Sapphire Beach

[pedro]

You have got to be kidding David Patterson -gm of SB has told everyone that he is buying an appt. at Ambergris Lake Villas-well guys and gals -you hear it here first,after him telling the local realtor I am out of my hotel room which I have lived in for the past year and am on my way to see you-after three days of this he disappears alltogether -he is now in Florida-seriously anyone who purchases in SB has got to have been incredibly lucky in Las Vegas -is totally missing the depression that the world is currently in-or has always has way too much money to realise that for most normal people it is fairly hard to come by.
My photographer has hurt himself but he promises by the weekend that he will have visited that hive of activity and no doubt the pictures he will take will not tell the whole story.

[MaryMoore]

I know the family and they just moved into their house not far from Ambergris Lake Villas they are building a 2nd story to the house now. Mary 

[Moose in Belize]

Lots of pictures at http://sapphirebeachambergris.blogspot.com/
David Peterson Sr. told us he was building a house at Mansions at Banyon Bay last November, but would eventually be moving to Sapphire Beach, although his wife couldn't tell us which unit they would be occupying. This development has been constantly downsized, probably due to slow sales. What originally started off as 32 quaint buildings of 1 or 2 floors, with thatched roofs, has become 23 buildings, some 3 or more floors looking like mini-hotels, and may change further as some are shown as future development. The proposed convenience store is gone. The furnishings are no longer included, but have become an option. Prices have gone up. We were told that a 1 floor building could be built in 60 days and 2 floor buildings in 90 days. While at least 3 buildings were under construction over 6 months ago, none are completed. Some buildings are shown on the website as "sold" but no construction has begun. Mr. Peterson seems like a nice man and I have no reason to distrust him, but this development is really dragging. Some individual unit prices drop occasionally to stimulate quick sales. This remains an interesting development to watch.

[pedro]

Nothing really happening-David looks like he has lost 50k on buying a property next to Casa Pisces-this guy can lose a lot of money on reneging on deals-

[pedro]

Just look work has stopped at SB due to the ill health of the developers wife-you have got to be kidding me-the excuses just keep on coming-if I was crazy enough to have invested with David Petersen I would be asking for my money back and would be happy just to get half-however I suspect that there will be no reimbursements

I would be interested to see what they would give back -my guess would be around 10%-and the contract between SB and the investor would run into multiple pages with a non disclosure clause -absolving developer of any wrongdoing and that it was the investor's fault for canceling the contract

[NGM]

Pedro, you are right on.  Investors are asking for their money back and he's not giving a cent, just excuses.  My guess is that the money is long gone.

[pedro]

well if they had only listened to me on the other board but the problem of to many administrators is that some of them had interests in DP-my guess is that with his latest default that it is unlikely that he will come back.

How many people are asking for their money back

[Moose in Belize]

If you look at the SB blog, http://sapphirebeachambergris.blogspot.com/, you will see that the comments from purchaser's have dried up. Of course, the blog administrator won't post negative comments. All the pictures show construction, but no residents. This project has been going for a year and nobody has moved in yet. Not a good situation.

[NGM]

That's because NONE of the units are done and as of July there was no electricity, or water system in place.  Window and doors are cracking, so supposedly they are being reordered from a different source.  Many of the owners were billed for them months ago but nothing is on site.

[Chris]

"Mr. Peterson seems like a nice man" ......Alrighty then!! Where do I sign and how much cash do you want down!!?

[caribbeantravel4]

Someone needs to contact Sally1.  She always seemed to be up on the goings on up yonder.  She has gone suspiciously silent.  Pedro was spot on, it should never have taken so long to build rectangular block buildings with a palapa roof. 

[pedro]

Sally1 is a member of this board and has already threatened to sue me-will get admin to post her membership application and subsequent acceptance-it is good that I am always correct but it is such a shame that a number of people look like they have funded DP's lifestyle and have lost not an insignificant amounts of monies -I wonder what the other board and San pedro Daily will say about him now but they should have said it well over a year ago thereby saving a number of investors a great deal of money-what they said as did a number of realtors "we cannot be sure that they are crooks or fly by night operators"-"we think they are but we have no responsibility for telling people how to waste their monies"-in other words some would and probably still will take their enormous fees to still sell SB

[Admin]

As requested...

Subject: Welcome to All about San Pedro, Ambergris Caye, Belize

Your registration request at All about San Pedro, Ambergris Caye, Belize has
been received, Sally1.

etc etc...

-- Reply --

Just to let you know that you are looking for a lawsuit if you let Pedro go on spreading slanderous lies about a competitor of his. I guess this means that you won't approve me for posting on your board, huh? Afraid that I'll speak the truth? We all know that you can't take the truth my lovely dear friend Pedro.  Oh well... I knew you weren't man enough to let me post on this board.- Sally1

-- Reply --

You've already been approved to post. I will pass this message on to Pedro.

[NGM]

Well, whoever Sally is, she is not the only one to threaten a lawsuit.  Peterson throws that at you if you ever question the progress of SB.

[Moose in Belize]

Chris, I'm not defending my comment that Dave Peterson seemed like a nice man, that was my observation based on an initial meeting and a boat ride and visit to the site. He was warm and friendly, although he did have that typical American arrogance that non-Americans quickly recognize. In other words, he made an good initial impression but was obviously a salesman. My professional training allowed me to see past his promises and representations about Sapphire Beach and judge a possible investment in the development on its merits. I am not a gambler. I was there on my own dollar and not as a guest of Dave Peterson. If the development is in trouble, I sympathize with the investors who sunk their hard-earned money into a dream that may become a nightmare. His wife also seemed like a nice woman and I am sorry if she is seriously ill. I suspect that none of us know all the facts and circumstances, so we should be careful not to judge unfairly.