Cabo San Lucas continues to rule the roost when it comes to luxury second home developments. In our recent article on the top ten locations for destination club homes worldwide, Cabo easily topped the list with 66 homes, and the perennial tourist favorite on the Sea of Cortez isn’t hurting for fractional or whole ownership offerings either. Ritz-Carlton Club’s Quivira Los Cabos residences, set to open in 2009, will feature full ownership homes ranging from $4.8 million to over $11 million, and Capella’s Cabo resort, Capella Pedregal, is currently offering one-eighth shares of residences and casonas that run between $475,000 and $540,000. Doors are slated to open this summer.

For golf enthusiasts, Querencia, which dubs itself Cabo’s first private golf club, offers whole ownership homes, ranging from $550,000 to a eye-popping $14 million, bundled with a Tom Fazio-designed course, a full spa, tennis courts and a fitness center. And if 18 holes just isn’t enough, fear not; a Gil Hanse-designed course on the way as well. Misión la Serena in San José del Cabo offers its own draw for Jack Nicklaus and Greg Norman loyalists looking to go the fractional route.

Is your head spinning yet? In truth, that’s just the tip of the iceberg. With the abundance of options, from condo-hotels to destination clubs, and private residence clubs to resort real estate, wrapping your mind around the Cabo market can be a challenge. And then there are the ins and outs of buying in a foreign market to consider.

For an in-depth look at luxury real estate offerings in Cabo San Lucas, check out our second destination guide. Halogen Guides is putting together the web’s most complete guides to buying into the world’s most popular luxury real estate markets, with detailed listings of properties, and articles on how far your housing dollar will go. Our San Francisco and Wine Country guide is already live, with Aspen and Lake Tahoe versions coming soon.