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Reflections on Punta Banda

Story of Punta Banda Ensenada Baja California - Reflections on punta banda, who screw who?.

Since the Punta Banda debacle, just south of Ensenada, in which numerous Americans were evicted from their luxury beach homes, my U.S. friends and family members ask: "Did you lose your property in Punta Banda?" Hell no, is my response. Do you think I have been spending the last seventeen years of buying and selling property for foreigners in Mexico to lose my own property due to legal problems?

I really get annoyed at the question that implies I might be stupid enough to buy property whose title is not legally secure. It is not just ego that causes my annoyance. I have never had much credibility with my family anyway. What is most annoying is the assumption that buying any property in Mexico is risky.

 waste of money Most of the Punta Banda buyers knew the property was in litigation when they bought it. When I relay that fact to skeptics, they look at me incredulously. Not convinced that it was a case of "leaving your brains at the border". I vainly attempt to convince Mexico detractors that property laws do exist in this country. Laws that will protect your investment if you follow them.

In 1986, I addressed 150 members of the homeowners association that were evicted. My presentation was intent on convincing them that their law suit was doomed. I had done the due diligence on this property in 1984 and realized that the duly registered and legal owners of the property were their adversaries in the law suit.

The farming cooperative (ejidos), representing themselves as the legal owners, aligned themselves with the developer. Unfortunately these ejido members were really squatters. My advice was to negotiate a settlement with the legal title holders. However, their lawyer's convinced them to litigate. Their lawyers earned large fees in taking the case "all the way" to the Mexican Supreme Court.

When I tout Mexican Real Estate to my friends their facial expressions reflect a look that says: "Sure, Jose, I remember your Berkeley lifestyle in the 60's, your brain is fried". I persist in explaining that I have successfully purchased properties throughout Baja California and Baja California Sur for more than 200 different foreign families or foreign owned Mexican corporations. Yes you can own your beach home risk free with a bank trust or a Mexican corporation. Despite my proof sources most U.S. citizens hold fast to a "I don't trust Mexico" position.

The negative media barrage about Punta Banda, and other negative press, has damaged my consulting practice, foreign investment and tourism in Mexico. Unfortunate that a greedy developer, dirt poor peasants and buyers wanting to believe what was too good to be true, caused so much distrust for Mexican foreign investment. Avarice had a lot more to do with this tragedy than corruption in Mexico. The con man always uses greed to get your money. These upper middle class folks from Orange County could not believe what a "steal" these beach properties were at 45 to 175 thousand dollars, depending upon when they purchased.

They created a buying and new home construction frenzy propelled by the developers U.S. marketing team who spoke no Spanish and knew nothing about Mexico, let alone real estate property law. That is correct, gringos sold gringos, Mexican sales people were not welcome on the sales team. In addition to new lot sales, U.S. citizens ran the two major construction companies, who built the majority of beach homes. A Punta Banda real estate office was opened to handle resales as gringos began buying multiple lots for speculation and building condos for rental income purposes. You guessed it, the realtor handling resales and property management was a U.S. realtor. Did Mexico screw these buyers or did their countrymen?

Now you know the whole story. So come on down and take advantage of great beach property bargains. If you are planning in retire in Punta Banda or you found a house in Punta Banda for Sale and want to know if is it safe?, we will tell you how to do it safely. If you don't believe us ask Chicago Title, Steward Title, First America Title, they can provide your title insurance.

After the big issue for this land in punta banda, finally the title was cleared and returned to the real owners. Wich some of them are selling, if you're interested on buying a house in Punta Banda, call us for a recomendation or advice, our experience working in Ensenada can tell you if it is a safe investment or not.

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