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Lakeland Florida Real Estate Update - 01/01/10-01/15/10

Lakeland Florida Real Estate Update - 01/01/10-01/15/10

Update for the Lakeland real estate market! Currently, there are 1903 homes for sale throughout Lakeland – as of 01/28/10. Newly listed homes for the period of January 01st through January 15th jumped to 166 Lakeland homes recently listed. The average sales price of Lakeland homes listed with area Realtors® for decreased to $162,992 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:

2 duplex units with an average sales price of $82,000

4 condos listed with an average sales price of $105,425

15 mobile homes listed with an average sales price of $71,400

2 Townhomes/Villas listed with an average sales price of $67,400

143 single family homes with an average price of $176,679

 

For a more detailed report such as homes listed by zip codes and distressed properties please continue to read by clicking this link

 

Petra Norris - REALTOR®, SFR
Managing Broker - CDV TransAtlantic, Inc.
 
CDV TransAtlantic Inc
(863) 619-6918
 
0 comments • Petra Norris - Lakeland Florida Realtor® Lakeland FL Homes for Sale • January 28 2010 06:24PM

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

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

Lakeland Pig FestHi 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 14th 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.

 

 

Petra Norris - REALTOR®, SFR
Managing Broker - CDV TransAtlantic, Inc.
 
CDV TransAtlantic Inc
(863) 619-6918
 
8 comments • Petra Norris - Lakeland Florida Realtor® Lakeland FL Homes for Sale • January 24 2010 01:33PM

Loan Modification Program failed miserable in Florida

Loan Modification Program failed miserable in Florida

Loan Modification Program - A nighmare!Florida Homeowners hold on to their property with a needle and a thread, hoping for a loan modification under The Making Homes Affordable program.  According to the Florida Realtor’s website, only 8,405 in Florida get mortgage modification. This is simply pathetic and a nightmare!

Here are some basic rules to qualify:

  • The property must be owner occupied with the owner still living in the home
  • The borrower must have sufficient income to support the new mortgage debt
  • The first mortgage may not exceed 105% of the current market value of the property. For example if the property is worth $200,000, the borrower must owe $210,000 or less.
  • The borrower/homeowner monthly housing expenses (PITIA), defined as principal, interest, taxes, insurance and association dues must be more than 31% of gross monthly income.

These are the reason, in my opinion, why this loan modification program was doomed from the beginning:

  1. Property values in Florida declined at a staggering rate of 30%, 60% and even 80% in some areas, since the housing boom of 2005. Making it impossible to qualify based on current market values/mortgage ratio.
  2. High unemployment rates in Florida
  3. Homeowner must have income to qualify for this program.
  4. Bureaucracy

 

Short Sales do close in Florida and if you are looking for more information about Short Sales, I invite you to visit www.shortsalesuperstars.com a forum for homeowners and real estate agents that deal with short sales on a daily basis and where I am a member.

 

 

Petra Norris - REALTOR®, SFR
Managing Broker - CDV TransAtlantic, Inc.
 
CDV TransAtlantic Inc
(863) 619-6918
 
25 comments • Petra Norris - Lakeland Florida Realtor® Lakeland FL Homes for Sale • January 19 2010 11:42AM

Lakeland Real Estate Housing for December 2009

Lakeland Real Estate Housing for December 2009

Lakeland ended the year on a high note in sales. With 194 homes sold overall, the month of December proved to be the best month for 2009.  

Lakeland Homes sold in December: 194 - previous month:  174 – previous year December 08: 136 sold

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

Zip Code

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Total

33801

20

12

15

21

13

16

17

12

20

27

20

31

224

33803

11

10

16

18

16

19

26

19

22

25

20

24

226

33805

12

11

12

9

5

10

14

14

8

14

12

14

135

33809

13

12

16

11

18

17

16

17

25

17

21

23

206

33810

25

31

34

31

46

37

40

33

42

46

43

40

448

33811

10

16

17

18

18

22

20

15

22

15

18

17

208

33812

10

5

8

13

7

9

16

15

10

9

13

14

129

33813

9

25

27

28

26

33

35

38

29

22

24

25

321

33815

5

3

7

5

7

6

4

3

5

2

3

6

56

Total

115

125

152

154

156

169

188

166

183

177

174

194

1953

 

While home prices are at 2004 level and still showing signs of downward market adjustments, the adjustments for December compared to last years figures are no longer in double digits.  I suspect in the coming month that we see the market will stabilize. Distressed properties continue to influence market values for Lakeland Real Estate.

Lakeland Real Estate Market in Pictures

 

December - average sales price $123,865

Previous month: $122,590 (+ 1%) – previous year December 08: $134,370(-7.82%)

December - median sales price $113,950

Previous month: $119,000 (-4.24%) – previous year December 08: $125,420 (-9.15%)

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

Lakeland Real Estate

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 Real Estate

Distressed properties in Lakeland, Florida

For the month of December, Lakeland’s real estate market of distressed homes and bank-owned (REO) properties had a market share of 53%. There were a total of 103 properties sold in December 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 49 days
  • Average days on market (DOM) for other distressed properties are 146 days.

28 Distressed Homes Sold - average sold price $118,425 – median sold price $122,000

75 Bank-owned (REO) sold – average sold price $94,819 – median sold price $80,000

 

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.

Your Lakeland Home Search

 

Petra Norris - REALTOR®, SFR
Managing Broker - CDV TransAtlantic, Inc.
 
CDV TransAtlantic Inc
(863) 619-6918
 
1 comment • Petra Norris - Lakeland Florida Realtor® Lakeland FL Homes for Sale • January 18 2010 05:03PM

Polk County Florida – Save Money by Filing Property Tax Homestead Exemption

File Homestead Exemption Early - Save Money!

Beat the rush and file your Polk County property tax homestead exemption on your home early, because – believe it or not - March 1st, 2010 deadline is fast approaching.

If you took residency on your newly purchased home after January 1, 2009, which includes mobile home if the land the mobile home sits on is owned by the same owner.  You surely want to file for a 2010 property tax exemption, also known as homestead exemption.  In addition, you may qualify for an additional $25,000 homestead under Amendment 1 which began with 2008 tax year for a total of $50,000. 

Have you owned a home previously in Florida? You may be eligible for “Save our Home”.  Saving money these days is on everybody’s mind – there are other ways of qualifying for additional savings:

Amendment 7, which was voted by Florida voters on November 7, 2006 and is intended to be an additional discount on taxes owed after all other ad valorem tax exemptions are computed for eligible veterans 65 years and older.

Senior exemption, widow, disability, veterans and total exemption – if qualified you may be eligible to save up to $5,000. Widow or widower must provide a copy of their late spouse’s death certificate. Disability exemptions applicants must provide an attest from a certified Florida physician.  Veteran exemptions applicants must show proof of percentage (minimum 10%) of service-connected disability from the U.S. Department of Veterans Affairs.

First-time homebuyers filing for homestead exemption must apply in person and bring their recorded deed and proof of residency, such as Florida drivers’ license, Florida voter registration, Florida vehicle registration or resident alien card. Applicants filing for any exemption are required to present their Social Security cards.

Where to file?

Bartow Office

255 N. Wilson Ave Phone: 863-534-4777

Bartow, FL 33830 Fax: 863-534-4753

Hours: 8:30am-5:00pm (M-F)

 

Lakeland Office

912 E. Parker St. Phone: 863-413-2549

Lakeland, FL 33801 Fax: 863-413-2550

Hours: 8:30am-5:00pm (M-F)

 

Winter Haven Office

3425 Lake Alfred Rd. Phone: 863-401-2424

3 Gill Jones Plaza Fax: 863-401-2428

Winter Haven, FL 33881 Hours: 8:00am-5:00pm (M-F)

Web site: http://www.polkpa.org

 

Petra Norris - REALTOR®, SFR
Managing Broker - CDV TransAtlantic, Inc.
 
CDV TransAtlantic Inc
(863) 619-6918
 
3 comments • Petra Norris - Lakeland Florida Realtor® Lakeland FL Homes for Sale • January 12 2010 04:25PM

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

Lakeland Real Estate Update - 12/16/09 through 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 16th through December 31st 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

For a more detailed report such as homes listed by zip codes and distressed properties please continue to read by clicking this link

 

Petra Norris - REALTOR®, SFR
Managing Broker - CDV TransAtlantic, Inc.
 
CDV TransAtlantic Inc
(863) 619-6918
 
1 comment • Petra Norris - Lakeland Florida Realtor® Lakeland FL Homes for Sale • January 08 2010 12:14PM