This is pretty bizarre, via the Naples Daily News:
• A Pittsburgh speculator bought the house at 475 Galleon Drive in Naples’ swank
Port Royal neighborhood and sold it six weeks later for a $700,000 mark-up.
• A Bonita Springs widow, who runs a corporation called Sunny Florida
Investments Inc. from her condo, bought a lot at 4370 34th Ave. S.E. in eastern
Golden Gate Estates for $9,900. She sold it the same day for $37,400.
• A Naples couple bought a home in the middle-class Saturnia Lakes
neighborhood preconstruction at 1929 Isla de Palma Circle and sold it the same
day they closed on it for $207,000 more than they paid.
Note that these are hardly examples of day trading, but instead are signs of increased speclative activity.
The entire article is worth a read . . .
Fa$t bucks: Real estate flipping in Southwest Florida
Naples Daily News, July 10, 2005
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