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Short Sale in one of Downtown Boca Raton’s most desirable full-service buildings!! – $475,000.00
Short Sale subject to lender approval; all final commissions approved by lender will be split 50/50 between brokers. Experienced Short Sale Attorney handling negotiations with bank; ONLY ONE LENDER!
**A SPECTACULAR DEAL IN TOWNSEND PLACE** PRICED TO SELL, this spacious first floor residence is one of the few units in the building that experience 10ft ceilings. You will feel as if you’re in a private single family home, with the spacious floor plan and oversized 600 sq ft lanai overlooking the renowned Boca Raton Resort Golf Course!! Gorgeous Saturnia marble floors run throughout the living areas, and top-of-the-line details adorn the rest of the interior. Townsend Place, a full service 5-star building, includes in its amenities concierge service, valet, business services, a state-of-the-art fitness facility and a two-story Club Room that opens on to the recreational deck available for residents and their guests. Satellite TV, Wireless Internet at Common Areas (incl. the pool area), and on-site management are just a few other offerings in this gate-manned development. **Townsend Place is also a PET FRIENDLY building (up to two pets combined weight of 35lbs or one pet under 25lbs). Townsend Place Condo Association requires a $500 moving fee as well as 3 months of maintenance fees due from buyer at closing for capital reserve funding.
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All information in this site is deemed reliable but is not guaranteed and is subject to change
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When will the housing slump finally end? Even the experts’ crystal balls are hazy. The Wall Street Journal, which Thursday reported its latest quarterly survey of housing data, says it depends on which city or part of the country you’re talking about. Home sales were up compared to last year in Washington, D.C., and Northern Virginia, Orlando, Minneapolis, Southern California, and the San Francisco Bay area, according to findings from research firm MDA DataQuick as well as reports from local real estate practitioner organizations. Sales declined in New York City and nearby Long Island, Chicago, and Charlotte, N.C., and the outlook was particularly bleak in Miami-Fort Lauderdale and much of Florida, Detroit, and Las Vegas. But Jody Kahn, an analyst at John Burns Real Estate Consulting, a research organization, points out that there are variations even in the hardest-hit metro areas with the most attractive neighborhoods continuing to thrive. Employment is the most telling factor, says Mark Zandi, chief economist at Moody’s Economy.com. “If people don’t have jobs or fear losing their jobs, then buying homes is out of the question,” he says.
Source: The Wall Street Journal, James R. Hagerty (07/23/2009)
MIAMI – June 16, 2009 – South Florida home prices have hit bottom, but threats to the housing market still loom as foreclosures rise, mortgage rates creep up and inventories remain high.
That’s according to a prominent economist and several top real estate brokers who spoke here Thursday during the International Real Estate Congress hosted by the Realtor Association of Greater Miami and the Beaches.
“We’re certainly near the bottom if not at the bottom,” said Lawrence Yun, chief economist for the National Association of Realtors.
The median price of an existing single-family home in Palm Beach County has plunged more than 40 percent since 2005. Yun cited a study released last week by research firm IHS Global Insight that said home prices in Palm Beach County are undervalued by 32 percent.
Mike Pappas, head of Keyes Co. Realtors, agreed that the withering collapse of the past three years finally has ended.
“We believe the worst is behind us,” Pappas said.
That’s not to say that the housing market is poised for a big rebound. Realtors see obstacles, including:
• Foreclosures. The number of foreclosure filings in Palm Beach County rose 33 percent from April to May, research firm RealtyTrac said Thursday. “Unfortunately, foreclosures will continue to increase,” Yun said.
• Rising mortgage rates. The average rate for a 30-year mortgage spiked from 5.29 percent last week to 5.59 percent this week, Freddie Mac said Thursday. Yun acknowledged that rates above 6 percent would slow the recovery, but he predicted rates will fall to 5.2 percent later this year. “I believe the bond market is overreacting,” Yun said, causing rates to rise.
• High inventories. The number of homes for sale has fallen over the past year, but there remains a glut of homes on the market. Inventory “is still much higher than it should be,” said Ron Shuffield, head of EWM Realtors.
• A sluggish high-end market. Although properties priced at under $200,000 are moving quickly, the high-end market is “stagnant,” in part because of high rates for jumbo loans, said Rei Mesa of Prudential Florida Realty.
Copyright © 2009 The Palm Beach Post, Fla., Jeff Ostrowski. Distributed by McClatchy-Tribune Information Services.
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RED (Renew, Energize and Donate) Day is a new Keller Williams Realty service initiative dedicated to improving our local communities. We are asking all Keller Williams Realty associates in the US and Canada to donate their time on May 14, 2009 to renewing and energizing aspects of their local communities. Because of her constant commitment to the culture of our company, this day has been dedicated in honor of our Vice Chairman, Mo Anderson.
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