Toby Tobin's (gotoby) Blog

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Services for Real Estate Pros - Real estate commentator; GoToby.com, Take Action Propertiesi
RECENT BLOG POSTS
Signaling cash flow woes, Ginn Clubs and Resorts missed principal and interest payments on its first- and second-lien debt according to a LCD report. Lenders have agreed to not exercise remedies for 30 days but have not waived the default. The 30-day waiver on principal and interest payments was ...
07/02/2008
It's said that sellers are the last ones to know the market has dropped. By most measures, the Palm Coast, Flagler County housing market peaked in the summer of 2005. Yet, 2 ½ years later, some sellers still haven't gotten the message. How can that be? It's certainly not because of the lack of me...
06/08/2008
In a heavy turnout on May 21st, voters in tiny Minturn, Colorado overwhelmingly (87%) supported a referendum to approve the annexation of 5,300 acres into their town. The land, located on Battle Mountain a short distance from Vail, was purchased by the Ginn Company for $32.75 million. Ginn plans ...
05/24/2008
I cannot count the number of times people have remarked to me that they believe that real estate commissions are too high. After all, why should someone pay 6% of the selling price of their property when the sales agent may have spent less than 20 hours dealing with the listing? Six percent of $2...
05/01/2008
I just finished covering the Ginn Championship at Hammock Beach. The tournament is part of the PGA Champions Tour. This was the second year Bobby Ginn's Ocean Course at Hammock Beach hosted the event. As a response to the downturn in the real estate market, Ginn made some changes from last year. ...
04/15/2008
The last week of February, the Town Council of tiny Minturn, Colorado voted unanimously to annex 4300 acres of land on Battle Mountain owned by Ginn Resorts. Ginn plans to develop a billion dollar ski resort on the site. The annexation agreement includes a pledge by the developer of $180 million ...
03/20/2008
The Palm Coast, Florida housing market may have reached bottom. February stats continue a trend first noticed in January. In each month, the number of homes available for sale on MLS declined and the number of signed sale contracts increased. My February newsletter showed that even though the num...
03/19/2008
Since the subprime loan sector is shut down, the mortgage industry is looking for new products to sell, products with less risk and with a broad appeal. With the baby boomer generation reaching retirement, the industry will find the perfect product in the reverse mortgage. Many have heard about r...
02/21/2008
Amid an anemic domestic market and news of other developers facing financial crisis, Ginn Resorts presses on with their Ginn Sur Mer project at West End, Grand Bahama. The company released details on the project's progress at a press tour in late January. Bobby Ginn and John Davies, senior vice p...
02/21/2008
Palm Coast, FL - I had an interesting meeting with Jay Gardner, Flagler County's Property Appraiser a few days ago. Our discussion dealt, in part, with Palm Coast and Flagler County's declining property values and the effect the decline might have on individual property taxes next year. Many coun...
11/21/2007
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