The Gate Arty Blog - October 2008 Archive

New Home Sales INCREASE!

Tuesday, October 28, 2008 - By Gate Arty

The U.S. Commerce Department reported today that month over month sales of new homes rose 2.7% to 464,000 units in September. This was a huge development, considering most analysts had expected a drop from August.  The decline on a year over year basis, however, was more significant as home sales were 33.1% below year ago levels.  Perhaps bargain hunters are responsible for the monthly increase.The median home price dropped by 9.1% to $218,400, a level not seen since September 2004.  There are BUYING opportunities out there folks! Contact you loocal REALTOR now!

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Lakeland Halloween Parties - 2008

Tuesday, October 28, 2008 - By Gate Arty

Still haven't decided what Halloween party to attend? Well, the Polk Museum of Art is hosting a party on the 31st from 4 pm to 6 pm. You may register to attend by visiting the PMOA website.

Kids of all ages can attend the Halloween Boo Bash from 10 am - 1 pm & again from 4 pm to 8 pm. Explorations V Children's Museum will be hosting this festive event.

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Foreclosures up Again

Thursday, October 23, 2008 - By Gate Arty

RealtyTrac announced today that foreclosure filings were up 71% nationwide, in the third quarter over the same period last year.  Astoundingly, approximately 766,000 homeowners had a sheriff show up at the door and with a foreclosure complaint in hand! Six states made up for nearly 60% of the list: Arizona, California, Florida, Michigan, Ohio, and Nevada.  Most respected experts believe that this trend will continue well into 2010 as the market absorbs the inventory that is just now coming online.

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Terror on Pine Street - 2008

Monday, October 13, 2008 - By Gate Arty

Ghost & goblins will be appearing early this year on Pine Street in historic Downtown Lakeland. On October 24th, Keller Williams Realty will be hosting a FREE Halloween extravaganza  with spook-tacular festivities for the entire family.  Dress in your costumes for trick-or-treating in the Downtown shops between 5 pm to 7 pm. There will be music, pony rides, face painting, carnival snacks, "jump houses" & a costume contest! There will be a Kids Zone with games, but the centerpiece of the event will be the Spooky Haunted House. Warning: This will not be for the faint at heart! Word is that the scariest monsters are already awaiting your arrival in the dark alleys of Pine Street!

All donations received will go to benefit The Boys & Girls Clubs.

See you there!

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Commonground Park Construction

Friday, October 10, 2008 - By Gate Arty

Common Ground Park is currently under construction adjacent to the Beerman Tennis Courts in Veterans Park on Edgewood Drive. The park is also directly across from Cleveland Heights Golf Course and a short walk from Lake Hollingsworth. Common Ground Park will be Lakeland’s first “inclusive play experience.” The playground will have both traditional & nontraditional play areas designed for children of varying abilities & disabilities. It is estimated that there are approximately 15,000 special needs children in Polk County, so this is a welcome addition to the area’s numerous beautiful parks & facilities.

The project has received many grants, fundraising donations, & contributions. Most notable thus far have been these contributions:

• $200,000 grant from the Florida Department of Environmental Protection
• $580,000 from the extremely popular Kaleidoscope butterfly event
• $300,000 from local Lakeland Rotary clubs
• $200,000 grant from the state of Florida

Keep a lookout! Construction is ongoing.

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When Will Real Estate Values Rise?

Wednesday, October 08, 2008 - By Gate Arty

Historically-speaking, home values have ultimately risen after dramatic declines. No kidding, right? Although there isn't any widely known or accepted scientific methodology to pinpoint the top or bottom of any market, experts tend to agree that the following signs indicate an upswing:

1. Real estate values stop declining and begin holding steady or selling side-ways. Although it may seem like commonsense, determining the sales price of a home isn't as easy as it may initially appear. It is important to evaluate sale prices across different segments of the market. For example, luxury homes continue to fall (and thereby lower the mean selling price of all homes in the area) while affordable homes have already showed signs of holding steady.

2. Inflation. While inflation tends to hurt those on fixed incomes, or those who put money into savings accounts, it tends to help those who own commodities and hard assets like real estate, since the price of goods and services tend to rise in relation to inflation.

3. Lack of alternative investments. One of the reasons real estate gained such a great deal of appeal in recent years was a lack of viable alternative investments. Following the burst of the "dot-com" bubble, investors were seeking new ways to obtain greater returns on their money. Savvy investors always gravitate toward the segment which provides the best return on investment. Real estate has experienced a major decline, but so has each and every other form of investment, right?

4. Eased lending standards. The availability of credit and affordable low-interest rates is yet another major impetus toward creating rising real estate values. Credit-availability allows potential home buyers to obtain mortgages. Increased mortgage output in the lending industry, leads to more sales in the real estate sector, creating more demand for housing, thus eventually increasing property values.

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Lofts on the Park Tours on First Friday

Thursday, October 02, 2008 - By Gate Arty

This FIRST FRIDAY October 3rd, Gate Arty & the Group at Keller Williams Realty will host an Open House at The Lofts on the Park on Kentucky Avenue across from Munn Park. Take this opportunity to view this great building in Historic Downtown Lakeland.  Cathy Oliver will be your hostess & if you would like to RSVP, she may be contacted at CathyOliver@gatearty.com or 863.286.6732. Come enjoy all the art, culture, & festivities Downtown Lakeland has to offer. It's truly a great environment to live, work, & play in!

See you there! We'll be there between 5:30 p.m. to 6:30 p.m.

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