tallahassee home: How To Value A House In A Foreclosure Heavy Market - 08/27/12 11:17 PM
If you are thinking about selling a home, you should have a solid understanding of how to value a house.
And before you go off thinking that you already know how to value a house, I would strongly recommend that you keep reading to ensure that you understand what the foreclosure crisis has done to change everything for home sellers.
How To Value A House In A Normal Real Estate Market Historically, when I would teach a new real estate agent how to value a house, I would focus primarily on developing a comparable property analysis that looked at the scope … (2 comments)

tallahassee home: Is Your High School Helping Home Sales? - 07/10/12 07:59 PM
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)

tallahassee home: Younger Neighborhoods Fighting Hard To Retain Fleeing Homeowners - 02/15/12 02:19 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)

tallahassee home: What Came First? The Chicken Or The Egg (In Real Estate) - 05/31/11 01:54 AM
The Tallahassee housing market is undergoing the greatest change that I have seen in my twenty plus years as a real estate agent in Tallahassee. Values are declining and buyer activity is declining, leaving the real estate market in a state of uncertainty. As with much of the rest of the US housing markets, Tallahassee has a “chicken or the egg” problem.
Those of us who have a great interest in the state of the housing market are faced with something similar to the age-old question of what came first, the chicken or the egg. In real estate, the question is … (2 comments)

tallahassee home: Coming Home To Tallahassee - 01/18/10 11:40 PM
When the St. Joe Company decided to start its Southwood Development in Tallahassee, the company issued statements (press releases) that included various numbers of reasons why it felt Tallahassee would enjoy growth and prosperity in the future. Most importantly, it outlined the  target market for  people who would buy a home in Southwood.
One particular segment of this announced target market really caught my attention. The segment was “FSU Graduates wanting to retire and return to Tallahassee.” And not just retirees, but people who had spent their college years in Tallahassee and would love to live here permanently. My thinking at … (0 comments)

tallahassee home: Raising Taxes Hurts Tallahassee Real Estate - 09/23/09 11:39 PM
 
You will never find me writing or speaking as an expert in politics. As a matter of fact, I will go on record saying that I have a hard time paying attention to politics at any level, even though it has tremendous implications on the health and wealth of my family, my business, and my investments.
But I do know about real estate. I have never found anybody that studies the Tallahassee housing market any harder than I do. I am not the smartest guy in the world, but I have done my homework when it comes to the real … (6 comments)

tallahassee home: Record Home Sales Decline String Continues - 08/13/09 01:32 AM
 
The data is in for the July housing reports in the Tallahassee real estate market. Even though I am still in New York City, I am able to download the data and I brought my spreadsheets with me. Of course, the first thing that I did after I recorded the data for the month of July was look to the Year over Year Housing Report to see how we did.
Year Over Year Home Sales Decline For Record 37th Consecutive Month Every month I look to this real estate graph with the hope that we will see the next step … (4 comments)

tallahassee home: Tallahassee Home Supplies Dropping - 08/04/09 11:55 PM
Every month we take a look at housing inventory in Tallahassee in order to see whether or not the supply is growing or if the supply is shrinking. We have come to learn that there are two ways to look at home supplies in Tallahassee:
Absolute Home Supply – This is the total number of homes for sale in Tallahassee Relative Home Supply – This is the number of months of supply of homes for sale in Tallahassee, as measured using the current rate of sales (demand). I have just completed the August Home Supply Report which can be downloaded by … (1 comments)

tallahassee home: Cautious Home Buyers Find Opportunity In Tallahassee - 06/20/09 12:13 AM
As we go into the Fathers Day Weekend, I thought I would do a quick check on home sales in Tallahassee to see if anything new was shaking. If you have been following the Tallahassee Real Estate Blog for any time, you know that we have been tracking the changes in Tallahassee home inventories here on nearly a daily basis.
We know we must see a change in home buyer activity in Tallahassee before the market change can occur. With some great programs that have been launched to provide free money for first time homebuyers, we were hoping that we would … (0 comments)

tallahassee home: Doesn't That Come With The House? - 06/17/09 03:16 AM
It seems that the best real estate blog articles are born from the comments and questions of the readers and subscribers. It makes sure that the content is not only fresh, but it is also based upon the current interests of people active in the Tallahassee real estate market.
Recently, a reader had a question about an offer she is making which concerned the difference between an offer and a real estate contract. She asked:
When we looked at the house we put an offer on, the seller’s disclosure indicated that, among other things, the washer and dryer conveyed with the … (4 comments)

tallahassee home: Tallahassee, FL: Home Inventories Still Dropping - 05/27/09 10:36 PM
We have seen some tough reports lately on the falling prices in the Tallahassee real estate market, so I thought today I would point out some of the good news that we are seeing. The good news relates to the falling inventory of homes for sale in Tallahassee.
As we have discussed often in the past, supply and demand will rule every and any market over the long haul. Currently, there is a glut of homes for sale in Tallahassee, but the gross number of homes for sale has been falling for nearly a year. You can monitor the movement in … (0 comments)

tallahassee home: Good News In Tallahassee Real Estate - 05/05/09 02:04 AM
Yesterday was a busy day, as we posted the 6th edition of the Tallahassee Real Estate Newsletter. You can subscribe to the newsletter (in the sidebar to the right) in order to have it delivered right to your email inbox when it is published.
I noticed after publishing the newsletter yesterday that a few people quit their subscription. One in particular commented that I was writing “too much doom and gloom” and he no longer wished to receive the newsletter. So with this in mind, I’m changing the news …. just kidding. But I will work harder to point out the … (0 comments)

tallahassee home: Home Inventories Finally Dropping In Tallahassee - 04/22/09 02:05 AM
One picture of the Tallahassee real estate market is solidly good, and that is the short, medium, and long term home inventory change trends are all dropping! The graph below demonstrates that all of the following are showing a reduction in inventory:
30 Day Home Inventory Change: Averaging a drop of 2.6 homes per day for the past 30 days 90 Day Home Inventory Change: Averaging a drop of 0.2 homes per day for the past 90 days 180 Day Home Inventory Change: Averaging a drop of 2.1 homes per day for the past 180 days 270 Day Home Inventory Change: … (2 comments)

tallahassee home: April Housing Report For Tallahassee (With A Twist) - 04/06/09 11:25 PM
 
Once a month we generate the Tallahassee Housing Report and post it for download. This report is very informational as it shows the relative months of supply of homes, by area and price range, in the Tallahassee real estate market.
This month we see a continued trend of decreased real inventory (the actual number of single family homes, condos and townhouses currently for sale), but a continued increase in the relative inventory (months supply of homes for sale based upon the current rate of sales) of homes for sale in Tallahassee. [click to see full housing report…]
(2 comments)

tallahassee home: 2009 Home Sales At Record Lows In Tallahassee - 04/06/09 10:56 PM
For those of you who try to make a living in the real estate industry, you know last year was the worst year on record in the Tallahassee housing market. This next graph shows you we should have known how good we had it last year….

As you can see, our data includes January and February housing information from 1991 through 2009. The red bar is the number of new home sales while the blue is the existing home sales.  Prior to 2008, the record low was just over 500 homes sold in these two months, but this year we … (0 comments)

tallahassee home: Prelude To A Tallahassee Real Estate Recovery - 03/24/09 10:59 PM
 
I was having a discussion about the state of the Tallahassee real estate market with a longtime friend yesterday. He had seen the Existing Home Sales report for both the U.S. as well as for the State of Florida.
The first thing that caught his eye was the national report, which showed that the sale of existing homes sold at a seasonally adjusted rate of 5.1%, far higher than most analysts expected.
Then, he viewed the Florida Association of REALTORS® Single Family, Existing Home Report and saw that we experienced a year-over-year growth of 20% in the number of homes … (0 comments)

tallahassee home: Home Inventory Report By Area Shows What's Hot And What's Not - 03/16/09 11:54 PM
 
Every month we pull all the data from the Tallahassee Board of REALTORS® Multiple Listing Service (MLS) in order to determine the months of supply of homes, by price range. This report is a great snapshot that is valuable to people who want to buy a home in Tallahassee as well as to people who want to sell a home in Tallahassee. Think of this as the “competition report” for each price range.
Each area of Leon County (Tallahassee Real Estate Market) is broken down by homes for sale and homes that have been sold. The report shows new home … (0 comments)

tallahassee home: Real Estate Inventory Trends Need To Be Monitored - 03/11/09 12:10 AM
 

Even though I’m on the road in San Antonio, I still keep an eye on the inventory trends in the Tallahassee real estate market. One trend lately has been disturbing and that is the 30-day trend. The graph below shows that inventories (the number of homes for sale in Tallahassee) has been growing for 35 days.
Will this trend continue? Click Here for Larger Graph
(0 comments)

tallahassee home: 18 Windows Into The Tallahassee Real Estate Market - 02/16/09 09:32 PM
The month of January saw a continuation of the slower sales for homes in the Tallahassee real estate market. Unit sales were very low even for January, with sales plummeting 46% compared to last January and Tallahassee registering our 31st straight year-over-year drop (January 2009 vs. January 2008).
January is usually a very slow month for home sales in Tallahassee, as the holiday season in November and December keeps many away from buying (contracting to purchase) homes. Unfortunately, we might have seen a record this year. Nor were new contracts as robust as we were hoping, leading me to expect that … (4 comments)

tallahassee home: Tallahassee, FL: Housing Report Shows Continued Decline In January 2009 - 02/15/09 11:49 PM
As I await the data from my trusted source to produce the monthly reports for real estate in Tallahassee, I felt compelled to go to the Tallahassee Board of REALTORs Multiple Listing Service (MLS) and pull some preliminary data. While the MLS is the source of information for most of the “experts” who report in the national media on home sales, I prefer to utilize all of the home sales recorded at the county.
The January year-over-year report will be posted in less than 1 week. It will tell us if our prediction of falling unit sales and dramatic price drops … (0 comments)

 
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Joe Manausa

Tallahassee Real Estate

Tallahassee, FL

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