A turbulent real estate market has presented opportunity for local investors. Polk County has never had as many real estate foreclosures as our present day market. In June alone there were 815 foreclosures. In June of 2007, there were only 381 filings . . . a whopping 114% increase! In all of 2007, there were 5132 foreclosures. Thru June there have already been 4,481.
So what of this opportunity? Buyers, specifically investors, have a treasure trove of real estate inventory to select from. Banks are not in the business of owning real estate. Once a property is foreclosed & in their ownership they will either sell the property at auction, or typically secure the services of a REALTOR to sell the property. It is wise to consult with a REALTOR adept at handling foreclosures, known in the real estate profession as REO (real estate owned) properties. Typically these REALTORS work with several banks & are often the first to know about a property before it even hits the multiple listing service (MLS) database. Working with a REO professional could give you insight on market conditions, incoming inventory, potential resale values, & financing options on rehab properties.
Don't forget to visit Central Florida's premier real estate website at www.GateArty.com for all your real estate needs!
Polk County's many avid NASCAR fans are mourning the loss of an important institution.The USA International Speedway, located at 3401 Old Polk City Road, has closed its doors after its final race On August 2nd and is now under new ownership. The site was previously owned by Bob Brooks, the founder of Hooters restaurants who died in July of 2006. The facility first opened in 1971 with a quarter-mile track under the name Lakeland Interstate Speedway. It was sold in 1995, and has operated as USA International Speedway since. The paved oval stock-car track is nationally renowned as a popular testing spot for NASCAR teams.
Higgenbotham Auctioneers held an Absolute Auction on August 9th where everything was up for sale. All things automotive were sold including equipment, cars, grandstands, pictures, compressors, transmissions, etc. . . . .everything!
The 47-acre tract fronts on Interstate 4, and studies have shown that the North Lakeland site is said to have access to more than 8.5 million people within a 100-mile radius. The new owners are Rockefeller Group Development Corporation and they have acquired approximately113 acres (thus far) of the land off Interstate 4's exit 38 in Lakeland. The Manhattan-based company hopes to attract a commercial tenant. Rockefeller has plans to build an industrial park on the site with more than 1 million square feet in distribution space. The park would be targeted at large-scale tenants. Construction is scheduled to begin in the first quarter of 2009.
The sale does not include Lakeland Motorsports Park located adjacent to USA International Speedway. That facility, which includes a drag strip and mudbogging pit, is owned by Roy Spiker of Lakeland. Business will continue as usual at that location.
Don't forget to visit Central Florida's premier real estate website at www.GateArty.com for all your real estate needs!
The Central Florida Regional Planning Council voted 10-1 to approve the controversial development of a proposed 318-acre rail terminal site in southern Winter Haven. The terminal will be built on a 1,248-acre site. After the terminal is built, the plan is to build a major distribution center and office park Lakeland City Commissioner, Howard Wiggs, who serves on the planning council board, cast the lone dissenting vote. This approval has been forwarded to the City of Winter Haven. The project will be spearheaded by CSX subsidiary, Evansville Western Railway.
Minutes before the vote, Commissioner Wiggs made a motion that the vote be delayed for at least six months. At that point, the Florida Department of Transportation would have completed a study on rail routes. The hope would be that alternatives to routing trains through downtown Lakeland could be identified. The motion for delay failed.
The Winter Haven Planning Commission will hear the development proposal on Sept. 24 and the City Commission is scheduled to take action Oct. 29.
Don't forget to visit Central Florida's premier real estate website at www.GateArty.com for all your real estate needs!
The MidFlorida MLS reports that the Lakeland Association of Realtors closed 164 homes & the East Polk board reported 120 sales in June. Overall there were 284 homes sold in Polk, up from 282 homes last month. A year ago in June 2007 there were 275 homes sold, so the news should be reported that Polk sales are up from last year!
The average list price in Lakeland decreased to $180,303 from $183,672 last month, and the average sales price decreased to $169,351 from $171,773 last month. The average days on the market increased to 134 from 124 last month. In East Polk, the average list price decreased to $147,019 from $165,987 last month. The average sales price dropped to $136,876 from $153,489 last month. The average days on market decreased to 151 from 155 a month earlier.
What price categories sold last month? In Lakeland the majority of sales occurred in the $140,000-$159,999 price range, which represented 11.59% of all sales (19 units). Both the ranges of $120,000 - $139,9999 price range and $160,000 - $179,999 represented 10.37% of sales, or 17 units sold. The upper end market remained sluggish, with only one home selling for over $800,000 and 13 homes selling for over $350,000 (last month 11 homes sold for more than $350k).
In East Polk there were 18 sales in the $120,000 - $139,999 price range, which represented 15.00% of total sales. The second most popular category was $140,000-$159,999, which represented 12.50% of the market (15 sales). The upper end also was sluggish, with only 2 homes selling for over $350,000, down from 6 last month.
Foreclosures continued to dominate Polk County and we haven't seen much sign of a significant slow down. In July there were 755 foreclosures, down from the record setting number of 888 foreclosures in June. If you consider that all of Polk County sold 284 homes last month, and there were 4,706 Lis Pendens filed so far for the year . . . . WOW! Just to put things in a bit of perspective, however, Hillsborough County had 1,767 Lis Pendens filed. This was up from 1,659 the prior month. Short Sales (Pre-Foreclosures) & other distressed sales will continue to dominate this market for some time.
Don't forget to visit Central Florida's premier real estate website at www.GateArty.com for all your real estate needs!
The Central Florida Development Council has created the Disaster Preparation & Business Continuity Planning Guide. The guide contains information relating to business preparation before a disaster and the CFDC's recovery plan, after the disaster has struck.
The Guide offers:
In order to access the Disaster Preparation & Business Continuity Planning Guide, click HERE.
Don't forget to visit Central Florida's premier real estate website at www.GateArty.com for all your real estate needs!
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different people. different needs. one solution. imagine the possibilities . . . Real Estate Brokers for Lakeland & Polk County, Florida.
Gate Arty & the Group understands that the business of real estate is founded on strong personal relationships. These relationships are fortified with the professionalism, integrity, & sheer determination we will bring to every single transaction. We want to best understand your needs so we can find the choices you require. Buying or selling real estate is a major financial and personal undertaking. We will never lose sight of the person, or personalities within any given transaction. Taking the time to be empathetic to our client's wants & needs is what firmly sets us apart.
Finding the right mix of real estate professionals can be the difference between a seamless real estate buying or selling experience and a stressful transaction. Gate Arty & the Group is a team of dynamic individuals that, together, form the most progressive, innovative, dynamic, & proactive sales force in the industry today. Every member, a full-time professional, will align his or her interests with those of you . . . the client.
In the end, every real estate transaction involves many choices. A choice of which home, mortgage, and which REALTOR. Thank you for considering Gate Arty & the Group at Keller Williams Realty as your real estate advisor.
Contact us at info@gatearty.com or 863.680.9988. Your Lakeland Real Estate experts.
different people. different needs.
one solution.
imagine the possibilities . . .
gatearty.com Lakeland Real Estate
Gate Arty & the Group pride themselves on being experts on not only real estate in Lakeland & its surrounding areas, but also its culture, lifestyle, and especially its residents. We want to go above and beyond marketing & advertising a home. We want to market the entire community in which your home is located as well.
Meet The Group: Gate Arty
I have been a resident of Lakeland since childhood, & I am still very proud to call this quaint town, "home." Originally born in Bangkok, Thailand, my family & I immigrated to the United States in 1978. I graduated Lake Gibson High School in 1992. Go Braves!
Growing up an avid sports fan, I enjoy basketball, tennis & especially football. You'll find me watching the Miami Dolphins game every weekend, willing them to a hopeful victory & with any luck, an eventual Super Bowl Championship.
I went on to complete my studies at the University of South Florida in Tampa, where I resided for a short time, earning a BS in Business Administration - Finance. Go Bulls! Ultimately finding my way back home to Lakeland, I now enjoy an exciting career in real estate where I can help friends with their real estate needs & meet new people everyday.
I believe that cultivating true relationships & forming strong bonds is critical to happiness and success in business and in life. If you would like to talk about real estate, & require an individual that is passionate about what they do, I believe I can be your real estate advisor.
As long-standing industry professionals, our goal is ultimate client satisfaction. We strive to build lasting relationships and bonds that will endure beyond a singular transaction. It's always rewarding to learn how you helped someone, and all of us at Gate Arty & the Group believe in setting a new standard for honesty and integrity in real estate. With that said, we present to you the unembellished words of past clients who have given us their feedback.
Below are comments from families that have utilized our services. These are real people who were in a position of buying and selling a home and trusted Gate Arty & the Group to handle their transaction.
"Gate is especially professional.."
I purchase distressed properties, remodel them, and eventually sell. Gate Arty has been a great part of my success. He responds quickly to all of my questions, and has always been on the mark with his advice. Gate listens to my needs & follows thru. He really hustles and maneuvers to make things work. I have purchased many properties thru Gate Arty & the Group and all have been winners. Gate is especially professional, and I highly recommend his services.
- Carolyn Lee
"He went off of "nothing," ...turned it into something!"
Gate sold our house so quickly! We had no idea of what we really wanted in our next home, but Gate was able to find exactly what we needed and after a few short weeks, we moved into our new dream home. He went off of "nothing," and after listening to our needs, turned it into something! We truly appreciate his hard work & dedication.
- Justin & Heather Sparks
"within a couple of months the home was sold"
Our home had been on the market for over one year and it was right in the beginning of the slow season for selling. Gate Arty came in and took over the job, and with in a couple of months the home was sold and we were able to move on. We are thankful for Gate Arty & the Group, and we have recommended their services to anyone who needs a good caring agency. Thank you again!
- Ester & Ronald Shultz
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