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By Jon Klein
 Going green is not just a new trend; it is a way of life that benefits not only the environment, but also your health — and your pocketbook.
Green living cuts down on carbon emissions and creates a healthier environment both inside and outside of a home. While green structures sometimes cost more initially, the money (and environment) saved in the long run is well worth the investment.
Health Benefits
Owning a green Parkland home has significant health benefits. Many conventional buildings are not properly ventilated and indoor air quality is often more polluted than the air outside.
Poor air quality is bad for your health and can aggravate asthma and allergies. Certified green properties tend to have excellent airflow and ventilation. They also use toxin-free materials in building and tend to have fewer problems with mold and mildew.
Environmental Benefits
Homes are responsible for a significant portion of the carbon emissions on earth. A green home has a smaller carbon footprint since it is built with better insulation and fitted with energy-efficient appliances.
Green structures are built from sustainable or recycled materials that are meant to lower the impact on the environment. Proper green buildings also take advantage of natural lighting and airflow to reduce the use of electricity to light and to help warm and cool their interiors.
Financial Benefits
Green buildings are constructed to use less energy, which means you should pay less in energy costs. Ventilation systems in green structures are better insulated to reduce air leakage.
Builders also install fixtures that conserve water and are energy efficient. The initial cost might be slightly higher, but the monthly bills can be cut almost in half in many cases.
There are even more financial, environmental and health benefits to owning a green property. Living in a green home can allow you to save yourself money and help the earth, all while living in a healthy environment.
If you’re looking to purchase a new house, consider a green property. If you have any questions on current green properties available in the local market, please call your trusted real estate professional right away.
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By Jon Klein
 Everyone knows that first impressions are important. By carefully staging your home, you can positively influence the feelings your potential buyers have when they are viewing your property.
Staging is the art of decorating and arranging the spaces within your house to make it more appealing to buyers. If you can adapt the rooms to create an attractive and welcoming zone that home buyers can see themselves in, they will be more likely to buy your property.
One of the most important rooms to stage is the family room, because it is such a central part of the house. This is where a lot of the social activity occurs, so it should appear comfortable and welcoming.
Here are some tips to keep in mind when staging your family room before the next showing of your home:
- Clear out the clutter. The most important step is to de-clutter, because a mess will turn off potential buyers. Clear away any papers, toys and other items to make your family room as clean and minimalist as possible.
- Go zen. The main purpose of a family room is for relaxation, so make the space look as comfortable as possible. Try a soft throw on the sofa, plush cushions and a big chair that is just begging you to come curl up with a book.
- Strategically place furniture. Arrange the family room furniture to create areas of conversation, such as two sofas facing each other with a low coffee table in the middle.
- Depersonalize. Remove your personal items. If you have too many family photos and personal effects in the room, it can make it difficult for your potential buyers to imagine their own family living there.
- Remove the bulk. If your family room feels small, you can remove some of the furniture to give it the illusion of being bigger.
- Channel your green thumb. You might want to consider bringing in some plants to make the space feel fresh.
- Brighten it up. If your family room has dark corners, invest in upright lamps that will help illuminate the space and provide an aura of intimacy.
With these seven tips, the family room in your Parkland home will be much more appealing to potential buyers.
If you are ready to get your home sold, call your trusted real estate agent for a personal consultation to get the best return on your real estate investment.
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By Jon Klein
When deciding to sell a piece of Parkland real estate, there are certain things you must disclose about the property to the buyer before the sale can go through.
Disclosure laws are put in place to protect the buyer from unknowingly purchasing defective property. Not disclosing certain information about the property can jeopardize the sale, or worse, invite a lawsuit.
This has become more of an issue lately as some sellers are tempted to gloss over deficiencies in the home they are selling in order to try to get a higher sales price. In fact, a recent poll of real estate agents showed that 75% of agents ranked non-disclosure among the “top three current and future issues.”
What You May Need To Disclose
The main items that need to be disclosed are any defects with the home. This includes, but is not limited to, plumbing problems, water leaks, cracks in the foundation, insect infestations and toxic materials in the home — such as defective drywall, lead, asbestos, carbon monoxide or mold.
Be sure to fully disclose anything that may be pertinent to the buyer before purchase. Some disclosure laws include reporting issues with neighbors and whether the home has a criminal or notorious past.
If you are unsure about some information regarding your real estate, one option would be to state that you do not know that specific information. Remember though, if you knowingly withhold information, it may cause the sale to fall through or could be used against you in a lawsuit.
Does It Make Sense To Have A Pre-Inspection Done?
Sellers can also have their home inspected prior to placing the property on the market to prevent any surprises of unknown problems with the home. This way, defects can be fixed before listing the property, and the disclosure form can state the problem has been fixed. Buyers will almost surely want an inspection prior to closing, and a pre-inspection may suffice.
Disclosing information does not mean the seller needs to fix the problem. Any disclosed problems with the real estate can become a negotiation point. Remember, the most important thing is to be honest about any known issues with the property.
Real estate disclosure laws may be different depending on the state in which you live. The best way to know what you need to disclose in your area is to check with your trusted real estate agent or property attorney and discuss any potential property issues with them before you fill out the seller disclosure form.
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By Jon Klein
 Mortgage rates rose last week with average rates for a 30-year fixed rate mortgage rising from last week’s 3.35 percent to 3.42 percent with buyers paying all closing costs and 0.7 percent in discount points.
Average rates for a 15-year, fixed-rate mortgage rose from 2.56 percent to 2.61 percent with buyers paying their closing costs and 0.7 percent in discount points.
Freddie Mac also reports that average mortgage rates for a 5/1 adjustable rate mortgage rose from 2.56 percent last week to 2.58 percent with buyers paying their closing costs and 0.5 percent in discount points.
Summary from last week’s economic news about mortgage rates
Monday: In spite of improving economic conditions, a majority of participants in the Senior Loan Officer Opinion Survey on Bank Lending Practices indicated that their lending institutions would not be relaxing residential mortgage lending standards. Lenders perceive a significant risk in terms of being required to absorb losses incurred on defaulted mortgage loans.
Mortgage owners including Fannie Mae and Freddie Mac, along with mortgage insurance companies can require mortgage lenders to buy back defaulted loans or make them whole for losses related to foreclosed and otherwise defaulted mortgage loans.
Tuesday: CoreLogic reported an increase of 1.9 percent in national home prices for March. This news represents the 13th consecutive increase and a year-over-year increase of 10.5 percent.
Home prices were boosted by strong increases in the West; Nevada posted a 22.2 percent gain from last March and California posted a 17.2 percent year-over-year gain.
CoreLogic predicted a year-over-year increase of 9.6 percent for home prices for April, with a monthly increase of 1.3 percent increase expected between March and April.
Thursday: Weekly jobless claims brought good news as they came in at 323,000; this was lower than expectations of 335,000 new jobless claims and the 327,000 new jobless claims reported in the prior week.
Friday: The Treasury Department reported that the federal budget has a surplus of + $113 billion for April. This was $54 billion higher than for April 2012 and the highest monthly surplus since April, 2008.
Increasing home values and federal budget surpluses, along with falling consumer debt pointed the way toward overall as well as personal economic recovery last week.
Looking Ahead
This week brings a couple of important economic reports affecting the real estate industry including the Home Builders Index on Wednesday and the Weekly Jobless Claims and Housing Starts numbers released on Thursday.
The Consumer Sentiment and Leading Indicators reports will round out the week on Friday. Consumer Sentiment is important in terms of housing markets and mortgage lending; consumers typically don’t buy homes or move up to a larger home if they aren’t feeling secure about economic conditions.
This week’s economic data may provide further evidence of a stronger U.S. economy as well as a snapshot of retail spending and consumer costs.
Mortgage Rates Updates
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By Jon Klein
 RealtyTrac recently reported that national foreclosure filings are down while foreclosure filings are seeing marked increases in some states.
There are two systems for foreclosing residential real estate in the United States; judicial and non-judicial foreclosure. The states individually decide which foreclosure process will be followed in their state.
Click Here To Download An Overview Of The Foreclosure Process
Judicial foreclosure requires action by the courts because the mortgage is not written including a “power of sale clause”. Judicial foreclosure proceedings generally take longer than non-judicial processes due to this court involvement.
A log-jam of delayed judicial foreclosures are beginning to move through backlogged courts with the result of higher numbers of foreclosures started, foreclosure auctions scheduled, and properties either sold to third parties at foreclosure auctions or repossessed by mortgage lenders.
In states allowing non-judicial foreclosure, the matter may be handled outside of the judicial system as the mortgage is written with the power of sale clause which allows the lender to take control of the mortgaged property to satisfy the outstanding lien.
Here are highlights of April’s foreclosure report:
Nationally, 144,790 foreclosure filings were made in April, a decrease of 5 percent compared to March and representing an annual decrease of 23 percent year-over-year.
Overall, April’s residential foreclosure activity was at its lowest since February 2007. About one of every 905 U.S. housing units had a foreclosure filing during April.
Due to the aforementioned backlog of judicial foreclosures, scheduled foreclosure auctions hit a 30-month high in April rising by 22 percent between March and April.
Some states had markedly higher rates of foreclosure sales scheduled in April 2013 as compared to April 2012. Examples include Maryland (+199 percent), New Jersey (+91 percent), Ohio (+73 percent), Oklahoma (+57 percent), and Florida (+55 percent)
Foreclosure auctions scheduled in non-judicial states were 7 percent lower in April as compared to March, and were an encouraging 43 percent lower in April 2013 as compared to April 2012; this was the lowest reading for non-judicial foreclosure sales scheduled since December of 2005.
Non-judicial foreclosure sales were impacted in some states as the result of legislation affecting foreclosure procedures. Affected states included Arkansas, California, Nevada, Oregon and Washington.
70,133 U.S. homes went into foreclosure in April 2013, which is 40 percent lower than for March 2013 and 28 percent lower than during April 2012.
With home values increasing and large numbers of delayed foreclosures clearing the books, this data offers further evidence that the U.S. real estate market is steadily improving. As more foreclosures are removed from the housing inventory, home prices should continue to stabilize and increase in the Parkland area.
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By Jon Klein
 Whether you’re looking to buy a new house this month or do a little remodeling, take advantage of the opportunity to give the mom in your life a present she’ll appreciate every day.
Below are a few ideas for housing priorities and renovation projects that typically rate high on women’s wish lists for their homes.
Open Living Areas
The open floor plan is usually a big plus for any mother. They want to be able to cook dinner in the kitchen while monitoring their children’s schoolwork at the dining table.
So look for a house that affords this visual luxury or consider the generous gift of getting dirty and knocking down some walls.
Large Closets
What woman doesn’t need more room for her clothes, shoes and purses? If you’re looking at houses, keep in mind how much closet space will work for your wife or mother.
If it’s not enough, see if there’s another area you could convert to create a custom closet. Another great gift would be to upgrade your mom’s closet with a new shelving and organizing storage system.
And great storage doesn’t stop in the bedroom. Most women like to keep the family’s things organized and put away, so think about upgrading some of the other cupboards and closets in the home as well.
Low-Maintenance Living
Some women are expert gardeners or love home-improvement projects; however, many just want to leave those tasks to someone else.
Many moms love easy-to-wipe-down granite counters and hardwood floors. These can be beautiful and functional home upgrades all at the same time.
And especially if you’re shopping real estate for your mother, consider looking at Parkland homes that are new construction, have easy-to-care-for landscaping and maintenance-free siding, stucco, or brick.
Easy-to-Use Security System
While security is important to everyone, it ranks high on most women’s list of priorities. As a Mother’s Day gift, research providers and have a security system installed.
Whether your mother is living alone or your wife is worried about the family’s safety, this practical present will give everyone peace of mind.
Make a big gesture this Mother’s Day by giving the woman in your life that renovation project she’s been pining over.
And, if looking at buying a new home, keep in mind what’s important to Mom.
Finally, if you’d like more tips on Mother’s Day home shopping or upgrades, call your favorite real estate professional for the best advice.
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By Jon Klein
 In almost every Parkland home, there are awkward spaces that are difficult to utilize.
So before you try to cover up or fill the spaces with junk, take a look at the smart solutions below to see how you can revitalize those problematic spaces and turn them into something useful.
The Space Under The Stairs
While this is likely to be more of a hiding spot for dust-bunnies than teenage wizards, it is valuable space that you don’t have to board up. Use it for storage!
Create custom storage cabinets, or if it’s near the kitchen, build in a wine refrigerator or display shelves for china.
You could also build in a coat or shoe closet if the stairs are in the front entryway.
The Bedroom Too Small For A Bed
You might have an office that sometimes needs to be used as a bedroom or a bedroom that could fit a bed and nothing else.
If these issues strike a chord, then you might want to invest in a Murphy bed.
These space-saving inventions allow you to use a small space for another purpose during the day, and then miraculously have a place to sleep at night.
The Unused Closet
In some homes, you’ll run across closets that just don’t make sense. If you don’t need it for storage, then turn it into something creative, such as a small library or toy room.
Take off the door, add adjustable shelves, build a comfortable cushioned bench and install attractive lighting. Now you and your family can curl up for story time in your new book nook.
Or put in a desk or countertop, an office chair and table lamp and use it as an office nook that can be closed off when you’re not using it.
Don’t write off awkward spaces in your home as lost causes. With a little ingenuity, hard work and smart design, you can create a useful area that everyone in your family can use and enjoy.
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By Jon Klein
 When it comes to selling your home in Parkland , you’ve probably thought of the most common staging tricks, such as clearing out the clutter to make your rooms look bigger and bringing in more light to brighten things up.
However, have you considered that the colors in your house might affect whether buyers are interested?
First impressions are everything when you are selling a house, so think about how the colors you choose will likely influence your potential buyers. A new coat of paint could be a simple and effective way to make your house more appealing.
Here are a few tips:
Choose Mellow, Neutral Shades
When a potential buyer is looking at your house, they want to be able to imagine themselves living there. If your walls are painted in lime green or hot pink, it can be difficult for a buyer to relate the house to their own tastes.
Instead, use neutral colors, such as cream, olive, beige and ivory. Then the walls become a blank canvas where prospective buyers can project their own style preferences.
Create the Illusion of Space
In order to make a space within your home feel larger, you can use a very light neutral color such as white, tan or pale grey. This will reflect more light and give the impression of a more expansive interior.
You can also try painting the moldings the same color as the walls, which will make the ceilings look higher.
Don‘t Forget About Exterior Color
It’s easy to focus on the interior of a house and forget about the outside, but the front of the house is the first thing potential buyers will see. Curb appeal can be a huge factor in their decision.
Color has a psychological effect on people, whether they are aware of it or not. You’ll be amazed at the difference the right colors can make in selling or improving your home.
If you would like more home staging and selling tips, please contact your trusted real estate professional today!
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By Jon Klein
 Housing markets continue to improve according to the S&P Case Shiller Home Price Indices released April 30 for February’s data.
The Indices consist of a 10-City Composite Index and a 20-City Composite Index with housing markets for each city reported based on a three-month rolling average of home prices.
Case Shiller Posts Highest Growth Rates Since 2006
The data released yesterday comprised the Indices’ highest growth rates since May 2006.
For the 12 months between February 2012 and February 2013, the 10-City Composite Index reports that average home prices posted a gain of 8.6 percent and average home prices for the 20-City Composite Index grew by 9.3 percent on a non-seasonally adjusted basis.
All 20 cities posted a year-over-year gain for at least two consecutive months.
The 10-City Composite Index grew by 0.4 percent between January and February, while the 20-City Composite Index grew by 0.3 percent for the same time period.
16 of the 20 cities reported rising annual growth rates for home sales between January and February 2013, while four cities including Detroit, Miami, Minneapolis and Phoenix saw decreases between -0.1 and -0.4 percent in annual home prices between January and February 2013 readings.
Longer-term readings provide a more positive light, as with the example for Phoenix, Arizona.
The month-to-month reading of annual home prices indicated a decrease, but the reading for Phoenix year over year indicates a + 23.0 percent increase in average home prices.
Ten Metro Areas Gain Double Digits Over Past Year
10 cities posted double-digit year-over-year growth rates; they include Atlanta, Detroit, Las Vegas, Los Angeles, Miami, Minneapolis, Phoenix, San Diego, San Francisco and Tampa.
San Diego and Tampa have joined the double-digit cities in February with average home prices increasing for each city of just over 10 percent.
Phoenix, San Francisco, Las Vegas and Atlanta posted the highest year-over-year gains in average home prices.
Three older cities, New York, Boston and Chicago posted the lowest year-over-year rates in average home price readings.
Atlanta and Dallas achieved the highest annual growth rates since the inception of the 10-City Composite (1991) and the 20-City Composite (2001).
Improving Housing Markets Seen As Beacon Of Economic Recovery
Improving housing markets are considered a leading indicator of overall economic recovery as home ownership typically increases wealth and leads to more spending.
Economists note that while current news for housing markets is good, average home prices remain at 2003 levels, which can be very good for new home buyers.
Shortages of available homes in some areas and news that apartment construction is increasing can impact availability and ultimately, the sale of single-family homes.
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By Jon Klein
The latest Foreclosure Inventory Analysis showed nearly 1.5 million properties were currently in the foreclosure process or being held by banks as Real Estate Owned.
This was up 9 percent from the first quarter of 2012, but down significantly from the apex of foreclosure activity — 2.2 million units — in December 2010.
What Is a Distressed Property?
“Distressed property” is a blanket term for homes in foreclosure, short sale or that are REO (Real Estate Owned).
Below are definitions of different types of distressed real estate, so that you can be familiar with the terms.
- Foreclosure: When a homeowner has defaulted on their mortgage for a specified period of time, the bank takes possession of the real estate.
- Short Sale: A homeowner facing foreclosure may request a short sale from their lender to sell the property for less than what is owed.
- REO: Real Estate Owned properties have gone through foreclosure and are held by the bank. This increases the possibility of purchasing these homes at a discount because maintaining an REO is costly for a lender.
All three scenarios offer opportunities for substantial savings, yet all include stipulations with regard to the contract and terms of purchase.
Special Requirements With Distressed Property Purchases
When you buy this type of property, you are dealing with a financial institution instead of a private seller, so it may take more time to get to the closing table.
Be prepared for a longer than normal communication cycle as there are often delays when working with the bank or mortgage lender to come to a decision on an acceptable offer and closing date.
Unfortunately, many distressed properties have more deferred maintenance and repair issues
If you are willing to take the chance and be patient, a distressed property could pay off in terms of a lower purchase price.
Additionally, most buyers of distressed properties see an increase in the value of their Parkland and Coral Springs real estate within a short time of purchase.
In the end, it is strongly advised that buyers work with an experienced property expert when interested in distressed properties because of the additional paperwork and requirements to complete the transaction.
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