Parkland Parrot

Parkland Real Estate Home Market Update June 2010

Parkland Real Estate Market Home Update For June 2010 Presented By Realtor Michael Citron

There were 43 total single family sales for the month of June, 2010 ranging in price from $231,000 to $1,600,000.  Last month, there were 40 total single family home sales.

There were 3 more Parkland single family home sales in the month of June than in May, 2010.  Sales have continued to increase for the month of May and June.  We are telling our perspective buyers to get off the fence and buy now, while mortgage rates are at record low levels and a decrease in available inventory.

If you are thinking about buying a Parkland residence and looking for a professional team of Realtors that will help you throughout the entire buying process, then please call 954-609-0591.

Our website, ParklandParrot.com, is dedicated to Parkland Real Estate.  Here, you will also be able to find a plethora of information on Parkland schools, houses of worship, neighborhood information, city events, and much more.

Related Articles:
Parkland Real Estate Sales Up And South Florida Foreclosures Down
The Effect Of Increased Mortgage Rates On Parkland Real Estate?

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 and need to speak with a Parkland Realtor or South Florida Realtor, please give us a call at 954-609-0591 or send a note to the squawk.

Top 7 Questions Sellers Must Ask When Interviewing A Realtor

We have received a lot of inquiries from potential sellers in regards to asking the right questions when interviewing a Realtor.  I posted an article: 23 Questions Sellers Must Ask When Interviewing A Realtor.

In the following video, Realtor Michael Citron of the Parkland Parrot Real Estate Team at RE/MAX discusses the top 7 of the 23 most important questions all potential sellers should use when interviewing the right agent for the job of selling your home. Watch the video below:

Please visit the following link to view the rest of the 23 questions:

23 Questions Sellers Must Ask When Interviewing A Realtor

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.

23 Questions Sellers Must Ask When Interviewing A Realtor

When interviewing any agent to list your home, it is wise to ask questions that will reveal the agent’s ability to successfully accomplish your real estate goals.  Before our team goes on a listing appointment, we email or drop-off a Realtor-Questionnaire that ALL sellers should ask when interviewing the right agent for the job of selling their home.

No matter if the agent is your friend or even an agent that you worked with in the past,  the current market is unlike any other!  As a result, the older agent that sold homes at the height of the market might not truly be the best agent for the job.   Read on … Read the rest of this entry »

Parkland Home Equity Is Not Money In The Bank

I hate to play financial adviser but ponder this thought:

If your banker told you that for the next 6-12 months that instead of giving you interest on your money, the bank would instead be pulling about 1-2% of your money out of the bank EVERY Month!  What would you do?

If your home was a bank, it would tell you to immediately withdraw your hard-earned money!  As the market continues to settle, many homeowners that did not purchase a home in the last four years and did not refinance their loans are truly in the driver’s seat!  But, the only way to capitalize on homeowners’ good fortune is to sell while the equity is higher than it will be in the coming months.

We all watch and read the news!  All the research points to the market continuing its adjustment phase.  I strongly believe that our market will level in the next year or so and become like the market of early 1990’s.  During the 1990’s, the real estate market did not appreciate at a rapid pace like it did five years ago.

Back then, homeowners would see a comfortable 1-2% appreciation per year.  But before we get to that day, the market is still coming down! Read the rest of this entry »