Received another mailer at my home in San Diego. In 7 pt. print, it states:
"Presently, there is a resort hotel, a golf course and a tennis center located in Loreto Bay. Future development projects, including a desalination
plant, wind farm energy facility, fishing pier, new marina, spa, beach club and the Village Center, including related amenities, are proposed only.
Because there is currently no estimated date of completion for these improvements, no warranty may be given or implied that such improvements will
actually be completed."
So all those people who paid a membership fee for the Beach Club? All those hollow promises which certainly influenced the past buyers' decision to
purchase? Isn't that fraud?
And still calling it "authentic Mexican seaside village"
"from the $400,000's"vandenberg - 11-20-2007 at 12:41 PM
And for all you Loreto Bay buyers and investors, I have something for you to picture in your mind.
Butterfly and his cohortes sitting on a beautiful villa terrace on the Riviera, overlooking a mediterranean beach, with his multimillion yacht at
anchor, sipping an Armagnac, and wondering how they got away with it again.
But, then they tell each other that the old Barnum adage still holds true " lots of them still born every minute "
And the fun is not over yet. Seen the latest financial reports on your financier, Citigroup ? Hold on to your hat.Leo - 11-20-2007 at 04:44 PM
in the 400,000. Yes that might have been true if it were in pesos.
Don't worry, be happy!
BTW Ed, we are on line, got some water and electricity today. Not that we needed the last thing. The solar is working like a sharm.
L.cbuzzetti - 11-20-2007 at 07:29 PM
This sounds like good news to me!!!!
Time to celebrate. I think I will have turkey on Thursday.
Sorry to those who made the investment.cajhawk - 11-25-2007 at 12:27 AM
This is a fairly standard disclaimer. I think the new group felt uncomfortable that only the amenities of the property were mentioned before (Beach
Club, Marina, 2nd golf course) and not other proposed items such as Wind Farm on Pacific Side and Desal plant. I have worked in Real Estate for years
(including Loreto Bay as some you know). I see this as a better disclaimer and one that would past muster even in the most difficult states'
departments of real estate.
Time will tell how good or bad the investment is. The new group bring more capital which is sorely needed on a project that size.805gregg - 11-25-2007 at 08:40 PM
A disclamer in Baja mean's it ain't gona happen. Unless of course you want to invest some more money, then of course it will be built.JZ - 11-25-2007 at 10:26 PM
Here is some food for thought on these big developments.
JZ
I liked this old Mexican proverb quoted by a lawyer about investing in bad developments
"A tree that starts to grow bent will never straighten out."capt. mike - 11-26-2007 at 07:42 AM
like i said before..........only invest in what you can afford to walk away from.
its another country, you have really no control ultimately.
San Carlos is looking better all the time tho. ditto Kino Bay.
RP is a shambles.JZ - 11-26-2007 at 08:58 AM
Quote:
Originally posted by bajajudy
JZ
I liked this old Mexican proverb quoted by a lawyer about investing in bad developments
"A tree that starts to grow bent will never straighten out."
Yeah, it is clever. It sounds more like a Chinese or Japanese proverb to me though. I think I heard it once before in the Karake Kid tigerdog - 12-1-2007 at 02:10 AM
Quote:
Originally posted by capt. mike
San Carlos is looking better all the time tho. ditto Kino Bay.
RP is a shambles.
San Carlos is slowing down in terms of real estate (looks like a few projects there are in trouble?), but I agree it still looks pretty good. A lovely
place, really. ditto Kino Bay.
You're dead on about RP. It's a real mess there, and it'll be a while before it straightens out. Barring a large influx of tourists from Canada and
Europe, I don't see the new airport being that much of a help in the short term. On the other hand, give it a couple of years and there
should be some good properties for sale at bargain basement prices.
It won't be long
Sharksbaja - 12-1-2007 at 02:48 AM
Before there are "deals" to be found. It won't take long before the new owners realize they can't get that room service and boutique shopping they
counted on.
Good lord, what are/were people thinking. Anyone who really thought these plans and promises were gonna happen are either the most naive people on
the planet or just plain idiots.
[Edited on 12-1-2007 by Sharksbaja]vandenberg - 12-1-2007 at 08:35 AM
Quote:
Anyone who really thought these plans and promises were gonna happen are either the most naive people on the planet or just plain idiots.
Sharks,
Will forward this to my neighbor/friend accross the boulevard
He may not take it litely being called an idiot backninedan - 12-2-2007 at 09:02 AM
In the famous words of Forest Gump "Stupid is as stupid does."
