A report on the Rosarito Beach/Baja California market, from the latimes.com:
There’s the gigantic Residences at Playa Blanca, which advertises “24-hour gourmet dining” and a “world class spa” on banners next to the highway, but which remains frozen in construction, scaffolds and pipes lined up on the grounds. The fortress-like condos at Las Olas Mar y Sol, which sit next to a steel skeleton structure, are surrounded by piles of trash.
Perhaps the best-known such flop is at Trump Ocean Resort Baja, a luxury hotel-condo project developed by Irongate Wilshire and PB Impulsores. Flamboyant real estate tycoon Donald Trump licensed his name to the resort, whose units sold for as much as $3 million in splashy pre-construction sales events.
But the project was never built. All that’s visible now is a fenced-in hole, faded pink Trump Baja banners waving in the breeze. Buyers, who are out $32.2 million in deposits, sued Trump and the developers last year.
Some observers say the downturn in Baja is just a temporary blip and buyers will come back soon. Rosarito Beach is on the coast, after all, and only about half an hour from San Diego. Prices on three-bedroom condos on the shore start at around $280,000, a fraction of what they’d cost in the U.S.
But the promise of cheap real estate just across the border isn’t quite as appealing when there’s plenty of it to be had in the U.S. too.
“What’s hurting us is that now you can buy a nice Vegas condo for $150,000,” Baja real estate agent Katz said. “We used to be that.”
What’s hurting them is that you might be murdered or kidnapped when you visit your oceanview condo….price means little compared to that!!
clearfund beat me to it. I was going to mex to surf down there quite often (to get away from the socal crowds). I havent been down there in years due to the fact that I’d like to come back alive.
Yep, same for me. We used to rent an oceanfront home/s in Las Gaviotas for years…now its been years.
Would never take the family down there.
“Prices on three-bedroom condos on the shore start at around $280,000, a fraction of what they’d cost in the U.S.”
Yeah, but couldn’t you buy oceanside land in Rosarito for $80,000 10 years ago? Also, agreed with the above. I’ve been to Mexico several times and I speak enough Spanish to ask basic directions and order food…but Richard is scared of the place.
I think Mexico needs to be half the price of Las Vegas if they want to attract any buyers.
-Erica
When I lived in San Diego in the mid to late 90’s it was a regular trip to pop across the border, grab some Kahlua and pottery for the yard, pop back. Thought nothing of it.
No amount of “price” discounts would get me down there these days. Saving a couple of bucks just isn’t worth either the hassle or the risk. Do the kids still slip into TJ for weekend drinking binges where the legal age is lower than the US?
I used to go down about once a month Surfing/Golfing not anymore!!! You guys got it right–especially now that there are hardly any American’s down there, I stand out–plain Gringo. Anyways, I looked into most of those developments between Playa Blanca and Calafia (prior to the “Trump” name change) There were several things I didn’t like about them even when things were good. First, IMHO a modern hi-rise doesn’t really go with the “Baja” vibe–maybe Cabo, but not Rosarito. Second, I would be REALLY concerned about the construction and safety issues with all the bribery/corner- cutting that is allowed/accepted down there–Fire safety??? How about something as simple like plumbing leaks that even happen in the buildings here? Third, supposed Title insurance–I know as Americans we can now own in a “Bank Trust”, but I have heard NUMEROUS issues with them advertising “Stewart Title” on the development and, in fact they have no agreements with them–I was warned that one development next to Calafia (Something La Jolla-with a private beach) was being built partially on someone else’s property. Scarry–I discouraged a client on a deposit he had on Trump–he finally cancelled in time to get his deposit back. Last, financing–even in loose times it was 40% down–tough to re-sell.
I’ve been teaching for a few years and it is more rare for kids (18 year olds) to travel down there to drink. Part of it is the danger and part of it is they don’t have to.
I used to go down once a month when I was in college and grad school. Now I have a daughter and I am afraid to put her at risk. And our favorite restaurant/bar was robbed by armed gunmen a few months ago. I miss visiting the place but not enough to risk my wife and kid.
For me, the boycott of travelling down to Mexico from San Diego started the year that a guy from San Diego got into an auto accident with some government official near Rosarito. The government guy ran a stop sign and plowed into the American. The American was hurt pretty badly and his family was trying to get him out of the country for needed medical care. The Baja officials delayed his release until they got bribes and I think the guy ended up dying. I was so ticked off that I just quit going. Now with all of the violence, I wouldn’t even consider it. It’s sad. I’ve heard that most of the restaurants at Puerto Nuevo have gone under because of the lack of tourists. What a country!
Same here NC. My non-Spanish speaking grandmother used to think nothing of heading over the border for a day of shopping a few years ago.
A friend of my uncle was seriously hurt in a one car accident there not long after the one you mentioned. He needed medical attention badly but it was delayed because of ‘fines.’ They wouldn’t let him be brought to a hospital on this side of the border for nearly 2 days!
No thanks.
Mexico is done. Over.
They had the perfect chance to ride the coat tails of the US and they f’d it up.
My boycott line has already moved up to downtown. I don’t go any further south than 10th ave exit.
One reason for even going down there was for the food….you can get that here in SD
Just yesterday an American named Aaron Smith was beaten and robbed while parked with his girlfriend at the beach in Rosarito. He lost about $350, his car, and his passport. An ambulance had to take him to the hospital for stitches. You won’t see this news in the US papers, but it is all over the Mexican newspapers.
Local Boy, I agree with you about the construction practices South of the boarder.
I used to play golf at the TJ country club as they were building their new club house. One time we saw a couple of guys wailing away with slege hammers on a concrete block wall. Turns out they were knocking out openings for windows.
Who needs headers when you have hammers!
Add me to the list of people no longer going to Mexico! I have many fond memories of visiting down there as a kid, camping in San Felipe and playing in volleyball tournaments when I got older.
There is NOTHING that could get me to cross the border now.
I will never again travel to any parts of Mexico. I used to drop big bucks on travel hotspots, but too many stories and too many shady cops. There is NO protection down there. It’s truly the wild wild west.
I used to own two shacks on the beach about 45 min south of the border. It was somewhere to go where you didn’t mind if your friends stayed too long or trashed the place, so it had its purpose separate from my coastal place US side. The crime started to escalate completely out of control in 2003 or 2004 (can’t remember which of those years) so I sold and got out at “the top”. Crime is worse than out of control. It’s anarchy there now. You are on your own and you’ve been warned.
Haven’t been to TJ/Rosarito since 2005 and don’t plan on going back anytime soon. Wouldn’t even take one of those Rosarito beach condos for free.
Half an hour from San Diego? Does that include the time spent at the border crossing?
After reading all of your stories, how long will it be before the violence starts migrating in significant quantities North of the border?
I’d have to say I’d feel comfortable flying to Cabo, or Canucn, or Puerto Vallarta, etc., provided I’m staying at a resort and will be pretty much within the confines. I won’t drive to TJ.
The Blur, you sure?
http://www1.voanews.com/english/news/americas/13-Killed-in-Mexican-Resort-City-87595992.html
The wife and I went to Cancun just last April (2009). We stayed at a nice (mostly empty) hotel and at first were not afraid to take the bus to/from town or walk-around during the day time. But, after a few trucks drove by, packed full of masked “Federalies” carrying automatic weapons, that was it for us. Not going back to Mexico unless/until they restore order. Having said that – and apologies to JtR for going OT – I plan to vote to legalize it (not criticize it) next fall. We need to have a cease fire on the “war on drugs.” The collateral damage is beyond immoral.
P.s., had a great family vacation in Belize in 2007. I would definitely go back.
I used to surf in baja all the time. But when they started finding just the heads of police officers that wouldn’t play the game I stopped going.
About a year ago my wife and I went to Cancun and stayed at the all inclusive RIU Palace and was amazed by how nice Mexico can be when done right.
Here’s a tip. If you do go to TJ go with a group in a charter bus. Police look the other way at tour buses and if you’re with a group it’s harder to get in trouble.
OT: Jim, thought the little LJ place was nicely laid out, good yard, decent view, etc. but I about fell off the couch when I heard the price.