Friday, July 30, 2010

The ‘One’ Deadly Sin Of Puerto Peñasco!

-by El Gitano Peñasco, "The Peñasco Gypsy"

While refreshing my memory, something at my age I seem to be doing constantly these days, and reacquainting myself with those “Seven Deadly Sins” it became obvious that somewhere deep in my subconscious I was also worrying about the financial future of our beloved Puerto Peñasco when something popped into my mind as if I was hit with una bolsa de 20 kilo de harina!

As most of us recognize, a significant portion of Peñasco’s economy became more dependent on tourism dollars this past decade or so and especially during the ‘boom’ years that brought down more investors (property buyers), renters, visitors and holiday-makers, mostly, from Arizona

Those hay days are all but a faint memory now and a big part of today’s economic woes in PP originated from and can be directly attributed to, IMHO, the ‘pump’ and ‘dump’ real estate charlatans, many of whom came down and exploited anyone and everyone they could get their greedy (aka: the ‘Sin’) little hands on.

And I do mean everyone, as during those years I even met a waitress from one of the few restaurants in Gila Bend, AZ who was desperately saving up her tips while her husband, working a day-labor job, took on a part-time night shift at the convenience store so they could ‘come-on-down’ for the gold rush that was being created out of ‘air’ by those self-proclaimed real estate and investment Gurus…

How many of those hard-working folks who bought purposely-overly-inflated properties is anyone’s guess, but I know for sure that waitress and her dear hubby lost everything. As she told me a while back, “We’ll never go to Rocky Point ever again!” Considering they are only in their 30’s, that is sad. And how many other people will be affected when they share their tale of woe?

As the economy in Peñasco improves, and it will, from this day forward every real estate ‘agent’ be they a Gringo, a Mexican or whoever needs to adhere to sound selling practices and advice, somehow be prevented from their personal “greed” (the “Sin”) temptation and sell Peñasco real estate for what it is, and not what they ‘say’ it will be (“Another Cabo, Vallarta...)

And if these people can’t sell seaside property strictly on its merits and long-term values for the purpose of (e.g.) 2nd home ownership or retirement, then the community leaders who don’t run ‘em out of town are just as guilty of the same “Sin” and they, too, need to be dealt with accordingly.

¡Viva Puerto Peñasco y México!

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