The Obama Administration is releasing a brand new revision to the Home Affordable Refinance Program for homeowners that are underwater on their mortgages.  Struggling homeowners that owe more than their homes are worth can take advantage of this new program.

Below, please see the criteria that homeowners must meet to take advantage of this program:

• Borrowers must be current on their mortgage payments.
• The loans must be backed by Fannie Mae or Freddie Mac.
• Fannie Mae or Freddie Mac must have bought these loans no later than May 31, 2009.
• To find out if your loan is owned by Fannie, click here. To see if it’s owned by Freddie, click here.

Some other revisions to the Home Affordable Refinance Program are that the government will allow some borrowers to refinance their mortgages even if their mortgages exceed 125% of the values of their homes.  Other noted changes to the program also permit less risk for lenders and decreased fees for borrowers.  Some homeowners can even qualify to refinance their mortgages even if they had a foreclosure in the past seven years!

This new program could help tens of thousands of South Florida residents that owe a lot more than their homes are worth.  In fact, Corelogic, a research firm, reported that four out of 10 homeowners in Broward and Palm Beach counties are currently underwater on their mortgages.  Today is the launch of this new program nationwide, but mortgage experts caution underwater homeowners looking to take advantage of this new government program to be patient, as many lenders are not prepared to accept many applications right away.  I caution homeowners to be patient and shop multiple lenders in order to receive the best rates and programs.

I think this program will indeed help many Parkland and South Florida homeowners.  As a result of underwater homeowners taking advantage of this program, the overall real estate market in Parkland will improve.  In the future, more homeowners will be able to refinance their mortgages and stay in their homes resulting in less distressed home listings being put on the market for sale including short sales and bank foreclosures.  If you are looking to take advantage of this new program and need to speak with an expert mortgage professional, please give me a call at: 954-609-0591.

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

Yesterday, Freddie Mac reported that the average 30-year fixed mortgage interest rates fell just below 4% for only the second time this year. Chad Wandler, a Freddie Mac spokesman, stated that these interest rates have not been this low for 60 years when long-term rates were recorded.

Freddie Mac stands for Federal Home Loan Mortgage Corporation, which is a government-sponsored entity first organized in 1970 to buy mortgages on the secondary market and help expand the availability of money for home loans.  Freddie Mac’s Vice President Frank Nothaft stated that,”Soft home prices and low mortgage rates have kept home-buyer affordability historically high.”

I have been professing that now is truly the best time to buy a home in Parkland or South Florida.  With interest being under 4% and home prices at record low numbers, what are you waiting for?  Sellers that have their Parkland homes on the market are serious about selling.  Now is the time to purchase a home in the City of Parkland.  What a great start to 2012 by owning a home in Parkland, Florida and living the Parkland lifestyle.

Search Current Available Parkland Homes For Sale

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

Related Posts:
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There were 40 total single family sales for the month of August, 2011 ranging in price from $235,000 to $4,000,000 (Click Here To View Details On 4 Million Dollar BBB Ranches Sale). Last month, there were 32 total single family home sales. There were 8 more Parkland single family homes sold in the month of August, 2011 than in July, 2011. Among the August sales, 18 were distressed sales (bank foreclosures, short sales, or corporate owned properties). 45% of all sales were distresses ones.

Homes sales have increased in Parkland Golf & Country Club.  Among the Parkland homes sold in August, 8 were in Parkland Golf & Country Club.  Since builder Toll Brothers took over the project, there have been an increase in overall sales in the community, which is excellent for the overall real estate market in the City of Parkland, Florida.

There was also 12 homes sold in Heron Bay in the month of August, 2011.  We have discussed in past articles that many home buyers have called Heron Bay home in the past year, as prices have become very affordable in this community. Heron Bay homeowners enjoy resort-style amenities in an exclusive man-gated community.  We have also been informing our clients that: It is ironic, but now is the best time to sell or buy Parkland real estate this Summer. With low mortgage rates and homes at affordable prices, more and more buyers can call Parkland home and live the Parkland Lifestyle.

Every month on our website, you can be assured that I will keep the public abreast of all of the monthly sales and market activity, especially with Parkland short sales and bank foreclosure properties. I also publish all of the Parkland residential single family home sales, as being a Parkland resident, I truly know how important it is to know the single family residential sales 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.

I am pleased to announce my Parkland Meadow Run West listing just sold for top market dollar.  This home is picture-perfect.  I not only sold this home, but also found the buyer too, so I am very excited representing both the sellers and buyers on this transaction.   Please see the details of the home below:

Community: Meadow Run
6280 NW 104th Way, Parkland, FL 33076
Beds: 5 Bedroom With Playroom / Man Room
Baths:  3.5 Bathrooms
Square Footage: 4,235 Under
Asking Price:  $689,000

Click Here For Complete Details, More Pictures & Video Tour Of This Stunning Parkland Home

LIVE THE PARKLAND LIFESTYLE!  Not A Short-Sale Or Foreclosure! Stunning Meadow Run Estate Home With 180 Degree Water Views, 5 Full Bedrooms Plus Huge Playroom Area, Heated Pool With Spa, 3 Car Garage On Large Cul-De-Sac Lot.This Home Features Tri-Split Floor Plan, Real Wood Floors Throughout Main Living Areas, Accordion Hurricane Shutters, Huge Master Bedroom With Sitting Area, Large Kitchen With Granite Countertops, Panel Appliances & Island, Crown Molding Throughout, Outside Built-In Grill, Surround Sound & Much More!

If you are thinking about selling your home and buying a new home, now is the best time.  Please read my past article: Ironic But It Is The Best Time To Sell Or Buy A Parkland Real Estate Home

The Parkland Parrot is the most comprehensive online source for Parkland, Florida real estate information.  Whether you are interested in knowing the latest home sales, trends, or local city information in Parkland, The Parkland Parrot has it all at your fingertips.  Click Here To Search Parkland homes

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.

Related Articles:
5 Reasons To Sell Your Parkland Florida Home Now
If I Sell My Parkland Florida Home – How Much Money Will I Net?

We are flattered to hear that many of our readers are using our website ParklandParrot.com as their ultimate source to search for available Parkland homes as well as to locate information on Parkland schools, businesses, parks and recreation, and so much more.  As of late, many readers are inquiring about purchasing a home in the City of Parkland.

Currently, I am working with a few different families looking for the perfect Parkland home in various price ranges.  Unfortunately for buyers, there has been a lack of overall inventory in the City of Parkland.  Parkland is certainly a strong real estate market with less distressed properties (bank foreclosures and short sales) than other neighboring cities such as Coconut Creek and Coral Springs.  Also, there is a lack of move-in-ready homes in Parkland.

As a result, if you are thinking about putting your home on the market for sale, then now is the perfect time.  There are buyers anxiously awaiting to purchase a home just like yours!  Our inventory is low, and buyers are willing to pull the triggers on purchases in our city!

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.

Related Posts:
If I Sell My Parkland Florida Home – How Much Money Will I Net?
Ironic But It Is The Best Time To Sell Or Buy A Parkland Real Estate Home
Will Summer Be The Busiest Parkland Real Estate Season?
5 Reasons To Sell Your Parkland Florida Home Now

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.

It has become a daily question from potential clients as to when is really the best time to sell or buy real estate.  We certainly do not have a crystal ball, or I would not be selling real estate.  Instead, I would sipping on a margarita on a tropical beach somewhere in the Caribbean.  But, we do go by numbers and realistic market expectations.

The Sun-Sentinel reported earlier today that, “Sales of existing homes in Broward County hit 1,142, up 6 percent from a year ago. It was the third consecutive month that the [Broward County] eclipsed 1,100 sales.”  Buyers are taking advantage of both record low mortgage interest rates and low price points.  But, we are telling are clients that mortgage interest rates will increase in the coming months and into next year making now the best time to pull the trigger on a home purchase.

Sellers also need to be aware that now is the right time to put their homes on the market for sale.  Unfortunately, with good news also comes bad news.  The same Sentinel article also announced that homes prices have continued to decline. Broward County’s median’s price was $188,500, which is down 17 percent from a year ago.  Also, most experts concur that prices will decline, but not as drastically as they have in the past years.  As a result, sellers can put more money in their pockets if they sell NOW instead of waiting!  Time is of the essence.  But, banks and lending institutions are seeing the same statistics of less available homes for sale and will soon start putting their bank foreclosure inventory on the market.

Buyers also need to be aware that even though home prices are expected to decrease, overall monthly home costs will certainly increase as well.  Mortgage interest rates, along with property insurance, are on the rise making it harder in the future for buyers to qualify to purchase new homes.

Bottom Line: No matter if you are looking to buy or sell real estate in Parkland or South Florida, NOW is the time to make a move!  Even better, if you are looking to sell and then buy, you are in the driver’s seat!

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.

There were 36 total single family sales for the month of April, 2011 ranging in price from $189,999 to $900,000. Last month, there were 30 total single family home sales. There was 6 more  Parkland single family homes sold in the month of May, 2011 than in April, 2011. Among the May sales, 18 were distressed sales (bank foreclosures, short sales, or corporate owned properties). 50% of all sales were distresses one, which is approximately 1/4 of an increase from last month’s sales.   Banks and lending institutions are starting to get with the program in regards to negotiating short sales, which is a very good thing for the overall stability of the Parkland real estate market.  11 of the 18 distressed sales were short sales and were mostly in the price ranges of $200,000’s to $400,000’s.

Also, we have definitely seen an increase in buyer activity in Parkland’s Heron Bay community, where 12 of the 30 sales took place for the month of May, 2011. These buyers gobbled up great properties at fantastic price points.  Summer is just about here!  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.

There were 30 total single family sales for the month of April, 2011 ranging in price from $235,000 to $3,500,000. Last month, there were 29 total single family home sales. There was one less Parkland single family homes sold in the month of March, 2011 than in April, 2011. Among the April sales, only 8 were distressed sales (bank foreclosures, short sales, or corporate owned properties).  It’s good to see that only 27% of the sales were distressed ones.  But, banks and lending institutions are expected to start releasing their foreclosure inventory in the coming weeks and months.  We will certainly keep an eye on this and provide you with the most up-to-date news and information.

Also, we have definitely seen an increase in buyer activity in Parkland, Florida.   Many families are looking to make a move to Parkland during the Summer months.  As a result, new residents can send their children to the Parkland camps and get better acclimated to the Parkland Lifestyle before the school years starts.

With bank foreclosure inventory expected to increase, it may be the perfect time to list your home for sale.  Currently, there are many qualified buyers anxiously trying to move into Parkland, Florida before the next school year.  Interest rates are also again back under 5%.  Your home may be worth more than you think.  Call us today at: 954-609-0591 for your customized market analysis and unique marketing plan.  Allow our expert service to work for you!

Every month on our website, we publish all of the Parkland residential single family home sales. We know the importance of staying on top of the market and being aware of all of the sales. If you would like to see home sales in the past months, 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.

More and more younger buyers are calling Parkland home.  The great schools, parks and recreation, and safety of the city provides a great place to raise a family.  The Parkland Parrot Real Estate Team has been working with many first-time home buyers that are looking to live in the City of Parkland.

As of today, there are 7 Parkland single family homes priced between: $223,860 and $299,999.

Community:  Parkside Estates
7463 N.W 70th Avenue
Beds: 3
Baths:  2
Square Footage:  1,713
Short Sale Listing
Asking Price: $223,860
Remarks:  Move-In Ready Home In Parkland’s Parkside Estates Gated Community.  This Home Is A Bank-Approved Short Sale & The Bank Is Ready For An Offer & Quick Closing.  The Asking Price Is Approved By The Lender, Best Deal In Parkland For The Money!

Community: Parkside Estates
7650 N.W. 70th Avenue
Beds:  4
Baths:  2.5
Square Footage:  1,668
Short Sale Listing
Asking Price:  $239,990
Remarks:  This Is A Charming 4 Bedroom, 2.5 Bathroom Home In Prestigious Parkside Estates in Parkland, Florida.  Upgrades Include New Kitchen With Granite Countertops & Eating Bar. Gorgeous Master Bathroom Featuring Dual Sinks,  & Separate Tub & Shower.

Community: Mayfair At Parkland
6331 N.W. 80th Drive
Beds:  4
Baths:  2.5
Square Footage:  1,935
Short Sale Listing
Asking Price:  $240,000
Remarks: Spacious 2-Story 4 Bedroom, 2.5 Bathroom Home In Desirable Mayfair At Parkland, Florida.  Home Has A Screened-In Patio & Spacious Backyard.  Pergo Floor Upstairs & Spacious Kitchen & Eat-In Area.  Home Is A Short Sale & Priced To Sell.

Community: Parkside Estates
7983 N.W. 70th Avenue
Pool
Beds:  4
Baths:  2.5
Bank Foreclosure Listing
Asking Price:  $274,900
Remarks:  Spacious 4 Bedroom, 2.5 Bathroom Pool Home, 2-Story With Granite Countertops & Upgraded Cabinetry, Master Suite Features Roman Tub & Separate Shower, Laundry Room Also Conveniently Located Upstairs, Stunning Pool & Spa Which Is Perfect For Entertaining.

Community: Mayfair At Parkland
6367 N.W. 80th Drive
Beds:  4
Baths:  2.5
Corporation Owned Listing
Asking Price:  $279,700
Remarks:  Not A Short Sale!  This Is A Corporate Owned 4 Bedroom, 2.5 Bathroom Parkland Home Located In Mayfair At Parkland, Home Is Freshly Painted With Neutral Colors, Home Recently Renovated & Ready For Immediate Occupancy.

Community:  Mayfair At Parkland
8043 N.W. 66th Way
Beds:  3
Baths:  2
Regular Listing
Asking Price:  $$294,900
Remarks:  Gorgeous Remodeled Home In Desirable Mayfair At Parkland Gated Community With 24-Hour Guard Gate, Beautiful Hardwood Floors Throughout Living Areas, Granite Counters In Kitchen & Baths, & Much More.

Community:  Parkside Estates
7026 N.W. 77th Street
Beds:  3
Baths:  2
Regular Listing
Asking Price:  $299,999
Remarks:  Spacious & Clean 3 Bedroom /2 Bathroom Home In Parkside Estates, Home Has Pergo Floors Throughout & Lots Of Upgrades Which Includes Granite Kitchen Countertops & 18 Inch Tile.

These are seven great Parkland homes where first-time homebuyers can purchase and live in prestigious Parkland, Florida.  Homes have become very affordable in Parkland, and NOW is the time to purchase a home and live the Parkland good life!

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