Parkland Parrot

Archive for November, 2009

Buyers That Are Prequalified or Preapproved?

Should A Buyer Be Prequalified or Preapproved?

With banks becoming even tighter on their financing criteria, many Parkland sellers and their real estate agents MUST make sure that buyers are truly qualified to purchase a home before entering into a purchase agreement.

Prequalification is the process where a lender or mortgage broker pulls credit and looks at the complete credit report of the borrower, as well as the  buyer’s income and debts.  As a result, a lender will be able to use this pertinent information to determine how much mortgage the potential purchaser can really afford. But, there is no bank accounts or employment verified during the prequalification process.

Preapproval occurs when ALL employment and credit is verified and approved by the lender or mortgage broker.  During the preapproval process, the potential buyer provides more detailed information in order to verify their statements.  After this information is verified, then the mortgage is approved, subject to a home appraisal.  The final loan is approved after the property appraises, and the bank receives all documentation and satisifes the contingencies and conditions of the loan before closing.

It is important for all sellers and Realtors to understand that a prequalification letter does not mean that a buyer is 100% able to purchase the said property.  When receiving offers on our Parkland property listings, we ask that ALL buyers are preapproved for a loan.  I really do not understand why a buyer would not make sure that they are truly approved to purchase a property in a particular price range and understand their exact terms and conditions of the loan.  As a result, the “prequalification letter” is just a piece of paper.  I want the preapproval letter and still have questions from the buyer’s mortgage lender before I even present the offer to my sellers!

The moral of the story is that with the lending institutions tightening their financing criterias, it is essential that all buyers get preapproved before looking at properties or at least before submitting a formal offer!

To stay updated with all of the current Parkland real estate home information, receive our blog posts directly to your inbox by subscribing to the squawk.

If you are interested in buying or selling a real estate property in Parkland, please give us a call at 954-609-0591 or send a note to the squawk.

Buying A Parkland Home Near Power Lines?

Does Living Near Powerlines Cause Cancer?

Recently, we have sold a few homes in Parkland that backup to the power lines.  We have received questions from potential Parkland buyers concerning the safety of living close to power lines.  The debate arises from the powerful but invisible electro-magnetic fields (EMF) caused when electricity passes through power lines.  EMF is also generated by our common household appliances such as our televisions, cell phones, computers, alarm clocks, and countless other items in our homes.

There has been extensive research performed by major health organizations such as the National Cancer Institute, the National Research Council, and the National Institutes of Health.  All of the reputable studies have concluded that there is no conclusive evidence that EMF exposure poses any cancerous or other negative health effects to homeowners that live near high voltage power lines.

Would We Personally Recommend Buying Homes On Power Lines?

There will always be clients that will never want to live on or even near power lines.  We believe it is a personal choice and would encourage a client to buy a property if the home met their purchasing criteria.  With the amount of time that we all spend on our cell phones and in front of our tv’s, as well as the extensive research in the past five years, we would move forward with buying a home on the power lines.

To stay updated with all of the current Parkland real estate home information, receive our blog posts directly to your inbox by subscribing to the squawk.

If you are interested in buying or selling a real estate property in Parkland, please give us a call at 954-609-0591 or send a note to the squawk.

2 Of Our Parkland Pine Tree Estates Listings Under Contract

We did it again!! This week two of our Parkland Pine Tree Estates listings went under contract.  In recent months, we have seen an increase in buyer activity on our Parkland listings, especially in Pine Tree Estates.  Many buyers are seeing the value in living in a non-association community.  Most of the homes in Pine Tree Estates are on 1.09 acres.

6213 N.W. 63rd Way, Parkland, FL 33067

Our 5/5 home that is approximately 5,200 square feet under air conditioning listed at $899,000 went under contract yesterday.  This home features a new kitchen and bathrooms and a separate guest suite and recreational room. Click Here For More Pictures & Details

5741 N.W. 66th Way, Parkland, FL 33067

After many months of negotiating with SunTrust Bank, we FINALLY received a written approval on our 3+ Acre Pine Tree Estates listing on 66th Way that was listed at $500,000.  This equestrian home features 8 bedrooms, pool, and over 3 acres of land that can be subdivided into 2 parcels.  Click Here For More Pictures & Details

To view more information on Pine Tree Estates as well as see all of the available inventory, please click here.  We will soon be listing a new Pine Tree Estates property, and The Squawk will certainly post on the Parkland Parrot website.  Have a great weekend!

To stay updated with all of the current Parkland real estate home information, receive our blog posts directly to your inbox by subscribing to the squawk.

If you are interested in buying or selling a real estate property in Pine Tree Estates or in another Parkland community, please give us a call at 954-609-0591 or send a note to the squawk.

23 Questions Sellers Must Ask When Interviewing A Realtor

When interviewing any agent to list your home, it is wise to ask questions that will reveal the agent’s ability to successfully accomplish your real estate goals.  Before our team goes on a listing appointment, we email or drop-off a Realtor-Questionnaire that ALL sellers should ask when interviewing the right agent for the job of selling their home.

No matter if the agent is your friend or even an agent that you worked with in the past,  the current market is unlike any other!  As a result, the older agent that sold homes at the height of the market might not truly be the best agent for the job.   Read on … Read the rest of this entry »

50% Reduction In 2009 Taxes For Homeowners Affected By Chinese Drywall

Lori Parrish and Broward County have responded to the recent Chinese Drywall problem that has affected many South Florida residents.  As a result of the damage, the county is reducing the building value of residents with Chinese Drywall in their residents by 50% in order to ensure fair property assessments. Homeowners must provide the necessary documentations in order to receive the reduction.

But, the only way that the county will know that your home has Chinese Drywall is to contact Residential Department Manager Bob Zbikowski by email or at 954.357.5880.

Also, don’t worry if you have not filed by the September 19th deadline, as you can still receive the 50% reduction by the Value Adjustment Board.  You can also reach the Value Adjustment Board via email at: vab@broward.org

I have been keeping a close eye on the Chinese Drywall issue in the City of Parkland and throughout the State of Florida.

Other articles on Chinese Drywall:

• December Chinese Drywall Deadline Fast Approaching
• FEMA Emergency Assistance To Chinese Drywall Victims?
• Finally Good News For WCI Homeowners With Chinese Drywall
• Parkland Chinese Drywall Task Force Established

To stay updated with all of the current Parkland real estate home information, receive our blog posts directly to your inbox by subscribing to the squawk.

If you are interested in buying or selling a real estate property in Parkland, please give us a call at 954-609-0591 or send a note to the squawk.