There is very sketchy information about what occurred between DR Horton and Hank Haney other then DR Horton backed out of the deal at the last minute, presumably due to the latest reports of real estate sales cooling off across the country. Not only does Haney have a course that looks like a war zone and is estimated to cost $1,000,000 to become operational again, there is a BIG tax issue. The Collin CAD raised the market value of the Hank Haney Golf Ranch from $3,341,400 in 2005 to $5,314,000 in 2006. The property taxes paid in 2005 were $85,000 and the 2006 tax bill is $131,000. The CAD had to know of the pending sale, which was reported to be $5,600,000 and raised the assessed value based on the report, or possibly a contract was presented during the appeal process to the appraisal district. According to the articles I have seen, Haney’s revenue from the golfing fees was between $100,000-$125,000 a month. If that was the case, the Ranch as a running business had revenues in excess of $1,300,000 a year, which would indicate a value of $8,000,000-$10,000,000 for his company. Due to the location, the highest and best use for the Ranch would be vacant land to be developed, yet at the proposed sale price of $5,600,000 that would equate to over $100,000 an acre, which seems to be very high for such a large tract. The Story Book Ranch, which is the other large tract near Haney’s is a total of 18.50 acres and is currently assessed at $88,000 an acre. For what it is worth, this whole deal is a BIG mess for Haney; I hope he has a good Lawyer on retainer.