As some of you may already know, my employment at EWM Realtors was terminated this afternoon. The Miami Herald published a story this evening on their website revealing that the developer of Opera Tower has sued EWM, and myself, for $25M.
The interesting thing about this case is that I did not have my license hung with EWM when I wrote that post. In my opinion, they are coming after EWM because their parent company is owned by Warren Buffett’s Berkshire Hathaway. I have no ill feelings against EWM. I fully understand their position on the situation, given that they are owned by a much larger entity.
The reason why I wrote the post is because I was receiving a lot of phone calls from contract holders of the development telling me that they had no intention on closing on their condos. In my opinion, a blog is a vehicle to share opinions, thoughts and concerns. I was merely sharing these concerns with potential buyers and contract holders. About three weeks ago, a local newspaper disclosed a story about a class-action lawsuit against the developer filed by contract holders wanting to get out. This topic was an area of concern, and one that I felt needed to be addressed to my readers.
I had no malicious intent against the developer nor the condo development. I was merely sharing my opinion with the readers of my blog and the concerns of current contract holders. I see myself as a real estate agent on the street that is sharing the concerns and opinions of others.
Here is the CBS4.com story for those of you who aren’t local to Miami.
180 responses so far ↓
1 Lipe Medeiros // Jan 29, 2008 at 2:16 am
Lucas,
My vote of support goes to you. I think you have been doing a great job expressing your opinions, getting people involved and fully utilizing your market knowledge. Please do no stop.
All the best,
Lipe
2 Julian // Jan 29, 2008 at 4:13 am
I think the sad thing is that whatever the rights and wrongs (i.e. defamation or not), whether this is david vs goliath and so grossly unfair - the sad sad fact is that if it comes to suing a realtor (and EWM) to try and save your business when all others around you are straining and crumbling is such a clear indication of how far into the Emergency Room the Miami real estate market really is.
3 Opera Tower, LLC & Tibor Hollo Sues Me for $25M // Jan 29, 2008 at 5:09 am
[...] Value Ireland wrote an interesting post today onHere’s a quick excerpt [...]
4 darryl // Jan 29, 2008 at 7:04 am
Tibor may not have filed BK during the last downturn but it sure looks as if he is well on his way now…..this truly reeks of desperation and shows a complete lack of confidence in his own project. I still remember the ground breaking party at Villa Magna about 2 1/2 years ago……Great Party!!……..Just when are we going to begin construction on this cash flow killer? If Tibor had any class he would donate that land to the city and give the residents of Brickell a small waterfront park as it will not be worth developing during the rest of his lifetime. Hang in there Lucas I think free speech still exists in the USA.
5 gimleteye // Jan 29, 2008 at 7:36 am
Shame on EWM and Hollo!
6 binoj // Jan 29, 2008 at 8:10 am
Hi
I just saw the yahoo news segment. Please fight this to the utmost. Get ACLU involved.
You have every right to write your opinion in your own blog !!!
Binoj
7 Steve // Jan 29, 2008 at 8:16 am
So, are they suing CBS also? What if a newspaper makes the same mistake? What about a retraction?
8 Mr. Blue // Jan 29, 2008 at 8:55 am
Lucas,
Just saw the CBS4 segment on yahoo. I cannot believe that this real estate developer is actually suing you for expressing your own opinion on your blog! Unbelievable!!!
This is ridiculous. Clearly a sign of desperation on the developers part. In the segment, he mentions that your scaring the community with your comments? What a dumb statement! If anyone is scarring the community, its the developers and there shady tactics.]]
Just letting you know to fight this all the way because this fight is not only about real estate opinion blogs but i feel this will determine and set a precedence for all other free speech cases, at least free speech on the Internet(s).
9 FellowMktMaker // Jan 29, 2008 at 9:05 am
I just came across the Opera Tower suit on Yahoo before checking on your blog (which is a daily ritual for me now). The developers reek of desperation and need to acknowledge the economic reality. As for your employer and you parting ways, I think that you are nothing but sheer “QUALITY” and you’ll land on your feet once the dust settles. If I were in the market for a Miami condo; I’d be knocking down your door to secure your services. Hang tough, bro!
10 cyrus // Jan 29, 2008 at 9:08 am
spineless move on the part of EWM to not support you.
11 Ralph Gedagoya // Jan 29, 2008 at 9:26 am
You may want to get some legal advice and keep your mouth shut until doing so. Yes, this country has free speech. However, you need to get your facts straight and cannot say someone filed bankruptcy in their past if they did not. It is kind of petty filing the suit and if EWM is owned by Buffet, they’ll get it thrown out. Regardless if you feel that you are right or wrong please realize an individual (unless extremely wealthy) does not want to litigate with a company. It’s a fallacy that the court system is always just. Sometimes it boils down to who has the biggest bankroll and can file the most motions, etc.
12 Robert Zimnicaru // Jan 29, 2008 at 9:47 am
Open an Online Petition, I’m sure many of the world wide bloggers will sustain you. I will be one of them and I’m located in Romania / Europe.
Good luck!
Robert Z
13 Renee // Jan 29, 2008 at 10:06 am
I am with Robert, open an online petition.
I am a Realtor (R) highly critical of the Las Vegas High Rise resale market which has closed less than 20 units per month since the credit crunch and holds 9+ months of inventory on the rental market (with a valley wide absorption of an average of 3 months) and 4-7 years of resale inventory.
The cheerleaders (sellers) in this market are passionate and want me to shut up but there is NO APPARENT demand for people who actually want to live in these units. All you have to look at is the absorption for the rental and resale markets and then take a drive down the strip to see how many lights are on in closed buildings.
They are speculative investments and we are seeing the beginning of the foreclosures just now. The agents who sell this market claim they are cash bought but the tax records show a ton of conventional and private financing with adjustable rate mortgages.
I have never been critical of ONE builder or developer in particular but this whole market segment. This is the kind of stuff that wants to scare a person silent.
14 Mike // Jan 29, 2008 at 10:19 am
Lucas, your viewers support you. This case has no basis and is nothing more than a scare tactic.
15 Sbki // Jan 29, 2008 at 10:37 am
”We want to encourage associates to be a positive source of information,” Shuffield said
Maybe someone who lost in the market can hold Shuffield responsible for bad investment advise.
Eventually people are wise enough to know when being fed a bunch of crap.
Keeping it real is what sets this blog apart from the rest. Keep up the good work Lucas
16 Xavier // Jan 29, 2008 at 10:59 am
Things must be fragile for Hollo to pull this. Best of luck to you Lucas.
17 Raffi // Jan 29, 2008 at 11:02 am
I love how Hollo is trying to point the blame for his terrible building and horrible business tactics on you. I think this blog speaks the truth, everyone knows that the opera tower is overpriced junk. the only reason he’s suing is because he has no money left. what a loser Hollo is……..and by the way someone should ask him about villa magna, another dud development brought to you by idiots in real estate. keep up the good work Lucas, losers like Hollo don’t ever end well.
18 V // Jan 29, 2008 at 11:05 am
Hi Lucas,
I live in Washington DC and bumped into your blog one day while I was looking for information because I’m moving to Miami. I’m not involved in real estate and am not even in the market to buy, nevertheless, I found myself gravitating to your blog every day. (This is the first blog I’ve ever kept up with.) Your candid way of expressing what’s happening in the market is compelling and informative. I was shocked to read about this new development and hope the courts see the merit in what you do. What’s the big deal, the guy can just ask for a retraction and that’s that. The readers will read the post, digest it, and move on. Magazines do that all the time (they post the ‘correction’ in the following issue). I hope this doesn’t dissuade you from continuing this blog.
By the way-any advice for us folks going into the brickell/south beach rental market?
Best of luck to you. We’re rooting for you!
19 Terry // Jan 29, 2008 at 11:08 am
Lucas, I support you all the way and will keep using your advice to buy my condo in Miami.
I find EWM’s reaction disgusting and will certainly never work with them as they should support their associates and not let them down.
When they say they did not know about your blog, it is just ridiculous…
As for Hollo, I think this will put him and his Opera Tower develop;ent in the public light for the real truth, and it will hurt !
The people are with you Lucas. Hang in there !
20 RMP // Jan 29, 2008 at 11:21 am
Sueing a blogger!!!
What has this country come to!
Does anybody not understand the constitution? A judge should dismiss this right away. $25 million for a blog post! LOL
21 RMP // Jan 29, 2008 at 11:22 am
And I understand you have no ill feelings to EWM, but I for one will encourage all my acquaintances to find somebody else from now on.
Realtors should not be brown nosing developers to that degree.
22 Ines // Jan 29, 2008 at 11:23 am
I have to tell you that I am very disappointed about the whole EWM thing, but not surprised. You have a lot of people backing you up, especially real estate bloggers.
Best of Luck Lucas!
23 geniusofdespair // Jan 29, 2008 at 11:28 am
We at Eyeonmiami posted your story on our blog. We are not happy about what is happening to you –
What crap. Blog on….
24 antwan // Jan 29, 2008 at 11:29 am
CALL THE ACLU!!
25 agentgenius.com: real estate | austin | technology | marketing | social networking | agents and more » Blog Archive » Blogger Sued - $25 Million // Jan 29, 2008 at 11:45 am
[...] Hollo in the Miami Sun Post last year, who has leveled a $25 Million Defamation Suit against a Florida real estate blogger. source Miami Herald: read full [...]
26 Un-Related // Jan 29, 2008 at 11:52 am
RMP says: “Realtors should not be brownnosing developers to that degree.”
This may be the understatement of the year. Wait until the indiscretions of the in-house hacks at RCRS come to light and they have to pull their collective Pinocchio-length noses out of the “big guy’s” backside in order to hael save their careers.
27 Ines // Jan 29, 2008 at 11:56 am
Maybe Tibor wants the $25 million to re-invest in his own project like Perez is doing
**this is an opinion, and only an opinion and is not meant to discredit the developer or anyone involved!**
(is that what we’ll have to write on our blogs now?)
28 Tara // Jan 29, 2008 at 12:05 pm
I am with you V. I am definetly not a blogger but find myself drawn to your website since I bumped into it a few months back. Stay positive and keep up the good work!!!
29 Eddie // Jan 29, 2008 at 12:16 pm
“I viewed these statements to be more negative in tone than just providing information,” Shuffield said, adding the firm wouldn’t have hired Lechuga had it known about the blog.
So EWM hired Lucas with no knowledge of his blog? I find this hard to believe. Mr Shuffield is either clueless or a liar. I suspect the latter. Regardless of which, I wouldn’t want him or his company representing me. I will be in the market to buy later this year and will make a point to steer clear of EWM.
30 Chris // Jan 29, 2008 at 12:18 pm
Lucas I have a feeling this case is going to go to the supreme court.
All the real estate bloggers are with you. This is a matter of free speech being surpressed and its unconstitutional.
I am going to try and get this message out to other bloggers.
31 S // Jan 29, 2008 at 12:19 pm
Hey Lucas-
Sorry to hear the crummy news. Just know your blog is the only up-to-date and honest source of info on the Miami condo market out there and is an invaluable resource. When the time comes for me to make a purchse, you’ll be the first guy I call. Hang in there.
32 RMP // Jan 29, 2008 at 12:25 pm
http://techdirt.com/articles/20060606/0323235.shtml
33 Johnny Remigio // Jan 29, 2008 at 12:38 pm
Hang in there! I applaud you for expressing your concerns and speaking your mind. The Miami real estate is in bad shape and they can’t handle the truth!
Keep your head up!
34 Robert D. Ashby // Jan 29, 2008 at 12:49 pm
You have my support as well. Blogging is supposed to be opinionated and Hollo seems to be tryng to minmize his loses or simply lay “blame” elsewhere for the condo’s failure. Why not blame a blogger for the fact no one wants to close in this depressed real estate market?
35 Fred // Jan 29, 2008 at 12:56 pm
Why is anyone surprised by his company’s response? This is what ALL coporations do. They give in to anyone that complains, protests or files a suit. When was the last time you heard a corporation/company back their employee/worker? When a shock jock says something “offensive” on the radio, they fire them right away. Even though they made the stations millions of dollars along the way. This is what America has become. The pussification of corporations & Americans continues to happen all around us. Wake up people. Best of luck Lucas. Keep fighting, however, make sure you keep your weapons close to you and not in the news too much.
36 B // Jan 29, 2008 at 1:16 pm
EWM is just like any other brokerage firm. They don’t want the truth about real estate to get out. Realtors association is even worse. The real losers are the people who purchased anything in Miami from 2003 on. Nothing but hardships coming. Good luck waiting for a return on your investment capital once your maintenance fees and taxes are paid.
37 BFG // Jan 29, 2008 at 1:20 pm
As many people as possible should digg the Herald and CBS stories to get as much attention on this as possible. You no doubt have the support of the entire blogging community. This issue has very wide-ranging repercussions.
Think of what will happen if every blogger has to censor their posts for fear of legal action or posting a small error.
—–
That said, I do really feel that Lucas is the reason that the Miami real estate market is in the dump. If he had just followed the EWM “happy sunshine” policy, everything would be fine. Condos would still be selling like hotcakes, pre-construction parties would be raging on, and we would be at $3000/sq ft by now for downtown condos.
Things like economics and mortgage fraud don’t matter when you’ve got the power of positive thinking to overcome it. Shame on you for spoiling the party with your “realistic” view of the market.
38 LB // Jan 29, 2008 at 1:25 pm
LUCAS,
LIKE MANY OTHERS, I FIND YOUR WEB SITE EXTREMELY INFORMATIVE AND IMPARTIAL. FOR MANY OCASIONS WE SEE YOU POST DIFFERENT OPINIONS WITHOUT COMPROMISING.
KEEP UP THE GOOD WORK, I AM SURE YOU WILL HAVE MANY PEOPLE BACKING YOU UP.
BEST WISHES,
LB
39 Buyer Tom // Jan 29, 2008 at 1:28 pm
Well, I am a BUYER looking in this market right now and have read this blog with interest. I for one will try to NOT buy anything listed by EWM if I can help it since it would appear from EWM’s actions they are NOT interested in looking after the BUYER’S best interests by aiding the silencing of this blog. Shame.
You need to do what is your best interest Lucas. Get a lawyer, don’t make further comments unless your lawyer says it is OK, and print the retraction or correction. It is a bogus lawsuit meant to intimidate. One thing is certain, as a buyer, I don’t want to by from underhanded developers…..and this action is so over the top that I won’t buy from this developer for sure.
The developer also has a long road to prove there are any actual “damages”. The current market is to blame for the slow sales….maybe he can sue the Fed!
40 Greg // Jan 29, 2008 at 1:30 pm
It always amazes me what a complete lack of understand of the first amendment most bloggers have. The only thing it protects you from is criminal prosecution from the government. (That’s the part where it says “Congress shall make no law”)
There isn’t anything in it that provides protection from civil consequences.
If in fact Lucas made an inaccurate “statement of fact” to support his “opinion”, and that inaccurate statement caused damages to the plaintiff, he absolutely can be held liable.
The first amendment has nothing to do with it.
41 Buyer Tom // Jan 29, 2008 at 1:36 pm
Also, what goes around comes around. According to the newspaper article there have been 10 lawsuits filed against the developer already for whatever reason. If all the buyers each filed their own lawsuit I would suspect that that would be a heavy burden on the developer just like the developer is trying to do to Lucas. In the end, the developer is going to get hurt the most from filing that lawsuit…that is just my casual opinion. Maybe Lucas is an oracle and the correct should be to change the date to 2008? Let the legal filings commence….
42 FD-Condo-Hotel-South-Beach // Jan 29, 2008 at 1:39 pm
Hello Luca,
As a real estate broker in Miami Beach and also a blogger, I totally support you.
Your blog was always very interesting and your opinion just fair.
It is really a lawsuit to silence you, and it was bad played by the developer. It will show his development in a very bad light now.
Anyway his building wasn’t in my favorites, and everytime I pass by I am thinking that this will be a very nice solution for the affordable housing we badly need in Miami.
I wish you good luck. He brought you too a lot of publicity. And a bad publicity for himself.
Best regards.
43 Pages tagged "opera" // Jan 29, 2008 at 1:44 pm
[...] bookmarks tagged opera Opera Tower, LLC & Tibor Hollo Sues Me for $25… saved by 6 others iveyboyze bookmarked on 01/29/08 | [...]
44 John // Jan 29, 2008 at 1:51 pm
Protesting outside the development is still fair game…… Who’d buy from a shady developer. If I were a buyer I’d try to get out of my contract too………
45 RQ // Jan 29, 2008 at 1:51 pm
This lawsuit is exactly what the developer shouldn’t have done. The negative publicity will only draw more attention to Lucas’ comments. Case in point, I spoke to a colleague of mine this morning and he mentioned that he has a contract at Opera Tower. They had every intention of closing, but after seeing the story on CBS4 last night, they are second guessing it.
46 hisham ferzli // Jan 29, 2008 at 2:14 pm
You should counter sue for loss of job and income and many other potential harm they have caused you. Use your blog to update readers on the lawsuit and mediatise it as much as possible.
47 Support // Jan 29, 2008 at 2:23 pm
It is obvious Shuffield acted on legal counsel. Hollo is just after money with a frivolous suit and to make a statement.
EWM is not entirely Shuffield, but its 800 independent contractors who work really hard to make it happen for a buyer or seller. Who’s objective and proactive work make plenty of people happy and wealthy.
The opinion of one does not mean is the opinion of all in the company. After all, wasn’t Lechuga’s great information blog one of EWM’s agents?
So before you cut off EWM hardworking people, realize you are doing the same thing your are critizizing.
Lucas it would be wise of Hollo to drop the suit once Hollo sees the negative publicity on his own development.
No one has mentioned the detail work you do, it takes time to gather all that data and give it free at the same time you are running a bussiness.
This has been a tremendous learning experience for all; Hollo, the high court at EWM and you.
48 Another Florida SLAPP Suit « The Legal Satyricon // Jan 29, 2008 at 2:53 pm
[...] The blogger’s statement is here. [...]
49 Mauricio // Jan 29, 2008 at 2:57 pm
Lucas,
I have to say your blog is the best informative by far. This blog is part of my coffee break. Just hang in there and the truth will come out. Developers are desperate and they would do whatever they can to stop people like you from passing nothing more than what is REALLY going on around here. You have a vote here buddy.
50 Buyer Tom // Jan 29, 2008 at 3:04 pm
To Support - I think he was just recently employed at EWM, so the blog it not a product of some sort of good, open and honest culture at EWM. I stand firm to not deal with EWM now. Nor with anything done by Hollo unless he settles this tomorrow.
It’s my own personal boycott of shady real estate people. Maybe others will agree.
51 Buyer Tom // Jan 29, 2008 at 3:08 pm
Also, high stakes real estate development is a risk. If Hollo had to turn over some of his properties to a bank in the past, that at least qualifies in layman’s terms for bankruptcy (someone who has insufficient assets to cover their debts)….it may not be a complete liquidation of everything, but it is what it is and happens in a boom bust cycle.
52 Fred // Jan 29, 2008 at 3:23 pm
To Buyer Tom - That is the point. Lucas never said he filed for bankruptcy. He said he went bankrupt. There is a difference between filing for bankruptcy and saying someone went bankrupt.
To Support - IF you are working for a company that publically says they do not want their agents to be honest, then you are sort of supporting their statement. IF you work for them, then you are saying you are behind them. I know it is not easy to just get up and quit, but sometimes you have to stand up for what you believe in. IF you are behind them after they say something like this, then you are just another example of the pussification of America.
53 RMP // Jan 29, 2008 at 3:39 pm
Is there a DIGG link to the herald story?
54 cyrus // Jan 29, 2008 at 4:27 pm
i’m sure any attorney will tell you to keep this blog dormant. best of luck…and ONCE you beat this, the consumer will be on your side, possibly tremendously growing your business…
this is a great example of how pathetic our corporate system has become: developer can’t sell so he sues someone…realty firm wants to run away from any kind of ‘trouble’ eventhough their realtor is in the right (how pathetic…great way to self-ruin EWM’s reputation…).
NEXT: New England Patriots owner Robert Kraft sues 14 year old’s blog for expressing “Tom Brady Sucks”. so pathetic…so so pathetic.
fight this to the end!
55 houlio // Jan 29, 2008 at 4:43 pm
Keep the faith! The ACLU has enough money and power to fight this. I can’t believe someone gave the developer such bad advice. Great PR for you and terrible PR for the developer and his condo project. Having been in real estate for over 15 years I know the difference between what is good for your client and what is good for the developer! One of the first things you learn in real estate school is to be HONEST with your clients! Congrats on your honesty and concern!
56 Bill P // Jan 29, 2008 at 5:22 pm
Lucas,
You are making a name for yourself through this unpleasant process. Hang in there- you have a lot of support.
When you made the move to EWM, didn’t they state that they were aware of your blog and supported your views?
57 Mott Kornicki // Jan 29, 2008 at 5:40 pm
It would be nice if EWM stood by you and backed you. But I guess this matter had to be dealt with in a “stop-loss” manner. If the development business was not in the shape that it’s in - this would never happen.
58 Julio Bonilla // Jan 29, 2008 at 6:10 pm
Lucas,
You have my support. No way of knowing for sure, but I have a hunch this is actually a gift that is going to help you, provided you are successful in your defense (and I think you will be).
Also, sure, get some legal counsel but keep the blog rolling or the suit will have achieved one of it’s objectives.
And I agree with FD-Condo…: Bad move by the developer; not a very wise public relations manuever when looking at the big picuture. Just take a look at the environment we’re in. You will be portrayed as the victim.
Finally, I’m surprised that Greg (”It always amazes me what a complete lack of understanding of the first amendment most bloggers have.”) is so amazed; I figured top notch attorneys would know that most bloggers are not experts at the first amendment.
Good luck Lucas!
59 Connie // Jan 29, 2008 at 6:29 pm
LUCAS….WE ARE ASSEMBLING A GROUP OF LAWYER’S TO COUNTER SUE ….ON YOUR BEHALF>WE WILL BE IN TOUCH AS SOON AS WE HAVE ALL THE LAWYER’S IN PLACE.THIS ONE WILL DEFINATELY BE A CASE THAT WILL ROCK THE OPERA HOUSE. GOOD LUCK…..
60 Jorge // Jan 29, 2008 at 6:42 pm
Fight it out!!
Lawyers shouldn’t be able to own cyberspace.
And if these snakes really do go to trial, by the time this goes to court that old evil developer should be about to croak.
61 Sean // Jan 29, 2008 at 6:43 pm
I strongly encourage everyone click this link and get the DIGG effect going!!! This will bring the issue mainstream.
62 Sean // Jan 29, 2008 at 6:44 pm
Sorry, HERE’S THE DIGG LINK!
Let’s make the frontpage!
http://www.digg.com/business_finance/Miami_blogger_is_being_sued_for_25_million
63 Dev. Apprentice // Jan 29, 2008 at 6:45 pm
L. As a developers apprentice, I support your freedom to state your opinion.
A developer should stand next to his project and take the criticism the way an ARTIST does.
Blogging is clearly an opinion forum and a great innovation for communication. This is clearly an attempt to infringe on Free Speech.
As for the bankruptcy comment, you have a great blog receiving a lot of attention and gaining fans (me being one). Let’s make this an accurate blog; so we can share our opinions accurately.
Good Luck.
64 Jason Sardi // Jan 29, 2008 at 6:50 pm
Lucas,
Haven’t read the bulk of the comments but I’m so sick and tired of this crap (lawsuits, whiners, those looking for a quick buck which costs all of us more money in the courts) that I could puke. I’m on your side and let’s hope frivilous lawsuits and attempts to dissuade free speech and opinions ends sooner rather than later.
Jason
65 Not Me // Jan 29, 2008 at 6:55 pm
Who wants to buy from a developer who does these heavy handed tactics? Not Me. Why not a call and ask for a correction first??? Who wants to close on their condo now if the market is that bad for this developement. Not Me. Who wants to get stuck with all the condo expenses when half don’t pay? Not Me.
Lastly, who wants to deal with EWM now? Not Me.
66 Jo Co // Jan 29, 2008 at 7:49 pm
Tibor Hollo is suing because he knows he will go into bankruptcy anytime soon. LOL. That’s what greedy people get these days. Also, Lucas, I thought that nobody was losing their jobs in today’s economy?
67 miamigirl // Jan 29, 2008 at 7:55 pm
This suit will come to naught - almost guaranteed.
You have no recourse against EWM, but you should be proud of what you do on your blog, and the fact that you support truth and justice over developers and fat pockets.
68 Vegas // Jan 29, 2008 at 8:10 pm
That’s wrong. Even if what you said is totally untrue, they should have no right to sue you. What a joke the legal system is. Blogs are opinions, not facts.
69 Fred // Jan 29, 2008 at 8:10 pm
miamigirl - No recourse against EWM??? Now, he probably won’t do anything, but what they said was stupid. They didn’t know he had a blog? B.S. That is what Lucas was known for. They fired him because he was saying “negative” things? B.S. Most of what he said was his opinion and/or supported by facts. IF he wanted to he could go after them for firing him, but he probably won’t to make sure he stays “good” with the other realtors and to prove a point that all he wants is to defend his “right” to his opinions.
70 Jo Co // Jan 29, 2008 at 8:20 pm
I say sue his employer and Tibor Hollo. I think Mr. Lucas Lechuga will make it into the record books. Lucas, go to http://www.fluidnow.com and start filling out your unemployment form. Welcome to the club.
71 Samir Patel // Jan 29, 2008 at 8:24 pm
Jo Co, I believe I was the one who said that. But you have to admit this was not a loss of job due to the economy directly affecting Lucas. However, this is one of the reasons the American public does not have faith in their employers.
72 Jo Co // Jan 29, 2008 at 8:52 pm
Might not be directly, but you can say it was indirectly related. First, there is no way that his employer didn’t know that Mr. Lechuga had this site up. Second, a realtor would do anything to bring any business to themselves, to include posting personal opinions on this website to increase revenues. Third, his employer is now scared what the old rag “Tibor” might do to the company. Fourth, that lawsuit shows future potential home owners that the house market economy is not that stable.
The only thing I can say to Lucas is to counter-sue that old fart of Tibor Hollo for loss of sleep, loss job and whatever other crap you can think of. I’m pretty sure you can get a couple of millions out of that old rag and then you don’t have to sell anymore condos in this unstable GREEDY saturated house economy. Once you get those couple of mil, you can call me up and celebrate with this hard blue collar worker and vet., who can’t afford to buy his little condo in his birthplace town and live this so called, “American Dream.”
73 Bill P // Jan 29, 2008 at 9:23 pm
Lucas,
Try to settle for the top two floors at Opera Tower (condo fees and special assessments paid in full) and invite us all over for the celebratory party once you prevail.
74 Kevin Tomlinson // Jan 29, 2008 at 9:33 pm
Bill P
Can Lucas invite me?
75 Lucas Lechuga // Jan 29, 2008 at 9:36 pm
Kevin,
I’m not so sure. I don’t think Bill P wants to be in the same room as you.
Maybe we can hide you in the closet or something though.
76 Kevin Tomlinson // Jan 29, 2008 at 9:38 pm
Listen
I was leaving the decision to Bill P. Further, Lucas, you know I didn’t leave those comments.
77 Brett // Jan 29, 2008 at 9:40 pm
Sorry to hear about to the loss of your job, at EWM Realators. I guess they don’t realize what a huge group of loyal readers and potential customers that you have. We truely appreciate your honesty. I will never purchase a property through EWM or built by Hollo.
78 Sue Sue // Jan 29, 2008 at 9:50 pm
Does this mean I can sue realtors and bloggers that say untrue POSITIVE things about the market? There has been a lot of pump and dump and those “positive” people were lying…… At least Lucas tells the truth. Truth is a defense to defamation. And the truth about Opera going under may just be prophetic. Hollo shouldn’t shoot the messenger.
79 Aaron // Jan 29, 2008 at 9:52 pm
Bloggers Unite, Spread the Word!
If you like reading blogs or write your own, then this case demands your attention. It’s obvious from all the comments that this blog has a loyal following. I posted an article on our blog showing our support. Take a look …http://cityofaventura.blogspot.com/2008/01/25-million-dollar-blog-lawsuit.html
HELP SPREAD THE WORD AND DIGG THE NEWS…
http://digg.com/business_finance/25_MILLION_DOLLAR_BLOG_LAWSUIT
80 The Oz // Jan 29, 2008 at 10:03 pm
Duh, what was I thinking, Lucas is to blame for the entire real estate market. How stupid of me to think it was just part of the market cycle. Had Lucas just kept his mouth shut and sing pretty little praises that everything is alright, all the condos in miami would be worth twice as much..and the Opera would be worth twice as much. I bet Lucas also said something bad about the stock market too so he’s to blame for that too. Or it could be just that the Opera is overpriced. My guess is it is the latter.
81 Jo Co // Jan 29, 2008 at 10:25 pm
Bill,
By the end of the year the top 2 penthouses at the “Opera Tower” isn’t going to be worth a million. I rather let Mr. Lettuce get the money and run. Tibor Hollo, I know you are reading this and you made the mistake for threatening Lucas. I hope YOU have a defense team since I’m pretty sure there is gonna be a flock of money hungry lawyers(due to our stagnant economy) who is ready to take your refugee hungarian ass money on part of Lucas behalf.
82 Miami-Forum // Jan 29, 2008 at 11:17 pm
Lucas, like the many other bloggers who posted before me, you have my support! People like Hollo and companies like EWM disgust me.
83 Bill P // Jan 29, 2008 at 11:41 pm
Then maybe Kevin can help find Lucas a nice penthouse on the beach and we’ll party there. We’ll all be celebrating, except Tibor and EWM.
84 Haldon // Jan 29, 2008 at 11:45 pm
Lucas-
Congrats on sticking by your word. You have consistently posted what you believed to be true about the Miami market, its buildings, and its developers. This was no different. If you truly believed it to be true, and it wasn’t stated with reckless disregard for the truth, then you should be fine.
Probably wise though to keep quiet for a bit. I will miss your blog for however long it is dormant. Find yourself an excellent lawyer and kick this guys frivolous complaint to the curb. Best of luck to you.
85 Xavier Itzmann // Jan 30, 2008 at 12:06 am
Lucas -
Best of luck. Once you figure out your strategy, be sure and put up a paypal contribution link and explain what the funds will be used for, even if it’s just to contribute towards your mortgage.
You won’t get much, but you know some of us will pitch in.
Best,
86 RA // Jan 30, 2008 at 12:09 am
Put it this way. This is great for you Lucas now with all the support and biz you’ll get out of this because of the media atttention you’ll have plenty of buyers that want you to represent them and will make plenty of $$$.
You should prob thank them for doing this to you as you’ll make plenty of money and biz now.. matter of fact tell him you want a water view for yourself.
This is frickin retarted.
EWM - you too. A bunch of cowards for not standing behind their associate and for lying saying they didn’t know he had a blog. Who u trying to fool. I wouldn’t want to be represented by that company. Forget that!
As far as the O tower, that place suxs. You don’t need this blog to figure it out. Frickin ugly rail balconies and those ugly green metal awnigs on the retail level. Looks like the aluminum roofs in shacks in Central America. Drove by today and it was hideous. Drive by and see for yourself and come up with your own opinion. Matter of fact the Now Leasing sign is up. Good Luck selling buddy.
End of the day this is a blog. It’s all perspectives and opnions. There are blogs that talk shit about things and give false statments about things but it’s still a blog.
People talk shit eveyday both good and bad honest and false. Eveyone has their freedom of expression and speech. And if this guy wants to express himself wether right or wrong it’s his frickin blog and can do so. You don’t like it then dont read it.
This will come out much more negative to OTWER and EWM. Lucas you will b the hero!
The person who should be fired is the dumb ass who gave legal councel to file this ridiculous suit.
Just like the moron judge who sued the dry cleaner for millions who claims they lost his pants. Now that guys in deep water!
87 Samir Patel // Jan 30, 2008 at 12:21 am
RA - I just have to say, hahahaha.
88 Lucas Lechuga // Jan 30, 2008 at 1:14 am
I want to thank everyone for your continued support. I appreciate it immensely. This blog isn’t going anywhere. I will continue to share my opinion, thoughts and stats with you.
89 Tortuous Interference Is What You Have Done // Jan 30, 2008 at 1:23 am
Tortuous interference is the unlawful interference into one’s contractual or business affairs. For example, someone who uses the web to defame an individual’s business and contacts their customers (or prospective customers) may be violating this law. A special case of tortuous interference called “Tortuous Interference with Prospective Advantage” is available in some states to punish those who seek to damage one’s ability to find and retain new customers.
The elements of the tort of interference with contract are:
A valid contract between the plaintiff and a third person that confers upon plaintiff a contractual right against a third person.
The defendant knows of the contract.
The defendant intentionally induces the third person not to perform the contract.
The defendant acts without justification.
The defendant’s conduct causes actual pecuniary harm to the plaintiff.
The above was copied verbatum from the oracle training website for internet usage. Lucas, maybe you should have consulted it before you decided to libel someone.
I certainly cannot feel sorry for you. Nor should anyone else for that matter. There are buyers at Opera Tower whose investments were trashed by you. How do you think they feel holding a contract and wishing to sell or close?
Timing is everything, and to create further turmoil in the real estate market by hypothisis, rumours, speculation, incomplete information is exactly what you did.
In my opinion you represent the profile of a small percentage of bloggers who act unresponsibly as though on a power trip (see someone’s posting above “bloggers unit”, who don’t listen to reason (or warnings) and think they are above the law. Many bloggers have terrible verbal communication skills and person to person skills, outside of their blog. Because of the enormous time and effort put into blogging they can lose these other skills. In my opinion your a classic example.
My own opinion is you should remain a blogger and get out of the real estate market completely.You have already done enough damage. It appears you spend so much free time on your hands blogging, I certainly question how many customers you have.
Further, if you want to be totally impartial in your analysis of the market you should just be selling information, and not real estate. There is a definate conflict of interest there. There are responsible people who do this, Lew Goodkin is one, John McCabe is another. They also talk about how down the market is, but they completely level headed and unemotional about presenting the facts and they paint a true picture of the market. They talk in a responsible manner without offending so many. You candidly could learn learn a lot from them.
That is a long shot though, you have obviously burned lots of bridges out there and run your blog like you have a chip on your shoulder or an axe to grind.
My own opinion is that there are more lawsuits coming from other developers, buyers, current contract holders, real estate agents and condo associations down the road, $25 million will look like a down right bargain down the road.
90 Really // Jan 30, 2008 at 1:39 am
The “Tortuous Interference Is What You Have Done” post is just nonsense meant to cause alarm. Are real estate prices really that fragile that a little criticism must be silenced. The market is what it is and a blog or two can’t change it……I say sue the people who hyped the market instead. I hope the anal lawyers examine the Opera purchase agreements to get people out of those contracts. Remember Hollo, don’t throw stones if you live in a glass house. Let the lawyers apply the same tactics to get the buyers out! Pointing out that a price is too high is not a tort. Obviously the above “smarty pants” is too narrowly focused on the “law” to have any common sense, fortunately jurors see through this nonsense.
91 JL // Jan 30, 2008 at 1:50 am
To “Tortuous Interference” guy above me… Let me guess, your legal background comprises of LA Law reruns and lots of wikipedia searches? I’m right, aren’t I. Yehp, I knew it.
Basically, this is all you need to know.
“Nova Southeastern University professor of constitutional law and ethics Robert Jarvis said that courts see blogs as, “written in unedited, unvetted fashion,” and doubted Hollo would win the case.”
Basically, when you get a law prof giving a strong opinion like that in a public forum, it’s a no brainer. Let me give you an inbetween the lines translation… Hollo has a snowball’s chance in Hell.
The funny thing is, when all is said and done, Lucas will come out looking like a star while Hollo just digs himself and his condos a bigger grave. Hollo needs to know that this ain’t the old days where you can be on the wrong side of the issue and bully somebody with a lawyer. Thanks to the internet, Hollo probably has damaged what was left of his reputation and the reputation of his condos more than any one blogger could ever do. Ironically, I think Hollo will need to apologize to Lucas first, if not, him and his properties will remain an online punching bag from Miami to Poland. Ain’t the internet grand if you’re the little guy?
92 Really // Jan 30, 2008 at 1:58 am
For the Opera, the fat lady has already sung.
93 Really // Jan 30, 2008 at 2:01 am
The comments on this blog aren’t any different than say the customer comments on Amazon, Best Buy, etc…..hardly a tort.
94 JL // Jan 30, 2008 at 2:05 am
To “Tortuous Interference” guy again:
“There are buyers at Opera Tower whose investments were trashed by you. How do you think they feel holding a contract and wishing to sell or close?”
Saying that 1 realtor can really sway the market for a complete condo with 635 units shows COMPLETE ignorance.
Also, what is your solution? Instead of criticizing bad buildings, would you prefer to make it easier for out-of-state condo flippers to sell their units at Opera at inflated prices so that somebody else gets left holding the bag? That’s just brilliant. You should apply for a position at EWM. I hear they have a new opening for a cheerleader, err sorry I meant a realtor.
95 reply to JL // Jan 30, 2008 at 2:37 am
I am saying stick to the facts. To hold oneself out as an expert (which Lechuga is not) and make predictions by trashing a project before or during the closing process takes place, is completely inappropriate. I know of several buyers who until reading Lechugas’ blog had no intention of walking away, but now don’t want to close. You can magnify that many fold.
I am not saying the market is not bad, I am saying don’t run down each project during the closing process. Let the buyers decide without creating hysteria and false hyperbole commentary. Lucas is 29 years old and has a lot to learn. There are ways of presenting information correctly, bad or good. Lew Goodkin is an example of a class guy who is respected and reports bad news accurately. He would never stoop to making predictions right during the closing process and making statements that a building is in trouble.
Further posting damaging out of date information on a project is an injustice, particuarly when you get the whole offering wrong as Lucas has done on another very high end project in Bal Harbour.
By the way your quoting one attorney who teaches law, Robert Jarvis. I know his work and there are plenty of attorney’s that would disagree with him and argue successfully against him. Case in point is the matter of ethics, and not letting a highly trafficed website interfere with the closing process. If I was a member of the homeowners association @ Opera I would sue along with Tibor for not giving Opera a fair chance by trashing the building during the closing process.
96 Utter Nonsense // Jan 30, 2008 at 3:06 am
This guy sounds like Tibor Hollo himself. Lucas, if in fact he is Tibor, then he just made your case. He is saying that you AREN’T an expert. If you aren’t an expert in the Miami real estate market then why should you be accredited as being a respectful source and how could you possibly have any affect on the number of closings at Opera Tower. If this isn’t Tibor, then this just shows that the general public doesn’t view you as an accredited source of information. I know this may not sound favorable to you, but in the eyes of a jury this will look very favorable. I’m a big fan of yours and wish you all the best!
97 A Buyer // Jan 30, 2008 at 3:12 am
Look, if the buyers liked what they contracted to purchase they will close. It really is that simple. Had the market kept going up 20% each year than who wouldn’t close? Lucas comments are what they are, and if someone wants to use that as an excuse then that is far more flimsy of an excuse than what the developers are trying to do to make people close. The fact is, if the product is quality and the price is fair, people will close. If the building isn’t what it should be, then that is Hollo’s fault. To point blame IN THIS MARKET is utterly silly so there is no way Hollo can claim any “damage” was attributable to Lucas’ comments. It is absurd. Shame on Hollo, and I for one will not buy from such a developer, period.
98 K // Jan 30, 2008 at 3:20 am
EWM knew of the blog (google cache)”EWM is pleased to announce that Lucas Lechuga has joined the EWM Brickell Office. Lucas is best known for his all about Miami blog - Miami Condo Investments. He has been chronicling the condo story for about 7 months now and has become the “go to” source for great up to the minute info in the Miami Condo market.” Dec 18, 2007.
99 JL // Jan 30, 2008 at 4:41 am
This is what Hollo and his cronies need to understand. If there is a concerted effort on Lucas’s part to denigrate Opera or One Bal Harbour, that is one thing, but when you try to single out a guy who covers the good and bad in a Real Estate market and tries to give out his opinions on all the condos that make up the market, guess what, he’s going to like some buildings and not like others! Did he break some Real Estate Secret code with this blog? Let me guess. Lucas should refer to Opera as a “Strong Buy”, and he could then refer to Continuum as a “Super Duper Strong Buy” and for his favorites, he could label them the most “Superest Duperest Strongest Buys”. Would that make Hollo and EWM feel better? Speak no evil… just call everything a strong buy or a stronger buy or a stronger stronger buy?
This is a blog, I don’t expect anybody to be 100% factually accurate… nobody does. Wikipedia is nowhere close to being 90% factually accurate, so would Hollo suggest we close that down? How about we close down all blogs and chat boards that have not been 100% accurate? This is the Internet, if you want 100% factual, you better turn off your PC or read everything with a grain of salt and take it upon yourself to fact check everything.
If Lucas honestly believes/believed Opera was a bad deal and believed that Hollo went bankrupt at one point, then I’m all for free Speech on a blog as long as he was not willfully targeting Hollo with information he believed to be false. The negative mentions on Opera are minute compared to the body of info on this blog, and I have no reason to believe Lucas made any willfully incorrect statements.
If Hollo wanted to act like a responsible normal citizen, he would have contacted Lucas first providing him with a chance to make corrections. Now if Hollo did that, and Lucas disregarded the correct information, then that would make it a completely different situation.
Hollo should understand the size 22 foot he’s inserting into his mouth right now. People are sick of lawyering to get what you want, and they are sick of Developers who under-delivered. All this internet exposure is going to focus more and more attention to the fact that Hollo is a guy who apparently under-delivered with his condos and believes in lawyering to bully somebody to take blame for his condo’s problems. Nice lesson for kids. If you screw up, go pass off your mistakes on a fall guy. Unfortunately for Hollo in this case, he chose to use a bully technique that worked pre-internet age, but whoops, this is post internet. Open mouth wide and insert size 22 foot. He needs to pray for blogger forgiveness before this lawsuit news gets translated into 30 different languages and rich Europeans/South Americans start looking through their contracts to see if Hollo or Florida East Coast Realty are on their condo contracts.
100 Buyer 2 // Jan 30, 2008 at 4:42 am
I need a realtor who will tell me the truth, esp. in this declining market! EWM has now proven it is NOT looking after the interests of the buyer. So, I will select another company. I will fire my EWM agent soon…..
101 To Do List // Jan 30, 2008 at 4:46 am
Note to self: (1) Wake up in morning. (2) Shower. (3) Call lawyer to get out of Opera purchase agreement because of material misrepresentation. (4) Go to work. (5) Watch Opera fail.
102 tibor // Jan 30, 2008 at 6:03 am
let’s get our freak on
103 hey // Jan 30, 2008 at 6:14 am
jl
YOU ROCK IT OUT!
104 Structural Engineer // Jan 30, 2008 at 6:31 am
I heard that Opera tower has structural issues.
105 Magazinul De Vise » Blog Archive » Blogurile de imobiliare sunt periculoase // Jan 30, 2008 at 7:46 am
[...] de cazul bloggerului din State acuzat de defaimare, iata cea mai buna analiza a cazului pe care am gasit-o pana [...]
106 Connie // Jan 30, 2008 at 8:55 am
YOUR FIRED…………a friend of LUCAS’S …talking about EMW.
107 morris // Jan 30, 2008 at 9:07 am
YOUR FIRED…………a friend of LUCAS’S …talking about EMW.
108 buy now // Jan 30, 2008 at 9:09 am
I wonder what THE DONALD has to say about all this B.S.
109 cyrus // Jan 30, 2008 at 9:17 am
…maybe some of the individuals here who posted reasonings through their interpretation of the law should first read the constitution…start with the 1st amendment…freedom of speech, remember that one?
if lucas represented that he believes this or that could happen…he is entitled to it - it’s his opinion!!
so whoever ‘tortuous interference’ is … before you try to appear as if you are an attorney, supposedly well versed in corporate/tort law, you should first improve your own grammar (as you insulted others who just jot all over blogs). start with “unresponsibly” and “your” (…it’s “irresponsibly” and “you’re”). not sure where you went to law school…JD from Tinbuktoo U. ? please…
110 columbusbestblog.com » Blog Archive » Disclaimer… the real estate blog world // Jan 30, 2008 at 9:33 am
[...] blog that started it all…. Lucas Lechuga’s Miami Blog - Opera Tower, LLC & Tibor Hollo Sues Me for $25M It’s not the blog post that started it all… that’s back in [...]
111 to "tortuous" // Jan 30, 2008 at 10:02 am
uggh… Please, before you start quoting the elements of a tort, LEARN HOW TO FRIGGIN’ SPELL!!! There’s nothing that undermines your argument more than your inability to use phrases correctly. Now, to comment on the underlying substantive argument that you flung out there like so much rotten turd on the wall…. First, Hollo did not bring suit for tortious interference of contract, he sued LL for defamation. Second, to even suggest that LL has impacted the market through (let’s say for the sake of argument) false claim of Hollo going bankrupt; even then, why would a buyer back out at that point? In other words, are you suggesting that after a $100K down payment, and due diligence that comes with a six-figure, out of pocket deposit, that the decision to forego that $100K will depend on a blog…. a friggin’ one-man-show internet diary? You sir, are a MORON. Please stick to your ranting and raving in front of Judge Alex’ or whoever your legal tele-tutor may be, and for the love of God, LEARN HOW TO SPELLCHECK!
P.S.: Lew Goodkin and Jack McCabe as unbiased founts of real-estate information? Both of these individuals have long-standing relationships to vulture capital funds that seek out real-estate bargains in Florida — they’ve disclosed as much. As oft-quoted as they are, do you really suggest that they have nothing to gain with touting pessimistic conditions?
112 Chris // Jan 30, 2008 at 10:16 am
Lucas, I managed to get the news story uploaded onto youtube.
you can see it on my blog housingfear.blogspot.com.
Housingpanic.blogspot.com is also running a story supporting you.
113 Paul M // Jan 30, 2008 at 10:47 am
Lucas I am a big fan of your blog and support you 100%. I am a long time Miami resident and it is fairly obvious that many condo developers are about to lose their shirts including Opera tower. It is pretty pathetic that Hollo is taking out his frustration at the market on you for expressing your OPINION. I commend you for being honest and forthcoming about the market down here.
114 Chris B // Jan 30, 2008 at 11:18 am
Lucas,
Good luck with the lawsuit. It seems like a shame that EWM wouldn’t support an agent/contractor such as yourself who tries to communicate honestly over the internet- But then again a lack of honesty is a big part of the reason that the housing market is currently in the state that it is. Keep up the good work.
115 Mike // Jan 30, 2008 at 11:22 am
Lucas,
I just saw a link to your blog on another blog. Fight the good fight Lucas. These people need to be exposed. Anyways, I can’t understand why so many people think Miami is so great. Personally, I think it’s a complete sh*thole with some nice ocean views. I wouldn’t live in that third world dump for anything. Good luck.
116 Randy Haddadin, PA // Jan 30, 2008 at 11:22 am
BUYER 2, I think the reason you are mad at your Realtor is that fact maybe you did not ask the right questions before hiring him. Buying is always good…Long term in this case and in this market. If you are a seller than realize that the profits will fly the longer you hold on to your un-real sale price in this market. As for Buyers, do buy in Miami, you can still get good prices from sellers who really want to sell and hold at least 3-5 years, maybe longer if need be.
117 Randy Haddadin, PA // Jan 30, 2008 at 11:27 am
Lucas, dont worry you have all the Realtors behind you!!!!
The developers are the main reasons we are in this slowing down market but also included are the rich investors who would pay any price just to get into a hot market which you can blame. Survival of the fittest I guess…
They jacked up the prices and un-educated buyers and investors bought into it. Now both parties are in panic mode unfornately.
118 Fred // Jan 30, 2008 at 12:07 pm
IF a buyer is not going to close because of Lucas’s opinions…Then that buyer was not told the truth and the buyer SHOULD do more research before they close. What is wrong? You hate for a Customer not to close because they know the truth now??? For the person who is writing the long posts with no real name. Just go away now. Your long azz posts are doing nothing, but making people laugh.
119 RMP // Jan 30, 2008 at 12:20 pm
http://www.digg.com/business_finance/Miami_blogger_is_being_sued_for_25_million/who
Dugg!
120 Interesting // Jan 30, 2008 at 12:33 pm
http://blog.ewm.com/2007/12/18/ewm-welcomes-lucas-lechuga/
121 Gary // Jan 30, 2008 at 12:36 pm
I guess I thought I had seen it all in my lifetime but this lawsuit is second only to the judge that sued the immigrant owners of the laundry company for $100MM that lost his pants.
Filing the lawsuit (and the following news publications) calls more attention to the public about this troubled project than the little know BLOG did.
122 Tom // Jan 30, 2008 at 12:45 pm
Can you put a paypal donate link up so people can donate to your defense?
I’d like to see you counter sue and cost them a lot in legal fees, mud in the papers, and then for them to have to pay your legals fees and all the pain and suffering you had to go through for a frivolous loawsuit.
I think they brought the lawsuit to silence you but instead they brought international publicity on themselves. This has backfired. They should rescind the lawsuit and apologize to you publically. Your employer should also apologize and compensate you for wrongful termination.
I bet Warren Buffet knows about this now and is probably asking his people, “Why the heck did you fire him you morons?”
123 To Mike the Clown // Jan 30, 2008 at 12:48 pm
To Mike who trashed Miami. Your post makes me wonder what sort of a clown you are. Why would you write in to support Lucas and then trash his city? I can’t figure out if just looking for attention or just plain stupid.
124 Candela // Jan 30, 2008 at 1:20 pm
I support Lucas, and this lawsuit is obviously frivolous and will get thrown out.
125 K. D. // Jan 30, 2008 at 1:38 pm
I am really glad to hear you aren’t going anywhere!
K.D.
126 Mike // Jan 30, 2008 at 1:50 pm
“To Mike the Clown”
I support Lucas.
As far as my comments, why are you so sensitive to someone having an opinion on Miami? It’s a third world sh*thole with ocean views. If you can’t take it thats your problem.
Btw, my immediate family lives there and I wouldn’t live there for all the money in the world!
127 Philly // Jan 30, 2008 at 1:51 pm
Hey Lucas,
I’m another Chicago transplant working as a trader, living in Miami. I’ve enjoyed your blog for the past year, and I’m disappointed to hear about your recent legal woes. A friend of a friend is Tucker Max, who is a blogger and author.
Though most find his blog to be extremely degrading and vulgar, I bring him up b/c he too was sued for something he posted on his blog. I am including a link to the story. WARNING!!! It is vulgar, but if you skip down to the last quarter of the post, you’ll find his lawyer’s information (located in Miami). You’ll definitely need a lawyer, so why not hire someone that has experience?
http://www.tuckermax.com/archives/entries/date/the_almost_banned_miss_vermont_story.phtml#705
128 Mike K. // Jan 30, 2008 at 2:26 pm
There are 2 Mikes…i posted the first response yesterday…dont know who the second Mike is…so now I’m changing my Name to Mike K….
129 Mike K. // Jan 30, 2008 at 2:42 pm
And I live in Brickell and love it…
130 Mike K. // Jan 30, 2008 at 2:48 pm
I wrote an email to Diana Olick from CNBC (real estate reporter). I encourage all of you to write and help Lucas get national/world attention.
The email address is:
RealtyCheck@cnbc.com
131 Ralph Cramdon // Jan 30, 2008 at 3:23 pm
The Court does not look kindly on frivolous lawsuits.
Suggest you get on TV, tell your story and stick to the facts.
132 Norby // Jan 30, 2008 at 4:56 pm
I am saddened by the series of events that has everyone so emotionally charged. Even though I have never met Lucas in person I admire his accomplishments and wish him success in resolving the current situation. He seems to be a smart man man with a great number of friends. For those who are posting in support of Lucas I want to turn your attention to Kalu Rinpoche, a Buddhist wrote something that everyone should consider at a time such as this. He said…”One does not have to feel totally at the mercy of one’s emotions. It is only when acquiesing to the emotion, or investing the emotion with the falshood of reality, that one is forced to play out the consequences”. I truly want Lucas to know that I have him in my prayers and I want him to succeed in this situation. I have the feeling that he will come out of this situation unescathed, without blame or damage.
133 Peter Santiago // Jan 30, 2008 at 5:24 pm
Holy Cow! Now the prime minister of Russia has held a press conference about this lawsuit by Tibor Hollo. I think Tibor is setting a global precedent for these tyrants.
Here’s the video: http://tinyurl.com/2rbk3c
Peter Santiago.
134 Lucas Lechuga // Jan 30, 2008 at 5:50 pm
Peter,
That was absolutely hilarious! I can’t believe Putin got a hold of the story and decided to hold a press conference about it. LOL. The blogosphere is doomed after someone like Putin makes a statement like that!
135 Caroline // Jan 30, 2008 at 5:59 pm
He shall overcome!
I am still in utter shock over the whole thing!
Crazy world and crazy people…Good luck and Blog on!
136 Lucas Lechuga // Jan 30, 2008 at 6:01 pm
Norby,
I’ve heard very good things about you and wish you all the best as well. Great quote that you shared with everyone.
137 Johnny // Jan 30, 2008 at 6:23 pm
Why only $25 million. I’m betting the value of Opera will decline a heck of a lot more than that over the next 2 years in this market! The $25 million is just a crazy number meant to intimidate. So sad.
138 Miami Real Estate Blogger Sued for $25 Million | Word Sell, Inc. // Jan 30, 2008 at 7:00 pm
[...] The story has been in the news - take a look at this CBS video clip, and this report from UPI. You’ll be seeing more in the near future. To read Lucas’ take on the situation, click here. [...]
139 umer // Jan 30, 2008 at 7:34 pm
your blog has been fantastic! Please contact me for any possible support! At some point I hope to be buying a vacation place in Miami and am now convinced that i would like to do that through nobody else but yourself, LUCAS. Do keep the Blog going.
140 Brent // Jan 30, 2008 at 8:30 pm
I am a real estate investor from california and my jaw almost hit the floor when I saw this aggregious lawsuit. The old man has lost his head!!!
141 psaico // Jan 30, 2008 at 8:50 pm
good luck
142 Ryan // Jan 30, 2008 at 9:01 pm
Tibor: “Hmm.. what can I do today that will a) substantially raise the profile of my nemesis (LL) and his blog, thereby increasing the attention that my building (and it’s Problems) will receive?
LL: “Why don’t you sue me for, say, 25 million?”
143 ana // Jan 30, 2008 at 9:40 pm
this is totally unacceptable or should i say outragious. what is happening to this gentleman’s company has to to with himself, greed and very poor forcasting. did they think they could just reel in as many hispanics as possible and decieve them. everyone wants a piece of the U.S. until it does not work for them. invest in your own country. Putin? this is a shaddy bunch and they are not getting caught for all the world to see. i am an investor and this blog has helped me tremendously, i travel to south florida on business and wanted to look at the Opera House. NO LONGER.
144 Michael P. Schnabel // Jan 30, 2008 at 9:59 pm
If you navigate this event cautiously and wisely, and in the process stick to your values and beliefs, at the end you will emerge not only vindicated but also with a new and successful business model. Thinks about this!
145 Jamie // Jan 30, 2008 at 10:02 pm
I’m late to the party here, since I stopped reading Lucas’s blog after he dropped South Beach.
This whole matter would be laughable, if it hadn’t cost Lucas his job and the intimidation of a $25m lawsuit.
As has been posted above, there is clear evidence that EWM knew of his blog when they hired him.
I’m pretty sure Lucas doesn’t have $25 million, (sorry Lucas, I have the same problem myself) so the lawsuit is a complete waste of time.
Ryan: You said it.
Glad to hear the blog will continue.
146 Lucas Lechuga // Jan 30, 2008 at 10:30 pm
Just wanted to let everyone know that I have written a new post. It is on the front page of my blog.
Disclaimer: If you end up reading this comment two years from now, then I want you to know that the post is no longer on my front page.
147 MiamiRealEstateKing // Jan 31, 2008 at 1:31 am
Wow! I first heard about this yesterday and couldn’t believe it.
That “tort genius” definitely takes the prize though.
Guess you’ve never heard, Mr. Tort Genius (like the other genius builder out there), that, “opinions are like noses…everybody has one!” And that, my dear geniuses, is the way of the blog! A place to have a written conversation and express opinions. As an expert, I’m entitled to my opinion (and of course…the geniuses can have their opinion too – which is summarized in Two words…American freedom).
Also, I disagree with your assessment of Lucas and whether he is an expert or not. The blogsphere says he is…so he is.
Besides, I watch CNBC quite a bit and wonder if the comments and opinions about the market, the recommendations to buy or sell, the opinions of the strength any company or investment weighs on the market are ’suable’ comments and opinions? After all, MILLIONS of people (worldwide?) watch these reports and guide a lot of their investment strategy on these news, comments, opinions, etc in each of these shows (Mad Money’s Cramer being one of the most outspoken. Not always right or respected by all, but always listened to).
I know, I know….the argument is weather Lucas made an inappropriate comment regarding the bankability of this developer. Regardless…how’s this lawsuit going to get his condo’s sold now (or in a very long time)?
Who’d buy from someone in the middle of litigation?
Now, follow me here. Here comes the turn of the century, with stock markets crashed, people choose to move their investments to real estate, driving up market values, creating demand for more and more housing. Temperatures raise, excitement builds, bankers and lenders of all types begin to come out of the woodwork, investors compete for business also going to speculators.
All hell brakes loose, Greenspan notes the “exuberance” in the market and warns this cannot be sustained, Market experts say the same thing time and again and then…VOILA! We have a real estate market meltdown!
LET’S SUE THEM ALL. THEY CAUSED THIS MARKET TO TURN by simply pointing out the doom of it all!
Right?
HA!
This shortsighted, failed developer who’s now looking for any dumb excuse to recover some of his losses, is probably one of those like the “tort genius” who believe that things happen TO them. Scarcity vs. Abundance mentality.
They just want to blame what was truly caused by market forces and themselves, on others.
But…since “the markets” can’t be sued…and Lucas and EWM can…he does! Simply, heroic!
Each of these developers are businessmen (some are loosers). Each made a decision, after carefully studying market conditions (ehem), to invest and borrow money to acquire land, secure an architect, present, propose and get the city approval and permits for building a project (Opera is only one of hundreds!), build whatever concept they envisioned, hire Realtors (really…they quite liked Realtors then - ironic isn’t it?), create marketing parties, etc.,
Yet, if they missed what “market forces” control, and end up holding the bag on millions of dollars in real estate because their investment got started at a poor time (that they chose), they misread the market and miscalculated the results of thousands of units coming out simultaneously, missed the warning signs discussed by EVERY EXPERT IN EVERY CHANNEL, EVERY NEWSPAPER AND EVERY COUNTRY and continued to exuberantly build, and still refuse to recognize that, “la cagaron”….well….I guess, “sue somebody” was their moment of brilliance.
So, after throwing their creation down the drain, now they choose to make matters worse by going after a “little guy”. The big, bad developer, going after the little blogger/ Realtor. Great story, genius!
So, blame ONE LONE blogger/Realtor for their demise. How lame!!
Each of those buildings were sold on good merits or shady tactics. Each picked their fight. I don’t know which platform was Opera sold under, but I know now who they’re looking at to back up their failed dreams…You Lucas. It seems they’re now looking at you to bankroll their demise.
Many developers sold to would-be investors (speculators) who ONLY purchased OPTIONS. That’s what some of these developers are in denial about. They never sold condo units to these speculators…they sold options!
They were not called options in their contracts, but deep inside each of these speculators knew the way out. They had the OPTION to walk away and not close. The developers knew this, but by sheer greed many chose to keep their eyes closed to this reality.
They figured, once the upfront moneys are in…the rest of the financing is done, I’ll worry about the few that don’t close (THAT ONE BIT EVERYONE OF THOSE DEVELOPERS), and resell the units (ha!) and double dip (yeah, right). Gatcha!
Options work DAILY in the stock markets. If each of these short or long option position holders were not able to walk away from their option and their option money and were forced to close on purchases they did not want, where would our markets be?
This is what this ridiculous suit is looking to dictate on the real estate market. It expects to regulate how idiots pretending to be investors (and even some builders), escape from their failed decisions. They want to remove responsibility for their choices and accountability to their creditors for making bad investment decisions.
Stock market or real estate market. Different market, same concept. Except, in the paper markets, there are ways to hedge each position.
In real estate, If you walk away, you walked away. The hedge actually, is not carrying a mortgage you cannot afford and did not intend to support. The intent of most of these investors (speculators) was to resell. Not to hold. So now, they simply are choosing to cut their losses. 6+ years of inventory!
Who among these speculators want a piece of that!?! Specially with now overvalued properties which are now worth less than they’d have to carry in financing for some 5-10 years before they can recover and earn what they might have expected to earn in 2-3 years.
You, Mr. Lechuga, keep your chin up. I hope that blogger who wrote about a team of lawyers who were taking a look at your case to defend you really put their money where their mouth is.
If this developer gets away with this, it affects EVERY blogger out there and everyone who issues an opinion (and yes, that blogger who suggested we all write a disclaimer may not be too far from reality).
I loved that link pointing to your welcoming to EWM. Obviously, not only did they know and post about it, their interview with you during the hiring process had a lot to do with this, and I’m sure that can also be documented.
What if?…Just…what if Mr. Buffett were to drop EWM for hiring you knowing about your blogging and the risks (?!?!?!) involved, like EWM dropped you for offering an opinion in a blog they sanctioned by hiring you AND your blog!? How would they like THEM APPLES?!
The developer already made that connection and it is therefore, suing you both. Wouldn’t that be a shame for EWM? What if Christies drops their affiliation as well? After all, they may not want to be affiliated with a company being sued for $25M and undergoing so much chatter on the internet, would they?
Also, will this suit actually open a can of worms for all developers who may be innocent bystanders but