My dad lives there, south of Rosarito as well. He bought/ leased a lot there and built a house in 02. There are potential benefits to it, but very real risks. Financing for mortgages is available, but its much more expensive. Title insurance is available as well. The problem is that the Mexican legal system is heavily stacked against you as a foreigner. You really need find a good lawyer down there to talk to before buying. There are land ownership issues, such as ejido’s that you need to be wary of.
As JES mentioned the boom down there is just an echo of what is happening here. I suspect the bust will as well. Things are very slow in my dad’s development. They have had their house on the market for some time. Lots of lookers, no offers.
The main problem as I see it is that getting across the border is a pain in the ass. I have a sentri pass and its still painful. You need to be prepared to put up with alot of inconveniences to live there, but it is much more affordable if you want to live on the ocean.
