Competition Heating To Buy A Waverly Hills House - 07/31/12 07:12 AM
If you want to live in a great Tallahassee neighborhood that's inside of I-10, you should take a look at a Waverly Hills house.
Why? Because well established, in-town neighborhoods are going to be least affected by the housing market correction.
In the real estate graph above, two great facts are immediately obvious.
First, this is the best year (YTD through June) for Waverly Hills house sales in the Tallahassee MLS going back to 2002. Secondly, distressed property sales have dropped from 67% of the sold homes to just 9%.
Currently, there are 8 homes for sale in Waverly Hills, and … (0 comments)

Real Estate Inventory Report Uncovers Disturbing Trend - 07/30/12 05:53 AM
I conducted a real estate inventory analysis of the Tallahassee MLS in order to discover a pattern that might help explain a strange new twist being observed in home sales in Tallahassee.
Over the past 7 months, we have observed an improving trend in the number of homes going under contract each day, yet we have not really enjoyed the corresponding number of closed home sales being recorded.
By conducting a real estate inventory analysis, we were able to discover a dark new trend that all home sellers should understand.
In the real estate graph above, we can observe that there … (4 comments)

Is NARs Pending Home Sales Index Pure Fiction? - 07/27/12 05:38 AM
I have to admit it, the only reason that I read the monthly Pending Home Sales Index published by NAR is to see how they will spin the housing data into something positive for the housing market.
Imagine my "lack of shock" this month when I saw the positive report regarding 14 consecutive months of year-over-year gains in the pending home Sales Index. Of course, my memory reminded me that we continue to revise past numbers down so that current numbers appear higher.
If you would like to see the latest pending home Sales Index spin by the National Association of … (4 comments)

How Foreclosure Factories Are Creating A Crisis In Foreclosure Sales - 07/26/12 06:43 AM
There is a problem brewing with foreclosures in Tallahassee that has become evident at many of the closing tables across the US.
In fact, Lawrence Yun, Chief Economist for the National Association of REALTORS, pointed to closing delays in foreclosures as one of the reasons that existing home sales fell in June.
But why do simple closing delays matter?
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Imagine that you are starting a new job on October 1st, and you want to buy a home in Tallahassee and close on it near the end of September.
You really … (12 comments)

Anecdotal Evidence That Sellers Who Chase The Market Lose Money - 07/25/12 04:47 AM
Golden Eagle in Tallahassee offers some of the best golf course living in North Florida and features an award winning Tom Fazio golf course.
We have been providing home sales reports for Golden Eagle in Tallahassee for many years, and the changes that have occurred due to fluctuating market conditions is very evident in the real estate graphs that we provide.
Today's real estate market report shows not only the current trends in Golden Eagle Plantation, but also a real world example of a homeowner who chased the market and got burned.
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Warning Home Sellers: Foreclosures Are Now Your Competition - 07/24/12 06:49 AM
The newest numbers are out regarding foreclosures in Tallahassee, and they are not good.
The second quarter of 2012 showed a 102% increase over foreclosures in Tallahassee during the 2nd quarter of 2011, a staggering rise by anybody's standard.
Last year, banks were handcuffed due to the robo-signing scandal, but this year the gloves are off and the banks are trying to clear their books of these non-performing loans.
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WARNING: Cheap Lot Prices Are An Alluring Siren's Song To Homebuilders - 07/23/12 06:27 AM
It has been quite some time since we have reviewed residential lot sales in Tallahassee, and our update is quite revealing in terms of where the housing market is heading.
Currently, there are 623 residential lot for sale in Tallahassee, which represents more than 1 lot for sale for every 4 homes for sale.
Additionally, there are many more that are not listed, and we will see this abundance of developed residential lots continue to impact the Tallahassee real estate market.
In many Tallahassee neighborhoods, home builders are able to buy residential lots cheap and thus bring homes to the market … (9 comments)

First One To Correctly Price This Home Wins An iPad ** HURRY ** - 07/20/12 08:13 AM
In my attempt to explore every niche in the Tallahassee real estate market, I have found an interesting study surrounding houses with acreage.
Say for example you love horses and would like enough land to board your own horses, how much would you really need? 5 acres? 10 acres? 20 acres? 50 acres?
The price ranges vary so much, that I have decided to have a little contest that anybody can enter, and the winner will be awarded a brand-new iPad!
Win A Free iPad At the end of this article is a description and picture (with download-able flyer) of a … (9 comments)

You Can't Defy Supply And Demand In Real Estate - 07/19/12 06:08 AM
There is no better place to get information about home sales than the Tallahassee Board Of Realtors Multiple Listing Service.
The Leon County Tax Appraiser holds the data which contains all of the sale and property transfers in Tallahassee, and it is a wonderful resource.
But the Tallahassee Board Of Realtors Multiple Listing Service contains most of the sales and most of the homes for sale in Tallahassee, which means we can examine the balance of supply and demand.
It is this real estate supply and demand dynamic that best guides our forecasts, and this is why I so often write … (11 comments)

3 Tips To Buying A House When The Seller Won't Negotiate - 07/18/12 06:23 AM
I have been talking with quite a few people lately about how to buy a house in this very wonderful buyer's market.
In most cases, these people had been working with a friend (inexperienced in real estate), and they were finding great homes but could never reach an agreement with the homeowner.
Offers were made, but they kept losing out to other buyers.
How on earth do you keep finding homes with multiple buyers in a housing market that has a glut of inventory?
The Emotional Highs And Lows The most irritating side of this is the emotional highs and lows.
… (4 comments)

Real Estate Analogy Explains Why Recovery Must Continue Slowly - 07/17/12 06:23 AM
If you are one of the three thousand subscribers who received a copy of the Tallahassee Real Estate Newsletter yesterday, then you know that it contained some good news (finally) about home sales and a potential real estate market bottom in Tallahassee.
In fact, I had many subscribers reach out to me with feedback and comments about the good news, and many had the same question ...
Have we seen the real estate market bottom and how much longer are we going to have to work through this real estate market crisis?
Real Estate Market Bottom Creation In order to understand … (2 comments)

Consumer Confidence In REALTORS® Is Rising - 07/16/12 05:19 AM
Consumer confidence in Tallahassee REALTORS appears to be on the rise, with greater than 80% of all home sales in Leon County being reported in the Tallahassee MLS.
Homes sold by Tallahassee REALTORS have been rising for three years now, as many of the people who entered real estate sales during the boom of the housing market have decided to move on to a new career.
The real estate graph above shows that per-person productivity had fallen 65% from 2002 to 2009, but the last three years has seen a rise of 37%.
REMINDER: The 52nd monthly edition of the Tallahassee … (11 comments)

Real Estate Supply And Demand Moves To A Dual Market - 07/13/12 05:53 AM
In case you missed the message on Twitter (or Facebook), the July 2012 report on real estate supply and demand in Tallahassee has been published over at our Market Reports Blog.
We have to keep a close study on the real estate supply and demand in Tallahassee because we are moving to a new stage of the real estate market recovery where [hopefully] an increase in home sales is going to create pockets of imbalances in the market.
REMINDER: You can download a .pdf version of the Monthly Market Report anytime you like (available each month) from the Market Report link … (2 comments)

Mid Year Housing Report Forecasts 2012 Up 6% - 07/12/12 03:43 AM
It’s hard to believe that June is behind us and it’s already time for the Tallahassee Mid Year Housing Report, but the half-way point has been reached.
Based upon our normal seasonality statistics, the Tallahassee Mid Year Housing Report (sales from January through June of each year) usually represent 50.2% of the home sales for the year.
This makes it a good time to review the first half and to begin forecasting how 2012 will stack up when compared to previous years.
Tallahassee Mid Year Housing Report (Homes Sold) The next real estate graph in the Tallahassee Mid Year Housing Report … (1 comments)

Is Your High School Helping Home Sales? - 07/11/12 02:59 AM
Today marks the fifth and final post in our series on homes sorted by school zone with homes zoned for Rickards High School.
In case you missed the previous articles, you can also read about homes zoned for Chiles High School, homes zoned for Leon High School, homes zoned for Lincoln High School, and homes zoned for Godby High School.
Currently, buyers can choose from 376 homes zoned for Rickards High School and listed for sale in the Tallahassee MLS, which is consistent with Chiles, Leon and Lincoln, and fewer than those found in the Godby High School zone.
Graph Of Homes … (17 comments)

Luxury Home Buyers Moving To The Bobbins In Tallahassee - 07/10/12 06:31 AM
With only three homes for sale in the Bobbin neighborhoods, Bobbin Brook, Bobbin Trace, and Bobbin Mill Woods are enjoying a healthy real estate market thus far in 2012.
Having posted six sales closed thus far in 2012, it would appear as if the relative supply of homes for Bobbin Brook, Bobbin Trace, and Bobbin Mill Woods is at a very healthy level. Of course, we would have to ignore the rest of the luxury homes for sale in Tallahassee (we do not).
The real estate graph above shows thus far Bobbin Brook, Bobbin Trace, and Bobbin Mill Woods have not been … (0 comments)

How To Decide Whether To Sell Or Lease Out Your Home - 07/09/12 05:26 AM
If you are like many home owners and you are trying to decide whether to sell a home or lease it out, then you are in luck, as I have prepared a Sell Versus Lease Analysis model in order to help you weigh the ramifications of each decision.
Of course, the value of any sell versus lease analysis model is in understanding the assumptions used to create the model, so I have prepared a real-world example in order to demonstrate what one current homeowner should consider before deciding whether to sell a home or lease it out.
Building A Real Estate … (4 comments)

Will The Loss Of A Popular High School Principle Hurt Rebounding Home Sales? - 07/03/12 06:33 AM
After the great popularity of the article I recently published about homes zoned for Chiles High School, I felt compelled to follow it up with one about homes zoned for Leon High School.
Currently, buyers can choose from 354 homes zoned for Leon High School and listed for sale in the Tallahassee MLS.
As the oldest high school in Tallahassee, many of our long-time residents can remember when Leon High was the "only game in town."
That is not the case anymore, as many great "new" high schools have been built as well.
Consider this both an informational post about where … (2 comments)

Large Net-Worth Investors Are Moving To Large Parcel Land Sales - 07/02/12 05:31 AM
I was curious about Leon County land sales, or more specifically, how the large parcel sales were doing around Tallahassee.
If you are a long-time reader of the Tallahassee Real Estate Blog, then you are certainly aware of the fact that Tallahassee was over-built and over-developed during the boom of the housing market. This means that Leon County land sales have fallen greatly over the past six years, and the need for newly developed lots is many years away.
This lack of demand has driven values low enough that we have begun seeing investors move in to the Tallahassee real estate … (1 comments)

 
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Joe Manausa - Tallahassee Real Estate

Tallahassee, FL

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Century 21 Manausa and Associates

Address: 1140 Capital Circle SE #12A, Tallahassee, FL, 32301

Office Phone: (850) 386-2001

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