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Tallahassee, FL:Summerbrooke Home Sales Continue Decline - 10/30/09 09:22 AM
Tallahassee has quite a few golf courses and most of them have neighborhoods that are built around and through the golf courses. In the northeast quadrant of Tallahassee, you can find the Summerbrooke neighborhood which is also built around a locally developed golf course. The Tallahassee Real Estate Blog often visits Summerbrooke in order to keep our readers informed of the activity in the housing market. As we have seen (and reported) in the past, Summerbrooke home sales continue to be affected by the market as much as any other neighborhood in Tallahassee. Summerbrooke Home Sales Stabilizing At 2 Per Month (2 comments)
Every time I do a Tallahassee neighborhood report featuring Piney-Z, it seems like my comments and email go from positive to negative. I have even been accused of “bashing” the Piney Z Subdivision (as if I hold a grudge against a community???). Certainly, that is not the case. Piney Z is a very desirable neighborhood located in Northeast Tallahassee, with home prices about 20% above the median for our county. I try to do regularly updates for many of the more active neighborhoods in Tallahassee, and Piney Z falls into this category. Monthly Resales Stabilizing In Piney Z This first (0 comments)
I am always looking for ways to discover earlier signs of impending movements in the Tallahassee real estate market. The key to forecasting the future is knowing the “natural order of things” and then looking for the first signs of the first steps in the process. The best forecasters build models, based upon the end-state that they are seeking, and them work them backwards, always seeking for clues of earliest signs. For example, we could create a simple model like this:
Home Sales In Tallahassee This shows the hierarchy of what must occur for us to see a turn (6 comments)
Anybody who knows me will tell you that I am an Army Football fan. I played for Army in the 1980s and I attend their annual football team reunion up at the academy each year. Recently, I had a conversation with a friend who is also a fan, but is (I believe) a little biased when reporting how well a team with a 3-5 record is really doing. Army played Rutgers this past Thursday night, but I did not watch the game. The next morning I read that we had lost the game, so I called my friend to see (12 comments)
Many home owners are stuck with a home that they cannot (or will not) sell in today’s market of falling home prices. They are looking for creative solutions and we have written many articles in the past about creative solutions to today’s real estate problems. Today’s home selling solution is a bit “out there” because it won’t be for everybody and it is restricted to people who have a fairly healthy stock portfolio. But even if these constraints don’t fit your problem, this will still be a healthy read because the same creative process might help you find a (6 comments)
Signs Of Stability In Southwood Home Sales - 10/23/09 08:29 AM
The newest home sales numbers are showing that Southwood is finally showing signs of stabilization, mostly in the number of homes sold though average home price drops seem to have slowed as well If you are a regular reader of the Tallahassee Real Estate Blog, then you know that we have reported on the Southwood Subdivision in Tallahassee for several years now, and have not been seeing much good at all. While it is way too early to that a bottom is in sight for Southwood, I would think that it will all depend on new construction levels over the next (0 comments)
Many people would argue that the Tallahassee Board of REALTORS® Contract for Sale and Purchase is the best document of its type in use in the State of Florida. While many housing markets in Florida use a different contract for the purpose of selling real estate, ours if considered the cream of the crop (at least by us Tallahasseans!). When looking at the contract used to buy and sell real estate in Tallahassee, one paragraph in particular demonstrates the effectiveness of the form versus all other rivals, and that is the paragraph dedicated to Wood Destroying Organisms (formerly called the (2 comments)
If you haven’t taken part in our real estate web site survey, we’d love to get your feedback. To do so, please click on this link to take the survey. It takes about 1 minute and you can help us redesign this site to be more useful. One reader provided an interesting observation about our graphing and charting techniques here on the Tallahassee Real Estate Web Site. This reader wanted to know why we relied so heavily on real estate one-year trend charts, as opposed to non-trended data graphs. Specifically, the reader asked So much of your data focuses on (10 comments)
So, what does it do? If you are a twitter user, click it to find out! It allows you to tweet this blog post! Each time I post a new blog, I just update the address in the html code so the permalink is for the current blog. Would you make a few more sales if you increased your traffic to your blog? I have! Add this little guy to your posts and hopefully you'll have the same results. (21 comments)
Downtown Tallahassee's Condo and Townhome Market - 10/20/09 05:48 AM
The downtown Tallahassee condominium market exploded with the housing market boom in 2004, and many people have asked me how that part of the Tallahassee real estate market is doing. I just received this question from reader “Joyce” who asked: Joe, I would like to see condo market [high rise luxury, etc] in zip 32301, prices, past selling prices, etc. Thanks. Joyce After knocking out the Tallahassee Real Estate Newsletter yesterday, I have a limited amount of time for today’s blog, so I will give a brief overview of what has occurred in the downtown Tallahassee market. Downtown Tallahassee Condo Sales (2 comments)
The national foreclosure crisis has affected nearly 938,000 properties in the July-September quarter of 2009 compared with about 890,000 in the prior 3 months according to a report released October 8th, 2009 on RealtyTrac , a site which monitors foreclosure across the Country. If you have fallen behind on your mortgage due to hardships, such as loss of income or marital change, you have options to avoid foreclosure. What Is A Foreclosure? Simply put, a foreclosure occurs when a borrower/mortgagee has not made the agreed upon mortgage payments and the lender/mortgagor takes possession of the home that was held as (8 comments)
Congress enacted the Real Estate Settlement Procedures Act (RESPA) back in 1974 in order to address problems in the real estate settlement process. It seems that Congress felt that they could legislate fair business practices and reduce fees and costs to home buyers through enlightenment about the settlement process and the associated costs that go with buying a home. RESPA’s mission is to provide consumers with information relevant to the mortgage transaction and the various costs that will occur. The hopes in founding RESPA was that many of the various kick-backs and referral fees, once identified and disclosed, would be (7 comments)
Foreclosures Rising In Tallahassee Neighborhoods - 10/15/09 07:59 AM
There is a growth of distressed properties that is appearing like a post tsunami tidal wave, and it is heading straight for the Tallahassee real estate market. The warning bells are sounding as we continue to monitor lis pendens filings and foreclosures in Tallahassee. If you have been following our tracking of foreclosures in Tallahassee, then you won’t be surprised that we have seen another large month of filings during the month of September. The Tallahassee Foreclosure Page on our web site is getting more and more traffic every day, so I suspect that this “wave” will not catch too many (2 comments)
Forecasting changes in the Tallahassee real estate market is part art, part science, and of course, a whole lot of experience. Knowing the past history of the market (by measuring long-term trends) helps us get an idea of where the market likes to be. But knowing what current buyer expectations and seller motivations (by working with customers buying and selling real estate) tell us short-term trend expectations. It is when we combine these that the art of the real estate forecast (we hope) is created. Past History Of The Real Estate Market If you are a regular reader of the (4 comments)
A recent Wall Street Journal article about the first-time homebuyer tax credit cautions buyers under contract to wait until after closing before purchasing appliances, furniture or similar items on credit. The article notes that some mortgage lenders are running credit reports on closing day, and even an additional credit inquiry (let alone a purchase) may raise a red flag that could require additional documentation and potentially delay closing. At Century 21 First Realty, we know how important the mortgage process is for more than 80% of our customers, so we thought we would share some insights regarding how lenders view (6 comments)
Wakulla County real estate reporting is sporadic at best here at the Tallahassee Real Estate Blog. I focus my efforts on Leon County, as it is truly the heart of my market area. But every once in a while, I think it is important to see how our surrounding counties are performing in home sales. This Wakulla County real estate report is happening today because I received a tip through our real estate survey asking that we keep reporting about Wakulla County on a regular basis. I mention this to point out how important your feedback is to determining the (4 comments)
Holy Cow! This is the 400th blog post at the Tallahassee Real Estate Blog, and the 633rd on Active Rain! I believe this qualifies us as “somewhat knowledgeable” in the real estate blogging arena, so we’ve decided to take what we have learned thus far and now make our premier web site for Tallahassee housing even better. This is where we REALLY, REALLY need your help. Your input will help us in the design of our new site, so we are asking that you take a very short survey and tell us what features you use from our Real Estate (4 comments)
Eight Thousand Dollars ($8,000) is a compelling enough reason for many to take advantage of the final days of the First Time Home Buyer Federal Income Tax Credit. But time is running out, as anybody who wishes to benefit from this program must close on the purchase of a property before December 1, 2009. For all of you procrastinators out there, you need to know that on average, a typical home sale in Tallahassee takes about 45 days from contract to closing. That means first time home buyers have roughly 1 more week to get a home under contract if (4 comments)
The relative home supply in Tallahassee improved again during the month of September. For new readers to the Tallahassee Real Estate Blog, relative home supply is the supply of homes for sale in Tallahassee, measured in months of supply, relative to the current demand for homes. By paying close attention to the supply and demand dynamic in Tallahassee housing, we can anticipate current and future housing market moves. Valuable Home Supply Report The report is valuable for all consumers, whether you want to buy a home in Tallahassee or sell a home in Tallahassee, it is good to know what (4 comments)
Tallahassee Home Sales Report By Zip Code - 10/06/09 07:09 AM
I was having a conversation with a customer yesterday about Tallahassee subdivisions and Tallahassee zip codes, or more specifically what was happening in various areas of the Tallahassee housing market. Even though she is coming to Tallahassee from another market out west, she was able to have a pretty solid grasp of where she wanted to live. By using the Tallahassee real estate blog, she was able to differentiate the different housing styles and amenities of Golden Eagle Plantation versus Southwood, and she had narrowed down her desired area to two specific zip codes. She even had specific questions about the (0 comments)
FHA Loans Gaining Popularity In New Mortgage Market - 10/05/09 08:41 AM
Do you ever wonder how much lending practices really affected the Tallahassee housing market? We read so many stories about “predatory lending” and abused government loan programs, that I got a little curious and decided to check out the history of mortgage loans in Tallahassee. I decided to limit my sales information to “arms length home sales” only, for two basic reasons. First, it would reduce the amount of sales that I would have to screen, and second, it would represent a truer picture of the normal real estate lending practices in Tallahassee. Different Home Loan Types In Tallahassee Over the (4 comments)
New Report Links Housing Bubble To Growth Management Policies - 10/02/09 10:20 AM
A new white paper was released yesterday by the Cato Institute which boldly claims that the cause of the housing bubble isn’t what everybody else has been talking about for the past few years. In this policy analysis, Randy O’Toole argues that the blame rests on a regulatory system known as growth management, saying Some people blame the Federal Reserve for keeping interest rates low; some blame the Community Reinvestment Act for encouraging lenders to offer loans to marginal homebuyers; others blame Wall Street for failing to properly assess the risks of subprime mortgages. But all of these explanations apply equally (6 comments)
How To Properly Understand Real Estate Trends - 10/01/09 12:21 PM
Real estate trend analysis is the process of collecting historical real estate sales information and attempting to spot a pattern, or trend, in the information. If we are vigilant, we can identify trends and trend changes even as they happen. I think we often are surprised with market movements when key trend tracking should have had us ready for the moves that are upcoming. The Tallahassee Real Estate Blog has made a commitment to continually monitoring the Tallahassee housing market. We post all kinds of charts, graphs, and analysis of the Tallahassee real estate market and we report trends and trend (2 comments)
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.