Lakeland Real Estate ... News, Real Estate Tips.. Gate Arty

High-Water Mark for Foreclosures

Fri, 16 Oct 2009 12:04:44 -0700

Foreclosures are at an ALL-TIME HIGH. In the 3rd quarter of this year 937,84 homes received a foreclosure letter. How do you put this in perspective? Well, that means that 1 in every 136 homes were in foreclosure. That's a 5% increase from the 2nd quarter. It's also a whopping 24% leap from this point in 2008! These numbers represent the worst 3 month stretch in terms of foreclosures ever. The foreclosure toll this year is reported to be 623,852 & climbing. Perhaps with these numbers on the rise, banks will begin being more cooperative with short-sales? Wouldn't that be rational? Either way, the real estate investors will be back in full-force to pick up REO properties & pre-foreclosures that are indeed priced to sell. Check out investing opportunities at MidFloridaREO.com.

Don't forget to visit Central Florida's premier real estate website at www.GateArty.com for all your real estate needs!

Largest source for real estate listings in Polk County and all your Lakeland Real Estate needs including Lakeland Foreclosures. Call our team anytime at 863-680-9988 or you can search for Lakeland Florida homes for sale .

Sale Increase 4 Straight Months!

Mon, 24 Aug 2009 13:28:39 -0700

Existing home sales rose a whopping 7.2% in July to 5.24 million units. In June, there were 4.89 million units sold. This increase was the largest month-to-month gain in over 2 years! The percentage increase was the largest since 1999. This also marks 4 straight months that we have seen sales increases. Lawrence Yun, NAR chief economist, said, "The housing market has decisively turned for the better. A combination of first-time buyers taking advantage of the housing stimulus tax credit and greatly improved affordability conditions are contributing to higher sales." Remember that the $8000 stimulus tax credit runs through November so act NOW!

Don't forget to visit Central Florida's premier real estate website at www.GateArty.com for all your real estate needs!

Mortgage Deliquency Rises

Thu, 20 Aug 2009 15:18:00 -0700

The mortgage delinquency rate, which is defined as the percentage of mortgage holders who are over 60 days or more late on their payments, rose for the tenth consecutive quarter (thru 2nd QTR, 2009). It is now at an all-time high of 5.81%. How should we put this figure in perspective? Well, that is an increase of 65% from the same time period last year. Nevada, Florida, California, & Arizona led the way with the highest foreclosure rates. North & South Dakota and Alaska had the lowest rates.

Don't forget to visit Central Florida's premier real estate website at www.GateArty.com for all your Lakeland Real Estate needs!

Homes Getting Smaller - and it's not just in Lakeland Real Estate

Wed, 12 Aug 2009 16:02:43 -0700

We have all heard that the demand for new home construction has shrunk due to home buyers targeting foreclosures & short sales rather than building new homes. Did you know, however, that the actual size of new homes is shrinking as well? I mean literally. The U.S. Census Bureau reports that the median size of new homes has dropped to 2,065 square feet. This represents a 7% drop in size compared with this time last year. Most industry professionals attribute the reduction in home size to the economic downturn. "Home size gains flatten out or decline during recessions, and we're in the midst of the most serious housing recession in decades," said Kermit Baker, the chief economist for the American Institute of Architects.

Don't forget to visit Central Florida's premier real estate website at www.GateArty.com for all your Lakeland Real Estate needs!

First Friday - August 2009

Fri, 07 Aug 2009 15:38:33 -0700

TODAY, is August's version of First Friday & this month's theme is once again, the popular "Dog Days of Summer." For those of you that resemble your pooches, there is a dog/owner look-a-like contest. This contest will be held at FastFrame on South Kentucky Avenue. There will also be dog obedience skills competitions & training throughout the Downtown area.

Other First Friday events:

Local radio personality, Seth Mela from WLKF's Mayhem in the AM will be in Munn Park.
The SOFA KINGS will be jamming at the Garden Bistro between 6 pm - 8 pm.
Classic Car Show on Tennessee Avenue.
Lofty Ideas will be handing out free bandanas for the canines and samples of Italian ice.
Arts on the Park will have an art reception between 6 - 9 pm with the theme, "Long Days of Summer."
Mitchell's Coffee House will be featuring the photography of Jose Ramos.

See you there!

Don't forget to visit Central Florida's premier real estate website at www.GateArty.com for all your real estate needs!

Momentum for Home Sales

Tue, 04 Aug 2009 16:27:51 -0700

The Natiional Association of Realtors has reported that the pending home sales index rose again for the fifth consecutive month. It rose 3.6% (94.6 from 91.3) in June from May. The pending home sales index tracks signed home purchase contracts and is considered a leading indicator of activity. What is driving this upward momentum? Simply put, distress sales (like short-sales) & foreclosures continue to drive real estate prices downward to levels where buyers can no longer ignore the values. Most people consider this a "once in a lifetime" buyer's market. Let's look at some of the positives: record low interest rates, $8000 tax government credit, large selection of properties available for sale, & discounted property values. The time to buy is NOW!

Don't forget to visit Central Florida's premier real estate website at www.GateArty.com for all your real estate needs!

Foreclosure Report - June 2009

Fri, 17 Jul 2009 16:57:47 -0700

It appears that the wave of foreclosures is still building. Nationwide, there were 1.5 million foreclosures in the first half of 2009 alone. This represents an increase of 15% from last year. Foreclosure filings increased an astounding 33% in June from the year prior. Nevada is still the clear leader in foreclosures. Their foreclosure rate for the first half of 2009 was well over 6%. Rounding out the top 5 were Arizona, Florida, California, and finally Utah.

Don't forget to visit Central Florida's premier real estate website at www.GateArty.com for all your real estate needs!

Lake Mirror Fireworks & First Friday - July 2009

Fri, 03 Jul 2009 17:35:15 -0700

This month, our monthly First Friday celebration coincides with "Red, White & Kaboom!" So as usual, go to Munn Park and the adjoining areas for Downtown Lakeland's First Friday celebration beginning at 4 p.m., but make sure you stay for the fireworks . . . literally. Beginning around 6 p.m. you should make your way down to Lake Mirror & the Promenade. The popular local band, MillHopper will be playing music up until 9 p.m. when the fireworks are scheduled to begin. You can park in the city garages, as they will be open. There will be food & drink vendors during the festivities as well. See you there!

Don't forget to visit Central Florida's premier real estate website at www.GateArty.com for all your real estate needs!

Get Virtual Tours on Snap Tours for only $1/month

Wed, 01 Jul 2009 16:12:16 -0700

I thought I'd pass this along since it's a great deal. I've been working with this company as an alpha tester for the past several months. I've been getting free virtual tours the entire time in exchange for letting them know about issues I've had with the website (which honestly there haven't been many).

Now they are going into the Beta Testing phase and are offering virtual tours for only $1/month during the entire testing period plus free set-up (which I think is around $50/person). All you have to do is let them know of any issues you have while using the site. I think they are even offering a free lifetime subscription to the most active testers, but you'll have to check with them on that. They are charging the $1 to test their billing system to make sure it works right.

One of the best things about Snap Tours is that they have the ability to convert your virtual tours to video. I've been using that feature a lot and posting my listings on YouTube and even downloading them to my iPod to show customers when I'm out and away from my computer. I think you can download the videos onto any mobile video device, but you'd need to check with them.

If you're interested in signing up to be a beta tester, go to www.mysnaptours.com and click on the link that says "Sign Up Now." I think they are only accepting a limited number of testers (otherwise they'd be giving away free services to half of the Realtor community), so go on there today if you're interested. Use the code NEWBETA in the promo code area to get the deal. Good luck!

New Construction Sales Down

Fri, 26 Jun 2009 12:10:17 -0700

Sales of new construction homes fell 0.6% in May from April. The median home sales price was $212,600 in April, but rose to $221,600 in May. Meanwhile inventories of these new homes continue to fall to 292,000 units for the month of May. If sales were to hold at their current pace, it would take approximately 10 months to completely clear out the inventory of unsold homes. Builders have experienced intense competition & pressure from the sale of distressed properties & foreclosure that drive prices down, overall.

Don't forget to visit Central Florida's premier real estate website at www.GateArty.com for all your real estate needs!

Home Sales Rise in May 2009

Tue, 23 Jun 2009 13:06:24 -0700

The National Association of Realtors announced that existing home sales rose to 4.77 million units in May 2009. This represents a rise of 2.4% over from April. This is promising because it's the second straight month that sales have risen, undoubtedly spurred by attractive mortgage interest rates. The NAR announced that this is the first month-on-month increase since August/September 2005. The total hosing inventory stood at 3.80 million units, which represents nearly a 9.6 month supply, down from 10.1 in April.

Don't forget to visit Central Florida's premier real estate website at www.GateArty.com for all your real estate needs!

Foreclosure Property Search Made Easy

Fri, 12 Jun 2009 10:56:24 -0700

When real estate is discussed nowadays, it seems as if the topics foreclosures & short sales are never far behind. Government and Bank-owned foreclosures offer tremendous home-buying opportunities for investors of all types. These foreclosures are called REO (Real Estate Owned) properties. These distress sales have the savvy investors licking their chops as property values are once again affordable, & instant equity is attainable on a large scale. Now the only challenge investors have is actually finding & identifying great values underneath the mountains of available homes for sale. Well, if you are searching for homes in Central Florida, a new website, midfloridareo.com, has made it easy. If you are considering buying an investment property, or simply looking for a good bargain, I suggest checking out this site.

Don't forget to visit Central Florida's premier real estate website at www.GateArty.com for all your real estate needs!

Foreclosures in May 2009

Fri, 12 Jun 2009 10:54:14 -0700

Foreclosure filings dip for the month of May. RealtyTrac, a national leader of foreclosure data, announced that filings fell over 6% from April to May. Although a total of 321,480 properties received default notifications, which represents am 18% increase from a year ago, it is the smallest annual gain since mid-2006. There is a silver lining! Florida is still in the Top 3 nationally in foreclosures. Nevada has the most, followed by California. To put it in perspective, on average there is 1 foreclosure per 398 households nationally. In Nevada, that number is 1 in 64. That is 6 times the national average! California has 1 in 144 & Florida has one in 148.

Don't forget to visit Central Florida's premier real estate website at www.GateArty.com for all your real estate needs!

First Friday - June 2009

Fri, 05 Jun 2009 14:23:00 -0700

The theme for this month's First Friday event will be very familiar to fans of rock ‘n roll star, Alice Cooper. June's First Friday will be titled, "School's Out for Summer." If you have children I probably didn't need to tell you that though, right? As per usual, shops & restaurants open late. Music and entertainment along the streets and a Classic Car Show will be on Tennessee Avenue.

All along Kentucky Avenue you will found countless fun activities for the kids! Bubble-gum blowing contests, hula-hoop contests, water gun games, & an art contest. If the kids still have energy to burn, take them to the bouncy house. There will also be a DJ at Lloyd's of Lakeland, & face-painting at Lofty Ideas. Traditions Unlimited & Brooke Pottery will also host artistic-related activities. North Kentucky will feature fun geared toward adults. Popular local band, the Sofa Kings will be playing on the patio of the Garden Bistro next to Hollis Gardens on Lake Mirror.

Don't forget to visit Central Florida's premier real estate website at www.GateArty.com for all your real estate needs!

Lakeland Strongman Contest - 2009

Fri, 05 Jun 2009 14:20:20 -0700

Downtown Lakeland will host its 2nd Annual Strongman Competition on Saturday June 6th. The event runs from 11 AM - 6 PM. The contest will include an event where competitors will pull a 45-foot long, 14-foot tall, 62,600 pound luxury Fun Bike Center Bus the farthest down Kentucky Ave. There will be special appearances by Miss Florida, Mrs. Florida, & Mojo Girls. The competition will be sponsored by local restaurant, The Chop Shop. In addition to all the feats of strength, Tony Corbitt will be "speed painting."

See you there!

Don't forget to visit Central Florida's premier real estate website at www.GateArty.com for all your real estate needs!

Arts on the Park - June 2009

Fri, 05 Jun 2009 14:18:16 -0700

On Friday June 5th, Arts on the Park will open a new art exhibit featuring multi-cultural works of art by regional artists. The exhibit features art styles from various cultures including the Caribbean, African, Latin, Folk, among others. The reception will be held at 115 North Kentucky Avenue in historic Downtown Lakeland between 6:00 PM - 9:00 PM.

Don't forget to visit Central Florida's premier real estate website at www.GateArty.com for all your real estate needs!

Heather's Hope Tiger Trot - 2009

Fri, 05 Jun 2009 14:16:06 -0700

A new local non-profit organization will be holding its inaugural fund-raiser on Saturday June 6th at Joker Marchant Stadium. Heather's Hope Tiger Trot promotes awareness and prevention of domestic abuse through education & community service. The event is hosted by local baseball team, The Lakeland Flying Tigers. Activities will include a 5K run, Tigers baseball game, fireworks, teen dance, & other children's activities. The foundation preserves the memory of Heather Rimmer. Online registration at www.active.com.

Don't forget to visit Central Florida's premier real estate website at www.GateArty.com for all your real estate needs!

Keller Williams Realty Cleans Up, Literally!

Fri, 29 May 2009 15:18:34 -0700

The Keller Williams Realty office located in downtown Lakeland will be getting their hands dirty Saturday June 6th. As participants of the "Adopt A Lake" program, Keller Williams Realty will be cleaning up Lake Mirror. The festivities will begin at 9 a.m. The City of Lakeland will be providing garbage bags, garbage grabbers, vests, gloves, & nets. Refreshments will also be provided by Keller Williams Realty. Help keep our beautiful community clean!

Don't forget to visit Central Florida's premier real estate website at www.GateArty.com for all your real estate needs!

Lakeland Profiles - Hollis Gardens

Thu, 28 May 2009 16:24:44 -0700

Hollis Garden is a formal 1.2 acre botanical garden donated to the City by the Hollis Family. The garden is located on historic Lake Mirror accessible from the Lake Mirror Promenade or Orange Street. The garden contains several water features and displays thousands of flowering plants, ornamental shrubs, historic trees, herbs and vegetables. The garden may be rented for weddings. Hollis Gardens was voted one of the Best of Class Gardens by the Gulfcoast Research and Education Center.

Features Include:

Grotto

Koi pond

Fountains, waterfalls & lily pond

Tropical room

Two herb rooms

Vegetable room

Red room

White room

Yellow room

Native area

Butterfly garden

Orchard

Trees of Americana

Patterned flower beds

Lake Mirror Park is located on Lake Mirror in downtown. It is a historic structure listed on the National Register of Historic Places.

Don't forget to visit Central Florida's premier real estate website at www.GateArty.com for all your real estate needs!

National Real Estate Sales Increase Overall

Thu, 28 May 2009 16:22:03 -0700

The National Association of Realtors just announced that home sales rose a respectable 2.9% in the month of April from March. The increase can be attributed to the increased volume of sales in the "lower-end" market. I touched upon this in my last BLOG posting. The market for the "high-end" properties has been particularly slow. With the continued tightening of mortgage qualification standards, it is getting difficult to obtain "jumbo loans." Jumbo loans are defined as those mortgages above $730,000. These loans accounted for over 17% of the mortgage market in 2007. Now they account for only 5%. Another contributing factor is that Fannie Mae & Freddie Mac cannot purchase jumbo loans. The chief economist at NAR, Lawrence Yun, has lobbied for the Federal Reserve to buy jumbo loans to restore liquidity in this segment of the market as well.

Don't forget to visit Central Florida's premier real estate website at www.GateArty.com for all your real estate needs!

Commercial Mortgages Down

Thu, 14 May 2009 16:49:28 -0700

The Mortgage Bankers Association's (MBA) Quarterly Survey reports that commercial mortgage loan originations continued to drop in the first quarter of 2009. At this point, they are an astounding 70% lower than during the same period in 2008, and down 26% from the fourth quarter of 2008. The 70% overall decrease in commercial lending activity during the first quarter was driven by decreases in originations for all property types. When compared to the first quarter of 2008, the decrease included:

• 88% decrease in loans for hotel properties

• 80% decrease in loans for health care properties

• 76% decrease in loans for retail properties

• 66% decrease in loans for office properties

• 61% decrease in multifamily property loans

• 50% decrease in industrial property loans

Don't forget to visit Central Florida's premier real estate website at www.GateArty.com for all your real estate needs!

Foreclosures jump in April 2009

Wed, 13 May 2009 17:07:59 -0700

April was a huge month for foreclosures. RealtyTrac, an internet foreclosure marketing website, reported that 1 in every 374 homes in the United States received foreclosure filings in April. Foreclosures spiked an overwhelming 32% in April. An astounding 10 states accounted for 75% of all the foreclosure activity. What is your foreclosure top 10?

1. California with nearly 100,000 filings.

2. Florida

3. Nevada

4. Arizona

5. Illinois

6. Ohio

7. Michigan

8. Georgia

9. Texas

10. Virginia

Don't forget to visit Central Florida's premier real estate website at www.GateArty.com for all your real estate needs!

Polk County Public Safety & Crime Reports

Tue, 12 May 2009 20:56:54 -0700

Shopping for a home & not familiar with how safe the neighborhood is for your family? Central Florida's premier real estate website, gatearty.com, has unveiled a NEW feature. The new Crime Tracker link offers up an overview map with records of criminal activity. This handy tool even allows you to enter an address to see if there has been any recent criminal activity in the area.

Other features on the Public Safety tab of the page include:

Animal Control
Emergency Management
Lakeland Fire Department
Lakeland Police Department
National Hurricane Center
Polk County Sheriff
Sex Offender Search

Don't forget to visit Central Florida's premier real estate website at www.GateArty.com for all your real estate needs!

Lakeland Profiles - Lake Mirror Promenade

Tue, 12 May 2009 16:41:21 -0700

Lake Mirror & its Promenade are considered the crown jewel of historic Downtown Lakeland. This community recreation area was the vision of Tom Appleyard, the manager of the Lakeland Chamber of Commerce in the early 1920s. Charles W. Leavitt, the noted New York landscape architect, eventually brought Appleyard's vision to reality. Its hallmark seawall, ornate loggias, and the wide palm-lined pedestrian pathways make this lake visually stunning and architecturally distinct.

The Promenade, which has been listed on the National Register of Historic Places since 1983, has often been the hub of local festivities of Downtown. Lake Mirror is surrounded by Kryger Overlook Park, Barnett Family Park, Magnolia Building, Lake Mirror Tower, Hollis Gardens, & the Lake Mirror Complex. Lake Mirror Park and amphitheater were dedicated in the fall of 1999 and Hollis Garden opened in 2000 on the southeast shore. Albert Paley's "Tribute to Volunteerism," a conspicuously ornate & colorful sculpture, crowns the northeast shore.

Don't forget to visit Central Florida's premier real estate website at www.GateArty.com for all your real estate needs!

Lakeland Profiles, Art - Swansation & Kaleidoscope Butterflies

Wed, 06 May 2009 15:05:41 -0700

Lakeland has long been known for its appreciation of public art projects. Two such projects are the "Swansation Art Project" and the "Kaleidoscope Butterflies in Flight." The intent of both projects were centered around civic awareness with the swan art benefiting local non-profits & the kaleidoscope project benefiting the CommonGround Park.

Swansation is a public art project in originating in downtown Lakeland responsible for bringing the community together to celebrate one of Lakeland's most well known celebrities, the swan. This unique charitable project benefits local nonprofit organizations. The majestic swan, widely considered the mascot of this culturally rich community, is prevalent in much of its landscape. From murals, to pictures, & even sculptures, the swan lives not only at Lake Morton, but also in the hearts of the local residents.

Kaleidoscope, Butterflies in Flight is responsible for the numerous distinct butterfly sculptures throughout Lakeland. Originally intended as a fundraiser modeled after the highly successful Swansation public art project which took place in 2002, Kaliedoscope has become a integral part of the Lakeland art landscape.

Kaleidoscope's four to eight foot aluminum butterfly sculptures are mounted on poles and displayed throughout Lakeland. The butterflies were transformed into unique works of art by local and regional artists. This public art project was designed to enrich cultural activity and positively impact the Lakeland community through a uniquely different charitable event.

Kaleidoscope Butterflies in Flight is a fundraiser for the construction of CommonGround, Polk County's first "inclusive play experience." Children of varying abilities and disabilities will be able to play together side by side in a play environment. The park itself will be in the shape of a butterfly, a symbolic representation of the individuality and unique character of every child. It will be one of six such playgrounds in Florida and only one of these inclusive playgrounds is currently open to the public. The playground will be located in Edgewood Park near the corner of Edgewood Drive and Buckingham Avenue.

Don't forget to visit Central Florida's premier real estate website at www.GateArty.com for all your real estate needs!