UPDATE: Hulk Hogan

Who says the South Florida real estate market is in the terlit? Your Mama certainly thought it was. And maybe it is for everyone except Terry Bollea, aka Hulk Hogan. According to the Miami Herald, the professional wrestler with the freaky bleached porn mustache has sold his Miami Beach house at an unbelievably monstrous profit in just over one year of owning the North Bay Road property.

Your Mama discussed the property back in July not long after it had hit the market with an ear piercing asking price of $18,9000,000, which was a whopping $6,900,000 MORE than Mister Bollea and his wifey paid for the property in April of 2006.

According to the Miami Herald report, the gargantuan house was purchased for just under the asking price by action film director/producer Michael Bay, who is flush with vast sums of cash from his enormous successes on Transformers, Pearl Harbor, Armageddon, The Rock and Bad Boys.

Just under the asking price?! WHAT?!

If the report is accurate, and we're sure it is, this means that the Hulkster made five or six million clams in a floundering Miami Beach market by flipping his humongous mansion. Your Mama is not sure whether to be impressed or aghast. Of course, a house is only worth what someone will pay for it, so apparently this house is worth somewhere in the neighborhood of $18,000,000 even though just one year ago it was only worth $12,000,000. Well, you could pick us up off the floor now, because Your Mama done passed out trying to get our mind around that sort of exuberant increase in value in just one year.

Mister Bay's new house, a slick 17,339 square foot pair of big white boxes separated by a large courtyard with a huge water feature, is the perfect home for his next live action hero to call home.

On a side note, according to the Miami Herald article, as the Bollea's were moving out of the property last week they realized they had been robbed of $1000,000 worth of jewelry, including several necklaces and a diamond watch. Although stealing is wrong (wrong, wrong, WRONG!), Your Mama is having a tough time feeling bad for the couple who are sitting on a jaw dropping, unbeievable and mammoth profit from the sale of their house, which means they can well afford to buy replacement diamond watches for the entire family. And Your Mama too.

If we've said it once, we've said it a thousand and one times, one of the ways the rich and famous get richer is by flipping high end properties.

Sources Miami Herald