Lake Mary Homes For Sale

Homes & Condos for sale:  379
Properties listed as short sales: 103 or 27%
Bank Owned/REO Properties:  35 or 9%
The available inventory of homes for sale has been stabilizing over the past 90 days.  Currently, distressed properties make up 36% of the available homes for sale in Lake Mary, Florida.

Lake Mary Homes Under Contract

Homes & Condos under contract:  164
Short Sales:  103 or 66%
Bank Owned/REO:  21 or 17%
Distressed Properties make up 76% of the homes under contract.

Lake Mary Home Sales

January Home Sales:  47
Short Sales:  11 or 23%
Bank Owned/REO:  16 or 34%

January Home Sales in Lake Mary, Florida

Lake Mary Real Estate Market Fact:  57% of the homes sold in Lake Mary, Florida during the month of January 2010 were distressed properties.

What this means to Lake Mary homebuyers and homeowners… We continue to see distressed properties entering the market place at prices that are under market value and these homes are selling, often within days of being listed.  This is an opportunity for buyers to purchase homes at a much more affordable price, but “traditional sellers” who are not in distress are compelled to compete with short sales and foreclosures or wait for a buyer who’s desire for their property out ways their need to get a “deal”, and yes this does happen.

Please contact me for detailed information about homes that are currently on the market or have recently sold.  If you have questions about current market trends or if you would like a valuation of your property’s current market value, I’m always here to help.

Lake Mary Homes For Sale

Homes & Condos for sale:  380
Properties listed as short sales:  94 or 25%
Bank Owned/REO Properties:  19 or 5%
Distressed Properties make up 30% of the homes for sale in Lake Mary.

Lake Mary Homes Under Contract

Homes & Condos under contract:  170
Properties listed as short sales:  101 or 60%
Bank Owned/REO Properties:  30 or 18%
Distressed Properties make up 78% of the homes under contract.

Lake Mary Home Sales

November Home Sales:  63
Properties listed as short sales:  11 or 18%
Bank Owned/REO Properties:  17 or 27%

55% of the homes sold in Lake Mary in November were not distressed.

Lake Mary Real Estate Market Fact: Currently only 30% of the homes in the inventory available are distressed properties, but 78% of the homes under contract are distressed properties.

What does this mean to you… the Lake Mary homebuyer or homeowner? It means that many of the homes that are traditional sales are being overlooked for distressed properties that are often priced under market.  If you are considering selling your home as a “traditional seller” you have to compete with the current pricing of the distressed sales, it can’t be avoided.

Lake Mary Real Estate Market Fact: 55% of the homes sold in November were “traditional sales”.

What does this mean to you… the Lake Mary homeowner or homebuyer? It means that even though distressed properties make up 78% of the homes that have contracts written on them, those proerties are not closing in a timely manner.  If you are considering purchasing a distressed property, you need to have a flexible timetable to close.  If you are selling your home and it is not a distressed sale, you need to promote the fact that your home is ready to buy today.

Questions about selling your home in Lake Mary… Feel free to call or email me anytime for the answers!

I spend a portion of each day searching for properties for my clients, I’ve read thousands of property descriptions and feel like I’ve looked at millions of photos.  One constant theme seems to run true, updates are being confused for upgrades.

I know the word ‘upgrade’ sounds luxurious, but how often is it used to describe the replacement of something that was worn out with something, well, that isn’t special, it’s just new.  Upgrades are “quality improvements” over and above what you expect to find.

I like to think of it this way…  Have you ever flown ‘First Class’?  it is definitely an upgrade.  It’s not just new upholstery on a coach seat.

No doubt in my mind that this is an ‘First Class’ kitchen, how about you? [photo Courtesy of Kitchen Art Design Center of Orlando].

I think much of the confusion started when Home Builder’s starting charging for items that should have been ’standard’, but instead they found a new revenue tool to increase profits.  Builder “Upgrades” are a high profit- low expense option…

What does this mean to you… a Lake Mary home buyer or seller?  In today’s market, where competition is fierce and home buyers are looking for the best ‘deal’, they won’t  pay more for updates, they have come to expect them.  The truth of the matter for homeowners is that upgrades often won’t fetch a high percentage return on investment in the current market climate, but they will help attract buyers and get the deal done.

Free Community Health Screenings

Lake Mary Events Center

Wednesday 11/04/09 from 9am – 1pm

Visit the 2nd Annual Lake Mary Health Extravaganza at the Lake Mary Events.  I’ll be stopping by tomorrow for my own bone density testing and blood pressure check.  This is a free event for the community, an opportunity to meet your neighbors and local health professionals.  I hope to see you there.

Free Health Screenings Available:

• Bone Density Testing
• Memory Testing
• Blood Pressure Testing
• Glucose Testing
• Balance Testing

Local Health Care providers will be available to answer questions too.

$100 Cash Grand Prize

Food Tasting & Door Prizes

Please contact Michelle Flipin @ 407-585-1428 for more information.

Map to & Address of the Lake Mary Events Center:

View Larger Map

The Facts about The St. Johns River Water Management District’s MANDATORY Lawn Watering Restrictions…

A “Hot Topic” in Central Florida is WATER!  From the dispute over Seminole County wanting to pull water from the river for the growing population to bottling companies pulling water from the aquifer to sell for a profit.  Water is a valuable resource, like it or not, we all have to conserve.

Changes Effective NOVEMBER 1, 2009

There are EXCEPTIONS TO THESE RULES and you can read them by clicking here.

For more information about the St. Johns River Water Management District click here.

For Tips on How To Save Water – Visit “Florida’s Water – It’s Worth Saving”

The City of Lake Mary last week presented their revised Downtown Development plan to area residents.   The plan encompasses a significant area of land around City Hall and will be eventually determined by the proposed light rail system to Orlando.

The proposed plan was met by approval and opposition of area residents (some, who’s homes currently occupy part of the development district are concerned about their future and when or if they will be approached to move).

Overall [I think] the development which includes commercial, residential, retail and recreational improvements will help evolve Lake Mary into an even more vibrant community and improve the quality of life of those who call Lake Mary home.

The plan, with an expected development window of 15 to 20 years is far from set in stone.  The City will need the help of private investors to make this dream a reality.

Continue to check for updates…

Don’t Homeowners who decide to live in a community that is governed by a Homeowner’s Association (HOA)  have certain expectations?

Don’t they want the manicured lawns and well kept landscaping?

Thanks to the Florida Legislature you can no longer have those expectations.

Charlie Christ signed legislation today that gives homeowners the ability to circumvent their HOA rules and regulations regarding their lawns and gives them the ability to replace them with “Florida Friendly Landscaping”.  What is “Florida Friendly Landscaping”, well those guidelines haven’t been put in place yet.

Will you come home one afternoon to find that your neighbor has torn out their lawn and replaced it with wild flowers or mulch?   You might and your HOA can’t do anything about it.

I’m well aware of water rationing and the need for water conservation, but taking away Homeowners Association’s power to regulate themselves is not the way.

If you want to have a Florida Friendly Landscape you are free to buy a home in a community that has that option or buy a home in a community without deed restrictions.  We are all free to do that, but taking away my right to live in a neighborhood with well manicured lawns… That’s not freedom at all.

Is this the end of the story…  No, it’s only the beginning.