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.