Sold for $380,200, now appraised at $...

Sold for $380,200, now appraised at $125,000: Investors helped ...

There are 184 comments on the Orlando Sentinel story from Aug 17, 2008, titled Sold for $380,200, now appraised at $125,000: Investors helped .... In it, Orlando Sentinel reports that:

A couple of years ago, real-estate investors were so hot on Orlando that hundreds of buyers from around the world paid an average $300,000 -- triple today's prices -- for old condos on a run-down corner next to ...

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“American Against Fascism”

Since: Apr 08

Central Florida

#1 Aug 17, 2008
Sure looks like an awful lot of people have to learn some things the hard way.
maddog

Kissimmee, FL

#2 Aug 17, 2008
I find it typical of the day in which we live that some of the investors are suing. No one was forced into buying these properties. The plain truth is that these people thought they could make an easy buck and got burned. I concur with the previous post.
Richard

Orlando, FL

#3 Aug 17, 2008
This is one hilarious article. I am going to save this article to cheer me up on rainy days. It is just so damn funny. We need mor efool slike this to pump tax money into our economy. Thank you out of state investors.
happy

Mount Dora, FL

#4 Aug 17, 2008
It is amazing how many stupid, greedy, unscrupulous people there are in this country. Which group do you blame first, the slimy greedy real estate agents, the slimy greedy mortgage brokers, the slimy greedy bankers, or the slimy greedy investors. And now all these people who were so willing to screw over everybody for a quick buck have convinced our government that it wasn't there fault and they need a bail out. Oh how quickly I forget, the government is also full of slimy greedy people. Thank God we are a country founded on strong Christian Judaic principles!
old cracker

Titusville, FL

#5 Aug 17, 2008
GREED on all parties involved and I have no pity at all for them
The Original Sam

San Antonio, TX

#6 Aug 17, 2008
__________

Such hard-luck investor stories echo throughout Central Florida.
__________

Not as much hard-luck as greed, pure and simple.
crime map

Port Orange, FL

#7 Aug 17, 2008
Richard wrote:
This is one hilarious article. I am going to save this article to cheer me up on rainy days. It is just so damn funny. We need mor efool slike this to pump tax money into our economy. Thank you out of state investors.
Why would someone else's pain make YOU feel happy? Perhaps you've made some bad investments and are happy to see you aren't the only idiot?

And good job making fun of out of state investors. You should be on your knees praying they come back to town so YOUR property value doesn't go completely in the crapper and YOU have to pay for the taxes you so gleefully think someone else is paying.

Boggles the mind...
brilliant observation

Apex, NC

#8 Aug 17, 2008
Seems like everything worked out well for the guys who developed and sold the condos.

Gotta love an American success story.
MY Opinion

Shreveport, LA

#9 Aug 17, 2008
Some time you get the Bull and some times the Bull gets you.
That is the ups and downs of life.
Safe Driver

Christmas, FL

#10 Aug 17, 2008
The people who bought these things as investments thought they were going to get an easy profit. Now they find they're losing their pants.

Somewhere along the way, these people forgot that they were never guaranteed any sort of profit to begin with. They made a gamble, they lost it. That's really not the rest of the world's problem.

I'm trying to garner some sympathy for them, but in fact, their clutching after some way to profit from their lousy decisions is affecting the ultimate profit from my investments, mostly 401k, bond, and stock investments.

“Dare to be stupid!”

Since: Dec 06

Groveland, Florida

#11 Aug 17, 2008
Anyone that invests their life savings on property sight unseen at age 67 is STUPID!.
You never ever invest more than you can afford to loose. Stupid investments are what you do in our 30's not 60's.
Bill the Cat

Orlando, FL

#12 Aug 17, 2008
Dumb, Stupid, or Foolish. Take your pick, investors; which one of them defines you best???

“I hate stupidity & ignorance”

Since: Oct 07

America

#13 Aug 17, 2008
"The sales pitch
The story of how Orlando became a hot commodity for investors centers on developers marketing new properties to buyers across the country with promises of fast cash and rising real-estate prices."

A figment of their imagination turned into a story to sell overpriced homes and condos and the believed it bought into it. Sounds all too familiar.
Citizen Cane sez

Lake Mary, FL

#14 Aug 17, 2008
there's a sucker born every minute.

“I hate stupidity & ignorance”

Since: Oct 07

America

#15 Aug 17, 2008
garym1a2 wrote:
Anyone that invests their life savings on property sight unseen at age 67 is STUPID!.
You never ever invest more than you can afford to loose. Stupid investments are what you do in our 30's not 60's.
I guess he thought he was in Vegas.
Greg Bell

Winter Park, FL

#16 Aug 17, 2008
Anyone that would buy an apartment conversion gets exactly what they deserve.

“I hate stupidity & ignorance”

Since: Oct 07

America

#17 Aug 17, 2008
Bill the Cat wrote:
Dumb, Stupid, or Foolish. Take your pick, investors; which one of them defines you best???
They are all the above and you should include "Sucker"
LostHope

Winter Haven, FL

#18 Aug 17, 2008
happy wrote:
It is amazing how many stupid, greedy, unscrupulous people there are in this country. Which group do you blame first, the slimy greedy real estate agents, the slimy greedy mortgage brokers, the slimy greedy bankers, or the slimy greedy investors. And now all these people who were so willing to **** over everybody for a quick buck have convinced our government that it wasn't there fault and they need a bail out. Oh how quickly I forget, the government is also full of slimy greedy people. Thank God we are a country founded on strong Christian Judaic principles!
Well, we were founded by semi-religious people. But in our great world of increasing "wisdom" we have rejected our core values and moved over to rely on market factors and demand and supply to be our moral compass. God help us all.
Hello

United States

#19 Aug 17, 2008
So, who approved all these condo conversions and new home subdivisions??
LostHope

Winter Haven, FL

#20 Aug 17, 2008
MY Opinion wrote:
Some time you get the Bull and some times the Bull gets you.
That is the ups and downs of life.
I must disagree. This is America. Here lately, whether you get got, or you get over, there is always Bull in there somewhere. We have almost figured out how to package and can Bull by now. You watch, in another couple years you'll be able to get your Bull in either stick form, or in a non-breakable squeeze bottle.

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