Parkland Parrot
Archive for the 'Buying' Category
Should Homebuyer Tax Credit Be Extended Yet Again?
Word on the streets is that the National Association of Realtors (NAR) is again lobbying lawmakers to extend the $8,000 first time home buyer tax credit until the end of 2010.
But, Senator Johnny Isakson, former real estate agent and last year’s advocate for the 2nd extension, is not on board. Last November, Linda Goold, NAR’s director of tax policy practically told the public and Realtors that the second tax credit extension would be the last one.
Can the government afford to extend the tax credit for a third term? Where are we getting all of this money since are deficit is at a record high level?
If the government extends the tax credit for a third time, it will help the real estate market. But, when the credit was extended in November, many buyers went “back on the fence” knowing that they had more time to purchase and still receive the $8,000 tax credit. Sales in November to February have been slow as buyers have more time to wait.
If the government announces that there will be no further extension, then there will be a strong urgency for potential buyers to purchase properties by the March 31st deadline! Please read my article on the tax credit guidelines by clicking: FHA Mortgage Guidelines Will Tighten In The Spring
Is South Florida Real Estate A Good Investment?
Is buying a home a good investment? Should I instead put my money in the stock market that seems to be rebounding? These are all questions that potential buyers are pondering as they sit on the real estate fence concerned if their real estate investment could be a profitable investment.
I recently read an article by MSN Money.com that studied the period from the beginning of 2000 to the end of 2010 of the stock market versus the real estate market. Above, please see their chart proving that real estate is the best long term investment.
If you would have invested $100,000 of your hard earned money in the Dow in 2000, you would have lost $5,000 and now be left with $95,000. Think that is upsetting, then take a look at the S&P 500. If you would have invested that same $100,000 in the S&P 500 in 2000, you would have taken a $20,000 loss and be left with only $80,000. Worst of the bunch would have been the NASDAQ. Invest your $100,000 inheritance in technology stocks, and you would have lost 40% of your money and only have $60,000 left to show for.
But despite all of the media buzz of the crash in the national real estate market in the past five years, if you would have taken the $100,000 and invested in the real estate property in January of 2000, you would have made $50,000 by the end of 2009 and have $150,000 in your pocket.
Of course, real estate is not like the stock market! If you are looking for a quick return on your investment, then real estate is not for you. But, if you are looking for a long-term investment with excellent returns, real estate is and always will be the best return on your investment for you and your family.
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.
What Parkland Home Can I Buy For Around $500,000?
Many of our clients and subscribers to our website are asking how far their money can go for a Parkland home. As a result, below, you will find five active properties that are priced around the $500,000 mark.
Heron Bay: The Glen
8076 NW 111th Terrace
5 Beds / 3 Baths
2,878 Square Feet
Amazing 5 Br/3Bth/2Cg Pool & Spa Lakefront Home In The Heart Of Heron Bay On Corner Cul-De-Sac Lot. Upgrades Included Fully Udated Kitchen With Stainless Steel Appliances, Granite Countertops & Upgraded Cabinets. Triple-Split Floor Plan.
Click Here For More Information On This Listing
The Landings At Parkland
6010 NW 99TH AV
4 Beds / 3 Baths
2,709 Square Feet
Breathtaking Lake Views, Home In Excellent Condition! Brand New S-Tile Roof, Newer A/C Unit, Newer Appliances, Accordion Hurricane Shutters, Master Bed Features 3 Walk-In Closets, Diamonbrited Pool.
Click Here For More Information On This Listing
Heron Bay The Reserve
11522 NW 75TH Manor
5 Beds / 3 Baths
2,720 Square Feet
Totally Turn Key, Impeccable 1 Story home on An Oversized Cul-De-Sac-Lot With Plenty Of Room For A Pool, Upgraded Kitchen With 42′ Cabinets, Granite Countertops, Hurricane Shutters, Crown Molding, Lush Landscaping.
Click Here For More Information On This Listing
Parkland Isles
6372 NW 108th Terrace
5 Beds / 3 Baths
2,671 Square Feet
Pool & Lake
Magnificent Lakefront Home With 125′ Of Lake Front Footage. Grand Foyer Entrance With 12′ ceilings, Upgraded Kitchen With 42′ Cabinets, Crown Molding, Granite Counters, 18′ Stone Tile Throughout Living Area, Screened In Patio, Heated Pool & Spa.
Click Here For More Information On This Listing
Pine Tree Estates
6038 NW 63rd Way
4 Beds / 2 Baths
2,300 Square Feet
Beautiful Home On Nicely Landscaped 1 Acre Lot. Newly Renovated Kitchen With Cherry Wood Cabinets, Granite Countertops, Newly Renovated Master Bathroom With Granite Countertops, Oversized Walk-In Shower, Upgraded A/C Unit; Wood Burning Double Fireplace. No Homeowners & Very Quiet neighborhood.
Click Here For More Information On This Listing
If you are interested in viewing any of these homes or any other Parkland homes for sales, please give us a call at 954-609-0591 or email us at Michael@ParklandParrot.com. Please click here to view all of the available Parkland homes on the market.
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.
Realtors Do Not Just Sell Real Estate
In today’s economic uncertainty where the public is dealing with failed businesses, health issues, and job losses, it can be more difficult to operate as a real estate professional. When you think of a real estate agent, you may think that we just help people buy and sell properties. But, the real estate profession has also gone through dramatic changes over the past few years. There is much more that goes into being a real estate professional than just helping people buy and sell.
In the current real estate market, many of our clients are experiencing hardship such as a divorce, death in the family, or recent job loss. As a real estate consultant, we have to be patient and help our clients throughout the entire process. Many times we have to put on our psychology hats and really listen to our clients current situation and help them make the best life decision, which may not only be a real estate issue.
When clients do not return phone calls or sometimes do not value our time, we now take a step back and remember that their actions may not have anything to do with real estate. There are many personal issues that seem to arise during the process of buying or selling that may result in our clients becoming frustrated or emotional. As real estate consultants, we do not always know what is going on behind closed doors.
As a result, we must not take it personally and only think about ME. Instead, our team takes a different approach that involves a WE relationship with our clients. We understand that buying or selling a home is a team effort no matter how you look at it. We must have a very personable relationship with our clients and be accessible throughout the entire process in order for our clients to feel as comfortable as humanly possible.
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.
Search Over 250 Active Parkland Homes For Sale
What Homes Are Currently Available In The City of Parkland?
Click Here To Search Over 250 Parkland Homes On The Marked For Sale
The Parkland Parrot Real Estate Team has also designed a customized website where potential buyers and sellers can view all of the active homes on the market separated by neighborhood. Please view the right side of our website to view all of the neighborhoods in Parkland. On each neighborhood page, you will find a plethora of information on each community along with the opportunity to view all of the available homes in that particular neighborhood:
We are dedicated to providing updated Parkland real estate information, monthly market updates, and much more to the public. More and more people are visiting our website, and we look forward to becoming your ultimate real estate resource for Parkland.
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.
Is Now The Best Time To Buy A Parkland Home?
Realtor Michael Citron of the Parkland Parrot Real Estate Team at RE/MAX answers the question if NOW is the best time to buy a home in Parkland or 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.
Buyers Can Steal Parkland Chinese Drywall Homes
Calling All Parkland Chinese Drywall Potential Buyers
We have written numerous articles on Chinese Drywall and how it effects the Parkland community here on our website. But, we have not discussed and showcased the current active homes in Parkland that were built using Chinese Drywall.
Many of our clients and readers have asked us for information regarding purchasing these homes at significantly discounted prices. The communities that have been effected by Chinese Drywall are Heron Bay and Parkland Golf And Country Club. The two single-family subdivisions in Heron Bay that have homes with Chinese Drywall issues are Banyan Isles and Sable Pointe.
Please click on the following hyperlink: Parkland Available Homes With Chinese Drywall to search the current inventory of Parkland homes on the market for sale with Chinese Drywall. If you are a cash buyer and willing to pay to fix the problem, then there are some great deals out there. Prices are as low as the $200,000 to $300,000’s, as banks want to sell these homes as soon as possible.
We are working with local, licensed Chinese Drywall inspectors that can help detect and give estimates to clear the Chinese Drywall problem. Remember, that banks are not financing homes that have evidence of Chinese Drywall. As a result, cash is king! Banks are willing to take huge losses. Their loss could be your gain!
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.
Buyer Demand For Renovation Financing?
I was reading Brian Brady’s blog Mortgage Rate Report, and he was discussing the new demand for renovation financing for buyers. Brady discussed the need for creative renovation financing, as mortgage rates will rise in the coming months. As many distressed properties are on the market and coming on the market, perspective buyers are looking for ways to purchase these distressed properties at significantly discounted prices and finance the improvements needed in their loans.
Also, going green is also become extremely popular for homeowners. Potential home buyers are looking for tax credits and special financing in order to make their homes more energy efficient. The IRS is currently offering a partial tax credit for energy efficiency improvements. Brady goes on to describe the 5 loan programs where buyers are financing over the purchase price for energy efficiency and other home improvements:
- VA Energy Efficient Mortgage permits the financing of energy efficiency improvements up to $6,000.
- FHA 203-K Renovation Mortgage allows the financing of larger renovation projects.
- FHA Streamline-K Home Improvement Loan allows homebuyers to finance their renovation project up to $35,000 over the purchase price.
- Fannie Mae Energy Efficient Mortgage permits the allowance of up to 115% of the purchase price of a resale property to be financed for energy efficiency. Newly built homes are permitted up to 105% of the purchase price for energy efficiency updates.
- FHA Energy Efficient Mortgage, similar to Fannie Mae’s program, allows home buyers to finance up to 105% of the purchase price for energy efficiency improvements.
These loans will become even more popular as potential buyers continue to purchase bank foreclosures and short sales. Many times, these distressed sales need many structural and cosmetic updating along with energy efficiency upgrades. Remember, that financing over the purchase price means that the property must appraise for that price. It is essential to work with a mortgage broker and Realtor that specialize in the above financing. These are not the easiest loans to put together, so do your homework and work with true experts.
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.
Dog Sniffing Out Chinese Drywall In Parkland?
For decades, dog-sniffing canines have been used to detect bombs and drugs. Now, these trained dogs are being used to detect Chinese Drywall in South Florida homes.
K-9 Detection Services is a local company combining trained police dogs and home inspection. The dogs are trained to sniff out sulfur, which is the common chemical in Chinese Drywall. The rotten egg-like odor that comes from Chinese Drywall can sometimes take years for humans to smell. But, these trained canines are able to detect Chinese Drywall at a very early stage.
Homeowners usually spend hundreds to thousands of dollars just to test for Chinese Drywall. Now, using trained dogs can be a lot cheaper and just as effective. There are as many as 36,000 Florida homes that have Chinese Drywall, which corrodes appliances and wiring.
If a perspective buyer is looking to purchase a newly built home from 2001 or sooner, it is advisable to test for Chinese Drywall. Also, homeowners experiencing the side effects should also have their homes tested. K-9 Detection Services can be reached at: 800-381-2055. Hopefully, more federal and state relief will come to homeowners effected by Chinese Drywall.
Other articles on Chinese Drywall:
- 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.
Michael Citron / Rosy Baron
Parkland Specialists
RE/MAX ParkCreek
Direct:954-609-0591
Office:954-449-9704
Email:Link
