Lakeland, FL

2011 Lakeland Florida Overall Housing Market Review - A Roller Coaster Ride

Every month I have watched, researched and written about the Lakeland FL Housing Market to see how we would compare to the same month in 2010 and even prior years. Folks asking me how is the housing market, is it getting any better? Are the prices going up? When will the prices go up?

We started out historically slow in 2011 compared to 2010, but that was done artificially due to the first time homebuyers tax credit which ended officially in April 2010 but if you had a binding contract, closing must have taken place by July 1, 2010. The roller coaster started to climb with rises in between until we took a dive in June as the Lakeland FL housing market hit a midyear low. By August we outperformed average sales price compared to the previous year and it looked for a moment that our local housing market had bottomed out. December ended in the bottom four when it comes to overall average sales price, although overall average sales prices were down, the number of transaction rose and that is the only good news I have.

Here are the Lakeland FL housing market numbers:

• In Lakeland FL, a total of 2434 residential properties were sold at an average price of $107,863 in 2011.
• In Lakeland FL, a total of 2305 residential properties were sold at an average price of $116,220 in 2010.
• Overall average prices were down 7%. Overall transactions (number of sales) was up by 6%.

While these are not horrific declines, they do speak to the angst that continues to dominate the housing market. Moreover, with the new wave of foreclosures coming into the Lakeland FL housing market they do point to 2012 that we may continue the roller coaster ride with up and down prices.

The good news is that the number of transactions improved despite the reduction of foreclosures due to the fraudulent or robo-signing documents that halted the foreclosure process for months resulting foreclosure sales were taken somewhat out of the equation.

How come 2011 Lakeland home prices sucked so badly? Our pipeline with homes under contract (pending) at 538 that includes 323 short sales most of them will not close next month, if at all and that is exactly what happened in 2011. Short sales that weren't approved or mortgages that didn't get commitment or clear to close, the pending numbers do not represent a fast approaching housing recovery. Moreover, until we see lenders doing their part to accommodate the seller’s delinquent loans approving them in a timely manner, the housing recovery will remain flat.

The bad news is the Lakeland Florida housing market remains flat. And that will most likely be the new normal market for the foreseeable future.

Prices will remain low due to the distressed housing market. Buyers are more savvy, they don’t want to spend more than they can afford. They want instant equity and with foreclosures and short sales selling at deep discounts, the traditional seller has no other choice than to adjust their listing price if they want or need to sell. In addition, buyers have their own struggles with the lender to commit loaning money to them.

I suspect the roller coaster ride will continue throughout 2012 in Lakeland Florida with up and down prices and up and down sales.

Best Barbecue in Town - Lakeland FL Annual Pig Fest January 27-28, 2012

I can't imagine spending a better way than to attend this year's Lakeland's Annual Pig Fest on January 27 and 28, 2012. In it's 16th year for its barbecue competition, such as the Kansas City Barbecue Society sanctioned competition, Publix Supermarket Backyard BBQ competition, and for kids, Kids-Q barbecue contest, enticing professional barbecue teams to travel to our beautiful city .

This year gates open at 5:30pm on Friday, January 27, 2012 to enjoy an evening of music, food, and games. On Saturday, January 28, 2012 at 10:00 am is when the real competition begins. Competitors from all over the country will flock to Lakeland Florida to compete in four different categories including Ribs, Chicken, Pork, and Brisket.

Friday’s entertainment at Center Stage is to include nightriders at 6:00 pm and Soul 2 Earth from 7:00 pm-10:00 pm. But don’t forget about the Backyard ‘Party Stage’ which will feature Cross Traxx and Vertical Circus. While Saturday Center Stage will include Pushin Eighties from 10:00 am- 1:15 pm followed by Brush Creek from 1:45 pm- 5:00 pm. And the Backyard ‘Party Stage’ will play host to The Sweeney Family Band, Madison Mckenzie, Cross Traxx, and Ace Jackson & The Jump Kings Performing throughout the day. LEGOLAND Florida will once again sponsor the Children’s corner and is said to include bounce houses and many other fun surprises.

There will also be a Kids-Q where children will compete on their own grills. The Kids-Q was started in 2004 when competitors came to the realization they did not want the art of Barbeque to disappear after they were no longer here so they have brought the kids into the mix by giving them a fun way to participate in the competition. And these kids are phenomenal cooks. Not to mention what a great family event! Read more about things to do with kids in and around Lakeland Florida.

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 barbecue championship. From then on, a festival committee was established and Lakeland’s Pig Festival welcomed its first barbecue 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 Barbecue 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 Barbecue 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 Lakeland Pig Festival has contributed over $650,000 to local charities and growing. 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.

It is a fun event for the whole family to enjoy.

Check out this video of year's past at the Lakeland FL Pig Fest!

Carillon Lakes in Lakeland Florida was developed over ten years ago and it is a deed restricted community. There are a variety of homes and condominiums situated throughout this lovely neighborhood that was developed in the early 2000. This community provides plenty of activities for its residents as well as for children. The community’s monthly calendar is filled with entertainment like, water aerobics, book buffs, game night, investment clubs and much, much more. The appearance of this community shows pride with manicured lawns and walkways throughout the community and its surrounding lakes.

A short distance to major employers such as Publix Supermarkets corporate office and GEICO Insurance as well as shopping at the Lakeside Village, Target and many restaurants situated along Harden Boulevard makes Carillon Lakes in Lakeland Florida a convenient location.Carillon Lakes in Lakeland FL is conveniently located minutes from Polk Parkway and Interstate 4, Carillon Lakes is a 24hr man-gated community situated southwest Lakeland, Florida and has almost 650 homeowners according to their newsletter. Carillon Lakes community has a lot to offer for families and retirees such as swimming pool, tennis courts, basketball court, fitness center, playground and a club house at the Town Center which can be rented for family gatherings such as birthday parties and other social gatherings.