Coconut Creek, FL

The good news is ... inventory levels in South Florida continue to decline from a high of 41,196 (October 2007) to 38,360 today (a decline of 6%). Also, we have gone from a 4+ year supply of homes to a 2 year supply of homes. These are all solid indications that we are approaching the bottom of the housing crisis.

Unfortunately the decline of inventory is not due to increased sales. The decline is because home owners are taking their homes off the market ... 26,641 listings have expired this year.

Additionally, the foreclosure rate continues to skyrocket ... 25% of all properties for sale in South Florida are either bank owned or in pre-foreclosure. The bank owned properties will continue to dominate pricing for 2 more years ... some segments locally have seen a 26 -- 29% drop THIS YEAR.

If you need to sell your home or know of someone that needs to sell their home, please call me immediately. I and my team have set lofty goals this year and we need YOUR help.

If you, or anyone you know, has ever thought about investing in real estate, this is the time!!!!

Regardless of when the market turns around, in 10 years you will look like a genius.

Oceanfront home? Investment Properties? Condos on the water? This is the time to buy.

WE can help you or recommend a top agent anywhere in the country.

Nicholas Goglucci, PA., CRS
Certified Residential Specialist
Certified Luxury Home Marketing Specialist
e-Pro Agent
Re/Max In Motion
Direct: 954-650-7800
Fax: 954-903-4348
www.GoglucciTeam.com

Coconut Creek Florida public hearing is Sept. 11, 2008 @ 7 PM....

Where are these fowl to live?

There will be a public hearing on rezoning the green space area located at the intersection of Lyons Road and Atlantic Boulevard tomorrow night September 11, 2008 at 7:00 PM.

It will be at the Coconut Creek Government Center located at 4800 W. Copans Road.

The residents in Coconut Creek love the 15 acres of wetland that currently exists on this corner. Lowe's and Kohls have petitioned the city to rezone this area and change the zoning to commercial thus eliminating a major piece of forest that helps keep our air clean. With more construction in the area (don't even get me started on the noise, length of time, dirt, air pollution (my car is always covered with a white dust in the morning even if I wash it the night before - black car, show's dirt immediately) as it is now. There is already a new Kohl's being built in Coral Springs and there are plenty of Lowe's in the area as well.

There is a community center close by and also schools. The volumes of traffic that this will probably generate is a safety hazzard to this particular location. The traffic is already heavy on Lyons Road and Atlantic. How can the "power's that be" in Coconut Creek think the current two laned Lyon's Road will be able to handle the traffic? It's bad enough that right now the traffic is often one lane under the Florida Turnpike crossover as the construction (work on the turnpike) has been on and off there for atleast 2 years.

The exact location of this GREEN SPACE is the area is on Atlantic Boulevard in the area from Lyons Road and Banks Road.

For more information go to www.coconutcreekfl.org.

http://www.KarenMonsour.com, 954-4464-4194

(Copyright © 2008 By Karen L. Monsour All Rights Reserved.)

We know that Short Sales aren't an easy task to accomplish. Yet, in the end when you make it to the closing as I did did yesterday and you hear the joy and relief from your Sellers, there really is nothing like it. Especially when they send you a testimonial expressing their gratitude and you're moved to tears. I was blessed by my experience.

The approval from Wells Fargo took about 78 days to receive with a 1st and 2nd mortgage on the home. This wasn't necessarily a typical Short Sale as these Sellers at the onset weren't late on their payments. The Short Sale package had been submitted with typical beginning delays until a negotiator was assigned. Once assigned, communication was regular with me knowing that constant follow up was necessary. No, they didn't always answer my call or my email the first time, however, they would soon reply when they had an update. Their responses were professional and courteous as I treated them the same. I look forward to continuing negotiations on other short sales that I have with Wells Fargo.

• The home was Listed for $288,000.
• The offer accepted was for $270,100
• The BPO was for $285,000.
• Net to 1st was $245,032.80.
• A pretty typicall net to Lenders of over 85% of BPO value.

• The only snag at the end was when the Florida Dept of Revenue enforced their current decisions on collecting documentary stamps on the Mortgage Balance. I tried to go back to the Lender to pay the difference, yet they wouldn't budge and the Seller had to come to closing paying just over $100; could have been worse.

So who keeps saying that Short Sales aren't good and that Buyers should stay away from them? As long as you maintain constant communication with the Buyer's Agent letting them know what is happening along the way and they relay it to the Buyer, nobody is in the dark and they feel that they're part of the process. You have a Seller who STOPPED FORECLOSURE, a Buyer who purchased a HOME ON SALE (below market value) Realtors who earned a living and felt real good about how they helped people in need. WHAT IS WRONG WITH ANY OF THIS? ABSOLUTELY NOTHING! It's a Great Day in South Florida and I feel good!

The more you know, the better prepared, the better the outcome. Got something that you'd like addressed, let me know.

I serve Coral Springs and the surrounding cities such as Coconut Creek, Parkland and Sunrise in Broward, Dade and Palm Beach County of South Florida as your dedicated Realtor ready to work for you. Looking forward to hearing from you soon. Call me at 954-464-1100 or email me at: lynnp@ImagineYourHouse.com

The National Association of Realtors has agreed to change its policies on Internet home-sale listings to settle a long legal battle with federal regulators who have accused the group of anti-competitive behavior that harms consumers.

The settlement, which awaits court approval, would resolve a 2005 Justice Department lawsuit that accused the association of undermining newer, lower-priced rivals by hampering their ability to post home-sale listings online. The Realtors association, which did not admit liability or wrongdoing and faces no fines, agreed not to treat Internet-based brokerages differently than traditional ones.

says the Washington Post May 28, 2008

It's a win for consumers because it's going to eliminate impediments to competition caused by the policies [the Realtors group] had in place, which we were ready to prove would have locked in an outmoded way of doing business," said Deborah A. Garza, deputy assistant attorney general in the Justice Department's antitrust division.

Mike Cowie, an antitrust lawyer at the firm Howrey who was not involved in the case, said the settlement probably will not force commissions down immediately, "but it should contribute to downward price pressures on commissions."

Really, how many listings are on the MLS in any one community? It is mind blowing to conceive the amount of condos and single family homes currently on the market.

The Department of Justice seems convinced that the settlement between the National Association of Realtors would help consumers sell their homes quicker and with a savings of commissions.

Consumers know better than that. If it were that easy just to put a property on the MLS and sell that property without the expertise and marketing ability of a listing agent, then strike one up for our Juctice Department.

Maybe the Justice Department should sell real estate now. It seems they know real estate better than the National Association of Realtors.

Frankly, real estate as we know it has change, not for the consumer. Real estate has now understood the need for competent real estate brokerages and listing agents who know marketing like never before.

Realtors are now needed more than ever because the need for consumers to sell the property has never been greater.

Never before in the history of the MLS has more listings been available and listings staying on the market is at an all time high.

Consumers now understand the need for an expert who reall y does sell real estate.

Call your local expert, you will be delighted to know that more sales in real estate have been through Realtors and not through For Sale By Owners.

If you want to sell your property for the highest price and in the least amount of time, with the least amount of hassle call a realtor who is experienced in your community.

For expert advice and expert service please call Nicholas Goglucci, PA. 954-650-7800

Nicholas Goglucci,PA.

Re/Max In Motion

954-650-7800

www.GoglucciTeam.com

New Law Which Gives A Condominium Owner The Right To Avoid A New Restriction In Renting In Florida

Recently, I was called by a condominium owner who purchased a condo with the purpose of renting the unit, without ever having the intention of living in the unit whatsoever. After purchasing the unit, and subsequently, renting the unit to a long term renter, the condo board decided to put up a vote to stop owners form renting their units. The vote was casts, and majority rules, renting was now abolished in the condominium sub-division, and added to the condominium documents.

Letters went to to all residents and owners, there will be no more renting as of this date. All leases will be honored until the 12 month lease terminates. Therefore, any owner who does not plan on moving back into the unit, must therefore sell the unit immediately.

Hence, the phone call and I was asked by this owner, what my professional opinion on this matter. I told the owner I was not an attorney, but I did cite a statue from the Florida Supreme Court ruling.

In the case of Woodside Village Condominium Association Vs. Jahren, the Florida Supreme Court ruled that a condominium's governing documents may be amended to restrict an owner's right to rent their unit. The investor-defendants argued that they relied on the documents, when they purchased the unit, which at the time allowed them unrestricted rentals. The courts specifically held that a buyer, when purchasing a condominium, must agree to the possibility that the documents may be amended.

In response to the ruling by the Supreme Court, The Florida Legislature passed, In July of 2004, a new law which gives a condominium owner the right to avoid a NEW restriction in the renting of their apartment if they voted against it, thereby keeping in tact the rules in existence when they purchsed the unit.

Owners of rental units, who voted no against changing the condo rules are thereby allowed to keep renting their units without fear of the condominium board. The board has no right, according to this law, to force owners to sell their units because of the rule change.

But, when and if they do sell their units, the next buyer who purchases the unit cannot rent the unit and must agree to follow all amended rule changes.

Just another reason to call a professional realtor. For more information, please don't hesitate to call.

Nicholas Goglucci, PA.

Re/max In Motion

954-650-7800