Mortgage Fraud on Marco Island Makes NY Times Headline

Just what every Marco Island Resident doesn't want to see. Another negative headline involving Marco Island. Recently I wrote about the Madeira and now this NY Times Headline today... There are 15 homes on Marco Island that are involved in this Federal Inditement filed in United States District Court according to the Marco News.

Read Also the Article in the Marco News which has a rather lively debate going on.

Mortgage Fraud hurts real people and it is scary to think that Florida leads the nation in this crime. Marco Island properties are part of Federal prosecutors indictment of 31 people in connection with a mortgage fraud scheme involving at least 28 properties in South Florida and fraudulent loans totaling more than $14.2 million.

You have to wonder how many homes on Marco Island have been affected by these Mortgage Fraud schemes. First there was fraud with the values going up, now there is fraud with the price correction that the area is experiencing. Marco Island borrowers can protect themselves -- as long as they know the warning signs and resist the temptation to bend the rules.

Just remember Marco Island if it sounds too good to be true, it probably is.

So what is Mortgage Fraud? Well to help educated the public Freddie Mac recently released a great video helping to explain it.

Related Articles and Resources:

Realtor Fraud
How mortgage fraud costs you
Avoiding Mortgage Fraud
About Mortgage Fraud
Mortgage Fraud 101
Mortgage Fraud Affects Many
Massive $14 million real estate scam linked to SWFL
31 Indicted in Home Load Fraud



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May Your Marco Island Home be filled with family today!

Happy Thanksgiving!

May your Marco Island Home be filled with Friends and Family today!

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From the writers of Marco Island Real Estate

Colleen Kulikowski, Carolyn A. Rzaca and David A. Podgursky

Marco Island Real Estate News - The Madeira

I got a very interesting Google Alert this morning about Marco Island entitled The memory, it gets fuzzy in the heat reported by John Kass of the Chicago Tribune.

It caught my attention with the reference to a Penthouse on Marco Island, so I had to click and read. Then I read the article and thought, now this is an interesting tale of corruption. Better than some of the intrigue we see on TV these days. And all around the latest jewel in the Marco Island crown -- The Madeira. This is an interesting reading for Marco Island residents...

For those of you not familiar with The Madeira, on Marco Island was completed in October 2006. Situated in the center of Marco Island's Crescent Beach of sugar sand as you can see from this Aerial View of the Madeira. This European designed condo has 101 Residences ranging from 2,631 up to 6,500 square feet. Exclusive Living is an understatement.

• The beach level has 7 residences with expanded garden terrace and stairs directly down to the beach.
• There are 8 units per floor for the 1st 10 levels, then 4 units per floor as it cascades up with the Estate Residences and then topped off with 2 Penthouse level units. This is a far cry from the very first condo that was built on Marco Island Beaches - Emerald Beach.

For the residents of The Madeira, there is the Madeira Pavilion filled with amenities including:

• movie theater
• fitness center
• Full service Spa
• tennis courts
• resort-style pool
• Social Room
• And the residents can elect to join an Ambassador Membership at The Marco Island Marriott Spa and the Rookery Bay Golf Club.

It appears that Marco Island appeals to everyone!



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Marco Island Real Estate News

Marco law limiting boat anchoring struck down by Collier judge Is this another case of a local government trying regulate for a few at the expense of the majority? State statute supercedes city and county ordinances. Wonder how much this cost the Marco Taxpayers?

Have you ever checked out the Economic Development Council's Website for Collier County? It is full of information as to what is happening in Collier County. Did you know that Collier County's population is going to increase by 35% by 2010? That it is the 7th fastest growing metropolitan area in the country? That is a huge surge in population. Wonder what impact that will have on housing prices? Check out their 2006-2007 Market Facts Report for more information.

How do you feel about Bill Moss getting the Naples City Manager Job? So Bill Moss is leaving his position as City Manager of Marco Island and heading over to Naples. So the Marco News had a poll to see how people feel about this. 41% of those that voted as of this writing think it is a good thing for Marco. See the Results:

How do you feel about Bill Moss getting the Naples city manager job?

Recent Real Estate News about Marco Island:

• Marco Island Florida Mortgage Builders Focus on Value
• Wake Up Call for Marco Island Real Estate!
• Getting Ready to Sell Your Marco Island Home - Removing Smoke Smell
• How Marco Island Sellers Can Prevent Making Costly Selling Mistakes
• Enterprise Construction files for Chapter 11
• Villa Venezia on Marco Island Sells for Record Amount!

Wake Up Call for Marco Island Real Estate!

Attention Marco Island Buyers and Sellers!

There are some general rules that if you follow when making a decision to buy or sell Real Estate in the Marco Island Florida that you use to ensure that you make a sound decision.

What do we mean by this? Well let's look at a few statements:

"I am not going to take a $x,000 loss on my Marco Island Florida home!"
"I am not giving my Marco Island Florida home away!"
"I don't want to buy until the absolute bottom of the market"

These are things to think about when you are trying to decide if now is a good time to purchase a Marco Island Florida home or sell your Marco Island Florida home:

SOLD Highest Price LEAST Amount of Days on the Market

Take off the rose colored glasses! You need to look at what is really going on in the market. Not what you think is going on, but what really is! Look at what has sold recently and what is on the market. Make sure that you are the best property in the bottom 25% of those listed.

Get with the times!

Marco Island Seller's tend to be 6 months behind what is going on in the market. So make sure that you always look at where the Marco Island Florida market is headed, not where it has been.

Reality Check on Marco Island Real Estate

Been on the market for 3 months with no activity? Cut your asking price and get your Marco Island Florida home SOLD! Take it off the market if you are not going to be realistic on the price! Half the problem right now is all the people who think that their house is so special that someone will come along and pay your over-inflated asking price. Believe that I have the Brooklyn Bridge for sale too!


Have a Plan!

It doesn't matter if you are buying or selling Real Estate in the Marco Island Florida area, make sure that you plan for the worst case scenario. Can you really afford to purchase a Marco Island home now? Are you stretching beyond your means?

Get off the Fence!

Buyers stop waiting for the market "to hit bottom"! Well think about the possibility that you could end up having to purchase less of a house because interest rates go up when you perceive that the market has hit the bottom. If you are qualified, ready and able, plan on keeping your home 4 or more years – it is time to get off the fence and purchase that Marco Island home!


I know the Marco Island Real Estate Market is not as pretty without those Rose Colored Glasses, but their is still gold at the end of the rainbow. Just not as much as before.... You just have to be looking in the right places!