A luxury real estate in Los Cabos, Mexico is coming back to life after being bought by Mr. and Mrs. Jonathon Fischer.
Sitting on the edge of a cliff 250 feet above sea level, a four- bedroom, almost 4,000- square- foot house in the Villas del Mar resort was bought by the couple for $1.85 million.
Mr. and Mrs. Fischer are now spending almost $2 million to add 1,000 square feet to "renovate every square inch to make it modern." He also added that "What intrigued us about the peninsula was that they had this concentration of really nice resorts and hotels and a surprising amount of activities in a small area."
According to wsj.com (Wall Street Journal), Los Cabos was established 20 years ago with a golf course, 16 miles of walking paths and the place have property managers who pay for owners' bills and grocery items for them. However, Los Cabos experienced transaction fees, construction stall, price drop, real- estate brokerages fleeing the scene, and lastly, Hurricane Odile ravaged the locale forcing luxury hotels to close and stop their operations.
The house boasts electronic entry gate, an outdoor kitchen, a pool, poolside fire pit, built- in bar, pool terrace, dining are with fireplace, exterior elevator and wraparound terraces. Also, the house has a master bedroom suite with king- size bed, vaulted ceiling, marble countertops, and a whirlpool tub. The guest suite that has an office niche and is off the great room at the other end.
The recovery in the U.S. home market paved way for Los Cabos to get up and be revived. Change in government and continuous decrease in crime rate helped in turning the place's image as safe and perfect getaway location. Los Cabos' crime rate has remained a relatively low throughout the ages. The couple expects return of investments after the renovation are done.
