Lakeland FL Short Sale and Foreclosure Market Report – August 2011
For the month of August, the Lakeland real estate market of short sales and bank-owned (REO) properties have rose well above last month sale. There were a total of only 107 distressed homes sold that were in some kind of distress, compared to the 69 homes the previous month and 110 home the previous year.
Current inventory for Lakeland foreclosures as of 9/26/11 is at 71, while 92 homes currently are under contract and awaiting closing.
What are the price ranges, buyers and investors are most interested?
Lakeland Foreclosures Market Report
$49,999 or under - 25 homes
$50,000 - $99,999 - 22 homes
$100,000 - $149,999 - 7 homes
$150,000 - $199,999 - 4 homes
$300,000 - $349,999 - 1 home
$400,000 - $499,999 - 1home
$600,000 - $699,999 - 1 home
Current inventory for Lakeland Short Sales as of 9/26/11 is at 334 homes, while 348 homes are under contract and waiting to close.
Lakeland Short Sales Market Report
$49,999 or under - 16 homes
$50,000 - $99,999 - 16 homes
$100,000 - $149,999 - 8 homes
$150,000 - $199,999 - 2 homes
$200,000 - $249,999 - 1 home
$400,000 - $499,999 - 1 home
The Graph below compares sold homes in all categories – Traditional Sales (None Distressed), Lakeland Foreclosures (REO) and Lakeland Short Sales.
- Average days to Closing for bank-owned properties are 122 days
- Average days to Closing for other distressed properties are 229 days.
- 44 Lakeland FL Short Sale properties sold - average soldprice$79,302 – median sold price $63,000.
- 63 Lakeland FL Foreclosures (REO) sold – average sold price $92,839 – median sold price $64,000.
Since January 2011, 544 properties received some sort of default notice, summons and/or complaint filings from the clerk of courts and with only 69 foreclosures on the market this shows that most of Lakeland homeowners trying to get loan modifications or just living in their homes not making a single mortgage payment.
Don’t let time be against you. Don’t be foreclosed. Call your Lakeland FL Short Sale Agent - Petra Norris at (863) 619-6918 and find out about our options.
hope you found this post useful! If you need help finding or selling your Lakeland, Florida home, please contact Petra Norris - REALTOR(R) at 863-619-6918. If you’re new to Lakeland, I’d especially like to extend a warm welcome. I value my clients and provide them with honest, reliable service. Allow me to introduce you to the Lakeland FL real estate landscape and all it has to offer.
Copyright © 2011 By Petra Norris *Lakeland FL Short Sale and Foreclosure Market Report – August 2011*
Managing Broker - CDV TransAtlantic, Inc.
(863) 619-6918
Hi Petra. Thanks for sharing a market report of Lakeland Fl! I see that there was an increase in distressed homes... Sellers in Lakeland, especially those in short sale, should consult your expertise as Lakeland FL short sale agents as you have the knowledge and the experience to make the short sale process easier for them.
Petra, thanks for sharing a market report of Lakeland Fl's short sales and foreclosures. Buyers and sellers will definitely find this report useful as it not only provide all important information but your expert opinion as Lakeland Fl Short Sale Agents. Great post!