Ginn Laurelmor Development

Ginn Laurelmor Development

Posted in the Lenoir Forum

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Wondering in Darby

AOL

#1 Mar 14, 2008
What is the latest on Ginn Laurelmor? I have heard many different rumors.
Lynne Vogel

United States

#2 Mar 28, 2008
Is it safe to build in Laurelmor?

This Ginn Resort Property, a 6,000 plus acre mountain residential/resort community, was approved in 2006 before its location could be mapped for landslide hazards. The Western North Carolina mapping program was mandated after the region was declared a federal landslide disaster area in September 2004.

In 2006 the North Carolina Geological Survey identified Watauga County, the primary location of Laurelmor, to be at extreme risk for future landslides. The landslide probability maps show that 20% of the county is rated high hazard and 41% of the land lies in the track of previous debris flows.

Considering the evidence, Laurelmor building sites should have been inventoried for landslides and other slope instability factors before the applicant received his permit. But since North Carolina has no regulations governing the development of hazardous land, this project was approved.

The Laurelmor web-site shows a site plan but it does not disclose the resort's location on the Watauga County landslide maps. Finalized hazard maps were released in January 2008.

Laurelmor/Ginn provides a list of featured home builders for their clients. These individuals are not qualified to assess the safety and stability of building sites. Anyone buying Laurelmor mountain slope property should visit the North Carolina Geological Survey and take a serious look at the Watauga County landslide maps. North Carolina geologists warn that all slope property should be investigated for landslide probability. The costs for a professional site specific study are reasonable, generally less than $2,000. Caveat: Slope stability tests should only be performed by independent state licensed geologists and engineers.

Laurelmor investors should note that they will be self-insuring for all earth movement property loss. Homeowner policies will not cover landslide damage, regardless of the cause.
Never say Never

Banner Elk, NC

#3 Mar 28, 2008
Is it safe to build anywhere? If its flat it can flood, or a truck could drive into your home. If its on an angle it could slide off or just simply roll like a log. Either place could be hit by a falling meteor or errant spacecraft. It could sink into the ground and never be seen again. If you want certainty buy into death and taxes.
Lynne Vogel

United States

#4 Apr 17, 2008
Laurelmor and The Ginn Company Lawsuit

Laurelmor, a Ginn Resort Property, is one of the largest mountain slope communities ever planned for Western North Carolina. Laurelmor, is located in the Blue Ridge Mountains and land for the project encompasses 6000 plus acres in Watauga and Wilkes Counties. The Ginn Company advertises 1500 home sites for sale in the resort.

History of the Ginn Company Lawsuit

A class action lawsuit was filed against The Ginn Company on May 29, 2007. This nine-count lawsuit was filed in U.S. District Court in Michigan. The $60 million Federal lawsuit has been moved to the Middle District of Florida in Jacksonville. The following article from LawyersandSettlements.com provides a summary of the legal complaints:

A class action lawsuit has been filed against the real estate venture for allegedly misleading and defrauding consumers in property purchases. The lawsuit was filed in the United States District Court for the Eastern District of Michigan on behalf of all those who purchased land an homes from The Ginn Company and alleges the company has breached agreements and violated several laws, including the Interstate Land Sales Full Disclosure Act and the Securities and Exchange Act of 1934. The suit claims Ginn solicited plaintiffs to purchase vacant residential lots in Florida by sending brochures and marketing materials advertising the lots. Purchasers were allegedly promised large returns for their investment and claim initial purchasers were actually paid the promised returns which attracted additional purchasers. The lawsuit alleges Ginn created a complicated web of companies to be used in marketing, soliciting, and promoting properties to potential purchasers in order to avoid scrutiny of US regulators. The case also claims Ginn perpetuated a ponzi scheme where returns to investors were not financed through the success of the underlying business venture, but were taken from principle sums of newly attracted purchasers. In all, the suit is alleging nine counts, namely violation of Interstate Land Sales Act failure to provide property report; violation of the interstate Land Sales Act Fraud and Deceit upon purchasers; violation of securities and exchange rules registration, reporting and disclosure requirement; false representation under Securities Exchange Act of 1934; "Ponzi Scheme" and violation of section 10(b) of the Securities and Exchange Act; violation of State Securities laws; fraudulent misrepresentation; innocent representation; and violation of Racketeer Influenced and Corrupt Organizations Act.
For additional information please see the following articles:

“The Ginn Co.’s federal suit moves to Fla.” Orlando Business Journal March 14, 2008
“Ginn fights lawsuits and other woes” Orlando Sentinel.com October 5, 2007

Will this lawsuit affect the financial well being of The Ginn Company and their plans for Laurelmor? Should this lawsuit be disclosed to current and future Laurelmor investors?

For additional information please visit ginnlawsuit.com
Realtor

Orlando, FL

#5 Apr 21, 2008
Did Ginn disclose the fact that it might not be possible to build on the Land prior to people buying, if not he is in a lot of trouble. I wouldn't advise anyone to buy a resale lot from Ginn in any of his Communities unless you intend to hold it for many years.
I would also advise anyone who owns a lot in a Ginn Community not to let Ginn sell it because you will be disappointed, he tells his salesmen to sell inventory lots 1st and gives them 5% commission and 1% commission on a resale lot, so guess which one will sell first.

Since: Jun 07

Lenoir, NC

#6 Apr 22, 2008
Wondering in Darby wrote:
What is the latest on Ginn Laurelmor? I have heard many different rumors.
Has any of this been in the local news topics? I haven't seen anything on this and I would think that the landslide issue would be of news to locals?
Plane2C

Fort Lauderdale, FL

#7 Apr 23, 2008
What about that HUGE impressive-looking stone wall wall they had that just fell? They are not even rebuilding it! This is JUST what this is about, these guys are selling a piece of "Little California" to people long before the earth they have pushed up even settles its going to swallow up who knows HOW many of the Huge Estates built on unsafe ground. My place settled for a couple of YEARS after I had a local dozer driver clear it in the same exact area. Looks like a big problem for Ginn...
Worker

Charlotte, NC

#8 May 4, 2008
Actually. they are rebuilding the stone wall. People should get facts straight before they post blogs!!
Time for some Gin

AOL

#9 May 4, 2008
Where is this stone wall?
With the real estate slowdown, the lawsuit, and the land slide study all hitting at the same time, it might be bottom's up time for Ginn.
Truly a pity as Ginn had set aside several thousand acres as an eco-buffer. Since the roads are already in place, someone WILL develop the mountain. The next one may not be as ecologically responsible as Ginn.
Looks like the mountain people will get what they deserve.

Since: Jun 07

Lenoir, NC

#10 May 5, 2008
Time for some Gin wrote:
Where is this stone wall?
With the real estate slowdown, the lawsuit, and the land slide study all hitting at the same time, it might be bottom's up time for Ginn.
Truly a pity as Ginn had set aside several thousand acres as an eco-buffer. Since the roads are already in place, someone WILL develop the mountain. The next one may not be as ecologically responsible as Ginn.
Looks like the mountain people will get what they deserve.
And the mountain people deserve what? Jobs coming to the area? Surely you weren't being mean and spiteful or prejudice?
Time for some Gin

AOL

#11 May 7, 2008
Mountain people for the most part (the VAST part) are extremely territorial, hostile, and uneducated. They fight anything or anyone which changes their status quo. This backwood's mentality is one of the reasons Wilkes County led NC in Moonshine production decades ago, Pot production years ago, and now leads in Meth labs. Ginn was going to provide good jobs while at the same time keeping an environmentally conscious development plan in place.
Hopefully, the Mountain People will get a 6,000 acre trailer park so they will feel right at home.
bill

United States

#12 May 7, 2008
sometimes we are territorial and hostile, we grow tired of watching the flatlanders come here and trash our mountains...youve got no respect for our land, our people...no respect for anything but the almighty $$$
Bobthebuilder

AOL

#13 May 8, 2008
Worker wrote:
Actually. they are rebuilding the stone wall. People should get facts straight before they post blogs!!
How are they reinforcing that wall? Is there more info about that? That alone must have been quite a task.

Since: Jun 07

Lenoir, NC

#14 May 8, 2008
bill wrote:
sometimes we are territorial and hostile, we grow tired of watching the flatlanders come here and trash our mountains...youve got no respect for our land, our people...no respect for anything but the almighty $$$
You hit the nail right on the head!!

Since: Jun 07

Lenoir, NC

#15 May 8, 2008
Time for some Gin wrote:
Mountain people for the most part (the VAST part) are extremely territorial, hostile, and uneducated. They fight anything or anyone which changes their status quo. This backwood's mentality is one of the reasons Wilkes County led NC in Moonshine production decades ago, Pot production years ago, and now leads in Meth labs. Ginn was going to provide good jobs while at the same time keeping an environmentally conscious development plan in place.
Hopefully, the Mountain People will get a 6,000 acre trailer park so they will feel right at home.
You must be one ignorant, prejudiced individual and I can speak for Wilkes and Caldwell Counties when I say this...we don't want your type here at all!! Enviromentally conscious development?? What were they conscious of?? The fact that the vast (since you like that word) majority of the land was located in hazardous landslide area? Now who is ignorant and deceiving?????
Time for some Gin

AOL

#16 May 10, 2008
As usual, the uninformed, and truly uneducated, LL knows nothing except how to repeat what she reads. The majority of the area where the houses are being built is NOT, I repeat NOT, in the landslide area.
This is called sensational journalism. Let me explain it to you. It is when some journalist decides to take a statistic and apply it across the board to a subject without regard for the truth.
Are there areas of Ginn in the landslide zone? Of course there are. Are the majority of the homes being built in this area? No! That is a fabrication of the intellectual giant, LL.
Please come back on board when you know of what you speak. Remember LL, if you state a lie regarding Ginn, they have the right to recover damages from that lie in court.

Headlines of the LNT, "Lenoir Lady Loses 250 Million Dollar Lawsuit. Her Trailer is Repossessed as Part of the Judgment."

Since: Jun 07

Lenoir, NC

#17 May 11, 2008
Time for some Gin wrote:
As usual, the uninformed, and truly uneducated, LL knows nothing except how to repeat what she reads. The majority of the area where the houses are being built is NOT, I repeat NOT, in the landslide area.
This is called sensational journalism. Let me explain it to you. It is when some journalist decides to take a statistic and apply it across the board to a subject without regard for the truth.
Are there areas of Ginn in the landslide zone? Of course there are. Are the majority of the homes being built in this area? No! That is a fabrication of the intellectual giant, LL.
Please come back on board when you know of what you speak. Remember LL, if you state a lie regarding Ginn, they have the right to recover damages from that lie in court.
Headlines of the LNT, "Lenoir Lady Loses 250 Million Dollar Lawsuit. Her Trailer is Repossessed as Part of the Judgment."
Big Words from such a small person!! LOL
Time for some Gin

AOL

#18 May 11, 2008
lenoir lady wrote:
<quoted text>
Big Words from such a small person!! LOL
and small words from such a BIG person!!!
ROFLMAO
Realtor

Orlando, FL

#19 May 11, 2008
Time for some Gin wrote:
<quoted text>
and small words from such a BIG person!!!
ROFLMAO
You sound like a typical Ginn Salesman all talk, Ginn haven't the money to sue anyone, he has just been hit with 2 more Law Suits and lots more on the way, Ginn will not exist in a very short time, when did he last finish a Development, when will he ever finish the Amenities he promises in his glossy brochures, filled with promises that he never fulfills. All of Ginn's Communities are in the same state, full of Foreclosures and unhappy owners who just want to escape the Ginn greed, once you own in a Ginn Community you are trapped, you cannot sell as all of the Properties/Lots are worth a fraction of what people paid for it. Banks will not make loans in a Ginn Community unless it is someone who is making a huge down payment and have huge reserves, the Banks will own most Ginn Communities through Foreclosures before too long. Law Suits will keep coming and the Authorities will soon be investigating, it is just a matter of time.
It is sad that Ginn now has his minions posting on all blogs trying to make him look better, but everyone can see through this we have been taken in once but not again.

Since: Jun 07

Lenoir, NC

#20 May 11, 2008
Time for some Gin wrote:
<quoted text>
and small words from such a BIG person!!!
ROFLMAO
Hate to pop your bubble small one but I am not a big in size person....try again...sticks and stones may break my bones but words...make me laugh!! Yessirree us here hillbillies have to have a past time since we are such hicks...

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