EUROPA BY THE SEA UPDATES ON INVENTORIES.
I wrote before the article about this small boutique building on the ocean in Lauderdale by the Sea. Developer DYL Group stuck with a few units upon closing than was a bankruptcy court and was difficult time. Quite a few times potential buyers put offers on those units, but lost a patience when nobody has rushed with answers. Now the time has changed. The court appointed representative who should make decision on remaining units, one out of three units got under contract. It tough to be wrong when you are buying ocean front property for almost 200 $ per foot A/C space.
It have been quite a few sales since last year when out of 10 sales about 7 were either short sales or foreclosures. Bank of America has started provide $ 20,000 in different incentives encouraging home owners whose units under water and who is no longer can afford making payments to apply for short sales instead of living the properties.