Why is there Money being held in an Escrow Account? When I meet first time homebuyers who are buying a Lakeland FL home the one thing I love to do is to educate them about the home buying process.  One of the questions I'm being asked and also not very well understood is why is there money being held in an escrow account when I purchase a Lakeland FL home? Let's define Escrow Account in connection with a mortgage! An escrow account is a specially designated savings account into which funds are deposited for a defined purpose. Why is there money being held in an escrow account? Say you opt for an FHA mortgage with a downpayment of less than 20% or a VA guaranteed loan on your Lakeland Fl home.  These types of home loans will require you to “escrow” your scheduled monthly home owners insu... 02/07/2011

Lakeland FL Homes for Sale Update - Lakeland FL Homes Just Listed in January 2011 Update for the Lakeland FL real estate market! Newly listed homes for the month of January 2011.  A total of 274 Lakeland FL homes were just listed with area Realtors®.  The average sales price for Lakeland FL houses is $146,646.  The total inventory of homes that are for sale in Lakeland FL decreased to 1825 as of 02/04/2011. The types of homes and average prices for sale in Lakeland, Florida according to the Multiple Listing Services (MLS) are as follows: 3 duplex listed with an average sales price of $62,600 5 condos listed with an average sales price of $110,320 34 manufactured/mobile homes listed with an average sales price of $66,623 8 townhouse/villas listed with an average sales price of $77,423 2... 02/04/2011

Is A Short Sale in Lakeland FL Considered A Quick Sale? This is one of the frequently asked question I answer almost every day by buyers who are looking to buy in Lakeland Fl by email, phone conversation or when showing my Lakeland FL Short Sale listings. Buyers asking "does short sale mean quick sale?" and I always start with a smile and chuckle.  First, let me define short sale? A short sale is when the seller's lender accepts less than the mortgage balance to avoid a possible foreclosure auction on the court house steps. Buying a short sale in Lakeland FL or anywhere else for this matter, however, is not a quick sale.  Providing the seller has submitted all the pertinent documents to his or her listing agent or attorney that handles the negotiations, the approval process generally ca... 02/03/2011

How Accurate is Zillow's Zestimates in Lakeland FL? On a recent listing appointment I was told by a prospective seller that his Lakeland FL home on Zillow's Zestimate is valued at $250,000 and that is the price he wants to sell his home. Me, the good little Realtor® that I am politely told the seller that although his house looks very nice, it is in fair condition and needs a little updating, the comparables within his community, however, does not warrant a sales price of $229,000.  I explained to him that Zillow's Zestimate is a great starting point to have when thinking about selling your Lakeland FL home, however the accuracy of value given is questionable and here is why: According to Zillow they are constantly monitoring how accurate the Zestimates by comparing data when the proper... 02/02/2011

Lakeland Florida First Friday February 4, 2011 - "Motorcycle Mania" Folks that flock to downtown Lakeland to attend First Friday events are accustomed to the Classic Car show for the past seven years. This month the Downtown Lakeland Partnership wanted to include motorcycles so they extended the hours from 6-10 p.m. The sunshine state and Lakeland, FL for that matter is heaven for motorcycle enthusiasts where you can ride your motorcycle year around. Move over Daytona Bikefest, here comes Lakeland FL Motorcycle Mania. A fun filled event for the whole family to enjoy: Live music along the streets Bay and Kentucky Motorcycles on display Classic Car Show Shops and Restaurants stay open late.    You don't have to own a motorcycle to attend this event. There are so many vendors and motorcyc... 02/01/2011

Hi folks. I LOVE successful Short Sale closings. This one had a few issues but I was working with an awesome Buyer's Agent, Evelyn Broxterman, with Keller Williams in Lakeland Florida, she was able to keep the buyer on board for 6 months!! Evelyn is also one of our Short Sale Superstars. The property: 4 bedroom 2 bath single family home located in Lakeland Florida. It was bought new in 2005 for $190,000 as an investment property. Liens: Mortgage with Bank of America for $170,000 HOA lien for $2,500 Hardship: Loss of income due to rents dropping and no longer able to find a tenant. Issues: This property was placed on the market in May of 2010. It had actually been on the market for several years with another company. For whatever reason they were never able to get it sold. We placed the... 01/28/2011

Lakeland FL Short Sale - Is Cash Really King? I don't know why I have not wrote a post about is cash really king when it comes to buying a Lakeland FL Short Sale. Today, I received another email about this same question and here is the question this consumer was inquiring about: "Would a total cash offer help a home purchase progress quicker?"  As a Lakeland FL Short Sale agent, having represented buyers and sellers, this question comes up quite often and while buyers would think Cash is King, it is not always the case as I explained it in my email to this potential Lakeland FL Short Sale buyer: Thank you for your email and question.  While cash is king, the offer is still being negotiated with buyer and seller.  Once both parties (buyer and seller) agree to the terms and condition of t... 01/27/2011

Lakeland Fl Homes for Sale - Things You Should KnowYou came to the right place! Lakeland FL has an abundance of homes for sale in every price range and style. Looking to move into your next home that is move-in ready, a regular or traditional Lakeland FL home that is not facing foreclosure may be your best choice. The negotiation process is only with the owner, there is no third party, such as a lender you need to worry about. A traditional sale is smoother, safer and less time consuming.Buying a Lakeland FL Home for sale that is categorized as a bank-owned or foreclosure can be the best deal money can buy.  At a deep discounted price, banks are unloading their inventory.  Due diligence and caution is recommended.  There may be more than you bargained for when it comes to repairs to st... 01/25/2011

  Lakeland Florida Short Sale and Foreclosure Market Report – December 2010   For the month of December, the Lakeland real estate market of short sales and bank-owned (REO) properties market share increased to 61.03% from the previous month. There were a total of 119 distressed homes sold, compared to 73 in November and 103 distressed Lakeland homes sold the year prior, according to Mid-Florida Regional MLS.   Currently there are a total of 2344 Lakeland FL homes for sale and 470 homes under contract (01/24/2011). By calculating total inventory, homes that are under contract which are included in my inventory share because these properties have not closed in which a buyer could walk away at any given time.   Bank owned properties – Inventory share is 17.79% Short sale properties – Inven... 01/24/2011

Lakeland Fl Homes for Sale – Overall Home Sales for December 2010 Average overall Lakeland Florida home sales decreased to $112,748 for the month of December compared to the previous month.  195 Lakeland Fl houses that have sold which represents above average numbers for this year’s total of 2,287 houses sold. December market share of distressed homes rose to 61% from the previous month.  Lakeland overall homes sales in December:  195 - previous month:  133 – previous year December 09: 194 sold December – average sales price $112,748 Previous month: $120,073 (-6.10%) – previous year December 09: $123,866 (-8.98%) December – median sales price $93,972 Previous month: $102,000 (-7.87%) – previous year December 09: $113,950 (-17.53%) The graph below represents average and median home sale... 01/19/2011

Best Barbecue in Town - Lakeland FL  Annual Pig Fest January 28-29, 2011 I can't imagine spending a better way than to attend this year's Lakeland's Annual Pig Fest on January 28 and 29, 2011. In it's 15th 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 barbeque teams to travel to our beautiful city and compete in four categories: Ribs, Chicken, Pork and Brisket.  Gates open on Friday at 5:00 p.m. with live music. I have heard that The Ed Wright Band take main stage at 6:00 p.m. and Sean Chambers will be the headliner at 9:00 p.m.  The gates open on Saturday, January 29th at 10:00 a.m. for some barbeque braggin’ rights competition... 01/18/2011

Lakeland FL Real Estate Update – Lakeland Homes for Sale for December 16 - December 31, 2010 Update for the Lakeland FL real estate market! Newly listed homes for the period of December 16 – December 31, 2010.  A total of 93 Lakeland FL homes were just listed with area Realtors®.  The average sales price of Lakeland homes for Sale dropped up to $112,917 from my previous report , primarily due to the holidays.  The total inventory of Lakeland homes is 1885 as of 01/15/2011. The types of homes and average prices for sale in Lakeland, Florida according to the Multiple Listing Services (MLS) are as follows: 3 condos listed with an average sales price of $101,929 8 manufactured/mobile homes listed with an average sales price of $57,825 7 townhouse/villas listed with an average sales price o... 01/15/2011

Lakeland FL Homes for Sale - Hello New York Tired Of Snow? No Snow Here in Lakeland Florida! Weather reporters around the state say that it has snowed in every state except for Florida. Watching folks in New York shoveling snow I could tell they are tired of snow. In fact, folks dealing with snow and ice no matter where they live are tired of this white stuff. Tired of snow - no snow here in Lakeland Florida. I Got A Solution For You - Relocate to Lakeland Florida! For folks moving from states like New York and other northern states (brr… chilly!) to warmer weather and friendlier climate, there’s also new costs.  Which, are still surprisingly affordable here in Lakeland.  Shoot, if you’re moving from a larger Metro area like New York  – you’ll be pleasantly surprised with the difference... 01/13/2011

Everybody Wants to Buy a Foreclosure in Lakeland Florida - Caveat Emptor Last year was proof that everybody that wanted to buy a home, had their eyes on a Lakeland Florida foreclosure first.  Foreclosure sales alone dominated the Lakeland FL real estate market in 2010 when compared to traditional sales and short sales.  Most of those sales were recorded as a cash transaction, however, this is subject another article in my monthly market reports that will be coming to you soon.  I wonder how many of those potential buyers actually missed out on a great opportunity buying foreclosed home in Lakeland because of their ignorance or their inexperience.    If you are a buyer who is seeking financing, your number one job should be to "get your ducks in gear" and have your financing lined up bec... 01/06/2011

Lakeland FL Homes For Sale Home search made easy!  Looking to buy a home in Lakeland Florida, there are some great values when searching for a Lakeland FL home for sale with average sales prices are cheaper; hovering around $125,000 for a single family home. Compare this price to average sales prices in Orlando, FL at $158,000 and Tampa, FL at $196,000 based on 2010 sales. I want to share a way to search for homes that are for sale in Lakeland Florida with this interactive map below. I have used this map a lot in the past months and have gotten great results from consumers and buyers.   It is a google based map that allows you to click on the blue house icon and if a picture is available, it will provide you with basic information such as picture and price of the home.  More information... 01/03/2011

Buying a Lakeland FL Short Sale? Consider Hiring a Short Sale Buyer’s Agent While it is essential to hire an experienced Lakeland FL Short Sale agent when listing homes, it is equally necessary hiring a buyer’s agent in Lakeland, Florida who specializes representing buyers who are interested in buying a short sale. The question that comes up quite often is why can’t any other agent help me with my buying process?  Our Lakeland Fl real estate market is not inundated with short sales, in fact we have an abundance of Lakeland Fl Homes for sale that are being marketed as traditional sales.  Buyer’s agents don’t want to deal with the long drawn out process dealing with a short sale, the agent’s time involved and months later getting a commission, when there are plenty of others to show a bu... 12/30/2010

How to Hire the Right Lakeland FL Short Sale Agent?   You open up the newspaper ads or search online for a short sale agents in Lakeland, FL and plenty of Realtors claiming to be an Expert.   Before you pick up the phone and start with the one who claims to be an Expert, write an email to this agent and ask general questions.   For example: What is a short sale? What are the alternatives to a Lakeland FL Short Sale? What are the requirements to list my home as a Short Sale? Is a short sale guaranteed? I hope he or she will call you or email back within a day and answers your questions. Working as a Lakeland Fl Short Sale Agent, I hear and see constant mistakes so called Experts make and the person who gets hurt the most is you, the seller.  Let me explain! Getting any offer signed - Gr... 12/29/2010

Lakeland FL Homes For Sale - Short Sale & Foreclosure Market Report for November 2010   For the month of November, the Lakeland FL real estate market of short sales and bank-owned (REO) homes sold decreased to 54.89% from the previous month, reasoning the recent foreclosure moratorium. There were a total of 100 distressed homes sold, compared to 100 in October and 94 distressed Lakeland homes sold the year prior, according to Mid-Florida Regional ML   Currently there are a total of 1937 Lakeland FL homes for sale and 442 homes under contract (12/23/2010). By calculating total inventory, homes that are under contract which are included in my inventory share because these properties have not closed in which a buyer could walk away at any given time. Bank owned properties – Inventory share... 12/27/2010

Lakeland Florida Short Sale and Foreclosure Market Report – November 2010 For the month of November, the Lakeland real estate market of short sales and bank-owned (REO) homes sold decreased to 54.89% from the previous month, reasoning the recent foreclosure moratorium. There were a total of 100 distressed homes sold, compared to 100 in October and 94 distressed Lakeland homes sold the year prior, according to Mid-Florida Regional MLS. Currently there are a total of 1937 Lakeland FL homes for sale and 442 homes under contract (12/23/2010). By calculating total inventory, homes that are under contract which are included in my inventory share because these properties have not closed in which a buyer could walk away at any given time. Bank owned properties – Inventory share is 17.86% Short... 12/23/2010

Lakeland Fl Real Estate Update – Overall Home Sales for November 2010 Average overall Lakeland Florida home sales increased to $120,073 for the month of November compared to October 2010.  Only 133 Lakeland homes have sold which represents the lowest number for this year. November market share of distressed homes decreased to 55% from the previous month. The majority of Lakeland home buyers bought homes below $200,000.  Notably, with almost 32% of Lakeland home buyers purchased homes within the price range between $50,000-$99,999. Lakeland overall homes sales in November:  133 - previous month:  166 – previous year November 09: 175 sold November – average sales price $120,073 Previous month: $114,532 (4.84%) – previous year November 09: $123,033 (-2.41%) November – median sales price $... 12/23/2010