Lakeland Real Estate Update – 04/01/10-04/15/10

Update for the Lakeland FL real estate market!  Newly listed homes for the period of April 1^st through April 15^th decreased to 187 Lakeland homes for sale. The average sales price of Lakeland homes listed with area Realtors® decreased to $170,560 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:

6 condos listed with an average sales price of $147,283

17 mobile homes listed with an average sales price of $69,494

8 Townhomes/Villas listed with an average sales price of $117,663

157 single family homes with an average price of $184,989

Lakeland’s newest homes listed! The priciest home just listed in North Lakeland is a 2009 custom pool home that features 4 bedrooms and 6 baths with over 5,500 square feet of living space. This home is located in the Cypress Trace Estates gated community and is offered at $1,999,000.  On the contrary, the cheapest Lakeland home newly listed is a bank owned 3 bedrooms 2 baths home listed for $14,900 – just under $13.00 per square foot – located in the Crystal Acres Estates 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 – 22 with an average sales price of $97,286

33803 – 26 with an average sales price of $225,738

33805 – 10 with an average sales price of $112,570

33809 – 23 with an average sales price of $239,626

33810 – 43 with an average sales price of $120,100

33811 – 18 with an average sales price of $172,305

33812 – 07 with an average sales price of $217,229

33813 – 33 with an average sales price of $216,000

33815 – 05 with an average sales price of $66,760

Update on distressed homes in Lakeland

A total of 613 Lakeland homes are currently actively being marketed that are facing foreclosure. There were 70 Lakeland properties newly listed in the distressed category with average prices of $105,854 or $62.59 per square foot. Distressed homes are categorized as “Bank-Owned”, “Require 3^rd party approval (Short Sale)”, “Pre-foreclosure”, and “In-Foreclosure”.

April update on “Sold & Pending” for Lakeland real estate

So far 70 Lakeland properties have sold that have been recorded in the Multiple Listing. Currently, there are 549 Lakeland homes have gone to “pending”, awaiting closing.

Lakeland Real Estate Update – 03/16/10-03/31/10

Update for the Lakeland FL real estate market! There are 1968 homes for sale throughout Lakeland, Florida – as of 04/16/10. Newly listed homes for the period of March 16th through March 31st increased to 202 Lakeland homes for sale. The average sales price of Lakeland homes listed with area Realtors® decreased to $176,471.18 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:

6 duplex units with a sales price of $58,267

8 condos listed with an average sales price of $121,312

20 mobile homes listed with an average sales price of $71,305

8 Townhomes/Villas listed with an average sales price of $79,237

170 single family homes with an average price of $200,187

Lakeland’s newest homes listed! The priciest home on the market in Lakeland is a 2001 custom built pool home with a view of Scott Lake that features 6 bedrooms and 5 baths with over 5,300 square feet of living space. This home is located in the Lake Point South community and is offered at $1,350,000.  On the contrary, the cheapest Lakeland home newly listed is a bank owned 3 bedrooms 2 baths home listed for $19,900 – just over $13.00 per square foot – located in the Adairs 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 – 18 with an average sales price of $76,583

33803 – 28 with an average sales price of $202,361

33805 – 13 with an average sales price of $70,469

33809 – 33 with an average sales price of $178,414

33810 – 46 with an average sales price of $122,624

33811 – 14 with an average sales price of $153,554

33812 – 08 with an average sales price of $247,425

33813 – 46 with an average sales price of $294,304

33815 – 06 with an average sales price of $42,617

234 Lakeland homes have sold in April with an average sales price of $115,000

Check back soon for your Lakeland real estate Market Report for April 2010!

Lakeland Real Estate Update – 03/01/10-03/15/10

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 1^st through March 15^th 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 3^rd 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 Real Estate Update – Homes Sales for February 2010

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.

Lakeland Real Estate Update on Sold Homes in January 2010

A stable Lakeland real estate Market is a key factor for the housing market to rebound.  For the month of January a total of 145 homes were sold overall.  Last year’s overall Lakeland Florida Real Estate market was somewhat of a roller coaster ride with home prices up and down throughout the year.  Will the roller coaster ride continue in 2010? From the graph below you can see that average Lakeland home prices have increased since October 2009 by almost 9%.

Lakeland Homes sold in January: 145 – previous month:  194 – previous year January 09: 115 sold

January – average sales price $126,320

Previous month: $123,866 (+ 2%) – previous year January 09: $130,334 (-3.08%)

January – median sales price $112,900

Previous month: $113,950 (-0.92%) – previous year January 09: $96,000 (17.6%)

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 are having their properties marketed at the right price, achieve 97% of their list price.  Here is a breakdown:

• 0-30 days – 96.92% average sold price/list price ratio
• 31-60 days – 98.22% average sold price/list price ratio
• 61-90 days – 95.4% average sold price/list price ratio
• 91-120 days – 93.23% average sold price/list price ratio
• 121+ days – 92.28% 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 January, Lakeland’s real estate market of distressed homes and bank-owned (REO) properties had a market share of 60%. There were a total of 88 properties sold in January compared to 60 distressed Lakeland homes sold the year prior, according to Mid-Florida Regional MLS. After further evaluation of my Lakeland Real Estate Market and to my readers who follow the distressed market report closely deserve clarity.  Starting out with January’s Real Estate Report, the distressed market report will have its own report.  Please check back soon for your 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.

Lakeland Florida Free Entertainment – Annual Tiger Town Pig Festival January 29-30, 2010

Hi folks! It is time for our annual Tiger Town Pig Festival next to Joker Marchant Stadium in Lakeland Florida. At this free event, yes free and even parking is free, you will find the best barbeque around – every taste buds will be mesmerized by the variety of finger lickin’ barbeque with all sorts of variety.

In its 14^th year, Lakeland Pig Fest is well known for its barbeque competition enticing professional barbeque teams to travel to our beautiful city and compete in four categories: Ribs, Chicken, Pork and Brisket. Of course they are interested in the $10,000 in prize money and the $1000.00 Big Green Egg Prize Package.

Gates open on Friday, January 29, 2010 at 5:00 p.m. with live music on the mainstage performed by Bitter Edge followed by Damon Fowler.

The gates open on Saturday, January 30th at 10:00 a.m. for some barbeque braggin’ rights competition.

On both days there is plenty of entertainment for the whole family to enjoy including: NASCAR Simulators, Interactive Children’s area, Live Music, Tasting Opportunities and some world class barbeque.

A tad bit of history lesson! It started all in 1994 when a small group of local businessmen attended the Blue Ridge Mountain town of Tyron, N.C. to watch a barbeque championship. From then on, a festival committee was established and Lakeland’s Pig Festival welcomed its first barbeque competitors in 1997. Since then, professional teams and backyard teams travel great distances to compete separate in now five different categories in Ribs (loin and spare), Pork (shoulder and butt), Chicken, Brisket (beef) and Sauce. The Kansas City Barbeque Society (KCBS) Professional Competition and Judging School considers Lakeland’s Pig Fest to be one of the finest events sanctioned by KCBS.  Lakeland’s annual  Pig Fest held at Joker Marchant Stadium has since then grown to over 300 Barbeque Teams competing for prize money and attendance growing quickly each year.

The Junior League of Greater Lakeland became in 2005 the lead organizer for this great event and they do an outstanding job providing volunteers to see that this free event is run smoothly. The event in itself is free, such as the concerts – as you walk towards the gate, let me suggest you buy “Pig Dollars” near the entrance for food and drinks and also some for your kids, since I’m sure they want to take part in arts & crafts, climbing and jumping. Don’t worry if you run out of the “Pig Dollars or “Pig Bucks”, there are various locations throughout the area for you to buy more.

Lakeland Real Estate Update – 12/16-12/31/09

Update for the Lakeland real estate market! Currently, there are 1878 homes for sale throughout Lakeland – as of 01/08/10. Newly listed homes for the period of December 16^th through December 31^st totaled 121 Lakeland homes recently came on the market. The average sales price of Lakeland homes listed with area Realtors® for decreased to $197,553 from my previous report.

The types of homes and average prices just listed in Lakeland, Florida according to the Multiple Listing Services (MLS) are as follows:

4 condos listed with an average sales price of $81,175

10 mobile homes listed with an average sales price of $64,720

1 Townhomes/Villas listed for $64,900

106 single family homes with an average price of $171,831

Lakeland’s newest homes listed! The priciest Lakeland real estate is a 2006 pool home; featuring 4 bedrooms and 4 ½  baths with over 3,700 square feet of living space currently offered for $750,000 located in the Grandview Landings.  On the contrary, the cheapest Lakeland home newly listed is a bank owned 2 bedrooms 1 bath property listed for $16,900 – just over $20.00 per square foot – located in the Winston Heights 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 – 13 with an average sales price of $73,750

33803 –10 with an average sales price of $232,710

33805 – 06 with an average sales price of $78,450

33809 – 11 with an average sales price of $169,063

33810 – 35 with an average sales price of $154,603

33811 – 17 with an average sales price of $179,220

33812 – 05 with an average sales price of $117,460

33813 – 22 with an average sales price of $199,572

33815 – 02 with an average sales price of $99,450

Update on distressed homes in Lakeland

A total of 550 properties are currently actively being marketed that are facing foreclosure. There were 60 Lakeland homes newly listed in the distressed category with average prices of $116,479 or $66.69 per square foot. Distressed homes are categorized as “Bank-Owned”, “Require 3^rd party approval (Short Sale)”, “Pre-foreclosure”, and “In-Foreclosure”.

December was a record breaking month – update on Lakeland Real Estate that have sold

December proved to be the best month for 2009 for the Lakeland real estate market in terms of the number of Lakeland Homes sold. There were 192 Lakeland homes sold so far reported with an average price of $123,943. Look for December’s detailed market report on my blog – coming soon. Lakeland Real Estate under contract but have not closed (Pending) Lakeland homes that are in pending status are at 424.

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 Real Estate Market Update – 12/01-12/15/09

Update for the Lakeland real estate market! Currently, there are 1901 homes for sale throughout Lakeland – as of 12/21/09. Newly listed homes for the period of December 1^st through December 15^th totaled 126 Lakeland homes recently came on the market. A 16% increase from the my previous report. The average sales price of Lakeland homes listed with area Realtors® increased to $200,409.

The types of homes and average prices just listed in Lakeland, Florida according to the Multiple Listing Services (MLS) are as follows:

1 duplex listed for $119,900

4 condos listed with an average sales price of $119,925

16 mobile homes listed with an average sales price of $79,284

1 Townhomes/Villas listed for $49,500

104 single family homes with an average price of $174,525

Lakeland’s newest homes listed! The priciest Lakeland real estate is a 1999 pool home; featuring 4 bedrooms and 4 ½  baths with 5,500 square feet of living space currently offered for $1,100,000 located in the Christina Community.  On the contrary, the cheapest Lakeland home newly listed is a bank owned 3 bedroom 1 baths property listed for only $9,000 – just over $6.00 per square foot – located in the Richlawn subdivision and is in fact the cheapest home.

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 $56,185

33803 –23 with an average sales price of $186,178

33805 – 09 with an average sales price of $87,888

33809 – 10 with an average sales price of $130,425

33810 – 21 with an average sales price of $110,200

33811 – 13 with an average sales price of $200,169

33812 – 07 with an average sales price of $179,400

33813 – 25 with an average sales price of $260,785

33815 – 04 with an average sales price of $53,025

Update on distressed homes in Lakeland

A total of 539 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 $111,484 or $68.33 per square foot. Distressed homes are categorized as “Bank-Owned”, “Require 3^rd party approval (Short Sale)”, “Pre-foreclosure”, and “In-Foreclosure”.

Update on Lakeland Real Estate that have sold

For the period of December 1^st through December 15^th there have been 80 Lakeland homes sold so far reported with an average price of $126,137.  Lakeland Real Estate under contract but have not closed (Pending) Lakeland homes that are in pending status are at 460.

For more information on the location of these newly listed 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.

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 Real Estate Market Report for November 2009

Despite Polk County’s unemployment numbers in the double digits, Lakeland Florida real estate sales activity continued strong for the month of November.

Lakeland Homes sold in November: 174 – previous month:  177 – previous year November 08: 106 sold

Which zip codes represents the most sales activities since January 2009?

Lakeland	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Grand Total
33801	20	12	15	21	13	16	17	12	20	27	20	193
33803	11	10	16	18	16	19	26	19	22	25	20	202
33805	12	11	12	9	5	10	14	14	8	14	12	121
33809	13	12	16	11	18	17	16	17	25	17	21	183
33810	25	31	34	31	46	37	40	33	42	46	43	408
33811	10	16	17	18	18	22	20	15	22	15	18	191
33812	10	5	8	13	7	9	16	15	10	9	13	115
33813	9	25	27	28	26	33	35	38	29	22	24	296
33815	5	3	7	5	7	6	4	3	5	2	3	50
Grand Total	115	125	152	154	156	169	188	166	183	177	174	1759

November – average sales price $122,590

Previous month: $115,952 (+ 5.7%) – previous year November 08: $159,241(-23%)

November – median sales price $119,000

Previous month: $107,000 (+11%) – previous year November 08: $142,500 (-16.5%)

The graph below represents average and median prices in Lakeland for various categories.

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.

Distressed properties in Lakeland, Florida

For the month of November, Lakeland’s real estate market of distressed homes and bank-owned (REO) properties had a market share of 53%. There were a total of 92 properties sold in November compared to 36 distressed Lakeland homes sold the year prior, according to Mid-Florida Regional MLS.

Average days on market (DOM) for bank-owned properties are 60 days

Average days on market (DOM) for other distressed properties are 158 days.

29 Distressed Homes Sold – average sold price $124,506 – median sold price $115,000

63 Bank-owned (REO) sold – average sold price $89,084 – median sold price $75,000

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.

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.

Minutes from Lakeland, the Fantasy of Flight Air Museum is a Must See for Aviation Buffs

One of the things people love most about the Lakeland, Florida area is the wonderfully temperate climate we experience here – nearly year ’round. The clear, blue skies and warm temperatures make for terrific vacations, and they’re even more enjoyable for those who decide to make this part of Florida their home.

Of course, such premium weather conditions are also terrific for flying, and the Lakeland area is blessed to have nearby one of the nation’s best air museums – Fantasy of Flight – located in Polk City, Florida.

Located just a brief distance down I-4 from the downtown Lakeland area, Fantasy of Flight was Founded by Kermit Weeks, who established this vintage airplane museum as a natural extension of his lifelong passion for aviation and aircraft.

Fantasy of Flight provides Lakeland residents and visitors to the area with a chance to experience one of the world’s greatest collection of fighter planes,  a first-class airplane restoration operation, and museum of aircraft history.

What makes this air museum really special is that many of the airplanes Kermit has restored are actually in perfect working order.  In fact, Kermit even sets up flying time in some of these planes – including a vintage bi-wing barnstorming plane -  for a reasonable fee.

So What Types of Planes Can You See at Fantasy of Flight?

Kermit has brought together a fine collection of vintage airplanes.  A few you may see while on a visit to this aviation theme park include:

• North American P-51C Mustang
• Boeing B-17 Flying Fortress
• Mitsubishi A6M5 Zero
• Supermarine Spitfire MK16
• Valkyrie

Friends of ours who served in the military and visit Fantasy of Flight are often amazed when they see these class air machines up close.  As Florida is a favored destination for retirees, a trip to see these historic airplanes may come up once in a lifetime. One thing is for sure, both casual visitors and serious aviation history buffs will agree that Fantasy of Flight is a must see Lakeland area attraction.

General Information for Fantasy of Flight

Hours of Operation:

Fantasy of Flight is open 10 am – 5 pm daily, excluding Thanksgiving & Christmas.

Phone: (863) 984-3500

Address:

1400 Broadway Blvd. S.E.
Polk City, FL 33868

Directions:

From Orlando/East/North

Go West on I-4 towards Tampa. Take the SR-559 exit – exit #44. Turn right toward Polk City & Fantasy of Flight. At the flashing red light, turn left. FOF will be less than a 1/4 mile down on your left.

From Tampa/West/South

Go East on I-4 towards Orlando. Take the SR-559 exit – exit #44. Turn left toward Polk City & Fantasy of Flight. At the flashing red light, turn left. FOF will be less than a 1/4 mile down on your left.

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