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Parkland, FL Real Estate News

By Jon Klein, Search Parkland Homes for Sale - Parkland FL
(Real Living 1st Choice Realty)
When Parkland Florida homeowners get ready to list their Parkland home for sale, advice will often come from all corners of their personal and social network -- what within the home to upgrade; what to repair; what to replace. And, although some advice remains valuable, much of it can be ignored. The costs of an expensive upgrade are rarely recouped at the time of sale and studies show that smaller, simpler actions can yield a bigger return on your investment of time and money. Here are four inexpensive, yet highly effective, ways to prepare your home for sale. Improve the curb appeal It's not just the inside of your home which should be inviting to buyers -- the outside of your home should be, too. Trim hedges, maintain the lawn, power wash the walls and try to inject some color, wher...
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By Jon Klein, Search Parkland Homes for Sale - Parkland FL
(Real Living 1st Choice Realty)
According to a joint release from the U.S. Census Bureau and the Department of Housing and Urban Development, Housing Starts rose 3.6%in October 2012, climbing to a seasonally-adjusted, annualized rate of 894,000 units. A "housing start" is a new home on which construction has started and the report gives buyers and sellers across FL yet one more reason to be optimistic for the 2013 housing market. Regionally, Housing Starts varied. The West and Midwest Regions posted gains between September and October 2012; and, the South and Northeast Regions posted declines. The latter was affected by the effects of Hurricane Sandy. West Region : +17.2% from the month prior Midwest Region : +8.9% from the month prior South Region : -2.5% from the month prior Northeast Region : -6.5% from the month p...
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By Jon Klein, Search Parkland Homes for Sale - Parkland FL
(Real Living 1st Choice Realty)
After a small decline in September, Existing Home Sales rebounded in October, increasing a modest 2.1%. The housing market's slow, steady recovery continues as sales volume in all four regions expanded last month with the exception of the Hurricane Sandy-affected Northeast. The National Association of REALTORS® monthly Existing Home Sales Report comprises completed sales of single-family homes, townhomes, condominiums, and co-ops. The Existing Home Sales report is compiled on a seasonally-adjusted, annualized basis. It shows a 10.9 percent sales increase as compared last year. Sales volume might otherwise be higher, however, if not for a lack of homes for sale. Total housing inventory fell 1.4 percent to 2.14 million homes last month which, at the current sales pace, represents a 5.4-mo...
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By Jon Klein, Search Parkland Homes for Sale - Parkland FL
(Real Living 1st Choice Realty)
The National Association of Home Builders (NAHB) released its Housing Market Index (HMI) Tuesday, which showed a sharp, 5-point increase to 46 for November 2012, marking the seventh consecutive monthly gain for the HMI, and lifting the index to its highest point since May 2006. Readings under 50 indicate unfavorable housing conditions for builders. Readings over 50 signal "good" conditions. The Housing Market Index is a measure of builder confidence, published monthly, based on a survey sent to NAHB members which asks them to rate housing market conditions. In November, home builders reported gains in two of the three areas surveyed: Current Single-Family Sales: 49 (+8 from October 2012) Projected Single-Family Sales: 53 (+2 from October 2012) Buyer Foot Traffic: 35 (unchanged from Octo...
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By Jon Klein, Search Parkland Homes for Sale - Parkland FL
(Real Living 1st Choice Realty)
The Federal Reserve released its October Federal Open Market Committee (FOMC) meeting minutes last week, revealing a Fed in disagreement about the future of the U.S. economy and about what, if any, stimulus may be warranted in the next 12 months. The "Fed Minutes" recaps the conversations and debates that transpire during an FOMC meeting, and is published 3 weeks after the meeting adjourns. According to the October minutes, FOMC members "generally agreed" that a housing recovery is under way nationwide, citing increased housing prices, higher sales volume, and rising construction in many parts of the country. FOMC members made no major policy changes at their last meeting, but agreed that a continuation of additional asset purchases would likely be necessary in 2013, in order to achieve...
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By Jon Klein, Search Parkland Homes for Sale - Parkland FL
(Real Living 1st Choice Realty)
According to data from RealtyTrac, a national foreclosure-tracking firm, the number of foreclosure filings increased 3 percent in October as compared to September 2012, climbing to 186,455 U.S. properties. RealtyTrac defines a "foreclosure filing" as any foreclosure-related action including a Notice of Default, a Scheduled Auction, or a Bank Repossession. On average, 1 in every 706 U.S. homes had a foreclosure filing during the month of October. For the 24th consecutive month, the number of bank repossessions fell, down less than 1% from the previous month and down 21% from October 2011. Bank repossessions dropped in 37 states, plus the District of Columbia, indicating that banks are seeking alternatives to foreclosure. Distressed home sales, which include foreclosures and short sales,...
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By Jon Klein, Search Parkland Homes for Sale - Parkland FL
(Real Living 1st Choice Realty)
According to the Federal Reserve's quarterly Senior Loan Officer Survey, it's getting easier to get approved for a home loan. Between July - September 2012, fewer than 6%of banks tightened mortgage guidelines -- the fourth straight quarter that's happened-- and roughly 10% of banks actually loosened them. For today's buyers and refinancing homeowners in Parkland or Coral Springs , softening guidelines hint at a quicker, simpler mortgage approval process; one which gives more U.S. homeowners better access to today's ultra-low mortgage rates. However, although banks are easing guidelines, it doesn't mean that e have returned to the days of no-verification home loans. Today's mortgage applicants should still expect to provide lenders with documentation to support a proper loan approval. So...
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By Jon Klein, Search Parkland Homes for Sale - Parkland FL
(Real Living 1st Choice Realty)
To refinance a mortgage means to pay off your existing loan and replace it with a new one. There are many reasons why homeowners opt to refinance, from obtaining a lower interest rate, to shortening the term of the loan, to switching mortgage loan types, to tapping into home equity. Each has its considerations. Lower Your Mortgage Rate Among the best reasons to refinance is to get access to lower mortgage rates. There is no "rule of thumb" that says how far rates should drop for a refinance to be sensible. Compare your closing costs to your monthly savings, and determine whether the math makes sense for your situation. Shorten Your Loan Term Refinancing your 30-year fixed rate mortgage to a 20-year fixed rate or a 15-year fixed rate is a sensible way to reduce your long-term mortgage c...
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By Jon Klein, Search Parkland Homes for Sale - Parkland FL
(Real Living 1st Choice Realty)
The calendar has turned to November; the month during which we transition from fall into winter (not so much in Florida). With less sunlight, colder temperatures, and shorter days ahead for Parkland , it's an opportune time to cross those last-minute maintenance items off your homeowner to-do list. Practicing preventive care -- both inside and outside your home -- can save thousands of dollars in repairs come later this winter. What follows is a brief checklist to get you started. For outside the home : Inspect exterior lights and outlets. Be sure that none of the outlets are cracked or broken, or have exposed wires. Clean gutters and clear all blockages. If leaves are falling, redo after leaves are off all trees. Inspect and test outdoor railings and stairs. Have problem trees trimmed,...
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By Jon Klein, Search Parkland Homes for Sale - Parkland FL
(Real Living 1st Choice Realty)
Nationwide, mortgage rates are low in Florida and home prices remain relatively low, too. This combination, plus rising rents, is pushing renters in some cities -- including Parkland & Coral Springs -- toward first-time homeownership. Buying your first home can be exciting, but you should also do your research to make sure that you ask the proper questions of the process, and make the best choices for yourself and your household. For example, recommended questions for first-time buyers to ask home sellers include : What major repairs have been made to your home? Although standard disclosure forms are supposed to provide information regarding past damage and renovation to the property, there are occasionally repairs that are omitted or otherwise forgotten. Be proactive and ask pointed qu...
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By Jon Klein, Search Parkland Homes for Sale - Parkland FL
(Real Living 1st Choice Realty)
The U.S. economy continues to improve. The National Association of Homebuilders released its Improving Markets IndexTuesday. The report attempts to identify U.S. metropolitan areas in which the economy is improving, demonstrating "measurable and sustained growth". 125 U.S. markets are qualified as "improving" this month, a 22-market jump from the month prior and and all-time high for the index which launched late last year. Compared to November 2011, this month's IMI has climbed more than four-fold, rising from last year's reading of 30. This jump suggests that housing recovery is firmly taking root, helping to generate needed jobs and economic growth across much of the country. So what qualifies a market as "improving"? The NAHB uses strict criteria. First, the group gathers data from ...
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By Jon Klein, Search Parkland Homes for Sale - Parkland FL
(Real Living 1st Choice Realty)
Another month, another good showing for the U.S. economy. Mortgage rates are performing surprisingly well after Friday's release of the October 2012 Non-Farm Payrolls report. The Bureau of Labor Statistics' monthly report beat Wall Street expectations, while also showing a giant revision to the previously-released job tallies of August and September. 171,000 net new jobs were created last month against calls for 125,000 and revisions for the two months prior totalled 84,000. October also marked the 25th consecutive month of U.S. job growth -- a period during which 3.8 million jobs have been reclaimed. This sum represents more than half of the 7.3 million jobs lost between 2008-2009. Nationally, the Unemployment Rate rose by one-tenth of one percent last month to 7.9%. It may seem count...
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By Terri Poehler, Coral Springs Real Estate Agent
(Realtor)
Parkland Closed Sales These prices in Parkland amaze me. Parkland Closed Sales are interesting to review for many reasons. Many buyers still believe it is too hard to get in, maybe it's out of their reach. But here are the very recent sales and at very good deals. The home on Spyglass went extremely fast. It was a bank owned property and the buyer got a beautiful home for only $440,000. in the Parkland Golf and Country Club. A community that is luxurious and surrounded by a Greg Norman Golf Course. And the one in Heron Bay that sold for $380,000.! This home has 5 bedrooms and 3 baths! It sits on one of the beautiful lakes in the community with the master bedroom and bathroom built downstairs, the kitchen has all the upgrades including wood cabinetry and granite counter tops with the ref...
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By Jon Klein, Search Parkland Homes for Sale - Parkland FL
(Real Living 1st Choice Realty)
Homeowners associations (HOA) are legal corporations formed by a real estate developer to market, to manage, and to sell homes and lots in a residential subdivision. They're most commonly formed for condominiums and planned urban developments (PUDs), a category which includes suburban communities including most Parkland communities. HOA Articles of Incorporation typically grant developers privileged voting rights in governing the association during its infancy, while providing the means for the developer to exit financial and legal responsibility for the organization, transferring ownership to the homeowners of the association. This transfer typically occurs after a predetermined number of units have been sold -- often two-thirds of the available lots and/or units. Each homeowners assoc...
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By Jon Klein, Search Parkland Homes for Sale - Parkland FL
(Real Living 1st Choice Realty)
Have you ever walked into your kitchen and instantly felt hungry? Rarely do people think about the colors that they choose to paint their kitchens. They are often too busy worrying about whether the kitchen will match the rest of the home, or whether the colors will be satisfactory to the rest of the household. However, when painting and decorating your kitchen, you may want to think about the process in a way many people do not -- how the colors you choose will affect the way in which you eat. As behavioral psychologists have documented, the presence of specific colors in your kitchen can change your eating habits and your cravings for food. Here are some examples : The color red increases your appetite. This is why so many restaurants paint their walls red. Although associated with ro...
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By Jon Klein, Search Parkland Homes for Sale - Parkland FL
(Real Living 1st Choice Realty)
Friday morning, the government's Bureau of Labor Statistics will release its Non-Farm Payrolls report, more commonly called the "jobs report". Depending on how the jobs data reads, FHA and conforming mortgage rates may rise, or fall. This is because today’s mortgage market is closely tied to the U.S. economy, and the U.S. economy is closely tied to job growth. Economists expect that employers have added 125,000 net new jobs to their payrolls in October 2012, up from September's tally of 114,000 net new jobs. Jobs have been added to the economy over 24 consecutive months leading into Friday's release, and approximately 4.7 million jobs have been created in the private sector since early-2010. So, what does this mean for home buyers and refinancing households throughout Parkland ? It mean...
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By Jon Klein, Search Parkland Homes for Sale - Parkland FL
(Real Living 1st Choice Realty)
Home values rose to close out the summer, according to the S&P/Case-Shiller Index, a national home-valuation tracker. Nationwide, values rose 0.9% between July and August 2012 with 19 of 20 tracked markets showing improvement. Only one tracked city -- Seattle, Washington -- showed a decrease, falling just 0.1 percent. On an annual basis, 17 of the 20 Case-Shiller Index markets improved, led by Phoenix. Home values in the Arizona city are up 18.8 percentfrom August 2011. The next closest city in terms of home price gains is Detroit, Michigan at 7.6 percent We should temper our excitement for the August Case-Shiller Index, however. Although it suggests an ongoing U.S. housing recovery, the methodology of the Case-Shiller Index is far-from-perfect. In fact, one could argue that the index ...
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By Jon Klein, Search Parkland Homes for Sale - Parkland FL
(Real Living 1st Choice Realty)
Home resales are expected to finish the year with strength. Last month, for the fifth straight month, the Pending Home Sales Index hovered near its benchmark value of 100, registering 99.5 in September. The Pending Home Sales Index tracks homes under contract to sell, but not yet sold, and is published by the National Association of REALTORS®. The index is a relative one. It compares today's housing market activity to the housing market activity of 2001 -- the index's first year of existence. The Pending Home Sales Index has averaged 99.1 this year. Among housing market indicators, the Pending Home Sales Index is unique. It doesn't report on prior market activity as the Existing Home Sales and New Home Sales reports do. By contrast, the Pending Home Sales Index is a forward-looking indi...
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By Jon Klein, Search Parkland Homes for Sale - Parkland FL
(Real Living 1st Choice Realty)
Mortgage markets ended the week slightly better last week. Wall Street took its cues from U.S. economic data, from developments in Europe, and from the Federal Reserve, moving mortgage rates lower in Florida and nationwide. Pricing for both conforming and FHA mortgage rates improved between Monday and Friday, with the majority of gains occurring late in the week. The timing of the gains explains why Freddie Mac's weekly mortgage rate report showed the average 30-year fixed rate mortgage rate rising this week when, in fact, it did not. Because Freddie Mac conducts its mortgage rate survey at the start of the week, its survey respondents had no time to acknowledge late-week improvements. Freddie Mac said the 30-year fixed rate mortgage rate rose to 3.41% for home buyers and refinancing ho...
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By Jon Klein, Search Parkland Homes for Sale - Parkland FL
(Real Living 1st Choice Realty)
The U.S. housing market appears headed for a strong close to 2012. According to the U.S. Census Bureau, the number of new homes sold jumped to 389,000 units in September 2012 on a seasonally-adjusted, annualized basis. Not since the expiration of the $8,000 federal home buyer tax credit in April 2010 have new homes sold at such volumes. September's tally marks a 5.7 percent increase from the month prior, and a 27 percent increase from September 2011. There are now just 145,000 new homes for sale nationwide and, according to the National Association of Homebuilders, buyer demand continues to grow. At today's pace of home sales, the entire U.S. inventory of new homes for sale would sell out in 4.5 months. By way of comparison, in January 2009, new home supply was 12.1 months. When home su...
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