Prominent real estate firm files bank...

Prominent real estate firm files bankruptcy

There are 73 comments on the Asheville Citizen-Times story from Jan 7, 2009, titled Prominent real estate firm files bankruptcy. In it, Asheville Citizen-Times reports that:

One of the area's largest real estate brokerages and a related development company have filed Chapter 11 bankruptcy.

Join the discussion below, or Read more at Asheville Citizen-Times.

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girlie homie

Asheville, NC

#61 Jan 10, 2009
Carolina wrote:
I noticed Coldwell Banker Kasey closed their main downtown office on Charlotte Street.
The downtown office for Coldwell Banker is still there. They sold the building on Charlotte Street and are now in a new building directly behind it. Looks like a big house.
Big House

Maxton, NC

#62 Jan 10, 2009
girlie homie wrote:
<quoted text>The downtown office for Coldwell Banker is still there. They sold the building on Charlotte Street and are now in a new building directly behind it. Looks like a big house.
Are the Kasey's of Coldwell Banker going to the Big House?

Since: Nov 08

The Mountains of WNC

#63 Jan 10, 2009
Platinum wrote:
<quoted text>
Maybe as a life-long resident of this community, I have the ability to separate FACT from FICTION. Maybe I have had personal dealings with these folk myself. I think the brutal comments here have no place. Opinion is one thing--slander and outright cruelty is another!
Not sure what you're driving at with the 'hmmmm'. Attempts at being clever? Oh it's so working!
Everyone is struggling. The economy is horrible. Cut all these people some slack! You guys are treating them like ENRON.
What restaurant? I have heard nothing about a restaurant! As a matter of fact, this real estate nonsense is the ONLY thing I've seen reported on WLOS or in the ACT
Jan. 7 edition, same edition this article is in. Not as well read as you thought?? Look it up, Genius.
oh please

Maxton, NC

#64 Jan 11, 2009
Carolina wrote:
From what I know about brokers who have worked at Coldwell Banker Kasey as recently as 2008, they are leaving the sinking ship like crazy. Many of the agency's top sellers have fled to other, more stable, agencies. And they are losing many listings too, not only because top agents are leaving with their listings, but also because sellers see the risks involved in listing with an agency that is bankrupt and can't afford to pay to advertise their property
Frankly, I don't see how CBK is going to stay afloat for the long term, even if they reorganize under Chapter 11. That's like shifting deck chairs on the Titanic. They'll need a lot more than that.
The past 6 or 7 years have been the best ever for construction or real estate. The kaseys could'nt even pay their bills on time when things were booming. There's alot of $ hidden somewhere?
Are they just incompetent business people?
Are they deceitful crooks?
Maybe. Most likely. Yes.
They will probably resurface later in some sort of other business, without ever paying anyone the money that they owe.
That is when things will truly get ugly for the
kasey brothers.
local

Hickory, NC

#65 Jan 11, 2009
oh please wrote:
<quoted text>
The past 6 or 7 years have been the best ever for construction or real estate. The kaseys could'nt even pay their bills on time when things were booming. There's alot of $ hidden somewhere?
Are they just incompetent business people?
Are they deceitful crooks?
Maybe. Most likely. Yes.
They will probably resurface later in some sort of other business, without ever paying anyone the money that they owe.
That is when things will truly get ugly for the
kasey brothers.
TIn many cases they have ALREADY been "scraping the bottom of the barrel". Wonder who they will find to work for them/do business with them/date them after their 'restructuring'?
Hendersonville

Dillon, SC

#66 Jan 11, 2009
Here in Hendersonville, Coldwell Banker Kasey has lost all their top-selling agents (and entire teams of agents) and those agents are now revving up at their new agencies. They really have abandoned the sinking ship! No way CBK can compete in the market from this point forward.

Since: Oct 08

Asheville

#67 Jan 11, 2009
girlie homie wrote:
<quoted text>The downtown office for Coldwell Banker is still there. They sold the building on Charlotte Street and are now in a new building directly behind it. Looks like a big house.
That place is huge! Are they still going to occupy that building?
Business is Business

Maxton, NC

#68 Jan 11, 2009
Hendersonville wrote:
Here in Hendersonville, Coldwell Banker Kasey has lost all their top-selling agents (and entire teams of agents) and those agents are now revving up at their new agencies. They really have abandoned the sinking ship! No way CBK can compete in the market from this point forward.
Glad the agents have relocated to better places. The Kaseys are losing everything.
Hendersonville

Dillon, SC

#69 Jan 11, 2009
BlueMoon2Go wrote:
<quoted text>
That place is huge! Are they still going to occupy that building?
The office in Hendersonville is rather large too and its now like a ghost town ...
Hendersonville

Dillon, SC

#70 Jan 11, 2009
Business is Business wrote:
<quoted text>
Glad the agents have relocated to better places. The Kaseys are losing everything.
Guess they've got to be better -- they're all far more stable! The CBK agents didn't all go to the same new agency either. They went different directions. Looks like anything is better than sticking with CBK at this point. So, right now, I just can't foresee how they're going to get from Chapter 11 back into a place where they're competitive in the market. It takes experienced and reputable brokers to do that for them, and they've lost the best.
rock hound 23

Eddyville, KY

#71 Jan 11, 2009
BlueMoon2Go wrote:
<quoted text>
That place is huge! Are they still going to occupy that building?
David Gant to the rescue. Watch David pay 3x current market value for that building and other failed developments. Bailout for developers under the pretext of more space for government bureaucrats, would put a heavy property tax burden on the little elderly ladies and gentlemen of Bucombe county.

Maybe Gant is setting us up for the benefit Kasey, Coleman, Rusty Pulliam other other developers in need of a handout?
night owl

Leicester, NC

#72 Jan 11, 2009
rock hound 23 wrote:
<quoted text>
David Gant to the rescue. Watch David pay 3x current market value for that building and other failed developments. Bailout for developers under the pretext of more space for government bureaucrats, would put a heavy property tax burden on the little elderly ladies and gentlemen of Bucombe county.
Maybe Gant is setting us up for the benefit Kasey, Coleman, Rusty Pulliam other other developers in need of a handout?
Wlos mentioned tonight something about the city of Avl looking into turning Biltmore Square Mall into office space!!! I find that absolutely hilarious in light of all of the empty office buildings/spaces around town being vacant! I'm assuming that we taxpayers would have to foot that rediculous fee as well. I don't even know what the selling price is but the mere mention is hysterical.
Margo

Concord, NC

#73 Feb 9, 2009
I grew up with the Kasey's and attended high school with them. They worked for everything they both have achieved. People are putting them on the chopping block because of what they have become which is entirely unnecessary.Don't judge a book by it's cover!!!!!!

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