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

Lakeland Florida Real Estate Market Review

The graphs below provide you with some insight in the Lakeland Florida real estate market since 2003 – the rise and the fall of home sales and property values in Lakeland. Real estate sales started to drop in 2006 as the number of Lakeland homes for sale increased by the month reaching the highest inventory of 2,303 homes for sale in 2006. During the years 2007 and 2008 the inventory increased as sales tremendously decreased. Supply exceeded the demand by so much that if no other properties came on the market; it would have taken over 2.2 years to absorb all of Lakeland properties listed in the Multiple Listing (MLS).

The Distressed Lakeland Housing Market of 2009

Property values continued to decline as homes were being foreclosed and supply started to decrease from over 3,000 to an average of 2,300. Sales of homes increased in 2009, a total 1971 properties were sold in Lakeland:

The Lakeland distressed real estate market for last year was at 47% and I suspect the percentage will increase in 2010, due to unemployment rates and declining property values.

Buyers must be aware that appraisers will include foreclosure sales in appraising of the home you are purchasing. Also be advised that the lender decides how the appraisal will be done and they will adjust appraisals to include bank owned properties. Just recently, my client’s loan was denied because of the appraisal, which did not include sales of bank owned properties within the neighborhood.

For your monthly report of the Lakeland Real Estate market in 2009, please click the links below:

Lakeland Real Estate Market - January 2009

Lakeland Real Estate Market - February 2009

Lakeland Real Estate Market - March 2009

Lakeland Real Estate Market - April 2009

Lakeland Real Estate Market - May 2009

Lakeland Real Estate Market - June 2009

Lakeland Real Estate Market - July 2009

Lakeland Real Estate Market - August 2009

Lakeland Real Estate Market - September 2009

Lakeland Real Estate Market - October 2009

Lakeland Real Esatate Market - November 2009

Lakeland Real Estate Market - December 2009

Lakeland Florida Annual Pancake Festival – February 13^th, 2010

Hungry for sausage and pancake? Lakeland Kiwanis Clubs is in full preparation for their 50^th annual Pancake Festival on Saturday, February 13^th, 2010. Local volunteers from the Kiwanis Club will be up early to serve all-you-can-eat pancakes, sausage and coffee at the hanger at Tiger Town starting at 7:00 a.m. – 7:00 p.m.

Come out and support Lakeland’s Kiwanis Club community programs. There will be displays and booths by local merchants along with entertainment in the afternoon. Tickets at door is $5.00 adults; $2.00 children.

Last year, my family enjoyed the good food and we were very impressed of how smooth and efficient the volunteers cooked and served pancakes, sausage and beverages. The Kiwanis Club of Lakeland started early morning around 7:00 a.m. to serve over 25,000 pancakes along with 100 gallons of syrup, massive amounts of cups of coffee and juices to about 8,000 people here in Lakeland in just one day. As we made it through the reception table towards the tent where volunteers of the Kiwanis Club flipped pancakes, gallons and gallons of pancake batters were brought in to keep the grilles cooking to feed the people graving for pancakes such as myself. There were plenty of stations set up, so waiting for fresh pancakes did not take a long time and off we were to get our tasty sausages.

Plenty of cooking stations for pancakes and sausages

Coffee and juice bar - Fresh coffee and juices were plentiful as well, even at closing time of 7:00 p.m.

Lakeland Florida Real Estate Update ~ 01/16-01/31/10

Update on the Lakeland real estate market! There are 1903 homes for sale throughout Lakeland, Florida – as of 02/06/10; the number of homes for sale remained constant for the month of January. Newly listed homes for the period of January 15^th through January 31^st increased slightly to 169 Lakeland homes. The average sales price of Lakeland homes listed with area Realtors® decreased to $160,386 from my previous report.

The types of homes and average prices just listed in Lakeland, Florida according to the Multiple Listing Services (MLS) are as follows:

1 duplex unit with a sales price of $95,800

7 condos listed with an average sales price of $97,243

15 mobile homes listed with an average sales price of $65,793

14 Townhomes/Villas listed with an average sales price of $92,798

132 single family homes with an average price of $182,141

Lakeland’s newest homes listed! The priciest Lakeland real estate is a 1995 home on approximately 6 acres; featuring 5 bedrooms and 6 baths with over 5,100 square feet of living space currently offered for $675,000 located in the Oakmont Acres. On the contrary, the cheapest Lakeland home newly listed is a bank owned 3 bedrooms 2 baths home listed for $19,900 – just under $19.00 per square foot – located in the Winston Heights subdivision.

For a more detailed report such as homes listed by zip codes and distressed properties please continue to read by clicking this link

First Friday in Lakeland Florida – Local Event “Dancing in the Streets” – February 5th, 2010 12th, 2010

UPDATE: The weather was not co-operating yesterday for Lakeland's First Friday event. I was downtown yesterday, only to find out that the event was postponed due to rain for next Friday (February 12th, 2010).

Valentine’s Day is just around the corner and what

better theme Downtown Lakeland Partnership could have chosen other than “Dancing in the Streets” for its First Friday event in Lakeland Florida on February 5^th, 2010. The event starts at 6:00 p.m. It is recommended that folks arrive early to enjoy dining at local restaurants and shopping at downtown’s stores, galleries and boutiques.

Put on your dancing shoes and bring your Sweetheart. Flowers by Edith has a special price for corsage and boutonniere orders in advance. To wine and dine may I suggest the Antiquarian, the Terrace Hotel, or Harry’s Seafood Bar & Grill, then take a stroll around Munn Park enjoy the sites of the Classic Car Show on Tennessee Avenue, beautiful Lake Mirror and the botanical Hollis Garden.

“Dancing in the Streets” performances brought to you by:

• Sapphires Dance Studio – salsa and swing
• Samira’s Belly Dancers
• Florida Dance Theatre – various style of dancing
• Lakeland Montessori School – chorus and dance performance in Munn Park @ 6:00 p.m.
• Special performance of the night Rae’s Retro “Dirty Dancing” in remembrance Patrick Swayze “I’ve had the Time of my Life”

Take the dance floor with your sweetie and dance the night away on Kentucky Avenue – can you give your Sweetheart the “infamous” lift?

There are so many other activities for the whole family to enjoy. So, c’mon down to Lakeland’s Munn Park and enjoy an evening of arts and entertainment.

Polk County Existing Home Sales for December 2009

Overall Polk County Home Sales rose and prices fell in 2009 from the previous year. Is this true in your neck of the woods? I’m sure you heard about that this is a buyer’s market in the news and media outlets, but is it really? Real Estate still remains very local and real estate statistics in each town or even in each neighborhood/community could differentiate by a great margin resulting in a seller’s market. Therefore consulting with a local Realtor® with market knowledge and experience is essential to your home buying or home selling needs.

636 existing homes sold – an increase of 7.98% from the previous month (589 sold homes) in Polk County – an increase in sales activity of 185 Polk County homes sold from the previous year. Overall Polk’s median price for existing homes decreased by 4.59% from the previous month to $99,700 and declined 18% from the previous year of $122,000.

For a more detailed report such as homes listed by cities throughout Polk County and distressed properties please continue to read by clicking this link