Lakeland Real Estate Blog by Petra

Seller's Net Sheet or should I ask: How much lower can you go?

Before I go out on my listing appointment, I prepare a detailed CMA (Comparable Market Analysis) to come up with the best recommendation for the Seller to price the home right.  The seller will also get an estimated Seller's net sheet so they can see what their proceeds will be. I'll base the net sheet on the lower end of the recommended listing price detailing all the typical expenses, such as commission, title charges, government recording and transfer charges, additional settlement charges, they have when it is time to close, including the mortgage payoff if there is any and estimated property tax proration.

It was not too long ago, I remember when the buyer would bring money to the closing table and the seller would leave happily with a nice check in their hand heading to the bank? Aah... these were the good times. With the declining home values, it becomes more and more apparent that an old game of tug of war is being played between the seller and buyer. It shows that times really have changed.  More often now, the table is reversed - Sellers has to bring the check to the closing table or walk away with no money to take to the bank.

Sellers - please ask yourself these questions below before you sign on the dotted line of the listing agreement! 

•     How much lower can I go?
•     Value of my home today including mortgage and selling cost does it equal the purchase price I am willing to accept?
•     Do I really have to sell my home?

The bottom line you must consider is that your home is sold when the buyer, the buyer's lender, the appraiser, and of course yourself are all in agreement.  When an offer is received, you want to make sure that another seller's net sheet is prepared prior to signing a binding real estate sales contract.

Folks, if you are thinking about selling your home, make sure that you are given a detailed CMA and an estimated Seller's net sheet before signing a listing agreement.

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

Seller's Net Sheet or should I ask: How much lower can you go?

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

PO Box 92050 - Lakeland, FL 33804-2050 -

Telephone (863) 619-6918

Domestic Violence in Lakeland Florida

It has been a sad day here in Lakeland, Florida where a young mother of two young children lost her life due to domestic violence. My deepest heartfelt sympathy to the family and friends who have known and loved her.

I want to take this opportunity and reach out to women who endure domestic violence for the sake of their children hoping and praying it will not happen again. I want to reach out to women, who think the only way out is to commit suicide.

Please take a moment and read this wonderful blog by Katerina Gasset, how she saved a young mother's life and also take the time to read her post "Shattered Glass and Dancing Nights: A Story of Domestic Violence".

Should you find yourself in a situation of domestic violence, thinking about the only way out is to commit suicide please pick up the phone and call the Peace River Center's Domestic Violence Hotline - Lakeland Area - (863) 413-2700. Please reach out to somebody because I know that you are loved by somebody, who truly cares.

Thank you,

Petra Norris

While You Were Sleeping, Hurricane Gustav is Making his Mark!

Although it never became a Hurricane, Tropical Storm Fay broke a record by making landfall four times in Florida. While some counties are considered disaster areas here in Florida and still cleaning after Fay, a much bigger fish - anticipated storm, Hurricane Gustav is being closely watched by the National Hurricane Center in Miami that could possibly reach category 3 and reach the Gulf of Mexico by the end of this week.

After watching and reading news reports there is no storm to be taken likely. Who would have thought that Fay would have such an impact here in Florida? This goes to show that every measure and precaution must be taken serious in order to survive this Hurricane season. Polk County Emergency Management provided this map of Polk County that outlines various shelters throughout Polk County along with important information you should know when a hurricane approaches. You can pick up valuable brochure by visiting your local Publix store.

Have you taken the necessary preparation yet?

Do you know where your nearest shelter is?

Polk County has a total of 44 shelters available

Did you think of your pets?

There are three pet friendly shelters – your pets should be current on their shots in order to stay at the shelter

Do you have special needs?

There are three special needs shelters in Polk County Do you have 3-Day Survival Kit?

Do you know all the important Telephone Numbers? Polk County’s Emergency Management Office Telephone number is (863) 534-5600.

Stay safe during this hurricane season and seek shelter should you have to evacuate. Do not proceed to any shelter until you have confirmed that it is open and operating. For shelter information, stay tuned to your local radio and television stations.

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

While You Were Sleeping, Hurricane Gustav is Making his Mark!

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

PO Box 92050 – Lakeland, FL 33804-2050 –

Telephone (863) 619-6918

The General Store in Lakeland Florida - Where Nostalgia and Therapy is Alive!

If you have not discovered Downtown Lakeland’s newest old store that has everything from Band-Aids & Fix-A-Flat to Marlboros & Toiletries, Ice Cream, Chick-O-Sticks & Moonpies to Gift Baskets, Pet Toy’s & Ice Cold Grape Crush, even Nostalgic Toys (no batteries required) & Historical Lakeland gifts, why don’t you join me and discover it now as I share with you the nostalgic of Lakeland, Florida’s only “real” General Store. Terisa Glover and Terry Lauretta, long time friends, decided in 2007 that it was now or never to open up what Downtown Lakeland really needed - Groceries, Sundries & Memories.

Located at 125 South Kentucky Avenue in historical downtown Lakeland, the store is within walking distance from Munn Park and Lake Mirror nestled in nearby children’s museum, hotels, restaurants, cafés and specialty shops like clothing, antiques, pottery and art galleries. Folks from all over the world have visited and purchased items from this General Store. People stop by and ask for directions or have questions, which are kindly answered with a smile on their face.

Within recent years and still ongoing, Lakeland’s downtown revitalization program shaped into bringing new businesses, apartments, condos and lofts. People, who spend their lunch time stop by grab a snack and say hello to Terisa and Sparky on their break. I asked Terisa what makes this store so special to the people, who live and work downtown Lakeland? She replied that this store is also therapy to people that work downtown Lakeland. She watched folks who are a little bit stressed, come to her store to sit outside in the rocking chair intensely rocking back and forth and then soon thereafter soothing to the gentle glide of the rocking chair before going back to work. So, if you are in need for some therapy, why don’t you “Come By and Rock a Spell” or play a game of checkers.

What makes this store so unique? It’s not about pricing or the extra value you would get if you compare The General Store with Wal-Mart or Target. It’s about personality of the people working in this store and about the store itself, a small locally owned business, which should be about patronizing because you want it to be successful. Location, location, location….. if you happen to be living, working or spending time downtown, you will soon realize that the nearest Wal-Mart, Publix and Target are not within walking distance, especially if you forgot to bring home milk or bread. Why not leave the stress driving with the car, contribute to the environment and your health by walking to the store. The very friendly clerk will surely appreciate your patronage.

View of the store as you walk in – stylish and decoratively well done!

Known for carrying items such as milk, bread, sodas, toys – no batteries required, the general store also has home grown items, such as Lakeland’s Countrybees honey, homemade salsas and grilling salsas like “Hot Wachula’s”.

Walking into the store the window greets you with its display of seasonally decorated items inviting you to take your family to the beach and enjoy the rest of the summer.

The store’s great idea decoration of Rock City’s famous birdhouse shows beautiful detail.

See what the store has for you inside the birdhouse!

Looking for classics – filled with memories - look no further!

Meet Sparky (CFO) – she loves being the stress reliever and always loves friendly attention.

Lakeland Florida “The General Store” is open Monday – Friday from 7:30 a.m. – 6:00 p.m. and Saturday from 10:00 a.m. – 5:00 p.m. Their phone number is (863) 688-5900 and they also have a MySpace page.

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

The General Store in Lakeland Florida – Where Nostalgic and Therapy is Alive

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

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

Telephone (863) 618-6919

2008 Beijing Olympics - United States History in the Making

Last night I was glued with great anticipation on the television set watching NBC's coverage of the 2008 Beijing Olympics.  In her first ever Olympic Games, Rebecca Soni won the Gold Medal in the 200m breaststroke in world record time beating Australian's Leisel Jones. Having a great start and keeping close to her competition for 150 meters, she pulled away the last 50m from her most toughest competitor Leisel Jones almost a full body length for the win.  Surprisingly to me, she was not even favored to win according to the television announcer but she made him a believer with her over one second advantage win despite placing 1^st in the semis. Congratulations on winning Silver and a Gold Medal - United States History in the Making at the 2008 Beijing Olympics.

Rebecca Soni - Photo by Lars Baron/Getty Images 

Ryan Lochte from Daytona Beach, Florida competed against his fellow countrymen  Aaron Peirsol last night in the men's 200-Meter backstroke. As the nation watched, the Russian Arkady Vyatchanin setting up the pace for most of this race, Ryan Lochte took over the race winning it in world record time. Surely, he is in the shadow of Michael Phelps, however he really stole the show in one of his biggest event by winning the Gold Medal. Not only did he win the Gold Medal in world record time, he also finished the men's 200m medley in 3^rd place in less than an hour after winning the last race, winning the Bronze Medal.  Congratulations in winning 4 medals for the United States thus far as we watched in awe History in the Making at the 2008 Beijing Olympics.

Ryan Lochte - Photo by Timothy Clary/AFP/Getty Images 

Michael Phelps - what else is there to say. He is being compared to Michael Jordan and Tiger Woods, rightfully so because his records speak for itself. As I watched a news report about him recently, it was said that his heart beats twice as fast as of a normal human being. My daughter even compared him to one of the greatest Triple Crown Winner "Secretariat" because of the horse's enlarged heart. Check out this video and History in the Making at the 2008 Beijing Olympics, Michael Phelps winning his 6^th Gold Medal.

The night for me ended with the much anticipated all around finals for the women's Gymnastics. Watching the men's gymnastics the past few days, it was the Chinese delegation of the gymnasts that dominated the competition and winning the top podium with the United States giving all they had winning a great Bronze Medal. The very young strong women Chinese athletes proved in the team competition, especially winning the Gold Medal in the team competition, that they are a team to be reckoned with along with Russia and Romania.  The Russian born American Nastia Liukin, Gold Medal and teammate Shawn Johnson winning the Silver Medal respectfully is one of the greatest moments in U.S. history of the Olympics. Nastia's gracefully strong performance in all three categories was the girl to beat after her stellar routine on the uneven bars. After the balance beam, Shawn Johnson had to give it her all by not holding back on her floor routine and received the same score as Liukin. Between the ballerina Nastia Liukin and the powerful, but gracious Shawn Johnson, the difference was only six-tenths of a point.  As I watched them receiving their Gold & Silver Medal, my eyes were getting teary while listening to the National Anthem and feeling the proud moment to live in this great country. In the end it was well worth staying up late watching these events. Congratulations - it was History in the Making at the 2008 Beijing Olympics. Watching both of these gymnastics, I was really surprised of their unselfishness and the actions of their parents not pushing them into gymnastics. They are in the sport of gymnastics because they love what they are doing.

Nastia Liukin (front) & Shawn Johnson - Photo by Jeff Gross/Getty Images

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

2008 Beijing Olympics - United States History in the Making

Petra Norris - CDV TransAtlantic, Inc. - Licensed Florida Real Estate Broker - P.O. Box 92050 - Lakeland, FL 33804-2050 - Telephone (863) 618-6919

Welcome to Lakeland Florida Monthly Market Report July 2008

Not much of a difference happened in terms of properties sold in Lakeland Florida for July 2008. The amount of units sold decreased slightly to 142 in July 2008 from the previous month of 149 homes sold. The average sold price for July was $165,063 in Lakeland, which is a decrease of 7% from the previous month. The time it took a home to sell was an average of 166 days. 

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 July 2008 was $165,063 and as you can see only 4 zip codes reached above average sales price (highlighted) for the month of July.

Lakeland's current inventory reached 2,336 of residential homes in active and 245 homes in pending status.  

Distressed properties are homes in pre-foreclosure, foreclosure, bank owned, as well as short sales - Of the 142 homes sold last month, 34 homes were sold with an average sales price of $108,256. Only 3 homes were sold the previous year, due to Short Sales and/or Foreclosures. We are always hearing the news about foreclosures, so let's take a look what currently takes place in Lakeland. There are currently 422 homes facing foreclosure, are bank owned or sellers trying to go through the long and tedious short sale process. However, 84 homes are in pending status waiting to close. What is the average price for these types of homes? The average price currently listed is $163,746. The priciest home currently on the market here in Lakeland is listed for $649,900 and the lowest priced home is $29,000.  

With well over 2,000 homes on the market in Lakeland alone, what does it take to sell your home? Pricing is the most significant factor to get your home sold.  Buyers interested in your Lakeland home will search your neighborhood until they find the best priced home.  Look around yourself in your neighborhood, which homes have sold recently and which homes are still on the market? Chances are homes priced well above are still lingering around and will be there for many more months. You definitely don't want to chase the market with lowering the price every 30 days.

Check out the graph here, there is still a big gap 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. August starting out promising with the gap closing in, hopefully it will continue so the supply will drop and demand will increase.

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

Winter Haven - 63 properties sold - average sold price $155,073 - average $89.91 per sq.ft.

Bartow - 14 properties sold - average sold price $118,679 - average $68.88 per sq.ft.

Mulberry - 12 properties sold - average sold price $130,800 - average $70.38 per sq.ft.

Auburndale - 11 properties sold - average sold price $137,755 - average $82.85 per sq.ft.

Polk City - 1 property sold - sold price $154,900 - $75.49 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 |

Welcome to Lakeland Florida Monthly Market Report July 2008

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

PO Box 92050 - Lakeland, FL 33804-2050 - Telephone (863) 619-6918

This blog is solely my point of view

Does Commission Really Play an Important Role on How you Choose a Lakeland Realtor®?

Are you a subscriber to Consumer Reports? I always like reading the reports and the various tests on auto, appliances, computers and such. The September's issue I received a couple of days ago released a survey, it's based on the Consumer Reports National Research Center's recent Annual Questionnaire of 3,753 readers who sold or tried to sell a home, 4,029 readers who bought one, and 7,368 readers who did both during the past few years.  According to September's issue "Paying a real estate agent a lower commission had no overall effect on the selling price." This survey compared consumers that negotiated a commission vs. consumers who did not attempt to negotiate the commission. But what was surprising to me in reading this article was that overall independently owned brokerage firms who likely provided the fewest services, but sellers who used them were just as satisfied.   

How should you choose your Realtor®?

• Experience
• Marketing Plan
• Listing Agreement

Granted the three attributes I pointed out do play an important role in choosing a Lakeland Realtor®.  Nevertheless, I would want to make sure that my real estate agent has great communication skills, listening skills and is trustworthy.

Communication skills are necessities for a Realtor® - communication between a seller and his or her Realtor® is the foundation of a successful relationship. Talking with sellers on a regular basis while the home is listed, giving them feedback on showings and activity, being accessible when Sellers have questions and just being there would be very helpful.

Listening skills is just as essential as communication skills. There are some real estate agents that tell buyers and sellers what they think they want to hear. Genuine honesty will go a long way and will build a relationship between a Realtor® and his or her seller. Understanding what a seller is saying is hearing what the seller is really saying.

Trust is earned. Trust can be build over time by talking with a potential listing agent and checking out their references before signing a listing agreement. Trust can also be given as a test by giving an assigned task and it must be continuously proven over time.

There are Real Estate Agent shoppers out there, who only look at the commission as their only argument for hiring. Are you one of them? Did you know that there are also Real Estate Agents out there who only show homes with a certain commission split?

Negotiating a commission is part of the listing agreement. An agent should provide you with a marketing plan that fits your neighborhood and your needs, which should be clearly discussed before you sign the listing agreement. There are agents that will negotiate the commission and there are agents that simply don't. I will not argue the negotiating here in this post and that is not the point I want to make. Also, it should not really play an important role on how you choose a Lakeland Realtor®.  As long as the attributes are there and you are satisfied during the course of the listing period, why does commission play such an important role in choosing a real estate agent?  You always can fire your real estate agent if you're not satisfied.

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

Does Commission Really Play an Important Role on How you Choose a Lakeland Realtor®?

 Petra Norris - CDV TransAtlantic, Inc. - Licensed Florida Real Estate Broker - P.O. Box 92050 - Lakeland, FL 33804-2050 - Telephone (863) 618-6919