Parkland Parrot Squawk Real Estate Report Winter 2017

Winter 2017 Edition

SQUAWK REPORT

PARKLAND REAL ESTATE UPDATE

the

POWER

of the

PARKLAND

PARROT

We Are Still Ranked The

#

1

Team

For Most Sales in the City of Parkland by

and

Michael is the #1 Agent in Florida

Stephanie Citron • Michael Citron Multi-Million Dollar Producers

ParklandParrot.com • 954.609.0591

OVER $45 MILLION SOLD IN 2016 Thank you for Making 2016 Our Best Year EVER! OUR 2016 SALES • • • • • • • • • • • • • • • • • • • • • • • • • •

11635 NW 81st Pl, Parkland 7785 NW 128th Ave, Parkland 6631 NW 61st Ave, Parkland 8050 NW 12st Dr, Parkland 8225 NW 117th Ave, Parkland 6103 NW 124th Ave, Coral Springs 8880 Watercrest Cir, Parkland 9060 Cattail Run, Parkland 7276 NW 116th Ln, Parkland 7723 NW 66th Terr, Parkland 6678 NW 70th Pl, Parkland 600 NE 22nd St, Miami 10967 NW 80th Mnr, Parkland 12411 NW 63rd St, Coral Springs 6662 NW 108th Terr, Parkland 12372 Antille Dr, Boca Raton 9847 Blue Isle Bay, Parkland 6288 NW 72nd Way, Parkland 7207 NW 8th Dr, Parkland 9400 NW 42nd St, Coral Springs 8945 Watercrest Cir West, Parkland 7406 NW 115th Terr, Parkland 6061 NW 69th Way, Parkland 7355 NW 68th Ave, Parkland 6378 NW 107th Terr, Parkland 7290 NW 111th Way, Parkland

• • • • • • • • • • • • • • • • • • • • • • • • • •

7515 NW 65th Ln, Parkland 4211 NW 62nd Ave, Coral Springs 12620 NW 79th Mnr, Parkland 11237 NW 70th Court, Parkland 7805 NW 123rd Ave, Parkland 6520 NW 57th Ln, Parkland 4481 NW 42nd Terr, Coconut Creek 7713 NW 124th Terr, Parkland 7101 NW 75th St, Pompano Beach 5878 NW 125th Terr, Parkland 8033 NW 70th Ave, Parkland 11114 NW 5th Mnr, Coral Springs 6670 NW 75th Pl, Parkland 6979 NW 75th St, Parkland 5800 NW 60th St, Parkland 6013 NW 47th Pl, Coral Springs 7868 NW 71st Way, Parkland 7749 NW 71st Way, Parkland 5857 NW 122nd Terr, Coral Springs 4072 NW 63rd St, Coconut Creek 2099 Bonnie St, Boca Raton 9831 Blue Isle Way, Parkland 7100 NW 75th St, Parkland 6032 NW 77th Dr, Parkland 19633 Back Nine Dr, Boca Raton 8000 NW 70th Ave, Parkland

• 6924 NW 62nd Terr, Parkland - REPRESENTED BOTH BUYER & SELLER • 6119 NW 63rd Way, Parkland - REPRESENTED BOTH BUYER & SELLER • 6101 NW 60th Terr, Parkland - REPRESENTED BOTH BUYER & SELLER • 3718 NW 66th Ave, Parkland - REPRESENTED BOTH BUYER & SELLER • 4977 NW 81st Ave, Coral Springs - REPRESENTED BOTH BUYER & SELLER • 11039 NW 81st Mnr, Parkland - REPRESENTED BOTH BUYER & SELLER • 4847 NW 112th Dr, Parkland - REPRESENTED BOTH BUYER & SELLER • 6000 NW 66th Pl, Parkland - REPRESENTED BOTH BUYER & SELLER • 5831 NW 80th Terr, Parkland - REPRESENTED BOTH BUYER & SELLER • 7640 NW 47th Ave, Coconut Creek - REPRESENTED BOTH BUYER & SELLER • 2403 Antigua Cir #G1, Coconut Creek - REPRESENTED BOTH BUYER & SELLER

# 2

1

Florida Agent 954.609.0591

• • • • • • • • • • • • • • • • • • • • • • • • •

21215 Raindance Ln, Boca Raton 6524 Ibis Way, Coconut Creek 10720 NW 48th St, Coral Springs 3680 NW 114th Ave, Coral Springs 4601 Mimosa Terr #1314, Coconut Creek 15628 Messina Isle Court, Delray Beach 3045 Green Turtle Pl, Margate 1212 Rowayton Cir, Wellington 4720 Mimosa Pl #906, Coconut Creek 4761 NW 15th St, Coconut Creek 6121 Hogan Creek Rd, Margate 6548 Hidden Cove Dr, Davie 7183 Briella Dr, Boynton Beach 5941 NW 47th Terr, Coconut Creek 19530 Black Olive Ln, Boca Raton 2603 Blue Sage Ave, Coconut Creek 3368 Deer Creek Alba Cir, Deerfield Beach 2630 NW 99th Ave, Coral Springs 6110 Hogan Creek Rd, Margate 2901 Riverside Dr #104, Coral Springs 4057 NW 22nd St #214C, Coconut Creek 1134 Coral Club, Coconut Creek 113 Gardens Dr #204, Pompano Beach 568 Saxony Ln, Delray Beach 4144 NW 90th Ave #202, Coral Springs

PARKLAND NEWS BYTES The Street Light Project is underway and will be completed by the end of the year. This will add street lights on University Drive and Nob Hill Road.

The City is adding more multi-purpose fields at Terramar Park.

4 Pickle Ball Courts are being added to Terramar Park.

There will be a new all inclusive playground built at Pine Trails Park.

Tennis Center will be opening soon, which includes 12 clay tennis courts, locker room facility, and restrooms.

The millage rate for the City of Parkland was lowered slightly so our tax rate has decreased.

The City made improvements to the Equestrian Center facility.

Additional money has been allocated to the budget to hire 2 new Parkland police deputies.

The next strategic planning meeting, which will discuss priorities for the 20172018 budget year, is scheduled for March.

The Broward School Board Boundary Committee had a workshop meeting on January 24th to discuss the school boundary changes for the 2017-2018 school year. The next meeting will be in March.

The Parkland City Commissioners are doing everything they can to protect homeowners’ investments in their homes.

ParklandParrot.com

3

OUR CLIENTS SAY IT BEST Become One of Our Next Satisfied Customers Michael was enthusiastic about the entire process. He quickly recognized what our house had to offer and knew exactly how to sell its benefits and features. He walked us thru each step of the process making us very comfortable that our best interests were his priority. While we knew our house was a show-piece for our community, Michael made sure that message was clear in the photographs and video. We also would like to give a shout out to Sharon, the Office Manager, who was very helpful thru the process.

Thom

& Maria Champa

I contacted Michael to help me sell my home in the middle of the summer. He worked with me quickly to get the home ready and listed within a week. His entire team worked on the marketing and my home was under contract within days of listing. I have no doubt this happened so quickly and seamlessly because of Michael’s dedication to his client and exceptional work ethic. Perhaps most impressive was his integrity through every step of the process. I am extremely satisfied with the work of the entire Citron Real Estate Group.

Colleen Boyle

Stephanie was professional and exceeded my expectations in a Realtor. I highly recommend her to anyone who wants the home buying process to be stress-free. I never realized how much I needed a specific buyers’ agent until I tried to do this on my own. She was on my side and had my back, one less thing to worry about with all that goes on during this process. Not to mention, she got me into my dream home!

Nichole Kelly

Stephanie was a tremendous asset for us in every step of selling our house.

From the listing through the closing, Stephanie was extremely communicative and kept us informed throughout the process. We would enthusiastically work with the Citron Real Estate Group again in the future.

Kevin & Sarah Farrell

My wife and I have been buying and selling homes for over 25 years. Michael and his staff are the best Realtors we have dealt with. Michael offers a comprehensive marking strategy in selling and correctly positioning your home, as well as excellent feedback while your home is listed and regarding the interest in your home. Once an offer is extended, Michael helps in negotiating the best price and exhibits excellent skills in putting the deal together. The Citron Real Estate Group is a very professional, courteous and knowledgeable agency.

Joshua Paul

4

954.609.0591

Real Estate RESOLUTIONS For Homeowners Considering A Move In 2017

BUY & SELL EARLY IN 2017 According to Realtor.com, interest rates are likely to move up 1% in 2017 increasing a potential buyer’s mortgage payment by an additional 9%. Buy and sell now, as your home can still sell for a record price.

Then, you can still take advantage of lower interest rates on your next home before rates increase.

Sell With Confidence with the Citron Real Estate Group. Our average listings sell for 2-4% higher than the competition in Parkland. Our proven track record will also help you get the best deal on the home you buy with us.

DON’T LEAVE YOUR LARGEST FINANCIAL ASSET IN THE HANDS OF A PART-TIME, INEXPERIENCED OR DISCOUNT AGENT! Hire a local expert team that will give you the best advice throughout the entire buying & selling process. Anyone can pass a test to become a real estate agent, but not everyone has the expert knowledge to get your home sold for the highest possible price.

It doesn’t cost you any more to hire the best; it actually costs you more not to!

DO YOUR RESEARCH BEFORE HIRING AN AGENT Perception is not always reality. Check reviews and virtually interview agents online before hiring an agent. Work with people you know and trust in the business.

With a trusted name in the local community and with over 90+ reviews, Perception is Reality with the Citron Real Estate Group!

COMPARE THE RESULTS. NUMBERS DON’T LIE! When interviewing agents, request a list of homes that the agent has recently sold in your community. It is essential to hire an agent that is an expert and has a proven track record.

Also, ask for phone numbers of past clients in order to truly find out their experience.

The Citron Real Estate Group sold over 88 homes in 2016. Our team has closed more deals in Parkland in recent years than anyone else. We can do the same for you!

Visit MyParklandHomeValue.com

5

SQUAWK REPORT

4th Qtr.

Avg. Sales Price

2016

2016

2016

2016

$

$

$

$

184

$

$

Total Properties Sold

122

200

170

121

Avg. Days on Market

75

122

108

85

Avg. Sales Price/Sq. Ft.

$

187

189

194

$

SQUAWK TALK There are two major pieces of information that our team looks at in order to evaluate the performance of Parkland’s real estate market. The first is the average sales price and the second is the average list price. In 2016, both of these values skyrocketed compared to years in the past. In fact, the average list price went up 12% and the average sales price increased by 9%. This is huge for all Parkland homeowners. As a result, if you are thinking about making a move, NOW is the best time to capitalize on record sales prices and still low interest rates.

6

695,769

3rd Qtr.

$

694,523 $ 662,164

2nd Qtr.

$

1st Qtr.

HOME SALES

603,711

Avg. List Price

643,343

699,377 $ 666,672

SINGLE FAMILY

728,764

2016 Year End Report

954.609.0591

303,944

3rd Qtr.

4th Qtr.

Avg. Sales Price

2016

2016

2016

2016

Avg. Sales Price/Sq. Ft.

$

$

174

$

186

$

$

$

SALES

$

359,558 $ 346,909

2nd Qtr.

COACH HOME

$

1st Qtr.

VILLA AND

297,188

Avg. List Price

TOWNHOME

305,975

337,008 $ 326,699

328,834

Parkland Real Estate Market Activity

186

$

195

$

Total Properties Sold

16

14

10

10

Avg. Days on Market

88

91

82

62

SQUAWK TALK This market has continued to appreciate from the 1st quarter to the last quarter of 2016. In fact, the average price per square foot has increased by $21. Even with prices increasing, these types of homes are still the best deals for potential Parkland home buyers. We see this trend continuing in the 1st quarter of 2017.

ParklandParrot.com

7

DID YOU KNOW? The Citron Real Estate Group Does More Than Just Real Estate, We Also Provide Top-Notch

PROPERTY MANAGEMENT SERVICES. For 13 Years, The Citron Real Estate Group has helped many South Florida property owners manage their real estate with professional guidance in order to maximize the return on their investments.

OUR SERVICES INCLUDE: Competitive & Cost-Effective Fee Structure Verification of Tenants’ Employment & Rental History Screen All Applicants Including Credit and Criminal Background Checks Confirm Past Landlord References Search Eviction History For All Potential Tenants Interview And Ensure Best Tenants Prepare Formal Leases Handle Move-In/Out Inspections & Take Photos For Records Coordinate All Repairs & Contractors Recommend & Coordinate Attorneys For Eviction & Legal Services Full Time Staff Dedicated To Landlord & Tenant Inquires

EXPERIENCE THE DIFFERENCE! Specializing In Full-Service

954.609.0591 8

South Florida Property Management

ParklandParrot.com

ASK THE EXPERT Mortgage Q &A with Joe Palopoli HOW DOES A HIGHER INTEREST RATE REFLECT ON SALES PRICES? People looking to make a move should sell now while home prices are at record high numbers and then buy as interest rates are still at record low levels but most likely will increase.

I believe the real estate market in 2017 will be better than 2016. The Mortgage Brokers Association (MBA) projects purchase originations will be $1.1 Trillion in 2017, an 11% increase from 2016. So, therefore, I don’t see higher interest rates having any impact on the market. Interest rates are still at historically low levels. Although, they bottomed out around 3.50% for a 30 year fixed rate mortgage, today they are currently in the 4.25% range. So, the increase in rates will cost a buyer $4.29 more per $10,000 financed, so I don’t see rates having that much of an impact on a buyers purchasing power.

JOE PALOPOLI & HIS FAMILY Joe is a 14-year Parkland resident and has been a mortgage originator for over 20 years. Joe has funded over 6,000 loans for over $1.2 billion in volume.

WHY GET PRE-APPROVED BEFORE LOOKING AT HOMES TO BUY? A true Pre-Approval is just like a loan commitment if completed properly. As you know, a strong PreApproval letter or loan commitment could make the difference if the seller accepts or rejects an offer. An accurate Pre-Approval requires documentation such as tax returns (personal & business), W-2’s, paystubs, assets, existing mortgage statements and HOA coupons, tax and insurance bills on existing homes and of course a credit report. Also, an accurate Pre-Approval will determine if a borrower has had any recent foreclosures, short sales, deed in lieu’s or bankruptcies and this will require additional documentation. A Pre-Qualification is basically a conversation without verifying all of this information.

DO I NEED TO LIST AND SELL MY HOME FIRST BEFORE I BUY MY NEXT HOME? Completing an accurate Pre-Approval will determine if a borrower will need to sell their current home prior to closing on their new house. Other possibilities may be to rent it or sell at a later date.

Joseph Palopoli, Jr. Senior Loan Officer Cell: 954.849.3457 | Office: 561.455.0828 www.joepalopoli.supremelending.com

ParklandParrot.com

9

FEATURED LISTINGS 2017

HERON BAY

New on the Market !

BANYAN ISLES

12367 NW 80th Pl • Parkland, FL 33321 Popular Iris Model. 5 Beds, 4 Baths 2-Story Home With Upgrades Galore Including All New Baths, Kitchen With Bosch Stainless Steel Appliances, Fenced-In Yard, New Wrought Iron Staircase, Freshly Painted Interior & Exterior, Move-In Ready!

THE LANDINGS AT PARKLAND 6145 NW 99th Way • Parkland, FL 33076 Tropical Paradise Awaits You & Your Family!

Gorgeous & Remodeled 4 Beds, 3 Bath Pool Home On Oversized Lot With 3-Car Garage, Cul-De-Sac Street, Updated Kitchen, Wet Bar, Perfect Split Floor Plan With Attention To Detail!

Perfect Home For Entertaining! Won’t Last Long!

HERON BAY

TUSCANY

5745 NW 120th Ave • Coral Springs, FL 33321 Live The Heron Bay Lifestyle At An Affordable Price!

Spacious 3 Beds, 2.5 Bath Townhome With 2-Car Garage On Corner Lot, Interior Recently Painted & New Stainless Steel Appliances Just Installed, Newer A/C Unit, Accordion Shutters On The 2nd Floor, HOA Covers Roof And Exterior Of Property.

10

954.609.0591

OUR RECORD-BREAKING SALES IN 2016 HERON BAY OSPREY LAKE SOLD PRICE: $888,000 11635 NW 81st Place • Parkland, FL 33076 Bedrooms: 5 Bathrooms: 5 Full, 1 Half Square Footage: 4,240

HERON BAY THE VISTAS SOLD PRICE: $850,000 7785 NW 128th Avenue • Parkland, FL 33076 Bedrooms: 6 Bathrooms: 5 Square Footage: 4,501

PINE TREE ESTATES SOLD PRICE: $840,000 6924 NW 62nd Terrace • Parkland, FL 33067 Bedrooms: 4 Bathrooms: 4 Square Footage: 4,139

COUNTRY PLACE SOLD PRICE: $825,000 6631 NW 61st Avenue • Parkland, FL 33067 Bedrooms: 5 Bathrooms: 4 Square Footage: 3,891

CALL US TODAY, AND YOUR HOME COULD BE ONE OF OUR RECORD SALES IN 2017!

ParklandParrot.com

11

MICHAEL CITRON

Parkland Resident Real Estate Specialist

954.609.0591

PA R KC R E E K

VISIT

OR CALL US TODAY AT