Ah, lucky we live Hawaii. Investors purchasing at the Trump Baja project in Northern Mexico, just South of San Diego lost more than $32,000,000.00 in deposits recently when the Trump/Irongate venture folded. According to the article, all of the down payments have already been spent by the developer.
At the Beach Villa's sales event, your deposit is being held by a third party escrow company, not by the developer Centex. Also, the Beach Villa's project is completed, you can touch it, feel it, see it and walk in it. Unfortunately, not the same outcome for those unfortunate US buyers who thought they were making a solid investment in Mexico.
We could have been one of them as we went down and looked at Trump Baja. Luckily, we purchased at the Beach Villa's.
Aloha, Alfred--
Original Story 03/06/09: AP New Story
Latest Update 04/10/09: Donald Trump Sues Irongate
The once untarnished Trump Baja Logo
Alfred & Deanna with Coastline Behind Us. The photo is looking up the coast towards the United States
Model at the Trump Baja sales center between Tijuana and Rosarito, Mexico
The line to cross back over the border from Tijuana, Mexico to San Diego, California
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Alfred Harding is a licensed Hawaii real estate professional providing clients with insight and knowledge as it relates to the Beach Villas at Ko Olina on Oahu, Hawaii. You can also find him blogging about the resort at: Beach Villa Resort Blog and on Facebook. Vacation Villa Reservations available at: Beach Villa Resort Reservations.
