Winston Trails bank owned-new to the market

A Gold Coast home has just been put on the market, it is owned by Fannie Mae. This bank owned home is a Monaco model: 1 story, 3 bedrooms, 2 baths, 2 car garage, patio, 2043 sq ft under air.

This bank foreclosure is priced at $214,900...about $105/sq ft

Thanks for reading...Steve
561-602-1258

Steal this bank foreclousre in Winston Trails

But you better be on my mailing list or see this as soon as it's posted!

Paris: 5 bedrooms, aprox 2750 sq ft under air, 3 baths, 1 bedrooms and full/cabana bath on 1st floor
Lakefront: Great northern rear exposure
Pool

ONLY $225,000!

To get on my HOT BUYS list...send me an email (click 'hot buys')

If you'd like to put in an offer on this home, give me a call at 561-602-1258

Thanks for reading...Steve

Bank owned homes in Winston Trails

These homes have already been through the entire foreclosure process and have been taken back by the bank at a courthouse foreclosure sale:

Foreclosures in Winston Trails

Below is a breakdown, by section, of the homes in foreclosure in Winston Trails. This does not mean that these homes are all 'bank-owned', it just means that they are in some stage of the foreclsoure process with just a small portion already owned by the bank;

• Bay Meadow/Newport Village: 9
• Barton Creek: 7
• Bay Hill: 2
• Bermuda Dunes: 3
• Golfview Village: 12
• The Greens: 22
• Catalina: 5
• Indianwood: 6
• La Gorce: 4
• Lake Nona: 2
• Lake Shore: 3
• Las Colinas: 4
• Muirfield: 2
• Oakmont: 2
• Prairie Dunes: 1
• Turnbury: 5
• Sand Hills: 11
• Shadow Tree: 2
• Wedgewood: 2

Foreclosures in Winston Trails...an update

Below I have listed all of the homes in Winston Trails reported to be in some stage of foreclosure....some are pre-foreclosure, some are scheduled for auction and some are already bank owned. 60 days ago there were 133 home in Winston Trails somewhere in the foreclosure process...today, there are 141.

I'll list them by street, alphabetically.

• Astoria - 3
• Barton Creek - 7
• Bay Hill - 2
• Brookhurst - 1
• Bermuda Dunes - 2
• Crooked Stick - 1
• Desert Inn - 1
• Dornich - 2
• Eagle Trace - 2
• Floridian - 3
• Grand Cypress - 10
• Green Island - 12
• Hatteras Club - 4
• Indian Forest - 7
• Indianwood Village Ln - 1
• Kemper Lakes - 1
• Kingsmill - 3
• La Gorce Cir - 2
• La Gorce Ct - 2
• La Gorce Ln - 2
• La Quinta - 1
• Lake Nona - 1
• Lake Shore Village - 3
• Las Colinas Cir - 2
• Las Colinas Ct - 1
• Las Colinas Ln - 1
• Las Colinas St - 2
• Muirfield Village - 4
• Newport Village - 8
• Oakmont Village Cir - 4
• Old Medinah - 2
• Perdido Bay - 5
• Prairie Dunes - 5
• Remington - 1
• Royal Birkdale - 8
• Sand Hills Cir - 9
• Sandy Hill - 2
• Shadow Creek Village Cir - 2
• Shadow Tree Ln - 9
• Silverado - 1
• Turtle Bay - 1
• Wedgewood - 2

If you are currently in some stage of foreclosure, delinquent on your payments or there is the possiblility that you will become delinquent on your mortgage in the near future...click on the image below to order our special report: OPTIONS AND SOLUTIONS FOR HOMEOWNERS IN FORECLOSURE (or about to go into foreclosure)...or call me directly at 561-602-1258

Lets review the foreclosures in Winston Trails

Lots of  homes in foreclosure in Winston Trails...and lots more to come.

Now, just because I report them as "foreclosures" does not mean that they are owned by the bank and are for sale for pennies on the dollar....at least not yet. What it means is that these homes have a Lis Pendens filed on them. From Nolo Law Dictionary: Lis Pendens: Latin for "a suit pending." A written notice that a lawsuit has been filed concerning real estate, involving either the title to the property or a claimed ownership interest in it.

There are currently 133 Winston Trails homes reported to be in foreclosure as of today. A few of the ones on this list have already been taken back by the bank at the courthouse sale. Below I will report them by street, alphabetically.

• Astoria - 1
• Barton Creek - 7
• Bay Hill - 2
• Bermuda Dunes - 3
• Crooked Stick - 1
• Desert Inn - 1
• Dornich - 2
• Eagle Trace - 2
• Floridian - 2
• Grand Cypress - 10
• Green Island - 9
• Hatteras Club - 4
• Indian Forest - 6
• Indianwood - 1
• Kingsmill - 2
• La Gorce - 7
• La Quinta - 1
• Lake Nona - 1
• Lake Shore Village - 3
• Las Colinas - 6
• Muirfield - 6
• Newport Village - 6
• Oakmont Village - 4
• Old Medinah - 3
• Perdido Bay - 4
• Prairie Dunes - 3
• Remington - 1
• Royal Birkdale - 7
• Sand Hills - 9
• Sandy Hill - 1
• Shadow Creek - 2
• Shadow Tree - 10
• Silverado - 1
• Turtle Bay - 1
• Wedgewood - 2

If you are 1 of these 133 homes, or if you may be on this list next month...PLEASE call me today so you can learn what options you have and which is the best one for your particular situation. Don't ignore the issue...it won't just go away, and "letting the bank take it" is most likely the worst option you have. Here is my direct line: 561-602-1258

Winston Trails Foreclosure Report

As of 4.1.10 there were 128 homes in Winston Trails in some stage of foreclosure. Below is the breakdown by section:

• The Greens: 24
• Shadow Creek: 14
• Sand Hills: 10
• Turnbury: 9
• Bay Meadow: 8
• Barton Creek: 8
• Las Colinas: 7
• Golfview Village: 7
• Muirfield: 6
• Oakmont: 5
• Indianwood: 5
• Wedgewood: 4
• La Gorce: 4
• Catalina: 4
• Lake Shore: 4
• Fairway: 3
• Prairie Dunes: 2
• Bermuda Dunes: 2
• Bay Hill: 1
• Newport: 1

Now, this does not mean that there will soon be 128 Bank-owned homes on the market in  Winston Trails...just that there has been a Lis Pendens filed on these 128...most of them for being delinquent on their mortgage...Some of the homeowners may catch up on their back payments, some may qualify for the HAMP loan modification program and get to keep their home and some may do a Short Sale before they lose it to the bank in foreclosure. But...the number of homes in foreclosure is growing.

There are actually 4 "bank-owned" homes in Winston Trails now...1 in Wedgewood, 1 in The Greens, 1 in Turnbury and 1 in Las Colinas. I have not taken into account any Winston Trails homes where the owner has done a deed-in-lieu of foreclosure.

However, there are 12 more whose scheduled foreclosure auction sale date has past but the bank has not yet recorded the deed. That should mean in the next 30-90 days, another 13 bank-owned homes coming on the market. Additionally, there are 2 more foreclosed on by their neighborhood associations.

Foreclosures: Housing defaults soar in Palm Beach County

Click here to read the story

And...there are a lot more to come!

Foreclosure...on the market in Wedgewood

A Riviera model (Gold Coast built) in Wedgewood that had been on the market since June of 2008 has gone back to the lender and is now on the market as a bank-owned property.

When the recent owners placed the home on the market in June of '08, they priced it at $342,500...Looking at public records, it appears that they (and their agent) priced their home to "cover what they owed plus costs plus a little wiggle room" and did not price it at market...in the end, it cost them big time.

They reduced the price 8 times from June of 2008 until May of 2009, when they reached $250,000. It then looks like they had 3 different short sale contracts fall through...and they eventually ran out of time.

However, NOW it is priced very attractively by the bank at $239,000 and I predict that it will be under contract in the bank minimum market time of 10 days....most likely with multiple offers having been reviewed.

Uh Oh! Bank owned Venice at 2001 prices...

A Venice in Turnbury, that I believe has been empty for a while now, has just come on the market as a Bank-Owned sale. It was a Wells Fargo loan with the final judgement being $426,439. (the bank is asking $239,000)

The owners, who lost the home, paid $415,000 in January of 2006 and refinanced in December of 2006 for $427,500. According to the courthouse records, the owner stopped making payments in December of 2007.

The foreclosure action was initiated by the bank in March of 2008 and the home was sold at the foreclosure sale January of 2010.

Go ahead and re-read the above...there are some telling dates in the details: Last Payment - 11/07...Wells Fargo files the Lis Pendens 3/08...THEN it is 2 months shy of 2 years until it is taken back by the bank. And over 2 years since the last payment was made.

This perfectly illustrates what I have been saying about what has yet to come in this market:

• Just under 25% of all mortgages in Florida are at least 30 days behind
• Just under 1/2 of all mortgages in Florida are under water

The last reliable figure that I have for the number of Florida homes with a mortgage is 3,895,420 at the begining of 2009. Then the above figures equate to 973,000 homeowners behind on their mortgage...Think about that number...remember how long it took the bank to follow-through on the above example and then extrapolate these numbers to see that there are tens upon tens of thousands of Florida foreclosures coming in the next 2 years...scary!


***here's and update....this home is now under contract--6 days later***2/18

Winston Trails Foreclosure Update

In this post, I will get into a little more detail about the location of the foreclosures in Winston Trails...There are 89 Winston Trails homes in some stage of foreclosure as of today...below you can see a count by development:

 

• The Greens - 16
• Shadow Creek - 12
• Sand Hills - 6
• Bay Meadow/Newport - 6
• Indianwood - 5
• Golfview - 5
• Turnberry - 5
• Las Colinas - 5
• Prairie Dunes - 4
• Barton Creek - 4
• Muirfield - 4
• Wedgewood - 4
• Bermuda Dunes - 3
• Fairway - 3
• La Gorce - 2
• Catalina - 2
• Oakmont - 2
• Bay Hill - 1