The Greed Element of Real Estate

Greed in Real Estate

Collusion and corruption drive a short sale deal to the corner of Third and Q at the Avenues in Salt Lake City. That is what happens when people buy goods without money.

The property at the corner of Third and Q is one of the rarest in the area. As we speak, it is said by one police officer that it is owned by three different people. The notes I have record that he said the owners of the property are Pheal, Seth and a third party. It has not been two years since this house has been purchased by Pheal yet it has had more than two owners and been sold at least once within this time period. Lately Pheal told the police that he owns the house. Two or three weeks prior, Seth walked in on the resident and then posted an eviction notice. Seth told the neighbours that he does not yet own the house but that the deal for ownership is in “progress”. A man came to change locks on the building who said the property is owned by Re-Max (?) Real Estate Company. When he found the resident he changed his mind and said he would not change the locks yet. A few weeks later Seth came to the building with a woman whom he said was from the bank and was there to take pictures of the house for the bank.

According to the notes, the resident and Seth wrestled at the entry way and the transaction aborted.The recorder in this story is a man, Motsamai-o-ja-noha, who lived on this property for over a year. His notes indicate the reason he lived here was asked by Pheal to repair the house which had been a drug hole and a shooting post for a while. This house is gray. The entrance greets visitors with frozen bald lions. The balcony is chapped from the recent traffic of dealers. The East window glass has a little eye from bullets scattered during the storm. Cracks from the eye extend from it like unconditioned whiskers. The interior smells of fresh and old soot and human waste. The walls are finely covered with layers of smoke. Chimneys confused with air currents blew some of the air back in the house. Rusty pipes and grills are buried in lead walls. Paint flakes hang off the wall unsecured like caked up face plaster. This is what happens when purchases happen without cash!

Upstairs a girl visiting met with tension last Christmas. The room just beneath the attic is the bedroom. The air in this room is a stiff tide that ripples skin with goose bumps. “At this corner,” the girl said pulling out her camera. “The rest ran back out the door frame.” The girl captured the figure on her camera. It was a skull of a younger boy. Sockets, the jaw and forehead were prominent. She ran downstairs with the picture and showed it to everyone else. Many people would love place with this kind of history.

The greatest tension built up was on Christmas day when the owner phones to tell Motsamai to vacate the premises. He said he was going bankrupt and the bank was taking over the property.

“You have two weeks to get out of the building,” he said.

Since Pheal had not paid for work done for him on the property the resident did not move out after two weeks. It was a battle between Pheal and the resident. This was not the first battle with Phil and those he went into business with. There was one Mr. Piercy from Chicago who also left empty handed after being ripped off at this property. He incurred expenses renovating the house but got nothing in return. There was neither money to maintain the property nor was there any coming in because the property is overinflated.

Pheal dampened his debt with Motsamai by sending threatening texts and phone calls to Motsamai’s daughter until she asked the police to intervene. Initially, Pheal had asked the daughter to occupy the building to make it seem like she lived there but she declined the offer. Legitimate real estate transaction with money involved would not require these hoops, or would they? After she asked for police intervention, he cut off the electricity in temperatures below freezing. Then he cut water. The resident obtained some supplies from the neighbours and from family. He warmed up on kerosene stove and later on one of the furnaces upstairs. One day the chimney blew the air the opposite direction and a neighbour called the fire department. The fire department then involved the department of health department who have close placarded the premises. The police have indicated that even within the hours on the placard, there must be authorization from the department to get into the building!

Apparently no one is supposed to enter the building without permission from the health department. “We are watching to see what happens,” says the note. Several people have come to this property for a possibility to buy it. If you think this is a short conundrum, think again. There are two other properties bought off of “proceeds” from this house and they are located in Summit Park and in Seratoga. Maybe the one in Pleasant Grove and another in Orem are also part of the deal. If you are a buyer or seller be informed. This home now surrounded by security and other officers shows what happens when we buy property “without money” and keep on bying more and more and more. There is much more information in the notes that I have discussed here. This should be enough light to proceed.

Such incidences as this are not peculiar to the Avenues. The Utah man fined 60 months in prison is an example of what happens when people purchase homes “without money”.

This is the parody, and sarcasm for buying “without” money: havoc after havoc, at least in this historical mansion and its sister buildings elsewhere.