Foreclosures in Lakeview Estates

 

As of today, there are 9 Lakeview Estates homes in some stage of foreclosure. (on 4/1 there were 7)

• 3 on Blue Bay
• 2 on Windy Preserve
• 2 on Brickyard
• 1 on Hudson Bay
• 1 on Turtle Point 

Foreclosures in Lakeview Estates

As of 4/1/10 there are 7 Lakeview Estates homes in some stage of foreclosure.

• 3 on Blue Bay
• 2 on Windy
• 2 on Brickyard

Foreclosures: Housing defaults soar in Palm Beach County

From January to February of this year, foreclosures in Palm Beach County jumped 63%...and year over year they were up 68% in February...
click here to read the full story

CNN Money reports 25% home price decline ahead for our area!!

Take a look at this eye-opening post on our Winston Trails blog...If you're a home owner, you NEED to read it. Just click right here

Some must-read stats...

According to a CNNmoney.com report today, nationally, 1 in 4 mortgages is currently “under water”. That comes to almost 11 Million homes where the owner owes more than the home is worth.

The majority of underwater mortgages are heavily concentrated in five states that have particularly suffered from the housing bust: Nevada, at 65%; Arizona, at 48%; Florida, at 45%; Michigan, at 37%; and California, at 35%.

For us in Florida, that is a very scary number…45% of all homeowners owe more than their homes current market value! Add to that continued job losses and the potential number of defaults/foreclosures is tremendous.

Hopefully, the expanded and extended homebuyer tax credit will keep a finger in the dyke long enough to give sellers who are not yet under water who want/need to sell to a chance to get out. But looking forward, as the tax credit expires, and if the Fed follows through on its plans to scale back its purchases of mortgage-backed securities (MBS), which will signal the end of these historically low interest rates, I sincerely believe that we will see a resumption of the decline in home values here in South Florida.

Sellers and those thinking of selling take heed…your window of opportunity is the next 6 months…

Lakeview Estates market activity recap

Below you'll see the recent market activity for your community

• There are currently 6 homes on the market
• 1 of the 6 is a short sale
• 1 of the 6 is a bank-owned property
• The remaining 4 are regular sales at this point

• In the previous 90 days, there has been only 1 closed sale reported

• There are currently no homes under contract

A search of the Palm Beach County courthouse records reveals that there are currently 5 homes that have had a "Lis Pendens" (default/foreclosure notice) filed. None of the 5 are currently on the market.

Govt. Foreclosure Rescue Plan losing ground...

Foreclosure...on the market

An expanded Aspen with a pool on Blue Bay Circle that was taken back by the bank on July 30th of this year has just come on the market at $285,000.

This home is reported to be 2743 sq ft under air on the Palm Beach County tax records. But from the elevations I can see, I believe it is an  Aspen, which is 2336' under air, that must have been expanded (or the tax records are incorrect). If the sq footage is correct, an asking price for a pool home in Lakeview Estates of just over $100/sq ft is quite a deal!

The previous owners paid  $450,000 for the home in December of 2006.

Scary default stats...

13.16% of Mortgages Delinquent: MBA


By DIANA GOLOBAY August 20, 2009 10:04 AM CST

Single-family mortgages set a new record delinquency rate of 13.16% in Q209, according to the quarterly survey by the Mortgage Bankers Association. The delinquency rate includes mortgages at least one payment past due or in foreclosure.

The results were lead by Florida with 12% of mortgages somewhere in foreclosure, another 5% at least 90 days past due and a total 22.8% at least one payment delinquent or in foreclosure at the end of June. Nevada followed Florida with 21.3% at least one payment past due or in foreclosure.