Modern-Day Bonnie & Clyde: Former Maid Turned Millionaire
Of all the rags to riches to rags stories I've read from the housing boom to the current bath, this has to be one of the most unbelievable. A pregnant, high school drop-out at age 15 named Eve Mazzarella gets pregnant again and is living on welfare at age 20. She then moves to Vegas, starts a successful cleaning service, and then gets her real estate license. She racks up almost $14 million in sales in 2006 and is named to NAR's coveted "30 Under 30." But the good life came to a screeching, guns-drawn, front door-smashing FBI halt in March. It turns out Mazzarella and her husband are wanted on 13 counts of bank fraud tied to 227 properties they bought worth $107 million using straw buyers.
Chicago Bank Bet Big On Florida Real Estate...and Lost
Corus Bank just released third-quarter earnings, and the news was not pretty for owners of the Chicago bank's stock. According to the South Florida Business Journal, "Half of Corus Bank's condo loans in South Florida were either in arrears by at least 90 days or had unfavorable prospects for repayment in the third quarter, including one unspecified project that the bank intends to foreclose on." Corus holds $1.38 billion in loans on 18 condo and condo conversion projects in South Florida including large notes on Jade Ocean Condominiums in Sunny Isles Beach (pictured), Paramount Bay in Miami, The Mint at Riverfront in Miami, Trump International Tower in Fort Lauderdale, The Ivy in Miami, Artech Residences at Aventura, Tao in Sunrise, the Caribbean Miami Beach and Edge Condominium in West Palm Beach.
Hola...Bienvenidos A Florida Y El HousingBaño! 
Coldwell Banker just announced plans to roll out more Spanish-language tools and features for interested buyers. Casa Coldwell Banker will officially launch today, and the move by Coldwell reflects the shifting demographics in both Florida and the U.S. The Hispanic population in Florida surged a whopping 70% over the last decade and 47 of Florida's 67 counties reported at least a doubling of Hispanic residents. Looking forward, U.S. Hispanics are projected to account for 40% of all first-time homebuyers over the next 20 years. Such statistics validate the move by Coldwell as "muy inteligente."
Have a safe and sudsy Halloween everyone. -HBC
Friday, October 31, 2008
The Daily Soak - October 31
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2 comments:
Hi, I happened to live right next to Jade Ocean and happened to be a real estate broker. No one had lost anything on that building yet because it hasn't been finished yet. The building is one of a kind all glass oceanfront condo right accross the street from major shopping plaza and the new Epicure store. Those who will weather out the storm will see shart rises in prices in the very near future.
Sunny Isles Beach real estate is some of the most sought after real estate in Florida!
Please please ...
Where do I sign and who do I cut the check to? I am a wealthy European and I will outbid everyone in the room!
If investing $100K down can earn you million dollars in 5 to 10 years - why don't you and rest of the realtors do it?
You people are loaded with cash from all those high commissions you got in past 8 years.
Or - are you trying to unload your own investments? If you are giving financial advise to others - I would expect you to be 100% invested in that building. Otherwise you are just a used car salesman (sorry used car salesperson! I do not mean to insult you with this comparision)
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