"Inside a high-end real estate deal gone bad"

E. Scott Reckard offers a glimpse into the inner workings of a high-end real estate deal gone terribly awry (and to court): Rancho Santa Fe's The Bridges.

Lennar, the venture's main financier and manager, says it lost $50 million on the Bridges in spite of the custom-built mansions and expensive tract homes gracing its hillsides. Sales soared during the housing boom, but by 2009 the company was moving only one home every two months, San Diego real estate consultant Russell Valone said.