SPECIAL REPORT: Winchester Country Club tries to pull itself out of foreclosure
Written by John McCreadie
The
Winchester Country Club may end up in a foreclosure sale if the company is
unable to reach an agreement to salvage the unsold lots, clubhouse and golf
course. Photo by John McCreadie.
If a deal is not reached, the bank will hold a foreclosure sale on more than a third (137 unsold lots) of the 409 lots in the Winchester development, it’s massive 35,000-square-foot country club, and its pristine 18-hole private-member golf course.
In preparation for a possible sale, Winchester Country Club employees confirmed bottles of wine and other items in its gift shop have been discounted in an effort to move the merchandise before the scheduled foreclosure sale. Still, they hope Myers will “pull a rabbit out of his hat” and avoid the foreclosure process altogether.
Working against Myers, however, is an extremely tight credit market. Many banks, recently stung by record home foreclosures as sales and prices across the nation have fallen sharply, are taking a hard-line stance on loan defaults.
For Winchester Country Club members, the possibility of a foreclosure sale has created lots of uncertainty. Late last year, they elected a seven-member advisory committee to help protect their interests. The committee reported during an April 15 community meeting that while management discussions to avert foreclosure continue, a foreclosure sale is likely. For club members and some residents, however, Winchester’s financial problems may only be a short-term issue.
“We’re very bullish on where we are going to end up as a community long term,” said Mark Evans, an advisory committee member, club member and resident. “Despite the near-term uncertainties, I believe we’re going to come out of this just fine.”
While the soft housing market in Placer County and throughout the nation is at the root of Myers’ financial woes at Winchester, there is speculation he failed to lower lot prices and club membership fees, which run up to $80,000 a year for non-residents, as the market softened.
Placer County District Attorney Brad R. Fenocchio, left, and former Rep. Doug Ose turned nearly 22,000 signatures over to the Placer County Clerk-Recorder-Elections office in Auburn on Monday. Photo by Don Chaddock.
Nearly 22,000 signatures were turned in Monday to the county Clerk-Recorder’s office in Auburn as part of a campaign to get a comprehensive crime victims’ bill of rights on the November ballot.
Placer County District Attorney Brad Fenocchio and former Rep. Doug Ose were on hand to turn the boxes of signatures over as part of a statewide effort to get the measure, known as “Marsy’s Law: Crime Victims’ Bill of Rights Act of 2008,” before the voters.
More than 1.2 million signatures were submitted statewide, according to local Marsy’s Law campaign director Mitch Zak.
Marsy’s Law would give a voice to the victim or family of the victim, the same rights defendants currently enjoy, according to Ose.
“This is a great step forward for protecting the rights of victims and families,” Ose said. “This is one of the most serious things a public official must face, providing an adequate level of public safety.”
The measure seeks to provide for the safety of victims and their families as well as keep them informed during the entire process from arrest to parole.
“This law would keep victims and their families informed and present at all stages during the justice process,” Fenocchio said.
Advice for the Politically Forlorn
These are tough times we’re facing and the “people” want answers. The people want to know how we managed to get into this mess, and more importantly, the people want to know who is going to lead us back to prosperity. And no one is under more pressure than both our elected and appointed government officials. Everyone from the president of these United States to the mayor of Auburn is feeling the heat.
It’s lonely at the top, especially when the economy stinks, so as a public service and because I really do care, I’m launching this new column—The Savage Spinmeister—which will appear occasionally in place of The Other Side of Auburn. In it, I will present “Advice for the Politically Forlorn,” and serve as a sounding board and life coach/counselor for politicians who are struggling to find the “answer” for demanding constituents.
No one knows Auburn and the surrounding area better than the people who live here. Yahoo doesn't know Auburn, Google doesn't know Auburn, YOU know Auburn! That's exactly why we built this website.
The AuburnBuzz was built to give you a voice in the community and allow you to participate, contribute, and share what you know. Here's what members can do at the AuburnBuzz today:
Social Networking - create your own profile, network, make friends and business connections
Blogs- each user has the ability to create their own blog (online journal)
Video Sharing - share your favorite videos from YouTube, Google Video, iFilm, Veoh, etc.
Anyone can browse and have access to all of the information here. Members get to participate and contribute. Did we mention this is free? Membership is open to anyone and everyone age 16 and above. If you are under the age of 16, you will need written permission from your parent or guardian to become a member.
