New York Judge approves final settlement of $425 million foreclosure on Ginn’s $4.9 billion project in the Bahamas. Palm Coast, FL – January 8, 2010 – The New York Supreme Court has approved the settlement of Credit Suisse’s foreclosure action against real estate developer Ginn-LA’s (Bobby Ginn and financial partner Lubert Adler) $4.9 billion mixed-use […]
CS allegedly extended predatory loans to Ginn sur Mer, Lake Las Vegas, Tamarack, and Yellowstone Club in order to gain control once they defaulted. Palm Coast, FL – January 6, 2010 – Credit Suisse Bank and real estate service firm Cushman & Wakefield defrauded developers and property owners at four luxury resorts; Ginn sur Mer […]
Contract activity for pending home sales fell after a surge of activity in preceding months to beat the original deadline for the first-time home buyer tax credit but remains comfortably above a year Washington, January 05, 2010 – Contract activity for pending home sales fell after a surge of activity in preceding months to beat […]
An article in the St. Petersburg Times points out the problems; investigations are paperwork and labor intensive. Investigative agencies are short staffed. Fraud is hard to prove. Palm Coast, FL – January 4 – GoToby has been reporting on mortgage fraud for nearly three years as evidence grew that mortgage fraud was a major contributor […]
Members get Quail West’s two courses and clubhouse debt-free. Both Tesoro courses and clubhouse are open with help from developer subsidies. Palm Coast, FL – December 31, 2009 – Two golf course communities once owned by Ginn-LA (Bobby Ginn and financial partner Lubert Adler) were sold at a bankruptcy auction this year. The developer owned […]
In January 2010, one birth is expected to occur every eight seconds in the United States and one death every 12 seconds. Palm Coast, FL – December 29, 2009 – From the U.S. Census Bureau in Washington DC: On the eve of the 2010 Census, as the Census Bureau prepares to conduct an actual count […]
Ski resort developers suffer from reliance on real estate sales revenue to support expensive operations Palm Coast, FL – December 25, 2009 Story by Will Melton | December 2, 2009 Montana Kaimin Until the mid-90s, ski resorts were created for skiers. Of course, real estate was big business too, but developers built ski areas where […]
They apparently missed their deadline to file a petition with the Value Adjustment Board so they have filed a lawsuit. Palm Coast, FL – December 24, 2009 – Crescent Resources, the parent company of real estate developer LandMar Group has filed a lawsuit against Jay Gardner, Flagler County Property Appraiser over the assessed value of […]
Hammock Beach Club and Grand Haven; formerly private are opening up their doors to those who live outside the gates at attractive prices Palm Coast, FL – December 24, 2009 – GoToby.com started reporting months ago about the cash flow difficulties faced by golf courses around the country. At least two local golf courses are […]
Branch in Palm Harbor Shopping Center one of 29 acquired by Hancock Bank Palm Coast, FL – December 22, 2009 – Bank regulators shut down Panama City-based Peoples First Community Bank on Friday. A news release stated that the savings bank “was critically undercapitalized and in an unsafe and unsound condition to transact business.” Peoples […]