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Non-Tech : Investing in Real Estate - Creative Opportunities -- Ignore unavailable to you. Want to Upgrade?

To: John Vosilla who wrote (1969)	11/8/2013 7:19:42 AM
From: MoneyPenny	Read Replies (1) \| Respond to of 2722

thanks John. I never sold real estate but as a high end interior designer, first in the Detroit area and then in SW Florida, I was always privy to the latest excesses. For instance, in 2003 and 4, property boom in SW Florida, WCI had a gulf front tower in the prestigious Pelican Bay that had been sold preconstruction primarily to investors. I had 14 of these units in Montinero (I acually can't remember the name) for one of these investors...doing the build-out (many towers did not do the interior finishing, leaving it to designers such as myself). Interior build outs and furnishings would be 180 to 400k depending on unit view. I was happy to make commission on these albatrosses. When I left Robb & Stucky in 2005 to work directly for a developer, they were still on the market. This was a clear indication of high end reaching its max. It is game on in SW Florida again. I live in a very modest "villa" . Several are on the market in the past month due to aging residents...they are selling in days or 2 wks at the most. About 5 blocks from me, the home just sold: sunsetmanorestate.com ok house, crappy location on the river as it is surrounded by mediocre houses and less. This home would be at least 12M on Captiva or in Naples, maybe Barefoot Beach in Bonita Springs.