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Tallahassee, FL Real Estate News

By Carol Palacios
(Century 21 Manausa & Associates)
Joe Manausa | Century 21 First Realty | (850) 386-2001 916 Hawthorne Street, Tallahassee, FL 2BR/1BA Single Family House offered at $129,900 Year Built 1946 Sq Footage 956 Bedrooms 2 Bathrooms 1 full, 0 partial Floors 1 Parking 1 Car garage Lot Size .19 acres HOA/Maint $0 per month DESCRIPTION Fannie Mae owned property selling AS IS- no disclosures available. Home in great condition close to hospital! High rated schools and fantastic in town location.Original refinished hardwood floors, recently remodeled kitchen, stainless fridge and dishwasher. Large fenced in yard! Move in ready! This property is approved for HomePath Renovation Mortgage. see additional photos below PROPERTY FEATURES - Central A/C - Central heat - Hardwood floor - Living room - Dining room - Dishwasher - Refrigerato...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
This month’s Golden Eagle Home Sales update will be written “on the road” as I am traveling. It is that time of year again where I visit my Alma Mater (West Point, NY) and see a couple hundred of my fellow ex Army Football teammates (or perhaps XXL Army Football teammates) so the next few days of the Tallahassee Real Estate Blog will be written in New York. Just as a quick update from yesterday’s blog post, I want to thank all of the respondents from yesterday’s important poll. If you missed the blog about how Tallahassee Eagle Scouts Need Your Help, you can follow the link there. The poll at the end of the post asked for readers to evaluate four pictures, and I can tell you the results were not surprising. It turns out that most readers felt that I was better looking than my brothers,...
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By Carol Palacios
(Century 21 Manausa & Associates)
Joe Manausa | Century 21 First Realty | (850) 386-2001 2138 Amanda Mae Court, Tallahassee, FL 5BR/3+2BA Single Family House offered at $897,000 Year Built 1997 Sq Footage 3,718 Bedrooms 5 Bathrooms 3 full, 2 partial Floors 2 Parking 2 Car garage Lot Size .70 acres HOA/Maint $0 per month DESCRIPTION This house has it all: located on Lake Diane with golf course panoramic views. Putting green and resort like pool with separate built-in spa and extensive upgrades and improvements since purchased in 2003. Large patio areas for entertaining. Full outdoor kitchen with multiple appliances including refrigerated beer keg with tap system. Expansive family room has multiple lake and golf course views, including a custom folding glass wall made in Germany. Indoor kitchen has new appliances and gra...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
I received an email from my Mother yesterday that brought a smile to my face, it was filled with pictures of my brothers and myself, each taken on the day that we became Tallahassee Eagle Scouts. Of course, the email went out to “all the boys,” and it did not take long before the whole family was trading barbs back and forth. Then came the simple email from my sister-in-law Nikky (married to Bo). She had to make it a competitive issue (something you really don’t want to do in a family of all boys). She simply wrote: I married the best looking scout. Now anybody who has seen my youngest brother Bo would immediately chuckle at this comment, because we all know my older brother Mike has the Hollywood looks in the family. Bo had to become a Doctor because it was the only way anybody would t...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
Real estate investors have struggled over the past five years, as rising inventories have driven down home values and home rental rates. The chaos created by the booming housing market that ran from 2004 through 2006 still reverberates through our Tallahassee real estate community, and many struggling real estate investors are looking for ways to hang on. Recently, long-time reader “Dave” wrote to me for advice about his investment properties, as Dave is much like everybody else in the Tallahassee real estate investment market: I have 4 upside down investment properties, I am struggling to keep things afloat. 3 properties have adjustable rate mortgages which begin next year. I can’t refinance due to loan to value. Any suggestions.   I don’t want to do short sales as I have excellent cre...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
Somebody recently told me that Southwest Tallahassee real estate looks like a train wreck.  If you took a look at this month’s Tallahassee Housing Inventory Report, you will see just what he means. The SW quadrant of our market looks like a “used house lot,” with existing home inventory levels exceeding two years worth of supply. Long-time reader and investor in the Tallahassee real estate market “TLH Landlord” wrote: Joe, SW Tally looks pretty much like a train wreck in terms of housing inventory. Two questions about that: 1) what is wrong on that side of town, 2) what do the total numbers (column labeled “ALL”) look like if you through out SW Tally? I’m thinking that the housing recovery will proceed at different speeds on different sides of town. TLH Landlord What Is Wrong With Sout...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
  As the pace of home sales drops and the inventory rises, we are starting to get a lot of requests for short sale advice in our office. As we have warned and projected, more and more homeowners are finding themselves upside-down in a market where values continue to slide. One lesson that we have learned over and over from all of property owners that are trying to do a short sale in Tallahassee is that first-come, first-served rings very true in this ever-changing industry. I cannot tell you how many clients who sold in the past two years have called to share their happiness as the market continues to move down from where they succeeded in selling. Short Sale Advice In Tallahassee We advise our home sellers in Tallahassee that they should decide whether they are going to stay or go. If ...
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By Carol Palacios
(Century 21 Manausa & Associates)
Joe Manausa | Century 21 First Realty | (850) 386-2001 1602 Glenway Drive, Tallahassee, FL 3BR/1+1BA Single Family House offered at $145,000 Year Built 1959 Sq Footage 1,703 Bedrooms 3 Bathrooms 1 full, 1 partial Floors 1 Parking 1 Uncovered spaces Lot Size 0.20 acres HOA/Maint $0 per month DESCRIPTION Good location in a good neighborhood. Corner lot. Backyard includes swing set and hot tub (not warranted) and is fully fenced. Home warranty included. New roof in 2004. The large sun room is not included in the s/f. see additional photos below PROPERTY FEATURES - Central A/C - Central heat - Hardwood floor - Family room - Living room - Dining room - Dishwasher - Refrigerator - Stove/Oven - Balcony, Deck, or Patio - Yard ADDITIONAL PHOTOS Photo 1Photo 2Photo 3Photo 4Photo 5Photo 6 Contact...
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By Carol Palacios
(Century 21 Manausa & Associates)
Joe Manausa | Century 21 First Realty | (850) 386-2001 2809 Botany Place, Tallahassee, FL 2BR/1+1BA Townhouse offered at $45,000 Year Built 1984 Sq Footage 960 Bedrooms 2 Bathrooms 1 full, 1 partial Floors 2 Parking None Lot Size Unspecified HOA/Maint $0 per month DESCRIPTION SHORT SALE! All offers contingent on lien holder approval.2 story home in good condition. Needs new carpet and paint- affordable and great for first time home buyers. Conveniently located. see additional photos below PROPERTY FEATURES - Central A/C - Central heat - Living room - Dishwasher - Refrigerator - Stove/Oven ADDITIONAL PHOTOS Photo 1Photo 2Photo 3Photo 4Photo 5Photo 6 Contact info: Joe Manausa Century 21 First Realty (850) 386-2001 For sale by agent/broker Equal Opportunity Housing Posted: Jul 7, 2010, 7:...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
  Here is some positive and exciting news for the Tallahassee real estate market! I am meeting with the founder of a European real estate investment trust next week in the hopes of bringing a large fund to Tallahassee. As any long-term real estate investor will tell you, there are times when it is smart to sell real estate (i.e. 2006), and there are times in which a savvy investor will buy real estate. That time is upon us. Currently, anybody can look at the Tallahassee MLS and find many properties that are selling at prices below which they could be replaced (cost). When real estate market values drop below cost, it signals a time when strong, long-term investors enter back into the market. They don’t just buy something because it is selling below cost, rather this is just a rule of th...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
Pending home sales fell with the expiration of the Homebuyer Tax Credit, just as we predicted, so I felt it would be interesting to see how the Tallahassee real estate market fared versus the rest of the national real estate market. Today, RISMedia, a leader in real estate information systems, reported that pending home sales fell 30% nationally from April to May, and were down nearly 16% from the same time 1 year ago. Regarding the drop, the chief lobbyist (er, I mean Economist) for the National Association of REALTORS® Lawrence Yun said: “Consumers are rational and they rushed to meet the tax credit eligibility deadline in April. The sharp decline in contract signings in May is a natural result with similar low levels of sales activity anticipated in June,” he said. “Surprisingly, th...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
Every month we look at supply and demand in the Tallahassee real estate market in order to determine the real changes that home sellers and home buyers are facing. It is not enough to know the inventory, we have to know the relative supply of homes for sale in Tallahassee. Relative supply is the number of homes for sale in Tallahassee expressed in terms of “months of supply” based upon the current rate of sales. Generally speaking, we want to see five to six months of supply of inventory in each price range, but current figures are still double that amount. The chart above breaks down relative home supply by area and by price range for the Tallahassee real estate market. Currently, there are 12.3 months of supply of homes in Leon County, and as much as 82.5 months of supply in the slow...
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By Carol Palacios
(Century 21 Manausa & Associates)
Joe Manausa | Century 21 First Realty | (850) 386-2001 1319 Airport Drive Unit F-2, Tallahassee, FL 2BR/2+1BA Single Family House offered at $85,000 Year Built 1984 Sq Footage 1,110 Bedrooms 2 Bathrooms 2 full, 1 partial Floors 2 Parking 2 Car garage Lot Size Unspecified HOA/Maint $0 per month DESCRIPTION Well maintained owner-occupied townhome, convenient to FSU, TCC, and FAMU. Perfect for students! Two bedrooms, each with full bath plus 1/2 bath for guests. Study nook off of living area. Great recreation space behind two car garage, perfect for workout area or extra storage. All appliances included - even washer and dryer. see additional photos below PROPERTY FEATURES - Central A/C - Central heat - Living room - Dining room - Dishwasher - Refrigerator - Stove/Oven - Washer - Dryer - ...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
REBLOGGED FROM BUDDY GRIDLEY If you were one of us that grew up in Tallahassee during the 50’s and 60’s, you will remember what a big part of the community Lake Jackson was.  Granted, Tallahassee was a lot smaller then.  We didn’t have nearly as much to do as we do now, or maybe it was just that teenage boys naturally migrate to water sports. All I know is that living on Lake Jackson in Tallahassee was a dream come true for me.  My dad built a house on the lake when I was 12, and from the day we moved into it until the day I graduated from FSU, I spent the majority of my recreation time on that lake. We were fishing, hunting, water skiing or sailing almost every day.  When we first moved out there, my primary interest was in the frogs.  I had never seen the likes of the monster bullfro...
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By John Stehmeyer
(Pro Players Realty)
At Pro Players Realty we provide everyone with a free Tallahassee Foreclosure Search.
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By Carol Palacios
(Century 21 Manausa & Associates)
Joe Manausa | Century 21 First Realty | (850) 386-2001 4254 Ridge Haven Road, Tallahassee, FL 3BR/2BA Single Family House offered at $95,000 Year Built 2006 Sq Footage 1,200 Bedrooms 3 Bathrooms 2 full, 0 partial Floors 1 Parking 1 Car garage Lot Size .10 acres HOA/Maint $0 per month DESCRIPTION NOT A SHORT SALE! Features include Well maintained quite neighborhood, Grand size living room with high vaulted ceiling, Eat-in kitchen with lots of cabinet space, Master bedroom has a huge walk-in closet and master bathroom has his & his sinks. The list of features goes on please come see this house in person. see additional photos below PROPERTY FEATURES - Central A/C - Central heat - Living room - Dishwasher - Refrigerator - Stove/Oven - Microwave ADDITIONAL PHOTOS Photo 1Photo 1Photo 2Photo...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
I hear and read quite a bit about market time in real estate and I always feel for the consumer who really wants to know how long it takes to sell a home. You would think that I could pull some great numbers from the Tallahassee MLS and tell you, but the reality is that a much simpler way to determine this already exists. The key to understanding market time is to understand the process that the homebuyer utilizes to buy a home. This is so important that I will say it again and offset the message in quotes: “The key to understanding market time is to understand the process that the homebuyer utilizes to buy a home.” The Three Stages Of The Homebuyer We know that more than 94% of homebuyers are using the internet during the process of buying a home, so it gives us a great opportunity to...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
My real estate Twitter account just surpassed 100,000 followers last week and I am just blown away with how the world of microblogging works. For readers not familiar with how real estate and twitter combine, you can follow this link to Twitter and Real Estate that I wrote just one year ago (when I only had 2,100 followers!). Just as a refresher, this microblogging social network was created so that users could broadcast to anybody who would listen “what I am doing right now” in 140 characters or less. But what has happened is that it has morphed into a network of people who pass information and links regarding breaking news and information, Twitter is the 10th most visited site on the internet by US citizens, so it’s popularity is unquestionable, although understanding why this is tru...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
Florida real estate law will see modifications effective July 1, 2010, as many of the 274 new laws passed during the 2010 legislative session take effect at the start of the new fiscal year. Of these many new laws, two (2) will have an impact on how the Tallahassee real estate market is regulated. Short Sales Get Partial Doc Stamp Relief The new Florida real estate law dealing with short sales lowers the amount of state taxes residents pay when they sell their homes through a short sale (the sale price is less than the outstanding debt). The state will not collect taxes on the canceled debt, or the difference between the sale price and what is owed on the house. Currently, short sales have become very common due to the sharp decline in real estate values. Based on our best analysis, ove...
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