• psst … I’m a Realtor! Thanks for stopping by my website. I would love to help you find your dream home and community in the Hampton Roads or Williamsburg area or to sell your existing home. This website is authored by local resident and REALTOR, John Womeldorf. John is known around town as Mr. Williamsburg, for both his extensive knowledge of Hampton Roads and the historic triangle, and his expertise in the local real estate market. His websites, WilliamsburgsRealEstate.com and Mr Williamsburg.com were created as a resource for folks who are exploring a move to Williamsburg, VA , Hampton Roads VA and the surrounding areas of the Virginia Peninsula. On his website you can search homes for sale , foreclosures, 55+ active adult communities, condos and town homes , land and commercial property for sale in Williamsburg, Yorktown, New Kent, Poquoson, and Gloucester, VA as well as surrounding markets of Carrolton, Chesapeake,Gloucester, Hampton, Isle of Wight, Portsmouth Mathews, Newport News Norfolk, Poquoson, Smithfield, , Suffolk, Surry, Va Beach, Yorktown and York County Virginia You can reach John by email John@MrWilliamsburg.com or phone @ 757-254-813

Carters Grove Owner buys his own Charlottesville farm at Foreclosure

CNET cofounder and Carters Grove Owner, Halsey Minor’s $3.9 million, 200-acre Charlottesville area farm went to foreclosure auction . Can you guess who the auction’s top bidder was…

CNET cofounder Halsey Minor.

 According to The Hook, Halsey bought control of his foreclosed loan back for more than he owed.

 

Halsey still owes $7 million on the property, thanks to another couple mortgages he took out on it. But the bottom line is: Halsey has his farm back

As the highest bidder at his own foreclosure auction, , Minor had to put down $75,000 of the $1.39 million he bid to settle a loan secured against the property earlier this year and avoid loosing his farm. The loan came from a limited liability company fronted by Virginia National Bank founding president Mark Giles, who attended the auction and made several bids himself, driving up the $1.1 million opening bid.

According to the trustees, the balance of the payoff amount to Giles, including fees, unpaid real estate taxes, and a five percent cut to Lenhart Obenshain, is $1.155 million, which means Minor ended up paying $235,000 more—roughly 22 percent–than he originally owed on the second loan. However, that’s not as bad as it sounds because any payment Minor makes over what’s owed to Giles and company goes to the owner of the property–Minor himself. So, in reality, Minor actually paid around $115,000 more than he owed.

Minor has alleged that the foreclosure was part of a game being played by Giles and his “friend and golfing buddy” Lee Danielson, the developer of Minor’s stalled Charlottesville Landmark hotel project, whom Minor has re-filed a lawsuit against. But that’s a rationale Danielson has called preposterous.

It’s been hard not to watch Halsey Minor with some fascination. Minor was phenomenally successful at a young age. CNet went public just four years after its 1992 founding, netting him around $100 million by the time he left the company in 2000 at age 35; as an early investor in Salesforce, Minor made roughly $300 million more several years later.

After years of lavish spending — including laying out nearly $100 million on several princely properties in San Francisco, Los Angeles, and the December 2007 purchase of Carter’s Grove Plantation, an historic 400 acre estate that sits on the James River outside of colonial Williamsburg, VA . Minor also started  buying up multimillion-dollar racehorses; and outfitting his homes and offices with works by some of the world’s most famous artists.
Minor is the owner of the unfinished Landmark Hotel, a 101-room Downtown Mall luxury hotel now mired in liens and litigation. Slated to cost him $30 million and to open in downtown Charlottesville, Va., last July, the unfinished hotel is instead mired in liens and lawsuits.

Minor has shown he still has a penchant for identifying trends and talent. At Minor Ventures in San Francisco, a self-funded investment firm that Minor launched several years ago, a number of the half dozen or so startups that Minor seed-funded have been enjoying successful trajectories. GrandCentral was one of the first companies in Minor Ventures’ stable; it sold to Google for $50 million in 2007. Last July, Sequoia Capital and Greylock Partners pounced on another Minor-backed startup, OpenDNS, providing the startup with an undisclosed amount of second-round funding, according to TechCrunch. (At the time, TC characterized the transaction as “one of the most competitive venture capital deals in recent history.”)

A few of Minor’s Recent Financial Dealings

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