Parkland Parrot

Another Successful Short Sale Negotiated For Parkland Cypress Head Seller

Parkland Real Estate Agent Michael Citron Helps Negotiate Successful Short Sale

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.

Refinance Mortgage Programs For Underwater Parkland Homeowners Now Available

Calling All Underwater Parkland Florida Homeowners – New Refinance Program Now Available

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.

40 Parkland Florida Homes Sold In August 2011

Parkland Real Estate Single Family Market Home Update For August 2011 Presented By Realtor Michael Citron

Property Address	Type Of Listing	Community	Price	Beds/Baths	Square Feet
8720 NW 68th Court	Regular Sale	BBB Ranches	$4,000,000	6/8.5	12,404
7240 Lemon Grass Dr	Regular Sale	Parkland Golf & CC	$1,375,000	5/6.5	5,881
7588 NW 117th Lane	Regular Sale	Heron Bay – Highlands	$835.000	6/5	4,544
8011 Falls Lane	Regular Sale	Cypress Head	$775.000	5/4	4,749
9560 Eden Manor	Regular Sale	Parkland Golf & CC	$625,000	4/4.5	3,716
11953 NW 79th Court	Regular Sale	Heron Bay – Highlands	$780,000	4/3	3,214
12229 NW 72nd Street	Regular Sale	Heron Bay – Edgewood	$590,000	5/3	3,249
7426 NW 116th Lane	Regular Sale	Heron Bay – The Highlands	$580,000	5/3	3,433
10218 NW 66th Drive	Short Sale	Fox Ridge	$580,000	5/5	3,874
5836 NW 83rd Ter	Bank Foreclosure	Tall Pines	$575,000	5/4	4,409
11066 NW 79th Place	Regular Sale	Heron Bay  The Glen	$575,000	5/4	4,222
7273 NW 116th Lane	Short Sale	Heron Bay – The Highlands	$570,500	5/3	3,300
7550 NW 84th Avenue	Regular Sale	BBB Ranches	$565,000	4/2	2,711
9539 Ginger Court	Regular Sale	Parkland Golf & CC	$550,000	5/3.5	3,633
10581 NW 66th Street	Short Sale	Fox Ridge	$535,000	4/4	3,035
6611 NW 72nd Place	Regular Sale	Ternbridge	$535,000	5/3	2,894
7215 NW 110th Avenue	Regular Sale	Parkland Isles	$520,000	5/3	3,063
7024 NW 70th Ter	Regular Sale	Ternbridge	$517,000	4/4	2,928
7620 W Upper Ridge Dr	Regular Sale	Cypress Head	$515,000	4/2.5	3,295
9587 Cinnamon Court	Bank Foreclosure	Parkland Golf & CC	$505,000	5/4	3,947
10865 NW 66th Court	Short Sale	Parkland Isles	$500,000	5/3.5	3,085
6209 NW 71st Ter	Bank Foreclosure	Pine Tree	$496,200	5/3	3,3,13
8224 NW 107th Ter	Regular Sale	Heron Bay – Creekside	$487,000	4/3	3,011
7380 Wisteria Avenue	Regular Sale	Parkland Golf & CC	$457,000	3/2.5	3,523
10340 NW 60th Place	Regular Sale	Waters Edge	$450,000	4/3.5	3,423
7504 NW 114th Ter	Regular Sale	Heron Bay – The Reserve	$425,000	4/4	2,575
10075 Vintage Place	Short Sale	Parkland Golf & CC	$425,000	3/2.5	3,534
6885 Long Leaf Dr	Short Sale	Parkland Golf & CC	$418,000	5/3	4,317
6020 NW 96th Drive	Regular Sale	The Landings	$415,000	4/3	2,509
6338 NW 75th Way	Short Sale	Pine Tree	$410,000	4/2.5	3,032
12087 NW 76th Place	Short Sale	Heron Bay – The Greens	$380,000	4/2.5	2,487
6165 NW 107th Ter	Bank Foreclosure	Parkland Isles	$379,000	4/3	3,024
11938 NW 82nd Street	Regular Sale	Heron Bay – Somerset	$350,500	3/2	1,814
11655 NW 71st Place	Short Sale	Heron Bay – Bay Cove	$340,000	3/2.5	2,196
7006 Spyglass Avenue	Bank Foreclosure	Parkland Golf & CC	$338,000	3/3	2,905
7086 Spyglass Avenue	Short Sale	Parkland Golf & CC	$335,000	5/3.5	4,100
7866 NW 60th Lane	Short Sale	Heron Bay – Banyan Isles	$279,000	4/2.5	2,593
8072 NW 125th Ter	Bank Foreclosure	Heron Bay – Sable Point	$275,000	4/3	3,503
12420 NW 83rd Court	Regular Sale	Heron Bay – Sable Point	$260,000	5/3	3,244
6004 NW 74th Street	Short Sale	Parkwood	$235,000	4/2	2,669

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.

Should I Wait To Buy A Parkland or South Florida Home?

Why Wait To Purchase A Parkland Property – Now Is The Best Time To Buy

I have been telling on-the-fence Parkland and South Florida home buyers that now is the best time to buy a home.  You no longer have to wait for that deal of a lifetime, as the property of your dreams is waiting for you right now!  Read the chart below that I saw on the KCM Blog:

As you can see from the chart above, you should NOT be waiting for the right time to buy.  If you are seriously thinking about buying a Parkland or South Florida home, now is the time, as interest rates are at record low levels.  Prices are also very affordable, but home costs will increase in the coming months and years.  Remember, home prices are not the only factor that you should be looking at when considering a home purchase.  Instead, mortgage interest rates are the major factor as well your monthly housing expenses.  But, mortgage guidelines are changing and tightening soon.  Now is the time to act!

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 Posts:
Top 5 Characteristics Buyers Need From Their Parkland Real Estate Agent
Will Summer Be The Busiest Parkland Real Estate Season?
Should I Rent Or Buy A Parkland Home?

Ironic But It Is The Best Time To Sell Or Buy A Parkland Real Estate Home

Calling All Parkland Home Buyers and Home Sellers – NOW Is The Time To Make A Move!

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.