Using visual studio 2012 on windows 8 x64 aparantly this is caused by msbuild being moved into .net but I havn't seen how to fix it yet.
4>C:\Program Files (x86)\MSBuild\Microsoft.Cpp\v4.0\V110\Microsoft.Cpp.Platform.targets(44,5): error MSB8020: The builds tools for v120 (Platform Toolset = 'v120') cannot be found. To build using the v120 build tools, either click the Project menu or right-click the solution, and then select "Update VC++ Projects...". Install v120 to build using the v120 build tools.
2>C:\Program Files (x86)\MSBuild\Microsoft.Cpp\v4.0\V110\Microsoft.Cpp.Platform.targets(44,5):
error MSB8020: The builds tools for v120 (Platform Toolset = 'v120') cannot be found. To build using the v120 build tools, either click the Project menu or right-click the solution, and then select "Update VC++ Projects...". Install v120 to build using the v120 build tools.
5>C:\Program Files (x86)\MSBuild\Microsoft.Cpp\v4.0\V110\Microsoft.Cpp.Platform.targets(44,5): error MSB8020: The builds tools for v120 (Platform Toolset = 'v120') cannot be found. To build using the v120 build tools, either click the Project menu or right-click the solution, and then select "Update VC++ Projects...". Install v120 to build using the v120 build tools.