Lakeland Florida Living

Retiring from Active Duty Military or Relocate to MacDill, AFB – Tampa, FL?

2010-07-28T19:03:39Z

Just recently I sold a home in Lakeland, FL to an active duty military member who is relocating to MacDill AFB – Tampa, FL. Why in the world they chose Lakeland over Tampa you might ask? The drive alone from Lakeland to MacDill is about 40-50 minutes depending on traffic.

The single answer is location, location, location…..

You see, they thought way ahead of their time, where do I want to raise my family or where do I want to retire and live comfortable? Military members and their family are known to sacrifices. The separation from their families while deployed in another country, another state is in my humble opinion one of their challenging sacrifices military families share every day. When it comes time to retire or to relocate and where the duty station may be at MacDill AFB, or even Ft. Benning, GA – my husband’s last duty station, many feel they want to get away from a military base but still want to be within driving distance for shopping, amenities and activities, such as the annual military air show. It is a no brainer for a soon to be retiring active duty military member to make the driving sacrifice.

While Lakeland FL with it small city feel, it is smack dab in the middle and convenient to all major attractions and white sandy beaches.

Guaranteed Veterans Administration Loan Program allows Active Duty Military Members and Veterans receive 100% financing with a maximum loan limit for $417,000 in Lakeland FL. You can buy a very nice home considering the loan limits and comparing recent home prices here in Lakeland, FL

Lakeland has very affordable home prices compared to Tampa, FL or Orlando, FL

Lakeland, FL – average home prices for single family homes in June 2010 was $125,040

Tampa, FL – average home prices for single family homes in June 2010 was $205,140

Orlando, FL – average home prices for single family homes in June 2010 was $169,711

Thinking about retiring or relocating close to a military base? Consider Lakeland Florida in your next home search, it is all right here with the click of your mouse – just click away!

Lakeland FL Short Sale and Foreclosure Housing Report – June 2010

2010-07-26T00:03:46Z

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.

Lakeland FL Real Estate Home Sales – June 2010

2010-07-23T18:03:06Z

Lakeland FL Real Estate Home Sales – June 2010

For the month of June, the overall Lakeland FL Home Sales has declined slightly, but compared to previous year, it has been much of the same for when considering sales prices. A total of 216 Lakeland homes were sold in June with average and median prices sharply declining from the previous year. Distressed properties continue to be the driving force impacting and driving down market values for Lakeland FL homes with over 54% of market share.

Lakeland Homes sold in June: 216 - previous month: 221 – previous year June 09: 171 sold
June – average sales price $118,182

Previous month: $121,337 (-2.67%) – previous year June 09: $145,770 (-18.93%)

June – median sales price $109,200
Previous month: $106,000 (3.02%) – previous year June 09: $125,000 (-12.64%)

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.

A total of 2515 Lakeland homes are for sale and under contract (7/22/2010) resulting in a 12 months supply, noticing that our inventory increased suggesting that supply continues to be greater than the demand

Let’s break it down for you to see the supply and demand for common properties for sale versus the distressed market in the Lakeland real estate market.
Common properties only – Inventory active and pending 1451 homes resulting in 15 month of supply.
Distressed properties – Inventory active and pending 1065 homes resulting in a 9 month of supply.

Distressed properties in Lakeland, Florida

For the month of June, Lakeland’s real estate market of distressed homes had a market share of 54%. There were a total of 117 properties sold in June, according to Mid-Florida Regional MLS.

Check back soon for June’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 FL Real Estate – Short Sale – Reduced Price – 5920 Buck Run Dr.

2010-07-21T22:22:19Z

Reduced Lakeland FL Short Sale – 5920 Buck Run Drive – Deer Brooke Community – Southwest Lakeland

There are about 500 homes situated throughout the Deer Brooke neighborhood located in Southwest Lakeland. It has a rural atmosphere with its tree lined scenery. These homes were developed from the mid 1980′s to present and currently range in price from the low $100′s to $350′s. Deer Brooke community is surrounded by farms, horse farms, and homes with acreage.
View Larger Map

Lakeland FL Home for Sale – Short Sale!

Overview

$185,000

Single Family Home
For Sale

Main Features

4 Bedrooms
2 Bathrooms
Interior: 2335 sqft
Lot: 0.40 acre(s)

Location

5920 Buck Run Drive
Lakeland, FL 33811

To get updates on open home dates and other property events, please click the “Like” button below:

Petra Norris

CDV TransAtlantic, Inc. Real Estate Brokerage
(863) 619-6918
pnorris500@gmail.com
http://www.petranorris.com

Listed by: CDV TransAtlantic, Inc Real Estate Brokerage

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Lakeland FL Real Estate Update – June 16 through June 30, 2010

2010-07-14T10:50:13Z

Lakeland FL Real Estate Update for June 16 – June 30, 2010

Update for the Lakeland real estate market! Newly listed homes for the period of June 16th through June 30th, 2010. A total of 158 Lakeland FL homes for sale were recently listed with area Realtors®. The average sales price of Lakeland homes for sale decreased to $145,023 from my previous report. The total inventory of Lakeland real estate is 1973 as of 07/13/2010.

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

2 duplex listed with an average sales price of $83,700

7 condos listed with an average sales price of $64,400

7 mobile homes listed with an average sales price of $64,329

8 townhomes/villas listed with an average sales price of $79,225

134 single family homes with an average sales price of $158,293

Lakeland’s newest homes listed! The priciest home listed for this time period is a 2003 two-story pool home that features 5 bedrooms 5 baths with over 4,700 square feet of living space. The home is situated in the Tiffany Oaks neighborhood and is offered at $675,000. On the contrary, the cheapest Lakeland home listed for this time period is a 2 bedroom 1 bath bank owned home in the Lake Bonnet Park subdivision. It is offered at $14,900, just under $24.00 per square foot.

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 $100,921

33803 – 17 with an average sales price of $162,294

33805 – 15 with an average sales price of $90,807

33809 – 10 with an average sales price of $131,860

33810 – 30 with an average sales price of $134,930

33811 – 23 with an average sales price of $146,820

33812 – 15 with an average sales price of $158,127

33813 – 30 with an average sales price of $202,653

33815 – 04 with an average sales price of $46,175

Update on distressed homes in Lakeland

A total of 660 Lakeland homes are currently actively being marketed that are facing foreclosure. There were 80 Lakeland homes newly listed in the distressed category as Bank Owned and Short Sale with an average price of $111,710 or $62.95 per square foot.

June Update on “Sold & Pending” for Lakeland Real Estate

210 Lakeland homes were sold in June with an average sales price of $118,763. There are currently 487Lakeland homes in “pending” status awaiting to close according to the Multiple Listing. Check back soon for my detailed market report for Lakeland homes sold in June.

Looking for your next Lakeland FL home, it is all right here with the click of your mouse – just click away!

Buyer Beware – Homeowner Beware – Deed Retrieval Service Mislead Many Homeowners

2010-07-14T02:20:50Z

Buyer Beware – Homeowner Beware – Deed Retrieval Service Mislead Many Homeowners

Last week I received an email from my client who recently purchased her Lakeland FL home inquiring about her Deed. She wrote the following:

Petra,

I have a question for you. I’m wondering about how long it takes to receive the deed for the house, and where it will come from. Last week I received something in the mail that seemed suspicious to me. It says it’s from the ”State Record Retrieval Board” and is from California. It says to receive a copy of my own deed I need to send them $87. This just doesn’t seem normal to me, so I thought I’d ask you.

Thanks,
Sandy

I’m glad she asked. There are homeowners who may think that is letter was sent by a government agency and quite honestly I thought the same thing when I glanced at this letter first.

I responded to Sandy, that this seems very suspicious and it was not necessary to send them any money because she had already paid ($10.00) to Polk County FL for the recording of the deed when she closed on the house.

While this letter does state at the bottom – “This is not a bill. This is a solicitation” – it is truly misleading to many new homeowners and it is borderline scam.

Homeowners! If you happen to receive such a letter, do not pay $87.00. You can obtain a copy of the recorded deed by going to the Clerk of Courts office and pay as little as $10.00.

My client was kind enough to send me the letter and I have included this letter so you can see what it looks like.

Deed Solicitation

Lakeland FL Real Estate Update for June 01 – June 15, 2010

2010-07-14T10:51:14Z

Hi folks! A quick update for the Lakeland real estate market that were newly listed from June 1st through June 15, 2010. A total of 181 Lakeland FL homes for sale were recently listed with area Realtors® with an average listing price of $169,235, a increase of about 12% in list price 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 listed with an average sales price of $93,650

9 condos listed with an average sales price of $69,933

16 mobile homes listed with a median sales price of $65,450

7 townhomes/villas listed with an average sales price of $84,429

146 single family homes with an average sales price of $186,591

Lakeland’s newest homes listed! The priciest home listed for this time period is a 2003 custom built Hulbert Homes 5 bedroom 6 baths home with over 5,240 square feet of living space. The home is situated in the Lone Palm Golfing Community and is offered at $895,000. On the contrary, the cheapest Lakeland home listed for this time period is a 2 bedroom 1 baths mobile home – bank owned property – in the Blacks Resub neighborhood. It is offered at $24,900, just over $43.00 per square foot.

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 $70,889

33803 – 26 with an average sales price of $157,333

33805 – 10 with an average sales price of $108,730

33809 – 22 with an average sales price of $177,173

33810 – 38 with an average sales price of $159,481

33811 – 14 with an average sales price of $140,549

33812 – 15 with an average sales price of $177,233

33813 – 38 with an average sales price of $231,111

33815 – 04 with an average sales price of $273,675

There were 75 Lakeland property newly listed in the distressed category of short sales and bank owned with an average price of $121,198 or $65.97 per square foot.

Check back soon for my Lakeland Fl Real Estate Update for June 16 – June 30, 2010

Real Estate News Alert – Homebuyer Tax Credit and National Flood Insurance

2010-07-01T11:35:27Z

It has all come down to the wire! Congress voted to extend homebuyers tax credit and national flood insurance.

Homebuyer Tax Credit Bill HR 5623 – The closing date of the previous stated closing deadline by June 30, 2010 has been extended through September 30, 2010. This extension will help homebuyers who signed purchase contracts before April 30, 2010 and are waiting for the property owner’s lender for approval. According to the National Association of Realtors, it will benefit more than 14, 000 contracts in Florida.

Active Duty Military members exception - military families and active-duty servicemembers currently living overseas, deadline is April 30, 2011.

National Flood Insurance Program - Congress extended the bill HR5569 a short-term program retroactive to May 31,2010 until September 30, 2010.

Overall Polk County Existing Home Sales for May 2010

2010-07-14T10:53:00Z

Polk County’s overall existing home sales continued to improve somewhat in May. However, prices continue to drift downwards blaming it still widely on discounted distressed sales throughout the county from the previous year and the years prior.

A look back in history:

· May 2006 – median price $188,000 (-%50.93)

· May 2007 – median price $184,250 (-%49.93)

· May 2008 – median price $150,000 (-%38.50)

· May 2009 – median price $101,000 (-8.66%)

The graph picture below represents the overall Polk County Real Estate market with average sold prices and the number of sold homes.

777 existing homes sold – a decrease of 5.13% from the previous month (819 sold homes) in Polk County and an increase in sales activity by 35.84% of overall existing homes sold from the previous year of 572.

A slight increase by 1.37% in overall Polk’s median price for existing homes from the previous month to $92,250, the median home price from the previous year is showing a decline by 8.66%.

Take a look at the city you live in and see what the numbers are for May 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	79,985	72,000	27
BABSON PARK	126,335	79,900	5
BARTOW	78,507	56,875	26
CLERMONT	50,050	48,000	4
DAVENPORT	117,519	110,000	153
DUNDEE	60,220	71,200	5
EAGLE LAKE	86,850	75,000	4
FORT MEADE	69,450	69,450	2
FROSTPROOF	67,333	40,000	3
HAINES CITY	91,256	94,000	47
HOMELAND	120,000	120,000	1
INDIAN LAKE ESTATES	105,250	105,250	2
KATHLEEN	135,000	135,000	1
KISSIMMEE	90,360	76,900	20
LAKE ALFRED	96,333	65,750	6
LAKE WALES	85,155	65,000	29
LAKELAND	121,525	106,500	220
LOUGHMAN	26,000	26,000	1
MULBERRY	121,579	128,388	20
POINCIANA	90,349	70,500	85
POLK CITY	112,216	65,556	10
WINTER HAVEN	107,749	97,000	106

Let me break down May 2010 Polk County existing homes sales into various categories:

· 700 Single family homes, townhomes, villas and ½ duplex – median sold price $112,337 – 142 Average Days to Closing

· 31 Condominiums – median sold price – $59,935 – 155 Average Days on Closing

· 46 Modular, manufactured/mobile homes in park/out of park – median sold price $55,097 – 166 Average Days on Closing

Let’s take a look at the distressed Polk County real estate market!

There were 289 existing Polk County homes sold, not categorized as distressed properties, at a median sold price of $120,000 with 174 average days to closing, which counted for almost 37% of our total sales. The distressed properties however; which includes Bank owned, pre-foreclosure, in foreclosure and short sales counted for 63% of our total sales in Polk County for the month of May.

· 377 sold homes were Bank Owned – median price $77,500 – Average Days to Closing 85

· 111 sold homes were Short Sales – median price $90,000 – Average Days to Closing 270

Lakeland FL Short Sale and Foreclosure Housing Report – May 2010

2010-06-21T19:46:00Z

Lakeland Florida Short Sale and Foreclosure Market Report – May 2010

For the month of May, Lakeland real estate market of short sales and bank-owned (REO) properties had a market share of 57%. There were a total of 127 properties sold in May, compared to 148 in April and 61 distressed Lakeland homes sold the year prior, according to Mid-Florida Regional MLS.

Currently there are a total of 1,940 Lakeland homes for sale and 514 Lakeland homes under contract (06/21/2010). 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 14.10%

• Short sale properties – Inventory share is 26.20%

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 87 days

• Average days to Closing for other distressed properties are 307 days.

29 Short Sale Sold – average sold price $124,514 – median sold price $120,000 98 Bank-owned (REO) sold – average sold price $93,310 – median sold price $82,700

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.

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