Parkland Parrot

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.

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First Time Homebuyer Tax Credit Expires in ONLY 43 Days

Calling ALL Homebuyers and Home Sellers!  Real Estate is RED HOT right now!

The $8,000 first-time homebuyer tax credit will expire on April 30, 2010.  This means that all potential first-time homebuyers, or buyers that have not owned a primary residence for the past 5 years, must have an executed purchase agreement in place by April 30,2010 and close at the end of June.

Buyers are NOT looking for short sales, as these homes will most likely not be able to close before the end of June.  As a result, potential home sellers should get off of the fence and list their homes on the market for sale, as buyers are willing to pay a premium in order to receive the $8,000 tax credit.

Many of our clients, both buyers and sellers, are asking if we feel that the first-time home buyer tax credit will be extended again.  I recently wrote an article addressing entitled: Should Homebuyer Tax Credit Be Extended Again?

We would be surprised if the government extended the $8,000 first time homebuyer tax credit based on the information provided to the real estate community.  But, even if the tax credit is extended, FHA guidelines will tighten making now the best time to buy or sell 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, please give the Parkland Real Eestate Team a call at 954-609-0591 or send a note to the squawk.

Should Homebuyer Tax Credit Be Extended Yet Again?

Word on the streets is that the National Association of Realtors (NAR) is again lobbying lawmakers to extend the $8,000 first time home buyer tax credit until the end of 2010.

But, Senator Johnny Isakson, former real estate agent and last year’s advocate for the 2nd extension, is not on board.  Last November, Linda Goold, NAR’s director of tax policy practically told the public and Realtors that the second tax credit extension would be the last one.

Can the government afford to extend the tax credit for a third term?  Where are we getting all of this money since are deficit is at a record high level?

If the government extends the tax credit for a third time, it will help the real estate market.  But, when the credit was extended in November, many buyers went “back on the fence” knowing that they had more time to purchase and still receive the $8,000 tax credit.  Sales in November to February have been slow as buyers have more time to wait.

If the government announces that there will be no further extension, then there will be a strong urgency for potential buyers to purchase properties by the March 31st deadline!  Please read my article on the tax credit guidelines by clicking:  FHA Mortgage Guidelines Will Tighten In The Spring

As FHA mortgage guidelines tighten in the Spring and Summer of 2010, the tax credit extension could certainly help the market for the long run!  We here at the Parkland Parrot will keep you posted as soon as new information is supplied to the real estate community.

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.

Is South Florida Real Estate A Good Investment?

Is buying a home a good investment?  Should I instead put my money in the stock market that seems to be rebounding?  These are all questions that potential buyers are pondering as they sit on the real estate fence concerned if their real estate investment could be a profitable investment.

I recently read an article by MSN Money.com that studied the period from the beginning of 2000 to the end of 2010 of the stock market versus the real estate market.  Above, please see their chart proving that real estate is the best long term investment.

If you would have invested $100,000 of your hard earned money in the Dow in 2000, you would have lost $5,000 and now be left with $95,000.  Think that is upsetting, then take a look at the S&P 500.  If you would have invested that same $100,000 in the S&P 500 in 2000, you would have taken a $20,000 loss and be left with only $80,000.  Worst of the bunch would have been the NASDAQ.  Invest your $100,000 inheritance in technology stocks, and you would have lost 40% of your money and only have $60,000 left to show for.

But despite all of the media buzz of the crash in the national real estate market in the past five years, if you would have taken the $100,000 and invested in the real estate property in January of 2000, you would have made $50,000 by the end of 2009 and have $150,000 in your pocket.

Of course, real estate is not like the stock market!  If you are looking for a quick return on your investment, then real estate is not for you.  But, if you are looking for a long-term investment with excellent returns, real estate is and always will be the best return on your investment for you and your family.

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.

Is Now The Best Time To Buy A Parkland Home?

Realtor Michael Citron of the Parkland Parrot Real Estate Team at RE/MAX answers the question if NOW is the best time to buy a home in Parkland or South Florida.

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.