Our thoughts on the latest real estate news you are hearing about

How does this lawsuit affect you?

In class action law-suits, it is no surprise that only the Lawyers will be the winners in this monumental courtroom battle when the dust settles.

The lawyers have requested $80 million in fees.

The consumer payout based on the number of parties involved is expected to be approximately $10 per person.

It’s still early to see what the implications to buyers and sellers will be. Here is our review of the situation so far.

Traditionally, the BUYER that spends money in a real estate transaction.

It is the SELLERS who have covered both sides of the commissions
on their closing statement.

This comes from the profit they are making on their sale. Typically it is money the buyer gave them in their loan package.

With this new proposal (still being finalized) buyers will need
cash to pay down payments,

closing costs and commissions making the purchase unaffordable for too many.

The commission in this new scenario WILL NOT BE FINANCEABLE
(with what we know at this time).

Our Veterans, who have served our country at a great sacrifice,
enjoy the benefit of being able to buy with 0% down.

This benefit will be impacted greatly if they have to pay
the buyers agents commissions as well.

Cash buyers should not be affected greatly, however,
VA and FHA buyers will feel the sting.

Valuations have been based on closed sales and these sales included
the seller paying both sides of the commission.

By removing the Buyers commission this will also reduce the sales price
and change the appraised value.

Realtors are navigating these new rulings to see how to make the
transaction still be for the good of all.

There also remains the question of repairs needed on the property being sold as often credits are given to handle these issues.

There are caps on these credits that could have an effect on the overall transaction.

At Keller Williams we are proactively working with our legal departments in order to make sense of these changes

and how it will work best for our buyers and sellers.

You can rest assured that as we always have been there for you to navigate you through the selling and buying process,

we will continue to do so with our seasoned expertise!

Trust Your Family’s Move to Our Family’s Expertise!

Upcoming Fun Events

Keep Coral Springs Beautiful Clean-Up

The city is hosting a Keep Coral Springs Beautiful Clean-Up Day.

Volunteer and Service Hour Opportunities:

• Those who are interested in volunteering must be 14 years old or older.

• Volunteer hours are available for students who complete the project.

• Lunch will be provided at Mullins Park after the clean-up.

• All volunteers are eligible to participate in raffle drawings.

  Date and Time:

  Saturday, April 13, 2024

• 09:00 AM to 01:00 PMLocation:Provided once registered

More Events

Carter Park Jamz

Enjoy a free concert series with a broad range of musical varieties featuring a different live performer each showtime! Carter Park Jamz takes place on the third Friday of select months from 7 to 10 p.m. at Carter Park. For several years, Carter Park Jamz has provided residents and visitors with the opportunity to experience music outdoors with their family and friends while relaxing under the evening stars. Residents and visitors are encouraged to bring lawn chairs, picnic blankets, and coolers. Food and beverages are available for purchase. The concert is free to attend. From R&B to pop, Carter Park Jamz has it all!

Date and Time:

Friday, April 19, 2024

7-10 PM

Location:

Joseph C. Carter Park

1450 W Sunrise Boulevard,

Fort Lauderdale

Movie in the Park – The Super Mario Bros Movie

The City of Parkland is bringing the big screen to your own backyard.

Presenting Movies in the Park at the Pine Trails Park Amphitheatre. Join us as we transform the park into our own local movie theater with an 18-foot inflatable movie screen and delicious popcorn (limited supplies available). Bring your chairs, blankets, and pillows and get comfortable under the stars.

Date and Time:

Friday, April 19, 2024

8:00 PM - 9:30 PM

Location:

Amphitheatre

10561 Trails End

Parkland

Market Update for April

More Events

Boca Raton’s Beach Treasures

Beachcombing is a favorite Florida pastime. With warm sunshine, cool breezes, sand between your toes, the sound of the surf, and the smell of the salty sea air, what’s not to love? Learn all about the shells and other treasures found on Boca’s Beaches, then join one of our expert beachcombers in search of the mysteries the sea has left behind!

• All ages: children under 18 must be accompanied by a registered parent/guardian.
• Advanced reservations required; call 561-544-8605 to register for this free program.
• Programs are subject to cancellation due to inclement weather or minimum registration.

Date and Time:

Tuesday, April 23, 2024

2:00 PM - 3:30 PM

Location:

Gumbo Limbo Nature Center

1801 North Ocean Boulevard

BOCA RATON

Know someone who is moving? Have them check us out at

www.GreatFloridaHomes.com

Our team is in the top 1% for service and results in the nation! #LetsFlamingle

Joy Carter, Jeff Booker and Tara Carter

Keller Williams Realty Consultants