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Housing Market Forecast 2021 + Q1 Updates



  
Wow! What a crazy ride this real estate market has been on. The first Quarter of 2021 was even crazier than all of 2020! 
No doubt Home Sellers have prospered. And Buyers you have have too. 
 
Today We’re going to take a look at what happened in first quarter of 2021 and what I predict ( and why!) of what we can expect to see in the second and third quarter of this year... Strap in..You’re going to want to watch  this! 

Hi, I’m Lisa Kelly Lakeland Homes and Lifestyles with Premier Realty. I’m here most every single Monday with a new video to help you make smart decisions when buying or selling a house. You’ll also want to check out the links in the description that could save you a ton of money..  

First ,  
let's take a quick look at what the bottom line was for the first Quarter 2021 in Lakeland Florida. 
Lakeland had record numbers last quarter  
We ended the first quarter with only 264 listings in March. 
The average selling price is staying fairly consistant at around $257k as of the end of the first quarter. 
Here’s what is causing all the craziness right now... We only have barely one month supply of homes. 
That means that if all the homes currently listed sold, we would Zero homes for sale in a 30 days. 
In a balanced market we should have an average of 6 months supply homes.  
 You probably want to know 2 things: 
Are these trends on track to continue into  2021  and how does this effect you? 

It’s been a year since Rona turned our lives up side down. As a Realtor, I never would have thought that zoom would become one our most important tools. Honestly, 5 years ago, I didn’t even know what zoom was. But we all quickly adapted to “safe showings”, Zoom conferences, and like most of the country....Working from Home. 

Working remotely  is the New Normal.. Which brings me to my first prediction: 
I predict we will see more homes come unto the market as families are needing more space; and now not so concerned with wanting to be within a certain drive time to their workplace.  
It would make sense from a purely economically view point too: 
Coupled with being in a hot sellers market, historically low interest rates and the money saved on  transportation costs. Chances are, you could sell your current home and buy a larger home and your payments would not change much..They may even be less! 

My #2 prediction is that available inventory will increase due to the Mortgage Forebearances Exits. 
But not Until Fall. I know some experts are predicting we will start seeing an onslot of forclosures in the second quarter...And in some parts of the country that may be true..  
For one, I do not believe the numbers of these foreclosures are going to be anywhere near the horriffics of the  2009 Era..  

The government has extended the time line to August 2021, making the peak time for the forebearance Exits being around October-November 2021. 
With employment coming back slowly, I believe most of these people will be able to pay. 
However, There is some bitter-sweet news for those who will not be able to pay at the end of the forebearance.  
Most likely they have equity and will be able to sell without having to go through a foreclosure and walk away with a healthy proceeds check in hand. 
I’ll be talking more about that in an upcoming video. 

Another prediction I have for the 2nd and 3rd quarter of 2021 is the number of housing starts.. Meaning the number of New Construction homes that will be able. Yes, I believe we will see New Construction Homes experience an inventory shortage too. 
The price of lumber,concrete and other building materials have skyrocketed along with manufactures delays for items like windows and doors. Completion dates are being pushed back and delays on starts will be the new normal. 
Let me tell you a quick  New Construction story that actually happened this past weekend. This is something I thought I’d never experience with a buyer.  
I have a Cash buyer who is relocating from California and had fallen in love with a particular New Construction community and wanted to inquire about building.. 
Because of his time line, there was nothing available, not even an available lot to choose until late June, which means a completion date around October, if we are lucky. 
The builders rep called me that afternoon and said there in one house that has already been started, but is going back on the market and asked if my buyers might want it.  
This was not my buyers ideal model, but they loved the lot, love the community and wanted to give it a go. 
In that very short time in between phone calls, there was now 3 other offers on this same house! 
I was thinking that was crazy!..A bidding war on a new construction home..Never have I experienced that! 
But New Construction “bidding war” is not like the bidding wars we are negotiating on existing homes where we see higher prices, contgingencies waived . 
When there’s Multi offers on planned development new Constructions homes..it’s not about price.. It’s about terms, and which offer is financially strongest. The price and builder incentives remain the same in all the offers. 
To make a long story short, my buyers offer was chosen.. 
The reason I told you this story ties back to the question we asked at the beginning of this video.. 
How does these continuing trends effect you. 
If you are a buyer...Good News.. 2 Things: 
Inventory will increase in the coming Quarter. 
Interest rates will remain historically low  
But you have GOT TO BE on your ‘A Game’. Meaning having all your financials solidified before you start looking at homes. Even with the predicted increase of inventory, we will still be in a sellers market with multiple buyers for the same house. Especially in the median price range. 
A seasoned Realtor should already have a plan in place, tailor made for your situation when the time comes to be a contender in trying to buy your ideal home. If they don’t, find one who knows how to write a winning purchase offer. 

If you a homeowner thinking about selling. Please don’t think just because we are in a hot sellers market that your home will automatically have multiple offers on the first day. Please listen to your Realtor’s guidance and advise. 

We’re in for at least another 6 months of the same pace we have seen in the first quarter..but with a few twists and turns..  
I’m Lisa Kelly, and I hope you find my videos helpful when making the biggest decision of your life. If you do, please take a sec and subscribe to my channel and give me a thumbs-up 

Until then, I’ll you on the next one. 




 

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What my clients are saying  

My experience while purchasing my first home was the best experience I've ever experienced. With Lisa's guidance it was a stress free experience. She made sure I was comfortable and understood every step. She gave her opinion from the heart. You can tell she genuinely wanted you to have the home you desired. She is very personable and that's great when you are purchasing a large investment. I am forever grateful of her help. So if you are looking to have a wonderful experience while purchasing or selling any property Lisa Kelly Realtor is the way to go.

 

~ Candace Engram

I had such a positive experience working with Lisa. Not only is she a complete professional, but such a compassionate human being. Her knowledge guiding me through the Florida real estate process was so helpful as a first-time Florida homebuyer. She was always prompt and responsive while going above and beyond. She attended all key inspections in person and kept me informed throughout the entire process. If you are looking for a great real estate experience, look no further. Lisa is your gal to get the job done. I will definitely be working with her again in the future.

 

~ DJ Bradley

I had such a positive experience working with Lisa. Not only is she a complete professional, but such a compassionate human being. Her knowledge guiding me through the Florida real estate process was so helpful as a first-time Florida homebuyer. She was always prompt and responsive while going above and beyond. She attended all key inspections in person and kept me informed throughout the entire process. If you are looking for a great real estate experience, look no further. Lisa is your gal to get the job done. I will definitely be working with her again in the future.

 

~ DJ Bradley

We can’t say enough good things about Lisa Kelly! From the moment she stepped through our front door, she demonstrated all the characteristics you want in your realtor: integrity, friendliness, optimism, thorough knowledge of her field, state-of-the-art technical savvy, unflagging energy and sensitivity to all our own needs and feelings. Our house sold in four days and we are certain this success was largely due to Lisa’s skill and hard work. We highly recommend Lisa Kelly to anyone looking for a top notch realtor!

 

~ Tom and Kim Manske

We can’t say enough good things about Lisa Kelly! From the moment she stepped through our front door, she demonstrated all the characteristics you want in your realtor: integrity, friendliness, optimism, thorough knowledge of her field, state-of-the-art technical savvy, unflagging energy and sensitivity to all our own needs and feelings. Our house sold in four days and we are certain this success was largely due to Lisa’s skill and hard work. We highly recommend Lisa Kelly to anyone looking for a top notch realtor!

 

~ Kim Manske

Sidney Wyland Lisa Kelly was our realtor that helped us with our move from Utah to Lakeland. She is a very good resource for us in Lakeland and helped us buy our new home. We found Lisa on the internet. She has helped us with all the contacts and scheduling to insure all things here went smoothly. The closing on our home was completed on time which was very important as we had are household goods being delivered from two different states. She also continues to be there for us for any referrals or help we may need here locally. I would highly recommend her to anyone buying a home.

 

~ Rick and Sidney Wyland

Just wanted to thank Lisa for a job well done. I worked with Lisa on 2 of our homes this past year. We sold one in June and another late in the year. Everything went smooth and all details were handled in a very professional manor. Thanks again Lisa; nice working with you. Lee Brown

 

~ Lee and Frankie Brown

We had been looking for a new home for about three months. We changed Realtors and began working with Lisa. She showed us a couple of places. We talked about limits on price and location. We looked again on a couple. We did not care for those. She emailed us about a home that was being restored for a flip. We met her at our current home. We liked the location and made an offer which was accepted. She did a great job getting the seller to accept and a wonderful job from there. The closing took about fifteen minutes. We have been very happy from that day on. Patricia and Bill Crabb

 

~ Bill and Patricia Crabb

We had been looking for a new home for about three months. We changed Realtors and began working with Lisa. She showed us a couple of places. We talked about limits on price and location. We looked again on a couple. We did not care for those. She emailed us about a home that was being restored for a flip. We met her at our current home. We liked the location and made an offer which was accepted. She did a great job getting the seller to accept and a wonderful job from there. The closing took about fifteen minutes. We have been very happy from that day on. Patricia and Bill Crabb

 

~ Bill & Patricia Crabb

Just wanted to thank Lisa for a job well done. I worked with Lisa on 2 of our homes this past year. We sold one in June and another late in the year. Everything went smooth and all details were handled in a very professional manor. Thanks again Lisa; nice working with you. Lee Brown

 

~ Lee & Frankie Brown

01/03/2017 - shunter317 Bought a Single Family home in 2016 for approximately $175K in Lakeland, FL. Local knowledge: Process expertise: Responsiveness: Negotiation skills: Lisa is an exceptional agent as she knows real estate law and the local market. She communicates and is extremely responsive to her clients questions and needs. She walked us through a complicated contract. We consider Lisa a new friend.

 

~ What Others Had to say

Highly likely to recommend 08/09/2016 - HappyBuyerNEOH Bought a Single Family home in 2016 for approximately $225K in Lakeland, FL. Local knowledge: Process expertise: Responsiveness: Negotiation skills: I highly recommend Lisa Kelly! She was awesome to work with through the whole process. Her communication and promptness went above and beyond my expectations. Working in the mortgage industry, I see all types of realtors, if you want a genuine, awesome, go getter- she is your girl!

 

~ What Others had to say

Highly likely to recommend 10/27/2014 - jessbparker Bought a Single Family home in 2014 for approximately $75K in Auburndale, FL. Local knowledge: Process expertise: Responsiveness: Negotiation skills: I cannot say enough about Lisa Kelly. She helped my husband and I buy our first home when we had limited funds and difficult circumstances. She is extremely knowledgeable about homes, market, taxes- anything you could want to know. She is also an excellent advocate for her clients during negotiations, which really came in handy when you're a nervous first-time home buyer.Less

 

~ What others had to say

Highly likely to recommend 02/22/2014 - par167 Bought a home in 2014. Local knowledge: Process expertise: Responsiveness: Negotiation skills: Lisa Kelly is the hardest working woman I know! If you are in the market to buy or sell take it from my personal experience she delivers results!In Polk County or anywhere else for that matter you will be hard pressed to ever get better service. Paul Renner.....

 

~ What others had to say

Highly likely to recommend 02/25/2012 - user027478 Bought and sold a Single Family home in 2011 for approximately $275K in Lakeland, FL. Local knowledge: Process expertise: Responsiveness: Negotiation skills: Lisa is the most professional realtor I've ever worked with... she's direct, honest, highly-knowledgable, very responsive and a consummate professional. She played fundamentally important roles in helping us to sell our house in a tough market. She's a hard worker and also gave us great advice and we were able to sell after listing for about 30 days. She then helped us find and close on our dream home. Her persistance and negotiating savvy helped us buy a house that was not a very convential listing. If we'd had an average realtor, we'd have been a lot less successful with both our deals. I'd recommend Lisa to anyone who wants to work with a genuine professional. She could write a book on what it takes to be an outstanding service provider.

 

~ What others had to say

02/09/2012 - Alyson7707 Bought a Single Family home in 2009 for approximately $125K in Bartow, FL. Local knowledge: Process expertise: Responsiveness: Negotiation skills: We absolutely loved our experience with Lisa.. She is incredibly knowledgeable and dedicated to finding the home of your dreams. We couldn't be happier with the home she found us or the time we spent with her--she made the experience exciting and easy. We do not hesitate to recommend her to friends and family and will absolutely work with her in the future. Thanks again Lisa! -Michael & Alyson Elrod

 

~ what others had to say

Highly likely to recommend 02/08/2012 - AimeeWeed Bought a Single Family home in 2010 for approximately $100K in Auburndale, FL. Local knowledge: Process expertise: Responsiveness: Negotiation skills: Lisa was always quick to respond to my questions. I honestly think that my family and I would not be in this wonderful house without her hard work. She is honest, not afraid to give her opinion in a helpful way, and she is very knowledgeable in all aspects of her job.

 

~ what others had to say

Wonderful wonderful experience. Lisa is what I call a dream maker. I had the dream, and she made it a reality.Lisa's hard work, her quick response, her compassion in knowing I was a single mom purchasing my first house, has earned my loyalty in using her as my realtor for life.

 

~ what others had to say

Highly likely to recommend 03/09/2011 - reedswife11 Bought and sold a Single Family home in 2011 for approximately $75K in Lakeland, FL. Local knowledge: Process expertise: Responsiveness: Negotiation skills: This woman is amazing, we have run into every road block imaginable and she has negotiated our problems quickly and effectivly everytime. Always available and Always puts her clients first

 

~ what others had to say

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