|REAL ESTATE TRENDS
We are often asked, "What is the difference between a foreclosure, short sale and REO?".
A short sale occurs when the lender agrees to take less than the full loan payoff of an owner's property. The homeowner is most likely behind on payments and owing more than the home is worth.
Foreclosure is where the bank takes possession of the property because of non-payment for a long period of time or an unapproved short sale.
An REO is a bank-owned property ("real-estate owned"), when homes go into foreclosure they are sold at a trustee sale, if no one purchases it at the trustee sale, they become REO properties. Later they are often listed by Realtors hired by the bank."
Just for the record, short sales are not really short; they actually take a long time!
BALLENISLES SALES -FEBRUARY
ADDRESS BR BA SALE PRICE MARKET TIME
118 St MARTIN DRIVE 3 3.5 $808,600 178
113 SAN MARITA WAY 5 6.5 $980,000 686
113 SUNSET COVE LANE 2 2.5 $249,000 178
*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 03/01/2011.
To learn more about current Real Estate trends in BallenIsles, click on the links below.
117 Coral Cay Drive
Sunny, Southern exposure and stunning golf course vistas give this perfect courtyard home an irresistable edge. Brand new kitchen with washed wood cabinetry, granite counter-tops and stainless steel appliances, heated jacuzzi in the courtyard and sparkling pool overlooking the 8th hole on the North course are just a few of the many exceptional features.
|THINGS TO DO
Palm Beach Gardens 9-11 Memorial
The Fire Rescue Department was made aware that steel fragments of the World Trade Center's buildings were being made available as 9/11 memorial art pieces in local municipalities. The steel withstood the most horrific attack on American soil that took the lives of 2,973 innocent people. The artifacts were free of charge as long as they were not used in for-profit endeavors. Costs associated with shipping and creation of the memorial art piece were the responsibility of the City. The art created had to be in a memorial open to the general public. This was an extraordinary opportunity to obtain a piece of World Trade Center steel.
The City's goal is to create a 9/11 Memorial with the steel segment as the centerpiece of the plaza in front of Fire Station #3 at 5161 Northlake Blvd . This area includes benches for seating and provides a location for residents and visitors of Palm Beach Gardens to remember not only those who died, but also the many people who performed heroic acts during the events that unfolded on 9/11 and the subsequent days and weeks that followed.
Local artist, Mark Fuller, donated his considerable talent and labor toward the creation of the City's Memorial. The centerpiece of the monument is a 36-foot-tall steel column from the south tower of the World Trade Center. It's encircled by eight glass panels engraved with the names of 3,000 victims.
This incredibly moving memorial is a testament not only to those who lost their lives, or to the heros who tried to save them but also to the community of citizens who vowed to remember them.