How apropros! I was filled with good intentions when I committed to start writing the blog again; but somehow Living La Vida Loca in Loreto gets in the way. This past month has literally been a blur of activity that I can not begin to recollect.
My wonderful new office is almost completed … with the basic exception of electricity! This is because the Town Square is undergoing renovation and they will changing to underground wiring, so when I ask when this will happen ... Quien Sabe (who knows)! Although, I am now Loretano and in no hurry… asi es la vida.
When the office is ready, it will be the right time. There are rumors all over town that I have packed up and left for Canada. I have been told that even Baja Nomad is asking if there have been Nellie sightings! I’m still here, pioneering the Wild Wild West. Where else would I be?
I have been house sitting a custom home undergoing some repairs, and becoming accustomed to my wake up call at 7:45 am six days a week, with workers showing up all bright and cheerful ready to start banging and chipping away for the next 8 hours. I have been working from home and enjoy the brief conversations while they come in to get more ice and water to quench their parched thirst.
The most time consuming and rewarding effort this month was being part of the volunteer team that helped to coordinate the Loreto Bay Homeowners Association Groups. The Mission was to create awareness of the new proceedings, invite and encourage owners who are spread across North America, to participate and join the community to have one united voice to express our concerns, questions and wishes for our investments and future. In less than 4 weeks we had 475 people join the group and dozens of volunteers came forward to spend hundreds of hours pouring through budgets and documents. What started as an unaware group that had the potential to be an angry mob, came together to be a unified and organized majority group that now share a common interest other than just a great vacation place. My apologizes for not writing sooner, but this Virtual Community took precedence.
The mood among homeowners is good and they are positive that things will improve. There have been several major investment groups negotiating to purchase Loreto Bay Company in the past couple of months. Rumors in Loreto fly around faster than the pelicans in a feeding frenzy. Most are based upon some fact; however, it is real estate and the deal is never done until the check is in the bank AND has cleared. People “in the know” believe an announcement will be made soon … 2 weeks Loreto time!
In the real estate business, we have been very busy for the past two months. This February and March, we have seen more interested parties looking at real estate than we have for all of 2008. I truly believe that we have hit bottom in Loreto. Prices are down to below 2005 pricing with fully furnished and solid homes. Potential buyers looking for a second home to escape the cold know that when there is an announcement that LBC has been sold, it should create a buzz of activity and now is the time to buy. Also, some owners believe that this is the time to sell so they can take advantage of using the money to pick up short sales and foreclosures in the USA.
In December 2008, we had 15 resale listings in Loreto Bay. Since then, we have sold 2, and two have taken their properties off the market. Now, we have 25 resale listings and it’s a good thing I have Drew, Dee, and great working relationships with the Loreto Bay Sales Agents to handle the buyers and showings. It makes such a difference to be on the ground and available 24x7 to assist the buyers and take care of the properties. Times are tough, the economy is bad, and now is the opportunity to work and build for the future. I am now pretty much dedicated full time to my listing clients, especially now that there is no requirement to list first with Loreto Bay Company. If you are thinking of listing with another broker … ask them how much time they spend in Loreto and what their working hours are? Then call me!
Serendipity often happens in Loreto. We had a wonderful story the last couple of weeks. I met Bob Ryder in November 2003 when he came for the initial Loreto Bay launch and purchased lines in the sand. I worked with him, as with all homeowners for over a year until we actually closed on the lots. Unfortunately, he had to back away from the deal for personal reasons in 2005. Someone recently told him about my website www.doradoloreto.com and he happened to see the exact unit for sale. He contacted me on Sunday and made an offer Tuesday which was accepted by the Seller; put down his 10% nonrefundable deposit on Wednesday; and Thursday flew to Loreto to see the lot he originally purchased five years ago.
Bob spent a week in Loreto, and found it difficult to leave his new friends, sense of tranquility and fresh start. He is excited to be part of this incredible community and will be back as soon as he closes to furnish and make his place home. He has a beautiful brand new home without any of the anxiety, frustration, and stress of dealing with the unknown construction timelines. As I often say in Loreto … things just work out. We decided that Casa Deja Vu would be an appropriate name of his new home.
My life is never dull, and I do make time to play too. Recently Adam and Tony of T&A Pools, along with several friends organized an incredible beach party at Honeymoon Bay on Danzante Isle. Everyone pulled up in their boats and there must have been 50 people enjoying a lazy Sunday afternoon. The food was incredible, with steaks, ribs, chicken, clams, salads, 2 birthday cakes for our good friend Tom!
The weather has been perfect, mid 80’s with little wind. There is nothing better than being on the water in Loreto. No emails, No telephones, and especially No Questions! Fishing season has started and people are catching 40 to 50 lb jurel (yellow tail) and we should have Reel Trouble back in business in a few weeks. Tourism is still on the decline and the local people are feeling the pinch. Please remember that as residents we don’t spend tourist dollars like we used to, so tipping and frequenting local restaurants, bars and shops is greatly appreciated more than ever.
That’s it for now. I wonder what will happen in the next few weeks? Quien Sabe? I am sure it won’t be dull! Take care and have a great week!