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Old 03-09-09, 09:26 PM   #1
RFTC
 
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Default long time baja venturer, awaiting part time residence...

Hola,

I've been visiting Baja Norte since I was 16 years old, that was some 24 years ago. I fell in love w/the place and visited places north and south. I took the plunge into 'ownership' about 3 years back putting a large sum of $ down on 'the residences at playa blanca' project. Well 3 years later and it's still being worked on.

I moved to Texas about 2 years back so my visits have diminished greatly but did make a quick visit in January to check on construction progress and stayed up the road at the for marriott residences. Should be no surprise as i felt like the lone visitor at the hotel but the weather was great and had a wonderful dinner at the french restaurant.

The news is very depressing from afar and now the MSM has jumped all over 'failed state status' stories i can only hope Baja is at a bottom in terms of both real and perceived danger. That brings me back to 'the residences' project. On my last visit, the developers were sober about the slow progress and even discussed equity investment to fast-forward the completion. I am wondering if any of the locals have news/rumours about what is going on from a 3rd party perspective. I may try going on bajanomad forum but would get slammed as 'greedy american investor' etc.

Any insight and ongoing discussion would be welcomed.
Old 03-12-09, 04:28 PM   #2
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Default Re: long time baja venturer, awaiting part time residence...

I have lived in Baja for over 5 years now and have seen th boom and the slow down,I think you have made a great investment at the Residences, they like all others are feeling the economy but have an investor that will help get things going, I totally 100% trust in this developement and if we could just get people to realize that the crime is everywere and just as much in USA cities such as Los Angeles, New Orleans, Detroit as it is in Baja then we will be fine and will fill the hotel at Playa Blanca with lots of visitors. I know you feel frustrated because of the long wait but I think your wait will be over before next year. I hope this eases your mind and if there is anything i can do fo you please let me know.
Old 03-25-09, 07:59 PM   #3
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Default Re: long time baja venturer, awaiting part time residence...

Hi, thanks for the reply. So you have heard of the investment group as well, banorte? my gut also tells me things will start to pick up if/when the deal is inked. Have you heard any particulars like timeline, etc? i last visited in January and the progress was at a snails pace over the preceding year or so.

my biggest concern is that a the deal stalls and we go through 2009 w/out construction progress. they are saying the first units (n tower) are slotted to deliver in the late summer but i cannot see that happening. we will likely not push closing off till summer 2010 even if the development gets completed prior. have you heard of other owners trying to get out of their contracts or sell their interest?
Old 03-26-09, 11:27 AM   #4
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Default Re: long time baja venturer, awaiting part time residence...

YES BANORTE IS WHAT I HAVE BEEN TOLD IS GOING TO INVEST. I DON'T SEE IT NOT BEING COMPLETED BUT I THINK IT WILL NOT BE DONE BY SUMMER. THEY DO HAVE PEOPLE WORKING BUT IT IS NOTHING LIKE AS THEY HAD BEFORE. I REALLY THINK YOU WILL BE FINE BUT THE TIME WILL BE PUSHED BACK YET ANOTHER TIME BUT IT COULD BE GOOD BECAUSE BY THE TIME THEY DELIVER THINGS COULD GET A WHOLE LOT BETTER HERE IN BAJA AND THE TOURISIM MAY BE BACK. I HAVE NOT HEARD OF ANYONE TRYING TO PULL OUT, I THINK PEOPLE ARE JUST HANGING ON AND HOPING THAT THEIR OWN PERSONAL SITUATION GETS BETTER BEFORE THEY AHVE TO COME UP WITH MONEY AND FOR MANY IT IS A BLESSING THAT IT IS TAKING LONGER BECAUSE THAT GIVES THEM MORE TIME, AT LEAST THAT IS WHAT MY CLIENTS HAVE TOLD ME. EVERYONE INCLUDING THE PEOPLE WHO ALREADY LIVE IN BAJA WANTS THE RESIDENCE AT PLAYA BLANCA TO SUCEED BECAUSE THAT WILL JUST BRING SO MUCH MORE TO THE AREA, WE AHVE NO 5 STAR HOTELS OR ANYTHING TO DO IN THE NORTHERN END. I STILL THINK YOU HAVE MADE A GREAT INVESTMENT IF THAT HELPS ANY.





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