The Village of Wellington and Royal Palm Beach have been meeting to discuss what to do about the foreclosures. While Wellington does not have that many bank owned properties for sale- that number is usually hovering around 50 at any given time that are available for sale- there have been about 300 homes that have been abandoned in our town of Wellington since 2008.  As Wellington short sale agents we are also concerned about our home values and property preservation.

Wellington has strong code enforcement rules and has continued to pass more so this forces the banks to make sure that the properties that they do own are taken care of. If the property is not on the market and is still in the bank’s ownership, what we call a Wellington REO, the bank must keep the lawns mowed, bushes trimmed, secure the property and more. Once the property is put on the market, the listing REO broker is responsible to keep the home maintained.

If you live in Wellington and know of a home in your neighborhood that has been abandonedplease let us know  or you can call the Village of Wellington code compliance and they will make sure the necessary steps are taken so you don’t have an eye sore in your neighborhood.

The Village of Wellington will help take care of the homes. The goal is to make it look like someone is still living there. The Village of Wellington also buys the worst of the homes, makes the necessary improvements and then puts them back on the market to sell. This is of course taking a risk but one that is worth taking for the betterment of our community. Wellington is a beautiful home town that is very desirable to live in. We all want to keep it that way.
 

3 Responses to Wellington Short Sale Agents- Wellington Takes Action

  1. Good information from Wellington short sale agents about current and possible foreclosure policies in Wellington FL and Royal Palm Beach FL.

    It is important that local government and homeowner associations work together to preserve the market value of the homes in the area.

    Laurie Hellmer
    Real People Realty
    Chicago, IL

  2. I agree. This is vital information from expert Wellington Short Sale Agents that will help homeowners become more aware of the policies in their city. Thanks for sharing this Katerina!

    Bob Hertzog
    Summit Home Consultants
    Phoenix Short Sale Agents

  3. Abandoned homes are a big reason to favor short sale over foreclosures. As a Wellington short sale agent, I’m sure you would agree. Short sales offer a smoother transition for the neighborhood and community.

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