Southwood, a planned community in Southeast (SE) Tallahassee, FL, had 115 sales in the last 12 months - the largest number of sales in any Tallahassee subdivision. This is a very well planned community that has something for everyone.  

In addition to many types of housing options (large estate homes, mid-size homes, townhomes), Southwood has many recreational opportunities, parks, state offices, schools, and shopping. 

Of the 115 sales, 24 were townhomes with an average sale price of $147,448; 91 were detached homes with an average sale price of 289,164.

Large estate homes in Southwood

Townhomes in Southwood

 2011 Parade of Homes winner in Southwood

 Many  southwood neighborhoods overlook small lakes

Here are some additional statistics:

Southwood average sale price 2011 (Jan-Aug)  $269,189  vs  last year   $267,402

Average sale price SE Tallahassee 2011 (Jan-Aug)  $147,133  vs last year $163,951

Average sale price Tallahassee 2011 (Jan-Aug) $170,619   vs last year  $181,664

Southwood Currently Active Inventory: 70 homes

Southwood Absorption rate: 9.3 sales/month

Southwood Mos. of inventory: 7.3 (still a buyer’s market, but  approaching a balanced market for this subdivision)

It's easy to see why Southwood is a popular choice with Tallahassee buyers. 

For real estate purposes, Tallahassee is divided into geographical quadrants, (Northeast, Northwest, Southeast, Southwest) each with its own characteristics and market conditions.  The North-South dividing line is Meridian Rd that runs south into Monroe St; the east-west dividing line is Apalachee Pkwy which runs west into Pensacola St. 

Here is a breakdown of sales from Jan-Aug 2011:

The chart above shows that for 2011 YTD, the Northeast (NE) has almost half of all sales in Tallahassee.  

Northeast (NE) Tallahassee is in great demand by families since it has the most A-rated K-12 schools.  Homes are generally more expensive with an average sale price of $231K for Jan-Aug 2011. NE Tally has established neighborhoods and a few new construction developments.  Governor’s Square Mall is located here along with some popular restaurants and boutique shopping.  

NE beats the other quadrants for both higher prices and number of sales, although every quadrant has seen a dramatic decline in both.  NE 2010 Prices are just above 2004 levels while sales are below 2003 numbers.  Numbers for 2011 look promising, but it’s too early to tell whether they will exceed last year’s prices and sales. 

Southeast (SE)  has a few new housing developments, the most unique being  Southwood, a planned community that includes various housing options (large estates, mid-sized houses, townhomes, apartments) as well as community recreation and activities, schools, government offices, and shopping.

Northwest (NW) is a favorite of students who can afford off-campus housing; townhouses and condos are plentiful.  FSU is located in this quadrant, just north of FAMU. 

Southwest (SW) is  home to FAMU, and TCC. It’s a good option for students who want to walk to class.  Some community renovation projects are underway that are intended to improve the lifestyle and value of housing in this area. 

A worthwhile project seems to be sweeping the nation - making mats out of recycled plastic grocery bags to give to homeless people and shelters who serve them. 

The mats are thick and soft and provide protection from the ground. If they get wet, they dry quickly and they provide a measure of warmth if they are wrapped around the shoulders. 

Some of them have a pocket that can hold toothpaste and other small toilet articles.

They are easy to make and the materials are free. There are several videos on Youtube that show how to make them. Here is one:

In Tallahassee, the Trinity United Methodist Church meets every Tue and Thu at 10:30 to make mats. Feel free to call the church office (850) 222-1129 if you want to help or donate.

Tallahassee, like most of FL, has been impacted by the poor US economy, but not hurt as much as south FL.  As the line shows on the chart below, sales have been steadily decreasing since 2005, although the chart also indicates that sales may have started to level off.  

The bars in the chart above show the average sale price in Tallahassee since 2003. By the end of last year, values had fallen to 2004 prices, with the average sale price in Tallahassee at $180K.  Prices are still falling and the current average sale price is $170K.  

The next chart shows 2011 YTD sales vs 2010 sales. 

While the YTD sales for this year are slightly below the same period last year, the spike in June 2010 may be a result of the last minute buyers trying to take advantage of the homeowner’s tax credit before it expired and 2011 sales may catch up or surpass 2010.

Sales for 2011 started off better than last year with a steady increase;   sales for Jul and Aug are much better than last summer.  

Here are some other pertinent statistics:

• Currently Active in Tallahassee (Leon County) :  2,251 listings
• Absorption rate:  191 sales/month
• Months of inventory: 11.9  (buyer’s market)
• Average sale price: $170,863
• Average days on market (sold):  147

It’s a buyer’s market and they can be very picky since there is a lot of inventory.  Buying conditions in Tallahassee are ideal: prices are back to 2004 values and interest rates remain historically low.

Only about half the houses on the market are going to sell this year, so sellers must put their house in the best possible condition and price slightly below market to attract buyers and sell quickly. Values are still going down and to get the highest possible proceeds (which will likely be lower than the seller had hoped),  pricing correctly is essential.  

A conversation with Colleen McConnell, Advanced Realty Group, Tallahassee, Fl

Tallahassee is a multifaceted community rich in history, natural beauty, culture and arts, advanced education, and ongoing scientific pursuits. 

It’s the state capitol & home of the FL legislature, nine universities and colleges, historic landmarks, numerous museums, parks, and natural wonders, yet it maintains a small town atmosphere.

It’s not your typical Florida city – there are few palm trees and the beach is 45 minutes away,  but its rolling hills and live oak trees draped with Spanish moss give it a charm all its own … it’s a great place to get an education, build a career, raise a family, and/or retire.

The People

Tallahassee residents believe in higher education - 49% of the population has a bachelor’s, master’s, professional, or doctorate degree; Florida average is 22%; national average is 24%.  

Like most college towns, young people make up a large part of the population - 30% are between 18-24 yrs.  They help keep the atmosphere hip and vibrant and lend their energy and talent to the many cultural programs offered through the local universities.  

Our Town

Tallahassee is located in the FL panhandle in Leon County, with a population of 187,316 (up 20% since 2000).  The outlying counties, Gadsden, Wakulla, and Jefferson are part of the Tallahassee Metropolitan Statistical Area (MSA), with a total population of 367,413 (2010 census).  

Tallahassee city limits are bounded on the north by I-10, a major highway linking America’s east and west coasts, which gives easy access into and out of the city. 

Florida State University (FSU) and Florida Agricultural & Mechanical University (FAMU) are located in Tallahassee along with Tallahassee Community College (TCC) and six other colleges and universities.

The National High Magnetic Field Laboratory (Magnet Lab), which resides in Tallahassee’s Innovation Park, has the highest magnetic fields in the world. The Lab is a collaborative effort for the National Science Foundation between FSU, the University of Florida, and the Los Alamos National Laboratory. 

Magnetic research with high magnet fields is important to many scientific disciplines; over  700 scientists from all over the world visit the lab each year and may stay for weeks or months to conduct their research.  More information and a description of research projects can be found at http://www.magnet.fsu.edu/. 

The Downtown Cultural District is 10 blocks of culture and history with exhibits of interest to all ages. The Mary Brogan Museum of Art and Science, for example, is a resource for visual arts, hands-on science exploration, and humanities education.  

You could visit a live butterfly rainforest at the FL Museum of Natural History,  participate in a simulated space mission at the Challenger Learning Center, explore the beauty and natural wonders of the ocean in the Imax 3D theater, or visit the Knott House, where the Proclamation of Emancipation was read at the close of the Civil War. 

These examples only scratch the surface. There’s much more to satisfy many types of interests including historic landmarks, art shows, ballet, plays, symphony, lectures by renowned authors and other speakers through the programs at FSU and FAMU, and of course, well-attended football games in season.

Preserving its natural beauty is a high priority in Tallahassee as shown by the many well-maintained parks, forests, and canopy roads.  

There are nine official canopy roads in Tallahassee and they are what the name suggests – live oaks, sweet gums, hickory trees and pines trees on either side of the road whose branches reach across and form a canopy.  It gives the feeling of being in a type of cocoon and is a peaceful alternative to busy city streets. 

Schools and taxes

Leon County Schools (LCS) is home to more than 33,000 students and 5,000 employees. LCS has an overall rating of 9 (out of 10) for the state and 7 (out of 10) for the nation. 

Florida doesn’t have state income tax which is a boon to individuals and businesses alike. Sales tax is 8% and once a year, Tallahassee has a No-Sales-Tax day to help parents buy school supplies for their children.

Property taxes are used for the county’s general fund, schools, emergency services, and storm water management.  Homeowners are given various exemptions to lower taxable value. Once homestead exemption is established, there is an annual cap of 3% or CPI (whichever is lower) in an attempt to keep property taxes from becoming too burdensome.  

Future

Tallahassee is growing and city planners are always thinking ahead for ways to keep the city running smoothly and accommodate an ever-increasing population. Several collaborative projects between city planners and residents are underway in various areas of town utilizing the concept of Placemaking. 

Placemaking (www.pps.org) is an approach to building public spaces that encourages collaboration between city planners and residents to ensure that the end result meets common needs and will be welcomed and used by residents.  Each public space is designed to be interesting, comfortable & safe, attractive, and easily accessible. 

Lake Ella, for example, a popular lakeside retreat in Midtown, will be will be enhanced with public transportation options, bike paths, and other solutions to make it more pedestrian friendly and reduce parking problems.

Another Placemaking project underway is the Gaines street revitalization, which will create a destination district near downtown, between FAMU and FSU, with restaurants, residences and shops. 

A huge improvement to public transportation was implemented on July 1, 2011 that increased bus riders by 12%. The StarMetro system was streamlined to reduce travel time and make connections easier. Additional features such as internet access on selected buses, online purchase of passes, and texting to determine when the next bus will arrive has made it a big success.

Realtors and Technology

Realtors in Tallahassee have embraced technology that will make it easier for their customers to buy and sell a home.  Tallahassee Board of Realtors (TBR) utilizes keyless lock boxes, online MLS services for Tallahassee and surrounding counties, automatic listing syndication from MLS to many popular home search sites, and Tallahassee-specific transaction documents that are tailored by TBR attorneys for ease of use and updated regularly to comply with the latest laws and regulations.  

In addition, Florida Association of Realtors provides tools such as FormSimplicity which works with Docusign to allow online transactions that are secure and mobile. 

Words of wisdom

It’s still a buyer’s market in Tallahassee with short sales and foreclosures accounting for over 20% of total sales. Values have fallen to pre-boom prices and there is way too much inventory - over 12 months in most areas and more in outlying counties. This makes it a bonanza for buyers and investors since there are many homes in fairly good condition at greatly reduced prices. 

About Colleen

Colleen grew up in a military family with deep roots in upstate New York, short-tem residences in eight states, and one delicious year in Paris, France. She has a BS degree in Computer Science and was a software development manager for many years before beginning a real estate career.  Colleen has been in Tallahassee since 2000, and has been a Realtor since 2006. 

A group of local businesses and community leaders have developed an idea to boost Tallahassee’s economy and housing market.  They have formed a Choose Tallahassee Action Committee that will launch a campaign in early 2012 to entice Baby Boomers across America to retire in Tallahassee. 

There are roughly 78 million Baby Boomers in the USA. If the campaign was able to attract as few as 2,000 boomers, it would have a big impact on Tallahassee.

There is much in Tallahassee to attract retirees. The climate is mild, there are many cultural events and activities, people are friendly, and excellent medical care is available.

An AARP poll indicates that one out of four boomers is looking to relocate after retirement and according to Dave Bruns, marketing manager for AARP’s Florida State Office, "Tallahassee  has what today's boomers want."

A few Realtors have commented recently that they always refer family and friends to a different agent because they don’t want to risk the relationship.  I find that surprising when the Real Estate business is all about maintaining good relationships.

Furthermore,  I don’t know any Realtor who knows more or would take better care of my family and friends than I would. My family and friends already know that I’ll put their needs first and tell them the truth;   I have to work harder for new customers to realize that this is the way I operate.

This afternoon on the radio, Rep Connie Mack talked about the “One Percent Spending Reduction Act," legislation – also known as the "Penny Plan" – that was introduced by Senator Mike Enzi (R-WY) last week, and authored by Congressman Connie Mack (R-FL) last spring in the U.S. House of Representatives. 

The Penny Plan balances the budget by:
    • Cutting total federal spending by one percent each year for six consecutive years,
    • Setting an overall spending cap of 18 percent of gross domestic product in 2018, and
    • Reducing overall spending by $7.5 trillion over 10 years.

If Congress and the President are unable to make the necessary cuts, the bill’s fail-safe triggers automatic, across-the-board cuts to ensure the one percent reductions are achieved.

This plan makes perfect sense and will dig us out of the financial hole we’re in. But Mack said that the House was unwilling to even vote on the plan. I can only guess it’s because this plan actually has some teeth and Congress isn’t serious about solving the debt crisis.

The Boehner plan on the other hand,  calls for cuts, but they’re not actual reductions in current spending, but rather cuts to the automatic increased spending that’s part of Congress’ baseline budgeting.  If passed, the “cuts” are to be made over the next 10 years, which would NOT decrease the annual deficit, would continue to increase the national debt, and aren’t likely to ever happen at all if a future Congress doesn’t want to implement them.
 

Tallahassee’s previous transit system required passengers who needed to change buses to travel downtown to the central bus station to get their connection. This was a hassle and time-waster for everyone.

On July 1, 2011, the system was replaced with a decentralized one that makes a lot more sense and saves everyone time. There are now 12 connecting points on the route and you no longer have to go to the central facility.

The change has resulted in a 12% increase in riders.  Like any new system, there are a few kinks to work out and feedback from customers has helped the city design some minor route changes and bus frequency to make the ride more convenient for customers. These changes will take place on Aug 1 and details are posted on the Talgov website.

StarMetro, the transit system, for the City of Tallahassee, FL, operates 12 cross-town routes, university shuttles for Florida State University and Florida Agricultural & Mechanical University as well as a paratransit service, Dial-A-Ride, for senior and disabled customers. On average, StarMetro provides nearly 4.5 million trips per year.

Other new features that make StarMetro easy to use include:

• "Next by Text." New text messaging application alerts customers of next bus arrival times. Just enter the stop # of your location and get a text with the next arrival time.
• Online purchase of fare card with credit card. Previously, riders had to pay cash for a fare card at the downtown facility.
• Each StarMetro bus accommodates two bicycles and some shelters have bike racks.
• Free wireless internet access is available on select StarMetro buses.

In addition, a Transportation Feasibility Study will begin sometime in Sept 2011 and should be complete by the end of 2012. The study will look at advanced transit options, such as bus rapid transit, light rail, and streetcar with interconnections between the universities and downtown in an effort to increase the livability of the downtown district and reduce the use of personal vehicles. 

Peter and Linda Pfann have taken a positive approach to counteract the lagging economy and difficult housing market by encouraging agents to focus on efforts at recovery.  This may not turn the market around, but is likely to give us encouragement and renewed energy as we deliberately focus on the positive side of what's happening in real estate.