BajaNomad - Loreto Bay Sales Process

Loreto Bay Sales Process

PovertyBay - 1-3-2006 at 02:00 PM

In a weak moment, I engaged in a brief on-line chat with a representative of Loreto Bay, and inquired about their sales process. The representative was not forthcoming about what properties are (or will) be available, what they might cost, or other specifics of the sales process. Apparently, if I were to be interested in Loreto Bay, I must pony up several thousand dollars to demonstrate that I am a serious buyer, attend a sales meeting, probably attend a further sales meeting in Loreto (which sounds rather like a closing session), and compete with other buyers for the privilege of bidding on a selection of properties "released" periodically for sale. Properties are said to range in price from $200k to $2m, and I have not seen any more definitive pricing information, even in prior discussions on this forum. There seem to be several forum members who have participated in the process of purchasing Loreto Bay properties. Would any of you care to comment on how this worked for you, what your level of comfort was, and whether or not there were any surprises along the way?

Thanks,
Poverty Bay

Phil S - 1-3-2006 at 02:29 PM

Well, not being a buyer, but being very close to the "situation". I'd say that with over 500+ buyers in completed sales, equaling over $200M in sales, that there must be something "non intimidating" about the process for them to "sign up". I'd (uneducated guess)guess that they are closing maybe 20% of the buyers that are looking at the property. A rather unique way of selling I must say. It's not like if you don't like what you see, you can walk on down the street & buy from someone else, because there "isn't someone else". A person can think about it, and then suffer the financial damage of coming back and finding the prices have gone up, and the choice lots are gone!!!!
Cinco de mayo can jump in here I'm sure and tell us about his experience. I'm not aware of any other nomad that has claimed to be an owner.

Cincodemayo - 1-3-2006 at 03:55 PM

Obviously Poverty has no intention of buying just bashing. Loreto Bay does the process to weed out the non serious as every penny you put up is in trust and will be refunded wether you purchase or not. The buying process was very enjoyable and there were no "Bidding" wars as you are on a list when you sent your check in so any one after you is behind your lot preference. Any investors or buyers that I have talked with surely didn't make their money squandering it on stupid ventures so it seems that Poverty Bay has no clue what he or she is floundering about. I'm sure if Poverty was serious about buying property in Loreto Bay he'd be met with the professionalism I and everyone else has. But then again if it's not your cup of tea go down the road.... :biggrin:

vandenberg - 1-3-2006 at 03:55 PM

How about " Friend of Baja "???

PovertyBay - 1-3-2006 at 04:26 PM

Quote:

Originally posted by Cincodemayo
Obviously Poverty has no intention of buying just bashing. Loreto Bay does the process to weed out the non serious as every penny you put up is in trust and will be refunded wether you purchase or not. The buying process was very enjoyable and there were no "Bidding" wars as you are on a list when you sent your check in so any one after you is behind your lot preference. Any investors or buyers that I have talked with surely didn't make their money squandering it on stupid ventures so it seems that Poverty Bay has no clue what he or she is floundering about. I'm sure if Poverty was serious about buying property in Loreto Bay he'd be met with the professionalism I and everyone else has. But then again if it's not your cup of tea go down the road.... :biggrin:

Cincodemayo - 1-3-2006 at 04:30 PM

And your point is? Anyone can scroll and read but it takes a real brain surgeon to quote... :lol:

PovertyBay - 1-3-2006 at 04:41 PM

Certainly no intent to bash, with all due respect, but the process is very different from any other real estate dealings I have ever encountered. "Bidding" was perhaps an unfortunate choice of words on my part. However, I have read of potential buyers having decided on a particular property, only to discover that was no longer available when their number came up. I simply don't want to get that deep into the process only to be disappointed. My basic question is -- can a buyer not find out what properties are available, and make an offer (or be told the price if it is not negotiable) without all the fancy footwork?

Yours respectfully,
Poverty Bay

Cincodemayo - 1-3-2006 at 04:51 PM

It depends on the placement when the buyers sent in their trust money.
First come basis that makes sense as we were high on the placement list and got the lot we wanted. If we didn't get the specific lot we wanted we would have passed that time around. ALL buyers are aware of the specifics before they pick certain lots and is laid out in black and white.

PovertyBay - 1-3-2006 at 05:06 PM

Thanks for the clarification. At what point does one become aware of the price of his property of interest? And if you pass when your number comes up, do you retain your place in the selection queue, or go to the bottom of the list? Lastly, at what point is one entitled to review legal purchase/sale agreements?

Regards,
Poverty Bay

JZ - 1-3-2006 at 05:11 PM

Cinco: give me a wild a$$ guess what one would pay for a 3100 sq marina front house, on a 10,000 sq foot lot with a 2,000 sq terrance. Or something comparable.

vandenberg - 1-3-2006 at 05:24 PM

JZ,

You ARE kidding , right??? :?:

JZ - 1-3-2006 at 05:30 PM

No.

Cincodemayo - 1-3-2006 at 05:33 PM

When you send in your trust $$ you get all the lot sizes, architect drawings of homes and what homes fit in what lots as you can get a larger lot and put a smaller home....many choices and all the prices are quoted with the exception of custom homes on waterfront and golf frontage. As for the placement on not buying I'm sure the next property opening would give you a better advantage. All neighborhoods are opened by sales of former plots as Fonatur only releases so many lots at a time.

JZ...That would be on the Custom home Dept. and the buyers work with the LB Artitects for designs of customs as they are all dependant on the owners specs of #'s of baths and bedrooms. Waterfront and Golf frontage are the spendiest....Met a guy and his wife from Newport Beach that were ready to buy a million $ lot and build a custom home but the lot they wanted already sold....way out of my range

Nopolo Bay next to the hotel was selling smaller condos for $450,000 compared to Loreto Bay for $299,000....Loreto Bay's are homes with a common wall and great second story verandas with views of Mountains and Sea.

[Edited on 1-4-2006 by Cincodemayo]

PovertyBay - 1-3-2006 at 06:30 PM

Gracias. Much obliged.

Loreto

tehag - 1-3-2006 at 07:04 PM

What happened to JZ's post about Sonora Bay????

Cincodemayo - 1-3-2006 at 07:09 PM

Looks like edited it out of existance :lol:

Seemed like another nice development but on the mainland near Guaymas :biggrin:

vandenberg - 1-3-2006 at 08:45 PM

About editing,
You apparently don't like my comments much either
Can't wait to meet you.

Dave - 1-3-2006 at 08:52 PM

Quote:

Originally posted by Cincodemayo
All neighborhoods are opened by sales of former plots as Fonatur only releases so many lots at a time.

What does FONATUR have to do with this, and what do you mean by releasing?

Isn't this a private venture on privately owned land?

Hold on there Cinco

Sharksbaja - 1-4-2006 at 01:18 AM

A person with no prior Loreto Bay info could put forth those questions with legitimacy IMHO. It does seem that Poverty has followed the forums discussions to a degree. Although you and some others have been able to find comfort in the promises made it is also quite possible that very few outsiders can extract that kind of info from a PR prerson or real estate agent from afar.

It seems that with the collective mindset of the folks who have already paid for their (future) place comes the collective comfort of being amongst same. I am inclined to believe that all these folks have put tremendous trust in the developers and project. Inasmuch it seems a whole bunch of money is being spent to keep the comfort level high.

Considering the current low occupancy rate I can understand ones concern when direct questions are put to representatives. The scale of the project and questions raised in regards to future utilities are clearly legit. I am sure that many early buyers will be satisfied but I have serious concerns about (them) completing the development as planned.

I just wonder how real the "trust fund" is and like Dave mentioned, what role does Fonatur play in the availability of lots. It almost seems like they pay as they go(for new lots to sell) Just that mention is scary for many.
Cinco, did you get a completion date that is reasonable and one you are comfortable with.

Diver - 1-4-2006 at 02:18 AM

This sounds exactly like the type a scam that we are told to say away from in the States.

Sure no problem,

Give us your money BEFORE you even see the property..........
We'll hold it for you; SURE, we'll give it back some day............
Interest on your $$$$; yea right !
Sorry (bait and switch) that lot is sold but this one is available......
Trust our trust - this is Mexico, after all......stable as .... ?? Jello ??
Oh, and then deal with OUR architect and then we will tell you the $$.....
WHEN can we move into our new fancy expensive casita.......
And about those amenities; like water for example.....
This sounds like a scam for the rich...only the rich can afford to lose $$$$
Oh well, maybe, just maybe, we will get our money's worth someday..nah !

Didn't someone named Bill something, do this in Arkansas ??

I was in real estate development for over 20 years and this is the craziest thing I've heard of since before the S&L crisis !!
Good Luck to all you investor/gamblers with more money than ....... :lol:

Cincodemayo - 1-4-2006 at 11:41 AM

Do you people really think that ALL the $$ is forked over at once?
This is like beating a dead horse. I've certainly said enough as no one other than buyers will ever get it. Everyone's cup always HALF empty?
I'm done talking about LB. Try the stock market instead.

Where's the Baja love?

Hook - 1-4-2006 at 01:07 PM

I won't comment on the relative merits/pitfalls of investing in the Loreto Bay project. That's an individual's call.

But I really feel that Poverty Bay's initial requests were done in an open, unbiased, and self-effacing manner and the conclusions that some reached on his/her intentions were completely uncalled for. This type of reaction tends to limit exchanges of information on boards like this. What are we all here for, if not for information?

Yeah, a board name like "Poverty Bay" could be construed as having a bias. I simply found it humorous, as his questions were to-the-point.

But it sure seems like some of the early investors are a testly lot when it comes to questions about their investment.

I cant imagine, though, that some of the current L.B. investors didn't ask THEMSELVES the same questions that P.B. did.........

Either answer the questions or don't, whatever you choose. But don't disparage the questioner's motive's or character when there is no way of knowing about either. :no:

Worldtraveller - 1-4-2006 at 01:54 PM

Loreto Bay seems to be selling a lot of properties at ever increasing prices. Maybe this is related to a real estate bubble that seems to be taking place north of the border. Then again, it seems like some financially successful folks may be buying something that is great value compared to what can be bought on the California coast.

Cinco, did you buy for the potential investment return or for other reasons? What do you think is driving other buyers?

PovertyBay - 1-4-2006 at 01:57 PM

Hook.

Your comments regarding the tone of some of the communications on this site are right on the money. At times, there seems to be very little tolerance for the views of others, and the language is often derogatory. It gets tiresome, and certainly discourages newbies such as I from participating in the dialogue.

By the way, nothing was implied by my moniker, Poverty Bay. In fact, there is such a place on Puget Sound in the beautiful state of Washington. Now that I think about it, I believe I'll undertake to develop a resort property overlooking Poverty Bay, where Loretans can come to escape the summer heat. If anyone is interested, just send me a few thousand dollars, completely refundable of course, and I'll talk to you about my concept. Trust me -- I have, as yet, not a single dissatisfied buyer.

Regards,
Poverty Bay

Sharksbaja - 1-4-2006 at 01:59 PM

Quote:

Originally posted by Worldtraveller
Loreto Bay seems to be selling a lot of properties at ever increasing prices. What do you think is driving other buyers?

Money from the Gods and buttered up PR.

Cincodemayo - 1-4-2006 at 02:13 PM

The Poverty Bay quadrangle lies near the center of the Puget Sound region?s intensively developing urban core. Less than 20 km north lies the city of Seattle; downtown Tacoma lies just southwest of the quadrangle. The map area expresses much of the tremendous range of Quaternary environments and deposits found throughout the central Puget Lowland. Much of the ground surface is mantled by a rolling surface of glacial till deposited during the last occupation of the Puget Lowland by a great continental ice sheet about 14,000 years ago. A complex sequence of older unconsolidated sediments extends far below sea level across most of the quadrangle; there are no bedrock exposures at all.

It's just the internet, in general

Hook - 1-4-2006 at 02:26 PM

Quote:

Originally posted by PovertyBay
Hook.

Your comments regarding the tone of some of the communications on this site are right on the money. At times, there seems to be very little tolerance for the views of others, and the language is often derogatory. It gets tiresome, and certainly discourages newbies such as I from participating in the dialogue.

It's really not this board. It's a problem at most all discussion boards, especially when money is involved. To a certain degree, it's just human nature. But it CAN limit discussion, unintentionally. That's why I brought it up.

Really, I understand the tendency to get defensive about LB. As a development, it has been treated like a shuttlec-ck on these boards. But it's still no reason to personally disparage an individual (especially a newbie) who brings up questions about it.

I'm outta here, on this subject.

capt. mike - 1-4-2006 at 02:55 PM

YOU SHOULD SEE WHAT ROCKY POINT PROPERTIES are going for, selling like hotcakes at $300 to 500 K....no problemo. and condos....smallish.
loreto bay has a good chance, people want it and can afford it.

to each their own...

cracks me up... :lol:

give me the trailer life...

Hook - 1-4-2006 at 03:51 PM

Quote:

Originally posted by capt. mike
YOU SHOULD SEE WHAT ROCKY POINT PROPERTIES are going for, selling like hotcakes at $300 to 500 K....no problemo. and condos....smallish.
loreto bay has a good chance, people want it and can afford it.

to each their own...

cracks me up... :lol:

give me the trailer life...

Me, too. Sing with me, now, Captain Mike......

" Yo Ho, Yo Ho, a trailer's life for me......."

I used to look down on WTT......now, I aspire to it. :lol:

[Edited on 1-5-2006 by Hook]

Trailer life, hmmmmm......

Sharksbaja - 1-4-2006 at 06:13 PM

Quote:

Originally posted by Hook

Quote:

give me the trailer life...

Me, too. Sing with me, now, Captain Mike......

" Yo Ho, Yo Ho, a trailer's life for me......."

I used to look down on WTW......now, I aspire to it. :lol:

Our trailer at Two Harbors had a sea veiw of both sides of the island.....and buffalo! :lol:

Great till the kids started growin' :lol:

rogerj1 - 1-16-2006 at 11:21 PM

Poverty:

This is not a good place to come looking for investment advice. Many of the people on this board have been in and around Baja for many years and aren't that keen on newcomers flashing wallets. There's a few of us that are intent on learning more about buying property in Mexico. I've started up a blog to talk about it. It's pretty new, but I've posted some links to different investments available out there. Take a look.

http://laptoptraveler.blogspot.com/

Skeet/Loreto - 1-17-2006 at 08:28 AM

j1:
Have you Physicaly been to Loreto Bay Villages ?

If you have not you should go take a look, do some Hometown Investigation of the Area and its Water.

I think that Loreto Bay villages has a chance to really be a new and Beautifull Development. Reason: Because they have been able to take in so much Money in such a short time.

There really seems to be only two Negatives:
Water
Dust

I would not buy.
I would go North where the amount of Dust is less and you can make arrangements for good Water.

Skeet/Loreto

vandenberg - 1-17-2006 at 09:51 AM

Skeet,

Once the first phase of construction is finished, dust won't be an issue any longer, and as far as water is concerned, Loreto Bay and the north end of town will be drawing from the same trough. If you're talking further north, what water arrangments are you refering to ?

Skeet/Loreto - 1-17-2006 at 11:38 AM

Berg:
It is not the dust from the Development but the dust from the former Garabge Dumps all North of Salvuts and the Penthouse as well as the dust that comes from Loreto itself on all of the unpaved steets out North.

The Water thing, as I understand it has already be given to the Developments up North even through it is being Hauled in my Trucks.

And of course you must know of Salvuts Power over that Area.

Before I started to build Rancho Sonrisa, all of the area from the Prep. School North was the closest Dump. Ihave pictures of moving the 3 0r 4 cars from the Aea, and I did not count the numer that were moved the next few Years.
Also the Hill that lays between thew Beach and where Lucia and Garys House stand was a dump for old cars and such. Now to get another 100 yards or so to the North is where all the Dogs which were Poisined and Died {From Strychine} were dumped. I personally counted 254 dogs when they had the "Big Cleansing of Stray Dogs Program"".

Then if you go further out you have the Old Black Water Basin were the Black Water was Pumped for several Years.
Then a little further North you have the Arroyo that comes down from the Present Day Dump. You should have seen the Trash that came down in 1976 when Hurricane Lisa came by.

There are other things to look into for those who would like to live in one of the most Beautifull spots in the world.

Skeet/Loreto

The above does not included the years and years of The fishermans Leavings that were brought out from Town when there were no longer allowed to Filet Fish on the Beach in Loreto.

Sharksbaja - 1-17-2006 at 03:35 PM

I wonder if the all-inclusive self-sustainng developments will incorporate these (authentic)amentities in future projects. :lol:

IMHO I think the development will bring unforeseen collateral problems but not particularily by their hand. Pandoras Box is open so social problems will be guaranteed. Much like Cabo. I could be wrong, and it is early in the boom but the future growth factor will most likely be exponential.

Skeet, tell us more about the humane cleansing program for dogs. Have you ever witnessed a dog dying from strychnine poisoning? Not a pretty sight. It also kills companion animals, as well as strays that suffer and die from the cruel poison set out in baits, which remain potent for years. Improperly disposed of doses, and doses workers fail to pick up when they are left uneaten, cause slow, painful death to other animals. The clinical signs of strychnine poisoning relate to its effects on the central nervous system.

"The first clinical signs include uneasiness, restlessness, anxiety, muscle twitching and stiffness of the neck. The animal is in severe pain and the pupils are dilated. These signs can resemble tetanus, with an increase in spinal reflexes leading to tonic convulsions characterized by sudden contractions of all striated muscles followed by complete relaxation. The animal becomes hypersensitive to external stimuli and the slightest noise or touch can trigger convulsions"

Having experiencing the loss of my wonderful border collie as a child due to some sicko(doctor) baiting neighborhood dogs I possess a deep opposition to this inhumane method of animal conntrol.

Loreto

tehag - 1-17-2006 at 04:27 PM

They don't poison here in Loreto anymore. Sandy Harris' Lab Tar got nailed by a "leftover" dose, and she raised so much H they quit the program.

About 20 years ago I asked the cop who was driving a flatbed truck of dog carcasses to the dump how many they had killed, and he told me that in the week-long push they were at about 2,200. It is an ongoing problem of some magnitude.

There are some volunteers doing spaying and neutering now, and they plan to open a clinic. Sometimes kids from Loreto Bay employee's families spend a day trying to catch puppies there for sterilization. I saw a pack of a half dozen or so ferals today on the Loreto Bay property.

The goat herder at Nopol? shot a few dogs 3 days ago after one of his goats was offed by a local pack.

Strays are still a problem all over Mexico, but, poco a poco...

Samdy and Tar

Skeet/Loreto - 1-17-2006 at 04:53 PM

I was with Sandy when she first brought Tar home. Looked after him on Several occasions'

"Hueso"
As the Tears flow, my Heart Pumps. it is difficult to see the Keyboard as I think about "Hueso".
She was brought to me at the Hotel Presidente at Nopollo on one of the Friday Night Buffets and Music. I was listening to the Music when I was approached by 2 young women who Told me that they had found a Puppy on the Highway standing next to a Dead Momma dog. They reported that theyhad the Puppy in their room, they were leaving for LA the next day and did notknow what to do with this Puppy.

I went to take a look an"Wow" here comes a tall,scrawny,Yellow Hound with the beautifull eyes!!. I could not resist, so took the Puppy Home. I was then living on Jordon next to the Ice Plant and across from Jamie and Marie'

She was all Skin and bones, part Whippett and GreyHound and Mexican Yellow. I took her to the States, named her "Hueso" meaning to me "Bones". My wife fell in love with her very fast.

I was driving a Cessna 172 at the time/ Virginia and I would Depart Los Banos with Huesco in the back seat{NoSeat Belt} she would Set up and look out the Window onTake off and Landing, then lay down and sleep all the way to Loreto.

See Next Post__________________________

The Loss of Hueso

Skeet/Loreto - 1-17-2006 at 05:06 PM

Hueso became my friend, tall and Lanky, pleasing, kind and all those wonderfull things from "Mans Best Friend"

When in the states she would walk with me on the Canal Bank in Los Banos, taking time out to chase down and catch a good size Jack Rabbitt.-The only dog I ever had that could do the Rabbit Catch.

On a beautifull clear morning in Loreto I started for my Three mile walk from Rancho Sonrisa to the Cathouse and Return.
Hueso was happy go lucky,bouncing and showing me the way when all of a sudden she flipped to the Ground and started Shaking, I grabbed her Head and watched her eyes a she Died, those beautifull eyes looking into mine/
I went back Home got my truck and returned her to Rancho Sonrisa, buried her out on the Front of the Lot, marking the Grave with a large Whale bone I had found on one of the Islands. The large Whale bone I took with me when I left Loreto. Now it rests within my view so that I am reminded of Best dog I ever had the Privilege of Knowing.

God Bless her for bringing her heart to me. I will cherish her for ever.

The Reason for Hueso's Death. Next
Post

Skeet/Loreto - 1-17-2006 at 05:17 PM

For the past several years the Dog Population had increase and there were many "Street dogs" starting to roam and bother the People of Loreto. At one time a pack of Dogs attacked some Children on the Beach.
The Local doctors and Delagado decided to Hire a person who was a know Dog Hater to clear the Streets of Loreto.
the Radio warned all peop[le to keep their Dogs inside their property for one week as Poisin was going to be put in the Streets from Midnite til 4 in theMorning.
Smal bags of Hotdogs with Stictnine were thrown into the areas where Dogs were observed in the streets.

A Road runs from town to the Cathouse where they dropped th small sacks to get rid of the Cathouse dogs, that was where Hueso had tasted the Hot Dogs. Over 250 Dogs were later hauled from town to the dunp out North.
I shall never Forget, Niether did Sandy or her Friend from Idaho who lost to Bird dogs.

God Bless them All.

Adios Hueso

Dog heaven

Sharksbaja - 1-18-2006 at 12:37 AM

Oh Skeet I am so sorry, I had no idea you suffered with the loss of your beloved companion. I empathize with you. May their innocent souls live on through our memories. I will never forget my friend Binx either. It's hard to imagine that many dogs dead all at once.

[Edited on 1-18-2006 by Sharksbaja]