Parkland Parrot

Archive for the 'Buying' Category

Parkland Real Estate Agent Michael Citron Featured In Sun-Sentinel

Sun-Sentinel Interviews Parkland Parrot Real Estate Team

New Year’s is Here!  Everyone wants to know what the real estate market will be like in 2010.  Sun-Sentinel real estate writer, Paul Owers interviewed the Parkland Squawk along with one of our sellers to get our perspectives on the 2010 South Florida real estate market.  The article can be read in its entirety by clicking: Selling a home in the new year? Don’t delay.

Our expert advice is if you have equity in your home, it may be the best time to sell!  Parkland home inventory is at a record low, and buyers are still looking to take advantage of low interest rates, the first-time-home-buyer tax credit, and lower home prices.

Please also be aware that there is also a new $6,500 government tax credit for potential homeowners that have owned a homesteaded property for at least 5 years.  These owners that sell and then buy a home this year can receive a $6,500 tax credit, which could significantly help with closing fees or repairs on a new property.

The Parkland Parrot Team wants to personally thank Paul Owers of the Sun-Sentinel.  If you do not already read the Sentinel’s House Keys real estate blog, we strongly recommend it.

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.

Parkland Pine Tree Estates New Listing At 6920 NW 66TH AV

Our New Parkland Listing At: 6920 NW 66TH AV, Parkland, FL 33067

We just listed another gorgeous Parkland North Pine Tree Estates home.  This 4 bedroom/3 bath home on 66th Avenue is priced at $799,900.

The home is located on a private natural preserve and has recently been beautifully renovated.  The lush landscaping and stunning tumble marble driveway leads to a true dream home.

Details:

• New Master Bathroom With Jacuzzi Tub & Marble Floors
• Tumble Marble Driveway Leading To 3-Car Garage
• New Glazed S-Tile Roof
• Limestone Pavered Patio Area Overlooking Natural Preserve
• Coral Stone Fireplace
• New Kitchen With Stainless Steel Appliances & Granite Countertops
• Tray Ceilings
• Crown Molding Throughout Homes & Much More

Please Click Here to view more pictures and complete details

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 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.

Parkland Real Estate Roundup January To Date

Parkland Real Estate Home Market Activity

As we get closer towards the end of the calendar year, I wanted to research what types of homes have been selling in Parkland.  After further research, there have been a total of 274 single family sales year to date.  Among the 274 sales, 107 were distressed sales (Short sales or bank foreclosures), and 167 were regular sales.

It is amazing to believe that distressed sales are becoming even more prevalent in Parkland.  Almost 40% of the total sales were foreclosures or short sales in 2009.  Even in a luxury market like Parkland, distressed sales are going to continue to grow in 2010.

I also researched and found that there are currently 78 pending short sales, and 16 pending bank foreclosures, where potential buyers and sellers are anxiously awaiting approvals from the banks.  There are ONLY 31 pending regular sales awaiting to be closed.

If you have owned a home in Parkland for an extended period of time  and are not in financial distress, it may be a perfect time to list your home on the market.  Many buyers want to close sooner than later and do not wish to experience the long process of purchasing a distressed sale.  Your home may be worth more than you think! You may also be able to take advantage of portability on your taxes to another property.  Please give us a call at 954-609-0591 for a free comparative market analysis.

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.