That's right, I'm giving our readers a homework assignment! Listen up readers from the MDPD and the Mortgage Fraud Task Force! Remember the home where all this mess started from, 3390 Oak Ave? Lets pretend were standing in the front yard and look across the street. What do we see?
3379 Oak Ave, last sale December 2008, sale price $397,000 or $616.00 PER SQUARE FOOT!
Now, lets look at the house just to the right,
3375 Oak Ave, last sale date September 2008, sale price $490,000 or $425.00 PER SQUARE FOOT!
A few doors down we get,
3610 Oak Ave, last sale date April 2007, sale price $535,000 or $328.00 PER SQUARE FOOT!
A little further north,
3300 Plaza St, last sale June 2006, sale price $525,000 or $365.00 PER SQUARE FOOT!
Around the corner;
3551 Frow Ave, last sale May 2008, sale price $500,000 or $438.00 PER SQUARE FOOT!
and just a few doors away...
3309 William Ave, last sale June 2008, sale price $450,000 or $511.00 PER SQUARE FOOT!
3146 Hibiscus St, last sale June 2008, sale price $490,000 or $471.00 PER SQUARE FOOT!
LOOK AT THE PRICES! Guess what? These aren't bad ass homes in the Gables! These are all homes in one of the worst areas of the grove all less than half a mile from the home that's the subject of the Bernardo Barrera mortgage fraud case. These homes are surrounded by homes that are all worth WELL below what these homes sold for, not to mention that the surrounding homes are all in much better condition than the ones that we mentioned. How's that possible? The worst homes in the neighborhood being the most expensive? When these homes were purchased, you were hard pressed to approach those prices per square foot even in Coral Gables!
Folks, this isn't the gentrification of the poorer areas of the grove, this is the BUSTING OUT of the poorer areas of the Grove! WTF PEOPLE? For those of you so inclined, do a little research on these homes and their current status. We'll discuss our findings tomorrow.