There were 19 total sales for the month of February, 2010 ranging in price from $216,000 to $1,650,000. Of the total sales in the month of February, 11 were regular sales, 5 were short sales, and 3 were bank foreclosure sales.
Good news is that Parkland had 9 more total single family home sales in February than in January of this year. We have increased our sales momentum, which is good for our overall market.
Unfortunately, of the total 19 sales, 8 of them were distressed sales which proves that short sales and bank foreclosures will continue to have a negative impact on the real estate market.
On a brighter note, we expect to see more sales in the next three months as sales momentum from buyers should increase due to low interest rates, the $8,000 first time home buyer tax credit, and knowing that FHA mortgage guidelines will tighten in the Spring and Summer months making now the best time to get off the fence and buy a Parkland home.
We are also proud to announce the closing of our Pine Tree Estates listing located at: 6920 NW 66TH AV, Parkland, FL 33067 in the month of February.
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