Residential golf course community Cordillera tells its property owners it is considering coming together with Bobby Ginn’s Vail Mt. project in Minturn. Lubert-Adler is the common denominator. Palm Coast, FL – August 12, 2009 (updated) – Bobby Ginn’s company recently lost its bid to secure water rights for its planned private golf and ski resort […]
The number of homes sold (closed) via MLS reaches three-year high but prices remain low. Distressed sales still about 50% of total. Palm Coast, FL – August 8, 2009 – Single-family home sales in Palm Coast and Flagler County, Florida ran at a brisk pace in July, albeit at rock bottom prices. 152 homes were […]
Ocala-based Taylor, Bean & Whitaker Mortgage Corp.’s offices were raided by federal agents Monday. The company has been barred from making federally insured loans. Palm Coast, FL – August 7, 2009 – The third largest originator of FHA insured mortgages has been shut down. In a statement sent to mortgage brokers and regulators, Ocala-based Taylor, […]
The real estate bust and financial markets crisis exposed weaknesses in builders’ golf community development model. Inelastic supply meets elastic demand. Palm Coast, FL – August 6, 2009 – Since the 90s, upscale developers built their communities around golf courses and other pricy amenities. Rising property values expanded home equity as rising equities markets expanded […]
NAR reports fifth consecutive monthly increase in pending home sales index. The first 5-month streak in six years. Palm Coast, FL — August 6, 2009 – Pending home sales are up for the fifth consecutive month, the first time in six years for such a streak, according to the National Association of Realtors® in a this […]
Allegations of alleged fraud were revealing but question of what it all means to the world of golf was never answered. Palm Coast, FL – August 4, 2009 – Real estate developer Bobby Ginn got major media attention for the second time this year and again it wasn’t positive. In May, it was the NY […]
Bloomberg.com reports quarterly results for nation’s three largest builders. Palm Coast, FL – August 4, 2009 – A Bloomberg.com report [full story] reveals quarterly earnings for the nation’s largest residential builders; D.R. Horton, Pulte, and Centex. Highlights include: D.R. Horton reported its ninth straight quarterly loss narrowed to $142.3 million. “Market conditions in the homebuilding […]
Documents show that In the 12 months before its bankruptcy, Crescent paid 17 top executives $9.2 million, an average of $543,000 each. Palm Coast, FL – August 2, 2009 – Crescent Resources, parent of Palm Coast’s second largest real estate developer LandMar Group, paid 17 top executives a total of $9.2 million in the 12 […]
A segment on the Golf Channel’s August 4th Golf in America broadcast examines the effect of Ginn’s collapse on the world of golf at large. Palm Coast, FL – August 1, 2009 – Bobby Ginn was once synonymous with Florida’s booming real estate scene. His numerous Ginn communities were marketed as the ultimate in upscale […]
Palm Coast and Flagler County residents will not have to travel so far to see a movie next year. Palm Coast, FL – August 1, 2009 – The on again/off again saga of Epic’s 14-theater movie complex at Town Center in Palm Coast, FL is on again. A Daytona Beach N-J story discusses Epics recent […]