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Tallahassee, FL Real Estate News

By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
Home Sales Failures is an important trend that we monitor at the Tallahassee Real Estate Blog, and is the percentage of homes for sale that "fail to sell." This would include all home listings that expired, canceled, or withdrew from the market without a successful home sale. The movement of this trend gives us an idea of whether it is getting easier or harder to sell a home in Tallahassee. As we can see in the real estate graph above, the home sales failure rate continues to decline. Unfortunately, the current reading is still at 76%, meaning we can conclude that roughly 76% of the homes that came on the market over the past 365 days failed to sell. Great Tallahassee Real Estate Resources Do you want to know more about the Tallahassee real estate market? It is not as hard as you might ...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
Pending home sales are on the rise in the Tallahassee real estate market. The 365 day trend of pending home sales is monitored daily by the best real estate agents in the Tallahassee housing market as a barometer of current and future market movements. In the real estate graph below, we can see both the fall of pending home sales (reaching a market bottom in mid July of 2009) as well as the rise from the bottom of the housing market. A pending home sale is a property in which a buyer and seller have agreed to terms, and is currently in the due diligence stage of the transactions. Many of these that are recorded never turn into a real home sale, but a good percentage of them do. That is why the measurement of pending home sales gives us a forward looking perspective on what should occur ...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
Home sellers are finding more success today than they have for the past two years. By tracking the total number of home sales in Tallahassee, and dividing them by the total number of listings during the same period of time, we are able to track a measurement that we refer to as the "Home Sales Success Rate." Currently, the 365 day trend of the home sales success rate has hit 47%, up from a low of 35% found roughly one year ago. In the real estate graph below, the blue field shows the one year trend measurement, while the red, green and purple lines show the shorter-term trends. The short term trends in the home sales success rate are all falling, both an indication of seasonal moves in the housing market as well as a warning for the long-term trend to start to drop. One interpretation o...
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By John Stehmeyer
(Riverking Custom Painting)
The U.S. Environmental Protection  Agency is enforcing the law that requires contracts that disturb lead-based paint in homes built before 1978 follow specific work practices to prevent lead contamination.  That dust can cause ill health effects, especially in children.  Symptoms of lead poisoning include learning disabilities, behavioral problems, hearing loss, even organ failure.  Many contractors spending the time and money to become certified to follow lead safe practices also worry the added costs will force customers to turn to shady contractors willing to break the law. Tallahassee's RiverKing Custom Painting is currently in the process of updating our EPA certification to handle lead paint.
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By John Stehmeyer
(Pro Players Realty)
TALLAHASSEE – Foreclosure is a harsh reality for thousands of Floridians these days, but a new bill could slash mortgage payment amounts. Orlando Democrat Rep. Darren Soto’s “Foreclosure Bill of Rights” would pressure banks to charge monthly payment amounts based on what homes are worth now and not what they were worth when they were purchased. “The banks would get their money and the homeowners — in the short run — would get a lower payment,” Soto said. “But obviously they’d have to start paying more or start satisfying that lien if they wanted to get out sooner rather than later.” In return for the lower payments, banks would put a lien on the property, which means eventually the homeowner would still have to pay the full value of the mortgage. The lower payment could help many homeo...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
Tallahassee Neighborhoods are enjoying the beginning of the market turn, with homes selling at a faster rate today than they were a year ago. The most active neighborhood in Tallahassee is Killearn Lakes, followed by Southwood, Killearn Estates and Killearn Acres. The following real estate graph shows the top 3 Tallahassee neighborhoods represent a very large portion of the homes sold in Tallahassee. The blue vertical bars show the number of home sales in each neighborhood, while the red bars show the average price of homes that sold. The following table lists all named subdivisions in Tallahassee that had an arms-length home sale recorded in Tallahassee for the period of March 1, 2009 through February 28, 2010. Tallahassee Neighborhoods Home Sales Report Neighborhood Units Avg. Price A...
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By Carol Palacios
(Century 21 Manausa & Associates)
Joe Manausa | Century 21 First Realty | 850.523.6118 311 Dreadnaught Court, Tallahassee, FL 4BR/2+1BA Single Family House offered at $235,000 Year Built 2001 Sq Footage 1,862 Bedrooms 4 Bathrooms 2 full, 1 partial Floors 2 Parking 2 Car garage Lot Size Unspecified HOA/Maint $0 per month DESCRIPTION In town living at its best! This house is situated in a Nice & Quite neighborhood that is located just a couple of miles from local recreational parks, shopping centers, up scale restaurants and more. Features include large bedrooms, master bedroom has high vaulted ceiling and walk-in closet. Jumbo sized patio has a Pergola with built in speakers & ceiling fan over looking a gorgeous well manicured fenced back yard. Balcony above front porch is the perfect place to gaze at the stars or have ...
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By Carol Palacios
(Century 21 Manausa & Associates)
Joe Manausa | Century 21 First Realty | 850.523.6118 2022 Dyrehaven, Tallahassee, FL 4BR/2BA Single Family House offered at $299,000 Year Built 1997 Sq Footage 2,215 Bedrooms 4 Bathrooms 2 full, 0 partial Floors 1 Parking 2 Car garage Lot Size 1.00 acres HOA/Maint $0 per month DESCRIPTION NOT A SHORT SALE. Seller has priced for quick sale. Please call ahead, as alarm is on. This has all of the "bones"..........just needs a little TLC. There is NO CARPET......all hardwood fllooring and tile. All this plus, one quiet acre. see additional photos below PROPERTY FEATURES - Central A/C - Central heat - Fireplace - High/Vaulted ceiling - Hardwood floor - Tile floor - Family room - Living room - Dining room - Dishwasher - Refrigerator - Stove/Oven - Microwave - Balcony, Deck, or Patio - Yard A...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
Summerbrooke home sales are “fighting the fight” that we are seeing in most Tallahassee neighborhoods. Home prices are still dropping in Summerbrooke, but monthly sales are on the rise, which is a major step in moving the market towards a balance between supply and demand. With just under 10 months of supply of homes for sale in Summerbrooke, we will see continued pricing pressure as heavy competition still favors the buyers in the market. The real estate graph below shows the average sales price of homes in Summerbrooke, as well as how many homes sold each year. Home Prices In Summerbrooke In the real estate graph above, the red field shows that the average home price has dropped from nearly $475,000 in 2006 down to nearly $350,000 just last year. Unit sales dropped below thirty for th...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
I was contacted by a reader yesterday wanting to know if a property that we have listed for sale was also available for lease. She proceeded to inform me that she had called on the “Craigslist ad” that “we” ran and immediately thought about “real estate scams“, so she was contacting me directly. After checking on the property she was calling about, it turns out it was only for sale. The ad that she found on Craigslist really was a scam. In order to warn my readers, I thought this would make for an interesting post on the Tallahassee Real Estate Blog. Real Estate Scam To Get Your Deposit Money It turns out somebody copied an entire home listing of ours and then placed it on Craigslist as a “For Rent” property. Our name was used in the ad, but the phone number or contact link was changed...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
  Recently, a reader found the Tallahassee Real Estate Blog when he was seeking the answer to the question “How to buy a house based on Tax Value.” While this question could have been seeking a different direction, I believe this reader was trying to determine how to figure out the value of a home based upon its tax assessment. The short answer to this is that you should not use the tax assessor’s value when trying to determine the current market value of a home. There are so many things going on in the assessor’s tax value that you would do better throwing darts at a spreadsheet. In order to demonstrate this, we can look at home sales in a Tallahassee neighborhood and search for a correlation between sales price and tax assessment value. Golden Eagle Home Sales Versus Tax Values In ord...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
  The Housing Tax Credit is set to expire on April 30th, 2010. Perhaps the most often asked question at the Tallahassee Real Estate Blog is “do you think the tax credit is going to be extended again.” Since this question is based upon politics, it’s not really something we can determine with “charts, graphs and analysis!” Fortunately, there are other ways to forecast political moves that affect the housing market. For those of you who read the blog that I posted two days ago about attending the Cartus Real Estate Network Annual Conference in Palm Desert, California, you know that I am in the company of some of the most influential real estate leaders in the world. So, rather than ask me this question, it is much better suited for Richard Smith, CEO of Cartus. Mr. Smith was a very import...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
  The Housing Tax Credit is set to expire on April 30th, 2010. Perhaps the most often asked question at the Tallahassee Real Estate Blog is “do you think the tax credit is going to be extended again.” Since this question is based upon politics, it’s not really something we can determine with “charts, graphs and analysis!” Fortunately, there are other ways to forecast political moves that affect the housing market. For those of you who read the blog that I posted two days ago about attending the Cartus Real Estate Network Annual Conference in Palm Desert, California, you know that I am in the company of some of the most influential real estate leaders in the world. So, rather than ask me this question, it is much better suited for Richard Smith, CEO of Cartus. Mr. Smith was a very import...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
I was talking with a friend of mine yesterday about how I believe we are coming into the most significant financial period of change that will occur during my lifetime. The opportunities that are here now and will continue as we work to rid the market of the glut of homes will be seen one day as one of the most opportunistic periods in a 100 year window. While there will be great opportunities to make returns beyond your wildest dreams, they will come with risks that will be much higher than most are willing to take. So what does a low-risk investor do if he wants to take advantage of opportunities in real estate and not expose himself to a high degree of risk? I believe the answer is relatively simple. While my answer will focus on how to do this in the Tallahassee real estate market, ...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
I was talking with a friend of mine yesterday about how I believe we are coming into the most significant financial period of change that will occur during my lifetime. The opportunities that are here now and will continue as we work to rid the market of the glut of homes will be seen one day as one of the most opportunistic periods in a 100 year window. While there will be great opportunities to make returns beyond your wildest dreams, they will come with risks that will be much higher than most are willing to take. So what does a low-risk investor do if he wants to take advantage of opportunities in real estate and not expose himself to a high degree of risk? I believe the answer is relatively simple. While my answer will focus on how to do this in the Tallahassee real estate market, ...
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Smart Phone guru Dick Betts, annouced at training Wednesday, March 4, 2010 that he has accepted an offer from the Tallahassee Board of Realtors (TBR)Executive Director Steven Louchheim to author an article each month on technology tips for the TBR magazine. Betts is a well known national speaker on real estate issues with particular expertise in Search Engine Optimization, Smart and Super Phones, Website administration and social media. Betts has spoken at the TBR for several years, has been a featured speaker for the Florida Association of Realtors, the National Association of Realtor and international Realtor groups. The Tallahassee Board of Realtors works diligently to assist it's members with the most current information regarding all issues in the real estate industry, seeking to c...
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By John Stehmeyer
(Pro Players Realty)
10 (mostly) cheap  ways to make a property more attractive to shoppers: 1. Improve first impressions. Touch up the paint on the front door and other areas that buyers see first. 2. Clean up the landscaping. Trim hedges and trees, and plant some annuals in the flowerbeds. 3. Paint the interior. A coat of light yellow or cream with contrasting white woodwork looks fresh and clean. 4. Refurbish the floors. Buff the hardwoods. Install new carpets – or at least get them professionally cleaned. 5. Take care of the big problems. If the house needs a roof or the front stoop is crumbling, get them fixed. 6. Buy warranties. Putting appliances under warranty gives homebuyers a secure feeling. 7. Improve energy efficiency. New windows or improved insulation tell a potential buyer that the seller is...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
  The Cartus Real Estate Network is holding its annual international conference in Desert Springs, California today through Friday in order to bring real estate relocation leaders together from around the world. I was selected to attend again this year my wife decided to come along (something about a hot springs spa…). The purpose of the relocation industry is to better facilitate the process of moving people from one community to another. When a local home buyer decides to buy a home, so much of the process of moving is not a big deal. But when a buyer from another community relocates to Tallahassee, many more concerns need to be addressed. A relocation expert will make that process go much smoother. Affinity Partners Assist Home Buyers (And Our Home Sellers) CENTURY 21 First Realty is...
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All day Wednesday and Thursday, all star Smart phone, Super Phone, PDA, SEO trainer Dick Betts is going to be in Tallahassee at the Tallahassee Board of Realtors office to share the knowledge! This will be the Third year in a row I have attended training with Dick and all I can ever say is Dick Betts Rocks! Today's saavy real estate buyers demand instant information and Dick helps greatly to increase one's accessiblity.  Like many Realtors, working hard to keep up with your website, blog, texts, e-mails, voice mails etc. it is important to keep up with trends and to learn every trick in the book to maximize the use of these tools. Now more than ever a Realtor must master the technology available and Dick Betts is one who can equip you.  He has really helped this Tallahassee Realtor! I w...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
We have received so many inquiries via our new Tallahassee Foreclosures Web Site about purchasing Tallahassee foreclosures that I am feeling like a recorded message. Many buyers want the perceived deals that “foreclosures” imply, so I figured I would lay out some advice that really fits our current times. With so many of our homes upside-down these days, the distressed property market is going to be around for quite some time, so home buyers should learn the new rules. Changing market conditions require vigilant study from real estate professionals, so make sure that you are working with a real estate company that is truly tracking the state of the housing market. Understanding Tallahassee Foreclosures The first rule for homebuyers interested in Tallahassee Foreclosures is that they sh...
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