BajaNomad - Houses that have sold & CLOSED

Houses that have sold & CLOSED

Woooosh - 3-17-2011 at 09:02 AM

Rosarito Beach said they had only 100 closed sales for all of 2010. Don't now how they got that number, tax records maybe? It doesn't do much good to lower the price because price isn't the only factor that stopped the sales here. This is not a normal supply/demand scenario as in the states- other contributing factors are in play here. The only people who respond to a price drop likely would have bought anyway- and those people are far and few between right now. Many people bought two or more condos in Rosarito hoping to flip one for a profit and they all want to get rid of at least one.

My two cents worth

mcfez - 3-17-2011 at 09:23 AM

I dont think you are going to see a market come back for years in San Felipe.

The house "Flippers" are gone.
Cartel actions has done it's scare.
Cash is a rarity in the Stateside

3 strikes :-(

I cant say there been no sales...there has been. I can say this...many of the Real Estate Offices are closed. The pumped up large projects are dead in the water (so what's new with that!). That project at south of town is getting more and more vacant. I think the name was South----something? The Harbor High rise....ha! Many same ol for sale signs are still collecting not phone calls but dust.

For San Felipe.....life will come back in full force once the highway is finished (connected to M1) and monies are back into action in the States.

[Edited on 3-17-2011 by mcfez]

Woooosh - 3-17-2011 at 09:30 AM

The cartels must still have plenty of cash to build with and a way to launder the money to do it. That's the only explanation I can come up with for continuing construction on huge projects like NAOS in north Rosarito Beach when everything else is either stopped or empty awaiting buyers.

Yup Fez, three strikes for sure. A fourth strike (maybe they get four in Mexico) would be over-aggressive pricing to begin with. A fifth would be the land title issues which got a lot of NOB press when people lost their retirement homes.

mcfez - 3-17-2011 at 09:53 AM

Quote:

Originally posted by Woooosh
The cartels must still have plenty of cash to build with and a way to launder the money to do it. That's the only explanation I can come up with for continuing construction on huge projects like NAOS in north Rosarito Beach when everything else is either stopped or empty awaiting buyers.

Yup Fez, three strikes for sure. A fourth strike (maybe they get four in Mexico) would be over-aggressive pricing to begin with. A fifth would be the land title issues which got a lot of NOB press when people lost their retirement homes.

5 strikes.....yes.....I agree. Gods....what else can hit the market down there, radiation fallout

gnukid - 3-17-2011 at 10:05 AM

Where I am at things are going nuts, many many high end sales in La Paz. California has turned, Silicon valley has tons of new investment/companies, new hires all all over and people are buying condos and homes in BCS.

BCS makes a great vacation spot for quick vacations from California. The flights are low cost to Cabo, Volaris is opening more flights, Alaska too. There are one way flights for 100-140 available many days of the week.

You can do an interview with Notarios, Title insurance companies and RE and just do a tour and you will see there is lots of activity at the moment.

As far as moving random lots and run down homes, those are bargain sales usually in the below $20-50,000 range. Basically many homes/lots that aren't moving are incorrectly priced or purposely priced more than double the market as is tradition in Baja.

bajamigo - 3-17-2011 at 10:08 AM

Is this a press release from the La Pa' Chamber of Commerce?

DENNIS - 3-17-2011 at 10:16 AM

gnu.....how's tourism down that way? It must be booming. Timeshare sales? Booming too, I'll bet.
All we get up here is ignored and laughed at. Where are all those heavy spending customers coming from? Are they driving big, black Escalades with pitch black tinted windows?
I don't get it.

Bajatripper - 3-17-2011 at 10:19 AM

Quote:

Originally posted by Woooosh
The cartels must still have plenty of cash to build with and a way to launder the money to do it.

Totally agree wih this statement. While lower-end housing is slow in La Paz, there is no end to the construction of new shopping centers and upper-end housing around town. While I understand the attraction of grocery stores (everyone, regardless of economic status, must eat), nothing else but the above statement seems to explain some of the other high-end shopping centers that have been built in the last two-three years.
On the bright side, they do provide a lot of jobs in construction, a pity that the jobs aren't going to locals. Without exception, all of the big construction projects where I have made informal interviews of workers, they have been brought over from the mainland under contract.

[Edited on 3-17-2011 by Bajatripper]

gnukid - 3-17-2011 at 10:19 AM

I am skeptical by nature:

I do get out though, unlike apparently many.

On my street, there were multiple recent sales followed by remodels, it's irritating to have construction and remodels on all sides, stressful really, cement flying everywhere, if you are at Posada the lots are moving and under construction.

Across the horizon, from the tip of the peninsula to Fidepaz there are many units underway, I would estimate 5-10,000 and I personally spoke to friends who had purchased nice units and where quite happy with the purchase.

You can meet up with notarios and ask them, simply by visiting the office you can gauge traffic, they are generally quite honest about sales, there is an uptick. I also met with a title insurance office, not that I believe in Mexican Title Insurance but they reported ten sales closed in the last 30 day period.

Personally I think its a great time for bargain hunting in el centro La Paz, beautiful old homes and lots could be scooped up by a smart buyer for under $50,000.

In general, you will note I have an accurate assessment of RE and am skeptical of agency, however, somehow there are people very interested in the new developments in La Paz.

Cabo is down and I don't see action there, but I hear there is action in Todos Santos, Centanario, and all over. La Paz in particular has been setting up with organized developments for some time, I don't get it, 1 million for a condo, but if you have a yacht and you have an extra million apparently its a nice place.

On the other hand, I would think its a great time to buy a nice lot with an broken colonial home for under $50,000 and take your time to make a nice simple place that you can walk to the malecon, walk to restaurants and enjoy the simple life.

Still for La Paz, traffic will be an issue as there must be some improvement in roads.

[Edited on 3-17-2011 by gnukid]

DENNIS - 3-17-2011 at 11:04 AM

I have a feeling it's going to get real quiet here.

Bajatripper - 3-17-2011 at 11:25 AM

Quote:

Originally posted by gnukid

On the other hand there are tons of the camper surfer-type smelly slobs, girls and guys looking for a free ride, that got really really old this year, worse than ever, they have no money, they are a real nightmare, even though we all pulled together to feed them and help them, showed them how to garden and fish, these surfer hippies don't contribute much if at all. Nothing. There were droves of hippy types camping in the arroyos with no money and they were begging for food, clothes, beer and a free ride but of course were unwilling to help with any projects. I would say more than half were canadians and I was struck that they had a strong negative attitude -probably because they are hungry, it basically sucked to be around them.

Anyone else in BCS witnessed this? Although I can't claim to get down to Los Cabos more than on a casual basis (runs to the airport and such), I haven't seen this. Anyone else?

tripledigitken - 3-17-2011 at 11:38 AM

Canadian surfers are a growing problem..................

:lol:

jenny.navarrette - 3-17-2011 at 11:39 AM

Quote:

Originally posted by gnukid
We have excellent service for water, gas and electricity, garbage and street cleaning, infrastructure is functioning well ...

Do you live in some kind of alternative universe?

capt. mike - 3-17-2011 at 12:14 PM

same old same old from guhnewkid...
hahaha. lots of diatribe never supported by stats or facts - it's all pure caca de vaca...

vaccuous halucinating at best.
starving hippies that he is feeding?

panhandlers on the beach?

get real - you never had credibility here.
Phil wanted data, info from real sources...
sadly since mexico does not use county recorders there is NO source for any comps - it is all so much BS.

haha.

DENNIS - 3-17-2011 at 12:21 PM

Quote:

Originally posted by Phil S
I tried to keep the question, 'simple' Where did I go wrongc??????

I don't think houses are selling robustly anywhere down here, Phil.
Some folks on this board, including myself, just can't stand to see a thread sit there unattended, so the thread morphs, first to a variation of it's original intent, then to something completely disassociated to the original query.
It's not completely rude...just a little bit. To ignore you would be rude and you don't deserve that.

Anyway...better people than you and I have tried to silence gnu, to no avail. He comes with the territory. :biggrin:

.

[Edited on 3-17-2011 by DENNIS]

bajajazz - 3-17-2011 at 12:40 PM

I would like to echo the request from Phil S for some hard data regarding closed sales in the Baja real estate market.

This is a subject on which I keep an interested eye, and with one single exception I have no personal knowledge of the kind of activity of which Gnukid speaks.

Drug money looking for a place to go? Yes, I'll buy that. Daily, we see around us acres of shopping malls and hundreds if not thousands of dinky houses and tacky condos under construction whose numbers far exceed the pool of ready, willing and qualified buyers, construction that is obviously not market driven. What other explanation is there?

If there is some hard data to refute this theory I'd like to see it. Experience tells me that requests for provable sales statistics in BCS are usually answered with fallacious BS designed to paint the rosiest of pictures.

longlegsinlapaz - 3-17-2011 at 12:42 PM

On a totally Condo-free, Chamber of Commerce-free, I have never seen a time-share sales pusher in La Paz note....

I personally know one person from the UK who will be arriving in La Paz in the near future & who is seriously looking for an older in-town casa to restore. I know another person who is flying into La Paz to sign closing on his fideicomiso at the Notario manana. Yet another couple is here seriously looking right now.

Property & spec homes built over the past 6 months in the Hacienda Palo Verdes development in Lomas Centenario have sold & closed; occupancy is completed in most cases. That said, there are still a LOT of formerly or never-occupied places which remain on the market here 3-4 years after completion. Actually, there are places still in the R/E listings which were on the market prior to my moving here in 1999!! :rolleyes:

There are a lot of "Oh hell, why did I believe the developer's pitch about how high-end a place he was going to build for me?" regret tales/places which remain on the market after 5+ years. There are two never-occupied spec casas within a couple blocks of me....both 2 bdrm/2 ba....no perimeter walls, no garage, no carport, no pool....one listed at $299K USD & the other smaller same amenities $297,500 USD. I personally think the builders were smoking something funny when they came up with their asking prices 3-4 year ago, yet both have increased their asking prices over that time! I believe many people have invested too much $$ & simply can't afford to take a loss of what it'd take to find a buyer.

Sales in this area have slowed, but definitely not come to a screeching halt. As proven out by Soulpatch in his search for vacation rental property for June....he had people falling all over themselves to voluntarily cut their publicized "vacation rental rates"....in some instances, he was offered rates of 25-50% of their originally posted rates. Many vacation rental properties are actually for sale & owners finally decided to try for rental income until & unless that one interested buyer comes along.

IMO, it truly is a buyers market & there's a lot of places in the La Paz area to haggle over!

tripledigitken - 3-17-2011 at 12:46 PM

When was the last time a Nomad sold their house in baja?

longlegsinlapaz - 3-17-2011 at 12:48 PM

Quote:

Originally posted by Bajatripper
Anyone else in BCS witnessed this? Although I can't claim to get down to Los Cabos more than on a casual basis (runs to the airport and such), I haven't seen this. Anyone else?

Nope, but you know I don't hang with that kinda crowd anyway!

Hell, your Mom embarrassed me with her table dancing! :biggrin:

Lera, xoxox! :bounce:

longlegsinlapaz - 3-17-2011 at 12:53 PM

Quote:

Originally posted by tripledigitken
When was the last time a Nomad sold their house in baja?

Ken, I sold Casa #1 in 2005 & sold Casa #2 in 2007....you in the market for casa #3?

tripledigitken - 3-17-2011 at 12:58 PM

Quote:

Originally posted by longlegsinlapaz

Quote:

Originally posted by tripledigitken
When was the last time a Nomad sold their house in baja?

Ken, I sold Casa #1 in 2005 & sold Casa #2 in 2007....you in the market for casa #3?

I remember you telling that story. Now, about #3, you're not going to build another house are you?

:wow:

Ken

mcfez - 3-17-2011 at 01:15 PM

Quote:

Originally posted by Phil S
Amazing how different peple respond to an inquiry. I asked for "responses" of people who either have sold their home, or know someone who has 'first hand'. I'm getting gnukid with a chamber of commerce commercial. mcfez talking condo's????
Fellow Nomads. Let's keep this inquiry 'simple' huh???????

'............mcfez talking condo's????
Who? Got your facts wrong.

"............What's your experience been? Like your own. Your relative. Your neighbor
"...What's your experience been?
'............But are there any houses selling in Baja?
Answered from seeing a hand full of sales in our campos and SF...with some side line information.

Oh....I got your question right.
I think you went off the road with your remark about me.

Here's what you post should had read like...

Seems prices are dropping in the past three or four years. But are there any houses selling in Baja? It's one thing to sell a house. But something else when the seller gets the cash in his bank!!!

What's has your experience been from selling your own house or from having one of your relatives sell their house ?

Please include what area/town this sale derived from
Let's find the "hot spot"
Please ...no other information needed nor wanted.

[Edited on 3-17-2011 by mcfez]

mcfez - 3-17-2011 at 02:28 PM

Quote:

Originally posted by Phil S
mcfez. Full house apology here. Sorry about that. Woosh was talking about Rosarito Beach & I equate R.B. with condo's & timeshares. Re read your first post, and what happen I think my 'elderly' mind switched & combined and edited & threw out something (I forget now what that was) and then gnukid jumped in with all that crap, and next thing I know, I got confused & everything else went south. Again. Mcfez. Full house apology here. I was going to edit out the thread due to the nature of the responses of the majority, but I'll wait a few more days & see what turns up. Like for an example. four years ago I sold my home in Nopolo (not Loreto Bay) Long before they ever heard of Nopolo when I bought my home/house/casa/abode??????My inquiry was only curiosity as to wanting to know where there might be some actrivity other than the "big cities". Guess now I should have said that in the beginning.

Full house apology ...I was doing that yesterday to someone here myself

Apology is accepted ...takes a real man to say that. You are big.

I know....sometimes there's a gush of information comes in from A to Z when you only wanted A

Hey....who knows...there might be something that be helpful regardless.

[Edited on 3-17-2011 by mcfez]

mulegemichael - 3-17-2011 at 03:25 PM

seems to be quite a few houses selling here in mulege at this time...i guess that happens when a town gets a "stormless" year...we have lots of new neighbors right now.

Bajatripper - 3-17-2011 at 04:38 PM

Quote:

Originally posted by bajajazz
Drug money looking for a place to go? Yes, I'll buy that. Daily, we see around us acres of shopping malls and hundreds if not thousands of dinky houses and tacky condos under construction whose numbers far exceed the pool of ready, willing and qualified buyers, construction that is obviously not market driven. What other explanation is there?

If there is some hard data to refute this theory I'd like to see it. Experience tells me that requests for provable sales statistics in BCS are usually answered with fallacious BS designed to paint the rosiest of pictures.

With apologies to Phil S, but perhaps now there is enough info here to give you an idea of what the real estate situation is down here--hard to pin down. I'm with those who think that the hard facts you've requested are difficult to come by. But what IS obvious is that there is growth down here that can't be explained by conventional market theory. And it probably wouldn't be too good of an idea to question with too much vigor those seemingly rosy pictures in official releases.

Bajatripper - 3-17-2011 at 04:42 PM

Quote:

Originally posted by longlegsinlapaz
On a totally Condo-free, Chamber of Commerce-free, I have never seen a time-share sales pusher in La Paz note

Although I haven't heard it officially, a few years ago, someone in the industry told me that time shares are prohibited in La Paz. He said they have them, but they can't market them as such, so they are forced to keep a lower profile. If that is the case, it's kind of nice, if you ask me.

Bajatripper - 3-17-2011 at 04:47 PM

Quote:

Ken, I sold Casa #1 in 2005 & sold Casa #2 in 2007....you in the market for casa #3?

Sounds to me like someone's been doing a little laundry. Shhhh, I'll never tell :lol:

Bajatripper - 3-17-2011 at 04:52 PM

On a more to-the-point note, the wife and I went over to Todo Santos the day after the big earthquake to wave-watch. What I remember the most were all of those fine new homes for sale over on the beach front. As someone else said above, it would seem to be a buyer's market. Since you expressed an interest in being away from the big cities, you might try looking there.

DENNIS - 3-17-2011 at 04:58 PM

New house prices may have been dropping recently, but probably won't for long. Building supplies are going to be in increased demand soon as efforts proceed to rebuild Japan. Plywood will be like gold.

SteveD - 3-17-2011 at 05:08 PM

Last time I talked with a realitor in the Rosarito area, about 4 months ago, she said nothing was moving and it had been that way for a long time. A few years ago lots of people were pulling equity out of their U.S. houses to buy condos in the area. Then the s**t hit the fan: their mortages went upsided down and construstion stopped on all of the condos. How many "ghost" condos are there along the coast from south of TJ to Ensenada?

I've seen houses on the market for over a year and plenty of open houses on the weekends. However I don't have the numbers of how many are selling.

A new factor in this is us Baby Boomers. I've met two couples in the past few months that have now retired and are moving to Baja full time, selling their U,.S. houses. Will the Baby Boomers be the next big group to come in?

desertcpl - 3-17-2011 at 05:22 PM

for whats its worth, dont have alot of info.but a friend of mine, just bought a place south of Todos Santos,,

Pesdadero

gnukid - 3-18-2011 at 07:19 AM

Anyone here who ever bought a house has a phone contact with a notario who is responsible for closures. That Notario has a contact at the Registro.

Call the Notario and ask them to call the registro and tell you how many registered closure of sales there were. The Notario should be able to make the call while you are on the line and provide some feedback. The secretary may also provide information.

The notario wants to be helpful to you since you are their client. Try it, you are the client.

bajamigo - 3-18-2011 at 08:11 AM

While we're on the line, how much time should we give the notario to concoct a number?
:?:

gnukid - 3-18-2011 at 08:18 AM

Quote:

Originally posted by bajamigo
While we're on the line, how much time should we give the notario to concoct a number?
:?:

If you have no confidence in your relationship/contact with your notario then you are out of luck.

This isn't rocket science, there may in fact be a web page that notes current updates to the casa de registro.

You may use a variety of sources to gather data and make a reasonable conclusion based on the various sources of evidence you have.

Other valid yet simple sources of evidence could be: observed traffic, new paint, traffic at the INM etc... use your best sources and make your assessment.

The method I described would be far more productive than insulting members of a travel adventure forum who are kind enough to reply.

You need to do your homework to get valid RE market information. It is extremely difficult to determine current market value, until the moment a sale is completed.

BajaGringo - 3-18-2011 at 09:17 AM

For what it's worth, I stopped in Rosarito yesterday on my drive down to see my old friend Willie Bautista who served as president of the Asociación de Profesionales Inmobiliarios (APIR) en Rosarito for quite awhile until stepping down last year.

He tells me what we already knew - that sales are way down and only the real bargains are moving. He told me of two recent sales of his in the past couple of months. The first was a very large home (4000+ sq ft / 6 BR) in a nice neighborhood that sold for $100K. The second was a recently remodeled oceanfront in a private community that sold for $225,000.

Both sold for about a third of what they would have fetched five years ago and both were sold to local Mexican buyers.

DENNIS - 3-18-2011 at 10:29 AM

Quote:

Originally posted by gnukid
It is extremely difficult to determine current market value, until the moment a sale is completed.

That figure is derived from comparison. When there's nothing to compare it to....well, what are you left with? :?:

BajaGringo - 3-18-2011 at 01:20 PM

Quote:

Originally posted by DENNIS

Quote:

Originally posted by gnukid
It is extremely difficult to determine current market value, until the moment a sale is completed.

That figure is derived from comparison. When there's nothing to compare it to....well, what are you left with? :?:

Happy hour???

:lol:

Woooosh - 3-23-2011 at 09:50 AM

Quote:

Dear Fellow Nomads: I have been notified by Doug the above post has prompted the threat of legal action from NAOS. So much for free speech and opinions on a Baja message board. For the record: I do not have any first hand knowledge that NAOS is using narco dollars for construction (although that building site (El Oasis) certainly has a colorful past). I did not even say that they used narco-dollars in the above post. My point, which I may have made clumsily, was that the laws of supply and demand are clearly not in play in Rosarito. The real estate market is years from absorbing the existing inventory of unsold or unfinished condos, let alone explain the addition of new condo tower projects like NAOS when no market exists for them in these challenging economic times everywhere, not just in Baja.

More likely NAOS and the other big local developers are upset I have donated the Federal Zone Concession our family holds to the City of Rosarito for the new Malecon (boardwalk) project. Finance North America and Grupo Aries were both named in the video. Ramuma53's legal expert is working hard in the Mexico City courts to remove people from the concession so construction can begin. I have not challenged the Grupo Aries tower that is next to our concession, because it is none of our business. It is up to Rosarito to determine if it wants to build a boardwalk around an illegal condo tower and leave a Trophy Tower to Corruption for everyone to mock.

http://www.youtube.com/watch?v=oCRflD9USro

As Ramuma53 has stated, the sh*t is about to hit the fan in Rosarito over land title issues that affect every potential investors' money in Rosarito Beach . So again, for the record, I have no knowledge of where NAOS gets their money from, nor do I care.

Written from the safety of my Colorado home...

[Edited on 3-23-2011 by Woooosh]

mcfez - 3-23-2011 at 11:55 AM

Free speech? I dont even have that in my own household :-)

Sorry to hear that they threaten to cut you tongue out here.

When I first applied for my first ever ABC License.......it was assumed that all Night Clubs and Bars were owned or/and financed by drug dealers! The back ground check was intense, and the "1000ft from the bar location" neighborhood investigation for approval was rude and crude. ABC actually suggested to a motel owner that I was a member of the Hell's Angels.

To this day...I hear that Clubs in general, are owned by drug dealers!

[Edited on 3-23-2011 by mcfez]

Jeez, let's get real

lookingandbuying - 3-23-2011 at 01:18 PM

First of all you did not say that NAOS "was" or "is" involved with this type of money you merely compared the similar size of projects like them.

Second, do people that are involved with such a large project like that of NAOS REALLY monitor things that are said about their project on Baja Nomands? As fast as that tower is going up you would think they have more things to worry about, like maybe finding buyers?

It is hard to see where you really said anything wrong and that they would be focusing on issues being discussed here. On this latter part, they and the other condo developers would be better off spending their time looking for buyers...as they are a very very rare bird in Baja at the moment. If you knew nothing about real estate activity in Baja and came to this thread it is so apparent about how much activity is happening, NADA.

We'll let you know when it is safe to come out of hiding.

Quote:

Originally posted by Woooosh

Quote:

Woooosh - 3-23-2011 at 03:46 PM

Thanks for the support. Doug gave me the option of deleting or editing my post, he didn't force it upon me and I think he too was confused what the uproar is about. I chose instead to give a clarification and encourage your responses, which I hope Doug finds acceptable. I was threated with legal action over my YouTube video as well. Mexico is what it is and no good deed goes unpunished. I agree that finding buyers should be the developers priority and restoring investor's trust by straightening out the land title legal issues for Rosarito is a necessity.

The only person I regularly tick off prefers to complain directly to Doug in U2U's rather than post her arguments and debate them in forums. Such is the state of our NOB journalists. This board is designed to accommodate discussion of these type issues and our free speech and the freedom to share our opinions here is how we learn what is happening around us. I have an undergraduate degree in Economics and the supply and demand of real estate markets is of personal and intellectual interest to me- so I talk about it and discuss it. So what?

So who is investing in this new construction here in Rosarito Beach when there is no current demand and more profitable locations exist? The Mayor of Rosarito says only 100 sales took place in 2010. There must be 500 finished new empty condos and another 500 units in unfinished rusting hulks. And now people are building yet another new condo project and they wonder why we tend to "think outside the box" when confronted by these economic deviations? Having more money than brains is not a common problem down here and it confuses me. It confuses everyone who goes into business to make a profit.

Let me know when it's safe to come out of hiding in Colorado, or when ski season ends- whichever comes last.

[Edited on 3-23-2011 by Woooosh]

Good stuff

lookingandbuying - 3-23-2011 at 04:18 PM

Personally, I want to get a hold of whatever these developers are consuming cause it sure must put your mind in a state of euphoria. I too have a background in finance/economics and all the supply/demand...guns or butter stuff just does not add up when you look at the supply versus the demand features in the Baja area. I keep hearing over and over that this developer or that developer has a lot of money and they feel the market will be coming back (soon?) and they want to be positioned to take advantage of the opportunity when that happens. SURE!!

Just like the original tower by Calafia that sat empty for a decade or more before the "market" came back. Can it at all be possible that they actually made any money on this tower after all of the carry and operating costs. I once saw an interview with Steve Wynn where they asked him if was was happy that he built the 2nd tower "Encore" next to the Wynn in Las Vegas. He answered hell no!! I would have never built this knowing what I know now but we were in the thick of it and I just could not stop and leave an empty tower next to my original one. At least he was honest.

What do developers do best? They build developments! And, rest assured they will build and build and build as long as there is money given to them to do so. Whoever the "money" people are that are providing funds to the developers in Baja must be high on the fumes coming down from the hills. This is not a business model, at all. Who on this board would pay $300k for one of these places? No one? Well I am sure going to be interested in watching the completion and sales of this building and others along the corridor. :lol:

krafty - 3-23-2011 at 04:35 PM

perhaps they are completing NAOS in anticipation of the convention center being done. Hotel instead of condos?

Woooosh - 3-23-2011 at 05:04 PM

lookingandbuying: The Grupo Aries condo tower near my house (Playa Linda Rosarito) was finished in 2008 and has never been occupied- I am guessing for land title reasons. They have a crew of people that maintain it daily and after it sitting almost three years empty- it takes a lot of work and money to keep it in showroom condition. Talk about diminishing returns. They obviously have money to burn and no bank note outstanding. They wanted $500K for each half-floor unit for the very short time they had them up for sale.

All these developers think theirs is special and deserves top dollar. One good project in Rosarito, Gardenhaus (a "green" townhouse development east of the toll road) has a billboard that says their prices have been dropped from $159K to $99K. $99K for a good walk-to-the-beach townhouse in Rosarito Beach seems just about right to me, not $500K. Oh I'm sorry... NAOS has renamed this area Riviera Baja. When crime happens there, they still call it Tijuana. lol

And yeah, it seems these "enlightened" people at NAOS think they are very special indeed and smarter than everyone else. With organic food in their restaurants Rosarito Beach has magically become "Riviera Baja". I don't see any condo prices listed though. I'm sure some Nomad will know them.

http://www.rosaritonaos.com/

[Edited on 3-24-2011 by Woooosh]

Woooosh - 3-23-2011 at 05:15 PM

Quote:

Originally posted by krafty
perhaps they are completing NAOS in anticipation of the convention center being done. Hotel instead of condos?

That could be smart actually. Or a Condotel project like Torres tried to pull off. But the sales materials look like condos for sale. The new convention center is close, but still a shuttle bus ride away- not really conventioneer walking distance. Not sure Torres would appreciate the competition to his Rosarito Beach Hotel which is only running 50% occupancy. You'll note the convention center made real construction progress only after Torres left office.

Not sure what the convention center has booked for events besides the given of the Popotla Artisans annual event. It will be interesting to see who books it. The Mayor of TJ owns the Grand Hotel and they do convention business too- with a very nice hotel on site.

BajaGringo - 3-23-2011 at 05:18 PM

When I read your original post Wooosh, I see nothing that directly slanders the NAOS project; you only stated the obvious and what anybody down here with any common sense knows / suspects is going on. I do know folks who personally know the developers behind NAOS and they tell me they are well established, well known business folks and are legit. They have deep pockets and they don't need buyers deposits to build / finish the project.

Maybe that is true in this case - they must have a marketing plan that is looooooooooooooooong term...

Woooosh - 3-23-2011 at 05:33 PM

Quote:

Originally posted by BajaGringo
When I read your original post Wooosh, I see nothing that directly slanders the NAOS project; you only stated the obvious and what anybody down here with any common sense knows / suspects is going on. I do know folks who personally know the developers behind NAOS and they tell me they are well established, well known business folks and are legit. They have deep pockets and they don't need buyers deposits to build / finish the project.

Maybe that is true in this case - they must have a marketing plan that is looooooooooooooooong term...

That building site has some interesting history too. I still think the developers are putting their marbles in the wrong place, regardless of how many marbles they may have. Their webpage opens with the Calderon goal "Mexico to be World’s 5th Most Popular Tourist Destination by 2018" so maybe this is their six year plan and they are from Mexico City. It's still not a good or smart plan in this economy. They say they have other NAOS locations planned, so this may be the best option they have in Mexico- which is still rather hard to believe.

BajaGringo - 3-23-2011 at 06:13 PM

Quote:

Originally posted by Woooosh
I still think the developers are putting their marbles in the wrong place, regardless of how many marbles they may have.

Especially in these times we now live; I can think of lots of better returns on investment right now. They should have hired us as their economic advisers - we would have settled for just a % of the net profits...

:lol:

krafty - 3-23-2011 at 07:17 PM

Yeah, Rosarito is not a warm weather destination anymore, at least for the last year or so

Woooosh - 3-23-2011 at 07:28 PM

Quote:

Originally posted by BajaGringo

Quote:

Originally posted by Woooosh
I still think the developers are putting their marbles in the wrong place, regardless of how many marbles they may have.

I guess you don't need the competition in Abalone farming but I'd open a casino or two for them if they were legit. That type of investment I understand, this one... not so much.

Our Girl Maggie knows her print media and has the memory of an elephant. She gives a quick down and dirty on her site today:

"I doubt that they would be coming after Whooosh, this information has been out there for a very long time. I think the US froze some assets years ago (at least real estate assets in the States), and of course the cartels are also involved with real estate in the States. That and construction businesses are very popular with them, they can wash their money. Time shares were a biggie back in the 80's and 90's and of course the Hotel business are also favorites. WTF, they are into everything.

I'm pretty sure other people have written about this, even Stratfor (whom you think or your buddies think is an anachronism) wrote about this many years ago and nailed it. This is not a deep dark secret, not at all.

[Edited on 3-24-2011 by Woooosh]

Woooosh - 3-31-2011 at 05:26 PM

Good news on the Rosarito land title issues. The topic of NAOS came up on another thread, and Ramuma53 chimed in on the legal status of NAOS. I hope he turns this type information into a list for investors. The more legally titled, privately financed (instead of depending on advance deposits) projects like NAOS there are... the more the Mexican government will invest in tourism, like for the Playas de Rosarito Malecon.

http://forums.bajanomad.com/viewthread.php?tid=50209&pag...

"El Oasis was originally sold to El Oasis, by Roberto Ballin De Leon, he acquired it from Moreno y Cia. Suscesores, the Daisy Moreno estate, they do not have a National Land title, but they in the 1990 were being evicted by Ejido Maztlan and they contacted me and my technical team, we did the Ejido Mazatlan basic documents study and found out that they had a virtual execution, their topographical plans were a bad joke and actually had absolutely no land because their expropriation was against the Machado Family that had actually no land at all. We proved all those facts in Federal court and won the case in favor of El Oasis, later the ruling was confirmed in Supreme Court.

About that property, even if they are still over National land, they only have to regularize by paying the nation and the property will be absolutely clear, so I don´t think the investors have anything to worry about, they have a supreme court ruling backing up their right."

tiotomasbcs - 3-31-2011 at 06:21 PM

All winter I've been partyn with Surfers/campers loaded with money/doares!? Lot's of green money and herbal warfare, verdad?! Quote You can't own property, for the people!?/ Love and peace. Slow . very slo9w property sales here and it's great! Slam the door behind me>

Flipper died years ago. Glad the tranquility has returned altho lots of foSale signs everywhere/! La Paz. I ddon't think so! Clueless and thankful! Tio :cool: