Real Estate
Current Challenges in Today’s Market By Patrick Simm
B
uyers and Sellers beware. Trying to buy or
sell a home in today’s rapidly evolving real estate market is, in theory, pretty simple. In actuality, it is not so easy. For at least the last 18 months, and more importantly within the past year, the inventory of homes for sale has been in short supply, leading to multiple offers from an abundance of buyers on homes priced even somewhat realistically in today’s market. Yes, even homes that are overpriced are attracting offers from eager buyers. How times have changed! A few years back, sellers were at the mercy of buyers, having to offer concessions in different forms in order to lure buyers. With the present state of the market, buyers are realizing that they have to forego asking for sellers to pay for all or part of their closing cost in order to get an offer accepted. This places severe pressure on the cross-section of the buyers that are qualified for FHA financing (requiring a minimal down payment of 3 ½ percent). They can only afford the minimal down payment required and are in need of closing cost assistance in order to accomplish the “American Dream”. These buyers are left with no other option but to take time to save more money in order to eliminate these challenges. They often end up getting “priced out” of the market when you take into the consideration the time it takes to save the additional funds versus the current rate of real estate property appreciation. Heartbreaking, although in reality it’s the simple truth.
cn the Expert Ask
Developmental Flatfoot in Children By Robert H. Sheinberg, DPM
D
evelopmental flatfoot is one of the most com-
mon conditions affecting the musculoskeletal system of children and teenagers. There is a tendency for the child’s flatfoot to be ignored or treated with benign neglect. The facts are that it is NOT normal, the majority of children do NOT outgrow it, and there IS cause for some concern.
CAUSES
▸▸ Ligaments in the arch which connect the bones together are loose, allowing the arch to collapse. ▸▸ Congenital bone abnormalities. ▸▸ Trauma to the tendons and ligaments in the inner arch. ▸▸ Tightness in the calf muscles, which aggravates the foot deformity.
SYMPTOMS
▸▸ Young children may constantly prefer to be carried by a parent or be put in a stroller due to fatigue in their legs. ▸▸ Leg pain, especially at night. ▸▸ Premature fatigue with activity, especially in young children or teenagers. ▸▸ Inner leg, ankle and foot pain with activity. ▸▸ Occasionally associated with inner knee pain and lower back pain.
SIGNS
▸▸ Lowering or complete collapse of the arch. ▸▸ Front part of the foot is turned out relative to the back part of the foot and the arch bulges towards the inside of the ankle. ▸▸ Knock-Knees. ▸▸ The feet, ankles, and legs just do not appear right upon examination when the patient is standing. ▸▸ A child that is overweight and lacks athletic ability. ▸▸ General inactivity or avoidance of activity in children. ▸▸ Abnormal shoe wear. ▸▸ The child or teenager does not run correctly.
TREATMENT At present, we are experiencing double digit appreciation in most areas of Southwest Broward County. How long can this appreciation continue? Realizing that historically the average annual home appreciation is somewhere between 3% and 4%, are we headed for another bubble? Only time will tell. For now, buyers targeting South Florida still find the home prices attractive enough. Property appraisals returning below the agreed upon selling price is another challenge that buyers and sellers are currently experiencing. Banks base their loan on appraisal values. The most recent trend is that Sellers are requesting buyers to pay the difference of the shortage of the amount whenever this occurs. Why would someone pay more for a property than it is actually worth? In most cases, if the difference in appraisal and the actual sales price is a small percentage, it’s worth paying the spread now instead of waiting to find another property. In today’s market, with a shortage of inventory, by the time a buyer finds another comparable property, I dare to say that property will be more than the difference the buyer is faced with paying now. What is the next challenge? With the state of the rapidly changing market at this time…….stay tuned. Patrick Simm, Managing Director of the Simmsational Real Estate Group at Keller Williams Realty Partners SW, can be contacted at 954-709-8258 for all your Real Estate related questions and/or inquiries. Visit www.PatrickSimm.com or on Facebook at Facebook.com/OneCoolRealtor
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▸▸ Complete physical examination of the lower extremity and spine to find the underlying cause. This includes examining the child’s gait (walking pattern). ▸▸ Physical therapy to strengthen weak muscles and loosen tight muscles and help to improve overall coordination. ▸▸ Occasionally immobilization of the extremity to loosen up tight muscles. ▸▸ Custom molded shoe insoles (orthotics) to help permanently support the foot and put it in its proper position. In most cases this will overnight correct fatigue and leg pain that the child experiences. It will also help to allow better performance in activities of daily living or sports. ▸▸ In some cases when conservative treatment fails, surgery can be done to help with the problem. Most often very simple procedures can be performed to give the child or teenager an arch, allowing them to walk, stand and run correctly and efficiently.
Robert Sheinberg, DPM, is a Board Certified Foot and Ankle Surgeon, Fellow American College of Foot and Ankle Surgeons, Diplomat American Board of Podiatric Surgery. He is a partner in Foot, Ankle and Leg Specialists of South Florida and specializes in treating infants, children, teens and adults. His partners are Dr. Al DeSimone, Dr. Fernando Moya, Dr. Alexander Bertot, Dr. Mark Fishman, Dr. Carlo Messina, Dr. David Shenassa, and Dr. Nathan Vela. The South Florida Institute of Sports Medicine in located in Weston at 1600 Town Center Blvd., Suite C, (954) 389-5900, and in Pembroke Pines at 17842 NW 2nd Street, (954) 430-9901.
March 2013 | To Advertise in Miramar Town Times, Please call 954-306-1007 | www.miramartowntimes.com