Don't Let the Sun (City Center Prices) Go Down On Me
Quick...pop quiz...which of these two couples is truly happy? A or B? Well, it's a trick question, because the answer is "Both." You see Couple A are just two models pimping a retirement community they don't live in, and looking that good at 60 is something to celebrate. Now Couple B, Heidi and Harry Oelgart, are definitely not models, but they did just buy a house for $130,000 less than it was listed for 2 years ago. The St. Pete Times reports that sales are up in Sun City Center thanks to aggressive price slashing; some condos are reportedly going for as little as $37,000. These price reductions are good news for everyone except desperate sellers and the original developer, WCI. While the Oelgarts picked up their 3 bedroom dream home for $345,000, WCI is trying to sell homes in the same neighborhood for almost $500,000. That news should help the stock price.
HB.com reported yesterday on the 42 year-old woman auctioning off herself and her home on eBay, and some train wrecks demand a second look. Deven Traboscia invites NBC in for a heart-to-heart confession on her white leather sofa. In the interview, she repeatedly uses words like "fairy tale" and "Prince Charming" to give this lame attempt to unload her house an air of dignity and innocence. Never mind the fact that she is inviting a total stranger to come live with her and her two daughters. Traboscia says she is targeting European men because,"The men there are very captivating (Translation: stupid); they're very vibrant (Translation: desperate)." Apparently some Internet stalker named Claudio is planning to fly over from Italy to check out the goods. Fortunately for Cinderella, he's dreamy. (VideoLink)
Fort Lauderdale's New River Marina is going on the auction block after 15 years of business, and the timing could not be much worse for the current owners, Mary & Bob Wickham. Financial problems started in 2000 when the construction of a new luxury condominium, The Falls at Marina Bay, interrupted access to New River's dry dock facility. And during the current economic slump, fewer boaters are hitting the water and bringing their boats in for costly repairs. The marina was valued at $21 million in 2006, and the Wickhams, who filed Chapter 11 bankruptcy last year, still owe $13 million to their creditors. There is still one ray of hope: the auction can be avoided if an investor steps forth between now and the scheduled July 17 auction date.
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