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Robt. Toll " "You're gonna kick yourself for not scooping up all those condos in Florida"

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SoCalDem Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Dec-03-07 09:43 AM
Original message
Robt. Toll " "You're gonna kick yourself for not scooping up all those condos in Florida"
Edited on Mon Dec-03-07 09:43 AM by SoCalDem
and the audience : "har-har-har"..:grr:

Cspan1.. housing conference on now.. Of course the "experts" are all advising that we "learn from the experience and...wait for it


wait for it





wait for it....



"move forward"..

and also puts a lot of blame on the "poor schmoo" who bought a house, and can;t afford it..

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madokie Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Dec-03-07 09:50 AM
Response to Original message
1. a few years ago it was real tempting to buy up and out of our means
thankfully we didn't:scared: maybe we did and we don't realize it yet
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monmouth Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Dec-03-07 09:51 AM
Response to Original message
2. No problem buying the condo but if the building the condo is in
goes bankrupt, big problems. I'm in downtown West Palm Beach, empty buildings, very few condo owners here. The domino effect is hitting all of the businesses from interior decorators to restaurants, building suppliers, etc. Levitt just filed in Pt. St. Lucie and left a lot of people out to dry. Very sad..
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SoCalDem Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Dec-03-07 09:55 AM
Response to Reply #2
4. yep.. they just fold up their tent and go home and the people who "bought"
have to keep paying and or spend more money trying to hunt them down and sue them//

My friend is in just such a situation for a timeshare thing they bought into in SanDiego.. They have been paying on it for over a year, and it's nowhere NEAR finished, and the whole project may stay that way now.... but they are still on the hook or they lose what they have into it already..
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gratuitous Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Dec-03-07 09:55 AM
Response to Original message
3. Reminds me of Rockefeller encouraging investment in 1929
After the stock market crash in 1929, John Rockefeller was encouraging folks that now was a great time to invest. Some wag (Will Rogers?) suggested that of course Rockefeller was advocating for investment: He was the only guy who had any money anymore.

So, check under the mattresses, folks. You, too, could buy a Florida condo now that the absurdly overpriced properties are getting reeled back to some semblance of reality. Sucks, though, if you foolishly spent your money on a condo last year. Didn't you read that small print on the graph of condo values? "Past performance is not a guarantor of future appreciation." See? It was right there, in pale yellow-and-white. Didn't see it? Got slick-talked by the salesperson? Well, fuck you, your money's gone, as is the company that bilked you out of it. Too bad, so sad.
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n2doc Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Dec-03-07 09:56 AM
Response to Original message
5. And when south Florida is flooded by sea level rise and flattened by hurricanes
"You are gonna kick yourself for having bought one!"

These people have no shame. Of course I am sure Mr. Toll is a big big repuke contributor, so par for the course...
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monmouth Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Dec-03-07 10:04 AM
Response to Reply #5
6. And Toll is one of the biggest developers in the nation (Toll Homes)..n/t
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cloudbase Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Dec-03-07 10:35 AM
Response to Original message
7. While you can buy 'em up at fire sale prices,
good luck getting insurance at an affordable, or in some cases, any cost.
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flashl Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Dec-03-07 11:02 AM
Response to Original message
8. Or missing the opportunity of the ...
HIGH YIELDING government issued tax lien certificates and tax forfeited real estate

Florida has 67 counties. It is a tax certificate sales states. This simply means that tax certificates representing tax liens on properties which are delinquent for nonpayment of taxes are sold to the public or bid in by the county in cases where there are no bidders. The rate of interest payable to a certificate holder is l-l/2% per month which translates to 18% annual interest. This is slightly more than banks and savings and loan associations are presently paying on certificates of deposit. There are probably more tax certificates sold in the State of Florida than in any other jurisdiction of the United States. Some counties have as many as 5000 delinquencies per year.

These jealously guarded secrets revealed by an expert with over 30 years experience in this incredible and exciting business.


Florida's ebay-like tax forfeited real estate bonanza.
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SoCalDem Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Dec-03-07 01:00 PM
Response to Reply #8
9. How uniquely American... Trafficking & profiting from other people's misery
and doing it blatantly and gleefully :puke:
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raccoon Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Dec-03-07 01:42 PM
Response to Original message
10. Can you get insurance on those condos in Florida? I understand some
homeowners in hurricane-prone areas are having problems with that.
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