Peter and Iris Robinson have lost hundreds of thousands on an investment in Florida real estate, it has been revealed.
Northern Ireland's First Minister and his controversial wife bought a luxury home near Orlando Airport at the height of the Florida boom, according to the Irish Independent.
The house then was valued at $600,000 dollars, but is now worth only $380,000, according to local real estate agents
A similar house beside the Robinson home sold for just $350,000 recently.
It was from the Florida home that Iris Robinson sent many of the incriminating texts to an advisor about her torrid affair with then 19-year-old Kirk McCambley. The losses on the house may also explain why she was so urgently demanding money back from her lover, who she helped set up as a restaurant owner.
The Robinsons bought the house in the summer of 2008; just before the real estate crash sent properties tumbling with Florida one of the worst hit states.
The property is described as a holiday villa with four bedrooms and four bathrooms. Peter Robinson is said to spend considerable time in Florida, especially during winter breaks.
3 Comments
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Switch to the desktop site to post a comment.Bridgetftmyers | Feb 01, 2010, 11:03 AM EST
So did all of us !!!!!
KaileeL | Jan 26, 2010, 03:05 AM EST
In the recent years, real estate investment had been deemed to be one of the safest ways to invest. With the case of the first minister and his wife wherein they have had lost hundreds of thousand in the Florida real estate was somewhat a proof that real estate investment is not simple, for if you are in the process of buying a home, or are looking to, you are probably going to want to talk to a real estate agent. Make sure you pick the right one – do NOT, whatever you do, hire the guy who is on the sign for the house you really like. Make sure you find someone that fits you personally, someone you can work with, knows what they're doing and what you have in mind. You need to know more than just what's on their brochure or website.
Watchman | Jan 14, 2010, 02:02 PM EST
What has happened to the Irish Central site? It's falling apart. It's like an untended garden gone wild. and your "news" is either lifted straight from the Irish papers or else made up, like the claim that six out of ten of the richest people in Ireland are bankrupt. If you go on like this, you'll end up like Wayne's World – teenage nonsense filed from a suburban basement. For God's sake, get your act together!