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Archive for October, 2009
First Time Home Buyer Credit Band-Aid?
The real estate market has shown signs of life in the past year as sales have picked up, and inventory has dropped nationally. As a real estate agent, I know that many Realtors would be out of the business if this tax credit was not implemented for 2009.
I must speak the truth as a local expert real estate agent. I think that the $8,000 tax credit is great for first time home buyers. But, what is going to happen when eventually Uncle Sam stops writing checks? Did you know that according to the National Association of Realtors that 45% of all buyers this year were first time-homebuyers?
As I ponder the thought of this statistic, I remember the same National Association of Realtors announcing that at the height of the real estate market that approximately 40% of all home purchases were investment properties or secondary homes. Are we leading down the same path? Have we not yet learned from our mistakes?
Are first time home buyers ONLY purchasing properties before the November 30th deadline, so the government can put some much needed cash in their pockets? In luxury real estate markets, like Parkland, first time home buyers are not a strong driving force for an increase in sales. Many Parkland sellers are not seeing the dramatic increase in sales like neighboring communities.
So, the moral of the story is that Parkland is not out of the wood work just yet. Sellers should expect that prices will continue to decline and stabilize into 2010. Inventory has dropped, but is that because more sales are occurring or because potential home sellers are seeing the real estate reality and just taking their homes off the market? Also, there are over 70 pending single family short sales in Parkland. What percentage of these pending Parkland short sales will actually close or go back on the market, or worse become foreclosures?
These questions should be addressed in our local and national media, but of course only the popular news is getting attention. Instead of learning from the past, the media is continuing to highlight whatever it thinks is newsworthy for today and not looking at the bigger picture. Unfortunately, once again, misinformed buyers and sellers are not reading between the lines!
To stay updated with all of the current Parkland real estate information, receive our blog posts directly to your inbox by subscribing to the squawk.
If you are interested in buying or selling real estate in Parkland, please give us a call at 954-609-0591 or send a note to the squawk.
New Good Faith Estimates Debut January 1st 2010
The Department of Housing and Urban Development recently released the new Good Faith Estimate that all lenders will be required to use on January 1, 2010. Before you start pounding your head against the wall saying, “Why, Why, Why?,” this new form is a dramatic improvement from what lenders have been showing borrowers in the past. As a result, lenders and mortgage brokers will not be able to hide their fees and be able explain the entire good faith breakdown to their perspective clients.
The new Good Faith Estimate is three pages long and the new helpful sections include:
- Important Dates with the length of the rate and terms being offered and the terms of the rate lock.
- Summary of the loan including the rate, whether it is adjustable, negative amortizing, or subject to prepayment penalties Escrow Account explanation and information.
- Summary of Loan Charges set in black and white for easy explanation and understanding.
- Origination Charges that the lender is charging.
- Other Settlement Charges making clear third party fees not given to the lender.
- Instructions clearly stating which charges cannot be increased at closing.
- Trade-off Table displaying how the lender compares how interest rate (payment) and closing fees move in opposite directions for the same loan as the interest rate moves higher or lower than that quoted by the lender.
- Shopping Cart which gives the borrower an organized way to compare lenders possibly to shop for a better rate if possible.
This new Good Faith Estimate is transparent and can easily be understood by borrowers. Gone are the days when a lender will be able to put a hidden fee on the closing statement. Now, everything has to be disclosed and properly explained in detail to all potential buyers. Our team works with mortgage professionals that are dedicated to their profession and are now using this new estimate guideline. I am confident that this new standard will help the local Parkland real estate and mortgage business by now providing clear explanations of all of the fees before clients get to the closing table. Our clients will be more informed as soon as they start the home buying process. As a result, we, as Realtors, can now focus our efforts on helping our clients find the best homes on the market!
To stay updated with all of the current Parkland real estate information, receive our blog posts directly to your inbox by subscribing to the squawk.
If you are interested in buying or selling real estate in Parkland, please give us a call at 954-609-0591 or send a note to the squawk.
Parkland Liberty Park 7 Acre Kid Paradise
Looking for the perfect park in Parkland to relax and spend time with the family? Well, Liberty Park is a 7 acre kid paradise that includes a playground that encompasses a full 1 acre of the park.
Liberty Park also features a water play area that your children will spend hours at. Families are encouraged to picnic and barbecue at the park’s large pavilion or 2 additional smaller pavilions to use. Other Liberty Park amenities include:
Restroom Facilities, Horse Corral, and Grills.
Residents can reserve a pavilion by contacting the Parks and Recreational Department at (954) 753-5040. Liberty Park is located at 9200 Ranch Road. Click Here For Map
If you are interested in reserving a pavilion please feel free to contact the Parks and Recreation Department at (954) 753-5040.
Other Parkland Parks Include:
To stay updated with all of the current Parkland real estate information, receive our blog posts directly to your inbox by subscribing to the squawk.
If you are interested in buying or selling real estate in Parkland, please give us a call at 954-609-0591 or send a note to the squawk.
Parkland Pine Trails Park
Pine Trails Park has it all for your kids and family and is one of the most popular and beautiful parks in the City of Parkland.
The park features two lighted basketball courts, four T-Ball fields, and four multi-purpose fields which houses baseball soccer, lacrosse and football programs throughout the year.
The City of Parkland also hosts concert series every second Saturday of each month at the City’s Parks and Recreational.
Earlier this year, the Parkland YMCA Family Center was opened next to Pine Trails Park and provides youth services and programs to Parkland residents.
Extending first-class leisure and amenities, Pine Trails Park also hosts various events including the City of Parkland Fishing Derby.Pine Trails Park.
Pine Trails Park is located at 10555 Trails End.
Other Parkland Parks Include:
- John Quigley Park
- Equestrian Center at Temple Park
- Covered Bridge Park
- Doris Davis Forman Preserve
- Terramar Park
- Liberty Park
To stay updated with all of the current Parkland real estate information, receive our blog posts directly to your inbox by subscribing to the squawk.
If you are interested in buying or selling real estate in Parkland, please give us a call at 954-609-0591 or send a note to the squawk.
Parkland Covered Bridge Park
Opened in 2003, Covered Bridge Park is a small public park maintained by t
he City of Parkland. The park features a walking trail and covered bridge over a canal, which has an access trail to nearby Six Acre Wood Park.
Covered Bridge Park is located at 6031 Holmberg Road, just west of 441 on the north side of Holmberg Road. The address is: 6031 Holmberg Road
Click Here For Map
Please note that pavilion reservations are for only Parkland residents.
Other Parkland Parks Include:
- Equestrian Center at Temple Park
- Doris Davis Forman Preserve
- Pine Trails Park
- Terramar Park
- Liberty Park
- John Quigley Park
To stay updated with all of the current Parkland real estate information, receive our blog posts directly to your inbox by subscribing to the squawk.
If you are interested in buying or selling real estate in Parkland, please give us a call at 954-609-0591 or send a note to the squawk.
Has The Regular Sale Become An Endangered Species?
Short Sales … Enter At Your Own Risk!
Regular Sale … You Know The Home That Is NOT A Distressed Sale, Foreclosure, Short Sale, Or Wait Forever To Hear From A Bank Property Listing …
The regular sale has become an endangered species as more and more properties being sold around the country are distressed sales! But, my question is will this trend continue as the press boasts how these homes are the BEST Deals out there on the market? Unfortunately, you do not hear the negatives of buying a distressed sale in today’s market.
Become An Informed Buyer:
Below, please find a list of the 6 negatives of purchasing a distressed sale: Read the rest of this entry »
Parkland Youth Comes To John Quigley Park
Parkland’s Quigley Park
Looking for the optimum spot for jogging and playing Frisbee in Parkland, Florida? Then, Quigley Park is the place for you and your family to enjoy! This park hosts many little leagues for Parkland youngsters including T-Ball and Coach Pitch as well as soccer and flag football.
Quigley Park, a five acre park, was named after John H. Quigley and dedicated in 1989 in his honor. The park holds 4 lighted t-ball fields, 2 lighted soccer fields, and a baseball/football field. 
Quigley Park amenities include:
- Four (4) small sided soccer fields
- Four (4) Baseball Fields
- One (1) football field
- A pavilion which is available for rental.
- A playground, concession building, restrooms
Quigley Park also hosts the Soccer Buddy program, which is a program for special needs children to come out and enjoy the game of soccer.
To learn more information on Parkland Quigley Park or to reserve a pavilion, please contact the Parks and Recreation Department by calling 954-753-5040. Please note that pavilion reservations are for only Parkland residents.
Other Parkland Parks Include:
To stay updated with all of the current Parkland real estate information, receive our blog posts directly to your inbox by subscribing to the squawk.
If you are interested in buying or selling real estate in Parkland, please give us a call at 954-609-0591 or send a note to the squawk.
Parkland Home Equity Is Not Money In The Bank
I hate to play financial adviser but ponder this thought:
If your banker told you that for the next 6-12 months that instead of giving you interest on your money, the bank would instead be pulling about 1-2% of your money out of the bank EVERY Month! What would you do?
If your home was a bank, it would tell you to immediately withdraw your hard-earned money! As the market continues to settle, many homeowners that did not purchase a home in the last four years and did not refinance their loans are truly in the driver’s seat! But, the only way to capitalize on homeowners’ good fortune is to sell while the equity is higher than it will be in the coming months.
We all watch and read the news! All the research points to the market continuing its adjustment phase. I strongly believe that our market will level in the next year or so and become like the market of early 1990’s. During the 1990’s, the real estate market did not appreciate at a rapid pace like it did five years ago.
Back then, homeowners would see a comfortable 1-2% appreciation per year. But before we get to that day, the market is still coming down! Read the rest of this entry »
Parkland Doris Davis Forman Wilderness Preserve
Parkland’s Doris Davis Forman Wilderness Preserve
Another Parkland gem that residents can appreciate is Doris Davis Forman Wilderness Preserve. This preservation area is located in the heart of the City of Parkland. The site amenities included a 5-foot-wide, 900-foot-long pedestrian trail and 1,550 foot-long boardwalk that leads directly through the cypress wetlands and oak hammock.
The preserve also has two seating/observation areas and a 30-foot by 30-foot pavilion area located along the trail for residents to relax and take in the natural beauty that the Parkland reserve has to offer its residents.
The Doris Davis Forman Wilderness Preserve was named after Doris Davis Forman. Cooperative efforts from the Forman family and the City of Parkland has enabled this precious and endangered 20-acre site to be restored and opened to the Parkland public. The Parkland community is encouraged to enjoy this native preserve for many years to come and to show their children the beauty of nature for future generations.
For more information on the Doris Davis Forman Wilderness Preserve’s upcoming events, please contact the Parks and Recreational Department at 954-753-5040.
Other Parkland Parks Include:
- John Quigley Park
- Equestrian Center at Temple Park
- Covered Bridge Park
- Pine Trails Park
- Terramar Park
- Liberty Park
To stay updated with all of the current Parkland real estate information, receive our blog posts directly to your inbox by subscribing to the squawk.
If you are interested in buying or selling real estate in Parkland, please give us a call at 954-609-0591 or send a note to the squawk.
Bring Your Horses to the Equestrian Center at Temple Park
Parkland Equestrian Center at Temple Park
Parkland is a horse-friendly community where many homeowners, especially in Pine Tree Estates and BBB Ranches come to ride their horse at the Equestrian Center At Temple Park. Many horse riders frequent the center because of its open spaces and 2 Equestrian horseback riding rings.
Other amenities at the park include concession building and restroom facilities and a picnic pavilion with barbecue. Many residents make it a day at the Equestrian Center to enjoy horseback riding and picnics at the park. The Equestrian Center at Temple Park is also the only park in Parkland that allows residents to bring their pets. As a result, many weekends, you can find Parkland horses and k9’s adorning the park.
The Equestrian Center at Temple Park also has a Park Ranger on site. Residents and visitors are encouraged to ask the rangers any questions about the local wildlife or rules and regulations of the center. Park pavilions can be reserved by calling the Parks and Recreation Department at (954) 753-5040. Also, only Parkland residents can reserve a pavilion.
Parkland equestrian enthusiasts are also encouraged to join the Parkland Horseman’s Association, established in the late 1970’s, which is a non-profit organization. This organization promotes horsemanship and horse riding and showing, especially for the Parkland youth. Currently, the group has over 300 members and organizes various shows and educational clinics throughout the year. For more information please visit the Parkland Horseman’s Association website or call 954-798-7488.
- John Quigley Park
- Covered Bridge Park
- Doris Davis Forman Preserve
- Pine Trails Park
- Terramar Park
- Liberty Park
To stay updated with all of the current Parkland real estate information, receive our blog posts directly to your inbox by subscribing to the squawk.
If you are interested in buying or selling real estate in Parkland, please give us a call at 954-609-0591 or send a note to the squawk.
Michael Citron / Rosy Baron
Parkland Specialists
RE/MAX ParkCreek
Direct:954-609-0591
Office:954-449-9704
Email:Link
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