Bobbin Brook (Tallahassee, FL)
By Joe Manausa, Tallahassee Real Estate
(Joe Manausa Real Estate)
Bobbin Trace, Bobbin Mill Woods, and Bobbin Brook (collectively the Bobbin neighborhoods) enjoyed strong house sales in 2015.2015 actually ranks as the best in the past ten years (based upon the number of houses that have sold), and the level of house sales is consistent with the number that sold during the strongest years of 1998 though 2005). In other words, houses sold at a high rate in 2015 in the Bobbins.But unlike other neighborhoods that posted strong sales, it appears as if the run has stopped cold right now for the Bobbins. Eight houses remain listed for sale, yet none of them are under contract. This is definitely contrary to what other highly active neighborhoods are showing.You can see it all right here, from the current Bobbin listings in the Tallahassee MLS to all past hou...
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By Joe Manausa, Tallahassee Real Estate
(Joe Manausa Real Estate)
If you are seeking luxury houses in Tallahassee, then the three "Bobbins" (Bobbin Brook, Bobbin Trace, and Bobbin Mill Woods) deliver some of the finest houses in our area.The Bobbins are conveniently located (just north of I-10 on the south side of Maclay Road), and houses are each situated on more than an acre of land.With mortgage interest rates remaining near all-time lows, these high end houses are selling at a rate that appears as good as ever.In this report, we will look at average house prices, average house values, and average house sizes in the Bobbin neighborhoods, as well as show current listings in the Tallahassee MLS and all closed house sales going back to 1991.Bobbin House PricesFor the real estate graphs found in this report, you will find the number of closed house sal...
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By Joe Manausa, Tallahassee Real Estate
(Joe Manausa Real Estate)
Located in Northeast Tallahassee just outside of I-10, the three "Bobbins" (Bobbin Brook, Bobbin Trace, and Bobbin Mill Woods) deliver some of the most expensive houses in Tallahassee. If you are looking for a luxury estate, situated on more than an acre, the Bobbins are a good place to shop. In this report, we will look at prices, values, and sizes of houses in the Bobbin neighborhood, as well as show current listings in the Tallahassee MLS and all closed home sales going back to 2003. House Prices In The Bobbins For each of the 3 graphs found below, we have recorded the number of closed home sales for each year (blue columns, measured on the left vertical axis), and an important real estate statistic shown in red (measured on the right vertical axis. It is important to note that sales...
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By Joe Manausa, Tallahassee Real Estate
(Joe Manausa Real Estate)
The market for high end homes in Tallahassee might be doing much better than many people realize, especially if you consider the impact of rising interest rates. While I have not read anything concrete to suggest mortgage interest rates are ready to rise significantly, the prudent homeowner should consider that it is inevitable that the market will return to historical norms sometime rather soon. What would it mean to people wanting to sell high end homes if mortgage interest rates increased 172% (from 3.2% to 8.7% ... the 50 year average)? The Market For High End Homes When we look at 11 years of sales of high end homes in Tallahassee, it is clear that it is a market that is in serious danger of complete collapse. In the real estate graph above, we see the number of high end homes sold...
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By Joe Manausa, Tallahassee Real Estate
(Joe Manausa Real Estate)
Most US housing markets saw a surge in demand for high end homes during the boom of the housing market, and now some markets are finding that there will be no recovery for the majority of these homes. It is my belief that the explosion in the sale of high end homes was fueled by a combination of two significant loan programs created by the banking industry, and these two "game changers" will not be offered again in my lifetime (more on that below). Currently, there are several years worth of supply of high end homes for sale in Tallahassee, and I see no realistic scenario that will allow these homes to appreciate again in the next ten years. This means that patient home buyers who want to buy a high end home in Tallahassee are going to see some incredible opportunities come their way. W...
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By Joe Manausa, Tallahassee Real Estate
(Joe Manausa Real Estate)
With only three homes for sale in the Bobbin neighborhoods, Bobbin Brook, Bobbin Trace, and Bobbin Mill Woods are enjoying a healthy real estate market thus far in 2012. Having posted six sales closed thus far in 2012, it would appear as if the relative supply of homes for Bobbin Brook, Bobbin Trace, and Bobbin Mill Woods is at a very healthy level. Of course, we would have to ignore the rest of the luxury homes for sale in Tallahassee (we do not). The real estate graph above shows thus far Bobbin Brook, Bobbin Trace, and Bobbin Mill Woods have not been greatly affected by distressed property sales, but values have fallen significantly due to the glut of luxury homes in Tallahassee. Home Sales In Bobbin Brook, Bobbin Trace, And Bobbin Mill Woods This next graph shows they breakdown of h...
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By Joe Manausa, Tallahassee Real Estate
(Joe Manausa Real Estate)
When I produce Tallahassee neighborhood home sales reports, I most often use information that has comes from the Tallahassee MLS. But often times, when I am researching neighborhoods that do not have many home sales, I then have to go to the Leon County Property Appraiser to get the rest of the sales that have not been recorded in the multiple listing service. This report is one of those “need more information” jobs, so the information contained in the real estate graphs and table below comes from both the Tallahassee MLS as well as Leon County. This is the most thorough analysis of the Bobbin neighborhoods (Bobbin Brook, Bobbin Trace, and Bobbin Mill Woods) that you will find on the internet. The first graph below shows the decline in the number of home sales that Tallahassee has been ...
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Tallahassee, FL Real Estate Professionals