Deeds and WeedsJuly 29, 2009

Rough Roundup

ip_icon_03_ButtonDown.jpg

Wow. Thank heavens for this report in today's New York Times. It's about how how the housing market may have scraped bottom. I'm not saying I totally believe it -- I'm just relieved. Because lately, the news on golf course communities and resorts has been pretty grim.

Instead of writing an entire item on each one of these news stories that crossed my desk in recent days, I'll just give you a quick summary:

  • Olde Towne, a planned Raleigh, N.C., golf course community has gone into foreclosure, says TV station WRAL.

  • Developers of high-end communities are having all kinds of (not entirely unexpected) problems in the Hendersonville, N.C., area. The region has an inventory of 84(!) months of homes in the $600,000 range, reports the Hendersonville Times-News.

  • North Carolina developer Keith Vinson, whose Seven Falls project is to include an Arnold Palmer-designed course, is the subject of a not-too-flattering profile in the Times-News. (The gist: People say he's not paying his bills, a charge he denies.)

  • High-end resorts everywhere are being foreclosed upon, and this article from CNNMoney.com dutifully lays out some of the biggest casualties.

  • People living in communities built by Florida's Bonita Bay Group are still gnashing their teeth over a variety of financial problems, the Fort Meyers News-Press explains here.

  • People are still angry at Tim and Edra Blixseth, the now-divorced couple behind Montana's splashy Yellowstone Club. They gave separate interviews to the Palm Springs Desert Sun, and you can read all about it here.

  • Golfers are going hungry. They're shutting the Rattlesnake Restaurant at Palm Springs' Classic Club, former site of the Bob Hope Chrysler Classic.

Like I said: At least the New York Times thinks the housing market may have hit bottom....

--P.F.