Lakeland Florida Housing Market |Market
The charts below will give you up-to-date real estate trends in real time for themarket according to Florida Regional MLS. Monthly housing statistics for Lakeland FL. Detailed reports with Average and Median Sales Price, Days on Market and Market Activity for Lakeland, Florida.
Place your cursor over a field will show the actual figure.
Average Sold Price Lakeland Florida separated by Zip Code
Median Sold Price for Lakeland Florida separated by Zip Code
Average Days on Market for Lakeland Florida separated by Zip Code
Lakeland Florida Housing Market –Market
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Your Lakeland Fl Home For Sale’s First Price Should Be the Best Price
If you are putting your Lakeland Fl home for sale on the market and it’s a seller’s market where buyers are competing for limited inventory, you may be tempted to sell your home at a higher price.
Here’s advice from an experienced Lakeland Fl agent: Don’t do it!
I recently had a conversation with a listing agent about the home he has listed in Lakeland. The home shows very well and is priced in the $200,000 price range. Recent home sales within the community sold in the $170,000 price range, so I asked him after I researched to find comparable homes where he found additional $30,000 in upgrades. Well, he could not come up with anything other than to say it is overpriced and the sellers won’t go for anything less. This home is going to be on the market for a long time.
An experienced Lakeland Fl agent with your best interest at heart will tell you that it is very important to correctly price your home from the start to get it sold quickly and at top dollar. Research shows that when a home is overpriced and the owner makes several price drops while the home stays on the market, the owner ends up getting a much lower price than what they originally could have gotten for the home. The longer a home stays on the market, the higher the discount will be on the original price.
So how do you correctly price your Lakeland Fl home for sale?
If you price your home too high, it won’t attract any buyers. Many sellers price their home based on what they originally paid for it, the mortgage balance, or how much they need in order to move to a new home. These are all wrong ways in determining the best price of your home.
If you are interviewing several real estate agents in Lakeland Fl, you might be tempted to select the agent who suggest the highest price for your home. Beware of these agents. The Lakeland FL agent who effectively uses the CMA to properly price your home is the agent who will be able to sell your home quickly and for top dollar. Be wary of an agent who will only tell you what you want to hear.
A comparative market analysis includes the sales price of similar homes in your neighborhood that have sold in the last 2 months. Some agents will also include comparable homes that are currently on the market.
The best Lakeland Fl agent will help you measure your sales price against competition and factor in local market conditions (including whether it’s a seller’s or buyer’s market) in order to determine the best price for your home and attract more potential buyers.
Selecting the right price for your home begins with selecting the right Lakeland Fl agent to help with your Lakeland Fl home for sale. When you follow your agent’s advice, you will be able to sell your home quickly and at the best possible price.
What’s the difference between an Appraisal and a CMA when it comes to selling your home?
There are two ways you can determine the current value of your home – through a professional appraisal or a comparable market analysis (CMA). What’s the difference? A professional appraisal is performed by a licensed appraiser. While both are considered an opinion of value, an appraisal is a formal process that uses three approaches to determine the value of your home. The Cost Approach is derived from a calculation of the cost to replace the home, less depreciation and other factors, plus the land value. The Income Approach is pertinent to investors which involves estimating what an investor would pay based on the income produced by the property. The most common and accurate approach is the Sales Comparison Approach. This involves providing a comparison to other similar homes located nearby that have recently sold.
In a Sales Approach, the professional appraiser will visit the home he or she is contracted to appraise and will compare it to other homes currently for sale, homes under contract and homes sold in recent months in the area with similar square footage, condition, age, amenities, number of bedrooms, and more. The data gathered by the appraiser will be compared to property tax records, along with recent market trends to determine if prices have gone up or down. Information from the MLS is also used by appraisers.
If an appraisal comes in lower than the asking price of the subject home, the bank may not grant the buyer the loan depending on the terms and condition of the sales contract between the seller and the buyer. Therefore, the seller will most likely need to reduce the price so the buyer can purchase the property.
A real estate agent not licensed as an appraiser can’t perform appraisals. Appraisals are generally requested by the bank to protect its interests and to make sure they don’t loan too much money for a home currently under contract to be sold.
A CMA is done by a professional real estate agent and is used to determine a home’s current market value. The seller can then determine the best listing price for their home where it will sell for the highest amount possible in the shortest amount of time. Hiring a real estate agent to do a CMA is equally important to hiring an appraiser. You want to hire an agent that is experienced providing you such an analysis. He or she must be knowledgeable and have a true understanding of the real estate market, trends and valuation concepts and is familiar with your community.
Your real estate agent will get information from the MLS (multiple listing service) on similar listed homes for sale, sold data, property tax roll data, historical trends and use this data to generate a CMA. The CMA includes homes for sale in your immediate area as well as recently sold properties that are similar to your home in square footing, number of bedrooms, appearance, features, and price range. Such analysis may also include comparable homes that are no longer on the market and homes currently under contract.
Establishing the fair market value of your home is very important to buyers and their lenders. Once your buyer applies for a loan, the lender will order an appraisal on your home for sale. If the price of your home is way above comparables, your home may not sell and may stay on the market for a long time.
If the price of your home for sale is based on your agent’s CMA, chances are good that it will match the buyer’s appraisal. This means your buyer will most likely be approved for the loan and you can quickly sell your home.
If you are thinking about selling your home in Lakeland, contact Petra Norris at 863-619-6918 for an appointment or simply click here to fill out a form.
7 Tips on Taking Great Photos That Will Sell Your Lakeland Fl Home Quickly
I tend to answer a lot of questions from prospective buyers and the most frequent question I get asked is, “can you send me more pictures?”. Great photographs can attract potential buyers to your Lakeland Fl home for sale and help sell your home quickly.
You don’t have to be a professional photographer or have an expensive DSLR camera to achieve this. Taking good photos that will sell your Lakeland Fl home is rather simple.
Here are 7 tips on taking great photos of your Lakeland Fl home especially when selling it as a for sale by owner:
1. Take photos after sunset. The best time to take photos outside your Lakeland Fl home for sale is right after sunset when the sky starts to get dark. The worst time to take photos is midday, when the light is too bright, showing any flaws in the home and casting shadows everywhere
2. Look for the best places to take photos of your house before it gets dark. Choose 3 or more areas of your home that looks best just before it gets dark. That way you can take all the shots quickly in one evening and maximize the half light.
3. Turn on all the lights in your Lakeland Fl home for sale. This includes lamps by the bedside and in the lounge room. Turn on all exterior lights as well in the patio, porch, walkway, etc. having the lights on makes your home for sale look warm and inviting. The light also brings out the contours and shape of your house in the evening light.
4. Take photos from different angles. Use wide angle shots and close up shots of the entrance or patio and experiment with them to see which looks best. Make sure you grab the buyer’s attention through your photos.
5. Remove unnecessary items. Be aware of items that might be included in the shot. Remove personal items, trash bins, toys, dog beds, and clutter lying around. Move the cars off the driveway. Make sure there are no distractions in your photos. Avoid having power lines or washing lines in the photo.
6. If your home for sale has a large driveway, take photos from closer to the ground or high up by stepping on a ladder. This will give more focus on your home by reducing the driveway perspective.
7. Placing flowers on the dining table, a bottle of wine and some wine glasses on the outdoor lounge table, or even a dinner setting could make your Lakeland Fl home for sale much more inviting to potential buyers. When you add a sense of scene, your potential buyers will be able to imagine themselves living in your home and will be more attracted to you Lakeland Fl home for sale.
You could use all these professional tricks in getting the best photos of your Lakeland Fl home for sale. If you intend to put the homes on the website, you shouldn’t worry too much about resolution or quality. Some websites actually reject photos with very high resolutions, therefore, a simple digital camera will do the trick.
If you are still not confident or satisfied with your photos, you could hire a professional photographer to take photos of your Lakeland Fl home for sale.
Getting great photos of your Lakeland Fl home for sale is not hard and doesn’t cost much but will go a long way in attracting potential buyers and selling your Lakeland Fl home for sale fast.
How To Remodel A Lakeland Fl Home to Increase Its Value?
If you are planning to remodel your Lakeland Fl home to sell it, here are some pointers you could add in to your budget to make your remodeling more cost effective and to increase the value of your home:
1. Go easy on appliances. Don’t go overboard, especially with kitchen appliances. Don’t get carried away when you remodel. Instead, think about the buyer’s perception. An expensive stove may increase your investment but maybe not the perception of the buyer that your kitchen is state of the art. What is important is the kitchen functions as well as it looks.
2. Add functionality to areas of the Lakeland Fl home. Adding some more thought to your plans will go a long way. You could add large drawers in the kitchen for more storage space for pots and pans. Adding shelves also increases the storage space in your home. You will always find something to improve in your home that will be useful and of value to the potential buyer.
3. Add character. Adding character to rooms could be as simple as adding a little color. You can add stylish tiles next to your kitchen countertop. Adding or lessening light in the room can dramatically change the look and feel of the room.
4. Check on your remodeler. If you hired a builder to remodel for you, make sure that you are getting a fair price by shopping around before remodeling. Make sure they use sturdy and quality materials that do not easily break, burn, stian, weather, or fall apart. You could also investigate the remodelers past projects as well as license and insurance. Communicate regularly with the remodeler and make sure they are doing exactly what they are told to do.
Remodeling your home could spell a big difference in selling your Lakeland Fl home for the price you want. Remember that the highest perceived value for a buyer is getting a place where they can have a great time with their family.
Before you put your home on the market, be sure to get a comparable market analysis from your here.agent and asked the questions that are listed by clicking
Another article worth reading is, “A Guide to Staging your Lakeland FL Home for Sale“