I received the following comment this morning on my blog. To Anonymous, I EMPATHIZE with you. While I did consider going to law school and even took my LSAT entry test, I am by no means a legal "eagle" nor does the State of Florida Dept of Business & Professional Reg. allow me to dispense legal advice. What I can do is forward your email to some people who have been very helpful to me in the past. I make no promises, but maybe we can get some attention to your plight and shine a light on what is really going on. Hang in there. FWIW, I am familiar with this community off of East Bay.

Below is the post I received:

Anonymous said...

To whom it may concern, Can it get any worse than this.

We appreciate your review and empathy towards our situation, as detailed below.

Over the past two years, more than 70 home owners were scammed into buying into a property that is currently, ultimately valueless. The developer in charge has filed for bankruptcy, and owners have little cause for relief. Let me tell you our story, in brief:

• In 2005, PUIG Development Company purchased several apartment buildings with the intent of converting them to condominium units for resell.

• One in particular – now named Venetia Country Club – is in extremely bad shape, and is the topic of this letter.

 First and foremost, the entire property and all of the buildings on the property have no certificates of occupancy, and owners are living there unlawfully. PUIG initially filed for contract/renovation permits but then fired the licensed contractors and had unskilled and unsupervised laborers do complicated electrical and plumbing work.

 The City of Largo knew the building was not being brought up to code, but still allowed PUIG to continue working and selling units, with the developer’s promises to correct the problems. Even after over a year of shirking responsibility and more than $20,000 in accrued fines, the city still continued to allow PUIG to work and sell.

 The City has now levied more than $95,000 in fines against the condo association, which will be ultimately turned over to the owners of condo in the next month. In addition, since PUIG filed for bankruptcy, the city has made it each individual unit owner’s responsibility to bring his/her unit up to compliance – a feat which could cost each owner several thousand dollars.

 If the city cannot get people to comply with a lengthy and expensive inspection and correction process, they have threatened to kick people out on the streets. In fact, owners in one building were actually removed from their units for a period of time.

 Also, many contractors and businesses have large claims against unpaid bills that PUIG has gathered, which will become the responsibility of the board at turnover.

 Repeated requests for relief and review to the Florida department of Business Regulation have been denied since PUIG is in bankruptcy. • Your first question might be, “Why weren’t the owners more careful when buying?”

 PUIG provided fraudulent documentation to each owner, including:

• What many claim to be fraudulent termite inspections in the condo documents (an investigation is ongoing), which has now resulted in the need to tent and repair multiple buildings.

• Inspector reports in the condo. docs which highlighted satisfactory engineer reports. Once they had that, then they did undocumented work on the buildings and did not alert purchasers that the reports were invalid.

• A letter from the City stating that Certificates of Occupancy were not needed unless major renovations were done. Most owners did not realize that the work done invalidated the details in that letter. In fact, the city is now claiming that even with no work done in an individual unit, that letter is no longer valid.

• In the short term, owners have banned together to beg PUIG to assist with paying for basic bills, such as the Utilities and general maintenance to prevent homes from completely falling apart. They have refused to repair the laundry facility and have – some think intentionally - destroyed the pool. Yet, recent monthly budget filings (under the bankruptcy court), still show payments to employees who are supposed to be working on Venetia’s behalf. The owners have not seen, or been able to reach via phone, an employee in quite some time.

• Venetia owners cannot sell their units, and many will be unable to afford the massive costs of special assessments and increases in monthly dues, created by poor development and hidden under fraudulent activity. Although several owners got together to collect money for an attorney, that process could be lengthy and may not lead to any positive outcome.

• Help is hard to find, since help requires money, and with a developer in bankruptcy, money is in short order. The bankruptcy proceedings and depositions focus on shifting and structuring assets, and other such legal-ease, and do not even touch on the fear and concern that the owners of this complex are facing.

If you can, please considering helping us. The Owners of this complex purchased in good faith, only to find our homes are valueless and falling apart around us. Many owners are low to mid income earners, some are elderly and others are pregnant mothers. Most have invested their entire savings into a dream that is now going to be defunct. While this country was founded on the principal of “caveat emptor”, it is also known for its giving spirit towards people in times of need. We are in great need, and any resources that you could assist us with would be greatly valued.

I'm going to step away from real estate and discuss a topic that has NOTHING to do with selling homes or working with buyers or short sales or where our market is going. It has everything to do with safety and awareness - if just one person is helped by this article, then I have done my job and earned a peaceful night's rest.

If you live in Florida, you may not know that the last 2 weeks of February and most of March are the most likely months in which we will experience TORNADOES. I was 1 class short of earning a minor in "Weatherology" (as my wife likes to call it) so let me explain...

As spring approaches, we begin to experience warmer, moister weather. The cold arctic blasts don't arrive as quickly and many die before they reach this far south. Howver, these High pressure systems (dense cold air) sometime drive south like a wedge over the Appalachians and across Florida. When this happens, that wedges moves in underneath the warmer, moist Spring air, driving it upward...the air becomes unstable and !voila! you get very violent storms.

Tornadoes are unpredictable and cause localized damage that may be spread over many miles.

So what can you do?

1) Be vigilant. Tornadoes may be unpredicatable, but the ingredients that cause them are essentially the same. Anytime a cold High pressure system is forecast to sweep through your area, stay alert. Listen for Tornado Watches and plan accordingly. Tornadoes are likely when there is a clearly delineated line of Severe Thunderstorms.

2) If you're at home, have a plan. Where will you go if there is a Warning for your area? Interior rooms are the best - if you don't have one, pick an area with minimal windows.

3) Look for the signs. You may not be near a tv or radio, but it doesn't mean you won't see one coming. In my experience, anytime the sky turns a weird shade of gray with a greenish tint, be careful. Airborne debris such as leaves are also a good indication of updrafts and potentially dangerous weather. If the wind all of a sudden picks up, stay on your toes. And if you hear a train when you don't live anywhere near tracks, seek cover immediately.

If your area or home is impacted by a tornado, most likely you will be a first responder. Tornadoes typically leave much debris in roads and nails, lumber, and downed trees make it almost impossible for emergency vehicles to respond immediately.

While it's easy for me to type "Don't Panic", most of us will. And you know what? It's ok. You have insurance for your house and furniture can be replaced. People cannot be replaced and that's why you need to be aware and have a plan.

Now go enjoy that Spring weather ;-)

Wow, what a difference a year makes. No, not a calendar year but an actual different year! 2007 vs. 2008. ’07 exited with a sleepy sigh as realtors around our area kepting checking their cell phones to ensure they were actually on. Mortgage brokers around the country took a holiday sabbatical and sellers received coal in their stockings.

But look out in ’08! Our office motto is “From Good to Great in ‘08” and so far, we are doing great. Why, you may so inquisitively ask? Personally, I have wrapped up deals and have made 3 offers in 2 days! My buyers are keeping me busy and my sellers are thanking me for bringing them offers!

But truthfully, it’s because of the blood and sweat from ’07 – the constant price reductions, the commitment to advertising, the endless Open Houses, etc.

So why are we seeing this tremendous upswing in activity? Here are a couple of reasons:

First, interest rates are fast approaching 5.0% - If one has excellent
credit, they can get sub-5% loans. They are the lowest in 4 years.

Also, Amendment 1 was passed on Tuesday. Essentially, it doubles the
homestead exemption and also allows homestead "portability" meaning
buyers who have a current homestead WILL NOT have their new property
re-assessed at full purchase price when they purchase, thereby allowing lower tax values.

Additionally, new home starts are at a 16 year low. The former Chairman
of the Federal Reserve, Alan Greenspan, has pegged our recovery at when the existing inventory of new homes begins to decrease and ultimately hits a historical low. It makes sense that less “NEW” inventory will buoy “EXISTING” inventory prices.

Finally, Moody's Economy.com has pegged Tampa Bay as the #1 area to
experience a v-shaped recovery. Read the article at
http://www.sptimes.com/2007/07/25/Business/No_1_spot_to_buy_a_ho.shtml

Just some things to consider. Buyers, now is the time to make that move. REMEMBER, BY THE TIME YOU START READING POSITIVE ARTICLES IN THE PAPER AND ON THE NEWS, THE RECOVERY WIL HAVE ALREADY BEGUN AND YOU WILL HAVE MISSED THE BOTTOM!

Get out there, find the beach home you have always wanted, and make the seller an offer they can’t refuse (sans the horse’s head). Rates are good, sellers are much more flexible, and inventory is relatively high – a triple treat for you!

Best of luck!