Palm Beach, FL Real Estate News

By Richard Sites
(Jupiter homes for sale, Palm Beach Gardens homes for sale,)
I frequently write on my blog at www.coastalfloridarealestate.wordpress.com about the wealth in this area.  You can see it on display all the time from cars to mega-yachts. Recently, the estate of a resident in Admirals Cove in Jupiter gave $ 10 million to the Jupiter Medical Center in the largest single gift ever.  The donor had hundreds of millions or more. And we have big celebrity money here like Tiger Woods and Michael Jordan.  But the big money, the really big money, is on the island of Palm Beach.  And on Palm Beach, the really big money lives on Ocean Blvd..  Folks like Donald Trump and John Lennon and Rush Limbaugh call this stretch of paradise home.  The house Trump sold for $85 million was here as is his Mar-A-Lago mansion and club. Now, word comes that the estaste of a Madof...
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By Tagrid Shunia
(First Pro Capital & Credit Consulting Professionals Inc)
Considering Strategic Default-Think Again SOURCED: www.fanniemae.com Fannie Mae Increases Penalties for Borrowers Who Walk Away Seven-Year Lockout Policy for Strategic Defaulters       WASHINGTON, DC - Fannie Mae (FNM/NYSE) announced today policy changes designed to encourage borrowers to work with their servicers and pursue alternatives to foreclosure. Defaulting borrowers who walk-away and had the capacity to pay or did not complete a workout alternative in good faith will be ineligible for a new Fannie Mae-backed mortgage loan for a period of seven years from the date of foreclosure. Borrowers who have extenuating circumstances may be eligible for new loan in a shorter timeframe. "We're taking these steps to highlight the importance of working with your servicer," said Terence Edward...
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By Marsha Montoya Mayer
(Paradise Properties of Florida, Inc.)
Historic Wyeth-designed Cielito Lindo fetches $6.8 million   Robert Stevens, courtesy of Fite Shavell & Associates Enlarge Photo With its prominent tower room rising above the roofline, historic Cielito Lindo at 122 Kings Road was sold this week for $6.8 million by homeowner Jody Weissman.   One of Palm Beach's most unusual historic homes, Cielito Lindo at 122 Kings Road, has sold for $6.8 million, according to a deed recorded Wednesday by the Palm Beach County Clerk's office. The house is one of several Kings Road residences that were subdivided from a massive 1927 mansion designed by society architect Marion Sims Wyeth in a fanciful Moorish style for Woolworth heiress Jessie Woolworth Donahue and her husband, James. Jody Wolf Weissman sold the Estate Section house, which stands a bit ...
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By Katerina Gasset, Get It Done For Me Virtual Services
(Get It Done For Me Virtual Services )
The Madoff Mansion was sold after being a year on the market. The Madoff Mansion is located at 410 N Lake Way in Palm Beach Florida.  It is a 5 bedroom, 7.5 bathrooms and is 8,800 square feet.  The original listing price was $8.9 Million.  It was reduced to $6.9 Million. After a year on the market it got an offer and was closed this past Friday for $5.56 Million. Palm Beach has seen some decline in market values but not that much compared to other parts of the county. Donald Trump sold a mansion in Palm Beach for $95 Million to a Russian billionaire in 2008.  All of the proceeds from the sale of the mansion will go to the victims of his Ponzi scheme. Bernie Madoff who is 72 years old is serving a 150 year sentence in jail.  View Larger Map         To  view Palm Beach Florida homes for s...
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By Marsha Montoya Mayer
(Paradise Properties of Florida, Inc.)
Palm Beach Real Estate_ Coastal Paradise Palm Beach Real Estate_ Coastal Paradise   The third largest county in Florida, Palm Beach County is a coastal paradise with our beaches and waterways, sports and activities, cultural activities, and fun local events.  Palm Beach County offers a school district that the entire state envies and spectacular houses awaiting the right buyers to call them home. The salt air and gulf breezes lets you know you've arrived in this coastal paradise. If you're currently considering purchasing a South Florida property, you'll certainly have many options available. The tax incentives are a bonus, but it's the properties that will convince you it's the ideal location to build your life and raise your family. Located on the eastern coast of Florida, condominium...
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By Tagrid Shunia
(First Pro Capital & Credit Consulting Professionals Inc)
MERS Foreclosure Filing Issues Did You Know:   To foreclose on real property, the plaintiff (Lender) must be able to establish the chain of title entitling it to relief. But MERS (Mortgage Electronic Registration System) has acknowledged in recent cases that they are "nominee"-"an entity appointed by the true owner simply for the purpose of holding property in order to facilitate transactions." What does this mean to you? If you have been served with foreclosure papers by MERS as the plaintiff, that foreclosure service is basically null and void. The plaintiff must be untitled under the lender and not the name of MERS "the nominee". You must hire a reputable foreclosure defense attorney or real estate attorney that processes accurate foreclosure defense motions.   Feel free to contact u...
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By Marsha Montoya Mayer
(Paradise Properties of Florida, Inc.)
  Musser sells Casa Bella to liqueur entrepreneur Yakoby for $6.25M    Casa Bella, which sold for $6.25 million, had been purchased by Hilary Grinker Musser in 2005 for $6 million.    Hilary Grinker Musser and her husband, Gene Thomas Bishop, have sold Casa Bella at 137 Woodbridge Road, for $6.25 million to New York liqueur entrepreneur Raphael Yakoby, according to recently filed court papers.Marsha Montoya Mayer- RealtorParadise Properties of Florida, Inc.Email: marsha@mypalmbeachrealty.comTel. 561-329-0428
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By Tagrid Shunia
(First Pro Capital & Credit Consulting Professionals Inc)
As of July 1, 2010, the Florida Distressed Condo Relief Act is in effect.  How does the Florida Distressed Condo Relief Act effect Short Sales and Foreclosures? Banks will have to pay one year's worth of unpaid assessments during a short sale or foreclosure sale. Sellers must continue to pay the assessments regardless if they intend to short sale. In some cases, I have seen assessments owed in the amount of $19,000 and a sales price of $160,000; this makes it difficult to obtain a short sale approval from the lender. In this case, there are minimal proceeds to allocate during the closing. If the property is sold as foreclosure, the lenders are still liable to pay the homeowners association, up to 12 months of unpaid principal balance due. In addition, the association can collect rent fr...
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By Jeff Belonger, The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans
( Social Media - Infinity Home Mortgage Company, Inc)
    In the ever changing world of mortgages, you really need to stay on top of what is going on. So many think it's simple when pre-qualifying a borrower. But if you don't ask the right questions upfront and get very detailed, even the cleanest of deals could crash and burn. So what is a 4506-t and what is its importance in the mortgage process?  Basically it's a form used by lenders that allows them to request a transcript copy of your tax returns from the IRS.  In the past, this form most times was used for those that were self-employed or to keep fraud in check. If a lender suspected something funny regarding your income, they could send this form to the IRS.       Your income is being examined very closely now by most lenders. No matter if you are self-employed or the lender/investo...
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By Emilio Cardenal
(irealty.pro)
Are you interested in Buying real estate at Palm Beach, Florida? This is your chance to make purchsae at a fantastic low price. The real estate market in 2005 - 2006 took a dive and it has taken 4 years to stabilize. In many developments / communities in Palm Beach prices at record lows, in some cases lower than what they have been for 10 - 15 years ago.   If you need a mortgage to purchase your property you need to get pre-qualified. You can get this pre-qualification over the phone. Speak to your Florida bank that is familiar with Palm Beach. If you are a foreigner and you wish to obtain a mortgage, then we can refer you to a couple of lenders that specialize in financing to foreigners.   Find your home in Palm Beach can be very easy, visit our company website or contact one of our Re...
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By Jeff Belonger, The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans
( Social Media - Infinity Home Mortgage Company, Inc)
  Are mortgage commitment dates important?  YES…   Mortgage Commitment dates are very important for several reasons.  I wrote about this below... please read - What time is it? It's COMMITMENT time!! Has your commitment letter been on time? The problem that I am seeing now more and more?  I am seeing unreasonable commitment dates in the agreement of sale. I am not the only one that has noticed this because I have asked a few loan officers that I respect and they have agreed.         We all know that realtors, buyers, sellers, and lawyers get upset when commitment dates are missed.  Just recently, I had 2 different transactions that had unrealistic commitment dates in my opinion.   Here are two examples of what I think are unrealistic commitment dates. Buyer # 1 Contract signed 3/31/10 -...
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By Katerina Gasset, Get It Done For Me Virtual Services
(Get It Done For Me Virtual Services )
Living In Palm Beach Florida- A Premier Luxury Community With A Home Town Feel  Palm Beach Florida is an island community that is world renowned where famous people come to make their home from politicians like the Kennedy family to famous singers like Jimmy Buffet to movie stars and many wealthy business owners and heirs. Palm Beach is attracting a lot more people moving from the high taxed states like New York and New Jersey. Florida has NO state income tax, we are a great asset protection state and have homestead exemptions and protections. This is a great place to move to if you want to have the money you have now last longer and go further. For many people the journey to Palm Beach Florida begins with a second home or a vacation home and then becomes a permanent home when the resid...
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By Karina Kfuri, Leal, Florida Broker - FALO PORTUGUES!
(Leal USA Realty 561-350-3503 ( FALO PORTUGUES))
BROWARD GROUP: Organized by Stuart Meetup at the Cove parking lot from 6.45 AM. Pedals up at 7.00 AM sharp. Total round trip of 40 miles to Lantana. We will ride north on A1A, meetup with the Palm Beach group around Highland Beach, head north with them to tour Briny Breezes and then to Dune Deck for breakfast. BRINY BREEZES is a small beautiful waterfront town located between Ocean Ridge and the Gulf Stream. The $700 million community that a developer could not buy, it is old Florida at it best. The above ride will be at 16 - 20 mph adjusted for wind direction. PALM BEACH GROUP: ORGANIZED BY KARINA 400 East Linton Blvd. Delray Beach, FL 33483 Meetup on the parking lot of Linton Blvd. and US1 from 7:00AM to leave by 7.15AM. We will then ride south on A1A till we meet with the group comi...
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By Katerina Gasset, Get It Done For Me Virtual Services
(Get It Done For Me Virtual Services )
  Palm Beach Florida- Back In The Day- Guess Who Trivia!    Palm Beach Florida was really popping in the era between World War I and the Great Depression! Florida was really the rockin’ out place to be, to party and to live it up.    So here are some highlights- trivia you may not know!      Al Capone dreamed of making his home in Boca Raton Florida. He started to settle there but was put into prison. He later settled in Miami where he lived out his years and died of syphilis.  John Dillinger and his gang fired machine guns into the air at a house in Palm Beach on New Year’s Eve of 1933-34.    Hoagy Carmichael was a clerk in a West Palm Beach law firm before he made his fortune in music.    In 1921 President Warren Harding pushed for the creation of the Intracoastal Waterway because he ...
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The market I serve is the luxury waterfront (homes and condos) along the coastline of south Florida from Palm Beach to South Beach. Palm Beach offers one of the ultimate address for the very wealthy looking for their spot in the sun. Finding a well priced property is a real challenge in this market. Inventory is tight and prices are still high. What we have seen happen overall in the past few years is a gradual shift from a buyer's market on paper to a seller's market in real life. Allow me to explain: On paper and MLS search may yield dozens and even 100+ properties that match basic criteria like number of bedrooms, number of bathrooms, and price range. So far so good right ? Not so fast. The trained eye of the pro going through the list quickly realizes that most of these properties a...
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Palm Beach is a small beachside town located in Palm Beach County. Historically the playground of the wealthiest Americans with such recognizable landmarks as the Breakers Resort and Golf, glitzy Worth Avenue, and Trump's Mar-A-lago Estate. For the wealthy buyer, this offers the opportunity to buy a unique Oceanfront or Intracoastal Estate or build your own. Typical prices for Oceanfront Estates start at $10,000,000. Direct frontage on the Intracoastal allows docking larger Yachts (up to 150' for some Estates). Intracoastal Estates typically start at $6,000,000. Other communities offering Oceanfront and Intracoastal Estates include Manalapan, Delray Beach, Highland Beach, Hillsboro Beach (Hillsboro Mile), Fort Lauderdale, and Golden Beach. Visit www.EliteWaterfront.com for current Sales...
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By Scott Gordon
(Exclusive Estates)
It’s not unusual to see homeowners looking to modify the terms of their Palm Beach real estate mortgage loan. Loan modification has had huge demand, leading to a backlog that has slowed down the process for some. This might be interpreted as though applying for a modification is difficult but it’s not quite as complicated as it may seem. If you’ve become unemployed, you can still apply for a loan modification contrary to what you might think. The catch is that you must be able to provide evidence of being able to make the monthly payments at the reduced amount, usually a reduction of twenty or thirty percent. If you’re looking for a very low monthly payment, your lender may have to extend the mortgage a few years so be aware of that. Another misconception is the timeframe available to a...
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By Scott Gordon
(Exclusive Estates)
Open houses are nearly as old as the Palm Beach real estate market itself and have been around long before the internet started to become the average person’s first stop when buying a new home. Since so many studies point out that the majority of buyers start their home search on the internet, some buyers are taking their realtor’s questionable advice and forgoing the open house altogether. It’s true that with the advent of interactive slideshows and video, it’s easy to get a glimpse of any Palm Beach real estate even if you’re in another state. Yet despite these figures of increased internet home buying, studies also show that a good portion of buyers are still purchasing their homes after doing their own personal walkthrough at an open house. At the end of the day, tried and true meth...
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By Scott Gordon
(Exclusive Estates)
For most people, choosing the Palm Beach homes they ultimately settle on is a matter of ensuring that its size, design and its price tag all satisfy that particular buyer’s needs and financial situation. However, any reputable Palm Beach realtor will tell you that there are several additional factors you should take into account before making that final decision. What’s the neighborhood like? Just because you visited during the day and found the neighborhood serene and quiet does not mean that will necessarily be the case during the evening. Make sure you’re fully aware of the neighborhood and whatever quirks it may have. What potential problems should I know about? Usually a seller will be forthcoming about possible flaws in and around the home as it builds trust but there is no law st...
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By Scott Gordon
(Exclusive Estates)
For many people, turning off emotions is easier than it sounds and that’s certainly the case for first time buyers exploring the Palm Beach real estate market. Once you become too emotionally attached to a home, there are added risks that could lead to disappointment or problems down the road. Make sure to avoid these common mistakes. Getting yourself attached to an unaffordable home. Gorgeous stainless steel appliances, marble bathrooms, stunning views, it’s easy to find Palm Beach homes that instantly draw you in but if the price is beyond your means, it’s not doing you any favors. Stick to a certain price and start near the lower end as you make your way up. Not taking into account flaws. Most reputable sellers will detail whatever problems the home might have but that’s not always t...
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