MFI-Miami Blog

Real Estate Alert: Home Flippers Getting Burned In Key Markets Highlighted On HGTV Reality Shows Real Estate Alert! Amateur home-flippers are getting burned. Especially on fixer-uppers. Contrary to what HGTV shows are telling you. Real estate markets highlighted on HGTV reality shows are not as profitable as they show on TV. The  ATTOM Data Solutions ’ third-quarter 2019 U.S. Home Flipping Report states returns on home flips stood at the second-lowest point since 2011. Todd Teta, chief product officer at ATTOM Data Solutions told Housingwire: After a springtime selling binge earlier this year, the home-flipping business settled way down over the summer amid a continuing scenario of languishing profits. Read more at MFI-Miami

The FTC Shuts Down Real Estate Get Rich Quick Seminars Endorsed By HGTV’s Biggest Stars A court has agreed to put a  temporary stop  to a pricey real estate get rich quick real estate seminars fronted by HGTV stars. The Federal Trade Commission alleges instructors making promises to make attendees rich were misleading” and bogus. The Federal Trade Commission alleges in its complaint that Utah-based Zurixx LLC would hold free “Get Rich Quick” real estate events. HGTV stars  Tarek El Moussa and Christina Anstead endorsed Zurixx’s seminars endorsed the seminars.  El Moussa and Anstead host HGTV’s fake reality show, “Flip or Flop”. The HGTV stars are also named in the FTC complaint against Zurixx. Christina Anstead told ABC News that Zurixx is “teaching” their sales techniques and she stands by her sales system. Read more at MFI-Miami

HGTV Reality Shows Are As Fake As A $3 Bill Let’s face it, most people are idiots. They believe what they see on TV. Case in point, I used to get calls from people all the time who thought because they watched four episodes of the Apprentice, they can make millions of dollars in real estate like Trump. The explosion of HGTV reality shows over the past decade has made thousands of people believe they are real estate and home renovation gurus. However, people fail to understand that reality shows are not based on reality. HGTV reality shows make it appear that any chimpanzee with a hammer can do it. Sure, the shows have real people living real lives and doing real things but aren’t quite so real. Producers go to great lengths to create these fake reality shows and try to keep the truth hidden from viewers. They also stage scenes and write scripts. Producers also edit situations to make good people look bad, and rude people look nice. Read more at MFI-Miami

Two Michigan Homes Of HGTV Star Nicole Curtis Face Foreclosure To Meet Unpaid Legal Bills A Michigan judge has ruled HGTV star  Nicole Curtis  is responsible for $32,438 in delinquent attorney fees.  Judge Denise Langford Morris ruled that two of her properties in suburban Detroit could be sold to pay the bill. Judge Morris affirmed an order she issued in February. The HGTV star owes the money to attorney Kurt Schnelz. Schnelz placed a lien on the homes. Curtis had no comment when reached by the  Detroit News on Tuesday . Curtis’ attorney stated he and his client would review their options including an appeal or simply pay the bill. James Rasor accused Schnelz of harassment: This is a very insubstantial amount and we aren’t worried about the (financial) repercussions. But there are some ethical concerns including the filing of these liens on property that is considerably more valuable. There was no reason to go after two of her properties, other than...