U.S. and Canadian citizens can easily own residential property in Rocky Point- Puerto Peñasco, Mexico

Located at the edge of the Sea of Cortez, the balmy weather year round, close proximity to the U.S. and rapid growth of hotels, condos, home rentals and housing developments make Puerto Peñasco an ideal place to invest in Mexican real estate property.

There are a growing number of Rocky Point homes for sale. Looming foreclosures of properties are a homebuyer's opportunity to find an affordable second home near the Sandy Beach hotels and resorts.

The new highway planned to connect Southern California with Rocky Point will bring a new flood of tourists eager to spend their money away from home.

This will also bring tourists who want to make the move more permanent, increase their stay, or grab some investment property. Even with the slowdown of the U.S. economy, plenty of property around Rocky Point is still available.

This may eventually increase the value of land and other property in the Sandy Beach and Puerto Peñasco area once the economy recovers and prime Mexican real estate is already bought. While the Rocky Point timeshare market may have slowed down, the rental market is still strong during the few tourist events that draw tens of thousands of U.S. partygoers at least twice a year.

Sandy Beach Real Estate, Timeshares and ownerships

There are hundreds of Americans and Canadians who own property like condos, time shares and custom built homes at Sandy Beach and around Rocky Point.

With the slowdown in the U.S. economy - which also ripples through the Mexican economy - many more homes, fractional ownerships and timeshares may see a significant drop in values in 2008 and 2009.

This period though, is ideal for the savvy investor looking for someone who needs to unload Rocky Point real estate property at a discount.

Renting luxury homes around Sandy Beach

Besides fractional ownerships and timeshares, many homes on Sandy Beach are rented by the day or week. There are management companies that rent out these luxurious homes on and near the beach.

Sandy Beach Property owners rarely live in Rocky Point full time. They often stay for short periods of time, like weeks or months throughout the year. While gone, they rent our their large homes for the week, weekend or month.

Rocky Point Bike Rally and Spring Break visitors sell out all rentals well in advance of the events. The beach homes provide an inexpensive stay when shared among friends.

See photos of Sandy Beach, where most of the hotels, condominiums and rental and ownership homes are built. Hotels in Rocky Point are also a good alternative.

Construction in Puerto Peñasco has slowed, but annual tourist events like the Bike Rally and Spring Break help the town residents weather the economic storm in Mexico and keep some real estate in development. This opens more opportunities for investors and potential property owners.