Parkland Real Estate Home Market Activity

As we get closer towards the end of the calendar year, I wanted to research what types of homes have been selling in Parkland.  After further research, there have been a total of 274 single family sales year to date.  Among the 274 sales, 107 were distressed sales (Short sales or bank foreclosures), and 167 were regular sales.

It is amazing to believe that distressed sales are becoming even more prevalent in Parkland.  Almost 40% of the total sales were foreclosures or short sales in 2009.  Even in a luxury market like Parkland, distressed sales are going to continue to grow in 2010.

I also researched and found that there are currently 78 pending short sales, and 16 pending bank foreclosures, where potential buyers and sellers are anxiously awaiting approvals from the banks.  There are ONLY 31 pending regular sales awaiting to be closed.

If you have owned a home in Parkland for an extended period of time  and are not in financial distress, it may be a perfect time to list your home on the market.  Many buyers want to close sooner than later and do not wish to experience the long process of purchasing a distressed sale.  Your home may be worth more than you think! You may also be able to take advantage of portability on your taxes to another property.  Please give us a call at 954-609-0591 for a free comparative market analysis.

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.

With the local real estate market starting to pick up, more good news from the homefront that interest rates are down at record levels again!

According to James Venney, a mortgage banker with Gibraltar Private Bank and Trust, mortgage rates on 30 year fixed loans have fallen under 5%.  Even more exciting that jumbo rate loan (loans over $417,000) restrictions have relaxed recently. Venney also points that buyers can now put down 20% and get a rate in the high 5% range.

James Venney also writes a great mortgage blog for the local South Florida market called: Juicy Estates

As a result of the drop of interest rates and especially the relaxed jumbo rate loans, this is all GREAT news for the Parkland real estate market!

Parkland price points are higher than most Broward County cities where buyers in the past were having difficulty coming up with the high downpayment requirements to get  jumbo loans.  If rates stay in the low 5%, we will have a strong finish in 2009!

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.

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.