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The 4 Real Estate Graphs That Tell The Story Of Our Current Market Conditions - 02/29/12 07:10 AM
If you have been looking for a current real estate report for Tallahassee Florida, then you have found your destination.
While I strongly recommend you subscribe to the Tallahassee Real Estate Newsletter to be kept informed of the happenings in the Tallahassee Real Estate Market, this single article will give you a good idea of why home values will continue to decline in Tallahassee in 2012.
In order to provide what I consider to be the minimal real estate report for Tallahassee Florida, it must include a look at real estate supply and demand, the current trend of newly written purchase … (1 comments)
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6 Solid House Buying Advice Tips You Should Consider Before You Buy One - 02/28/12 08:58 AM
Today's homebuyer is especially cautious, so let's review some of our best house buying advice to help you avoid making some big mistakes.
We all know that the real estate market has been rocked. Tallahassee home values have been falling for more than five years, and the bottom is not yet appearing in our rear view mirror.
So what's a prospective home buyer to do? Do you sit out on the sidelines and hope to catch the bottom, or do you jump into the market and take advantage of historically low interest rates? You just need sound house buying advice.
I'm … (2 comments)
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Are You Tracking The Growth Of Foreclosed Homes In Your Real Estate Market? - 02/27/12 06:45 AM
If you are trying to sell a house in Tallahassee, you must understand that your competition is changing rapidly due to the growth of foreclosed homes in Tallahassee.
Even bigger than the supply of these bank-held assets are the short sales which are trying to avoid becoming foreclosed homes in Tallahassee.
We refer to all foreclosures, short sales, REO properties, bank-owned properties, and pre-foreclosures as "distressed properties," and their ranks are becoming larger with every passing year.
I find it important to keep my eye on the development of the distressed properties market, and in fact maintain a current list of … (5 comments)
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How We Can Use Real Estate Seasonality To Best Advise Home Sellers - 02/24/12 07:43 AM
Most people understand that the rate of sales in any real estate market changes throughout the year, but did you know it was possible to use the seasonality of home sales in order to forecast your local expectations?
By measuring the seasonality of home sales each year, we can identify the times of year where the most homes sell.
In fact, I have measured the seasonality of home sales in Tallahassee from 2002 through 2011, giving us enough data to thoroughly examine the home buying trends in the Tallahassee real estate market.
Seasonality Of Home Sales Graph
The real estate … (2 comments)
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Realty Supply And Demand - The Secret To Smarter Home Pricing - 02/23/12 07:16 AM
If you want to sell a home in Tallahassee (or anywhere else for that matter), then you better ensure that you have a handle on realty supply and demand.
The real estate market is no different from any other market, and the housing supply and demand situation is going to determine the direction and slope of value change.
In the simplest sense, if we don't have enough places to live, then people are going to be willing to pay more (whether renting or buying) to ensure they have adequate housing. On the hand, if we have too many homes, then highly … (0 comments)
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Watch Out! Foreclosure Filings Surge As Robo-Signing Is Put Behind Us - 02/22/12 08:16 AM
One of the most sought after topics on our website involves foreclosures in Tallahassee and how the impact of distressed properties for sale in Tallahassee is impacting our housing market.
While long-time readers of the Tallahassee Real Estate Blog know that they can always find timely updates on lis pendens filings and foreclosures in Tallahassee (by clicking on the "Foreclosures" tab in our navigation bar), I also like to emphasize significant trend changes as they occur.
Where Foreclosures Begin Every foreclosure sale that has occurred began first as a lis pendens filing.
Lis pendens is Latin for “suit pending.” This may … (3 comments)
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Reader Discovers That Not All Short Sale Realtors Are Alike - 02/21/12 07:14 AM
Imagine, you are upset with lousy service, so you go to Google and search for "short sale Realtor Tallahassee Florida."
Hopefully, you choose the link that brings you to the leader in Tallahassee short sales.
Unfortunately, many have found other ways to search for a short sale Realtor Tallahassee Florida, and it has caused nothing but heartache.
Short Sale Realtor Tallahassee Florida Sought I received the following email from a reader. He no longer lives in Tallahassee and has been trying to sell his home for more than 3 years!
I did not ask him how he chose his short sale … (3 comments)
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These Days, It's Not Enough To Get Your Home Under Contract - 02/20/12 08:12 AM
So you've been trying to sell a home for quite some time, and you finally have the home under contract.
Considering only 45% of home sellers over the past year have succeeded in selling their homes, you feel relieved to know that you will be joining that all-to-exclusive group.
But would you be shocked to discover that nearly two out of every three real estate contracts actually terminate without the home under contract going to closing?
It's Not Enough To Get Your Home Under Contract Sadly, only 37% of people who get their home under contract actually make it to the … (4 comments)
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Year 6 Of Falling Home Values Continues To Slow Recovery - 02/17/12 08:04 AM
If you wade through all the rhetoric that most people who report on housing spew, you will find that most US housing markets are still dealing with real estate depreciation.
And just to make sure that I am not lumped in with everybody else, let me simplify the term "real estate depreciation" and specifically say that home values are still dropping.
But here's the funny thing. I know that values are dropping, and I know that supply (both known and shadow inventory) far outweighs demand, but there are some very sound reasons for buying a home today.
We covered those reasons … (0 comments)
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Is There Such Thing As A Shangri-La In Real Estate? - 02/16/12 09:06 AM
I have been seeking a Tallahassee neighborhood for which I could report something different than all of our recent housing reports, and Barrington Park Condos in Tallahassee, Florida provides the relief that I have been seeking.
Could it be possible to find a niche; a community in Tallahassee where property values have been on the rise for the past three years?
How exactly would this happen and why might a neighborhood in Tallahassee completely disregard the trends in the rest of the Tallahassee real estate market?
Well, the fact is that Barrington Park Condos are entering the third year in which … (2 comments)
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Younger Neighborhoods Fighting Hard To Retain Fleeing Homeowners - 02/15/12 10:19 AM
Weems Plantation is a popular Northeast Tallahassee neighborhood that is undergoing some turmoil related to the age of the community, as are all newer neighborhoods around Tallahassee.
With home sales happening at half of our historical rate, we know that a shadow inventory of pent-up supply is growing, and thus so too will the list of homes for sale in Weems Plantation.
People who want to move, but know they owe more on their homes than what is worth, are growing in number. They want to flee, but do not know how.
The impact that this is having on neighborhoods in … (6 comments)
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Many Are Asking ... Should I Buy A Home In 2012 Or Wait Another Year? - 02/14/12 10:53 AM
A question on many people's minds these days is whether you buy a home or wait until home values fall even further.
We know that home values will continue to decline over the next several years.
And we also expect that these historic interest rates will not last forever.
In an attempt to bring clarity to the "buy a home or wait" debate, I have set up a real estate model that will help most people understand that the answer is fairly simple, but it varies for each person's unique situation.
Do You Buy A Home Or Wait - The Model … (8 comments)
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What Yogi Berra Might Say About Selling A Home In 2012 - 02/13/12 10:37 AM
Yogi Berra has said a lot of things about baseball, but what would he he say if asked about Selling A Home in 2012?
Berra was a fifteen-time All-Star, and the Major League Baseball MVP three times, in 1951, 1954 and 1955. While he is arguably one of the best baseball players of all time, he is better known for his "yogi-isms," his wonderful way with words.
I thought it might be interesting to apply some of his most often quoted expressions, but use them in reference to Selling A Home.
Yogi Berra On Selling A Home "Overwhelming underdogs" - if … (18 comments)
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Some Seriously Good News From FHA (Spread The Word!) - 02/10/12 10:36 AM
Changes have been made by the Federal Housing Administration (FHA) that are going to have an immediately wonderful impact on people who want to do a Tallahassee FHA streamline refinance.
You see, the FHA has found itself in a bad position, and perhaps it feels that best way to protect itself is to to do a little more of "what got us here in the first place."
So what the heck is this all about and who could need or want a Tallahassee FHA streamline refinance?
Defining Tallahassee FHA Streamline Refinance A Tallahassee FHA streamline refinance is simply a way for … (0 comments)
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Why Nobody Knows When Fannie And Freddie Will Come Tumbling Down - 02/09/12 10:07 AM
As our federal government continues to flail and waste time disputing who caused the housing market collapse, I just sit here wondering what we're going to do when Fannie Mae And Freddie Mac finally crash.
Did you happen to catch the Super Bowl this past Sunday? Even if you didn't, have you participated in our one-question survey about the impact of Super Bowl advertising? Please give us your quick answer by visiting our Super Bowl Advertising Survey (by clicking the link).
A long time buddy of mine send me a link to an article that really summarizes this concern for me. Christopher … (1 comments)
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Investors Should Understand Tax Computations After Short Sale Or Foreclosure - 02/08/12 11:47 AM
I have had quite a few conversations lately about the capital gains tax that results from a short sale or foreclosure, and what exactly what you should do when the lender sends you an IRS Form 1099-C.
First of all, as a quick disclosure to first-time readers ...
I am a real estate broker in Florida, not an Tallahassee accountant. Moreover, I will tell you that what you are reading should be taken with a grain of salt, and any points made should be validated by a competent accountant. Finally, choose the accountant wisely. As in all professions, only a portion … (1 comments)
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Millions Of Baby Boomers Need A Place To Stay - 02/07/12 10:02 AM
There are millions of baby boomers around the world trying to decide where to retire, and if long-term reader "Bill" has anything to with it, they are going to choose Tallahassee.
Bill has given the Tallahassee Real Estate Blog great feedback over the years, and his recent comments center on the fact that Tallahassee needs population growth to help the housing market recovery, and courting retirees could be a very wise part of this solution.
We have folks running around trying to attract new business and get "visitors" yet there appears to be no concerted effort to market Tallahassee as a … (2 comments)
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Somebody Tell The Feds That The New Mortgage Relief Plan Is Counterproductive - 02/06/12 10:37 AM
There was an article in yesterday's New York Times that explained the new mortgage relief plan, which is due to be signed today, is very close to completion.
Like so many articles that have been written about the housing market crisis, this one liberally showed how all the victims will receive assistance.
In case you do not remember, the victims of this are the homeowners who have or will lose their homes to foreclosure due to their failure to make the payments on the loan.
They are victims because the banks wrongfully forged documents to make the foreclosures happen.
Now I … (4 comments)
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The Real Key To Kick-Starting A Real Estate Market Recovery - 02/03/12 08:26 AM
When I attempt to put a time frame on the real estate market recovery, I start by looking at real estate supply and demand numbers for the entire country.
It is obvious to me that the supply of homes for sale still far outweighs the current rate of demand, yet when I read most of the marketing and blogs produced by real estate agents, the message seems to be that "the worst is now behind us and we are well into the heart of a real estate market recovery."
I'm sure for some that is true, but I suspect that most … (6 comments)
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Some Neighborhoods Are The Perfect Bell Weather For An Area - 02/02/12 08:59 AM
Homes in Tallahassee neighborhood Killearn Lakes have dropped in value by more than a third since the peak of the housing market.
As one of the most popular neighborhoods in Tallahassee, Killearn Lakes offers a great representative view of homes in Tallahassee, and currently there are 42 homes for sale in Killearn Lakes Plantation.
In the graph on the right, the green vertical bars show the number of arms length home sales each year, the red shows the number of distressed home sales each year, while the brown line measures the average price of homes in Tallahassee neighborhood Killearn Lakes that … (0 comments)
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Why Some Neighborhoods Sell Slower Than Other Comparable Neighborhoods - 02/01/12 09:25 AM
Piney Z home sales were down significantly in 2011, and a new "low" was hit with only 28 homes sold in 2011, down 10% from 2010. This means we have seen 8 straight declining years, something that I have not seen often from the rest of the Tallahassee real estate market.
Typically, when we see unit sales decline faster than the rest of the market, we are experiencing a Tallahassee neighborhood where home owners are “holding on” trying to find higher prices. This can work for a short period of times in a stronger market, but at some point, capitulation will … (11 comments)
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Joe Manausa - Tallahassee Real Estate
Tallahassee,
FL
More about me…
Century 21 First Realty
Address: 1140 Capital Circle SE, Suite #12, Tallahassee, FL, 32301
Office Phone: (850) 386-2001
Cell Phone: (850) 508-1544
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