Stephanie and I took a drive to visit Laguna Shores Resort that we have read so much about in the local English newspapers, Rocky Point Times and Join Us. The resort is currently advertising a 2 for 1 special. Offering two condos for the prrice of one. Whe wanted to know what all the hype was about.
Finding Laguna Shores
Finding Laguna Shores wasn’t too hard. We traveled west off of highway 8 north of town taking the new federal coastal highway 6 miles to the resort entrance. A guard gate marked the entrance to the resort. After we checked-in with the guard we drove the remaining 2 mile stretch on a well maintained dirt road.
I was struck by the remoteness of the resort yet it is was so close to Puerto Penasco. As we approached, a security guard on a 4 wheeler escorted us to the open-air bar and restaurant. Frankly I would not have been able to find the main resort sales office without his assistance. The resort consists of custom home sites, condominiums and apartment style buildings. Many custom homes have been completed or are in various stages of completion.
Sand Pipers and Pelicans
We met up with Wayne Campbell the sales representative of Laguna Shores. Wayne tells us that he is originally from Canada and moved to Puerto Penasco from Arizona after a sever bike accident. Wayne gave Stephanie and I a chance to walk the grounds and take in the view of the estuary. The tide had gone way out, providing us with a stunning view, while watching sand pipers and pelicans scavenge for food.
Laguna Shores Offers Many Purchase Options
Wayne explained to us that Laguna Shores offered a number of different purchase options to meet the needs of buyers. For those buyers that wanted to build a single family residence you buy the lot and bring your own architectural plans that meet the guidelines laid out by the HOA. Most of the newly built condominium have been sold out, but according to Wayne a few properties have fallen out of escrow and are now selling far below the going price of summer 2008. The third purchase option is an apartment style condo complex which is set off from the beach, with the higher levels having the better views.
From what I gather after speaking with Wayne, the sale of the properties at Laguna Shores, as with all resort projects in Puerto Penasco, has really dried up. This is primarily due to the depreciated real estate market in the US. Homeowners in the U.S. no longer have equity in their homes to fund a 2nd mortgage that could be used to purchase real estate in Mexico. Secondly, the two leading U.S. mortgage lenders offering real estate financing in Rocky Point have pulled out of the market. In this market cash is king. Laguna shores has gone as far as offering two condos for the price of one if you come to the table with cash.
Peaceful, Tranquility and Wildlife
The Laguna Shores community pool has been completed as well as the miniature golf course. From the looks of things the professional golf course is still a few years away from construction. Wayne said that electricity was just recently brought to the resort to the delight of many current homeowners. He also explained that the resort is built on high-ground. When the tide comes in from the Sea of Cortez the water flows around the resort creating somewhat of an island oasis in the desert. The estuary, when the tide is out, creates a very peaceful tranquility with an abundance of wild life. If you are in the area, you may want to stop in and see what kind of progress the resort in making.
Kyle and Steph