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Foreclosures are on the decline - this should be good news, right?
The market has been, how should we say, weird so far this year?  Sales in Tallahassee were dramatically up over last year in January, February and March.  Things began to change in April, when significantly lower sales than April 2013 occured.  Proving not to be just an anomoly, March sales lagged March 2013 as well.  June feels like it is going to follow the same pattern.  What is going on?
At least in our market it appears a mixed bag of issues.  Overall supply is increasing, but it is spotty in areas.  Homes that are truly prepared for the sale, priced right and present themselves well in showings, are not lasting long and there are often multiple offers.  Likewise, the few foreclosure bargains create multiple offer scenarios when they appear.
The variance by neighborhood and area is also significant.  The northwest and southwest quadrant of Tallahassee continue to struggle.  Southwood sales are boosting an otherwise ho-hum southeast Tallahassee quadrant.  Northeast is doing better but still nothing to brag about in general.  To say rural Leon County is selling slowly, is being too kind.
On the positive side RealtyTrac reported that there was a 5 percent decrease in all types of foreclosures ... more

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