Everybody always wants to know “How is the real estate market?” I think the answers can be found through prudent research and a simple study of the current supply and demand elements in any given market. While real estate is local, you can use the Tallahassee real estate market as a fair microcosm of the national housing market. You can read The Market Bulletin for updates a couple a times a week, where you will find analysis and great visual aids such as the following real estate graph. Please note in the graph that the information represents a “trailing twelve month average” of each category, thus removing the effects of seasonality.   See A Detailed Explanation And Enlarged Graph   02/24/2009

With all the new information floating around the internet about the First-Time Homebuyer Federal Income Tax Credit, I figured a quick summary and a dynamite link to an explanation page was in order. Last week, our new President signed the American Recovery And Reinvestment Act of 2009, which included significant improvements to the temporary First-Time Homebuyer Tax Credit. At a bare minimum, it raised the maximum credit from $7,500 to $8,000, but there was so much more. Follow This Great Link To Summary Of First-Time Homebuyer Federal Tax Credit 02/24/2009

From: Martha Stewart In theory, we all know how to paint a room. Dip a brush or roller in a color and spread it over the wall. But painting neatly and efficiently is a skill most of us could brush up on. We have a basic guide to the essential tips and techniques to get the job done.Step 1: Filling the Cracks- Fill cracks with caulk and immediately smooth out with sponge before it dries.- Fill holes with spackle and let dry completely. Sand using a medium-grit paper.- Repair cracks with self-adhesive fiberglass mesh joint tape, apply joint compound, and lightly sand.Step 2: Cleaning the Walls- Wash walls with a damp sponge.- Remove dust by wiping baseboards and floors.Step 3: Priming the walls- Use white primer for light-colored paint.- Use tinted primer for dark-colored paint.Step 4: Us... 02/24/2009

  I received a question from a reader that I felt would make a terrific topic for a blog post. “Joyce M.” wrote We will be looking to buy later this year sometime and don’t want to over-pay. Property taxes are not low in Tallahassee. What are the best neighborhoods [safety, value, upscale] for homes $300,000-$325,000 range built after 2000 with gas fireplace, and about 2000-2300 sq ft; thanks. As you can tell, this is not a simple “quick answer” type of question, and it parallels a question I received recently from a long-time friend who wondered what area of Tallahassee was going to appreciate / depreciate faster over the long run. It has been my experience that many people in the real estate brokerage business will give a quick “off the cuff” response to this question, but I have foun... 02/23/2009

Not sure how to choose a color, prepare a room, or clean a paintbrush? Learn some practical and unusual tips from Brian Santos, the nation's favorite painting expert. Tips for Painting Novices  Q. What are three things a novice should know about painting? Brian Santos: You might be surprised at the answer! Most of us might guess buying enough paint, priming, or prepping the walls. What do you think?  Expert Advice: Tips for Novices Expert Brian Santos reveals the laws of painting. Read more in his new book, "Painting Secrets." From Painting Secrets from Brian Santos The Wall Wizard Author Brian Santos Q. What are three things a novice should know about painting? Brian Santos: It's time to lay down the law -- the three immutable laws of painting. These are the secrets of painting. Use th... 02/23/2009

One statistic that I like to examine each month in the Tallahassee real estate market is how we performed in the recent month versus the same month the previous year. Unfortunately for Leon County, Florida, we have seen a record 31 straight months of declines in our home sales.   For more charts, graphs and analysis of the Tallahassee real estate market, please visit The Market Bulletin on the Tallahassee Real Estate Web Site. 02/22/2009

  I have to chuckle when I read the occasional blog or report that shows “activity growing” in the housing market. One key metric to understand for any real estate market is the local affect of seasonality on that market. Over many years of measuring, one can understand how each month of the year historically performs (thus demonstrating the seasonality affect). The following real estate graph shows Seasonality in the Tallahassee real estate market. You can click on the graph for a full-size view.     For more charts, graphs and analysis of the Tallahassee real estate market, please visit The Market Bulletin on the Tallahassee Real Estate Web Site. 02/21/2009

Keeping a vigilant eye on the home supply situation in Leon County, Florida helps us identify changes in the real estate market as they occur. One such trend to track is the short-term inventory trend, which has been showing growth since early February. [Click Image To Enlarge] For more charts, graphs and analysis of the Tallahassee real estate market, please visit The Market Bulletin on the Tallahassee Real Estate Web Site. 02/21/2009

I was curious about how the current supply of homes for sale in Tallahassee would appear against demand for the past. If you follow the information on the Tallahassee Real Estate Blog, then you know that the current supply of homes in Tallahassee is a little over 12 months worth at current demand levels. But graphing current supply against previous demand levels show that we are very near “normal” supply (Click Picture To Enlarge). The red line in the graph above represents a balanced market at 6.0 months of supply. The blue vertical bars show that current supply would have been normal from 2003 through 2006, based upon the demand from those days…. oh, to get those demand levels back! For more charts, graphs and analysis of the Tallahassee real estate market, please visit The Market Bul... 02/21/2009

Returning Phone Calls!   This has always been a pet peeve of mine so to speak, since early in my career working for the Attorney General of Florida.  I learned quickly that as a public servant, no matter WHO CALLED, a return call was  expected.  I took that lesson to heart                                                                                                          and strived over my 25 years in various public positions to return phone calls of everyone that called me, or have someone get back to them within 24-48 hours.   Now that I'm in the private sector, I am amazed at the number of people that don't return phone calls.  To their detriment!  For example, I received message on my cell phone a couple of weeks ago from a woman in another town looking for a commercial proper... 02/20/2009

One of the most important trends that we continue to monitor at the Tallahassee Real Estate Web Site is the movement of home inventory levels. Many of our blogs are written on current inventory trends, and many of the cyclical reports that we publish are based on the supply and demand of housing in Tallahassee. Doing this so often got me wondering exactly how many homes should be on the market. Is our gross over-supply purely a supply-side issue, or is diminishing demand starting to control the picture? I decided to tackle this question for today’s blog. View the Formula For Determining Normal Real Estate Supply 02/20/2009

A guide to buying the right type and amount of exterior paint for your home.   Better Homes & Gardens        Characteristics/Use Application Latex Easy cleanup, durability, and fast drying make latex the choice for amateurs; can be applied even over damp surfaces; naturally mildew-proof; may be incompatible with a previous oil-based finish. Don't thin; apply with one stroke of the brush or roller; work it out too far and you'll get thin spots. Acrylic Actually a type of latex; a water-thinned paint that dries even faster than most and will cover just about any building material, including masonry and properly primed metal. About the same as ordinary latex. Alkyd Solvent-thinned, synthetic-resin paint; has most of the same properties as oil-based types, but dries more rapidly; good over ... 02/19/2009

  I just updated my extensive database of home sales in Leon County, Florida that covers the time period of January 1991 through January 2009. This includes all Tallahassee home sales (single family detached homes, town homes and condominiums) in the Tallahassee real estate market. Not much to say when a picture’s worth a 1000 words.     Tallahassee Real Estate Market Reports For charts, graphs and analysis of the Tallahassee real estate market, please visit The Market Bulletin on the Tallahassee Real Estate Web Site. 02/19/2009

  As I was assembling all of the charts, graphs and analysis of the Tallahassee housing market this past weekend, I had a very strong suspicion that I wasn’t going to find good news. I had already performed a preliminary analysis by downloading  January sales from the Tallahassee Board of REALTORs Multiple Listing Service (MLS), and the early prognosis was not what I was seeking. As we have covered many times in the past, the key to finding the turn in the Tallahassee housing market is getting our inventory levels back down below 6.0 months of supply. Since we are double that now, the turn is not going to happen really soon. But prior to the turn of the market, there will be some other tell-tale signs that it is within our reach this year… Click here for a graph of the tell-tale signs t... 02/19/2009

Understanding color concepts and painting techniques will help you pick the right hues the first time -- and apply paint in a way that will last. Here are some tips to get you started. From Simply Perfect Color Schemes       Surface Prep Painting a wall is an easy way to add color to your rooms. Here are some hints designed to help you achieve painting perfection. Before you apply the first coat of paint, be sure the surface is clean, smooth, and dry.       •·                    Sanding: Use 80-grit sandpaper to smooth out blemishes and surfacing compound to repair dings. Always sand the surfacing compound once it's dry and remove any dust. •·                    Washing: It's a good idea to wash wall surfaces before you begin, especially if you have sanded and need to remove the dust. •... 02/19/2009

  For those who have been watching, the Obama Stimulus Plan seems to be moving forward for him to sign it into law now. While I am no expert on the subject, it appears to contain roughly 286 billion dollars in tax cuts and 54 billion dollars for cash-strapped states, the package contains 311billion dollars in appropriations, including 120 billion dollars in infrastructure, 14.2 billion dollars for health care, 105.9 billion dollars for education and training. It also includes more than 37.5 billion dollars for energy infrastructure, 24.3 billion dollars for those impacted by the economic crisis and 7.8 billion dollars for law enforcement and other programs. But what about a real estate stimulus you might ask …. Read the rest of this entry 02/18/2009

Before you choose a color, dip the brush, or get rolling, read these 12 easy tips. From Quick and Easy Decorating Pick the proper paint. •·                    Flat paint is the dullest of the sheens. It's best used in low-activity areas, such as hallways, living and dining rooms, bedrooms, and on ceilings. Of all the sheen options, a flat finish is best at concealing wall imperfections. •·                    Eggshell (sometimes called satin or low-luster) paint has a bit more shine to it than flat. It works well in kids' rooms, where easier-to-clean walls are often wanted. •·                    Semigloss paint has even more shine and reflective qualities than eggshell and is great for kitchens and bathrooms where moisture and cleanup are major considerations. •·                    Gloss... 02/17/2009

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 February will also be a tough month for the Tallahassee housing market. In order to give the reader perspective in “how much the market has dropped,” consider that we saw 293 home sales ... 02/16/2009

Guest Blog Post by Summer MunyonAs a Realtor, I speak with sellers every day who ask how to sell their home and what homes are selling in this market. My response MUST include information about the short sale and foreclosure market, and sellers quickly discuss how they’ve cared for their homes and their home is so much nicer than a foreclosure.Today’s Distressed Properties Are Much Different Than Past ForeclosuresWhile this will be further explained in a separate post, it’s first important to state that a 2008-2009 foreclosure or short sale looks much different than a foreclosure prior to 2008. Many of these homes have been well-maintained and economic hardships may have resulted in a seller relocating to another state with negative equity in their home, an inability to continue to make... 02/16/2009

We are all aware there were a lot of real estate investors that made a lot of money buying and reselling, and frequently before construction was completed.  Those were the ones that were really knowledgeable of the market; or maybe, just plain lucky.  Then there were those that just got caught-up in the frenzy, didn't know when to get out, when the getting was good and got stuck with a lot of liability.  There are a lot of them particularly in the State of Florida.  When it gets to a point where they cannot, or elect not to continue to pour more money into a seemingly investment gone badly they look for a way out.  If they already have a loan on the property and cannot sell it, they consider just letting the bank/lender foreclose.  Then the lender gets property they do not want.  If the... 02/16/2009