tallahassee real estate: What 11 Months Of Supply Really Means To A Home Seller - 05/14/12 07:40 AM
When you drive around the many neighborhoods in Tallahassee, do you ever wonder what percent of homes are selling each month?
It seems that some homes get listed and sold right away, yet others linger on the market for years.
Reminder: The Free one-page Weekly Special went out this morning to our subscribers. All you have to do is subscribe to the Tallahassee Real Estate Newsletter to receive the weekly report every Monday morning featuring a single real estate graph and explanation of what it shows about the current housing market.
As part of my routine tracking for the monthly Tallahassee … (2 comments)
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tallahassee real estate: The World Does Not Care About A Home For Sale In Tallahassee - 01/23/12 07:48 AM
Anybody who has been in the real estate business for more than a week can tell you that "real estate is local," so why are most real estate companies focused on marketing a house for sale in Tallahassee on the large aggregate sites that are anything but local?
I suspect it has something to do with the hype about traffic, the fact that these sites get millions of visitors from all over the world. I guess if you think that raw exposure is the key to promoting a home for sale in Tallahassee, then simply advertising the house on the most … (5 comments)
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tallahassee real estate: Wow, See Time Fly With The Tallahassee Real Estate Newsletter - 11/17/11 09:17 AM
Our free real estate newsletter is getting ready to complete a full three years of publication, and if subscription growth is any indication, we can expect to be around for another three years (or so :)). With over 2,000 subscribers, we have been told that it is the best real estate newsletter because it is analyzes the housing market (and contains no cheesecake recipes).
The primary goal of the Tallahassee Real Estate Newsletter is to provide housing market reports and analysis in a consistent forecast so that people who subscribe to the real estate newsletter can gain a benefit each month, … (2 comments)
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tallahassee real estate: Time Management Skills Are Key To A Great Real Estate Career - 10/27/11 09:02 AM
Most of the things that we do in residential real estate do not require a PhD in physics, but getting everything done each day is the key to being a great real estate agent and why a career in real estate is one of the most exciting jobs in Tallahassee.
Ever since I started putting the word out that our CENTURY 21 real estate office is looking to hire more people to help service our growing online business, we have been meeting with both new and experienced people. And the most important skill that I am seeking is the ability to … (1 comments)
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tallahassee real estate: Five Hidden Home Seller Resources Exposed - 10/13/11 09:15 AM
Less than half of all people who have tried to sell a home in Tallahassee have succeeded over the past four years, and we actually monitor this trend and call it the home sales success rate. In looking at the 57% of failed home sellers over the past year, one thing that immediately stands out is that they failed to use all of the resources they had available when trying to sell their home. You see, just getting on the internet and into the Tallahassee MLS are not enough, you actually have to take advantage of every opportunity to attract a … (4 comments)
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tallahassee real estate: Indian Head Acres Home Sales Returning To Normal - 09/26/11 08:56 AM
It's time for another update on home sales in Indian Head Acres, and for the most part, this is good news. Though home prices and values are still declining in Indian Head Acres (as are all homes for sale in Tallahassee), the good news is that the rate of sales appears to be returning to normal. 2011 will be the best year for home sales in Indian Head Acres since 2007.
Indian Head Acres is a very popular downtown Tallahassee neighborhood within walking distance to everything downtown, including dining, entertainment, shopping and of course, many State office buildings.
Map Of Indian … (0 comments)
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tallahassee real estate: My "Best Practices" For Real Estate Market Reports - 09/15/11 10:23 PM
Any time you do a repetitive task in business, it is wise to create a system so that it becomes an efficient, repeat-able, duplicable process. Though I know this to be true, sometimes it takes me a long time to get my systems in place.
A great example of this can be seen in my real estate market reports that I publish on the Tallahassee Real Estate Website. My primary job as the principal broker at my company is to drive traffic to the company website in order to generate business and promote our listed properties. I have found that keyword … (16 comments)
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tallahassee real estate: Mortgage Assignment Sales: Don't Believe The Hype - 09/01/11 07:49 AM
I was reading a blog post this morning from another real estate agent who was seeking input about a creative solution for homebuyers with bad credit that involves the assumption of existing loans. This technique is commonly called a mortgage assignment sale and it simply involves the seller granting the deed of the property to the buyer subject to the existing liens on the property.
The topic of mortgage assignments is very hot among real estate investors, with many claiming the mortgage assignment sale as a great way to acquire a lot of property with very little money. If the seller … (4 comments)
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tallahassee real estate: Inventory Levels Too High In Tallahassee Housing Market - 08/20/11 08:26 AM
Watch For Trend Changes If you want to know the beginning of the next phase of the housing market recovery, just keep an eye on the relative home supply. You can always track supply levels at The Market Bulletin.
The next phase you say….? Absolutely. I believe that the transition from a buyers’ market to a sellers’ market will follow this pattern:
Inventory changes from growth to reduction.
Home Values Fall At Accelerating Rate
Year over year sales increase?
Inventory levels reach 6 months of supply (balanced market). Home Values Stop Falling/Start Rising. Glut Of Homes … (2 comments)
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tallahassee real estate: New Home Sales Still Slowing In Tallahassee - 08/20/11 08:13 AM
New home construction in Tallahassee continues to see falling numbers, as single family home permits and sales have posted yet another new 20-year low.
New construction has been declining faster than existing home sales, as we can see in the home sales graph.
In the graph above, the red bars show the number of new home sales each year, while the green bars measure the number of existing home sales each year. The resulting red line measures the percentage of new home sales versus the total.
Since 1991, new home sales have on average, represented about 22% of the home … (0 comments)
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tallahassee real estate: What Caused The 50% Decline In Condo And Townhouse Prices? - 08/20/11 08:00 AM
Tallahassee condominium and townhouse prices have finally joined single family detached homes with a dramatic drop in their average prices, according to the newest information recorded at the Leon County Property Appraisers office.
The sales of condominiums in downtown Tallahassee, which are relatively new to the Tallahassee market, were bolstering the average sales price of condos and townhouses for the past several years.
Even though we were measuring depreciation at very similar numbers as single family detached homes, the actual average price was remaining stable as expensive condos downtown were keeping the average up.
But downtown sales have stopped and … (4 comments)
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tallahassee real estate: Relative Home Supply Unchanged Since August Of Last Year - 08/20/11 07:47 AM
The relative supply of homes is exactly the same today as it was at this time last year, even though the real supply of homes continues to decline. The falling supply of homes has unfortunately been matched by falling demand, creating a situation where the months of supply continues to be above 12 months.
The problem in the market has many fronts, but the largest problem is not what many have been writing about in the large US newspapers.
Most are blaming a tightened money supply and tougher lending standards, but that is only adding fuel to the fire of … (2 comments)
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tallahassee real estate: Another Market Bottom Reached In Tallahassee Real Estate - 08/16/11 06:14 AM
It is no fun to have to report that Tallahassee has reached a new housing market bottom (again). The new housing market bottom was reached in July, and our measured evidence suggests that we have further declines to look forward to in the coming months.
Slow Home Sales Lead To New Housing Market Bottom Our first realestate graph shows the number of home sales recorded in Leon County each month, and the current one-year trend has reached a new low as of the end of July. This new housingmarket bottom shows signs that we have not actually hit the bottom … (2 comments)
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tallahassee real estate: Tallahassee Home Inventory: Same As Last Year But With A Shift - 08/05/11 08:36 AM
As I was updating this month’s home inventory report showing the relative supply of homes for sale in Tallahassee, I was somewhat amazed to see that the currently housing supply was exactly the same as it was for August of 2010.
As the report shows, we currently have 12.5 months of supply of homes for sale in Tallahassee (relative supply), even though the real supply continues to decline.
Upon seeing the results of this report, I began to wonder if there were any major shifts in where this supply of homes for sale in Tallahassee was located, or if … (2 comments)
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tallahassee real estate: Home Sales In Swift Creek Woods Are Hanging Tough - 07/21/11 08:12 AM
Swift Creek Woods is a newer and popular neighborhood on the Northeast side of the Tallahassee real estate market. Currently, there are no homes for sale in Swift Creek Woods (this link always shows active listings in the Tallahassee MLS), but as with all newer neighborhoods, this will be changing as the normal life-cycle changes cause people to move. And since the majority of people there bought their homes five to seven years ago, we can expect that we’ll be seeing some for sale signs soon.
Our Tallahassee Neighborhood Reports are designed to provide home sellers and homebuyers a snapshot view … (0 comments)
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tallahassee real estate: Hottest Zip Code - Inman Top 10 Real Estate Investment Markets - 07/18/11 07:01 AM
The 32303 zip code is in the Northwest quadrant of the Tallahassee real estate market, and it features many of the most popular neighborhoods in Tallahassee. This is the hottest real estate investor zip code in the Inman Top 10 real estate investment markets and this post will provide a quick examination of homes sales in the 32303 zip code and identify some current trends. You will also find a list of recent home sales at the end of this article.
Average Home Prices In The 32303 Zip Code Home prices in the 32303 zip code have been on a steady … (4 comments)
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tallahassee real estate: How To Handle Occupancy Prior To Closing - 07/01/11 07:21 AM
Today I want to mention an issue that has been around forever, and warn you about a sloppy solution that is most-often recommended by real estate agents involved in the transaction. The issue in question is how to best handle occupancy prior to closing in a real estate transaction. When a buyer needs the ability to take occupancy prior to the actual date of closing on the property, a document is needed to make sure that both parties are protected from the various things that can go wrong in a real estate transaction.
The most common solution that I have seen … (2 comments)
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tallahassee real estate: Has The Method For Determining A Home's Value Changed? - 06/30/11 07:16 AM
I just love when we get questions from readers at the Tallahassee Real Estate Blog, as it usually produces the kind of information that people who are in the market to buy a home or sell a home are seeking.
After a recent post about NAR’s “temporary” position on the state of the housing market, I received several questions about my views and market measurements. The question with the best grammar came from long-time reader Patrick, who was curious about the real market value of a home. He wrote:
All this talk about another five years of stagnant or declining prices … (4 comments)
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tallahassee real estate: Indian Head Acres: The Coolest Street Names In Tallahassee - 06/20/11 06:55 AM
If you want to discover a charming in-town place to live, then you might want to consider Indian Head Acres. This popular Tallahassee neighborhood is fighting through a difficult housing market in a far more successful manner than many others.
Before we get into the actual home sales report, you should know that Indian Head Acres has possibly the coolest street names of any neighborhood in Tallahassee. Do you know what a Nene is?
The streets were named using authentic Seminole Indian names, and “nene” is the word for trail.
Indian Head Acres Street Names And Meanings * Humpin Nene – … (0 comments)
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tallahassee real estate: What Do You Do When Your Home Drops $135K In Value? - 05/30/11 07:40 AM
Summerbrooke home sales appear to be slowing, and home values are dropping far faster than we have seen in the past. The Summerbrooke neighborhood is one that we have reported about often in the past, but today’s graphs are new.
Reminder: The Tallahassee Real Estate Newsletter goes out again today. With nearly 1,800 subscribers (and growing), it is the best FREE resource on real estate market information and can help you make better decisions whether you are buying, selling, or brokering!
Below, we see that the average home price in Summerbrooke has dropped from a high of $466K in 2006 down … (6 comments)
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