Buy Your Lakeland, Florida Home Today!
I remember when my husband and I bought our home here in Lakeland, Florida. Our interest rate back in 1993 was 7.5% fixed for 30 years, with excellent credit. Back then, this rate was a very good rate, since I knew from years before, the interest rate was well above 10%.
Today’s 30 yr. fixed mortgage rate is approximately 5.07% and for a 15 yr. fixed mortgage the rate is around 4.36% according to bankrate.com – 3/15/2010.
With home prices still falling and inventory at an all time high, it is definitely a buyer’s market. Polk County has currently over 6200 properties for sale; Lakeland has almost 1900 properties listed with Realtors®. I have also noticed that 2009 average and median home prices in Lakeland shrunk below 2004 level.
If you consider buying a home, the first and foremost you should do, is hire an experienced Realtor®. At the same time, obtain financing approval ahead of time. Many banks have tightened their lending standards.
Research your area of interest and have your Realtor® thoroughly research the prices before making an offer. Even tough you have plenty of choices; desirable homes do get multiple offers. Be prepared, otherwise you could loose out.
Purchasing a home that is a Short Sales and/or Foreclosures can be challenging and risky at times, research and due diligence of your Realtor® is essential in buying successful. Most importantly patience on both sides of the transaction is necessary; it can take months for such sale to be completed. Ownership is a place to call home; a place where family built a future and become part of the community.