tehag
Super Nomad
Posts: 1248
Registered: 1-8-2005
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LB caveat
Attached to an ad from LB:
Disclosures:
California Residents
Disclosure provided in compliance with CRS Section 10249.9, California Statutes:
WARNING: THE CALIFORNIA DEPARTMENT OF REAL ESTATE HAS NOT EXAMINED THIS OFFER, INCLUDING, BUT NOT LIMITED TO, THE CONDITION OF TITLE, THE STATUS OF
BLANKET LIENS ON THE PROJECT (IF ANY), ARRANGEMENTS TO ASSURE PROJECT COMPLETION, ESCROW PRACTICES, CONTOL OVER PROJECT MANAGEMENT, RACIALLY
DISCRIMINATORY PRACTICES (IF ANY), TERMS, CONDITIONS, AND PRICE OF THE OFFER, CONTROL OVER ANNUAL ASSESSMENTS (IF ANY), OR THE AVAILABILITY OF WATER,
SERVICES, UTILITIES, OR IMPROVEMENTS. IT MAY BE ADVISABLE FOR YOU TO CONSULT AN ATTORNEY OR OTHER KNOWLEDGEABLE PROFESSIONAL WHO IS FAMILIAR WITH REAL
ESTATE AND DEVELOPMENT LAW IN THE COUNTRY WHERE THE SUBDIVISION IS SITUATED.
Arizona Residents
FUTURE DEVELOPMENT PROJECTS
PRESENTLY, THERE IS A RESORT HOTEL, A GOLF COURSE AND A TENNIS CENTER LOCATED WITHIN THE VILLAGES OF 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.
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CaboRon
Ultra Nomad
Posts: 3401
Registered: 3-24-2007
Location: The Valley of the Moon
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Mood: Peacefull
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Really makes you want to buy 
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Osprey
Ultra Nomad
Posts: 3694
Registered: 5-23-2004
Location: Baja Ca. Sur
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Todos Santos Ron, how you doin'? This post is not like you. Short, means nothing. Come on out of your shell again. Tell us all why/how we should not
buy where/when/ever sr. guru.
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Phil S
Super Nomad
Posts: 1205
Registered: 10-28-2003
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Mood: After 34 years. Still in love w/ my wife
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Ran across some great pic's of the project including the canal development that I wasn't aware thats being built. A real eye opener.
www.flickr.com/photos/loretobay/ Guess CitiBank is still committed to finishing this project.
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wilderone
Ultra Nomad
Posts: 3881
Registered: 2-9-2004
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The so-called "estuary" looks like a stagnant swamp. Absolutely unnecessary and serves no purpose. And I don't think Citibank is committed to
anything except deflecting lawsuits for fraud. Weren't all who bought promised A DESALINATION PLANT, WIND FARM ENERGY FACILITY, FISHING PIER, NEW
MARINA, SPA, BEACH CLUB AND THE VILLAGE CENTER, INCLUDING RELATED AMENITIES? And it's still a ghost town.
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Pescador
Ultra Nomad
Posts: 3587
Registered: 10-17-2002
Location: Baja California Sur
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| Quote: | Originally posted by Osprey
Todos Santos Ron, how you doin'? This post is not like you. Short, means nothing. Come on out of your shell again. Tell us all why/how we should not
buy where/when/ever sr. guru. |
My daddy used to say, " If you are so cottin' pickin' Smart, how come you are so cottin' pickin' broke." I get the feeling that Todos Santos Ronnie
wasn't going to make a real big impact on the local economy anyway.
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vandenberg
Elite Nomad
Posts: 5118
Registered: 6-21-2005
Location: Nopolo
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Mood: mellow
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| Quote: | Originally posted by wilderone
Weren't all who bought promised A DESALINATION PLANT, WIND FARM ENERGY FACILITY, FISHING PIER, NEW MARINA, SPA, BEACH CLUB AND THE VILLAGE CENTER,
INCLUDING RELATED AMENITIES? And it's still a ghost town. |
Even in the original literature those amenities were only proposed with the stipulation that actual fruition/completion was not implied. No grounds
for lawsuits there.
These folks were not "born yesterday" as the saying goes.
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wilderone
Ultra Nomad
Posts: 3881
Registered: 2-9-2004
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At the sales presentation that I attended, it was pretty much inferred that all was to happen by "build out" regardless of the fine print. They may
not have been born yesterday, but a lot of them are from Canada - speaks for itself (sorry, Shari). As late as June 2007, in their inaugural
sustainability report, after hundreds of homes had been sold, they continued to state that "by build-out we will have a 60 megawatt utility" (wind
farm) [and] "All of the electricty used at Loreto Bay will be generated by wind." (p. 10); that they "are moving forward with plans to build an
eco-benign desalination utility); and "Loreto Bay's marina is planned for phase 4, with construction to start sometime in 2009." (p. 18); "It is our
goal to realize housing for over 1000 employees by the end of 2008" (p. 23). In October '05, their Village View publication continues to reinforce
the intention and promise that "the Village Center is an island located where it all flows together. Cafes, studios and galleries populate the edges
of this vibrant village center". A 3-page-high gloss-color brochure states "A fishing pier will offer opportunities for both anglers as well as those
who appreciate a spectacular sunrise. While a new marina will provide safe, convenient moorage for residents and visitors. And the Village Center
will feature a beach club, pools, spa, a medical clinic, fitness center, shops, restaurants, a hotel and other services." In Feb. '06, the Village
View stated "The Beach Club ... proper will spend most of 2006 in the architectural detailing stages. The plan is to have the first dirt turned on
this amenity by the end of 2006." Oct. '04 Village View: "One of the most exciting built amenities ... will be The Beach Club. We are delighted to
be able to show off this new rendered image, and a few details of the Club.... The Beach Club was designed by Hill Glazier Architects.... The Beach
Club will be home to a rooftop restaurant and bar overlooking the pools," etc." Dec. '05 Village View: "Los Elementos Day Spa to Open in Late 2006"
with 5 paragraphs devoted to the services this spa would have, to include mud and herb treatments, body exfoliation, seawtaer treatments, a
waterfall, facials, massages, showers, couples room, tub, yoga, etc., etc. Over and over they hyped that stuff at every opportunity with direct
statements which were unequivocally NOT premised as a proposal. THAT IS WHAT THEY WERE SELLING. And that is why people bought. The fine print may
have provided some protection for the sellers, but that doesn't mean there weren't reckless, irresponsible statements made to induce people to buy
into a fantasy.
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Phil S
Super Nomad
Posts: 1205
Registered: 10-28-2003
Member Is Offline
Mood: After 34 years. Still in love w/ my wife
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Wilderone. Which presentation did you attend, and was it in the beginning when they were 'steamrolling' everyone? When were you down there to
actually see the "emptyness" of people.? I presume that if it was recent that I could rent a unit for close to nothing, huh, when we are there next
week. got any idea, widerone who is managing the rentals. Have you looked into it? Thanks for your info.
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