Lakeland Real Estate Blog by Petra

Who Is Your Real Estate Agent? - Are You Currently Working With A Realtor®

The most important responsibility as Realtors® to our clients and customers is to protect them from harm.  

When showing properties for potential buyers or doing a Comparable Market Analysis for potential sellers, we sometimes get sidetracked and fail to ask the all important question - Are you currently working with a Realtor® or Who is your Real Estate Agent? - This is harmful especially when this potential customer already has an established relationship with another Realtor®

Last month I have written a post about the "Most Violated Article" of our Code of Ethics after attending my Quadrennial Member Education Course before it would expire on December 31, 2008. I always believed in to ask that very crucial question as a courtesy and out of respect to my colleagues until I attended and read that it is our duty as Realtors® to ask.  It is our duty and responsibility and not theirs. With the internet being one of the great resources a buyer or seller has, it still does not replace the Realtor®. In reality, the consumers don't know how Realtors®  work, we sometimes assume they do - consumers sometimes think so, too.

How can we make a difference?

• Explain to a potential seller the listing agreement
• Explain a potential buyer the buyer brokerage agreement
• What it takes to sell a house from "cradle to grave"   
• What all entails to buy a house from the first showing to closing

There are only 62 days left in this year, have you taken your Code of Ethics Training course yet? The article below from the National Association of Realtors® is just a small reminder on the importance of this training.

Article 16
REALTORS^® shall not engage in any practice or take any action inconsistent with exclusive representation or exclusive brokerage relationship agreements that other REALTORS^® have with clients. (Amended 1/04)

Standard of Practice 16-13 

All dealings concerning property exclusively listed, or with buyer/tenants who are subject to an exclusive agreement shall be carried on with the client's representative or broker, and not with the client, except with the consent of the client's representative or broker or except where such dealings are initiated by the client.

Before providing substantive services (such as writing a purchase offer or presenting a CMA) to prospects, REALTORS® shall ask prospects whether they are a party to any exclusive representation agreement. REALTORS® shall not knowingly provide substantive services concerning a prospective transaction to prospects who are parties to exclusive representation agreements, except with the consent of the prospects' exclusive representatives or at the direction of prospects. (Adopted 1/93, Amended 1/04)

Who is your Realtor®?

Copyright © 2008 http://www.petranorris.com| All Rights Reserved | 

Who Is Your Real Estate Agent? - Are You Currently Working With A Realtor® 

Petra Norris - Realtor®

 Licensed Florida Real Estate Broker

CDV TransAtlantic, Inc.

P.O. Box 92050 - Lakeland, FL 33804-2050  

Telephone (863) 618-6919

Lakeland Florida Homes New on Market - Weekly Update for 10/19/08

Hi fellow readers, there are currently 2,418 homes for sale in Lakeland, Florida. The average sales price is $221,684 and the average size of a home is 1,856 square foot, which calculates to $119.44 per square foot.  

The average listing price for this week's new homes on market in Lakeland is $166,525 with average square feet of 1,737.

Altogether, there were 65 homes newly listed with area Realtors®. This weeks most priciest Lakeland Real Estate newly listed is a 2005 pool home in the Amanda Oaks Subdivision featuring 5 bedrooms and 3 baths. This home is being offered at $539,000. On the contrary, the cheapest home listed has 3 bedrooms, which is being offered for sale for the land value only due to fire to the house, the sales price is $24,900. The 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". All my reports are illustrated by zip codes and the map provide you a better guidance when searching for homes in Lakeland, Florida.

Types of homes newly listed

4 mobile homes with an average price of $83,106

2 townhomes/villas marketed with an average price of $71,400

59 single family homes averaging $175,405 

The breakdown by zip code is as follows:

• 33801 - 07 average price $163,491
• 33803 - 07 average price $84,485
• 33805 - 03 average price $159,300
• 33809 - 13 average price $175,707
• 33810 - 15 average price $ 170,235
• 33811 - 08 average price $178,037
• 33812 - 03 average price $241,266
• 33813 - 07 average price $204,242
• 33815 - 02 average price $97,450 

If you follow the distressed home market, there were 28 properties newly listed with an average price of $150,403 or $83.96 per Sq.Ft. 

Weekly update on distressed properties in Lakeland

The weekly inventory represents 28 properties for sale in Lakeland that came newly on the market. These homes have an average list price of $150,403 which calculates to $83.96 per square foot. Distressed homes are homes currently in pre-foreclosure, bank-owned, foreclosure and or trying to get approval for a short sale.

For more information on the location of the properties, pricing 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.

Like what you see - want additional details on a specific property? Look no further, click on the "Search for Homes" icon or contact me directly at (863) 619-6918

Copyright © 2008 http://www.petranorris.com| All Rights Reserved | 

Lakeland Florida Homes New on Market - Weekly Update for 10/19/08 

Petra Norris - Realtor®

 Licensed Florida Real Estate Broker

CDV TransAtlantic, Inc.

P.O. Box 92050 - Lakeland, FL 33804-2050  

Telephone (863) 618-6919

I want to do something special to a special lady and her friend Broker Bryant. If you are in Real Estate or thinking about getting into Real Estate. Check out Margaret's book - Real Estate, the Right Rome Way.

BTW - Mr. Seth Godin!!! Come over and review Margaret Rome's new book - I sure will.

Lakeland's Harrison School for the Arts presents "Pirates of Penzance"

In years past musicals like "Singing in the Rain", "Starting Here, Starting Now" and the "King and I" brought exhilaration and a full house to Lakeland's Harrison School for the Arts theatre. This year, despite the ongoing construction at the school, the show must go on and you will be astonished by the exceptional talents these High School kids from departments such as musical theater, music, dance, orchestra and theater departments, showcase.

For the next two weeks, students from the Lois Cowles Harrison Center for the Visual and Performing Arts will present this fanatical rendition of "The Pirates of Penzance" by W.S. Gilbert and Arthur Sullivan.

The raucous operatic tale of a young pirate apprentice named Frederic who decided to leave the pirate life forever. Feeling obliged, however, to point out the pirates' weakness being too softhearted. Apparently, all a captive must do is claiming to be an orphan and he is immediately released. Frederic, who has never seen any woman other than his partially deaf nurse, Ruth, stumbles upon a group of beautiful maidens and immediately falls in love with the Major General Stanley's daughter Mabel. Soon thereafter, the pirates arrive and want to marry the rest of the Major General's daughters. While the Major General Stanley recruits help from the police to stop the pirates, Frederic offers to help Stanley and the police to protect the ladies but soon realizes being torn by his slavery to duty under the swashbuckling Pirate King.

The show will be presented in the spirit of satire that Gilbert and Sullivan were known for, while at the same time, giving a contemporary audience an opportunity to enjoy the wit and style of slapstick and tongue and cheek hilarity. This production of Pirates leaps into the audience's seats as a boisterous romp full of high spirit with sword fights and hilarity that makes an evening at the theatre enjoyable.

Meet the cast members:

Frederic is played by Dereck Seay 12^th Grade

Mabel is played by Siobhan Gale 11^th Grade

Ruth's role is played by Caitlin Knowles 12^th Grade

Sergeant of the Police is played by Skyler Knopp 11^th Grade

Major General Stanley is played by Brendan Troost 12^th Grade

The Pirate King is played by Britt Michael Gordon 11^th Grade

Isabel is played by Olivia Williams 12^th Grade

Edith is played by Alexis Ripley 12^th Grade

Kate is played by Amelia Marler 11^th Grade

Samuel is played by Tyler Campbell 12^th Grade

Photos were taken and provided by Andy Glogower http://innerglowphoto.com/

Performances: October 24, 25, 31, November 1 at 7:30 p.m. - October 26, November 2 at 2:00 p.m.  ****Reserved Seating****

Ticket prices: $10.00 for student/seniors - $15.00 for adult ticket

Box Office hours:

October 21^st through October 23^rd & October 27^th through October 30^th - 3:00 p.m.-6:00 p.m.

                                                October 24^th & October 31^st 3:00 p.m. - 8:00 p.m.

                                                October 25^th & November 1^st 4:00 p.m. - 8:00 p.m.

                                                October 26^th & November 2^nd 12:00 p.m. - 2:30 p.m.

Purchase Tickets online at www.harrisonarts.com

Prior to the opening night of Pirates of Penzance, the Visual Arts Department will hold their Visual Arts Reception themed, "Stars, Stripes and Polka Dots" on October 24, 2008 at 6:00 p.m.

Copyright © 2008 http://www.petranorris.com| All Rights Reserved | 

Lakeland's Harrison School for the Arts presents "Pirates of Penzance" 

Petra Norris - Realtor®

 Licensed Florida Real Estate Broker

CDV TransAtlantic, Inc.

P.O. Box 92050 - Lakeland, FL 33804-2050  

Telephone (863) 618-6919

Fear is a Powerful Force when Buying a Home in Lakeland Florida

In one of my previous blogs, I have written about setting priorities when it comes to home buying here in Lakeland, Florida. I have been working with a young family looking for a home. I've shown them numerous homes that were within their price range and style; recognizing that it would be an opportune time to buy. Buying a home is not my decision to make and I will pressure nobody to buy any particular home at any price I show; however, I'm here to counsel my buyers about pricing, location and the potential ability the property may or may not have. Still, the young family is torn in their decision to buy a home and have yet to make a serious offer.

Buyers search endless hours on the internet for their dream home at a bargain price. When they do find their dream home they become very exuberant about buying their home signing the purchase contract only to rescind the next day because of fear. Given the economic crisis, job security, high gas prices, and turmoil on Wall Street - these are all contributing factor causing insomnia to many confident home buyers.

For real estate professionals, it is intricate to estimate home values today, it is even more complicated to predict the value of real estate in the future. Nevertheless, buyers who purchase their homes at rock bottom price in well established communities will see their homes appreciate over time. This simple statement by Warren Buffett applies not only in the stock market; it also applies in the real estate market: "Be fearful when others are greedy, and be greedy when others are fearful." In today's Buyers Market - bad news is good news; it lets you buy a slice of America's dream at a much discounted price.

If you are seriously considering buying a home, let me suggests a few things that I have experienced when working with home buyers:

• Purchase your home with your eyes wide open, ignoring the negative atmosphere of news reports.
• Obtain every solid piece of information about your next home, your neighborhood, your community.
• Re-examine you reasoning in purchasing your home.
• Delaying a home purchase due to instability in the housing market could mean lost opportunity for you.
• Don't let the abundance of inventory find yourself confused by an array of choices - hire an experienced Realtor® that can help you clarify your choices and bring it back into your perspective.
• More importantly now for you is to hire a strong local mortgage lender, who will work with you to obtain all necessary documents to get a loan approval to be a strong buyer.

Copyright © 2008 http://www.petranorris.com| All Rights Reserved | 

Fear is a Powerful Force when Buying a Home in Lakeland Florida

Petra Norris - Realtor®

 Licensed Florida Real Estate Broker

CDV TransAtlantic, Inc.

P.O. Box 92050 - Lakeland, FL 33804-2050  

Telephone (863) 618-6919

Lakeland Florida - Lake Mirror Classic Car Show 2008

If you have been strolling through downtown Lakeland's First Friday where cars are on display, you will be in for a big surprise at the annual Mercedes-Benz Lake Mirror Classic.  Lakeland expects an estimated 35,000 people wandering around Lake Mirror for the three day event which is considered as one of the best shows in the Southeast. This three-day charity event raises money for Lakeland's non-profit group, such as the Junior Achievement of Polk County and the Boy Scouts of America. In it's 9^th year, the event has raised more than $175,000.00

The honorary chairman for this year's Festival is the legendary NASCAR's Hall of Famer Bobby Allison, who was the series champion in 1983 including victories at Daytona 500 and Winston Cup during his racing career.

Blog Action Day – Poverty Affects People in Your Own Back Yard

Poverty is not only in countries like Thailand, Indonesia, Africa, Iraq, Afghanistan...

It's happening right here in our own back yard

America - The Land of the Free, the land with endless opportunities, living the American Dream.....

Growing up in Germany in the 70's with six brothers and one sister, mom was working in a brewery and dad was a heavy equipment operator putting asphalt on the road. We had a roof over our head, food on the table and hand-me-down clothes to wear. Money was always tight with dad working only in spring, summer and fall. I never knew our financial dilemma when I was growing up, my parents never talked about money in front of me and my siblings. Poverty was in our family, I just did not notice.

Today, I took a walk around Lakeland's Munn Park. I noticed a guy sitting on the bench reading a book with a backpack next to him. I asked him if I could sit next to him and off we were talking about life. I asked him where he came from and where he lived. He started talking about living on the streets, being homeless, staying at The Lighthouse Ministry in Lakeland when he can; being an alcoholic and that he lost his only son in a motorcycle accident a few years back only made things worse. Losing his son, he told me, was a real heartbreaker that he has not been able to get over. I commented that losing a child is worse than losing a spouse, but he would have to take that first step to turn his life around. He seemed to me that he has trouble when getting a step ahead something happens, like loss of work, he would fall down again, making it even harder to get up again. 

"It is not easy for men to rise whose qualities are thwarted by poverty." By Juvenal (55 AD - 127 AD) 

Poverty is happening in your own backyard; even here in this beautiful town Lakeland Florida, all you have to do is look around you. Poverty could be in your own neighborhood, with foreclosures on the rise, folks losing their jobs. More and more people are living one paycheck away from disaster. 

Today is Blog Action Day and the theme is "Poverty".  Please join me and thousands of others to make a difference in somebody's life by lending a helping hand. By lending a helping hand you may put food on their table, clothes on their back or even have a warm place to sleep.

 Written by Petra Norris - CDV TransAtlantic - Lakeland Florida

Lakeland Florida Homes New on Market - Weekly Update for 10/05/08

Hi fellow readers, there are currently 2,386 homes for sale in Lakeland, Florida, which did not change from last week's update. The average sales price is $223,945 and the average size of a home is 1,862 square foot, which calculates to $120.27 per square foot.  

The average listing price for this week's new homes on market in Lakeland is $198,639 with average square feet of 1,789.

Altogether, there were 79 homes newly listed with area Realtors®. The lowest priced home that came on market in Lakeland is $33,000. The highest priced home, a 1989 pool home is being offered at $845,000 and is located in the LAKE IN THE WOODS Subdivision. There are 5 manufactured homes listed with an average price of $117,000, 2 condominium units listed for an average price of $58,950, 2 ½ duplex with an average list price of $81,400, 5 townhomes/villas priced average at $112,720, and 65 single family homes with an average price tag of $219,427. The 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". All my reports are illustrated by zip codes and the map provide you a better guidance when searching for homes in Lakeland, Florida. 

• 33801 - 9 properties - average list price $100,399
• 33803 - 7 properties - average list price $182,385
• 33805 - 5 properties - average list price $85,340
• 33809 - 15 properties - average list price $215,413
• 33810 - 15 properties - average list price $179,546
• 33811 - 8 properties - average list price $186,287
• 33812 - 5 properties - average list price $207,940
• 33813 - 12 properties - average list price $366,600
• 33815 - 3 properties - average list price $77,300 

Weekly update on distressed properties in Lakeland

The weekly inventory represents 29% or 23 properties for sale in Lakeland that came newly on the market. These homes have an average list price of $124,960 which calculates to $78.76 per square foot. Distressed homes are homes currently in pre-foreclosure, bank-owned, foreclosure and or trying to get approval for a short sale. 

For more information on the location of the properties, pricing 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.

Like what you see - want additional details on a specific property? Look no further, click on the "Search for Homes" icon.

Copyright © 2008 http://www.petranorris.com| All Rights Reserved | 

Lakeland Florida Homes New on Market - Weekly Update for 10/05/08 

Petra Norris - Realtor®

 Licensed Florida Real Estate Broker

CDV TransAtlantic, Inc.

P.O. Box 92050 - Lakeland, FL 33804-2050  

Telephone (863) 618-6919

Looking for Rentals in Lakeland Florida - Do your homework before you sign?

It is not a surprise anymore when I drive with my clients looking at homes that have For Sale and For Rent signs placed in the yard for the same house.  Typically, when an owner put up a For Rent sign and he gets a call, the caller will have to go through multiple steps to qualify before signing a lease agreement.

• Verification of Employment
• Credit Check
• Background Check
• Personal References

There are people, who simply can't buy a home at this time, but need a place to live.  With plenty of unsold homes that owners throw into the pool of Lakeland rental homes on the market because they can't make their mortgage payments anymore. Prospective tenants could be victimized, end up losing a lot of their hard earned money and could end up being homeless if they don't do their homework.  

Prevention is the Best Remedy

Before you sign on the dotted line of the lease agreement, qualify the owner of the home (landlord) you are about to lease. How Do I Do That?

• Verify the address and owner - search the Property Appraisers web site
• Is there a Lis Pendens filed? - search the Clerk of Courts web site
• Is there a Tax Lien on the property? - search the Clerk of Courts web site
• Have your attorney look at the lease agreement before you sign - a clause to the effect when landlord defaults facing foreclosure that landlord is responsible for moving expenses etc. could be valuable.
• Become acquainted with the Florida Tenant Law

I'm not a lawyer and I don't give legal advice.  If you are in a situation where you have been served a foreclosure notice, contact your attorney and/or the bank's attorney immediately - remember it's not the bank's attorney fault that the property you are leasing is in foreclosure; so please be polite.

Copyright © 2008 http://www.petranorris.com| All Rights Reserved |

Looking for Rentals in Lakeland Florida - Do your homework before you sign?

 Petra Norris - Realtor®

  CDV TransAtlantic, Inc.

  Licensed Florida Real Estate Broker

PO Box 92050 - Lakeland, FL 33804-2050

Telephone (863) 619-6918

Finally some Good News! Lakeland Florida Real Estate Market Report - September 2008

Hi folks! In recent weeks, we have been watching all kinds of news regarding the financial disaster on Wall Street, the credit market, the never-ending presidential election and on and on..... I want to share some good news in the housing market here in Lakeland, Florida, especially if you are a Seller and waiting for your home to be sold. Although the month of August was not very encouraging for Lakeland home sales, the start of fall in the month of September and the rise in home sales was quite positive. 

The 154 homes sold in September not only increased by 16% from the previous month, it also increased by 12% from the previous year. While the average sold price decreased by 14% from September 2007; the average sold price for a home in Lakeland increased by almost 6% last month.  The time it took a home to sell was an average of 109 days last month compared to last year's 147. 

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 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".  The average sold price in Lakeland Florida for the month of September was $166,370 and as you can see only 4 zip codes reached above average sales price (highlighted) in Lakeland.

For more information on the location of these sold properties 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.

Check out the graph here, the gap continues of the average list price vs. the average sold price for the year 2008. To lower the inventory on hand, the gap must approach towards the average sold price.

The graph below will give provide detail information of how many homes sold in Lakeland by Zip Code and by month.

Lakeland's current inventory reached 2,404 of residential homes in active and 232 homes in pending status.  

Distressed properties are homes in pre-foreclosure, foreclosure, bank owned, as well as short sales - Of the 154 homes sold last month, 42 homes were sold with an average sales price of $134,811. Only 9 homes were sold the previous year, due to Short Sales and/or Foreclosures.

There are currently 457 homes facing foreclosure.

78 homes are in pending status waiting for bank or lender approval to close.

What is the average price for these types of homes?

In Lakeland, you will find distressed properties in every price category.  The average price currently listed is $155,036. The priciest home currently on the market is listed for $750,000 and the lowest priced home is $19,900.   

Let's take a look at last month sold report for the surrounding cities in Polk County:

Winter Haven - 58 properties sold - average sold price $127,738 - average $73.95 per sq.ft.

Bartow - 13 properties sold - average sold price $97,384 - average $67.18 per sq.ft.

Mulberry - 16 properties sold - average sold price $118,997 - average $78.72 per sq.ft.

Auburndale - 16 properties sold - average sold price $158,035 - average $77.95 per sq.ft.

Polk City - 6 properties sold - sold price $154,884 - $94.09 per sq.ft.

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.

Copyright © 2008 http://www.petranorris.com| All Rights Reserved |

Finally some Good News! Lakeland Florida Real Estate Market Report - September 2008

 Petra Norris - CDV TransAtlantic, Inc. - Licensed Florida Real Estate Broker -

PO Box 92050 - Lakeland, FL 33804-2050 -

Telephone (863) 619-6918