Golf courses
Just got back from trip and visited with sales team. Ritz has pulled out and will no longer be involved with any development. Golf course has not been started and there was not even an indication of when construction would commence - they have no financing to build the golf course. Apparently, it is the responsibility of Nicklaus to come up with the financing, as they gave him ~40 prime lots in the development for free in exchange for the development of the golf course. However, my guess is that sales at Quivira are not going well (let's be honest....how many people are buying $3mm+ homes in Cabo right now) and that they won't be able to secure financing until sales on homes for both Nicklaus and Quivira pick up.
Most disappointing of all is that one of the two golf courses will be closed except to private home owners. This was not communicated to me when I purchased at the Montecristo in 2006. I was told that we would have access to both courses.
Anna S.
jasons48 wrote:Hi, I am interested in purchasing weeks in March howver I am contemplating the thought of buying the cheapest resale weeks I can find and trading with the Registry Collection each year for March or April weeks. Your thoughts? Thanks,MIkeI have owed my unit for several years now and we are at the top of the hill in a perfect location. Who knows about the club house... completion date is always changing. In reality, I am not sure if it really makes a difference. I feel the same about the Golf course unless you love to play golf. It will probably be several years before it is done and probably will not be what we expect. Montecristo has done a horrible job managing expectations when it comes to these items. On the other hand, I love the property. We own the month of August. I trade it all of the time through the Registry Collection and it has been great. Forget the rental market. What month are you looking at purchasing? Maybe I can give you more insight about the property or what it is like to be an owner.
g
Mike G.
We love our unit, and enjoy all of our time at MonteCristo. The staff is superb and we are treated well. However, I have a hard time believing anything a salesperson tells us anymore. Contrary to what Annah was told yesterday, in our owners meeting just 2 weeks ago, we were told by Dirk Meyer that they do have private financing to move forward with a golf course and some landscaping, and that was their priority - that could/would be accomplished in a few months - as it is much easier to do that type of landscaping than to build actual units. I can't remember his exact words - but he said that the "naysayers" would finally be proven wrong. He attributed all delay in the development to the US economy problems.
Lisa G.
