A report from the Lakeland Ledger confirmed news for Winter Haven mortgage borrowers that home sales are picking up in the area, despite a down December existing home sales period nationally.
All told, some 376 existing homes were sold in Winter Haven, Lakeland, and surrounding Polk County areas in December, bringing the year’s total to 4,290. This upswing marks the highest home sales period since 2006, when 5,606 homes were sold.
Per the Ledger article, the uptick in home sales is owed largely to the sale distressed, foreclosed, and bank owned properties. In fact, reports are that more than half of the sales from 2009 can be attributed to these types of properties. One side effect these types of sales are having is that the average value of existing homes is still being kept low.
For December 2009, the Florida Association of Realtors reports that the average home sales price was $107,300, showing a decrease by 17 percent from the year before.
I hope you found this post useful! As always, if you or anyone you know is in need of a local Florida mortgage broker, I’m your guy. Call me at 863-604-3019 or apply online for your Florida mortgage. We’ll keep you posted and let you know when it’s time to pull the trigger!
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You will see more and more short sales. The gov’t will encourage distressed home owners to find a new buyer for their home. Modifications do not work.