Parkland Parrot

5 Questions To Ask Before Hiring A Home Inspector

What To Ask Your Parkland Home Inspector

Recently, we have represented many future Parkland homeowners.  After sealing the deal and agreeing on terms, the next important process on the road to home ownership is the home inspection.  Purchasing a new home is one of your biggest investments that you will make. Even though the process is very exciting, it can quickly become overwhelming.  The dream home you purchased appears to be exactly what you are looking, but you must be sure that there are not any hidden or potentially serious defects that could cost you thousands if not tens of thousands of dollars.

It is imperative to hire the best inspector before buying any home.  Below, please find 5 questions to ask before hiring a home inspector:

1. Will your inspection meet recognized standards? Before hiring your home inspector ask  if the inspection will meet state requirements and if the inspector is a member of the American Society of Home Inspectors or the National Association of Home Inspectors.
2. How experienced is the inspector? Ask how long the inspector has been in business and do not be afraid to ask for customer referrals/testimonials to verify his/her recent expertise.
3. Is your focus on residential inspections? It is also important to make sure that your inspector specializes in residential home inspections which is very different from commercial inspections.
4. What type of inspection report do you provide? We have seen many different inspectors, and it is important to see sample reports in order to know how detailed your report will be.  Will there be photographs taken of any problems or areas of concerns with detailed descriptions?  Understanding the reporting style of the inspector is very important before hiring the inspector.  Also, make sure to request that you receive the full inspection report with 48 hours.
5. How much will the inspection cost? Most inspection companies charge one fee to the client.  This fee includes a licensed roofer to inspect the roof, a licensed termite inspector, and the home inspector.  Costs should range from $300.00 to $500.00 depending on the size of the home.  Also, it is imperative to get a wind mitigation inspection done in order to help significantly save on your home insurance.  Ask your home inspector if he/she can give you a discount if you hire them for both the home inspection and wind mitigation inspection.

As licensed Realtors, we provide our clients with a list of approved home inspectors.  As a result, they can then choose which inspector they like.  One home inspector in particular, Tom Boyd with South Florida Home Inspection Services, has been doing many inspection for our recent clients.  Tom has been doing inspection in South Florida for over 25 years.  His attention to detail is a tremendous added service for our clients.  Please click here to preview Tom’s sample inspection reports

For more information on Tom Boyd and South Florida Home Inspection Service, please click here

We know the numbers, we analyze the market, our clients make better decisions. 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.

Is Now The Best Time To Purchase A Home In Parkland Florida?

The Cost of Waiting for Parkland Home Prices to Fall

Many of our current clients are asking us when will be the best time to purchase a new Parkland home.  Many buyers are still sitting on the fence waiting for home prices to hit bottom.  Buyers want to have some assurance that they are purchasing at the best possible price.  The Parkland Parrot Real Estate Team agrees that home prices will continue to fall in 2011.  But, we disagree that waiting for prices to hit rock bottom is the best financial decision for buyers sitting on the sidelines.

It is imperative that any home buyer first speak with a mortgage professional.  Buyers should be more concerned about cost than housing prices.  Remember, you are not just buying a property, but paying a monthly mortgage payment.  As a result, cost needs to be on all buyers top list of concerns!  Your mortgage professional will tell you that the cost of a house is based not only on the price of the home, but on the current interest rates.

PRICES:

According to the National Association of Realtors (NAR), home sales increased by 15.4% in the 4th quarter of 2010 over the 3rd quarter of 2010.  NAR also highlighted in their research report that prices remained stable during 2010.

On-the-fence buyers probably feel good that they delayed their home purchase in 2010, as home prices certainly did not increase.  But, recent news shows that monthly payments have increased and will continue to increase in the coming months.

INTEREST RATES:

Freddie Mac recently released its Primary Mortgage Survey showing that current interest rates on 30 year mortgages was at 5.05%.   Vice president and chief economist for Freddie Mac, Frank Nothaft, stated, “Long-term bond yields jumped on positive economic data reports, which placed upward pressure on mortgage rates this week…As a result, interest rates on a 30-year fixed-rate mortgage rose to the highest level since the last week in April 2010.”

As a result, interest rates have increased dramatically over the past 90 days and will continue to steadily increase this year.  What does this mean for potential Parkland home buyers looking to pull the trigger on a purchase in 2011?

Let’s look at the chart below for emphasis:

By not purchasing a home in the last 90 days, a purchaser lost:

• $179.00 Per Month
• $2,147.00 Per Year
• $64,000.00 Over a 30-year mortgage term

BOTTOM LINE

Even if prices fall another 10% by the end of 2011, your monthly mortgage payment will increase if interest rates increase by more than 1% this year.  We are telling our clients not to worry as much as to where prices may go and instead be more concerned where mortgage interest rates will climb to later this year.  You do the math!

We know the numbers, we analyze the market, our clients make better decisions. If you are interested in buying or selling a home 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.

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.

Inventory In Parkland … Now Is The Time To Call Us

Calling Parkland Residents!  If you have been thinking about selling your home, NOW may be the best time to sell!  With the real estate market starting to correct itself, inventory has plummeted in the last 6 months to record lows.  I hear through the real estate grapevine that Parkland buyers’ agents cannot find properties for their clients and are seriously getting frustrated making offers on homes that are already under contract or have multiple offers and over asking price offers!  My opinion is that this is GREAT news meaning that demand is starting to outweigh supply in Parkland and other neighboring areas in Broward County.

If you are considering selling your home or just want to be kept up to date on the value of your property, please give us a call at 954-609-0591 or email us at Info@ParklandParrot.com.

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.

What Single Family Home Can I Get For Under $300,000 In Parkland?

Below, are the seven properties that you can purchase in Parkland for Under $300,000:

12571 NW 78TH MANOR — $299,500 — 1,900 Sq. Ft. Under A/C — 3 Beds/2 Baths — Community: Heron Bay-Heron Cove — New Kitchen w/Granite Counters, 42′ Wood Cabinets, Upgraded Master Bath w/Spa — Broker Is Mizner Grand Realty, Inc — Unapproved Short Sale Listing

6367 NW 80TH DR — $275,000 — 2,211 Sq. Ft. Under A/C — 4 Beds/2 Baths/ 1 Half Bath — Community: Mayfair At Parkland — 4 Spacious Beds In Gated Community w/ Community Pool, Crown Molding, Spacious Backyard w/Room For Pool — Broker Is Exit Team Realty — Unapproved Short Sale Listing

6050 NW 72ND CT — $265,000 — 1,911 Sq. Ft. Under A/C — 3 Beds/2 Baths — Community: Parkwood — Seller Will Contribute 3% Of Sales Price To Buyer’s Closing Costs, Split Floor Plan, Gated Community, High Ceilings, Hurricane Shutters, Private Fenced Yard — Broker Is Coldwell Banker — Approved Short Sale Listing

7594 NW 70TH WY — $276,900 — 2,183 Sq. Ft. Under A/C — 3 Beds/2 Baths — Community: Cypress Cay — Gated Community, Open Floor Plan, Lots Of Light, Located Across From Park, Great School District — Broker Is Southeast Realty Connection — Bank Foreclosure Listing

7820 NW 61ST TE — $249,900 — 2,096 Sq. Ft. Under A/C — 3 Beds/2 Baths — Community: Parkland Place — Spacious 3 Bed/2 Bath Home Plus Den In Gated Parkland Community, Open Floor Plan, Vaulted Ceilings, A-Rated Schools — Broker Is RE/MAX ParkCreek — Unapproved Short Sale Listing

6411 NW 58TH WY — $269,900 — 2,100 Sq. Ft. Under A/C — 3 Beds/2 Baths/1 Half Bath & Pool With Spa — Community: Country’s Point — Great Deal On 3/2 Pool Home, Roof Just Repaired, Great Parkland Location, 2-Story Home, Gated Community, Great School District & Close To Parks & Recreational Activities, Perfect Family Home — Broker Is Fidelity Realty Company — Bank Foreclosure Listing

7022 NW 75TH ST — $219,900 — 1,713 Sq. Ft. Under A/C — 3 Beds/2 Baths — Community: Parkside Estates — Built In 2003, Gated Community, Light & Bright, Lush Landscaping, Open Floor Plan, Across From Parks & Recreation, Great Schools, Family Community, Convenient Access To Sawgrass Expressway — Broker Is  For Sale By Lenders Inc — Bank Foreclosure Listing

If you are interested in seeing any of these properties, we would be happy to schedule a showing for you.  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 information, receive our blog posts directly to your inbox by subscribing to the squawk.