As soon as the city closes its doors for good on Wednesday, condo owners and tenants will have to find new places to live and shop.
In the city of Palm Beach, there are over 8,000 condo units and condos on the market that were foreclosed on.
The average condo sale price in Palm Beach County is about $1 million, and the median condo sale value in Palm Springs is $1.1 million.
In Palm Beach county alone, there were more than 4,500 foreclosed condo units, and almost a third of those are in the city.
It’s been an arduous process for many residents, many of whom had no idea their condos would be foreclosed upon.
“The problem is, we don’t know what the city is going to do, we’re not really informed.
We’re all kind of waiting,” said John, who asked that his last name not be used.
“The city is still very much under the microscope, and there’s been a lot of pressure,” he said.
When the city closed its doors on July 5, many residents were surprised, and were upset.
Many said the city did not provide them with any information about the future plans of the property or when they might be able to sell their homes.
The city said in a press release that they were still evaluating a potential sale of the properties, but it’s been reported that many condos have been sold in recent weeks, and that there are more units available in the market.
Many of the residents said that when they first learned that the city was closing, they were skeptical about any potential sale.
“I think it was more of a fear of being left behind, than anything else,” said James.
“It was kind of a shock, and I didn’t really expect anything like this to happen.
But now, it’s just the normal thing to be worried about, like being homeless.
I think it’s a big part of our life here, just like a lot are wondering.”
Many residents said they have little to no confidence in the upcoming development of the city, and said that while they understand the challenges, they don’t feel that it is fair that they can’t sell their condos.
“At this point, I don’t really know what they’re planning for the future,” said David.
While the city has been very open about the process of how they will handle this situation, some residents are still left with little hope.
“We have no clue what the future will bring,” said Mary, who was looking to sell her condo.
“Even if they’re going to be making some money off it, we won’t know until they actually start selling.”
Despite the many residents who have received a phone call and are unsure of the future, many are still hopeful that they will soon be able find a place to live, shop, and have fun.
The city has said that the condo owners are in negotiations with other condo owners to make deals for them.
However, there is no guarantee that these negotiations will be successful, and some residents expressed concern that they might have to leave their homes in order to secure an agreement.
“That’s a huge fear right now,” said Julie, who is a student.
“You’re like, ‘Why am I in a condo?’
I don’ know what’s going to happen to me.
I mean, if they don’ make any money off this, I’m not sure what they’ll do with it.”