Foreclosures and Expletives
May 20th, 2009 | categories: Coconut Grove Real Estate
Today a foreclosure came on the market in the South Grove at 3690 Stewart Avenue, priced at $924,900 (pictures above). There is 4,634 square feet of living space with 5 bedrooms and 4 baths on a 13,950 square foot lot with a pool. I went to check it out immediately, the bank needs to reduce it about $200,000. The house is a complete disaster inside and needs about $250,000 worth of work. The owners started renovations and then stopped. In 2005 it sold for $2,100,000 and 4 months later it resold for $2,900,000. It was obviously a case of mortgage fraud. With so much square footage in a great gated community, the house has potential if it could be bought for the right price. Broker is Miami Realty Group.
On another note, I got an interesting email from a reader today about my first video blog. I think it went something along the lines of “blah-blah-blah” and “I’d rather #!@!$%$ than watch this video”. Maybe he’s just bitter about the state of our market, or maybe it was just me. Either way, I will forge ahead with my video blogs, as I think that in this fast paced world people would rather listen to a 1 minute video clip than read line after line of text.
Well, no one’s forcing anyone to read or watch anything. Thanks for the always helpful info.
Linda
Never mind the jerk Riley, some people just have the need to project their negativity towards others to make up for their insecurities.
The video clips are a nice addition to this very informative blog – you offer a great service to our community that myself and many others enjoy reading.
I know that house. They had it listed as a Foreclosure 2 years ago. When I saw it it was clear it had been a case of mortgage fraud.