Foreclosure in Delray Beach>Question Details

Sdrechsler19…, Home Buyer in Voorhees, NJ

VILLAGE AT SWINTON SQUARE SEEMS VERY CHEAP CONSIDERING HOW CLOSE THEY ARE TO THE BEACH AND ATLANTIC AVE. WHY?

Asked by Sdrechsler1950, Voorhees, NJ Tue Aug 7, 2012

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Due to the shortsales in the community, the values have been brought down. The mortgage companies over lended to people that were not qualified to buy in that price range and people preferred to walk from the properties as oppose to taking responsibility of taking pride in ownership. As a Realtor and President of the Association, the prices are on the rise as the Banks begin to foreclose on the properties and drive the prices up!

Michelle Sadownick, Posh Properties
561-633-1020
0 votes Thank Flag Link Sun Jan 27, 2013
Dear Sdrechsler,

Location, location, location. While they are near The Avenue they are not within an easy walking distance. The same can be said about getting to the sand; although it is closer than Atlantic Ave it still requires a walk down to Linton to cross the bridge.

The beauty of The Avenue is the walkability factor where those lucky to live in the right areas have little need for a car as they can walk to restaurants, pubs, shops and of course the glorious beach. There still are some sketchy areas in close proximity to The Avenue but as the area continues to thrive these areas will be pushed further away from the center of action. Not many opportunities at Village at Swinton Square but we do have a bank owned deal right now but if interested you need to act very quickly.

The very best of luck to you and I hope this information is helpful but if you need anything additional please do not hesitate to give me a call.



Always at Your Service,


Tom Priester e-PRO
"Results Driven Real Estate"

Keller Williams Realty
561 308-0175
tom@tompriester.com
0 votes Thank Flag Link Wed Aug 8, 2012
I am interested. Please send info.
Flag Wed Aug 8, 2012
The maintenance fees may seem high, but they include the building insurance. Being east of I-95 you are required to have windstorm insurance, which is part of the monthly fee. You only need to have contents insurance which is not as expensive in The Village at Swinton Square as all of the condos were built with hurricane impact glass.

The neighborhood is the main driver of the low prices. Yes, it is close to the railroad tracks, but so is 50% of downtown Delray. Depending on the direction and speed of growth, it could eventually increase in value. This development was part of Lenar's "everything included collection" so even the units with no upgrades have nice cabinets and upgraded light fixtures.
0 votes Thank Flag Link Tue Aug 7, 2012
Reasons are as follows.

High monthly maintenance fees (association may be in financial trouble, but I have not seen the financials)
Built right on the train tracks.
Neighborhoods surrounding are not very desirable (West of Swinton Square)
Must pay cash to buy in there.

Those are my two cents.

The positives is that is it newer construction, built by Lennar, and the location is very close to downtown Delray and the Beach.

Jeremy Olsher

Broker
Mizner Residential Realty LLC
561-400-3737 cell
jeremyolsher@gmail.com
http://www.mizrr.com
0 votes Thank Flag Link Tue Aug 7, 2012
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