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Tuesday
Jun152010

June 2010 Newsletter

 

Hello from beautiful Acapulco!

Rather than talk about how beautiful and amazing life is down here in Acapulco this month I want to talk about the investment opportunities of purchasing real estate in Acapulco at this time.

But before I do, I just wanted to let you know that Details magazine did a write-up on Acapulco this month.  You can see it here: http://www.details.com/style-advice/tech-and-design/201005/where-to-eat-play-stay-acapulco

As many as you may know Acapulco was literally the top vacation destination in the world during the 1950s and 1960s.  The whose who of celebrities of the time were here and while many celebrities still keep a house/villa here in Acapulco, from the 1980s on until the early 2000s Acapulco was forgotten by much of the world.

The Mexican government focused its efforts on creating man-made vacation destinations, literally from scratch, in places such as Cabo San Lucas and Cancun and funneled all their marketing dollars into turning these areas into top tourist destinations.

However, in the last few years Acapulco has received a complete rebirth.  This New York Times article does a good job of describing the transformation: http://travel.nytimes.com/2008/03/02/travel/02acapulco.html .

World class hotels, restaurants, bars and discos have all been built in recent years making Acapulco the new hot, cool place to go.  Yet many still haven’t awakened to this reality.

You can still buy a condo in Acapulco for under $60,000 (as you can see on our Suites for Sale) page of our website.  Try finding anything cheaper than that in Cabo, Cancun, Puerto Vallarta or other overbought Mexican destinations.  They usually start at $200,000 and go higher from there.  Even here in Acapulco the great majority of new condo projects start at $300,000 and million dollar condos are becoming commonplace as Mexico’s rich have returned in droves to beautiful Acapulco.

As well there are two new recent events that I feel are almost certain to increase the value of Acapulco real estate nearly overnight.

First, there have been distinct weather pattern changes that have made themselves known in recent years.  Miami had snowfall this last winter and people who were in Cancun in the winter had better have brought sweaters, jackets and warm clothing because daytime highs often never got higher than 70F (21c) and overnight few even ventured outside as the thermometer dipped to 53F (11c) or lower.  Obviously, when people think of a Mexican winter vacation they don’t have thoughts of sweaters and hot chocolate in mind.

Even in Acapulco this winter was unusually cool.  But unusually cool here means highs of 87F (31c) and lows of 73F (23c).  Still very comfortable beach weather and perfect for sitting at a beach bar with a cold corona in the evenings.

As well, and we hate to dwell on something so horrific as this current Gulf of Mexico oil spill, but they do not even think they have a chance of trying to stop this spill until mid-August.  And even that attempt has been said by many experts to be futile.  British Petroleum drilled to unheard of underwater depths and encountered pressures 50 times higher than most normal wells (estimates are the pressure is somewhere between 20,000 to 100,000 pounds psi).  Even at 20,000 pounds that is more than any known technology can stop.  The nightmare scenario is that this spill may never be stopped until billions upon billions of gallons of oil and other toxic gases are dispersed into the gulf.

We want nothing more than for this nightmare to end with some sort of miraculous cure but the cold-logical fact of the matter is that if this well cannot be stopped it will destroy the entire tourism in the entire Gulf of Mexico including Florida and Cancun.  That would mean that the demand for vacation properties on the Pacific side of North America would receive a huge amount of demand almost overnight.

Again, we want nothing more than to hear that this disastrous spill has been mitigated.  But if it is not, we will almost certainly expect interest and prices for Acapulco real estate to skyrocket.  Especially when you combine this oil disaster with the weather pattern changes that look to be recurring for the foreseeable future.

And so, if you are looking to buy some of the nicest properties in Acapulco that we offer at these amazing prices, as low as $57,000 USD for a beachfront condo which is also rentable in our hotel as an income property, the time to do so may be now before the rest of the world catches on to the coming changes.

And, as always, we offer discounts for rentals of our suites for interested buyers.  So if you’d like to come down and check out the city and our units, email us directly and we will try to get you into one of our suites at the hotel, Las Torres Gemelas Private Suites (http://LTGPS.com), so you can try living in one of our remodeled suites and living in the resort to see how you like it before you buy. 

Until then, see you at the beach!

Jeff Berwick

Manager

AcaCondos & Las Torres Gemelas Private Suites hotel