real estate report tallahassee: CBS Evening News Can't Hide It's Appetite For Real Estate Trends - 06/13/13 06:26 AM
I just received the data last night that will help me summarize current trends for home sales in Tallahassee, but first a "small world" story is in order.
Michelle and I were at the hospital Tuesday night, waiting for our daughter (Sami) to get out of surgery, when the national CBS Evening News came on.
The news story morphed from the NSA Leaker to the fact that Google is being sued for breach of privacy ... and that's where the "small world" bomb dropped.
Housing Trends In Tallahassee
So they start interviewing a guy about how Google monitors our emails and search histories. While … (0 comments)
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real estate report tallahassee: How Home Values Will Change In 2013 - 02/04/13 04:18 AM
If you are planning a move in 2013, it is important to keep a close eye on Tallahassee home prices and values to follow the trends.
The changing trends will allow you to understand the negotiation balance when you attempt to sell a home in Tallahassee and then also when you buy a home as well.
As we observe in the real estate graph above, Tallahassee home values are still nudging downwards.
Tallahassee Home Prices Versus Values The first thing to understand is that average home prices and average home values are two different things.
Average values reflect real estate appreciation … (2 comments)
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real estate report tallahassee: January Home Sales Volume Up 242% Over January 2012 - 02/01/13 05:06 AM
News reports from around the Country report that January home sales are up over last year.
Of course, it is too early for them (and me) to have solid numbers for January, so I've decided to compare our January home sales from 2013 with our recent past January home sales.
As the real estate graph above shows, the results were very positive!
January Home Sales Volume Up 242% Over January 2012 The graph below shows even stronger results. Century 21 Manausa and Associates recorded new contracts last month exceeding $8M, smashing the records of every other month going back to 2009.
… (2 comments)
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real estate report tallahassee: Don't Let Loose Use Of Terminology Impact Your Housing Reports - 01/31/13 06:22 AM
Yesterday's article Mixed Trends For Real Estate In Tallahassee (regarding conflicting reports from the MLS) generated some good feedback from readers that I believe warrants a continuation article.
The questions and comments all focused on the conclusion regarding the causation of the declining pending home sales in Tallahassee, even as the number of closed home sales in the Tallahassee MLS is rising from the market bottom.
Homes Under Contract In The Tallahassee MLS Long time reader "DA" has a few ideas about the cause of the decline of new contracts that seems to coexist with the rise in closed home sales … (0 comments)
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real estate report tallahassee: Just Released: 2013 Housing Forecast Calls For Significant Growth - 12/24/12 06:53 AM
As another year winds to a finish, it's time to look forward with a real estate outlook for the coming year.
Long time readers of the Tallahassee Real Estate Blog might remember past efforts to predict the real estate activity for the coming years. My real estate forecast for 2012 was spot-on, and my past five years efforts have been very close. (For those that are interested, you can find my past real estate forecasts here).
But the real estate forecast for 2013 is going to be the toughest one since 2006.
Real Estate Outlook Is Based Upon Current Trends The … (2 comments)
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real estate report tallahassee: Track These MLS Trends To Clearly Understand Your Local Housing Market - 10/03/12 05:45 AM
The year is 3/4ths of the way completed, so I felt it was time for an updated Tallahassee real estate market snapshot.
Every so often, I like to just "listen" to what the data from the Tallahassee MLS is saying, as it produces a real estate market snapshot that will tell us what to expect over the next few months.
Activity Reports Create A Real Estate Market Snapshot The real estate graph above shows that buyer activity is on the rise, and the one-year trend of daily closed home sales is stronger than it has been for two years. Needless to … (4 comments)
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real estate report tallahassee: Daily Closed House Sales Show Long-Term Improvement - 09/18/12 04:59 AM
As I was compiling information for yesterday's Tallahassee Real Estate Newsletter, I could not help but [cautiously] smile at the pending house sales report.
While the Tallahassee real estate market has a long, long way to go to return to normal, it is nice to see the first real long-term positive trend since 2005. Yes, 2005.
Daily Closed House Sales Show Long-Term Improvement Of course, growth in pending contracts (the number of homes under contract in the Tallahassee MLS) means nothing if they do not result in an increase in house sales. Fortunately, they have.
In the real estate graph below, … (0 comments)
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real estate report tallahassee: What's Happening In Your Metropolitan Statistical Area (MSA)? - 09/17/12 04:04 AM
There are signs of a slowly improving housing market in the Tallahassee MSA, but our region is still glutted with too many homes for sale in the Tallahassee MLS.
Normally, the Tallahassee Real Estate Blog focuses solely on the housing market in Tallahassee (Leon County), but every so often I like to expand it to our entire Tallahassee MSA.
Wikipedia defines an MSA this way:
A Metropolitan Statistical Area (MSA) is a geographical region with a relatively high population density at its core and close economic ties throughout the area. Such regions are not legally incorporated as a city or town … (4 comments)
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real estate report tallahassee: NAR Should Sponsor A "Lies Of Omission" Designation For REALTORS - 09/03/12 07:22 AM
I continue to shake my head in awe at the deceptive real estate report that is published each month by the marketing department of the National Association of Realtors.
If you are a long-time reader of the Tallahassee Real Estate Blog, then you know that I report on NAR's opinion reports each month. They continue to spiral down the path of marketing and promotion, rather than reporting the true state of the real estate market. And their biggest crime is not what they are saying, it is what they are implying.
In its most recent real estate report, NAR wrote:
The … (41 comments)
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real estate report tallahassee: What Supply Looks Like At Historical Rates Of Demand ... GOOD! - 08/30/12 07:14 AM
While we know there is an abundance of homes or glut in the Tallahassee real estate supply, it is important to know that the real issue is not a supply-side problem anymore.
All the questions and signs make it appear as if real estate supply (or over-supply) is the culprit:
Are there too many homes for sale in Tallahassee? Yes. Is the wave of new foreclosures only going to add to the real estate supply in Tallahassee? Yes. Is the shadow inventory of homes and the large group of homes that failed to sell recently a major source for our future … (10 comments)
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real estate report tallahassee: John Wayne Speaks Out On The Current Housing Market - 08/22/12 06:04 AM
After watching a late night replay of an western film, I had to wonder what John Wayne would say about the housing market today.
John Wayne was one of the best known actors from the 1940s through the 1970s, and he usually starred as a rugged macho type who was calm under pressure.
If "the Duke" was here combating the housing market today, I think he would have a few choice words of advice for those of us who must contend with the problems of short sales, foreclosures, and bank owned properties in Tallahassee.
John Wayne On The Housing Market Today … (0 comments)
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real estate report tallahassee: Split Market Is Next Step In The Housing Market Recovery - 08/20/12 08:23 AM
Having reviewed the supply and demand for real estate in Tallahassee almost every day for more than 6 years, it is not too difficult to provide an accurate Tallahassee real estate forecast.
But several years ago, just to ensure that I was not missing something, I began to study the Tampa housing market too, with the idea that I would perhaps learn something from how the two markets compared and/or contrasted. And I have.
Tallahassee Real Estate Forecast Using Tampa As A Model In the real estate graph above, the yellow band represents "market equilibrium" for Tallahassee. Currently, every price range … (2 comments)
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real estate report tallahassee: How The Real Estate Market Looks Without Distressed Home Sales - 08/11/12 05:31 AM
Tallahassee home owners considering a sale have most likely heard how tough the housing market is.
They might have heard some good news about Tallahassee house sales finally starting to turn around with modest gains over last year's "Worst Year Ever" performance.
Upon entering the market however, they will find that 2012 is the toughest year on record to sell a Tallahassee home.
Yep, that's right, the gains that we see in the Tallahassee real estate market are coming from distressed house sales, not from people with equity in their homes.
When we look at the real estate graph above, we … (4 comments)
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real estate report tallahassee: 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)
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real estate report tallahassee: 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)
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real estate report tallahassee: New Poll: Should REALTORS Report Current Housing Market Conditions? - 06/18/12 07:12 AM
I have received mixed feedback over the years regarding my style of housing reports and whether or not I am providing a valuable service to people involved in the Tallahassee real estate market.
I love feedback, whether positive or negative, as it helps provide guidance for the future articles that I publish here. My focus has centered around housing reports and the topics that are important to our customers who are buying a home or selling a home in Tallahassee.
Recently, I received (in the same day) two very opposite bits of reader feedback, and both related to my housing reports.
… (7 comments)
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real estate report tallahassee: Shocking 80% Of Housing Reports Have Shown Declines - 05/17/12 06:16 AM
The numbers for April are in, and the Tallahassee housing market is reporting 6 straight months of declining home sales in the Year over Year Real Estate Report.
While most of the data we use for our real estate reports comes from the MLS in Tallahassee, we occasionally look to the bigger picture and use information on Real Estate Reported to the Leon County Property Appraiser. This includes all of the MLS sales, as well as those sales that occurred without the use of a Realtor.
I point this out because Realtor reports (including the ones that I provide) that solely … (6 comments)
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real estate report tallahassee: Where To Get The Lowdown On The Housing Market Slowdown - 04/17/12 05:54 AM
I have been tracking the housing market slowdown from two different sources of real estate information.
The Tallahassee MLS provides the only real source of information where the current rate of demand can be compared with its relative supply of homes for sale, and we need this to identify the scope of the housing market slowdown.
The Leon County Property Appraiser maintains a database of all recorded transactions in Tallahassee, thus it includes everything in the Tallahassee MLS plus sales that were never entered into the Realtor home marketing system.
So the Realtor MLS does not contain information on all of … (4 comments)
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real estate report tallahassee: 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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real estate report tallahassee: 3 Signs That The Housing Market Is Improving - 10/05/11 06:15 AM
Coming off yesterday's positive report on the real estate market, I have some more information to share from our daily metrics that we track on Tallahassee housing. There are three bits of good news (the Yays!) and only 1 piece of not so good news (1 Boo!). Pending home sales, closed home sales, and the home sales success rate are all rising in the Tallahassee housing market, while the "failed to sell" homes are growing in the shadow inventory.
First of all, the pending home sales graph (seen below) shows that the Tallahassee housing market has had the same number of … (2 comments)
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