simpson1

Recent Comments

  1. 1
    Posted 2009-09-28 09:28:04 on KeyBank Thrown Into Golf Community Brawl

    I am one of over 2000 residents who live in Bonita Bay who are NOT members of the Golf & County Club which are at the heart of all the hub-bub this past year. We don't have a dog in this race directly... however, since the Club is the economic engine that drives the community and the value of the homes contained herein... we have much more than a passing interest in the fight itself. I bought in BB 12 years ago and stroked a check for $225K for my very comfortable condo. I've seen the value of that investment go up as high as $750K and down to its present value of approx. $450K. My wife and I are not golfers but are surrounded by same. Bonita Bay is and has always been run like a prep boarding school. When you arrive, you're told what to pay, where to go and how to do it. If you don't follow the rules you're dismissed. Most fall in line because they like what they see and property values tripled in most neighborhoods. What's not to like? Then the house of cards started to collapse in '06 with the real estate bust and it's been all downhill since. The place still looks great but people are not happy because 1) Uncertainty and 2) Property value decline. What do we... the NON-MEMBERS... want? We want to see BBG bite the dust in a blazing fire ball on the steps of the Federal Courthouse in Ft. Myers followed by a fire sale to the homeowners of the BBG assets at 10 cents on the dollar. It can and in all likelyhood will happen. The question is... when will all of our overly rich neighbors (Club members) come to reality and decide enough is enough. They haven't yet! They are still fearful that BBG will close the facilities and they'll be forced to go outside the gates (God forbid) for their daily and evening entertainment. They still show signs of having more dollars than sense! BBG and the Lucas Clan are a bottomless pit in which to throw money. As long as the members fork over seven figures every thirty days... the BBG will be there to collect it. The BBG mentality is simple. This will all blow over and all will be forgiven. After all... it's always been that way. Why should it change now? However, "Denial is not a river in Egypt!" As I stated.. we're sitting on the sidelines watching and waiting for the big boys to finish their fight so we can come in and pick up the pieces. In this match, it's a lot more fun to be a spectator than a participant.