–  Mountainside by Northcliff Development in Somersett – Recorder’s Docs 3990411 and 3994013 for NODs.  Both on missed payments from 30 June 2008.

–  The Pinnacle in Sparks by Altmann Ott – Recorder’s Docs 3991659 and 3991662 for NOSs for close to $7M.  first NOD was in May 2009.

–  Rancho San Rafael III – Docs 3990889, 3990890 and 3990893 for NOSs of about  $8M.  Missed May 2009 payments.

–  Villagio Della Mongtana by TNT Limited – Docs 3987601, 3987607, 3987609, 3987615 and 3987618 for NOSs totalling nearly $15M.  It looks like payments stopped in September 2009.  The officers of TNT are Troy and Travis Means, who own Homecrafters, though this is not officially a Homecrafters owned project.  You can track the sales on this project on Zillow by tracking the housed on Vista Occhio.

These are local or regional players.  On one hand, it is good to see the lenders moving forward on the defaults – it might give the projects a chance of being completed under new ownership.  On the dark side, if you own in these developments, you will be knee-capped on your property values.

Advertisements