Parkland Parrot

Archive for the 'Short Sales' Category

Another Successful Short Sale Negotiated For Parkland Cypress Head Seller

Parkland Real Estate Agent Michael Citron Helps Negotiate Successful Short Sale

It is a pleasure to announce that the Parkland Parrot Real Estate Team just successfully help negotiate a short sale for a client of ours in the Cypress Head community.  Bank Of America agreed to accept almost $500,000 less than was was owed and gave my client a full release for the deficiency.

Our client was ecstatic to be able to successfully short sale his Cypress Head home in Parkland, Florida and now be able to move on with his life. The government implemented the Home Affordable Foreclosure Alternatives (HAFA) program which is in place to help homeowners settle their mortgage debt without going through a foreclosure.  The goal of this program is to help homeowners sell their properties through the short sale process and settle their mortgage debt if they owe more on the mortgage than what the home is actually worth.  With the help of this program, the short sale process is streamlined and also offers financial assistance to help with relocation.  In particular, our client in Cypress Head was even given $3,000 from this program in moving costs.

On Bank Of America’s website, here is the qualification to be eligible for the HAFA program:

1.  The property is your current principal residence, OR the property has been vacant or rented out for less than 12 months, and you have not bought another principal residence during that time.

It is a great pleasure for our team to be able to help someone in need and get them on to the next step in their lives.  In particular, this stressful situation was handled with the utmost professionalism and care.  Our short sale clients truly understand that we have their best interests in mind and are here to help throughout the entire process.  We were able to close this transaction in only 4 months, where most short sales take approximately 6-8 months to get done.

If you know anyone in Parkland or South Florida who is “underwater” on their home, tell them to give me a call directly at: 954-609-0591, so I can help answer all of their questions and concerns and provide them with pertinent short sale information.

Know the neighborhood. Know the value. Know your hometown agents: The Parkland Parrot Real Estate Team. If you are interested in buying or selling real estate in Parkland or South Florida and are looking for experienced local Realtors, please do not hesitate to contact the Squawk at 954-609-0591 or send us a message here.

39 Parkland Florida Homes Sold In June 2011

Parkland Real Estate Single Family Market Home Update For June 2011 Presented By Realtor Michael Citron

Property Address	Type Of Listing	Community	Price	Beds/Baths	Square Feet
6875 NW 84TH AV	Regular Sale	BBB Ranches	$1,100,000	3/3.5	4,800
7261 Lemon Grass Drive	Short Sale	Parkland Golf & CC	$840,000	8/6.5	5,850
6332 NW 77TH TER	Regular Sale	Pine Tree Estates	$755.000	6/4.5	3,819
10475 NW 69TH MNR	Regular Sale	Fox Ridge	$760,000	6/4.5	4,065
8100 BLUE RIDGE LN	Regular Sale	Cypress Head	$749,000	5/4	4,699
10321 Majestic Trail	Regular Sale	Parkland Estates	$670,000	5/3.5	3,586
10481 Majestic Trail	Short Sale	Parkland Estates	$685,000	5/4.5	4,091
12785 NW 69TH CT	Regular Sale	Heron Bay – Waterford Estates	$565,000	3/3	3,427
7015 NW 70TH TE	Regular Sale	Ternbridge Estates	$578,000	4/5	3,359
6261 NW 79TH WAY	Regular Sale	Pine Tree Estates	$594,500	5/3.5	3,197
9925 NW 66TH MNR	Short Sale	Meadow Run	$500,000	5/3	4,437
6900 LONG LEAF DR	Short Sale	Parkland Golf & CC	$505,000	5/4.5	5,204
6156 NW 72ND WAY	Short Sale	Pine Tree Estates	$590,000	5/3	3,637
7466 NW 116TH LN	Regular Sale	Heron Bay – Highlands	$545,000	5/3	3,011
6960 NW 68TH MNR	Regular Sale	Cypress Trail	$530,000	5/3.5	3,361
6600 NW 95TH LN	Regular Sale	Meadow Run	$510,000	5/3.5	2,937
6990 LONG LEAF DR	Bank Foreclosure	Parkland Golf & CC	$550,100	5/3.5	3,127
6985 LONG LEAF DR	Short Sale	Parkland Golf & CC	$490,000	7/5	5,106
6425 NW 98th Lane	Short Sale	Meadow Run	$450,000	5/3	3,228
9930 NW 61ST CT	Regular Sale	The Landings	$503,500	5/3.5	3,095
7088 NW 111TH TER	Regular Sale	Parkland Isles	$540,000	5/3.5	3,471
10888 NW 67TH PL	Regular Sale	Parkland Isles	$490,000	4/3.5	2,815
9745 NW 63RD PL	Regular Sale	The Landings	$465,500	5/3.5	3,076
9742 Clemmons ST	Short Sale	Parkland Golf & CC	$355,000	5/4	3,903
11795 NW 78TH PL	Regular Sale	Heron Bay	$493,500	5/4	3,419
6009 NW 63RD WAY	Bank Foreclosure	Pine Tree Estates	$479,000	4/2.5	2,293
6717 NW 107TH WY	Short Sale	Fox Ridge	$450,000	5/3	2,849
6907 NW 110TH WAY	Bank Foreclosure	Parkland Isles	$475,000	5/3	3,893
6440 NW 58TH TE	Regular Sale	Country’s Point	$382,500	3/2.5	4,145
11650 NW 71ST PL	Regular Sale	Heron Bay – Bay Cove	$363,000	3/2	2,056
11532 NW 75TH MNR	Bank Foreclosure	Heron Bay – The Reserves	$408,000	4/3	2,525
11615 NW 71ST PL	Regular Sale	Heron Bay – Bay Cove	$350,000	3/2	2,570
7626 NW 60TH LN	Regular Sale	The Lakes At Parkland	$330,000	4/2.5	2,453
12290 NW 77TH MNR	Bank Foreclosure	Heron Bay – Heron Cove	$340,000	4/3	2,367
6367 NW 80TH DR	Regular Sale	Mayfair At Parkland	$264,700	4/2.5	1,517
5934 NW 74th ST	Short Sale	Parkwood	$250,000	4/2	2,763
7983 NW 70TH AVE	Bank Foreclosure	Parkland Estates	$255,000	4/2.5	2,664

There were 39 total single family sales for the month of June, 2011 ranging in price from $255,000 to $1,100,000. Last month, there were 36 total single family home sales. There was 3 more Parkland single family homes sold in the month of June, 2011 than in May, 2011. Among the June sales, 15 were distressed sales (bank foreclosures, short sales, or corporate owned properties). 38% of all sales were distresses ones. Home sales have increased steadily in the past few months, as Summer is the busiest time for real estate in Parkland.

Despite past Summers, Parkland real estate active home inventory is at record lows.  As a result, there is a larger pool of buyers looking to purchase new homes in Parkland, Florida. It is ironic, but now is the best time to sell or buy Parkland real estate this Summer,  It’s time to get off the real estate fence and come see why Parkland Florida is such a popular place in South Florida to raise a family and live the Parkland Lifestyle.

Every month on our website, you can be assured that we will keep the public abreast of all of the monthly sales and market activity, especially with Parkland short sales and bank foreclosure properties. We also publish all of the Parkland residential single family home sales, as we know how important it is to know each and every sale that takes place in the City of Parkland. If you would like to see home sales in the past months, please click here.

Know the neighborhood. Know the value. Know your hometown agents: The Parkland Parrot Real Estate Team. If you are interested in buying or selling in Parkland or South Florida and are looking for experienced local Realtors, please do not hesitate to contact the Squawk at 954-609-0591 or send us a message here.

To stay updated with all Parkland real estate information, receive our blog posts via email by subscribing here. After registering, you must activate the subscription in a follow-up email.

Florida Realtors Call For Banks To Negotiate Short Sales Faster

Parkland Realtor Demands Faster Short Sale Negotiating From Banks

This past Friday, Florida Realtors demanded to Congress that lenders and banking institutions must get serious about negotiating and accepting short sales in an expeditious manner in order to help stabilize the Florida and nationwide housing market.

The government tried to implement a federal program that called for lenders to respond to offers on short sale real estate properties in no greater than 10 days.  Unfortunately, lenders have not been able to keep their end of the bargain, as many South Florida and Parkland real estate short sales remain unsold and sitting on the market.  Many Realtors, buyers, and sellers are patiently awaiting answers from bank short sale representatives.

Difference Between Approved & Unapproved Parkland Short Sale Listing For Sale

We get many requests to see short sale listings as well as questions regarding the process.  It is important to understand the difference between an approved and unapproved short sale real estate listing.  An unapproved short sale listing means that the bank has not responded back with a price and terms that the bank or lending institution will take for the home.  There could be missing paperwork not provided by the distressed homeowner, multiple lenders involved, or many other reasons holding up the sales.  Be careful!  Unapproved short sales could take 4-8 months to close.  If you are relocating to Parkland or South Florida and need to move into a new home in just a few months, beware!  You may not have enough time to close and move into your dream home.

An approved short sale is where the bank has performed its broker professional opinion (BPO) and/or appraisal and has agreed in principle to a price and terms that the bank will take for the successful sale of the short sale listing.  If you are interested in purchasing a Parkland or South Florida short sale, it is important to ask your local Realtor to tell you if the short sale listing is approved or unapproved.

Know the neighborhood.  Know the numbers.  Know your hometown agents.  The Parkland Parrot Real Estate Team.  If you are interested in buying in Parkland or South Florida and are looking for experienced local Realtors, please do not hesitate to contact the Squawk at 954-609-0591 or send us a message here.

To stay updated with all Parkland real estate information, receive our blog posts via email by subscribing here. After registering, you must activate the subscription in a follow-up email.

Related Articles:
Parkland Parrot Negotiates Short Sale And Gets Sun Sentinel Notice
Consequences Of Walking Away From Your Parkland Home Mortgage
Florida Courts Require Mediation Before Foreclosing

Consequences Of Walking Away From Your Parkland Home Mortgage?

With approximately 11 million current homeowners underwater on their mortgages, not many of these individuals understand the consequences of their actions if they “walk away” from paying their mortgages.  The popular term called strategic default is when a person walks away from paying their mortgage payments, which usually results in a short sale or foreclosure.

In general, if you are considering walking away from your mortgage, the major consequences of your actions are as follows:

• Impaired credit Deficiency risks
• Deficiency Risk
• Tax consequences
• Moving costs
• Professional implications

Impaired Credit: Most people are unaware how their credit will be affected if they default on their mortgage payments.  If you instead work with your bank and do a short sale, you may be able to qualify for a new home purchase in as little as 3 years.  If you instead choose to walk away and have your home foreclosed on by the bank, your credit score will be significantly impacted for 7 to 10 years, or more.  Also, by defaulting on your mortgage, you will cause your credit card companies to possibly cancel or lower your credit limits.  As a result, you will have difficulty obtaining financing for large items such as automobiles, furniture, and of course, houses.

Deficiency Risks: If you default on your mortgage, your lender may come after you for the difference between what you owe on your mortgage and and what your short sale or foreclosure proceeds were along with legal fees and interest incurred during the process.  In the State of Florida, there is no anti-deficiency protection laws from banks or lending institutions pursuing the difference between what borrowers owe and what the home sells for in foreclosure. If you are concerned about a deficiency judgment, then it is imperative to consult with a real estate lawyer, who can provide you with the necessary legal advice for your unique situation.  Please do not consult with your neighbor or friend that just sold their home through the short sale process.  Each bank and situation is different, so please hire a real estate attorney, or ask us to refer you to one.

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Our New Pine Tree Estates Approved Short Sale Listing

6879 NW 65TH TER, PARKLAND, FL 33067

The Parkland Parrot Real Estate Team just took a brand new listing in North Pine Tree Estates.  We already have a bank approval from Bank of America for $510,000.  If you have been following this home, it has been on the market for over 2 years.  But, now the bank is on board and is ready to accept offers.

For more information and pictures, please visit the listing page at:
Pine Tree Estate Short Sale Listing

Features Include:

• Bank Approved Short Sale At $510,000 Which Is A Steal Of A Deal
• 5 Full Bedrooms, 4 Full Bathrooms
• Pool
• Courtyard Style Home
• 2-Story Home
• Marble Flooring Throughout
• Tri-Split Floor Plan
• Long Circular Driveway
• 3-Car Garage
• Granite Countertops
• Stainless Steel Appliances
• Exclusive Private 65th North Pine Tree Street

For more information and pictures, please visit:
Pine Tree Estate Short Sale Listing