About Palm Beach Gardens' Old Palm

Short Sale vs. Foreclosure?

You make the call!

I get the question from people all the time: short sale or foreclosure, which is the better option? My knee-jerk reaction is always “Are you kidding? Short sale, of course!” This has been mostly because I was always under the impression that a short sale, although still a ding on your credit, was gentler on the score than a foreclosure.

But according to a recent blog post by FICO Banking Analytics, there is no real difference in the affect a short sale or a foreclosure has on your credit score. Both the impact in points and the time to fully recover is about the same for both events.

This put me in a precarious situation. All this time I had lauded the short sale as vastly superior to foreclosure, largely because of its less adverse affects on credit. So I was forced to do further research into which was the better option. In doing so I learned about benefits of a short sale I wasn’t even aware of, and found that the FICO blog was way off.

Each borrower’s credit situation is different, and the way that a creditor reports a short sale to bureaus is different. The reality is that hundreds of thousands of distressed homeowners who have chosen a short sale have experienced a lesser impact on their credit than those who have chosen foreclosure.

In a short sale, a distressed homeowner may be able to obtain another mortgage sooner than someone who has a foreclosure on his or her record. Also, more and more employers pull credit before hiring a potential employee, and a foreclosure can keep you from getting a job. Some employers pull credit reports on existing employees, and a foreclosure may not bode well in certain industries.

These benefits stacked against the negatives of foreclosure, including the embarrassment of public announcement and literally being kicked out of your home, make, in my opinion, short sale the reigning champion.

Now you make the call!

Spanning between 4,000 and 5,000 square feet are the Old Palm Club Golf Homes. These homes rest on ¼ acre properties and offer uninterrupted views of the golf course and preserves.

Residents of Old Palm Golf Real Estate are privy to some of the best golfing and country club lifestyle in all of South Florida. The golf club at Old Palm features 18 holes of championship golf that was designed by golf hall of famer, Raymond Floyd. The course provides for a tough game with plenty of hills, lakes and bunkers winding through out. Also, there is a practice facility loaded with plenty of features to help improve your game. The facility includes a dual ended driving range, putting green, three challenging practice holes and a simulated “swing analysis.” The three practice holes are designed after par 3, par 4 and par 5 holes on the Old Palm course. For more information about the Homes in Old Palm, please contact:

Allison Arnold
Harbour Isles, Singer Island & NPB
Waterfront Properties & Club Communities
11891 U.S. Hwy. One, Ste 104, North Palm Beach, Florida 33408
Office Phone: (561) 626-7272
Mobile Phone: (561) 346-4329
Fax Number: (561) 626-7207
allison@waterfront-properties.com

Old Palm is an intimate golf and country club community found in Palm Beach Gardens, Florida. Comprised of only 330 members, Old Palm Golf Real Estate is an exclusive neighborhood brimming with lavish amenities, championship golf and stunning residences. With over 650 acres of land, all of the homes in Old Palm intertwine the golf course and shimmering lakes. Amenities of Old Palm Country Club include 18 holes of championship golf, fine dining, and full spa and state of the art fitness center.

Old Palm Real Estate

Homes in Old Palm are available in three different models; golf estates, grand estates and custom-built estates. Each one of the custom estate homes is different in the way its built, ranging between 7,000 and 15,000 square feet and rest on 1 acre properties. Old Palm grand estates are available in four different models, 6,000 square feet on average. The golf estates reach between 4,000 and 5,000 square feet and offer expansive views of the golf course and lakes. For more information about Old Palm Homes for Sale, please contact:

Allison Arnold

Harbour Isles, Singer Island & NPB

Waterfront Properties & Club Communities

11891 U.S. Hwy. One, Ste 104, North Palm Beach, Florida 33408

Office Phone: (561) 626-7272

Mobile Phone: (561) 346-4329

Fax Number: (561) 626-7207

allison@waterfront-properties.com

Old Palm Golf Club in Palm Beach Gardens, Florida is an exclusive golf course community featuring an 18-hole championship golf course. Old Palm real estate is spread across 650 acres throughout its three subdivisions: Golf Estates, Custom Estates and Grand Estates. Each of these neighborhoods offers spectacular Old Palm homes for sale with floor plans from 3,400 living square feet to over 15,000 square feet. These Palm Beach Gardens golf homes enjoy the community's many first-class amenities which includes a lavish clubhouse complete with fitness center, community swimming pool, full service spa, and an array of dining options.

Old Palm Country Club | Golf Homes for Sale | Palm Beach Gardens Real Estate - Private country club community in Palm Beach Gardens, Florida featuring 294 golf course homes and a Raymond Floyd designed 18-hole championship golf course.

Additional Palm Beach Gardens Golf Communities:

Old Marsh Country Club | Real Estate | Palm Beach Gardens, FL - Exclusive gated 18-hole championship golf course comprised of 213 golf homes and custom estates.

Mirasol Country Club | Golf Course Real Estate | Palm Beach Gardens FL - Gated country club community featuring two 18-hole championship golf courses and 1,200 single-family homes and custom estates.

PGA National Real Estate | Palm Beach Gardens, Florida - Gated resort featuring five championship golf courses that offer real estate consisting of homes, townhomes, condos, and custom estates.

Old Palm Country Club a golf course community | Palm Beach Gardens | Florida | 33418

Old Palm Golf Club a Palm Beach Gardens country club community featuring 294 private luxury estates and an 18-hole championship golf course. Old Palm real estate is offered in many floor plans ranging in size from 3,400 square feet upwards to 15,000 square feet for its larger custom estates. Amenities in this Palm Beach Gardens golf community include a heated swimming pool, state-of-the-art fitness center and spa. At the present time there are 24 homes for sale in Old Palm with prices between $900,000 and $7,995,000.