Parkland and South Florida Realtor Michael Citron was quoted in yesterday’s Sun-Sentinel article entitled: South Florida housing strategies for 2012.  It appears that the housing market collapse is fading away bringing a stronger and more stable market in the coming months and years, especially in more stable communities like Parkland, Florida.

Home sales in Parkland and South Florida are on the rise, as the real estate bottom nears.  But, the shadow inventory of bank foreclosures soon to hit the market and less than stellar job market could prolong the recovery.  Sun-Sentinel reporter, Paul Owers, provides a guide to help both buyers and sellers, and homeowners “underwater” on their current mortgages in 2012:

Sellers:

DO: Consider selling early in 2012, before foreclosures hit the market
DON’T: Try to attract buyers with cars, cash or most other incentives

Underwater Borrowers

DO: Plan now if you’re considering a short sale
DON’T: Think you’re necessarily stuck with an underwater mortgage

I was quoted in the Sentinel article giving advice to potential buyers in 2012:

DO: Write a letter to the seller, explaining why you want the home

DON’T: Sound desperate or let the seller know how much of a mortgage you’re approved for

If you’re writing to a lender, be sure to explain that you’re pre-approved for a mortgage and can close quickly, Broward County (and Parkland) real estate agent Michael Citron said. If the seller is the existing homeowner, go into more personal detail.  “If the home has a pool, tell them that you hope your kids can learn to swim in that pool,” Citron said. “A regular seller wants to know the buyer will appreciate the house as much as they did.”

If you are thinking about selling or buying a home, it has never been a better time to make a move in real estate for 2012.  To read the complete Sun-Sentinel article, please click here It is a honor and privilege to be considered as a local real estate expert.  I look forward to working with the Parkland and South Florida community for all of your real estate needs in 2012.

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.

Finally, the end looks near for the Chinese Drywall issue that has hit many states, particularly Parkland and South Florida.  Chinese Drywall manufacturer, Knauf and its Chinese affiliate Knauf Plasterboard Tianjin, recently agreed to a settlement that would give cash to help replace the Chinese Drywall in affected homes.

The settlement will cost approximately $600 million to $1 billion.  According to NBC Miami,  the company will cover all of the necessary Chinese Drywall repairs on all 4,500 houses that were affected.  Among the homes affected, 55% of the homes are in the State of Florida. There are thousands of homeowners, mostly in the South, affected by the installation of tainted Chinese Drywall.

Attorneys for the plaintiffs said that Knauf knew that the Chinese Drywall that they installed in homes was defective and neglected to tell customers. Chinese Drywall gives off a foul odor.  It also corrodes wiring and metal in appliances and causes health problems.  Settlements have been reached with other Chinese Drywall manufactures and more should follow.

This is great news for many Parkland and Florida homeowners that have been dealing with the Chinese Drywall saga for many years.  This news will also help stabilize the overall Parkland and Florida real estate market as more and more homeowners will receive settlements in order to finally remove the Chinese Drywall in their homes.  As a result, homeowners, and their families, will soon be able to enjoy their homes that they had built.  We will continue to provide the Parkland community with updated information on the Chinese Drywall court proceedings.

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.

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.

Richard Wentz, a retired New York Police officer that lives in Heron Bay, was recently asked to take down his commemorative 911 flag from his home.  Wentz lives in The Fairways At Heron Bay community and was told by the association that he must remove the flag or risk being fined or possibly sued.  Patricia Favata, president of the The Fairways At Heron Bay Board of Directors, claims that neighbors have complained that Mr. Wentz is breaking the rules of the association that state that a homeowner can only have one flag on their property.  Mr. Wentz currently boasts two flags: one regular U.S. flag and another special flag for the victims of 911.

Wentz is a true American hero that ran into Tower 1 of the New York Trade Center and helped pull out people before the building collapsed. Wentz also lost 43 friends and colleagues that day, and the inside of his Heron Bay home is a shrine to the lives lost at the World Trade Center. Mr. Wentz now is fighting cancer, which he says he received from breathing in all of the particles and debris during the cleanup of Ground Zero.

I hope that Mr. Wentz’s fellow homeowners in the Fairways at Heron Bay come together and voice their concerns to the Board Of Directors on the treatment of a formed New York police officer and hero.  I am sure that everyone can come together and allow Mr. Wentz, as well as other Heron Bay homeowners, the right to display their support for the victims and heroes of 911.

I also want to let our readers know that the Parkland Parrot Real Estate Team has no affiliation with the Heron Bay Homeowner’s Association.  We have received several emails from Parkland homeowners, as well as people from around the country, voicing their concerns.  If you would like to contact the association regarding this issue, please call Benchmark Property Management at: 954-344-5353. Again, I hope that Mr. Wentz can keep is flag posted proudly in front of his Heron Bay home.  I look to the Fairways At Heron Bay association to allow him to keep the flag up and, if necessary, amend their rules and regulations regarding this issue.

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

Decline in distressed homes helps housing market heal

Del DeMarino (left), had to take less money for his Coral Springs home because of foreclosures and short sales nearby. His real estate agent Michael Citron is helping him deal with a difficult market. (Jim Rassol, Sun Sentinel / November 11, 2011)

By Paul Owers, Sun SentinelNovember 14, 2011

Some South Florida homeowners can sell their homes at a better price this year because fewer foreclosed properties are on the market.  “People hear that the market’s terrible,” said Judy Trudel, an agent for Balistreri Realty in Lighthouse Point. “But there are certain neighborhoods that are doing well.”  The values of some homes not in distress are stable, if not rising, real estate agents say.

Although foreclosures and so-called short sales still account for a large part of the region’s housing market, the numbers are declining.  Distressed sales made up 48 percent of all sales in October, down from 54 percent in October 2010, according to the Miami Association of Realtors.  In Palm Beach County, distressed sales represented 23 percent of all transactions last month, compared with 27 percent in October 2010.

Fueling the decline has been a surge in South Florida home sales that is helping shrink the available housing stock, including the number of properties in some stage of foreclosure. Those properties have weighed down the beleaguered housing market the past four years.  Weston’s housing market has been especially robust. There are only 10 bank-owned homes on the market in the entire city, said Chip Rowand, a broker for the Keyes Co. in Weston. Bidding wars are common there.  “The days of coming in 20 percent under asking price are gone,” he said.

Since President Barack Obama took office in early 2009, the upscale enclave west of Fort Lauderdale has led the nation with the highest increase in home values, according to one research firm.  The median value of a home in Weston climbed 15.1 percent to $280,000 from February 2009 to August 2011, according to a survey of the nation’s 1,000 largest cities by Zillow.com for Bloomberg Businessweek.  Other communities also are reporting positive price trends.

In the Shadow Wood subdivision of Coral Springs, Beverly Rothstein of the Christopher White Group listed for sale a four-bedroom home next to a run-down foreclosure.  Regardless, Rothstein’s client had an offer within a week for near the $305,000 asking price — even without a for-sale sign in the front yard. The deal closed last month.

Another of her clients, Erwin Sefton, sold his three-bedroom Coral Springs home in three weeks for $245,000. He’s moving to a new house near Boynton Beach that won’t be ready until January, and his only disappointment is that his house sold too quickly.  “Everybody I talked to said it would take at least six months,” said Sefton, 67.  With buyers attracted to affordable prices, sales of existing homes and condominiums have soared in 2011.

Palm Beach County easily will surpass last year’s total of 9,584 home transactions. Broward County already has eclipsed last year’s home sales total of 7,997. Condo sales in both counties this year already exceed the annual totals from 2005, the peak of the housing boom.  Lenders are starting to resume foreclosures that had slowed dramatically in the past year amid the “robo-signer” controversy.

Some real estate agents and analysts believe these imminent foreclosures make up a “shadow inventory” that threatens to hurt the budding housing recovery. Others are skeptical, saying the onslaught of foreclosed homes predicted for the past two years hasn’t happened yet and won’t be as bad as feared.  “Banks are handling the disposition of distressed properties better,” said Bill Richardson, president of the Realtors Association of the Palm Beaches. “I don’t think we’ll see any significant price deterioration from where we are now.”  But that doesn’t mean neighborhoods hit hard by properties in the foreclosure process won’t face price declines in the months ahead.

Del DeMarino wants to move closer to the ocean, so he put his four-bedroom home with a pool in Coral Springs on the market for $319,900. When he dropped the price by $10,000, he immediately had four offers. It’s now under contract for the asking price, and he expects to close next month.  There are dozens of homes in his Maplewood subdivision that are in or near foreclosure, said Michael Citron, his real estate agent. Without that drag on the market, DeMarino easily could have netted 15 percent more for his house, Citron said.  “The foreclosures and short sales are definitely still a factor,” DeMarino said. “You’ve got to price it right if you want to sell it.”

Copyright © 2011, South Florida Sun-Sentinel

I wanted to let the Parkland and local public know about this great charity fundraising event for the Parkland Buddy Sports charity on October 20th, 2011 from 6:00-8:00 p.m. at Mythos Restaurant at the Walk In Coral Springs.  All proceeds are going directly to Parkland Buddy Sports.  I am involved with the Parkland / Coral Springs Business Group which is a group of local businesspeople that meet once per week to exchange ideas and business and to participate in helping local charities.  Our group is very passionate about the Parkland Buddy Sports charity.  We are looking to raise thousands of dollars for this great charity.  The donation is only $20.00 which includes dinner.

For more information on the charity, please visit:  Parkland Buddy Sports

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 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?

7111 N. State Road 7
Parkland, Florida 33073 (NW Corner of Hillsboro & 441)
Tel.: 954-510-0205 Fax: 954-510-0205
Hours: Mon – Sun 7am – 4pm

Bagels With offers Parkland residents fresh and tasty food with the convenience of easy ordering presented in a professional manner and consistent service every day. Enjoy a variety of choices for both breakfast and lunch with quality ingredients. Bagels With can also help cater your business events and parties.

Items On The Menu Include:
Home Made Bagels, Smoked Fish, Chopped Salad Bar, Baked Goods, Coffee Bar, Catering for all occasions: Birthdays, Anniversaries, Holidays, Showers, Power Lunches, Bris, Pool Parties, Shiva & much more

Bagels With has become a Parkland favorite where many residents can stop by almost daily to quickly pick up an appetizing meal.  The restaurant staff is very friendly and welcoming as soon as you enter the restaurant.  With reasonable pricing and fresh and homemade food, what more could you ask for?  For more information and to view a menu, please visit: Bagels With Cafe & Deli

Click Here To View More Parkland Restaurant Reviews

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.

Sold Price: $4,000,000
Parkland BBB Ranches
6 Full Bedrooms, 8 Full Bathrooms, 2 Half Bathrooms
12,404 Square Feet Under A/C
Year Built: 2002
Click Here For Full Details

Stunning Mediterranean inspired Mansion poised on a private nearly 3 acre lot. This custom built home features a magnificent exterior with pre-cast Stucco and balustrade finishes. The spacious interior is warm and intimate with an exquisite custom Bronze and marble fireplace.

This home also features soaring 15, 18 and 30 foot ceilings, and satin marble flooring.   Luxurious amenities include gourmet kitchen with walk in pantry, impressive home theater, Intimate Master with sitting room and Maid’s quarters with Private bath; 6 Bed,8 full Baths, 2 half baths and a 7-Car Garage.
Click Here For Full Details

This home sale is the most expensive in Parkland, Florida for 2011.  Who says there isn’t multi-million dollar buyers in today’s market?  There have been multiple sales in the million dollar price range in 2011.  Hopefully, this trend will continue for 2011 and into 2012.

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.