This article is a must read! It is quite extensive and worthy to read every bit of it.

It does not only affect my Real Estate Business as this headline says. It affects you, the homeowner, your sons, your daughter, and yes even your grand-kids in the future if this bill gets its final vote.

 

Via Nestor & Katerina Gasset Realtors® Wellington Florida Luxury Homes (International Properties and Investments, Inc.):

Real estate is local when it comes to market conditions and market trends. Real estate differs from region to region in styles, architecture and amenities generally speaking. For instance; in Florida fireplaces are not the norm whereas in cold winter areas such as Colorado, fireplaces are a standard addition to a home. In some areas of our country people have wood burning stoves and others have coal burning furnaces. There are areas of our country such as here in Florida where you would not dare live without Air Conditioning but in many homes in Washington for instance, air conditioning is more of a luxury than a necessity.

So when we are discussing the effects of cap and trade in your real estate business you will need to take into account the region in which you live as some areas will be more effected than others. 

Here is a really good interactive map from the New York Times. The map I posted below is the map of the votes in the House for and against the Cap and Tax bill that just passed the House. But if you click on the link of the New York Times map, it is interactive.

cap and trade house vote new york times

 

You can move your mouse over the map and see who voted, what party they belong to and their district. You will be able to see that no matter whether they were democrats or republicans if they are in the farm country of America, high manufacturing areas of America, low energy bills of America and the heartland of America- they voted NO on this bill and for very good reasons. 

"For a household of four, energy costs go up $436 that year, and they eventually reach $1,241 in 2035 and average $829 annually over that span. Electricity costs go up 90 percent by 2035, gasoline by 58 percent, and natural gas by 55 percent by 2035. The cumulative higher energy costs for a family of four by then will be nearly $20,000.

But direct energy costs are only part of the consumer impact. Nearly everything goes up, since higher energy costs raise production costs. If you look at the total cost of Waxman-Markey, it works out to an average of $2,979 annually from 2012-2035 for a household of four. By 2035 alone, the total cost is over $4,600." Heritage Foundation.

You will notice that the states where the votes were yes are also the states that already have the highest energy bills. The states that voted no are mostly states with presently low energy bills.

Instead of calling this to Cap and Trade- We can really call it the Tax On Electricity Bill.

How does this information pertain to real estate agents? If you live in the lower energy pricing states you are going to be seeing huge increases in household energy bills. If you live in states that are coal powered or oil powered you will see the largest increases ever in your energy bills because those energy sources are going to be punished with taxation.

  • How is that going to effect home prices?
  • How is that going to effect movement in and out of your state?
  • How is that going to effect your real estate office utility bills and who is going to pay for this?

The House is at it again. This was a 1,300 page bill and again as with so many large bills was not read by most of those that voted yes or no. What is it that they don't get? The American people expect our leaders to read what they vote on.

So what else is tucked away neatly into this bill that perhaps no one knows the full implications of yet?

How about the Federal imposition and takeover of building codes? Your local planning and building offices will not be qualified for any Federal funding of any kind unless they adopt what the FEDS say is the new energy efficient building standards. This will create higher prices in building new homes which is then passed on the homebuyers and then you as a real estate agent are also effected because less buyers will be able to afford to buy a new home built . Not to mention having to wait for the Feds to come and inspect the builders and the homes.

How about the new Federal Energy Nazis Inspectors who will come and rate your home before you can sell your home. So before you can list a home for sale, the seller will have to wait for the Federal inspectors to come out. DMV lines anyone? Once that inspector comes out, he or she will give the home an energy rating. If the home does not meet the guidelines the seller will be required to do the work necessary to bring the home up to energy standards before they can sell the home! Can we say money? Does that mean that there will be homeowners who will become prisoners in their homes because they can not afford to make the energy repairs that the feds require? Is that an invasion of your privacy as well as an attack on your property rights?

Hmmm, how is that going to effect short sales where the seller has no money to make the repairs and adjustments?

  • How is that going to effect your ability to get listings in a timely manner?
  • How is that going to effect your seller who is about to lose their home in a foreclosure?
  • How is that going to effect the seller who has to relocate for their job?
  • How is that going to effect the estates with heirs having to do these repairs and such when there won't be any money until the estate is sold?

I wonder if our House of Representatives and our Congress men and women EVER thought to actually ask us in the field working this business day in and day out how these bills will effect the housing market?

Of course, the US will be living Cap and Tax while the real perpetrators of dirty air like China and India get off scott free. There will be an unfair advantage in pricing products and manufacturing to the point that if a US company even stands a chance of staying in the manufacturing business will have no choice but to move their company oversees which in turn will cause a massive layoff of people increasing the already high unemployment problem we are facing in our country.

  • How will the unemployment effect your real estate business?
  • How will the unemployment effect the REOs and massive foreclosures in your community?
  • How will the unemployment effect home values as you get more and more vacant properties in your area?

If you are an agent in America's farmland you will begin to see farms no longer being able to produce a profit. Farms use a lot of energy. Energy use will be punished. This is why nearly every politician from a farm land state no matter what party they are affiliated with voted no to this bill. Their districts will suffer terribly. As this happens we will be buying more and more produce from other countries with far less health standards than our own. I don't trust foods, especially produce from China or other countries except Europe. But we don't import our veggies from Europe! 

  • How is this going to effect your real esate business if you live and work in a farm land state?

When it comes down to the nitty and the gritty about this bill you must remember that GE is the biggest supporter of this bill. They stand to make billions of dollars from the passage of this bill. The politicians voting yes on this bill, many of them are getting paid to vote yes. And Al Gore will become the very first GREEN billionaire. It is just too bad that he is not a real capitalist. He could not become a billionaire playing fair and square. Instead, he has an unfair advantage, legislation to make him filthy rich. Not exactly the free market way. It is all about the money.

Contact your Senators now to vote NO now. Click on this link to find your Senators and contact them by email, phone and fax today. Let them know how this is going to effect your business and your community homeowners and buyers. Pass this on...

 

 

Lakeland Local Events – First Friday, Red White and Kaboom, Independence Day

Lakeland Florida is the place to be for this weekend’s 4th of July holiday celebration and local events are the best Family Entertainment.

First Friday is celebrated on the first Friday of every month and this free event is themed “Sundown Celebration”. It’s happening downtown Lakeland around Munn Park (Kentucky and Tennessee Avenue) July 3rd, 2009 starting at 4 p.m. – an hour early this time just because it is a holiday and you should have an early start to share this wonderful celebration with your family Downtown Lakeland.

A classic car show will also take place, just like every month with some great looking cars.

First Friday - Classic Car Show

Kentucky Avenue will be closed for bounce houses, kiddie train, and cake eating contests, face painting, hula hoops, sidewalk chalk and many more activities planned by our local merchants. Shops stay open late and downtown restaurants will have outdoor seating on Kentucky Avenue for you and your family to enjoy an evening dinner before heading down to Lake Mirror for the  Red, White & Kaboom celebration

Airbrush tattoos and balloon artists will add to the fun.  Some of these activities will require the purchase of tickets.  

This month’s art reception takes place at Mitchells Coffee House on N. Kentucky Ave. featuring local photographer Jon Boring from 6-9pm. Not to forget, if you are an arts enthusiast there is an art reception at Arts on the Park on N. Kentucky Ave. every month during First Friday from 6-9pm.

Speaking of Red, White & Kaboom celebration, this celebration almost did not happen with the economy

Lake Mirror - sunset

being blamed. Local Sponsors came through giving its citizens and folks visiting Lakeland, something to look forward to in the celebration of Independence Day.

This event takes place almost simultaneously with First Friday starting at 6:00 p.m. with live music – pop/rock sounds by the popular local band MillHopper.  Plenty of drink and food vendors will be displayed around Lake Mirror. So, just bring your blanket or lawn chairs and enjoy this wonderful family celebration at the Lake Mirror Promenade.

Around 9:00 p.m. a spectacular firework display will round out the first day of the 4th of July celebration – Trust me, you don’t want to miss this event!

 

 

Fireworks display two days in a row only happens in Lakeland

The celebration continues on Saturday, July 4, at the Joker Marchant Stadium. There will be a dazzling display of fireworks around 9:00 p.m. following the Lakeland Flying Tigers vs. the Tampa Bay Yankees baseball game. Joker Marchant Stadium, the home of the Detroit Tigers during Spring Training, is located at 2301 Lakeland Hills Boulevard in Lakeland.          

Happy Independence Day - America!!!

Firework DisplayHappy 4th of July!

 

The average sales price of $124,689 ($71.01 per sq.ft.) continues to dive for May at 23% from the previous year for Lakeland Real Estate. However, last month sold prices dropped only 2.66% from the previous month.  The good news is that the number of homes sold is steady for the past three months, increasing at a small rate to 156 Lakeland residential real estate sold in May compared to 154 homes sold the previous month.

Lakeland Real Estate May 2009 Report

 

Analysis of the type of homes being sold shows Lakeland’s primary real estate market is single family homes with median sales price of $125,000. This pricing trend makes Lakeland with it’s centrally location between Tampa and Orlando very affordable when comparing to Florida’s median price of $144,400.

 Lakeland Real Estate May 2009 Report

 

 

Let’s break it down for you to see the supply and demand for common properties for sale versus the distressed market.

Common properties only – Inventory active and pending 1729 homes resulting in 20 month of supply.

Distressed properties – Inventory active and pending 780 homes resulting in an 14 month supply.

Bank-Owned properties continue to influence Lakeland Real Estate

Since the beginning of the year, distressed homes and more importantly the bank-owned (REO) properties still play a major role in the sales activities here in Lakeland with 61 properties sold in May and recorded in our Mid-Florida Regional MLS.

With close to 2448 properties currently for sale and pending, we are experiencing approximately a 17 month of supply for the regular homes and distressed homes. Supply and Demand Theory -I have also noticed that our inventory is slowly shrinking with less than 2000 Lakeland Homes for Sale as of June 29th, 2009. This is good news for Lakeland Real Estate as inventory decreases, the demand will increase.

Of the 156 homes sold last month in Lakeland, 61 distressed homes were sold with an average sales price of $91,289 ($56.38 per sq.ft.) compared to only 27 homes that were sold the previous year, due to Short Sales and/or Foreclosures.  To break it down even further, of the 61 distressed homes sold in Lakeland 47 were Bank-owned properties (REOs).

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 May 2009 Report

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

 

 Lakeland Real Estate May 2009 Report

For more information on the location of these sold properties in Lakeland, price and size of the home click on map picture which leads you to the interactive Community Walk map created by Chuck Welch of Lakeland Local.

Lakeland Real Estate Map - Sold May 2009

 

 

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

Winter Haven - 77 properties sold - average sold price $120,959 - average $63.33 per sq.ft.

Bartow - 12 properties sold - average sold price $119,707 average $71.07 per sq.ft.

Mulberry - 16 properties sold - average sold price $109,089 - average $65.21 per sq.ft.

Auburndale – 20 properties sold - average sold price $105,992 - average $57.67 per sq.ft.

Polk City - 3 properties sold – average sold price $160,166 - $78.62 per sq.ft.

Lake Alfred – 13 properties sold – average sold price $91,758 - $48.94 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.

 

Home Search

 

Just the other day as I was reading The Ledger - Letter to the Editor - from a couple who moved to Lakeland in a couple of years ago. They expressed their gratitude and appreciation for Saturday night's Lakeland Flying Tigers baseball game that was followed by a spectacular fireworks display.

I thought I would share with you in this article what the Flying Tigers are all about to support our local community whether you have lived here and perhaps have not realized that you can enjoy baseball year-round or thinking about a move to the Lakeland area.

Lakeland Flying TigersFlorida and Spring Training. They’re synonymous. But when the Detroit Tigers MLB baseball club leaves for the regular season, the Lakeland Flying Tigers keep the baseball activity at Joker Marchant Stadium alive.

The Lakeland Flying Tigers are a minor league baseball team located here in  Lakeland, Florida. The Flying Tigers are part of the Florida State League and have enjoyed a relationship with the Detroit Tigers as their High-A affiliate since 1967.

This is a big deal, since theirs is one of the longest unbroken Major League Baseball affiliate relationships still in existence. The Flying Tigers play in the Florida State League – a Class A-Advanced Minor League Baseball league operating in connection with Minor League Baseball but as a independant entity all the same.

Click here to continue to read

 

My first ever article I wrote about Lakeland, Florida titled "I love Lakeland" was indeed short and sweet. Today, I want to take the time and elaborate more about Lakeland in greater detail and express to you what makes this town special.

  • What Lakeland has to offer?
  • What makes this city so special?
  • Is there a place for you?

Since residing for almost 16 years here in this charming and beautiful town in Lakeland, I have come to the realization that “there is no place like home”.  Just between Tampa and Orlando with a growing population of over 93,000 Lakeland is located in Polk County – voted in 2007 as the All-American County.

Did you know that in 1883 Lakeland’s citizens were to name their town Munnville in recognition of Abraham G. Munn, a Kentucky businessman who purchased 80 acres which the town was located? I’m so glad that he declined the honor and eventually a more adequate name was sought out, due to the serenity of the many lakes surrounding this great community in Central Florida – the Lovely City of Lakes became “Lakeland”

What Lakeland has to offer?

Lakeland Florida - Lake Hollingsworth

Lakeland has 38 named lakes – the most visited lakes are near downtown Lakeland at Lake Hollingsworth – 3 miles of prime location for jogging, bicycling, walking, exercise and nature, Lake Mirror – a great place of art and design with the background of the botanical Hollis Garden & Barnett Park, Lake Morton - the trademark location for our mute swans, wild life and bird sanctuary. From the ½ mile circumference of Lake Wire and the 22 square mile of Lake Parker – each and every lake is unique providing its residents with great recreational opportunities.  Lakeland has the appeal of small town flair with its big city sophistication.

Lakeland Florida - Munn ParkThe downtown Lakeland location including the Dixieland neighborhood and various districts such as Lake Morton Districts has undergone extensive renovation influenced by its own charm, constructing pedestrian friendly walking areas. Moreover, predominantly enhancements were completed with gorgeous manicured lawn around Munn Park and the Antique District.

A fine collection of specialty shops, such as art galleries, boutiques, antique stores and a General Store, as well as exceptional dining facilities and cafes that enhances the quality of the City of Lakeland are all within leisurely strolling distance of Munn Park.

What makes this city so special?

Lakeland Florida - Swan DerbyAnnually, the city of Lakeland in conjunction with local sponsors hosts a number of fairs and festivals throughout the year. Each spring, one of the nation's largest conventions, the Sun n’Fun Fly-In is held in Lakeland, drawing nearly 150,000 aviation enthusiasts from around the world, making Lakeland’s Regional Linder Airport one of the busiest airports in the world during this event. The downtown area is the site of many of the town's activities, such as First Fridays, Farmer’s Market, Maifaire by the Lake, classic car shows, Lakeland Red, White & Kaboom – 4th July celebration, annual Christmas parade in December.

In recent years Money Magazine ranked Lakeland at the 10th “Best Place to Live in America" among medium sized cities in the South, referring to issues such as affordable housing, public safety, modern health care and school systems. The city also enjoys an ideal subtropical climate that averages a balmy 72 degrees per year. With such a pleasant climate, outdoor activities are extremely admired in Polk County.

Lakeland Florida - Community TheaterLakeland residents tend to be highly involved in the community. The numerous volunteer groups and service organizations in the area have a strong presence in Lakeland and it shows when visiting such venues such as the Lakeland Community Theater, The Imperial Symphony Orchestra, SPCA, Lakeland Habitat for Humanity, Lakeland Volunteers in Medicine, just to name a few.   

Lakeland is known to its residents when being asked where you live in Lakeland to give an answer to live in North Lakeland or South Lakeland. To me there is no distinction or separation between the two besides the name; living in North Lakeland or South Lakeland has many valuable aspects and while I have traveled the roads of Lakeland, each location and each neighborhood brings value and its own characteristics to the city of Lakeland, which why I call Lakeland as “there is no place like home”.   

Is there a place for you?

You may now recognize that Lakeland has plenty to offer, nonetheless its closeness to Orlando and Tampa provide its residents with the opportunity to visit such notorious attractions as Walt Disney World, Universal Studios, Busch Gardens, Sea World and Epcot. While visiting the Kennedy Space Center, the Daytona Speedway and the white sandy beaches of the Gulf of Mexico and the Atlantic Ocean you may realize that Lakeland is the perfect fit for you.

Lakeland Florida - Hollis GardenThe City of Lakeland’s financial stability along with many local contributors and philanthropists providing support for its citizens quality health care, convenient public transportation, an established public school system, and great inexpensive tourist attractions, such as the beautiful Hollis Botanical Garden and the adjacent Barnett Park, the Polk Museum of Arts, the world’s largest collection of Frank Lloyd Wright at Florida Southern College, and the Florida Air Museum, just to name a few.   

Majority of the Lakeland resident’s workforce finding employment in the wholesale and the retail trade sector, as well as in the manufacturing, production, mining, tourism, distribution and service industries.

Lakeland Florida - Lakeside Village

Lakeland, Florida may well just be the biggest little small town in America. With a cozy feel, friendly neighbors, and surely something to offer residents of all ages, Lakeland is truly one of America's finest cities that I call home.

Lakeland Florida

Have I enticed you yet! Well, if you are thinking about moving, consider Lakeland, Florida!

Lakeland Florida Home Search


Want to know more about Lakeland, Florida?

Check out these links!

 

 

I hope you found this post useful! If you need help finding or selling your Lakeland, Florida home, please contact me 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 real estate landscape and all it has to offer.

 

 

 

 

When is it Time to Say Good-bye to your Seller?

Sellers, buyers and folks who I come to meet and get to know me, know that I’m professional, patient, calm and collected. I’ve walked the walk and talked the talk at listing appointments and showings. I’ve stopped taking overpriced listings - yes, I’ve had overpriced listings in the past. I keep in contact with my sellers, answer the phone and give them regularly an up-to-date market status for their respective neighborhoods.

I’m excited when I meet with prospective sellers, who are motivated to sell and have the luxury of owning their home free and clear – yes, no short sale or foreclosure to deal with.  Most of my sellers are elderly folks, who are or looking into assistant living or moving back to be close by their adult children.  These senior citizens have worked and lived so hard for what they own and are very proud of it; they are meticulously and take care of maintenance issues right away. Understandably, they are overwhelmed and are upset when they are losing their independency. Not to mention explaining to them that we are experiencing a declining real estate market and the value of the homes have dropped tremendously from the years of the real estate boom.

A couple of years ago, I’ve had a signed listing agreement and the lady of the house asked me if I would tear up the contract because she was not ready to move, she even offered to pay me for my time and expenses I’ve incurred so far.  I agreed, tore up the contract and asked her just to remember me when she is ready to sell her home and left without taking a dime. A year later the homeowner called me back and I marketed the house for her.

When the homeowner passes away it is a trying time for the adult children or heirs to take care of the selling their parents home, especially when the siblings can’t agree.  Recently, I’ve received an offer on the house – the house has seen traffic after we lowered the price, an offer a little low but there is always time for a counter offer. When I submitted the offer to my sellers, I also submitted a market report for their respective neighborhood and explained the current trend in this neighborhood with bank owned and short sale properties, advising on the aspects of taking care of a vacant home, etc. I sensed from the communication that the siblings could not agree on a counter offer therefore would not counter back to the buyer. I reemphasized the importance to counter back, finding out the motivation of the buyer, even if it means to counter back full listing price.

The very next day, I had no alternative but to withdraw the listing agreement for the lack of support and said good-bye to my seller and wished them the best. This is the first time, in my over 10 years of experience, this happened to me and I was totally blindsided by their action.  

What would you have done?

 

Copyright © 2009 http://www.servinglakelandfl.com | All Rights Reserved |

When is it Time to Say Good-bye to your Seller?

 Petra Norris

CDV TransAtlantic, Inc.

Licensed Florida Real Estate Broker

PO Box 92050 - Lakeland, FL 33804-2050

Telephone (863) 619-6918

 

 

 

School is out for the SummerKids school is out – are you ready to have some fun? Bring your parents to downtown Lakeland this Friday, June 5th starting at 6:00 PM and participate blowing the largest bubble in a bubble-gum blowing contest. I’m sure there are some great hula-hoopers in Lakeland, there will be a contest for a squirt-gun shootout and a contest for summer themed art, which takes place along Kentucky Avenue.

Teaming up with our local downtown merchants, Explorations V Children’s Museum and the Polk Museum of Art, who are making sure, you will have a great start to your summer vacation during the June 5th First Friday “School’s out for the Summer” Celebration.

More activities are planned for the kids such as a bounce house, face painting at Lofty Ideas and a DJ at Lloyd’s of Lakeland on North Kentucky. Traditions Unlimited will feature making paper flowers and Brooke Pottery will host making ornaments and clay animals.

Teens and Adults – are you dressed for summer? The Polk Museum of Art is sponsoring on South Kentucky Avenue a community art project showcasing your idea of “Summer Fun”. A people’s Choice Award for a cool summer look – you live in Florida only a short drive to the beach. Hmm… flip flops, summer shirt and a cool hat made out of straw perhaps – think Key West or Hawaii, you get the point. Try it and have fun!

Prizes will be provided for various activities by the Downtown Lakeland Partnership and Downtown Lakeland merchants.

Garden Bistro, one of my favorite restaurant, will be open for dinner 6 - 8 P.M. It doesn’t get any better than dinner at the Bistro and music by Sofa Kings 7:00 - 11:00 on the Patio. Garden Bistro is next to Hollis Garden on Lake Mirror.


Of course, there will be entertainment along the streets and the car show on Tennessee Avenue next to Munn Park from 6:00 PM- 9:00 PM.

 

Classic Car Show

            

Classic Car Show - Munn Park Lakeland

July’s First Friday Theme “Sundown Celebration”, which will take place July 3rd, 2009

 

Copyright © 2009 http://www.servinglakelandfl.com | All Rights Reserved |

Lakeland Florida Local Event – First Friday “School’s out for Summer” – June 5th

 Petra Norris

CDV TransAtlantic, Inc.

Licensed Florida Real Estate Broker

PO Box 92050 - Lakeland, FL 33804-2050

Telephone (863) 619-6918

 

 

 

The proof is in the pudding or the check. You will receive a check if you qualify. First-Time Homebuyer's search here for homes in Florida or contact Petra Norris -directly at (863) 619-6918.

Search for Florida Homes

Via Sheldon Neal -- That British Agent -- (Bergen County, NJ - RE/MAX Real Estate Limited):

 

 

 

This is an actual check from one of my First Time Buyers who bought a home last month, and immediately filed his 2008 tax return - which he had already filed an extension for - and this week received the above check !

 

... before his home purchase, his return was going to give him a refund of approximately $4,000 !!!! ... as you can see, he qualified for the tax credit, and received $8,000 additional dollars from the government for buying his home.

 

@@@ FOR FURTHER INFORMATION - BE SURE TO CONSULT YOUR ACCOUNTANT TO SEE IF YOU CAN RECEIVE THIS YOURSELF @@@

 

Per the IRS.gov website, you may qualify to receive this credit if you meet the following qualifications:

"... qualifying taxpayers who buy a home before Dec. 1, 2009, can claim the credit on either their 2008 or 2009 tax returns. They do not have to repay the credit, provided the home remains their main home for 36 months after the purchase date. They can claim 10 percent of the purchase price up to $8,000, or $4,000 for married individuals filing separately.

The amount of the credit begins to phase out for taxpayers whose adjusted gross income is more than $75,000, or $150,000 for joint filers.

For purposes of the credit, you are considered to be a first-time homebuyer if you, and your spouse if you are married, did not own any other main home during the three-year period ending on the date of purchase."

 The credit itself:

  • Applies to purchases that close after April 8, 2008, and before Dec. 1, 2009.
  • Applies only to homes used as a taxpayer's principal residence.
  • Reduces a taxpayer's tax bill or increases his or her refund, dollar for dollar.
  • Is fully refundable, meaning the credit will be paid out to eligible taxpayers, even if they owe no tax or the credit is more than the tax owed.

 

So if you were considering buying a home this year - be sure to talk to your accountant as you may also qualify to get $8,000 extra dollars for buying your first home !

 

ALSO: Be sure to check out a post  from respected Loan Officer Jeff Belonger explaining how you may be able to receive an 'up front loan' for this credit to use towards closing costs or additional downpayment over your mandatory 3.5% payment on your FHA loan !

@@@PLEASE NOTE: ALL INFORMATION ABOVE DEEMED RELIABLE PER THE IRS.GOV WEBSITE, HOWEVER IS SUBJECT TO CHANGE AT ANY POINT ON ANY DAY ! - CONSULT YOUR TAX ACCOUNTANT BEFORE EXPECTING ANY PORTION OF THIS CREDIT.

@@@@ UPDATED: BELOW IS THE FORM NEEDED TO FILE FOR THIS CREDIT IF YOU QUALIFY - YOUR ACCOUNTANT SHOULD HAVE IT AND WALK YOU THOUGH IT ! GOOD LUCK !

 

Lakeland Florida Housing Market Report for April 2009 - Bank-Owned Properties are the Name of the Game

Distressed Properties continue to influence the Lakeland Florida housing market. Lakeland's average sales price of $128,093 ($69.22 per sq.ft.) for April slumped 25% from the previous year, prices dropped also 5 ¾ % from the previous month.  A slight increase in properties sold of 154 Lakeland properties were sold in April compared to 152 homes sold the previous month.

 Lakeland Florida Avg./List Sales Data April

  

Bank-Owned properties are the "Name of the Game"

The distressed homes and more importantly the bank-owned (REO) properties dominate the sales activities here in Lakeland with 88 properties sold in April and continuously over 50% of the total sales since the beginning of the year recorded in our Mid-Florida Regional MLS.

With close to 2467 properties currently for sale and pending, we are experiencing approximately a 15 month of supply for the regular homes and distressed homes.

Distressed properties are homes in pre-foreclosure, foreclosure, bank-owned, as well as short sales. These types of homes continue to control our real estate market here in Lakeland Florida as well as throughout Polk County, so it is important for you to see what is driving down the home prices, but more importantly our home values.

Of the 154 homes sold last month in Lakeland, 88 distressed homes were sold with an average sales price of $108,900 ($58.91 per sq.ft.) compared to only 30 homes that were sold the previous year, due to Short Sales and/or Foreclosures.  Bank-owned properties are the "name of the game" with 62 out of 88 properties was bank-owned (REO).

Let's break it down for you to see the supply and demand for common properties for sale versus the distressed market.

Common properties only - Inventory active and pending 1602 homes resulting in 27 month of supply.

Distressed properties - Inventory active and pending 865 homes resulting in an 11 month supply.

 Lakeland Avg/Median Sales - April

 

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 Sold by Zip code April 09 

  

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

  Lakeland Homes Sold by Zip Code April 09

 

For more information on the location of these sold properties in Lakeland, price and size of the home click on map picture which leads you to the interactive Community Walk map created by Chuck Welch of Lakeland Local.

  Map of homes sold in April 09

    

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

Winter Haven - 102 properties sold - average sold price $101,120 - average $59.75 per sq.ft.

Bartow - 12 properties sold - average sold price $112,366 average $64.14 per sq.ft.

Mulberry - 16 properties sold - average sold price $115,658 - average $65.81 per sq.ft.

Auburndale - 13 properties sold - average sold price $148,161 - average $79.02 per sq.ft.

Polk City - 3 properties sold - average sold price $56,300 - $51.40 per sq.ft.

Lake Alfred - 7 properties sold - average sold price $104,785- $54.99 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 © 2009 http://www.petranorris.com| All Rights Reserved|

Lakeland Florida Housing Market Report for April 2009 - Bank-Owned Properties are the Name of the Game

Petra Norris

  CDV TransAtlantic, Inc.

- Licensed Florida Real Estate Broker

PO Box 92050 - Lakeland, FL 33804-2050

Telephone (863) 619-6918

 
 
Rainmaker_large

Petra Norris - Lakeland Florida Realtor® Lakeland Florida Real Estate,

Lakeland, FL

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CDV TransAtlantic, Inc.

Address: PO Box 92050, Lakeland, FL, 33804-2050

Office Phone: (863) 619-6918

Cell Phone: (863) 712-4207

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