Billboards in English beckon prospective home buyers to purchase a slice of the good life in northern Baja California. Home equity-rich Californians and Arizonans snapped up vacation properties as if they were buying $10 lobster dinners. But investors who had hoped to flip condominiums are having trouble finding buyers. (Rick Loomis / LAT)
One of the most closely watched projects is the Trump Ocean Resort Baja north of Rosarito. The development will include more than 500 luxury condominiums, upscale restaurants and a spa. Builders recently broke ground on the first tower. Despite the high prices -- $279,000 to $3 million -- 80% of the 230 condos have been sold. But pre-sales in the second tower have been slow. (Rick Loomis / LAT)
Earthmovers make progress on the Trump Ocean Resort Baja. A project spokesman says investors know that Donald Trump has a proven track record and the deep pockets to ride out the market turbulence. (Rick Loomis / LAT)
Advertisement
Interest in the Trump Ocean Resort Baja is strong, according to a project spokesman who said a June sales event yielded $45 million in contracts in just five hours. Still, some Baja real estate veterans worry that other projects will fold. (Rick Loomis / LAT)
Flamboyant deal maker Donald Trump figures prominently in marketing material in the Trump Ocean Resort Baja sales office. The Trump Organization, which he heads, is a partner in the development. (Rick Loomis / LAT)
A model of Trump Ocean Resort Baja, where units will sell for about double the going rate around Rosarito. (Rick Loomis / LAT)
A placid view of the Pacific Ocean from the Trump resort belies the angst felt by some investors in the area. (Rick Loomis / LAT)
