ATTENTION ALL BOATERS!

PICTURE THIS:  You pull your boat up to the soon-to-be-built Waterfront Promenade at the Bridge Hotel in Boca Raton, and dine in the popular WaterColors Restaurant.  There will be a 270 ft wraparound seawall and dock; construction beings this week.  

This is the initial phase of the Bridge Hotel’s major “reinvention” redevelopment plan.  Next there will be new hospitality and dining concepts introduced, further expansion of waterfront amenities and guestrooms, restaurants and public spaces will be undergoing extensive renovations.  Goal is to position the property as a luxury boutique hotel with four-star status. 

During construction, WaterColors new menu will be served in Carmen’s which boasts sweeping penthouse-level panoramic views of Lake Boca, Intracoastal and Atlantic Ocean.  Every guestroom at The Bridge Hotel has panoramic water views.  Location is 999 East Camino Real at A1A’s south end of the bridge.

A DILEMMA TO BE DECIDED ABOUT EXPANDING FLORIDA MEDICAID

NEWS YOU SHOULD KNOW:
Here is a link to an article that explains the dilemma and highlights three studies about it... and asks if Florida can really count on this government funding in light of our national deficit:
 
http://www.healthnewsflorida.org/top_story/read/could_medicaid_expansion_pay_off

UPDATE ON FORECLOSURES

Zillow analysts state that foreclosure home buyers in Palm Beach, Broward and Miami Dade counties could only expect a 2.9% savings in September compared to available homes NOT sold at a distressed price.  Discounts are shrinking on distressed properties.

Zillow further states that same time last year the discount was 6.8%, and in August 2008, the peak foreclosure month in South Florida: 22.7%.  If investors can’t purchase a property they can fix up and sell at a profit, they have no incentive to buy.  For buyers who want to buy, rent the property out and sell later at a profit, it is harder and harder to find a property that meets the profit criteria.

Home buyers getting a mortgage may find the distressed properties don’t appraise to the list price.