Overall Polk County Existing Home Sales for February 2010
Polk County’s overall existing home sales increased and it goes along with what has been reported at state and national level with increased sales for February. However, prices continue to drift downwards blaming it widely on discounted distressed sales throughout.
596 existing homes sold – an increase of 19% from the previous month (500 sold homes) in Polk County and an increase in sales activity of 145 Polk County homes sold from the previous year of 451 homes sold.
Overall Polk’s median price for existing homes decreased by 12.5% from the previous month to $85,700 and respectively decreased 15% from the previous year.
Take a look at the city you live in and see what the numbers are for February 2010 for existing home sales – single family homes, condominiums, manufactured homes, duplex, villas, and townhomes -including distressed properties in Polk County. Please take note only sales recorded by Realtors® are taken into account. The source for this data is Mid-Florida Regional MLS Service, it is deemed reliable but not guaranteed.
City Average Sold Price Median Sold Price # of Homes Sold
| AUBURNDALE | 108,121 | 100,900 | 23 |
| BABSON PARK | 163,300 | 56,900 | 3 |
| BARTOW | 90,825 | 54,000 | 8 |
| CLERMONT | 59,250 | 63,750 | 4 |
| DAVENPORT | 123,762 | 110,000 | 134 |
| DUNDEE | 99,633 | 99,900 | 3 |
| EAGLE LAKE | 42,000 | 42,000 | 1 |
| FORT MEADE | 45,450 | 41,000 | 3 |
| FROSTPROOF | 73,317 | 73,500 | 3 |
| HAINES CITY | 95,050 | 80,000 | 36 |
| INDIAN LAKE ESTATES | 64,272 | 64,272 | 2 |
| KISSIMMEE | 83,272 | 75,500 | 17 |
| LAKE ALFRED | 72,546 | 61,000 | 12 |
| LAKE WALES | 80,143 | 62,500 | 28 |
| LAKELAND | 111,819 | 97,000 | 153 |
| MULBERRY | 120,003 | 127,000 | 17 |
| POINCIANA | 79,756 | 70,000 | 64 |
| POLK CITY | 133,359 | 119,950 | 6 |
| WINTER HAVEN | 110,239 | 84,900 | 79 |
Let me break down February 2010 Polk County existing homes sales into various categories:
- 514 Single family homes, townhomes, villas and ½ duplex – median sold price $99,000 – 147 Average Days to Closing
- 39 Condominiums – median sold price – $51,111 – 187 Average Days on Closing
- 43 Modular, manufactured/mobile homes in park/out of park – median sold price $55,000 – 233 Average Days on Closing
Let’s take a look at the distressed Polk County real estate market!
There were 232 existing homes sold, not categorized as distressed properties, at a median sold price of $111,000 with 200 average days to closing, which counted for almost 39% of our total sales. The distressed properties however; which includes Bank owned, pre-foreclosure, in foreclosure and short sales counted for 61% of our total sales in Polk County for the month of February.
- 283 sold homes were Bank Owned – median price $75,000 – Average Days to Closing 87
- 81 sold homes were Short Sales – median price $98,000 – Average Days to Closing 274
For your local market report and updates in Lakeland, please visit my blog at www.lakelandfloridaliving.com.
Update for the Lakeland FL Real Estate market! There are 1948 homes for sale throughout Lakeland, Florida – as of 03/26/10. Newly listed homes for the period of March 1st through March 15th increased to 178 Lakeland homes for sale. The average sales price of Lakeland homes listed with area Realtors® increased to $189,769 from my previous report.
The types of homes and average prices for sale in Lakeland, Florida according to the Multiple Listing Services (MLS) are as follows:
2 duplex units with a sales price of $87,450
10 condos listed with an average sales price of $105,450
20 mobile homes listed with an average sales price of $64,320
6 Townhomes/Villas listed with an average sales price of $83,967
140 single family homes with an average price of $194,923
Lakeland’s newest homes listed! The priciest home on the market in Lakeland is a 2006 pool home that features 4 bedrooms and 3 2½ baths with over 5,200 square feet of living space. This home is located in the Grassland community and is offered at $1,260,000. On the contrary, the cheapest Lakeland home newly listed is a bank owned 3 bedrooms 1 bath home listed for $27,000 – just under $22.00 per square foot – located in the Sunshine Estate subdivision.
All 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 – 16 with an average sales price of $82,706
33803 – 26 with an average sales price of $281,414
33805 – 13 with an average sales price of $124,092
33809 – 22 with an average sales price of $103,268
33810 – 35 with an average sales price of $146,213
33811 – 13 with an average sales price of $164,153
33812 – 13 with an average sales price of $194,396
33813 – 37 with an average sales price of $210,895
33815 – 03 with an average sales price of $82,330
Update on distressed homes in Lakeland
A total of 616 properties are currently actively being marketed that are facing foreclosure. There were 77 Lakeland homes newly listed in the distressed category with average prices of $119,736 or $70 per square foot. Distressed homes are categorized as “Bank-Owned”, “Require 3rd party approval (Short Sale)”, “Pre-foreclosure”, and “In-Foreclosure”.
March update on Lakeland real estate “Sold & Pending”
So far 153 Lakeland properties have sold that have been recorded in the Multiple Listing. Currently, there are 546 Lakeland homes have gone to “pending”, awaiting closing.
Lakeland Florida Short Sale and Foreclosure Housing Report for February 2010
For the month of February, Lakeland real estate market of short sales and bank-owned (REO) properties had a market share of 56%. There were a total of 86 properties sold in February, compared to 88 in January and 63 distressed Lakeland homes sold the year prior, according to Mid-Florida Regional MLS.
The Graph below compares sold homes in all categories – Traditional Sales (None Distressed), Bank Owned Properties (REO) and Lakeland Short Sales
Currently there are a total of 1,946 Lakeland homes for sale and 543 Lakeland homes under contract (03/22/2010). By calculating total inventory, homes that are under contract are included in my inventory share because these properties have not closed in which a buyer could walk away at any given time.
- Bank owned properties – Inventory share is 14.34%
- Short sale properties – Inventory share is 24.69%
The Graph below compares sold homes in all categories – Traditional Sales (None Distressed), Bank Owned Properties (REO) and Lakeland Short Sales
- Average days to contract for bank-owned properties are 53 days
- Average days to contract for other distressed properties are 219 days.
15 Short Sale Sold – average sold price $110,213 – median sold price $75,000
71 Bank-owned (REO) sold – average sold price $81,017 – median sold price $70,000
Distressed sales are scattered in all parts of Lakeland Florida as you can see from this graph below.
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.
Looking to take advantage of a Lakeland short sale, bank-owned, or otherwise distressed property? Consider a Lakeland FHA 203K streamline mortgage. It’s a great way to get a good value and some money to fix up your home as well. First and foremost, make sure you are working hand in hand with an experienced mortgage broker, who is knowledgeable about this program and goes over the costs, time and requirement with you in great detail.
Like many other areas of Florida, the Lakeland, Florida real estate market has been hit pretty hard by foreclosures, leaving many properties in the hands of Banks, which aren’t exactly known for their property management capabilities. As such, many Lakeland homes for sale as short sales, REOs, bank-owned properties and the like, though offered at a great value, are often in need of minor to moderate repair to be considered “move-in ready.”
I just sold a bank-owned home that was financed with a FHA 203k Streamline Mortgage with the maximum allowable rehab costs of $35,000 where I represented the buyer. It is not for the faint at heart, it requires organizational skills of the buyer and the buyer’s agent with coordinating the estimation for repairs with vendors who have to meet the FHA guidelines.
Living Room w/o flooring
Kitchen w/o cabinets and appliances
Master Bedroom - no flooring and mold
Master Bath - w/o cabinets - mirror and mold
Master Bedroom - no flooring and mold
Master Bath - w/o cabinets - mirror and mold
Enter the Lakeland FHA Streamline 203K mortgage…
The following Q &A on FHA 203K Streamline Mortgages should give you a general idea of how this home loan option can allow you to get into a distressed property at a good value and get up to $35,000 to fix up the property. You’ll be surprised at the repairs that qualify under the FHA Streamline 203k program.
Q: I’ve heard about FHA 203K Streamline loans, but what exactly are they and how do they work?
A: The FHA Streamline 203k mortgage allows home buyers to purchase properties in need of minor to moderate repair while factoring in some or all of the needed repair costs into the loan. As long as the repairs on your Lakeland home don’t exceed $35,000 (including fees) and are not structural in nature, you can “refurbish and rehab” the property with the costs built into your mortgage.
Q: Are there cases where the repairs you perform can exceed $35,000?
A: No- the streamline 203k is capped at $35,000 including any “soft costs.”
Q: What exactly are “soft costs?”
A: Soft costs are the those costs that don’t involve repair, but are necessary to close the loan. These include closing costs – including up to 2 inspection fees (approx $150/each). These costs also account for an appraiser compliance inspection report (roughly $125), as well as a supplemental origination fee (the greater of $350 or 1.5% of the rehab costs, and a contingency reserve of 10% – to be determined by the underwriter).
Q: What sort of downpayment will I need for an FHA 203K Streamline mortgage?
A: The regular FHA downpayment limit of 3.5% applies.
Q: Are there limits on the types of properties that qualify for this program?
A: Yes, the FHA Streamline 203K mortgage applies only to single family residences, condos, PUD’s and 2-4 unit properties.
Q: Can this program be used to build a new property?
A: No the property must be existing at least 1 year old to be eligible for the streamline 203k.
Q: Is it possible to use this loan on a property for which I will be considered a non occupying co borrower?
A: Yes – the credit piece of this loan is the same as an FHA 203b – standard FHA qualifying
Q: How long after closing will I have to complete the repairs on my Lakeland home?
A: Work on your property has to begin within 30 days of the loan closing, and must be completed no later than 6 months from when your loan has closed.
Q: Is it required that I occupy the home while repairs are completed?
A: You are not allowed to be displaced from the property for more than 30 days during the allowable 6 month rehab time.
Q: Am I allowed to do my own repairs on the streamline 203k?
A: Yes, but only if you are qualified – as in if you work in the construction business, are a licensed contractor, etc.) and you complete the self help forms.
Q: What are the contractor requirements for work being done on a 203K Streamline loan?
A: Contractors are to be licensed and bonded and will need to complete a W9 prior to closing.
Q: What if there are repair funds left over after the work has been done?
A: Any remaining money left over after the work is completed will be applied to your principal mortgage balance.
As I said, if you’re looking to take advantage of a bank-owned property that is in need of repair and need to factor your repair costs into the mortgage, the FHA 203K streamline mortgage program is a great option.
FOR IMMEDIATE RELEASE:
Contact: Petra Norris
Contact Person: Petra Norris
Company Name: CDV TransAtlantic, Inc.
Telephone Number: 863-619-6918
Email Address: petra@petranorris.com
Web site address: www.lakelandfloridaliving.com
Petra Norris Earns NAR Short Sales and Foreclosure Certification
Buyers and Sellers Benefit from REALTOR® Expertise in Distressed Sales
Lakeland – Florida, March 20, 2010
Petra Norris, Realtor®, managing Broker with CDV TransAtlantic, Inc Real Estate Brokerage has earned the nationally recognized Short Sales and Foreclosure Resource certification. The National Association of REALTORS® offers the SFR certification to REALTORS® who want to help both buyers and sellers navigate these complicated transactions, as demand for professional expertise with distressed sales grows.
Petra Norris has been helping homeowners negotiate short sales and buyers helping with the purchase of short sales and bank-owned properties (REO) in Florida, primarily in Polk County including cities, such as Lakeland, Auburndale, Bartow, Mulberry, Lake Alfred, Polk City, Highland City, Kathleen and Winter Haven. She is a member of the Lakeland Association of Realtors®, the Florida Association of Realtors®, and the National Association of Realtors®. You can contact her office at 863-619-6918 if you are having difficulties making your mortgage payment.
According to a recent NAR survey, nearly one-third of all existing homes sold recently were either short sales or foreclosures. For many real estate professionals, short sales and foreclosures are the new “traditional” transaction. REALTORS® who have earned the SFR certification know how to help sellers maneuver the complexities of short sales as well as help buyers pursue short sale and foreclosure opportunities.
“As leading advocates for homeownership, REALTORS® believe that any family that loses its home to foreclosure is one family too many, but unfortunately, there are situations in which people just cannot afford to keep their homes, and a foreclosure or a short sale results,” said 2009 NAR President Charles McMillan, a broker with Coldwell Banker Residential Brokerage in Dallas-Fort Worth. “Foreclosures and short sales can offer opportunities for home buyers and benefit the larger community, as well, but it’s extremely important to have the help of a real estate professional like a REALTOR® who has earned the SFR certification for these kinds of purchases.”
Contact: Petra Norris
Contact Person: Petra Norris
Company Name: CDV TransAtlantic, Inc.
Telephone Number: 863-619-6918
Email Address: petra@petranorris.com
Web site address: www.lakelandfloridaliving.com
CDV TransAtlantic, Inc. Real Estate Brokerage Lakeland Florida 33809
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In my last month Lakeland real estate market report, I asked the question, “Will the roller coaster ride continue in 2010?” Folks, brace for a nose dive! Although there were 152 Lakeland homes sold in February, average and median prices took a double digit steep decline. Distressed properties are still driving down market values with over 55% of market share.
Lakeland Homes sold in February: 152 - previous month: 145 – previous year February 09: 125 sold
February – average sales price $111,759
Previous month: $126,320 (- 11.53%) – previous year February 09: $132,802 (-15.85%)
February – median sales price $96,000
Previous month: $112,900 (-14.97%) – previous year February 09: $125,000 (23.2%)
The graph below represents average and median prices in Lakeland for various categories. When our media provides us with a real estate market reports, generally these reports outline only Single Family Homes and Condominiums. Lakeland Florida has a variety of homes, such as manufactured homes, townhomes, villas and duplex units.
What are the various average prices in each Lakeland zip code?
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 were 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.
Lakeland homes sold that are priced right will sell quickly. In my analysis of last month activity shows that home owners, who have marketed their properties at the right price, achieve better results in less time. Here is a breakdown:
- 0-30 days – 96.87% average sold price/list price ratio
- 31-60 days – 95.64% average sold price/list price ratio
- 61-90 days – 92.35% average sold price/list price ratio
- 91-120 days – 97.03% average sold price/list price ratio
- 121+ days – 91.10% average sold price/list price ratio
For more information on the location of these sold homes 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.
Distressed properties in Lakeland, Florida
For the month of February, Lakeland’s real estate market of distressed homes had a market share of 56%. There were a total of 85 properties sold in February, according to Mid-Florida Regional MLS.
Check back soon for February’s detailed Lakeland Florida real estate report that highlights bank-owned properties (REOs) and Lakeland Short Sales.
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.
To determine market value or as I would say the property assessment value the Polk County Property Appraiser uses to arrive when assessing your Polk County home for property tax purposes. The Polk County Property Appraiser establishes assessed value by knowing the selling price for similar properties and also takes other factors into consideration, such as:
- Comparative Value – homes sold recently in an arm’s length transaction
- Replacement Value – costs to replicate your Polk County home at current material prices and labor costs
- Methods of property use – Rental home
The Polk County Property Appraiser must find value for every piece in Polk County and all appraisals must be completed by January 1st of each year.
Are you in disagreement with the assessed property value of your Polk County home?
While not a requirement, you may have your assessed property value reviewed by going to the Polk County Property Appraiser’s office and discuss the matter with them in person, by phone or email. Be sure to bring all documents to proof your opinion. If the Property Appraiser’s office is unable to arrive at an agreement with you. Keep in mind, while you are discussing your valuation assessment with the Property Appraiser’s office, it certainly does not stop the expiration date of the deadlines.
You must file a “petition” in order to appeal before you can be heard by the Value Adjustment Board. Written applications must be filed with the Clerk of the Board of County Commissioners.
Timely Filing of Petition: Petitions related to valuation issues may be filed at any time during the taxable year on or before the 25th day following the mailing of the notice of proposed property taxes.
For more information please visit: http://www.polkpa.org/AssessmentInfo/Default.aspx
Bartow Office
255 N. Wilson Ave Phone: 863-534-4777
Bartow, FL 33830 Fax: 863-534-4753
Hours: 8:30am-5:00pm (M-F)
Lakeland Office
912 E. Parker St. Phone: 863-413-2549
Lakeland, FL 33801 Fax: 863-413-2550
Hours: 8:30am-5:00pm (M-F)
Winter Haven Office
3425 Lake Alfred Rd. Phone: 863-401-2424
3 Gill Jones Plaza Fax: 863-401-2428
Winter Haven, FL 33881 Hours: 8:00am-5:00pm (M-F)
Serving buyers and sellers throughout Polk County including cities of Lakeland, Auburndale, Polk City, Bartow, Winter Haven, Kathleen, Highland City, and Mulberry.
Search for Polk County Homes:
One of the most talked about subject you read or watch on television today is the housing crisis. Homeowners walking away from their homes they can no longer afford. Are distressed Lakeland homeowners making the right decision? As I was reading an article titled: “To walk or not to walk: underwater homeowners face dilemma”, I asked myself what I would do when faced with the decision of walking away.
The rise in foreclosure filings in Florida and around the country were first blamed on mortgage fraud and predatory lending practices. That is not the only case any longer. Here in Florida, especially in Polk County, folks are faced with lay off’s resulting in double digit unemployment rates and now folks who still have a job, like my husband are faced with less than 40 hours work week reducing their income by 20% or more.
My parents never owned a home and when my husband and I purchased our Lakeland home in 1993, it was our American dream. When we signed the promissory note that states: “I promise to pay” we and most homeowners here in the United States have good intentions to keep this promise. However, unexpected circumstances such as job loss, divorce, illness, reduced income, relocation, business failure or even death of a spouse can derail the promise once made.
I want to point out that I’m not an attorney and the tips outlined below are for informational purposes and not legal advice. Please seek the advice from a qualified finance, tax, and legal professionals.
I am a real estate agent in Lakeland, Florida working with homeowners every day who are faced with this dilemma educating myself regularly by taking classes, talking with fellow real estate agents and researching available options. I’m also a homeowner asking myself this very same question, “to walk or not to walk”.
Would I walk away?
Assuming there is a job loss or an enormous reduction in our income. I would not walk away from my home, at least not as a first step! I have to live somewhere. Making a budget should be the first thing a homeowner should do not only when faced with such a decision but on a regular basis. People are stunned when they discover they can have an extra $100-$200 a month by eliminating going out to dinner, reducing their cable bill, installing a few energy efficient items to reduce their light bill, and reducing their cell phone bill.
Walking away from your Lakeland home will result in foreclosure. It will definitely hurt your credit rating by as much as 200-300 points and you will not be able to get another mortgage for number of years.
What would I do?
First of all, each homeowner has to make the decision by themselves and at their own best interest and while each homeowner’s situation is different here are the steps I would take:
I would not ignore the letters from my lender – I would call them immediately explaining my situation and take notes of the conversation.
I would try to work out an arrangement with my lender – For example, forbearance may be considered by the lender, if a new job is in sight, upcoming bonus or a tax refund. Tell the lender about it and ask if you could make a partial payment, skip payments and tell them about your plan to catch up.
I would seek professional legal and financial advice – each homeowner’s situation is different and therefore I strongly recommend that you seek the counsel of an attorney and accountant experienced in foreclosure and bankruptcy.
If my lender would ignore, not communicate or decline my plea to a workout – I would try to sell my home as a Short Sale. While the time of a Short Sale on your Lakeland home process can be long and stressful and not a 100% guarantee for the homeowner and their family, the buyer and their Realtors®, Lakeland Short Sales do get approved!
Despite all of the suggestion you hear from relatives or friends, read in the newspaper and online or watch on television; it is ultimately your decision and should be based on educating yourself, your options and discussion with family members.
Would you walk away?
Lakeland Harrison School for the Arts presents “The Three Musketeers”
Did you miss this wonderful play of Micah Ariel James adaptations of Dumas’ renowned novel of “The Three Musketeers” this past weekend?
Great reviews of past performances! At last weekend’s almost sold out performances and raving reviews by patrons, you sure don’t want to miss this exciting production of “The Three Musketeers” that is being showcased by the Harrison School for the Arts’ talented group of theater students.
For another weekend, you are encouraged to see this performance in the new Black Box Theatre located on 750 Lakeland Hollingsworth Drive, Lakeland Florida 33801 on Friday, March 12th @ 7:30 p.m.; Saturday, March 13th @ 7:30 p.m. and Sunday matinee, March 14th, 2010 @ 2:00 p.m.
Under the direction of Ilene Fins, Dean of Harrison’s Theatre Department, “The Three Musketeers” explodes onto the Harrison stage with fast and furious duels in the dangerous streets of Paris! James’ version of this classic story follows the renowned adventures of country bumpkin d’Artagnan as he seeks entry into the prestigious King’s Musketeers. Together they fight with courage to combat the malicious cardinal and save France.
“All for One and One for All!” Chock full of political intrigue, romance and exciting sword battles, this world premiere is not to be missed. En garde!
The troupe is lead by Britt Michael Gordon as d’Artagnan, Corinne Townsend as Aramis, Lance Taylor as Porthos, Amelia Marler as Athos, Demonte Cheeks as Treville, Justin Nipper as Bonacieux, Katie Ward as the Queen, Erika Williams as DeWinter, Jenna Creamer as Rochefort, Kevin List as the King, Chris Holseth as the Cardinal, Brooke Dixon as Constance,and Nicole Richard as the Innkeeper, with Courtney Lang, Beth Rousseau, Camila Araujo, and Annie Jaynes as the Fight Corps.
Seating is very limited and I encourage buying tickets online at www.harrisonarts.com
Pictures are courtesy of Andy Glowgower of Andy Glowgower Photography
Mark your calendar for these upcoming performances of The Harrison Fine Arts Series for 2009/10:
The Three Musketeers
Friday, March 12, 2010 – Saturday, March 13, 2010 at 7:30 PM in the Black Box Theatre
Sunday, March 14, at 2:00 PM
Harrison Wind Ensemble Concert – Tuesday, March 16, 2010 at 7:30 PM
Chamber Music Concert – Thursday, March 25, 2010 at 7:30 PM
Piano Concert – Thursday, April 08, 2010 at 7:30 PM
A Funny Thing Happened on the Way to the Forum
Friday, April 23, 2010 – Saturday, April 24, 2010 at 7:30 PM
Sunday, April 25, at 2:00 PM
Idealistic Notions, Professional Visual Arts Exhibit
Friday, April 23, 2010 – Wednesday, June 09, 2010
Reception at 6:00 PM
String Orchestra Concert – Monday, April 26, 2010 First United Methodist Church, Lakeland at 7:30 PM
Spring Dance Concert – Friday, May 07, 2010 – Saturday, May 08, 2010 at 7:30 PM
Symphony Orchestra Concert – Thursday, May 13, 2010 at 7:30 PM
Update for the Lakeland FL Real Estate market! There are 1912 homes for sale throughout Lakeland, Florida – as of 03/09/10. The inventory of Lakeland homes for sale in the past few months hovers around 1900. Newly listed homes for the period of February 16th through February 28th decreased to 135 Lakeland homes for sale. The average sales price of Lakeland homes listed with area Realtors® increased to $165,281 from my previous report.
The types of homes and average prices for sale in Lakeland, Florida according to the Multiple Listing Services (MLS) are as follows:
4 duplex units with a sales price of $138,425
4 condos listed with an average sales price of $61,325
10 mobile homes listed with an average sales price of $56,310
4Townhomes/Villas listed with an average sales price of $177,587
113 single family homes with an average price of $179,119
Lakeland’s newest homes listed! The priciest home on the market in Lakeland is a 2006 Hulbert custom built estate with pool features 5 bedrooms and 4 2½ baths with over 5,100 square feet of living space. This home is located in the Christina community and is offered at $1,899,000. On the contrary, the cheapest Lakeland home newly listed is a bank owned 3 bedrooms 2baths home listed for $16,400 – just over $12.00 per square foot – located in the Albert Park subdivision.
All 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 – 14 with an average sales price of $93,598
33803 – 16 with an average sales price of $201,297
33805 – 11 with an average sales price of $88,218
33809 – 12 with an average sales price of $170,942
33810 – 31 with an average sales price of $107,023
33811 – 10 with an average sales price of $173,500
33812 – 06 with an average sales price of $219,667
33813 – 31 with an average sales price of $265,574
33815 – 04 with an average sales price of $39,152
Update on distressed homes in Lakeland
A total of 599 properties are currently actively being marketed that are facing foreclosure. There were 55 Lakeland homes newly listed in the distressed category with average prices of $101,305 or $61 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 these sold homes 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.
February update on Lakeland real estate “Sold & Pending”
So far 146 Lakeland properties have sold that have been recorded in the Multiple Listing. Currently, there are 533 Lakeland homes have gone to “pending”, awaiting closing.
Check back soon for your Lakeland Real Estate Market Report for February 2010!
