The Daily Soak - October 20

HousingBath Won't Slow The Party on Fisher Island

Talk about recession-proof...the recent gains in appreciation and median sales prices makes you think Miami's private island enclave might even be depression-proof. CBS4 gets exclusive access to the island and gives us schlubs on the mainland a glimpse of the good life. The average sales price on the island has risen $525,000 this year alone, and the median sales price of a Fisher Island residence rose to $3.85 million. Some athletes and celebrities who have bought on Fisher Island in the past include Andre Agassi, Boris Becker, Ricky Martin, Julia Roberts and Oprah Winfrey. (Video)


60 Bank-owned Homes to Be Auctioned in Orlando

Texas auctioneer Hudson & Marshall will hold an auction of, what they describe as, 60 upscale bank-owned homes, on October 26th at 1:00pm at the Florida Hotel and Conference Center. The homes appear to be scattered throughout several Central Florida communities, many of them gated. Dave Webb of Hudson & Marshall says most of the homes in next Sunday's auction are move-in ready. As an added incentive, interested buyers have 45 days to close and will only need to put down $1,000 in earnest money for most of these homes. More information including directions to the auction can be found on the H&M website.


Stop Paying Your Mortgage...Send Us The Money Instead

Is there anything worse than getting a call from a telemarketer? Most people hang up immediately. But one Fort Lauderdale company had a sales pitch that was music to hundreds of Florida homeowners' ears: "Stop paying your mortgage." With this alleged scam, the Florida Attorney General's Office says Outreach Housing has put 600 struggling Florida homeowners even deeper in debt. The company told homeowners not to pay their mortgage and instead send that money to Outreach which would hire attorneys to work with the lender to reduce the homeowners' debt. Outreach released a statement saying the Company has done nothing wrong.