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Old 07-17-2008, 03:29 PM
 
Location: Falling Waters, WV
1,500 posts, read 4,851,690 times
Reputation: 742
The Roaring River Website is no longer there. I would say as long as you have a deed to your property you will be okay. Usually if a developer is having a problem another developer will take over eventually. I wouldn't panick as long as you own your property.
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Old 07-21-2008, 03:50 PM
 
9 posts, read 26,168 times
Reputation: 14
I got through to Land Resource today. The person there confirmed what I had seen posted online. LR management is meeting with their lenders in 2-3 weeks, then will develop their strategy. They will communicate with the lot owners after that - roughly 30 days from now.
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Old 07-28-2008, 06:39 PM
 
3 posts, read 8,574 times
Reputation: 10
We purchased a lot last year and are very concerned with the current situation. An article was published in the local paper (The Fayette Tribune) which has some information on Land Resources and the status of the development. I have also spoken with a local resident/lot owner who has emailed the President of LRC and received timely but vague responses. I plan to contact the HOA manager to find out why we have not been notified personally and had to find out through reading the local newspaper. I will see if we can get a list of contacts of current lot owners so we can build a community of interest to ensure we get the answers we deserve.....more to come

PS - you can read the article online www.fayettetribune.com
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Old 08-07-2008, 03:58 AM
 
19 posts, read 101,812 times
Reputation: 23
Default Roaring River and the Interstate Land Sales Full Disclosure Act

Mike Flaskey, C.E.O. of Orlando-based Land Resource, L.L.C. told The Charleston Gazette on July 16, 2008 that the company was shutting down their Roaring River sales office. Mr. Flaskey cited economic constraints and stated that the company would not refund any money to the people who had bought lots. Please see Susan Williams’s article “Gorge Housing Project on Hold”

The Roaring River mountain slope development is located along the New River Gorge and the company had envisioned building 2,000 homes on the 4,300 acre site. According to Mr. Flaskey the company has sold 100 to 150 lots.

The Roaring River project is located in an area known for landslides and unstable soils. In July 2001 a major landslide occurred along a 600-foot section of Cunard River Access Road on the New River Gorge National River. This area was also impacted by landslide events in 2003.

West Virginia Mountain Land is Hazardous

The following information was taken from Community Alert online:
Because of the mountainous nature of West Virginia, landslides are a common hazard. A Geological and Economic Survey study estimated that there are nearly 500,000 landslides each year in the state, and damage estimates are about $30 million annually (Lessing, 1996). West Virginia accounts for 13 percent of U.S. landslide damage and is ranked one of the top two states in highest landslide damage per capita values at $100-$300/person/year (Kite, 2003).

According to the United States Geologic Survey, practically all of West Virginia resides in a zone of high incidence of landslides. As such, landslides pose a significant threat to the lives and property of West Virginia's residents.
Roaring River and the Interstate Land Sales Full Disclosure Act

Roaring River, HUD Subdivision Id: 31655, lot sales are covered under the Interstate Land Sales Full Disclosure Act and all purchasers must receive a detailed Property Report prior to signing a contract. The Property Report must include known land risks such has flooding, landslides and unstable soils. If Land Resource, L.L.C. neglected to provide Property Reports as required by ILSA, purchasers have two years to seek rescission of their purchase contracts and three years to seek damages. For additional information concerning consumer rights and protections please contact the United States Department of Housing and Urban Development.
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Old 08-10-2008, 09:53 PM
 
6 posts, read 13,385 times
Reputation: 11
fellow RR land owner here. i just read my property report. accordingly, inclement and weather are the only known hazards. no word of mudslides is mentioned. guess it's time to call the lawyer. is anyone aware of a class action already initiated?

Last edited by sean_RR_lot_owner; 08-10-2008 at 10:07 PM..
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Old 08-12-2008, 08:25 AM
 
9 posts, read 26,168 times
Reputation: 14
Default RR Class Action

I don't know of any action being taken. I have been searching and reading all of the articles I can find about LR's situation. If I remember correctly, one of them mentioned that 86 lots had been sold at Roaring River. So, it would be a small class, but I guess still a class.

Land Resource has told me that they are working with their lender on a plan for moving forward. They said they should have resolution & will communicate with their property owners around the end of August. I am sitting tight until I hear what they come up with. But I'm not ruling out legal action going forward!
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Old 08-14-2008, 12:04 PM
 
Location: Hurricane, WV
17 posts, read 42,750 times
Reputation: 11
Red face Roaring River Homesite owner listing

I asked Mike Flaskey for a contact listing of all RR Homeowners. No response. I dont think they want us to know about each other. Thought we could get together by conference call or F-t-F meeting to feel like we are doing something to help ourselves or at least vent with people who feel the same. We found out about the office closing when Grant Dragan left a message saying he had been let go. We are in a tailspin and all of our retirement plans for building next year have been blown out of the water. I dont know about you guys but we dont have mo money to start in another direction but also we are very Turned off to the whole RR thing and if we can regroup and recoup some of our funds we are out of here!
I really feel deceived and "flimflammed!!!" Especially since we had just closed in May, under extreme pressure from land resource to hurry so we could get this big all expense vacation, which I am sure they knew would never happen either. Anywhoo, lets start the discussion on getting together a contact listing and do something. I say we all buy tear drop campers, (which is all we could afford now), drag 'em up to RR properties, call NBC, ABC and CBS in Fayette County and have a big camp in! I also think we should invite Grant and Eric, whom I feel strongly didnt know they were getting fired until they got fired!
Remember what Patrick Henry said, We must all hang together or most assuredly, we will all hang separately.
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Old 08-14-2008, 12:09 PM
 
Location: Hurricane, WV
17 posts, read 42,750 times
Reputation: 11
Quote:
Originally Posted by sean_RR_lot_owner View Post
fellow RR land owner here. i just read my property report. accordingly, inclement and weather are the only known hazards. no word of mudslides is mentioned. guess it's time to call the lawyer. is anyone aware of a class action already initiated?
Sean, I dont think the lawsuit has been initiated. I wonder if anyone in Fayetteville would take it on for free. We are broke. Should have gone with Wyboo Plantation property on Lake Marion, SC.
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Old 08-14-2008, 12:14 PM
 
Location: Hurricane, WV
17 posts, read 42,750 times
Reputation: 11
Quote:
Originally Posted by shinyguy View Post
I don't know of any action being taken. I have been searching and reading all of the articles I can find about LR's situation. If I remember correctly, one of them mentioned that 86 lots had been sold at Roaring River. So, it would be a small class, but I guess still a class.

Land Resource has told me that they are working with their lender on a plan for moving forward. They said they should have resolution & will communicate with their property owners around the end of August. I am sitting tight until I hear what they come up with. But I'm not ruling out legal action going forward!
Hi Shinyguy. Mike F told me they were definitely selling phase 2 & 3. Boyscouts have looked at it, but I also read recently a land preservation company was really after it. so that leaves us all in phase 1, about 80+ lots. He told me the bank may not give them more $ to proceed and that more than likely phase 1 would be sold to another developer. But no developer is even looking at it now. In other words dont hold our breath because nothing will happen for at least a few years. In the meantime, keep making payments. Wonder if we tie down the tear drop camper-will that be a permanent 2nd home for tax write off???
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Old 08-14-2008, 12:19 PM
 
Location: Hurricane, WV
17 posts, read 42,750 times
Reputation: 11
Quote:
Originally Posted by mbcameron View Post
We purchased a lot last year and are very concerned with the current situation. An article was published in the local paper (The Fayette Tribune) which has some information on Land Resources and the status of the development. I have also spoken with a local resident/lot owner who has emailed the President of LRC and received timely but vague responses. I plan to contact the HOA manager to find out why we have not been notified personally and had to find out through reading the local newspaper. I will see if we can get a list of contacts of current lot owners so we can build a community of interest to ensure we get the answers we deserve.....more to come

PS - you can read the article online www.fayettetribune.com
I hope you can get through to the HOA guy, because I could not. I am looking for the contact listing of all property owners in Phase 1 RR. If you do reach that guy, let him know we have no intention of paying the monthly HOA dues. Thanks
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