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

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 ... more

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