Brightwater Huntington Beach reduced 300k?

NEW -> Contingent Buyer Assistance Program
this place is a train wreck. my wife and i first visited this place like 2 yrs ago. i couldnt believe the prices, large view homes were over 3mil at that time. next to the wetlands in an area that smells like sewer at times. dont get me wrong, i like them but i thought they were like 50% overpriced. i have been going to check out the prices for what seems like the last 2yrs. they are now cutting prices. just got an email last week for one of the homes at 1.4mil , use to be 1.8mil if my memory is correct. the sales people are somewhat rude because they are frustrated. i cant believe their sales. i thinkt he 20mil in sales they reported were the 14 or so homes they sold to a private equity firm a few months back. i cant believe they dont cut the prices some more and bite the bullet. they should have done that over a year ago.
 
[quote author="frugalwithclass" date=1249990466]sorry to have to ask but does anyone know how i remove my profile name (the part that reads living with parents) i have no idea how that got there LOL</blockquote>


The "living with parents" is part of the classification system based on the number of posts. The more posts you make, the better your "accommodations."
 
[quote author="frugalwithclass" date=1249990466]sorry to have to ask but does anyone know how i remove my profile name (the part that reads living with parents) i have no idea how that got there LOL</blockquote>
You need to post more often like me and get the Custom Estate status. :cheese:
 
Oh nooooo! <a href="http://sec.gov/Archives/edgar/data/840216/000110465909057625/a09-29514_18k.htm">Looks like chapter 11 is around the corner</a>. It was inevitable.



And for those who worked for Cal Coastal and came on here acting like jerks and changing your screen names... I told you so!
 
<a href="http://huntingtonhomes.freedomblogging.com/2009/10/02/brightwater-developer-misses-17-million-payment">Here you go, Graph</a>
 
Chapter 11 filing announced: <a href="http://huntingtonhomes.freedomblogging.com/2009/10/28/bolsa-chica-developer-files-for-bankruptcy/66825/">http://huntingtonhomes.freedomblogging.com/2009/10/28/bolsa-chica-developer-files-for-bankruptcy/66825/</a>



Company press releaseweb announcement: <a href="http://investors.californiacoastalcommunities.com/releasedetail.cfm?ReleaseID=419305">http://investors.californiacoastalcommunities.com/releasedetail.cfm?ReleaseID=419305</a>



Excerpt:



IRVINE, Calif., Oct 28, 2009 /PRNewswire-FirstCall via COMTEX News Network/ -- California Coastal Communities, Inc. (Nasdaq: CALC) announced today that the Company and certain of its subsidiaries have filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code in order to extend the maturity dates of approximately $182 million of indebtedness related to the Company's Brightwater development project and to modify and eliminate certain debt covenants. The petitions were filed on October 27, 2009 in the U.S. Bankruptcy Court in the Central District of California.
 
[quote author="graphrix" date=1254553831]And for those who worked for Cal Coastal and came on here acting like jerks and changing your screen names... I told you so!</blockquote>


Next on the list, Robert Larsen ESQ.
 
[quote author="HGraygoose" date=1219719031]I have been reading this blog intermittingly and I am a major investor in CALC working at Dimensional Fund Advisors. I am quite disappointed that the stock price is at all time 52 week low today. I firmly believe that these homes are a good product, yet sales need to increase now. Sales are a function of the experience and tact of the sales team and from everything that I have read, it seems that this sales team is anything but less than average. I am located in Chicago and haven't actually seen the homes. Have any of you seen a new sales force or is it the same team that was hired at the opening of the project? I would be interested in seeing a "changing of the guard" so to say. From the sales team to the Sales Manager. It doesn't seem they have good attitudes to be working with potential buyers. Maybe some fresh faces and more experienced sales agents are what is needed to revitalize project and drive sales. I would at this point, give CALC a SELL rating.</blockquote>


Dude, I hope you guys got clear before this train went over the well marked cliff.



<a href="http://huntingtonhomes.freedomblogging.com/2009/11/04/67667/67667/">CALC delisted</a>
 
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