Banks Freeze Foreclosures. How will this effect real estate in Boca Raton?
Posted by Gloria Singer on
South Florida home sales are threatened as banks freeze foreclosures
Another snag has hit the already the troubled housing market throughout the US and particularly in South Florida, including the Boca Raton, Delray Beach, Highland Beach and Boynton Beach real estate markets in which our team specializes.
Because of a myriad of legal and paperwork issues, many banks have halted the sales process of their REO (real estate owned) bank owned properties while the investigation into the improper actions takes place. This is leaving many pending sales in limbo, including several pending contracts that we are working with. More banks are threatening to follow suit and freeze their pipeline of foreclosure sales as well.
Many of our clients are investors, and are…
2172 Views, 0 Comments
This lake front beauty in Bellaggio, an active adult community
in Lake Worth, was just sold by our buyer's specialist, Karen
Rothstein. This full featured home came with all the modern amenities!
Walk into this home onto gorgeous diagonally set 18 inch floor tile. The
eat in kitchen is ultra modern with 42 inch upper cabinets, black
cosmic granite counters, under cabinet lighting, and a drop-in flat top
range with slide out drawers. Architectural features are found
throughout this 3 bedroom home including columns in the living room and a
coffer ceiling in the luxurious master bath. A spacious screened-in
patio with panoramic water views complete this outstanding home which
sold after being on the market for less than 3 weeks! This home was…
Beginning Monday, August 23, 2010, the Palm Beach County Property Appraiser’s office mailed the proposed property taxes for 2010. In the notice, there is a breakdown of millage rates , the property’s assessed and taxable values (as of January 1, 2010), and any exemptions applied. Read your notice closely. Although unfortunately millage rates have gone up in most areas, the values have declined. (example: I am an owner of Boca Raton Real Estate. My market value declined 10%, however my tax bill increased because the local taxing authorities increased their millage rate.) If you disagree with the value, or an exemption has not been applied, you have between now and September 16, 2010 to file a petition. With property values plummeting in the area, many…