There were 70 homes newly listed in Lakeland with an average sales price of $200,460 or $97.19 per square foot with area Realtors®, a decrease of 6 homes listed from the previous week. While the total inventory showed a slowly declined this week (2123 properties as of Thursday, April 30th) in Lakeland, the types of homes being actively marketed changes daily according to the Multiple Listing Services (MLS).
Amongst the newly listed properties, here is a breakdown of each property category:
5 condos listed with an average sales price of $118,880
4 mobile homes listed with an average sales price of $87,925
1 townhome/villa with a sales price of $39,900
60 single family homes with an average price of $217,437
The priciest home that came newly on the market here in Lakeland, Florida is a 1991 Lake Front Pool Home, in the Christina Woods Subdivision; featuring 5 bedrooms and 4 ½ baths with almost 5,000 square feet of living space currently offered for $998,000. On the contrary, the cheapest home newly on the market is a 2 bedroom 1 bath property listed for only $27,000 – under $35.00 per square foot – located in Lincoln Park.
The data for this report was obtained from the Mid-Florida Regional MLS, it is deemed reliable but not guaranteed. This report does not include “For Sale By Owner”.
Take a look at the breakdown by zip code:
33801 – 08 with an average sales price of $89,675
33803 – 09 with an average sales price of $201,800
33805 – 04 with an average sales price of $112,725
33809 – 11 with an average sales price of $166,990
33810 – 14 with an average sales price of $193,128
33811 – 06 with an average sales price of $152,608
33812 – 04 with an average sales price of $154,700
33813 – 13 with an average sales price of $375,584
33815 – 01 with a sales price of $90,000
Weekly update on distressed properties in Lakeland
A total of 489 properties are currently facing foreclosure. There were 26 Lakeland homes newly listed in the distressed category with average prices of $131,409 or average square foot price of $73.57. Distressed homes are categorized as “Bank-Owned”, “Require 3rd party approval (Short Sale)”, “Pre-foreclosure”, and “In-Foreclosure”.
For more information on the location of the properties newly listed in Lakeland, pricing and size of the homes click on map picture which leads you to the interactive Community Walk map created by Chuck Welch of Lakeland Local.
Would you like to do your own search for properties? Look no further, click on the “Search for Homes” icon to begin your Lakeland real estate search – or contact me directly at (863) 619-6918. I’m here to help!
Lakeland real estate – The National Association of Realtors® reported that existing home sales declined 12.2% in March 2009, the Florida Association of Realtors® reports an increase of 30% or 13,085 existing homes sold from the year prior.
The median sales prices continued to slide for March from the previous year for existing homes on the national level to $175,200 (12.4%), state wide to $141,300 (30%), and Polk County to $99,900 (35%). Below are some other counties with their median home sold prices for March 2009 for you to compare.
- Brevard County – $137,500
- Hillsborough County – $143,000
- Pasco County – $111,550
- Osceola County – $119,900
- Pinellas County – $135,900
- Orange County – $137,100
Polk County home sales were up as it shows in Lakeland, Florida according to the Mid-Florida Multiple Listing Service (MLS), 571 existing homes were sold in Polk County – an increase in sales of 21.37% from the previous year and 22% from the previous month.
While working as a Lakeland Realtor® the predominant question I’m asked by sellers, buyers, and people on the streets is “When will the housing market rebound?” Well, I’m not an economist and surely, no one really knows and if you ask three economists right now, you more than likely will get three different answers. I am, however, realistic and honest about when I’m asked this question, when I say that the Real Estate Market will not change all that much during the course of this year or even next year.
While I do know that the housing market is very local in each state, each city and in some areas each neighborhood, let me break it down even further for you. I’m sure you’d like to know how your city is performing in Polk County, Florida
City Average Sold Price Median Sold Price # of Homes Sold
| AUBURNDALE |
109,324 |
110,000 |
21 |
| BABSON PARK |
155,000 |
195,000 |
3 |
| BARTOW |
114,182 |
73,100 |
13 |
| CLERMONT |
48,000 |
48,000 |
1 |
| DAVENPORT |
142,037 |
131,100 |
104 |
| DUNDEE |
105,500 |
105,500 |
2 |
| EAGLE LAKE |
144,200 |
144,200 |
1 |
| FORT MEADE |
31,500 |
31,500 |
2 |
| FROSTPROOF |
79,781 |
72,250 |
8 |
| HAINES CITY |
108,025 |
102,900 |
27 |
| INDIAN LAKE ESTATES |
77,500 |
62,500 |
4 |
| KISSIMMEE |
78,426 |
61,000 |
26 |
| LAKE ALFRED |
104,429 |
115,000 |
7 |
| LAKE HAMILTON |
181,168 |
181,168 |
2 |
| LAKE WALES |
90,448 |
72,500 |
23 |
| LAKELAND |
135,632 |
123,500 |
155 |
| LAKESHORE |
27,000 |
27,000 |
1 |
| MULBERRY |
110,513 |
115,250 |
18 |
| POINCIANA |
81,931 |
71,500 |
73 |
| POLK CITY |
124,688 |
129,000 |
8 |
| WINTER HAVEN |
98,157 |
87,250 |
72 |
While there is definitely a great time to buy, is there also a good time to sell?
The housing bubble of 2005 here in Polk County and its surrounding cities, such as Lakeland, Florida was manifested by increased home values we’ve never seen before, as much as 10%, 20% even 25% and these values were not maintainable in other areas as well much like around the country. Homeowners have expressed that they would rather wait until the market comes back – Interesting, how long are they going to wait?
The fact of the matter is that values have dropped considerable since the housing boom of 2005; depending in what town you live in. Have we reached bottom? Anybody could speculate at this time, but it seems to me that sellers are worried about their lost equity, their unwillingness to part with the lost equity in their current home, although they would buy another home under these same conditions.
Let’s look at another way to rationalize the Real Estate market and what kind of appreciation is necessary to get back to where we were at the market peak is to look at stocks.
For example, you purchase a stock for $100 dollars and it loses value by 25%. The stock is now worth $75 dollars. Many would incorrectly assume that if the stock goes back up by 25% it would be worth $100 again. WRONG – it would be worth $93.75. The stock needs to appreciate around 33.5% just to get back to break even! It works the same way with housing folks but on a larger scale.
If you owned a home worth $300,000 in 2005 and it has dropped by 25% it is now worth $225,000. Well guess what if the market goes up 25% the home will be worth $281,250. Still some way off from $300,000!
In a more healthy and stabilized market, economists predict that once we do finally hit bottom we will only see a more historical adjustment of 2-3% yearly appreciation on our homes. The slower the rebound, the healthier the Real Estate Market will be in the future. It will take some time to get to the levels prior to the market correction.
Wanting to sell your home should not be based on lost equity you once had on paper, if you really want to move.
Interest rates are at an all time low and this will not last forever. While it may take years before we get back to the levels of 2005, what are the chances interest rates will be as low as they are today? Remember, as your home appreciates, other Lakeland real estate values will do the same.
Only 7 Months left…..Time is running Out for Lakeland, Florida First-time Homebuyers to receive $8000 tax credit.
Folks, you may think “oh, I’ve got plenty of time”…. 7 months is not too far off, it will be here before you know it. By now, I’m sure, everyone knows about the $8000 tax credit for first-time homebuyers – just in case you might have missed this important news. Here is a little recap to qualify, home buyers must not have owned a home for the past three years and have a modified adjusted gross income (MAGI) that is less than $95,000 for single filers and $170,000 for a joint tax return.
Thinking that a sales contract that is signed, sealed and delivered by November 30th is sufficient, you may be surprised to know that it is not good enough to get the $8000 tax credit – you must close by November 30, 2009 to receive this credit.
If you are still sitting over the fence for the prices to drop and wait until a few weeks before the November 30th deadline to buy your Lakeland home, you may encounter problems with title companies and other parties involved in the transaction. Generally, a transaction from contract to close may only take a few weeks for a resale on an existing home. For a new construction the time frame from start to finish could take up to six month depending on floor plan, size, and location.
I suspect there will be a blitz of first-time Lakeland home buyers who are waiting until the last minute and that is when title companies, home inspectors, appraisers, not to mention lenders and underwriters could get swamped with files during November – don’t wait until it’s too late!
The IRS will only allow actual closing dates and does not allow “planned closing date”.
Interested in a home here in Lakeland, Florida? Begin your Lakeland home search today! Click on the “Search for Homes” icon below to see what Lakeland real estate options are in store for you!
Lakeland Florida Homes For Sale Weekly Update! There were 76 homes newly listed in Lakeland with an average sales price of $190,049 or $97.87 per square foot with area Realtors®, an increase of 11 homes listed from the previous week. While the total inventory remained steady in the previous week (2137 properties as of Friday, April 24th) in Lakeland, the types of homes being actively marketed changes daily according to the Multiple Listing Services (MLS).
Amongst the newly listed properties, here is a breakdown of each property category:
4 condos listed with an average sales price of $172,400
7 mobile homes listed with an average sales price of $70,800
1 townhome/villa with a sales price of $74,900
64 single family homes with an average price of $205,994
The priciest home that came newly on the market here in Lakeland, Florida is a 2008 custom built pool home, in the Highlands in the Woods subdivision; featuring 4 bedrooms and 3 baths with over 3,500 square feet of living space currently offered for $625,000. On the contrary, the cheapest home newly on the market is a 3 bedroom 1 bath Bank-Owned property listed for only $24,900 – under $25.00 per square foot – located in the Webster & Omohundro Subdivision.
The data for this report was obtained from the Mid-Florida Regional MLS, it is deemed reliable but not guaranteed. This report does not include “For Sale By Owner”.
Take a look at the breakdown by zip code:
33801 – 04 with an average sales price of $86,300
33803 – 11 with an average sales price of $195,554
33805 – 08 with an average sales price of $119,945
33809 – 08 with an average sales price of $226,887
33810 – 14 with an average sales price of $138,085
33811 – 07 with an average sales price of $187,214
33812 – 02 with an average sales price of $279,462
33813 – 20 with an average sales price of $265,767
33815 – 02 with an average sales price of $27,400
Weekly update on distressed properties in Lakeland
A total of 496 properties are currently facing foreclosure. There were 19 Lakeland homes newly listed in the distressed category with average prices of $146,639. Distressed homes are categorized as “Bank-Owned”, “Require 3rd party approval (Short Sale)”, “Pre-foreclosure”, and “In-Foreclosure”.
For more information on the location of the properties newly listed in Lakeland, pricing and size of the homes click on map picture which leads you to the interactive Community Walk map created by Chuck Welch of Lakeland Local.
Would you like to do your own search for properties? Look no further, click on the “Search for Homes” icon to start your Lakeland real estate search – or contact me directly at (863) 619-6918.
Lakeland “Swan” Derby in Lakeland Florida – A Free Community Event & Entertainment!
Dust off your hats….., bring your family and c’mon down to Lake Mirror in Lakeland Florida this Friday April 24, 2009 for the annual Lakeland Derby.
With this added excitement just one week prior to the Kentucky Derby, you are going to have a blast watching the “Maiden Handicap Race” at 5:00 p.m., followed by the… oh, you can’t miss the magnificent show of the “Derby Hat Contest” at 5:30 p.m., “Running of the Ducks” at 5:45 p.m., the “Parade to the Post” at 6:00 p.m., and last but not least “The Lakeland Derby”, a race of ten beautifully hand-crafted swan paddle boats racing for the prestigious winner’s trophy – What a memorable race to the finish line it was last year. All I can say – we had a blast!
Wait…that’s not all – Live Entertainment by the “Millhopper” at 7:30 p.m., children activities, barbeque, fish and dessert. A spectacular Fireworks show around 9:15 p.m. will conclude this free community event in Lakeland, Florida.
All proceeds will go to the Lakeland Volunteers in Medicine, a clinic that provides free medical care to the working uninsured of Polk County.
This question – why should I hire a buyer’s agent? – comes up more and more of home buyers, who consider hiring a Lakeland buyer’s agent. There are Lakeland, Florida home buyers, who say the following:
- I can search for homes on the internet, so why should I hire an agent.
- I can get home values on sites such as Zillow and Trulia, no need for a real estate agent.
- I can save thousands of dollars in commission, no buyer’s agent needed.
As an experienced Lakeland buyer’s agent I can do this and so much more:
I can search the Multiple Listings Database (MLS) and instantly sent you a notification of homes that came on the market, when price reductions occur, keep an eye on “For Sale By Owners”, expose you to more choices of homes other buyer’s agent may not be aware of, search the history of a home so you don’t have to waste hours of your valuable time.
Prepare a comparable market analysis (CMA) just for you, the home buyer, on properties of your interest with up-to-date information that you can’t get from Zillow or Trulia.
Complete the real estate sales contract and help with the negotiations based on market conditions, property conditions, any information I may find about the seller’s situation. Oversee deadlines and follow up with inspections, financing, title requirements, which can save you thousands of dollars.
You don’t want to make the same mistake like the seller in this news report, who was not represented by an experienced buyer’s agent.
This news report follows immediately after this short commercial.
Lakeland Florida Homes for Sale – Weekly Update! There were 65 homes newly listed in Lakeland with an average sales price of $163,277 or $89.92 per square foot with area Realtors®, not much of a change of homes listed from the previous week. While the total inventory (2130 properties as of Wednesday, April 15th) in Lakeland did not change from last week, the types of homes being actively marketed changes daily according to the Multiple Listing Services (MLS).
Amongst the newly listed properties, here is a breakdown of each property category:
6 condos listed with an average sales price of $183,233
10 mobile homes listed with an average sales price of $67,850
2 townhomes/villas with an average sales price of $116,250
47 single family homes with an average price of $183,034
The priciest home that came newly on the market here in Lakeland, Florida is a 2002 Mediterranean Pool Home, a former Parade Model Home, in the Eaglebrooke Golf Community; featuring 5 bedrooms and 4 ½ baths with almost 6,000 square feet of living space currently offered for $1,295,000. On the contrary, the cheapest home newly on the market is a 3 bedroom 2 bath Bank-Owned property listed for only $27,900 – under $27.00 per square foot – located in Lake Beulah Heights Subdivision.
The data for this report was obtained from the Mid-Florida Regional MLS, it is deemed reliable but not guaranteed. This report does not include “For Sale By Owner”.
Take a look at the breakdown by zip code:
33801 – 06 with an average sales price of $82,966
33803 – 09 with an average sales price of $158,933
33805 – 03 with an average sales price of $123,300
33809 – 08 with an average sales price of $147,650
33810 – 17 with an average sales price of $138,174
33811 – 04 with an average sales price of $135,225
33812 – 07 with an average sales price of $189,728
33813 – 10 with an average sales price of $288,785
33815 – 01 listed for a sales price of $27,900
Weekly update on distressed properties in Lakeland
A total of 489 properties are currently facing foreclosure. There were 20 Lakeland homes newly listed in the distressed category with an average price of $122,102 or $71.65 per square foot. Distressed homes are categorized as “Bank-Owned”, “Require 3rd party approval (Short Sale)”, “Pre-foreclosure”, and “In-Foreclosure”.
For more information on the location of the properties newly listed in Lakeland, pricing and size of the homes click on map picture which leads you to the interactive Community Walk map created by Chuck Welch of Lakeland Local.
Would you like to do your own search for properties? Look no further, click on the “Search for Homes” icon to start your Lakeland real estate search – or contact me directly at (863) 619-6918.
Let me share with you some positive signs in the Lakeland Real Estate market. First of all, since January there has been a constant, but moderate increase in the amount of homes sold and average home sold prices, which has echoed through March 2009.
While the average sales price of $135,889 ($71.51 per sq.ft.) for March fell 19% from the previous year, it showed a sensible increase of 2 ¼% from the previous month. There was also an increase in properties sold, 152 Lakeland properties were sold in March compared to 125 homes sold the previous month. The last time we have seen about that many homes sold in Lakeland was September 2008 – 157 homes sold to be exact.
What is selling in Lakeland?
It is still the same for the past few month, the distressed homes and more importantly the bank-owned (REO) properties dominate the sales activities here in Lakeland with 68 properties sold in March.
With close to 2485 properties currently for sale and pending, we are experiencing an 18 month of supply for the regular homes and distressed homes.
Let’s break it down for you to see the supply and demand for common properties for sale versus the distressed market.
Common properties only – Inventory active and pending 1815 homes resulting in 24 month of supply.
Distressed properties – Inventory active and pending 671 homes resulting in an 11 month supply.
Take a look at my spreadsheet below. I’ve separated the report by zip code instead of school zones; it gives you a more accurate report in my opinion. The data and graphs for this report was obtained from the Mid-Florida Regional MLS, it is deemed reliable but not guaranteed. This report does not include “For Sale By Owner”. The numbers highlighted in pink represents the zip codes where average sold prices have exceeded.
Which zip codes represents the most sales activities since January 2009?
Lakeland Market Report for Distressed Homes
Distressed properties are homes in pre-foreclosure, foreclosure, bank-owned, as well as short sales.
These types of homes continue to dominate our real estate market here in Lakeland Florida as well as throughout Polk County, so it is important for you to see what is driving down the home prices, but more importantly our home values.
Of the 152 homes sold last month in Lakeland, 68 distressed homes were sold with an average sales price of $115,009 ($61.87 per sq.ft.) compared to only 25 homes that were sold the previous year, due to Short Sales and/or Foreclosures. A side note for you, 51 out of 68 properties were bank-owned (REO) and these homes make up almost 50% in total sales in Lakeland, Florida.
There are currently 487 homes facing foreclosure.
184 homes are in pending status waiting for bank or lender approval to close.
So, are we out of the Woods yet?
Not so fast! Although buyers starting to jump over the fence, there is still fear, not necessarily about buying a home, but perspective buyers fearing job security and the economy itself. With increased home prices and home sales, the average sold price compared to the list price was only 92% and that was only the first quarter of the year; we still have three quarters left. Until sellers come to the realization that home prices are still in need to being adjusted the buyer is continuing to sit on the other side of the fence.
For more information on the location of these sold properties in Lakeland, price and size of the home click on map picture which leads you to the interactive Community Walk map created by Chuck Welch of Lakeland Local.
Let’s take a look at last month sold report for the surrounding cities in Polk County:
Winter Haven – 72 properties sold – average sold price $98,157 – average $58.49 per sq.ft.
Bartow – 13 properties sold – average sold price $114,181 average $61.81 per sq.ft.
Mulberry – 18 properties sold – average sold price $110,513 – average $59.19 per sq.ft.
Auburndale – 20 properties sold – average sold price $111,940 – average $69.38 per sq.ft.
Polk City – 8 properties sold – average sold price $124,687 – $81.99 per sq.ft.
Lake Alfred – 7 properties sold – average sold price $104,428 – $59.02 per sq.ft.
If you are interested in a specific area or neighborhood, feel free to contact me at petra@petranorris.com or click the search button below.
Lakeland Florida’s Harrsion School for the Arts is proud to present their musical revue of “Side by Side by Sondheim”
The Musical Theatre Department will showcase “Side By Side By Sondheim,” a dazzling revue from one of Broadway’s most gifted living composers. The New York Times called Stephen Sondheim “the greatest, perhaps best-known artist in the American musical theatre.” Audiences will remember why with “Side By Side By Sondheim”
Ah….Spring is the air and music is in my ear as I listen to some musical favorites, such as songs from “West Side Story” in the background while I’m writing this article for the upcoming performance of Harrison School for the Arts showcasing songs by this celebrated composer and lyricist Stephen Sondheim. Listening to his lyrics and music is great, but what a better way seeing his celebrated songs live on stage as “Side By Side By Sondheim” on the Harrison Main Stage from April 17 to 19 at Harrison School for the Arts Theater located at 750 Lakeland Hollingsworth Drive, Lakeland Florida 33801
PHOTO CAPTION: Caitlin Knowles, Mark Bacon, Amie Heinrich, Siobhan Gale, Zachary Richardson, and Brooke Adams (l to r) prepare for their performance in “Side By Side By Sondheim,” at Harrison School for the Arts, from April 17 to 19. (Photo by William Kimble.)
“For the students, understanding Sondheim’s challenging songs takes deep understanding,” states Director Joe Sniegocki. “In their youth, they have not experienced marriage, abandonment, or outliving one’s peers. Our singers approach each song as a pivotal moment in life.”
“Sondheim’s musical language best captures the mood of complicated characters,” adds Musical Director Chad Brady. “Singers and listeners alike can relate to these tense moments expressed through his intuitive music and lyrics.”
Here are some of the selections you’ll hear in this brilliant musical revue celebrating the songs of Broadway’s by Stephen Sondheim. Hear witty, romantic, perceptive songs drawn from “West Side Story,” “Gypsy,” “A Funny Thing Happened on the Way to the Forum,” “Company,” “Follies,” “A Little Night Music” and more.
The ensemble includes: Seniors – Brooke Adams, Roxanne Hartfield, Amie Heinrich, Caitlin Knowles, Dereck Seay, Erin Wall, and Lindsey Wildman; Juniors – Mark Bacon, Siobhan Gale, Van Den Hutchinson, Sara Machinia, Haley Miller, Zachary Richardson, Travis Sheppard, and Jonathan Thomas; and Sophomore – Keith Young.
The production crew includes: Stage Manager – Logan Pounders, Assistant Stage Manager – Audrey Hartfield, Assistant Director – Crystal Broedel, Assistant to the Music Director – Taryn Jones, with Costumes by Cecilia Ingram and Lighting Design by Brian Macke.
Tickets for the performances are $8 for adults, $6 for seniors and students. Tickets are available for purchase online at www.harrisonarts.com and will include a nominal merchant fee. Remember to bring your e-ticket to the event. Tickets are available at the door one hour prior to performance.
The Harrison Box Office will be open at 6:00 p.m. the evening of the performances. (863) 499-2939.
Mark your calendar for these upcoming performances of The Harrison Fine Arts Series for 2008/09:
- Chamber Music Concert @ Jenkins Recital Hall, Florida Southern College, Apr. 14.
- Reflections on the Ground, Visual Arts Exhibit & Reception, Mitchell Gallery, Apr. 17 – June 4.
- Side by Side by Sondheim, Apr. 17 – Apr. 19.
- Spring Dance Concert, May 1 & 2.
- Spring Orchestra Concert, May 14.
- Spring Music Concert, May 21.
Copyright © 2009 http://www.petranorris.com| All Rights Reserved |
Harrison School for the Arts – Musical Revue “Side by Side by Sondheim”
Licensed Florida Real Estate Broker
CDV TransAtlantic, Inc.
P.O. Box 92050 – Lakeland, FL 33804-2050
When it comes to Lakeland short sales, hiring a Realtor® is an absolute must, but not just any. I had an epiphany yesterday! Even after all this negative publicity in our housing market about foreclosures and short sales, a lot of Lakeland homeowners still don’t know anything about short sales.
If you are having trouble keeping up with your mortgage payments or already been late, due to loss of jobs, health issues, etc. but more importantly, before you sign a listing agreement with a real estate agent, let me suggest to you, “Who should you NOT hire as your Real Estate Agent?”
Short Sales have become by far the most extensive transaction in real estate that owners, real estate agents, and buyers are faced with. For homeowners, who are in dire need to sell their homes, they do the unthinkable and hire an agent to list the property so they just don’t have to deal with it no more. I am surprised by what reasons were for hiring an agent in the first place.
Follow these simple tips and I know you’ll be better off in the long run:
Don’t hire if…..
- An agent that tells you that he or she does not want to do short sales.
- An agent that talks bad about short sales.
- A relative or friend, who is an agent, but has never done short sales.
- An agent that doesn’t know what a short sale is.
- Your neighbor’s friend, who is an agent
Be proactive and instead seek a real estate agent, who can explain the short sale process to you and is experienced, diligent, confident and determined. Hire someone, who cares about you as a person, not just what’s in it for them. It’s that simple!
Copyright © 2009 http://www.petranorris.com| All Rights Reserved
Lakeland Florida Short Sale – Hiring a Realtor® and not just any Realtor® is a must!
Licensed Florida Real Estate Broker
CDV TransAtlantic, Inc.
P.O. Box 92050 – Lakeland, FL 33804-2050
Telephone (863) 618-6919
