Suspended

Loreto Bay News

Well, this is an interesting end to our vacation down here.  The community has been trying to find a new owner for a while now.  We've known they were in serious trouble financially.  And I can't even say we were surprised to receive the following email from Loreto Bay.  Nonetheless, bummer!

Dear Homeowners,

TSD Loreto Partners, S. en C. por A. de C.V. (the “Company”) regrets to inform its clients and stakeholders that, due to the challenging situation in the international real estate and financial markets, all operating and construction activities for Loreto Bay (the “Project”) will be suspended.

To assist in securing new equity funding and a long-term suitable buyer for the Project the Company hired Cushman & Wakefield. Several potential buyers and investors have visited the Project over the last few months, yet in the context of the current economic crisis and credit shortage, the Project has been unable to secure a buyer or new investor.

We regret to inform you that until new funds are secured, as of June 7th, 2009 all hospitality related operations will be suspended and as of June 8th, 2009 all construction related activities will be suspended.

Please note that all homeowners with a home under construction, and all other homeowners will receive further information as it becomes available.
 
At least our home is complete.  This was the first thought that came to my mind after reading the email.  The next one was, if this was going to happen, why the heck couldn't this have happened the day we arrived.  Would have saved us a bit of dust while we've been here. :)
 
As you can imagine, the social networking sites are abuzz with LB homeowners speculating as to what is next.  What I am reading (which is currently unconfirmed rumors) is that Property Management will continue to run.   Since our HOA is run separately from the Loreto Bay project, that means landscaping and maintenance of it will continue as normal.  These two are the most important in terms of our ability to continue to enjoy our home in the future.  The new community pool should continue to be maintained, though I'm sure the pools at the Inn will be closed off and/or emptied since the Inn will be shutting down (temporarily?).  That's not a huge deal, but it's the only restaurant within walking distance.  And the food at the pool bar is awesome.  I kid you not.  So, we're in for a bumpy ride.  I'm so thankful our house is complete.  There are lots of people who have unfinished homes and are in for a lot of money without a usable house.  I feel so badly for them.  I think it's fair to say that both D and I are confident that someone will buy the community eventually,  but we're going to have to hang in here a while.  Hopefully a buyer swoops in because I fear that without that, the flights directly to Loreto will cease.

 
Swim outfit

Continuing with my obsessing about my lovely rash guard for swimming ... I found the first major flaw with it.  Well, maybe not the rash guard since it is very snug fitting.  For bottoms, I've been wearing these black capris (ish - they're a bit shorter than capris and longer than shorts) I bought for yoga.  I must look like I'm climbing into a pool whilst fully clothed, but whatever.  Well, today - the day the pool was the busiest we've seen it with maybe 10 other people - I discovered the flaw.  The more time and movement in the pool, the more air bubbles that build up in the pants and rash guard.  This basically makes it look like I'm farting up a storm in the pool.  I kept saying, very loudly, how annoying the air bubbles were.  I'm not sure if anyone bought it. For the record, I didn't fart a single time in the pool, so those were all air bubbles.

Last Day

For our last day full day, I napped for quite a while this morning while D and Avery hung out in the casa.  Then Avery went down for a nap after I woke up.  After Avery woke from her nap, we decided to hit the pool one last time.  We had planned to go to dinner at what is widely considered to be the nicest restaurant in Loreto, but when we were at the pool, we both decided that hanging out longer and then eating at the pool bar was more our speed.  Avery agreed.  Then we all walked back the the casa with Avery enjoying sitting on the various doorsteps, picking up rocks, and generally being a toddler.  It was perfect.  Even the above email has done little to spoil my love of this place. 
 
Tomorrow we now have a full day of chores.  We had planned to pay for a check-out cleaning, but given the email above, I don't think that will be possible.  So clean and launder we must.  Shouldn't be too bad.  We've done a fairly good job of cleaning up during our stay.