Parkland Parrot

Archive for January, 2010

New Federal Chinese Drywall Identification Guidelines

More federal regulations were recently passed for proper detection and inspection of Chinese Drywall.  Parkland and other South Florida residents concerned that their homes are effected with Chinese Drywall need to make sure to follow the new U.S. Department of Housing and Urban Development and the Consumer Product Safety Commission’s  four-page report.

All in all, homeowners effected by Chinese Drywall must hire professional inspection companies that specialize in finding the tainted Chinese Drywall by identifying the presence of metal corrosion and other visual problems.

Other articles on Chinese Drywall:

• Dog Sniffing Out Chinese Drywall In Parkland?
• Unlike Florida, Louisiana Passes Law For 5 Million For Chinese Drywall Repairs
• 50% Reduction In 2009 Taxes For Homeowners Affected By 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.

FHA Mortgage Guidelines Will Tighten In The Spring

I was quoted today in the Sun-Sentinel article regarding the recent announcement that FHA mortgage guidelines will tighten in the Spring and Summer of 2010.

FHA Mortgages are very popular and account for over half of all purchases for first-time homebuyers.  FHA Mortgages give buyers the opportunity to purchase property with a small down payment and also allow for seller concessions to help with closing costs.

Here are the changes that will take effect in the Spring/Summer of 2010:

• .50 percent increase in insurance premiums from 1.75 percent to 2.25 percent of the value of the loans.
• 3% seller concessions instead of 6% of the sales price to help buyers with closing costs or to buy down interest rates.
• Borrowers with credits scores under 580 will have to put down 10% of the purchase price instead of 3.5% of the purchase price.

FHA insured 5.8 million single family homes with mortgages valued at $750 billion in 2009.  FHA is trying to learn from the lending mistakes of the past, as last year’s cash reserves drastically declined below a level that Congress and the government requires.

Great news is that mortgage rates are still at record lows, and the $8,000 tax credit is still in effect until this Summer.  After hearing about the new FHA guidelines that will take effect, I am telling “on the fence” potential buyers that NOW is the time to purchase a home in Parkland or anywhere in South Florida!

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.

Sellers Riding Parkland Real Estate Roller Coaster?

Price Your Home Accordingly From Day One And Don’t Ride The Real Estate Roller Coaster

After closing our recent Pine Tree Estates home located at 6213 N.W. 63rd Way, Parkland, FL 33067 last week, I thought about how this particular seller rode the real estate roller coaster for the past few years.  He had gone through three top-producing local Realtors, before our team listed and sold his home in under 50 days!  He told me that they had an offer a year and a half ago for 1 million dollars, which he did not take!  As a result, he ended up selling his home in the $800,000’s, which is top-market price today!

I performed some further research using the 33 single family homes that sold in December, 2009. On average, each home ended up selling for approximately 25% less than it was originally listed for.  Of course, some sellers had their homes on the market in 2005 and had unrealistic expectations.

But, many of your fellow Parkland neighbors decided to ride the Parkland real estate roller coaster.  Unfortunately, the price of the ticket costs tens of thousands of dollars!

We recently went to contract on our listing in North Pine Tree Estates located at 6920 N.W. 66th Ave, Parkland, FL 33067.  We provided our sellers with this useful information about proper pricing.  Fortunately, both of our recent sellers had their homes under contract in under 50 days!! Best news is that they did not have to ride the Parkland real estate roller coaster.

As home values continue to settle this year, sellers need to understand that pricing is imperative in today’s real estate market.  It is very important to interview the right agent for the job of selling your home who is looking to actually SELL your listing and not just take your listing! Or else, you, your family, and your Realtor should be prepared to buckle up and ride the real estate roller coaster! Are you afraid of heights?

If you are thinking about selling your home, or know someone looking to sell, please give us a call at 954-609-0591 or send a note to the squawk.

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.

We Just Sold 2 Parkland Pine Tree Estates Homes

Calling All Parkland Homeowners & Potential  Home Sellers!

The Parkland Parrot Real Estate Team Did It Again!  We just sold two Pine Tree Estates homes for top market dollar!  Ask your neighbors who is REALLY selling in Parkland!

6213 N.W. 63rd Way, Parkland Pine Tree Estates: $899,000

Stunning 5 Beds/5 Baths Pool Home, 5,200 Sq. Ft. Under A/C, Newer Kitchen w/Wood Mode Cabinets, Granite Counters, Island, Separate Bar w/Granite Counters, Billiard Room/Cinema Room, Separate Guest Suite w/Kitchen & Separate Bed & Full Bath, Private Master Spa With Jetted Tub & Separate Large Shower, Italian Marble Floors & Counters,  Spacious Pool & Spa, Lush Landscaping.

George & Marlene S:  “Awesome job! Couldn’t ask for better service & results!  Michael & Rosy got the deal done & handled the entire process with pure professionalism.”

5741 N.W. 66th Way, Parkland Pine Tree Estates: $500,000

Short Sale Listing! Over 3+ Acres That Can Be Subdividable Into 2 Parcels, 7 Bedrooms, 4.5 Bathrooms, New Roof, Heated Pool, Bring Your Horses! 2 Stall Barn & Tack Room, Lots Of Space To Build On With Endless Possibilities, Huge Bedrooms & Bathrooms, Wood Burning Fireplace, Great Investment.

Diane W: “I am extremely thankful for Rosy and Michael’s hard work and dedication to getting my home sold.  They are go-getters and truly available 24-7 whenever I had a question.  I strongly recommend them to anyone looking to sell.”

We would like to thank our Parkland sellers for entrusting our services!  We truly love what we do.  If you are thinking about selling your home, or know someone looking to sell, please give us a call at 954-609-0591 or send a note to the squawk.

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.

WCI Insurers Being Sued In Lawsuit For Chinese Drywall Coverage

More positive news that action is being taken against insurers to help cover victims of Chinese Dyrwall!  The Sun-Sentinel reports that a trust established by WCI Communities has filed a lawsuit against 14 Louisiana homebuilders’ insurance companies for $200 million dollars for defective wallboard.

This trust was formed after WCI, a Bonita-Springs based company, went bankrupt.  It is expected that 700 homeowners in Parkland and other areas are seeking retribution through this trust.

Lead counsel to the trustee, Robert M. Horkovich, said that it is imperative that the insurance companies cover the claims against WCI, so homeowners effected by Chinese Drywall can remediate their houses and cover their significant losses.

A list of the insurance companies being sued include the following:

• AIG’s American International Specialty Lines Insurance Company
• Lexington Insurance Company

Other articles on Chinese Drywall:

• Dog Sniffing Out Chinese Drywall In Parkland?
• Unlike Florida, Louisiana Passes Law For 5 Million For Chinese Drywall Repairs
• 50% Reduction In 2009 Taxes For Homeowners Affected By 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.