Part 2: 15 Reasons Why Homeowners Sell Their Lakeland Fl Homes
Why do homeowners sell or move on an average of 5 to 7 years? This may be a shock to some people who have lived in their homes practically half of their life. Here’s the second part of reasons why homeowners sell their Lakeland Fl homes. If you missed part 1 of my article, please click here.
8. Moving closer to family. As people age, they typically wish to move closer to family and relatives. Parents like to be near their children and grandparents want to be near their grandchildren.
9. Moving farther from family. On the flipside, some family members sell their home and move out to a different state to put some distance between family members to keep the peace. This usually happens to divorced or separated couples or dysfunctional families.
10. Health issues. Physical disorders like back problems, hip replacements, or knee problems make it for elderly homeowners to climb up and down two storey homes so it would be more practical for them to move into a single storey Lakeland Fl home.
11. Retirement. Homebuyers over the age of 55 are typically attracted to active adult communities or retirement communities. These communities are planned to suit the needs of retirees and have amenities such as clubhouses, golf courses, workout facilities, backyard barbecue parties, weeked social gatherings, and more designed for retired homeowners.
12. Home improvement. There are some people who enjoy fixing or renovating a home and then putting up that Lakeland Fl home for sale.
13. Deferred Maintenance. Some people prefer not to go through the hassle of renovating or having to replace the furnace or roofing. For them, it’s easier to just buy a new Lakeland Fl hoe, especially if the home they are staying in is around 15 years old or more. They want to get out of the home before everything goes haywire.
14. Change in Lifestyle. Some people get tired of homeownership or being in one place for years and long to spend the rest of their lives travelling or pursue a hobby, or simply have less responsibility. So these people sell their homes and use the cash to realize their dreams.
15. Cash through Equity. Some homeowners simply need the money. Whether they are going through a financial hardship, or are simply afraid of another drop in home values and want to see the profit in their hands before their home’s value depreciates.
Thinking of selling your home! If you experience any of these changes and you considering selling your home, I have a passion selling your home and would like to share my online marketing expertise with you. Please email me at petra[at]petranorris.com or call 863-619-6918. I have lived in Lakeland for the past 20 years and service areas of Lakeland, Auburndale, Bartow, Winter Haven, Mulberry and the surrounding cities in Central Florida.
Seller Tips | What Do Buyers Really Want In A Lakeland Fl Home?
In the world of real estate, size does matter, according to a recent survey conducted by the National Association of Homebuilders. Most buyers are looking for homes around 2,000 square feet. The problem is, 50% of homes in the U.S. are almost 40 years old and do not possess the amenities buyers are looking for.
According to NAHB, only 1/3 of homes in the market have 2,000 square feet or more of livable space. Existing homes are most likely under 1,600 or even under 1,200 square feet, which is a size that only a few buyers want.
So does this mean bad news for Lakeland Fl home sellers with homes under 2,000 square feet? Will buyers skip your home or put in the bottom of their list? It actually depends. Don’t lose heart, there are other factors that buyers look for in a home in Lakeland FL aside from the size.
Location is also a very important consideration for homebuyers. Size and location are often open for negotiation and buyers may even consider sacrificing one area in order to get the amenity which is more important to them.
For example, your Lakeland Fl home for sale may be smaller than what the potential buyer was looking for but it is located in a neighborhood with the best school district and has a potential for expansion, then all these factors will make your home still appealing.
To properly market a home which falls short in size, look for other features and amenities in your home that you could highlight. Make sure you and your Lakeland Fl agent have good marketing materials like brochures and flyers that have fabulous photos and descriptions which play up your home’s best features.
Another great tip is to show the possibilities in your home. Say your buyer needs a home office and you have an extra room that could easily be turned into an office. This will give your buyers an idea of how to use different areas in their home to meet their own needs. Helping buyers see the possibilities will open their minds and not exclude your home because they think that your home will not meet their needs.
If your home lacks in size, then make up for it by showing more space as possible. Remove any bulky furniture and clutter and try to leave as minimum furniture as possible. This will give the home an airy and refreshing feel.
If your Lakeland Fl home for sale is smaller than what most buyers are looking for, don’t lose heart. You just need to emphasize the fantastic features and amenities that come with your home.
Energy Efficient Homes Saves Both Energy And Homeownership
Today, in honor of Earth Day, I thought I would bring to you some energy efficient tips not only for home owners, for tenants as well as you are all responsible for your own electric bill. I recently had done an HVAC annual maintenance check up, such check up should be done by a licensed and reputable company not just once but really twice a year. If you live within city limits, the City of Lakeland will provide you with a $50.00 rebate/credit on your utility bill for such a service. They also have programs available for insulation where you can save $200. For more information about energy savings program for Lakeland Electric Customers, please click here
Buying energy efficient Lakeland Fl homes or upgrading your existing Lakeland Fl home for better energy efficiency doesn’t just save the homeowner on energy bills but allows a more sustainable homeownership.
An Energy Star-rated home has 1/3 lower chances of a mortgage default than a home without this rating, according to “Home Energy Efficiency and Mortgage Risks,” by the University of North Carolina (UNC).
What’s the connection between the energy efficiency and defaulting on mortgage payments? It’s simply due to the fact that energy efficient homeowners save more money on their energy bills, so they could put that money toward their monthly mortgage.
The study also found that Energy Star homeowners were one-quarter less likely to prepay when it comes to their mortgage. Because lenders consider prepayment a risk, these loans are more valuable to lenders, according to the study.
Energy efficient homes also add more value to the home. Aside from saving on energy bills and having more money to pay for mortgage, homeowners with solar-powered Lakeland Fl homes can get up to $20,000 added value to their homes, which could help them get out of a financial difficulty in the form of a cash-out refinance, home equity loan, or putting up their Lakeland Fl home for sale.
Understanding Your Lakeland Fl Home Appraisal
Home Appraisal is a term every buyer or seller encounters during the Lakeland Fl home buying process. What is an appraisal and how does it affect the entire deal?
Some sellers find themselves in this unfortunate predicament where they have some buyers lined up with an offer ready, only to find out that the buyer’s financing has fallen through. The reason: the asking price of the home is way beyond the appraised value.
This scenario is an all too common cause of the high number of cancelled contracts foras well as in other real estate markets.
To avoid getting into this situation, make sure you know something about home appraisals:
1. Lenders will not usually write a mortgage for more than a Lakeland Fl home is worth. This sets them up for a huge financial burden in case the prospective buyer defaults on their loan. The lender will instead write a mortgage for whichever price is lower, whether it be the appraised value or the sale price.
2. An appraisal is done by the local appraiser’s office or tax office. They compute the market value of your Lakeland Fl home based on square footage, and other specifics of the home such as number of bedrooms, if the home has a fireplace, type of flooring, etc. A home with a fireplace and laminate floors will have a higher appraised value but will also cost more in taxes.
3. Homeowners will receive a statement from the appraiser’s office every year showing the appraised value of your Lakeland Fl home. If you feel the value is incorrect, then feel free to contest it with your local tax office.
4. The local market conditions could generally affect the appraised value of your Lakeland Fl home for sale. If there are 10 on your street and half of them are foreclosures, then you could be in for a shock when you find out the current value of your home, since foreclosed homes sell at 15%-20% lower than a regular home. According to the NAR, “Distressed sales, which tend to sell at steep discounts, continue to hamper home prices nationwide.”
Make sure to get the help of an expert Lakeland Fl listing agent to help you determine the value of your home based on current market conditions. A good agent will be able to help you come up with the best price of your home which will still be competitive with other homes in your area maximizing your profits.
Lakeland FL Homes Can Make Great Investments
This question was posed by someone recently on Trulia, a popular website for people looking for real estate: “Is Lakeland a good area for an investment property? I am looking for a steady monthly rental income.”
My answer is yes. I agree with several property managers and real estate agents who replied to the question by suggesting areas such as south Lakeland and locations in Winter Haven near LEGOLAND.
I would also add Bartow to the list of good investment areas because it’s a small city and many investors tend to forget about it. Lakeland is a hotbed for investors right now, and that has created a seller’s market.
But when it comes to investment properties listed below $100,000, nearly everywhere in Polk County is a hotbed. It is common to receive multiple offers right now for listings in this price range. I recently worked with someone on a short sale property in Winter Haven that received nine offers.
So how do you increase the chances of your offer being accepted over other offers? Hire a real estate agent or an attorney. These professionals can tell you if you’re not offering enough, or if you’re offering too much. They also perform all the necessary due diligence work to make sure the property you’re considering as an investment is a good property. A real estate agent can conduct a comparative market analysis to make sure you don’t overpay.
Don’t buy on the courthouse steps. You might think you’ve bought something for a steal, but there can be hidden fees such as liens that would have been easily identified by an agent or attorney. We have resources and support teams we work with to do title searches.
They say cash is king, and I mostly agree with that statement- unless you have a great working relationship with a bank that can loan you money right away, should you find a great investment opportunity. If multiple offers are the same, but one offer is cash, sometimes the seller will go with the cash offer.
I would be remiss if I didn’t devote a few words to investment properties elsewhere, particularly in the Caribbean. I get questions about this occasionally. The truth is if you can afford the real estate, investing in island property can be a wise move. I recently happened upon a great blog post on the top five places to buy Caribbean real estate. According to this post, they are:
- Trinidad and Tobago
- Dominican Republic
- Roatan/Corn Islands
Let’s say you opt to purchase homes or villas in Curacao or Aruba. These are destinations that people love to visit. For example, Europeans flock to Curacao during the winter. If you own property there, you can negotiate with property management firms on the island to see that it gets rented to visitors while you’re not using it. This is a great way to enable your investment to pay for itself, yet still be available for your own vacation use when you want it.
Regardless of where you buy, I’m a firm believer than if properly researched, real estate is a great investment option. If you would like help locating an investment property in Lakeland, call me. I can help.
Furnished Sandpiper Golf & Country Club for Sale – 6223 Peacock Run Lakeland FL 33809
Lovely vacation home or retirement home in the 55+Active Adult community in Lakeland FL for sale. Home located in the Sandpiper Golf & Country Club Community which is fully furnished and has updated stainless steel appliances. 2 bedroom/2 bath featuring a screened-in lanai with the view of the Golf Course. Breakfast bar and eat-in kitchen with the bay view window enhances the layout of the home.
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Sandpiper Golf Homes for Sale – 5962 Chickadee Drive Lakeland FL 33809
The Sandpiper Golf & Country Club is an active 55+ active adult community located just off North Socrum Loop in Lakeland FL. This 3 bedroom 2 bath home features 1828 sq.ft of living space with a great layout of split floor plan. Neutral colors throughout the home with ample room to strategically place your furniture. Upon entering this well-maintained home that boasts a large family room and separate dining room which is great for entertaining or family gatherings.
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