Smaller West Palm Beach Homes Okay for Generation Y?

West Palm Beach, Florida - West Palm Beach Homes in the past have been large and historically well designed. However it appears Real Estate Developers are thinking small in an effort to keep prices low and satisfy Generation Y buyers. Many Generation Y Home Buyers are more concerned about location than they are about spacious accommodations.
Compare Condos for sale in San Francisco. San Francisco has a number of complexes where units range from 250 to only 350 square feet. In Vancouver, British Columbia, there is a “micro-loft” building where apartments are 270 square feet.
Some Real Estate Developers are under the impression that for Gen Y, the home is a place to live out of, not to live in.

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CitiMortgage to let delinquent homeowners stay to 6 Months

South Florida Radio stations have reported that CitiMortgage will let troubled homeowners stay in their properties for up to six months without making mortgage payments if they agree to transfer ownership to the bank. This form is called a Deed in Lieu of Foreclosure.

This program is available in Florida, Texas, Illinois, Michigan, and possibly some other States. If the plan proves successful, CitiMortgage will may expand it and other Banks may follow their path.

Some people think this will cut down on the number of homeowners who trash the Home.
West Palm Beach Homes For Sale has purchased some REOs (Bank Owned) that had significant damage.

Palm Beach Mall closing forever

West Palm Beach - The Palm Beach Mall will be closing down after Sunday. Many people have memories when this was the premier Shopping Mall in Palm Beach County. However those days are long gone.

Two stores that have longterm leases, JC Penney and George's Music and a Firestone Complete Auto Care on an outparcel portion of the Mall, will remain open for now. However the sad news is the mall will close.
ORIX, is the mortgage servicer for the mall, will take over from the Simon Property Group.
The future of this West Palm Beach Commercial Property is unclear, however there have been talks of a completer tear-down. At that point it would be possible for big box stores and offices.
By Frank Kilwin