Parkland Parrot

Parkland Real Estate Home Sales Update December 2009

There were 31 total single family sales in Parkland ranging from $232,000 to $875,000. 6 were Short Sales, 8 Foreclosures, and 17 Regular Sales.  55% of the homes that sold were Regular Sales, and 45% were Distressed Sales.

There were exactly 31 single family sales in the month of November in Parkland.  There were 5 more regular sales and 5 less distressed sales in the the month of December.  Prices have been continue to decline, as sales are increasing.  Many of the distressed sales were in the lower price ranges between $230,000’s to $330,00’s.

We are again glad to see that home sales have continued to pick up in Heron Bay and Parkland Golf & Country Club.  Let’s hope the Parkland real estate market continues to improve, and sales continue to rise.

To view November 2009 Parkland sales, please click here.

I Know The Value Of Your Home. Do You?  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 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.

Could Home Foreclosure Mediation Be Mandatory Soon?

Let’s face it!  You hear on every media outlet that Home Foreclosures are increasing throughout the United States causing homeowners to be forced out of their homes as well as drastically decreasing home values!  A study performed by a Florida Supreme Task force has found that approximately 10.5% of the 3.5 million Florida mortgage loans were in some stage of the foreclosure process.

I just read a great editorial from Florida Trend which highlights Collins Center for Public Policy, which is a research organization affiliated with Florida State University.  The Collins Center is taking the initiative in three circuit court districts, including Miami-Dade, to force lenders to try and mediate and do a loan modification before seeking foreclosure.  The Collins Center Mediation Program  has kept over 1/3 of the distressed foreclosure-bound homeowners in their homes at a modified mortgage payment that they can actually afford!

The Collins Center also arranges meetings with distressed homeowners and local financial counselors to go over all of their options including discussing President Obama’s Hope For Homeowners Program. This month, the Florida Supreme Court is also meeting to decide if mortgage mediation should be required by ALL lenders and making foreclosure the last resort for distressed homeowners.

I wish President Obama and Congress would have passed a bill like this last year.  Foreclosures will continue to negatively affect the economy in 2010.  We can help stop the bleeding, as the Collier Center’s program is not costing any tax payer dollars.  As a result, thousands of homeowners are still in their homes because of this initiative!  Can we get the rest of the counties in Florida, as well as the rest of the country, to FINALLY get on board?  I sure hope so!

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.

Has The Regular Sale Become An Endangered Species?

Short Sales … Enter At Your Own Risk!

Regular Sale … You Know The Home That Is NOT A Distressed Sale, Foreclosure, Short Sale, Or Wait Forever To Hear From A Bank Property Listing …

The regular sale has become an endangered species as more and more properties being sold around the country are distressed sales!  But, my question is will this trend continue as the press boasts how these homes are the BEST Deals out there on the market? Unfortunately, you do not hear the negatives of buying a distressed sale in today’s market.

Become An Informed Buyer:

Below, please find a list of the 6 negatives of purchasing a distressed sale: Read the rest of this entry »

Should I Buy An Approved Or Unapproved Short Sale?

What Is The Difference Between An Approved And Unapproved Short Sale?

Many of our potential buyers are asking this same question before putting an offer on a property.  The answer we tell them is:  Not Much!

With the lack of properties on the market for certain price ranges, the options of putting offers on “Approved” short-sales certainly represent an option for many buyers. However, after weeks of waiting, the buyers are still looking for an answer from the lien holders (the banks).  At this point, this is where the misconception of the “Approved” word comes in.

An “Approved” Short-Sale simply means that the bank, or lien holder, has already processed most of the paperwork required from the homeowner to approve the short-sale.  In many cases, the bank has also received the BPO (Broker Priced Opinion) with an estimated value for the subject property. Read the rest of this entry »