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You Are Discussing: real estate scam in south venice, florida???

timothy a. paszko
South Venice, Florida
2006-08-24 19:11:10

After looking at rather inflated prices houses in south venice,florida i, and others have come to the conclusion that real estate "flippers" are jacking up prices artificially! it's so bad that they must use realitors in tampa, florida! no local realitors who know the actual values here! we have decided to form an unofficial "buyers bloc". no real estate transactions in south venice until prices reflect reality! we look but don't buy!

one house is $200000 overvalued! it is listed in the property appraiser's records as $800000! we say "no!' to paying buyers "flippers premiums"!

august 25, 2006 venice hearld-tribune said, in effect, real estate in south venice tanks big time in july! our "no buy" strategy is working!!! please join us!!

Damon Runyon
Bayonet Point, Florida
2006-08-28 17:51:48

this problem is not just confined to Sout Venice, It is also located in Englewood, Rotonda West, Parts of Port Charlotte and North Port. I'm in real estate and find the problem discussing. I am moving to Hudson.

timothy a. paszko
South Venice, Florida
2006-08-31 19:03:15

i am sorry that you have to leave. i hope you find greener pastures elsewhere.

Damon Runyon
Bayonet Point, Florida
2006-09-01 14:05:53

Thank you for that. I have six very good years in Englewood and Port Charlotte starting three subdivisions. Was able to have three assistence. I'm in Oregon right now planning to go back to Sarasota or Hudson. Damon

Lakeland, Florida
2006-09-16 17:34:04

Is it a scam if one does not perform there due deligence?
With all the help on line like Zillow and several others, any that buys a property that unrealistically high shouldnt be signing contracts. I am one for the people and I do not want to see anyone get taken advantage of and I see the marks up everyday, is it business or is it greed I ask myself. Even as a lender on hard money deals I help my buyers by saving them thousands of dollarss and avoid every possible high interest rate out there.

For the viewers, if you want to know about your homes value or if you are concerned. Go www.zillow.com or go online to your county property appraisers site and do your tax roll and caomparables. Its all common sense, I have been in this market a very long time. I have not met a deal yet that we have closed on that we couldnt sleep at night with and look at my buyers children and family and regret again and again. Just be smart and take the time to research, if someone rushes you. Tell your not interested.
Good luck to all...

Doral Informer
Doral, Florida
2006-09-18 10:31:47

This phenomenon is by no means isolated in Florida. The so-called "real estate boom", which was a national phenomenon, was multiplied in South Florida several times over. A number of factors, both domestic and international gave rise to the over-heated real estate market. The economy was doing well, interest rates kept lowering, the advent of very aggressive "creative financing," a wave of foreign investor capital and a South Florida housing shortage all combined to create many attractive investment opportunities. When you add to this the high level of "ethically challenged" realtors and mortgage brokers in the South Florida market in particular, you have situations like the one described in this forum.

Investors are in business to make money. As Investor points out, it behooves someone who is planning to investr substantial money in real estate, to inform him/herself before making a purchase so that they will not be dependent on the information provided by those who have an interest in selling them an overpriced property but will know when the information they are getting is inaccurate or overstated. That is not to say that if a person is victimized by an unscrupulous "professional" in the real estate market, it is his or her own fault. Only that it is good practice to be actively involved and informed so that you can be an "educated consumer."

Investors are not necessarily concerned about the effects of their investment decisions on the community where they are investing. They don't reside there (neither do, for the most part, the developers, realtors, mortgage brokers, bankers, appraisers) so those effects will not be felt by them directly. It is up to local public officials, if they have the political will, to see to it that the interests of investors, developers and the community are maintained in a balance and that local communities are not overrun with high-density development projects that may result worsened local the traffic conditions and severely overcrowded public schools among other deleterious effects. Public officials respond to numbers and a significant turn out at a public zoning hearing can be crucial to the deicison by local officials to approve or disapprove a project.

timothy a. paszko
South Venice, Florida
2006-09-27 18:49:14

i thank you all for your responses. they are excellent. however, i would like to turn attention to issues of crime, service providing, and friendliness of the population. during season, when it is the best time to sell a home, crime is up, service can be bad, and the standoffishness of South Venice residents is appalling.

many people would be suprised at the number of crimes that go on from 12:00am to 3am! there are a number of traffic stops, and incidents at nightspots can be numerous.

as far as service goes, i've had incidents of getting the wrong pizzas, failing to get a plain cheeseburger as ordered, and who could forget the department store clerks who "can't remember the store layout"(they could out of season!), and cashiers that feel that ringing up your order is an imposition!

Both in and out of season, i have not seen too many friendly South Venitians! most tend to treat people as if they are persona non grata! this has gone on for 11 years! this is the first time that i have brought up the issue.

any thoughts out there as to what the problem(s) could be?

these issues also play a part in home purchases.

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