Short Sales On The Rise on Palm Beach Island

Short Sales On The Rise on Palm Beach Island

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A few years ago the word “short” sale did not come up and was hardly known to many Palm Beach realtors or residence a like. “Over the past two years, these transactions have occasionally careened onto the island’s real estate scene” writes Darrell Hofheinz in his Home & Loggia Column in the Palm Beach Daily News (Friday, September 23rd, 2011.) “The time involved in negotiating a short sale isn’t necessarily, well, short.” He writes further – he has that right! Just ask both sellers and buyers on these transactions and chances are they will agree. “But in late July, a deal went through” and J. Richard Allison, broker associate withChristian Angle Real Estate brought the buyer to a $2.78 million short sale in the North End of the island. “The oceanview property gives them “options”,” Allison says especially considering that they already own the property just behind their new purchase.