Ricky Martin’s Former Mansion In Beverly Hills Listed For $26.9M

August 31, 2009
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Ricky Martin has purchased a mansion in Beverly Hills, California last 2004 for as much as $10,900,000.00 and eventually sold it in 2006 for $15,000,000.00. This same mansion is being listed once again this year by its current owner who is a CEO in the energy industry. The said CEO has listed this mansion for $26,900,000.00.

This former mansion of Ricky Martin is located at 1309 Davies Drive Beverly Hills postal district. Aside from its massive dimensions, this mansion was also reported to include a rich history. Before the current mansion was built, a 9,000 square foot mid century house once stood on the same site and it was said to…

Mortgage Officer To Be Sentenced In October For Cash Back Mortgage Fraud

August 31, 2009
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Last week, Jake David Whitman, a mortgage officer, has pled guilty to the charges thrown on him regarding the seven counts of bank fraud and the conspiracy to commit bank fraud. He admitted the leadership role in the conspiracy that involves a total of 19 properties in Phoenix.

The intention of the said conspiracy is to acquire mortgage loans for properties that are hundreds thousands of dollars larger than its actual value. Whitman owns ten of the said properties and since he has been working as a branch manager of Academy Mortgage, a mortgage broker, he was able to process the loans through this company. Whitman is also responsible for recruiting…

Cash Laden Investors Purchase Condo Units In Bulk From Bankrupt Developers In Florida

August 31, 2009
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Investors once again start to come out and spend millions of their money to buy beach front condominium units in the Sunshine state, Florida. This time, they are much wiser as they invest their money by purchasing several units instead of just one luxury unit.

Lumber Liquidators was reported to purchase 51 condo units in One Bal Harbour complex from a developer who’s facing bankruptcy. Affected by the recession, the developer was forced to sell the units in Miami for a much lower price just to avoid bankruptcy. The investors grabbed the opportunity seeing that it will be a good investment in the future. They are planning to hold it and…

Brad Sherwood Relisting His House In Encino Area, Los Angeles For $3,595,000.00

August 30, 2009
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Brad Sherwood, a known actor, was reported to have his house in Los Angeles Encino area listed last year for about $4,000,000.00 and just last month, he has once again re-listed the said four bedroom house for as much as $3,595,000.00.

This $3,595,000.00 house was built in 1962 and measures about 3,348 square feet and stands on a 1.151 acre lot. This house was purchased by Sherwood and his wife Se’ana for $3,350,000.00 on November 2006. The house is also built with several attractions including a viewing deck, a spacious walk in closet, master suite with fireplace, walls of grass, large family room, kitchen with granite countertops and stainless steel appliances,…

China Investment Corporation About To Purchase Mortgage Backed Securities In U.S. For $2 Billion

August 30, 2009
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Almost every part of the world today is experiencing a recession and we all know that U.S., especially their real estate market, is one of the most affected. However, there are still investments coming in for them including the one from China Investment Corporation.

As an investor, you would surely want to put your money in a venture that will be profitable and that’s what China Investment Corporation expects as they are planning to purchase 2 billion dollars worth of mortgage backed securities. U.S. is currently experiencing a recession but this investment just proves that U.S. real estate is still one of the better investments worldwide.

This also proves that the world…

Real Estate Agent Sentenced For A Fraudulent Investment Scheme

August 30, 2009
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If you are planning to invest on a real estate, you should take some precautions especially if you’re dealing with real estate agents like Veronica Sanchez Gallegos who pled guilty on several counts of felony charges in relation to her fraudulent investment scheme.

Veronica Sanchez Gallegos has pled guilty on August 6, 2009 for defrauding six victims including a 65 year old elder. It was reported that she was able to get a total of $1,289,000.00 from these victims where five of them have invested $40,000.00 to $622,000.00 while the elder invested almost all of her savings that amounts to $244,000.00. All of these victims are expecting a good return from…

Miami Condo Market Getting Back In Business After Facing Bumps On The Road

August 27, 2009
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The Miami Condo market has faced some really tough problems especially with regards to selling their units. But over the past few weeks, it seemed like they are sailing smoothly despite of the recession that we are all facing right now.

As a matter of fact, there are reports saying that condominium units are selling like hotcakes like what just happened to Brickell on the River who have sold out all their 120 condo units in just a matter of six weeks. It’s almost like selling the whole building and no one has done it for the past three years. They were also astounded by the fact that more and more…

David Hasselhoof Re-lists His Mansion In Encino, Los Angeles For $4,195,000.00

August 27, 2009
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Aside from being famous for his role in the series “Baywatch”, David Hasselhoff is also popular for having one of the best houses in one the most celebrity-concentrated areas of Encino. However, he has already listed this house earlier this year and recently re-listed it for a much lower price.

Hasselhoff’s house was originally built in 1988 and he purchased it for as much as $1,980,000.00 in 1996 from another actor named as John Goodman. After listing this house earlier this year for as high as $5,950,000.00 he has lowered its price to $4,195,000.00. This house features several rooms including a master suite with fireplace and two separate baths, an office,…

Real Estate Agent Sentenced For Conspiracy Defrauding Mortgage Lenders

August 27, 2009
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A licensed real estate agent was recently sentenced for his involvement in a scheme that deceives mortgage lenders. This real estate agent is named as Oyekunle Ikudayisi and he will be spending six months of his life in prison and another six months in home detention.

If you think six months imprisonment and six months home detention is not enough, well, it will still be followed by a three year supervised release to make sure that he’s not going to make the same offense again. Ikudayisi has pleaded guilty to the charges that were thrown to him and admitted that he has conspired with others to purchase some properties from his…