Lakeland FL Short Sale and Foreclosure Market Report – September 2011
For the month of September, the Lakeland real estate market of short sales and bank-owned (REO) properties has declined. There were a total of only 86 distressed homes sold that were in some kind of distress, compared to the 107 homes the previous month and 132 home the previous year.
Current inventory for Lakeland foreclosures as of 10/30/11 is at 83, while 74 homes currently are under contract and awaiting closing.
What are the price ranges, buyers and investors are most interested?
Lakeland Foreclosures Market Report
$49,999 or under – 16 homes
$50,000 – $99,999 – 14 homes
$100,000 – $149,999 – 8 homes
$150,000 – $199,999 – 1 homes
$200,000 – $249,999 – 2 home
$250,000 – $259,999 – 1 home
Current inventory for Lakeland Short Sales as of 10/30/11 is at 348 homes, while 325 homes are under contract and waiting to close.
Lakeland Short Sales Market Report
$49,999 or under – 7 homes
$50,000 – $99,999 – 20 homes
$100,000 – $149,999 – 12 homes
$150,000 – $199,999 – 4 homes
$250,000 – $259,999 – 1 home
The Graph below compares sold homes in all categories – Traditional Sales (None Distressed), Lakeland Foreclosures (REO) and Lakeland Short Sales.
Average days to Closing for bank-owned properties are 137 days
Average days to Closing for other distressed properties are 236 days.
44 Lakeland FL Short Sale properties sold – average soldprice$95,053 – median sold price $91,600.
42 Lakeland FL Foreclosures (REO) sold – average sold price $77,082 – median sold price $63,500.
Low Lakeland foreclosure inventory may be the answer for you if you are contemplating short sales and your family and friends telling you that buyers only work the foreclosure. Don’t be fooled, putting your home on the market as a short sale may be your best option and buyers who are frustrated in the bidding war against investors are willing to look at buying short sales.
Don’t let time be against you. Don’t be foreclosed. Call your Lakeland FL Short Sale Agent - Petra Norris at (863) 619-6918 and find out about our options.
Lakeland Florida Short Sale and Foreclosure Market Report – June 2010
For the month of June, the Lakeland real estate market of short sales and bank-owned (REO) properties had a market share of 54%. There were a total of 117 properties sold in May, compared to 127 in May and 61 distressed Lakeland homes sold the year prior, according to Mid-Florida Regional MLS.
Currently there are a total of 2,011 Lakeland homes for sale and 495 Lakeland homes under contract (07/24/2010). By calculating total inventory, homes that are under contract which 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 15.88%
- Short sale properties – Inventory share is 26.50%
The Graph below compares sold homes in all categories – Traditional Sales (None Distressed), Bank Owned Properties (REO) and Lakeland Short Sales
- Average days to Closing for bank-owned properties are 86 days
- Average days to Closing for other distressed properties are 296 days.
- 31 Lakeland Short Sale homes sold – average sold price $111,594 – median sold price $110,000
- 86 Lakeland Bank-owned (REO) homes sold – average sold price $86,130 – median sold price $80,000.
Looking for a great deal on Lakeland Short Sales and Lakeland foreclosures, feel free to contact me at petra@petranorris.com or click the search button below.
For the month of April, Lakeland real estate market of short sales and bank-owned (REO) properties had a market share of 60%. There were a total of 148 properties sold in April, compared to 126 in March and 82 distressed Lakeland homes sold the year prior, according to Mid-Florida Regional MLS.
Currently there are a total of 1,910 Lakeland homes for sale and 547 Lakeland homes under contract (05/27/2010). By calculating total inventory, homes that are under contract which 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 13.76%
- Short sale properties – Inventory share is 25.68%
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 56 days
- Average days to contract for other distressed properties are 192 days.
35 Short Sale Sold – average sold price $128,294 – median sold price $135,000 113 Bank-owned (REO) sold – average sold price $82,026 – median sold price $61,000
Looking for a great deal on Lakeland Short Sales and Lakeland foreclosures, feel free to contact me at petra@petranorris.com or click the search button below.
Foreclosure & Short Sales Properties Search
For the month of March, Lakeland real estate market of short sales and bank-owned (REO) properties had a market share of 54%. There were a total of 126 properties sold in March, compared to 86 in February and 68 distressed Lakeland homes sold the year prior, according to Mid-Florida Regional MLS.
Currently there are a total of 1,945 Lakeland homes for sale and 566 Lakeland homes under contract (04/27/2010). By calculating total inventory, homes that are under contract which 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 13.50%
- Short sale properties – Inventory share is 24.81%
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 51 days
- Average days to contract for other distressed properties are 179 days.
- 35 Short Sale Sold – average sold price $117,486 – median sold price $106,500
- 91 Bank-owned (REO) sold – average sold price $90,390 – median sold price $80,000
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 to search for distressed Lakeland properties.
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.
The foreclosure and short sale market has affected all of us here in Lakeland, Florida with the ever decreasing home values in most neighborhoods if not all neighborhoods in our city. High unemployment rates, influx in foreclosed properties for the foreseeable future and shadow inventory that has yet to hit the real estate market. Therefore highlighting the Lakeland foreclosures and short sale market for sellers, home buyers and investors is very important in determining their options whether buying or selling.
Starting with this month Lakeland Florida Short Sale and Foreclosure market report, the distressed market report will have its own report.
For the month of January, Lakeland’s real estate market of short sales 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.
Currently there are a total of 1,910 Lakeland homes for sale and 498 Lakeland homes under contract (02/18/2010). By calculating total inventory, homes that are under contract because these properties have not closed is included in my inventory share.
- Bank owned properties – Inventory share is 12.17%
- Short sale properties – Inventory share is 25.42%
The Graph below compares sold homes in all categories – Traditional Sales (None Distressed), Bank Owned Properties (REO) and Lakeland Short Sales
- Average days on market (DOM) for bank-owned properties are 45 days
- Average days to contract for other distressed properties are 136 days.
25 Distressed Homes Sold – average sold price $146,724 – median sold price $139,900
63 Bank-owned (REO) sold – average sold price $88,319 – median sold price $81,000
Distressed sales are scattered in all parts of Lakeland Florida as you can see from this graph below.
If you are interested in Lakeland Foreclosures and Short Sales, feel free to contact me at petra@petranorris.com or click the search button below.
Every buyer I talk to and represent want to get a great deal when purchasing a Lakeland Foreclosure. Lakeland real estate in foreclosure are the best deal on the market, however, be prepared to pay full price.
Buyers still think that they can make low ball offers on bank-owned properties and go against what Lakeland FL Realtor’s professional advise. Believe me when I share with you my market report for Lakeland Foreclosure and tell you that the listing price may not be sufficient to get your offer accepted. You want the best deal and I want to get you the best deal, but keep in mind when great deals are out there, more and more there are more buyers for one Lakeland Real Estate, which results into a bidding contest.
Here is the proof! Since October 1st, 2009 – 19 single family homes (bank-owned) in Lakeland built in 2000 and after sold for 99% of Listing Price vs. Sales Price (LP/SP).
Looking for a great deal on distressed properties, such as Lakeland Short Sales, Lakeland Pre-Foreclosures and Lakeland Foreclosures, then look no further.
