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Internet Helps Recreate Swampland
| | Monday, January 10, 2005 @ 12:56 PM EST
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Contributed by: John Michael
John Michael Properties
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DAYTONA BEACH -- The Internet has helped bring back ``swampland'' sales in Florida as companies portray fairly worthless property as good investments, taking advantage of unwary out-of-state buyers. Some of the lots are actually underwater.
Weeks after saying they were unaware of the trend on Internet auction site eBay, regulators with the state Division of Land Sales, Condominiums and Mobile Homes now are investigating the practice for possible violations. Division chief Michael Cochran declined to provide any details of the investigation.
See story here
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