-of-the-art gym, and over 11,000 square feet of patio space. The estimated value of Casa Cielo is $10.7 million dollars, but again that valuation means little at a no-reserve auction, where there is no minimum bid.
This lavishly appointed villa will no doubt draw interest from a number of interested parties, but no one knows just exactly what that number might be, or how high the bids will climb. It could be that this luxurious residence is available for far, far less than its market value. It could just be the bargain of all bargains, the opportunity of a lifetime.
But there’s only one way to find out…
Call us from the U.S. or Canada at 011 52 (624) 228-3509 for more details. We’ll help you find and buy your dream home in Los Cabos. Contact Us today