BLOG POSTS by Susan J Penn PA, Realtor
Welcome to Weston, FL: A Vibrant and Thriving Community
Weston, Florida - The city of Weston, Florida , our tropical paradise, is a beautiful neighborly master planned city with a big family feeling and large parental involvement. Weston, FL known for its warm climate encompasses 1,877 acres of maintained lakes, canals and 2,200 acres of wetland mitigation offering many of its single family homes fabulous lakeviews.
Located in West Broward County, Florida, Weston, FL is a highly sought-after neighborhood known for its picturesque landscapes, family-friendly environment, and exceptional quality of life. Whether you're seeking a serene suburban atmosphere or access to world-class amenities, Weston has it all. Let's explore the lifestyle and market trends that make this community so appealing.
Lifestyle in Weston:
Education: Weston boasts multiple top-rated schools, including public, private, and charter institutions. Families can choose from a range of educational options, ensuring their children receive quality education. Weston, FL is known for its excellent education system, with a variety of highly rated schools. Here are some of the notable schools in Weston, FL.
Cypress Bay High School:
Cypress Bay High School is a top-rated public high school in Weston for grades 9-12. It offers a comprehensive curriculum, advanced placement courses, and a wide range of extracurricular activities. The school has consistently achieved high academic standards and is known for its dedicated faculty.
Falcon Cove Middle School:
Falcon Cove Middle School for 6-8th grades, is a highly regarded public middle school in Weston. It provides a challenging academic program along with various elective courses and extracurricular activities. The school emphasizes a supportive learning environment and encourages students' personal and intellectual growth.
Manatee Bay Elementary School:
Manatee Bay Elementary School offers grades K-5, is an exemplary public elementary school in Weston, FL. It presents a nurturing learning environment, dedicated teachers, and a strong emphasis on academic achievement. The school provides a comprehensive curriculum and encourages parental involvement in the education process.
Everglades Elementary School:
Everglades Elementary School, for grades K-5 is another highly rated public elementary school in Weston, FL. It focuses on academic excellence, character development, and fostering a love for learning. The school offers a range of educational programs and extracurricular activities to enrich students' educational experiences.
Imagine Charter School at Weston:
Imagine Charter School, a Broward County public school for grades K-8 is a well-regarded charter school in Weston, FL It offers a unique educational approach with an emphasis on personalized learning and character development. The school provides a supportive and engaging environment to help students reach their full potential.
Recreation and Nature:
Weston, FL offers an abundance of public parks, nature trails, and outdoor recreational areas. Residents can enjoy activities such as hiking, biking, golfing, and boating in the beautiful surroundings.
Weston Regional Park
Weston Regional Park is a spacious and well-maintained park offering a range of amenities. It features walking paths, playgrounds, sports fields, picnic areas, and a large lake where visitors can fish or enjoy a peaceful stroll along the water.
Markham Park and Target Range
Markham Park and Target Range is located just outside of Weston, FL. Markham Park is a popular destination for outdoor enthusiasts. The park spans over 650 acres and offers nature trails, bike paths, a disc golf course, camping areas, and a shooting range for archery and firearms.
Peace Mound Park
Peace Mound Park is a serene green space in Weston, perfect for relaxation and nature appreciation. The park features walking paths surrounded by lush greenery, beautiful landscaping, and a peaceful ambiance.
Indian Trace Park
Indian Trace Park is a charming neighborhood park with a tranquil atmosphere. It offers playgrounds, picnic areas, sports fields, and a walking trail that winds through the park's natural surroundings.
Tequesta Trace Park
Tequesta Trace Park is a community park in Weston that offers various recreational amenities. It includes sports fields, a skate park, tennis and basketball courts, a fitness trail, and a scenic lake with a boardwalk.
Weston Hills Country Club
The Weston Hills Country Club features two championship golf courses known for their stunning landscapes and challenging layouts. Golf enthusiasts can enjoy a round of golf while soaking in the scenic views of the meticulously maintained fairways and greens.
Cultural Scene: Weston, FL hosts various community events and cultural festivals throughout the year, providing opportunities to celebrate diversity and connect with neighbors. You will discover outdoor concerts, art fairs, and cultural celebrations, movies-in-the-park and more such as 4th of July celebrations, Easter Egg Hunts, Rock Banks performing in the Park, Art Shows, and more.
Shopping and Dining: The neighborhood features premier shopping centers like Weston Town Center in the Heart of Weston and the Shops at Pembroke Gardens, nearby in Pembroke Pines, FL or the Sawgrass Mall in Sunrise, the largest outlet shopping destination in the U.S is close to Weston. Weston, FL Residents can explore a wide range of dining options, from casual eateries to fine dining establishments.
Bocas House - Latin Contemporary Food
Carrot Express - healthy dishes but with a lot of taste!
Ceviche Arigato Restaurant - Japanese & Peruvian fare
DelVecchio’s Pizzeria - Offers great pizzas, pastas, and homemade Italian dishes.
Duffy’s Sports Grill - Sports restaurant with burgers to mac and cheese.
Graziano’s - offers contemporary Argentinean food in Weston
India House - brings the flavors of India to Weston.
Japan Inn - Hibachi Steak and Seafood cooked at your table.
Moon Thai & Japanese - offers sushi rolls, sashimi, curries, stir-fries
My Big Fat Greek Restaurant - offers traditional Greek dishes.
Tarantella Ristorante & Pizzeria - serves delicious Italian dishes
Weston Bistro - offers a diverse menu of American cuisine with a modern twist
Vignetos Italian Grill - a family-owned restaurant serving Italian classics
Wellness and Health: Weston, FL is home to top-notch healthcare facilities, including Cleveland Clinic Florida, providing residents with exceptional medical services and wellness programs. Cleveland Clinic Florida, Weston, is equipped with state-of-the-art medical equipment and cutting-edge technology. Cleveland Clinic Weston FL offers a broad spectrum of medical specialties, including cardiology, neurology, orthopedics, gastroenterology, oncology, urology, and many others. It is committed to delivering world-class healthcare services, advancing medical research, and providing the highest quality of care to its patients in Weston, FL and the surrounding communities.
Market Trends in Weston: Susan J Penn PA is a trusted eperienced local Realtor that writes monthly market trends on the city of Weston, FL. Please sign up for her website to enjoy the reports.
Real Estate Market: Weston, FL offers an array of fabulous housing options, including single-family homes, lake-view homes, golf course homes, Modern and Mediterranean style homes, townhouses, condos and luxury properties. The market has shown steady appreciation over the years, making it an attractive investment opportunity.
Housing Affordability: While Weston, FL is known for its upscale residences, there are diverse housing options available to suit different budgets and lifestyles. Potential buyers can find properties at varying price points.
Community Development: Weston, FL prioritizes a master planned development and meticulous landscaping, resulting in a visually appealing and well-maintained environment that enhances property values.
Low Crime Rates: Weston consistently maintains low crime rates, providing a safe and secure living environment for residents of all ages.
Strong Economy: Weston benefits from a robust local economy, driven by diverse industries and a thriving business community. This stability contributes to the overall strength of the real estate market.
(6) Best Weston, FL Neighborhoods to Live in
Weston, FL is known for its family-friendly environment and vibrant neighborhoods. Here are six fun neighborhoods in Weston that offer a range of amenities and activities:
Weston Hills:
Weston Hills is a prestigious gated community known for its upscale homes and beautiful landscaping. It features two championship golf courses, parks, and recreational facilities. Residents can enjoy golfing, tennis, swimming, and walking or biking along the scenic paths.
Savanna:
Savanna is a master-planned community with a variety of amenities and recreational spaces. It offers a clubhouse, swimming pools, water slides, sports courts, and playgrounds. The neighborhood hosts events and activities throughout the year, making it an engaging place for families.
Isles at Weston:
Isles at Weston is a picturesque neighborhood featuring Mediterranean-style homes and lush landscaping. It offers a clubhouse, fitness center, swimming pool, and walking paths. Residents can also enjoy kayaking or paddleboarding on the neighborhood's lake.
The Ridges:
The Ridges is a family-friendly community with an emphasis on outdoor activities. It offers numerous parks, playgrounds, sports fields, and scenic walking trails. Residents can enjoy picnics, bike rides, and community events in this welcoming neighborhood.
Emerald Estates:
Emerald Estates is a charming neighborhood known for its tree-lined streets and well-maintained homes. It offers a clubhouse, swimming pool, tennis courts, and a playground. Residents can also explore the nearby regional park and nature trails for outdoor recreation.
Windmill Ranch Estates:
Windmill Ranch Estates is an exclusive gated community with large estate homes on expansive lots. It offers a tranquil and private setting with equestrian trails, lakes, and parks. Residents can enjoy horseback riding, jogging, or simply savoring the natural beauty of the neighborhood.
Jan. 2, 2022
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Hi! Happy New Year!
Real Estate for 2021 in South Florida was anything but normal. Due to the limited amount of supply and increased housing demand from out of state buyers, most properties lasted a brief time span on the market. This is actually a more prevalent time when you need to work with an experienced Realtor. Pricing increased at a minimum of 14% in Broward County's median sale priced homes ( $485,000). Bidding wars became standard with over the price offers. Facetime buying set off the new way to purchase a home. Florida is one of the few states without a state income tax, and has beautiful sunny weather. The housing supply has not been replenished leaving us in December with little inventory to offer as there is currently only a one months supply.
We now have the omicron variant in Covid. Due to increased vaccinations, masks, Covid kits, hand sanitizer, paper booties and Lysol's return to the store shelves, Sellers are not as overcome about having Buyers in their homes. We should be seeing more homes returning to the market this 2022 Spring season.
In 2021, Surfside Florida's beachfront Champlain Towers condominium collapsed with 98 deaths. This horrible event will now be changing the path on older condominiums and the way mortgages will handle older complexes. February 28, 2022 is the date The Federal Home Loan Mortgage Corporation will enforce stricter requirements. This tragic event is now asking Condominiums to look at their budgets and have a basic 10% reserve requirement. Mortgage lenders will be reviewing pending repairs.
Mortgage rates are still very low (3.1%) which helps consumer spending. The Federal Government was ready to raise the rates until this new Covid variant began to emerge. Housing analysts are predicting rates will be rising in 2022.
Market Report for Broward County and Miami-Dade County Nov 2021
Broward November 2021 Total Active Listings Decreased 50.1%
Broward November 2021 Total Homes Sales Increased 0.9 %
Broward November 2021 Single Family Homes Sales November Decreased 6.2%
Broward November 2021 Single Family Homes Dollar Volume Increased 18.2%
Broward November 2021 Condo/Townhome Dollar Volume Increased 16.2%
Broward November 2021 Condo/Townhome Transactions Increased 7.8%
Broward November 2021 Condos/Townhomes 1.8 Months of Inventory Supply
Broward November 2021 - Single Family 1.3 Months of Inventory Supply
Broward November 2021 - Short Sales and REO's Closed Sales - 0.7%
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Miami-Dade November 2021 Total Active Listings Decreased 43.6%
Miami-Dade November 2021 Total Homes Sales Increased 22.9 %
Miami-Dade November 2021 Single Family Home Sales November 2021 Increased 1.2%
Miami-Dade November 2021 Condo/Townhomes Transactions Increased 42%
Miami-Dade November 2021 Condos/Townhomes 3.7 Months of Inventory Supply
Miami-Dade November 2021 - Single Family 2.1 Months of Inventory Supply
Miami-Dade November 2021 - Short Sales and REO's Closed Sales - 0.5%
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Dec. 1, 2021
Happy Holidays! Happy Hanukkah! Merry Christmas! Happy New Year!
Broward County Market Report
Yes, yes, yes! South Florida Real Estate Properties are moving quickly right now. The typical holiday time slow moving sales are non-existent this year. Sales are in high gear!
Today our low interest rates are producing all time low mortgage rates driving up buyer demand; combined with the robust Standard & Poor's 500 Index; the appeal of stable assets in a volatile economy; homebuyers leaving tax-burdened Northeastern states to purchase sunny Florida's (no state income tax); and work-from-home and remote-learning policies have all combined to create a robust market for luxury single-family properties.
Speaking of mortgages, the loan limit as of yesterday November 30, 2021 changed, the Federal Housing Finance Agency (FHFA) raised loan amounts. Now, on single family residences the conforming loan limit for 2021 is $548,250.00. This number is going up by $98,950.00 to $647,200.00. You will discover certain lenders can honor this new loan policy today. The FHA new loan limit for 2022 is $460,000.00, up from $420,500.00. This is good news as it allows home buyers to afford "more home" value!
What were some previous historical mortgage rates?
October 1981 - 18.63%
January 1995 - 9.22%
December 2009 - 4.71%
Global vaccinations are rising and with unstable political situations around the world, South Florida is seeing an increase in foreign homebuyers. Global buyers are coming here for the vaccine and purchasing property. Yes, your competition is present!
The National Flood Insurance Program cannot sell new or renew flood insurance policies after 11:59 pm Eastern time on December 3, 2021. Congress will be working toward a 5-year reauthorization and reform measure.The existing National Flood Insurance Program policies will remain in effect until their expiration date (i.e., the renewal date plus a 30-day grace period), and claims will continue to be paid as long as Federal Emergency Management Agency has the funds on hand.
Miami-Dade County broke its record for the most annual home sales in only 10 months as October transactions surged year-over-year, according to a report by the MIAMI Association of Realtors (MIAMI) and the Multiple Listing Service
Inventory for Broward County, Miami-Dade County and Palm Beach County
Broward October 2021 Condos/Townhomes 1.9 Months of Inventory Supply
Broward October 2021 - Single Family 1.4 Months of Inventory Supply
Miami-Dade October 2021 Condos/Townhomes 4.0 Months of Inventory Supply
Miami-Dade October 2021 - Single Family 2.2 Months of Inventory Supply
Palm Beach October 2021 Condos/Townhomes 1.3 Months of Inventory Supply
Palm Beach October 2021 - Single Family 1.3 Months of Inventory Supply
Nov. 29, 2021
Weston Florida is a beautiful friendly well maintained city in the western portion of Broward County. It was built by Arvida. Anyone who has heard of Arvida Corporation knows at one time Disney owned Arvida. These two forces both shared a commitment to quality. Weston is a quality city 5 miles by 5 miles with winding roads, gorgeous landscaping with Royal Palms and Oak Trees lining the streets. The multiple neighborhoods are mostly guard gated or gated communities giving a sense of privacy and peacefulness. The schools are A rated. There are multiple parks and 2 golf courses inside this city.
There are condos, town homes, and homes of various sizes. There is something here for everyone. The weather is just beautiful and sunny. It feels like you are driving into a park like setting when you first arrive.
Nov. 17, 2021
Wishing you and your family a safe and Happy Thanksgiving!
Nov. 7, 2021
You may be one of the individuals that has been unable to travel. November 8, 2021will change this fact. This Covid virus placed a lock down for many foreign home buyers looking for South Florida Real Estate. The United States Federal government has finally eased travel restrictions. I personally welcome you to South Florida's housing market. .Let me know how I can help you with a home purchase in beautiful South Florida.
Travelers from 33 Countries world wide are now allowed to fly on airplanes to the United States as long as they can show proof of their vaccinations. It has been 20 months since the travel restrictions have been in place. Come to South Florida for your real estate needs. I am happy to accommodate you.
Foreign Buyers may be looking for Fort Lauderdale Homes on the intracoastal waterway that leads into the ocean. Fort Lauderdale is filled with great restaurants, the beach, shopping all close by. Another area is the city of Weston that may intrigue foreign buyers with its home town feel. International buyers will love the guarded gated communities amongst the stunning landscaping and winding roadways with side walks. The biggest obstacle currently is the lack of inventory.
Nov. 5, 2021
Wishing you and your family a happy and safe Thanksgiving!
The United States will lift all travel restrictions for incoming non-citizen, non-immigrant travelers beginning November 8. 2021. Visitors to the United States are required to be fully vaccinated and produce proof of their COVID-19 vaccination prior to boarding a flight to the country, according to the White House. What does this mean for the real estate industry? Foreign buyers are coming back!
In this historically hot housing market we are experiencing a slowdown in the number of sales over the past 3 months which is due to the decreased level of inventory. In addition, there is a slowdown in new listings. For those looking to purchase a home that is $500,000.00 and less, the inventory is extremely low in this tight housing market.
The 30-year fixed-rate mortgage (FRM) averaged 3.14% for the week ending Oct. 28, according to the latest Primary Mortgage Market Survey® (PMMS®) from Freddie Mac. The latest prediction is the mortgage rate will hit 4% in 2022. This will be a gradual increase in mortgage rates.
The foreclosure moratorium ended on July 31, 2021. Why are you not seeing foreclosures?Only 1.3% of homes nationwide are vacant, according to a new report from ATTOM Data Solutions, a real estate data firm. Foreclosures are expected to increase over the coming year, but buyer beware as some foreclosures can have unexpected liens accompanying them. You need to be careful with what you are purchasing. Being on a foreclosure team for 3 years taught me a great amount of information on foreclosed homes.
Yes, we are continuing to see home prices increase. The Florida housing market is performing exceptionally well, with more demand than supply. The pandemic has not stopped the buyers. There are more sales now than in the pre-pandemic era that occurred two years ago. Closed sales of single family homes are up 20% and condo/townhomes closed sales are up 31.5% in September 2021 compared to September 2019.
Where are we with South Florida's Market?
For September 2021 in Broward County:
Closed Sales are down 3% to 1,489 Sales
The Median Price is up 17.5% - $499,450
The Supply of Inventory is Down - 42.3% to 1.5 months of inventory
Oct. 2, 2021
As the Fall Real Estate Season has arrived, we look at how 2021 marks a year of very low interest rates and incredible buyer demand, met with an inadequate housing supply shortage in South Florida's market inventory. Demographic shifts of people moving from the North Eastern and West Coast of the United States into Palm Beach, Broward County and Miami-Dade County have added to the huge purchasing of homes and high prices.
The pandemic has brought even more out-of-towners to the area because so many people can now work from wherever they want. Homebuyers are now moving to South Florida from all over the map. The new term is the 'Great Reshuffling'. Pending home sales are up 6% from 2020 despite dwindling listings. South Florida has seen the migration of home buyers triple since last year. Miami tops the list of most popular U.S. migration destinations. Keep in mind, the United States will reopen in November to air travelers from 33 countries including China, India, Brazil and most of Europe who are fully vaccinated against COVID-19, r. Foreign Buyers are going to be added to South Florida's housing mix.
The Federal Reserve warned in September 2021 that it was preparing to taper its emergency stimulus efforts from the pandemic, including winding down its bond purchases. That is expected to make mortgage rates rise, as well as rates on credit card and car loans.The National Association of REALTORS® has been predicting rates will rise over the next few months: It is predicted the 30-year fixed-rate mortgage to average 3.5% by mid-2022.
Flood Insurance is another topic for discussion. The Federal Emergency Management Agency (FEMA), which oversees the National Flood Insurance Program (NFIP), is updating its risk rating methodology on Oct. 1, 2021. FEMA’s Risk Rating 2.0 - FEMA is replacing an inaccurate rating system that has not been updated in half a century and is not sustainable for homeowners or taxpayers. FEMA has been using flood zone and the elevation certificate as their indicators for flood insurance. With FEMAS's Risk Rating 2.0, the system will view and price each home individually using modern industry technologies, including elevation, distance to water, and cost to rebuild. Buyers may be able to assume the Sellers Flood Insurance Policies or secure a flood insurance policy.
The first impulse is to look at inventory and see what is available, but as a buyer, be prepared with your proof of funds or pre-approval letter. If you need a referral for a great mortgage consultant, let me know, as I work with the best! This is your first step to home buying.
Understanding the mortgage process and what type of loan you are comfortable with does take some understanding. Your credit report is more than a number. you need to know what that number means and what you can buy with that number. Your income, your debt to income ratio, your down payment, points, your savings, interest rates are all part of the equation to the sale of a home.
Why do I mention having your pre-approval ready to go? For those who keep looking online without having a pre-approval letter, please keep in mind it takes time to gather and give all of your information to a mortgage specialist. By the time you choose a home and finish your requirements, the property you fell in love with may now land in the hands of another buyer who was qualified.
What is a balanced market? = 6 to 9 months of available housing inventory.
The luxury sector, which is ( 1 Million dollars or more) 12 to 18 months is an optimum balance.
For August 2021:
Miami -Dade county had 2.3 months of active housing inventory.
Broward county had 2.3 months of active housing inventory.
Miami's townhomes and condos have 4.6 months of active inventory for August 2021 while Broward counties townhomes and condos have 2.1 months of inventory
Sept. 1, 2021
September 2021 South Florida News Letter
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Today's 2021 hot housing market is one of the peculiar outcrops of the pandemic. South Florida real estate has been booming throughout this pandemic with open house line ups, and multiple offers. Buyers from the Northeast have been flooding the market, seeking out more space and sunshine as well as the tax breaks. Floridan's love Florida because Florida does not have a state tax.
Our real estate market was never filled with a multitude of houses for sale before Covid-19. Yes, this outbreak placed a strain on home buyers and home sellers worried about their health, with lockdowns, vaccines and mask mandates.
The Federal Reserve stepped in to help our current day situation by keeping mortgage rates at an all time low. Mortgages have remained low, making home purchases more affordable, thus, fueling the transactions!
Supply and demand has been the main reason for the increase in housing prices. Lack of inventory in certain price points is impacting sales, particularly for single-family homes. The needs from buyers is higher than our low supply of homes. Foreign home buyers are coming to South Florida, now that global vaccinations are rising, adding to the number of buyers.
To win the bid, most homes are fetching over the asking price. There is more inventory on the market but not enough to keep up with current day demand.
Usually, we see in September being back to school time and the holidays approaching, the housing pricing declines slightly. This year is not the normal year in any sense and no one can anticipate the same scenario.
Currently, mortgage applications are down slightly as buyer fatigue has set in. We are seeing an ever so little decrease in housing prices. The shortage of inventory is keeping the market strong. There is no mortgage fraud which caused the last downturn in real estate, so there is no real reason to believe anything too different will occur in the foreseeable future.
So what is a normal market? Four to five months of supply is average. A lower number means it is a Sellers Market. Currently, Broward county is showing 1.5 months of housing inventory and 2.2 months of condo/townhome inventory.
Wishing you a Happy Labor Day!
Susan J Penn Realtor
954-557-5993
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Jan. 18, 2021
South Florida is a little slice of heaven! The weather is amazing as the temperature is usually warm and the sun is shinning brightly on us! South Florida. Florida does not have a state Tax so multiple people leave states such as New York with their city, state and Federal taxes where it snows and come to enjoy the warm weather in South Florida.
South Florida has everything you could ask for: We have the beaches, fancy restaurants, fabulous high end malls and people from all over the world.
For real estate, there is a variety of sought after locations. You may like Island Living and want Fisher Island, you may want to purchase a home on the beach in Golden Beach, you may like gated guarded family living in Weston, or you may like high rise living in Sunny Isles on the beach.
Call Susan Penn Licensed Realtor 954-557-5993 to discuss your options or send me a text.
Jan. 5, 2021
Davie Florida is a great city with a suburban feel situated in Broward County, and one of the best cities to own a home in South Florida. The Davie Florida residential sections are separate from the commercial section areas. Davie Florida has a vast array of real estate housing, both one story Davie homes and two story Davie homes. You will discover Equestrian homes where you can have horses and barns and no home owner associations. These homes run throughout Davie in various areas. In addition you will find one and two story homes on an acre of land featuring homeowner associations that are usually gated or guard/gated, or homes with smaller land plots, with nearby parks, schools and shopping.
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