How Many Lakeland FL Short Sales Are Closing?
At one of my recent listing appointment with a distressed homeowner, they asked me how many short sales in Lakeland Florida are closing because we always hear the horror stories in the news, from family and friends.
There are currently 1741 homes that are actively being marketed and pending. They are single family homes, condos, villas, town-homes and duplex units. Of those 1741 homes, only 625 homes are short sales, which calculates to only 36%. Of the 625 Lakeland Fl Homes that are short sales, 34 are listed “active with contract”. An active with contract has at least one executed contract from an interested buyer. 305 short sale homes are under contract.
Let’s take a look at short sales that have closed in Lakeland FL so far this year:
A total of 253 homes in Lakeland FL have had a successful short sale closing so far this year, compared to 203 homes the previous year for the same time period. The average list price for those sold was $111,104 and the average sold price was $104,925 that calculates to a ratio of 94%. The average time on the market for a Lakeland Florida short sale until the home has a contract in place is 159 days, that is less than six months. Add the time once the short sale has a fully executed contract, it takes an average of 94 days to close on a Lakeland FL Short Sale.
Since Lakeland FL foreclosures are being taken by mostly cash buyers and inventory is low, a Lakeland FL short sale may be your best option to a great deal. Patience is however still required!
I suspect the low inventory in Lakeland is a result from either distressed seller ignoring the fact that a short sale may be their only best option to avoid foreclosure, ignoring their bank’s letters and/or don’t want to deal with as the numbers of filing notice of default (Lis Pendens) is double the amount of short sales currently for sale in Lakeland.
Don’t let time work against you! Take action today by making the call!
If you are considering an experienced Lakeland Florida short sale agent, please call for a personal and confidential telephone consultation at (863) 619-6918. As for any real estate transaction, I recommend to consult with your attorney and/or tax advisor.
IMPORTANT NOTICE: CDV Transatlantic,Inc. is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan. If you stop paying your mortgage, you could lose your home and damage your credit.
Copyright © 2011 By Petra Norris *How Many Lakeland FL Short Sales Are Closing?*
Managing Broker - CDV TransAtlantic, Inc.
(863) 619-6918
