About Wellington's Versailles

Versailles Wellington Florida- Mortgage Fraud Arrests

07-03-10

Nestor & Katerina Gasset Realtors® Wellington Florida Homes For Sale

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Office: (561) 753-0135

Mobile: (561) 502-1577
Secondary: (800) 444-3316

Versailles in Wellington Florida is a very beautiful upscale community that has been plagued with mortgage fraud.

Versailles Wellington Florida homes for sale

Over the last few years more arrests have been made in this gated community that is full of some of the most beautiful mini mansions you will find in South Florida.

Another person was just arrested. This is the third person in two weeks that has been arrested on mortgage fraud charges in regards to buying houses in Versailles.

This upscale community at the peak of the market was selling hot, hot, hot. The prices were going up daily. People were buying pre construction from the builder and then flipping the properties. Unfortunately, the project was not totally build out before the bust and therefor many people got left holding properties they could no longer flip.

When buyers ask us about Versailles and why have the prices fallen so much we explain about the timing of the market. But not only that, Versailles was ripe for mortgage fraud and that has put a stigma on this gorgeous neighborhood.

It will come back around though so now is a great time to get a home at a great price.

Marie Quintana was just arrested according to the Palm Beach Post. She is one of 25 Opa-locka residents identified by the Post that moved into Versailles taking out huge mortgages and then not paying the payments leaving the community plagued with foreclosures.

Federal prosecutors say that Marie lied to Bank of America and National City Bank by telling them she made $50,000 a month working for some company and that she had $650,000 in the bank and also that she was going to put down $413,528 on the house when it closed. None of this is true according to the prosecutors. She ended up getting a $1.7 million dollar loan.

How did Marie pull off this scam? Well, this is what the prosecutors say happened:

Wedelie Etienne another Opa-Locke resident bought a mini mansion in Versailles of Wellington. She went into foreclosure. Marie ( remember Marie is also from Opa-Locke) steps into to pay $1.9 million dollars for this home as the market is crashing.

So Marie then pockets $600,000 in paper profit and then nine months later goes into foreclosure. Her payments were $9,853 per month.

After investigating the matter the prosecutors discovered that the company that Marie says she worked for was run out of an apartment in Miami, that she actually was living in a modest home that was valued at $162,000 when she bought the Versailles home and that she had been awarded a $7,500 grant to help her buy an old condo just a few months before she bought the Versailles home.

Marie was arrested on June 23rd. The two banks lost about $1.1 million.

No one knows why Versailles in Wellington ended up being the target of this group. But the investigation is showing that at least 25 people in Opa- Locka were involved in buying many of the homes through mortgage fraud in Versailles Wellington Florida.

Opa-Locka is one of the poorest sections of Miami-Dade county. These 25 buyers all lived within 15 miles of Opa-Locke and picked up millions of dollars in home loans, the drove over 60 miles north to Versailles and then defaulted.

Most of these people spoke very poor English. There are 8 fugitives being sought right now and last week two more people from the same area were arrested for mortgage fraud for home purchases in Versailles of Wellington Florida.

To view Welington Florida short sales Click here. We know Wellington Florida Real Estate and Wellington Florida Short Sales and will help you get your home Sold if you need to Sell your home and help you buy your home in Palm Beach County Florida: Call us today.

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Wellington Florida Real Estate News: Mortgage Fraud Comes To Wellington

11-13-09

Nestor & Katerina Gasset Realtors® Wellington Florida Homes For Sale

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Office: (561) 753-0135

Mobile: (561) 502-1577
Secondary: (800) 444-3316

Wellington Florida Real Estate News: Mortgage Fraud Comes To Wellington Florida.

We get asked quite often why the prices have dropped so dramatically in Versailles of Wellington Florida. Versailles in Wellington Florida was built right at the height of the boom and right before the bubble burst.

The homes are stunningly beautiful in old French Provincial themes and the most extravagant entrance probably in all of Wellington. The entrance alone cost the developer millions of dollars. This is a gated community with a resort style clubhouse and pool. You can read more about Versailles Wellington Homes For Sale on this post that I wrote.

Versailles Wellington Florida homes for sale

By the time the building started you could not touch the smallest home in Versailles for under $600,000 with many of the homes selling between 1 million to 3 million dollars at that time. This attracted wannabe investors who were planning to flip these properties before the completion of the building. So what would happen is the buyer would go to the sales office, pick out their lot and their model to get built, then put down a very small deposit, usually about $10,000 To $15,000. The buyer did not have to go through the loan process until the end of construction. Some people bought two or more of these properties this way. Then the bust came and these buyers were stuck with having to close on the loans since they could not flip them during escrow because the values started to decline. Some people leased their properties and many just walked away and let them get foreclosed which drives the prices lower still.

versailles Wellington Florida homes for sale

A federal grand jury just indicted 8 South Florida licensed mortgage brokers, title agents and straw buyers. These people have all been indicted for committing fraud on buying five homes in Versailles of Wellington.

The indictment consists of 15 counts. The indictment alleges that these people flipped these 5 properties sometimes TWICE in the same day!!! And doubling the value of the property in ONE DAY! The group recruited buyers who did not have to bring any money to closing, took title to the property and then 24 hours later transferred the title. For doing this they each were paid $10,000.

Then when the second buyer took title to the property 24 hours later they were getting $437,000 of the mortgage money from Washington Mutual, WAMU. Then they walked away from all of these homes and allowed those homes to go into foreclosure and committing fraud against WAMU to the amount of $8.5 million dollars.

Please remember that all people accused of a crime have the right to defense and are innocent until proven guilty. The following names are in the indictment, a matter of public record and reported also in the local newspapers:

Most of the defendants are from Miami Florida and some also from Columbia, Rony Alberto Aguilar, Reinaldo Perez-Sanchez, Pablo Atouro Aponte-Torres from Puerto Rico, Fabio Salazar, Roger Omar Nunez- Murillo, Idalmis Arias, Ericson Perez of Georgia and Juan Carlos Lopez of Miami.

You can get a really good price on a magnificent mini mansion in Versailles Wellington Florida! Their loss is your gain!

versailles Wellington Florida homes for sale

T o view Florida Short Sales- Click here . We know Palm Beach County Short Sales and Port St Lucie Florida Short Sales and will help you get your home Sold if you need to Sell your home and help you buy your home in Palm Beach County Florida : Call us today.

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Versailles in Wellington Florida- Homes For Sale

07-26-09

Nestor & Katerina Gasset Realtors® Wellington Florida Homes For Sale

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Office: (561) 753-0135

Mobile: (561) 502-1577
Secondary: (800) 444-3316

Versailles in Wellington Florida- Homes For Sale

Versailles in Wellington Florida has some of the best prices for mini mansions in the country! Where else can you get gorgeous renaseance style architecture with over 6000 square feet under air for less than a million dollars in Wellington Florida or anywhere in South Florida? These are amazing values.

Often buyers ask why are the prices so low in Versailles in Wellington Florida and what is wrong with the houses or the community if the prices are so low. Well, one man's folly is another man's opportunity! Versailles in Wellington Florida was being built at the height of the boom here in Wellington Florida. Mostly what happened is speculators and individuals who had dreams of flipping these McMansions for $100,000 and more profits bought several homes at the same time. They were gambling on selling the properties before the builder was finished and before they would have to close on their loans. It just so happened that this people were caught when the bubble burst. There was also a lot of mortgage fraud going on in Versailles in Wellington Florida. Needless to say, the people could not afford to make all these house payments on these high prices homes.

Most of these homes were selling from $1,000,000 to over $3,000,000 during the boom. It was hard pressed to find one for sale under a million dollars. Well, now you can just about name your price to live in this awesome gated and secured neighborhood at Versailles in Wellington Florida.

Versailles in Wellington Florida homes for sale

Versailles is close to Wellington Regional Hospital, elementary, middle and high schools and minutes from the Wellington Green Mall with all the shops and eateries you need right at your back door. If you love to shop at Whole Foods, well, it is just a couple minutes away! You also have easy access to the Florida Turnpike and you are right off of State Road 7 or 441.

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The clubhouse and the entrance itself cost over $3,000,000 to build and is better than a resort complete with an amazing pool and spa, fitness center, recreation room, kiddie areas and a lot more.

Let loose on the basketball courts or enjoy a game of tennis with one of the many friendly neighbors you are bound to run into. The clubhouse is complete with a game room, library, fitness center, business center and more.

Soak in the sun around the resort style pool and spa. Have a fun get together with neighbors, families and friends.

The tree lined roads are filled with upscale Palm Trees and landscaping that make you feel like you are on some island resort complete with a 24/7 guard gate for security. Enjoy the fabulous lakes and walk ways around Versailles.The community is divided into different sections of smaller island type settings.

There are 456 homes in the Versailles in Wellington Florida development. Currently there are 64 homes for sale and I even found a couple that have reduced their prices into the high $200,000's! Now, that is a bargain price for a high end luxury home! Now is your time to take advantage of South Florida's real estate market! There is one home that is listed for $280,000 but the owner paid over $630,000 for that home! These are bargain basement prices! Another home is listed for $500,000 and the owners paid over $900,000 for the house when it was being built.

In Versailles in Wellington Florida the prices of the 64 homes for sale consist of 3 asking $280,000 to $299,000. I am not sure if these are prices that the short sale lenders are going to take because those are lower than the market value. There are:

13 homes for sale asking for $315,000 to $399,000;

19 asking $400,000 to $499,000;

11 for between $500,000 to $599,000;

4 asking $610,000 to $699,000;

3 asking in the $700,000's;

5 for between $800,000 to $899,900;

1 is asking $990,000;

5 are trying to sell their homes for $1,000,095 to $1,295,000.

In Versailles in Wellington Florida there were 14 homes sold or under contract to be sold since May 26,2009. Of the homes that have actually closed by now:

The lowest price was $330,000 for a 4 bedroom, 4.5 bathroom, 3 car garage;

there were 5 homes that sold in the $300,000's;

there were two homes sold in the $400,000's;

1 home sold for $665,000 which was a 6 bedroom home with 4.5 bathrooms and a 3 car garage.

Enjoy this video tour of Versailles in Wellington Florida:

You can do an interactive search of all the homes for sale in Versailles in Wellington Florida right here on this blog article. Below is an interactive search tool that you can use and you do not even have to give us your name or number or email to search for a home with this search for a home in Wellington Florida tool. You can change your search specifics also; like choose the bedrooms, baths, pool and other criteria to see what is available in real time.

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Versailles Wellington Florida Luxury Real Estate - Estate Homes For Sale

07-26-09
Michelle Gibson REALTOR® Wellington Florida Homes for Sale

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Office: (561) 333-0446

Versailles Wellington Florida Luxury Real Estate is a magnificent luxury community to call home!

Versailles is a luxurious and sophisticated community located in Wellington Florida. These Estate Homes are located close to top rates schools and the Florida Turnpike. Homes for sale in Versailles also offers great shopping, fine dining and entertainment.

Versailles was built by Transeastern Homes from 2003 to 2006. Versailles has a French inspired theme throughout the community. The grand entrance includes a spectacular fountain, glistening lakes and decorative gazebos.

Versailles has 450 luxury homes divided into three sub-developments. Most homes are situated on a private home site or one of the beautiful lakes throughout the community.

Versailles has three collections: Ariste, Provence and Chapelle Royale with over 25 different floorplans. The resort style amenities include a state of the art advanced cardiovascular fitness center, billiards room, lighted tennis courts and much more.

For more information about Versailles and Wellington Florida Real Estate visit: Versailles Wellington Real Estate

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Live In The Style Of Versailles Wellington Luxury at 10698 Versailles Blvd. Wellington Florida

05-07-08
Nestor & Katerina Gasset Realtors® Wellington Florida Homes For Sale

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Office: (561) 753-0135

Mobile: (561) 502-1577

Secondary: (800) 444-3316

Live in the magnificence of Wellington Luxury in Versailles, the grandest of communities in Wellington Florida at 10698 Versailles Blvd. Wellington Florida.

As you drive up to this grand 6 bedroom with a loft and 4 bathrooms, the very beauty of the landscaping overtakes your senses with red flowering bushes to majestic purple flowering vines embracing the entrance and over the archway of the exterior.

When you enter through the double glass and engraved doors you are greeted with wonderful murals on each side of the foyer.

The grandeur of the Taj Mahal mural gives the sense of presence as the mirage of water glistening and falling towards the floor amaze even the most sophisticated of artisans. This is the focal point of the living room.

Then your eyes gaze out over the pool and rear yard to wonderful entertainment areas. Following that you are welcomed by wooden staircases as you look towards the family room and formal dining room. Each stair is carefully inlayed with ceramic artist pieces on each kick board all the way to the top of the staircase.

The kitchen is the most efficient and visually appealing kitchen all in one breath. There is ample seating along the granite counters which fit more than 6 bar stools comfortably. Gas stove top and double ovens make for a chef's delight. All stainless steel appliances with upgraded to the max wood cabinetry top of this kitchen. Dining is elegant with the butler's pantry and kitchen on the way to the formal dining room.

The dining room's ceiling is designed with faux finishes and architectural details that are intricate and finite. All the walls in the home are either faux painted or have hand painted murals.

This home comes complete with a full summer kitchen for fantastic outdoor entertaining. If you enjoy outdoor gourmet cooking than this is the place you will be enthralled with . Over looking the pool and spa, this summer kitchen can be used year round here in South Florida. It does not get better than this!

A fully automatic natural gas powered generator will turn on automatically in any power outage no matter what the cause. No running around trying to fill up gas cans, no rolling out the generator from the garage, no deciding what to turn on and what not to. This is the top of the line generator that powers itself and is maintained on its' own. It powers itself on once a week to make sure all in in order. Live in South Florida year round with peace of mind.

The master suite has a warm and inviting sitting area along with an outdoor balcony overlooking the pool and the landscaping. There are three closets in the master dressing area and the master bath is spacious and eloquent with lots of privacy.

The loft is large enough to be turned into a 7th bedroom if you need more than 6 bedrooms. The lay out of this home feels warm, open, spacious and more than wonderful. Make this your home today for the low price of

$ 1,099,777. Call Nestor Gasset or Katerina Gasset at 561-753-0135 to set up your private tour of your Versailles luxury home in Wellington Florida. This is not a short sale. The furniture is negotiable.

Enjoy The Real Estate Show Of This Home and Enjoy The Music Too!

Contact Nestor Gasset and Katerina Gasset, CIPS, Realtors®, International Properties and Investments, Inc. Licensed Realtors® in Florida at 561-753-0135 to list your property for sale or to purchase a property in Wellington, Royal Palm Beach, Loxahatchee, Lake Worth, Hypoluxo Island, Lantana, West Palm Beach and the rest of Palm Beach County Florida and Port St Lucie Florida. We are accepting referrals.

Copyright © 2008 By Katerina Gasset, All Rights Reserved.*Live In The Style Of Versailles Wellington Luxury At 10698 Versailles Blvd. Wellington Florida *

Call us today at 561.753.0135 or Toll Free 800.444.3316. Contact us by email if you prefer by clicking on email me on the right side of this page under our profile.

To view all the Wellington Florida Luxury Homes For Sale Click here and then click on Search For Homes We know Palm Beach County and will help you get your home Sold if you need to Sell your home and help you buy your Wellington Home or Land ; call us today.

Disclaimer:The information provided herein is supplied by several sources and is subject to change without notice. Wellington Homes Blog does not guarantee or is any way responsible for its accuracy, and provides said information without warranties of any kind, either express or implied. Entries on Wellington Homes Blog represent the opinions and ideas of the author(s). Wellington Homes Blog does not express the views of International Properties and Investments, Inc or those of the broker.

P.S. If you are listing your home as a short sale in Palm Beach County Florida and Port St Lucie Florida make sure you hire an agent who knows how to do short sales and has the experience to get the job done. We are doing successful short sale packages. Call us at 561-753-0135 to find out more about Palm Beach County Short Sales and Port St Lucie Short Sales.

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Versailles Wellington Florida- Mortgage Fraud Arrests

Wellington Florida Real Estate News: Mortgage Fraud Comes To Wellington

Versailles in Wellington Florida- Homes For Sale

Versailles Wellington Florida Luxury Real Estate - Estate Homes For Sale

Live In The Style Of Versailles Wellington Luxury at 10698 Versailles Blvd. Wellington Florida

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