|REAL ESTATE TRENDS
March Sales of just one property is a bit misleading. There are 14 properties that are under contract but have not closed so the sales numbers are better than they appear. Please note that 1152 Crystal Drive was a short sale.
We get asked all the time, "What exactly a short sale?" So here is a user friendly explanation.
- A real estate sales transaction executed with the understanding that the seller will payoff their lender less than what is owed on the property.
- The lender may choose to issue an IRS 1099-A form that shows the deficiency as income which the borrower may have to pay income taxes on. A short sale can help a homeowner prevent foreclosure. A homeowner can continue to live in the property during the short sale. Most lenders do not allow a short sale unless the payments are at least two months behind. The homeowner usually is required to write a letter of financial hardship to the lender. Some lenders have pre-formatted Financial Hardship Packages. Lenders usually prefer to work with REALTORS® in short sales to ensure proper marketing to sell the property and to prevent direct dealings with unlicensed investors or consumers.
BALLENISLES SALES - MARCH
114A Palm Point Circle 2 2 300,000 (Feb.)
1152 Crystal Drive 4 4 450,000
*This representation is based in whole or in part on data supplied by the Realtors Association of the PalmBeaches or its Multiple Listing Services thru 04/08/2010.
To learn more about current Real Estate trends in BallenIsles, click on the links below.
1003 Grand Isle Way
This estate home has tranquil water views and is close to the center of BallenIsles community life. Saturnia marble floors, large gourmet kitchen with center cook island, huge master suite with fireplace and a step-down wet bar are just a few of the superb features in this gracious home. Also available as a seasonal rental with full golf club privileges.
See a Virtual Tour of this property See All BallenIsles Properties for Sale
Mos' Art Theatre
LAKE PARK -- Last summer, a new independent movie theater went up against the major studio releases in the height of summer blockbuster season with cut-rate ticket prices and free wi-fi access in the lobby. And when it turns a profit, a portion of it will be earmarked for charity.
Philip Dvorak and Albert Rossodivita are complete novices when it comes to running a movie house, but they have plenty of good ideas. Now what they need is a supportive audience.
Two years ago, Dvorak and Rossodivita discovered the place while searching for a site to carve out a community-oriented movie theater. "We ran across this location and started dreaming about how we could be a part of transforming this community, a part of making a difference in this town," says Dvorak, a former mental health counselor. If you think that is an unusual background for running a theater, you could say the same for Rossodivita, an actively practicing minister.
They began from scratch, contacting as many production and distribution companies as they could, starting to build relationships and business arrangements. Ultimately, they hired a booking agent to assist them in acquiring films, many of which would not otherwise play South Florida.
As in its past incarnations, Mos' Art has a sizable lobby area that doubles as an art gallery. "Where you first walk in, we have art hanging. And couches and free wi-fi. We want it to be a place where people can hang out and get to know each other, even if they're not coming to watch a movie."
It could be a while before Mos' Art shows a profit, but when it does, Dvorak and Rossodivita intend to donate a portion of it to those in need. "We really do want to genuinely be a part of transforming this community," says Dvorak. "We want to do what we can and it takes money to make a difference. We're going to determine what that percentage is that we can afford and then hopefully continue to keep raising that up."
Yes, movie theaters have come and gone, but Dvorak's enthusiasm is so infectious, he just might make Mos' Art Theatre work.
MOS' ART THEATRE, 700 Lake Ave., Lake Park. Call: (561) 337-6763