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Tallahassee, FL Real Estate News

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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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
It has been quite some time since we have reported on Tallahassee Condo and Townhouses, so today will serve as an update on this ever-growing segment of the Tallahassee real estate market. If you are in the market to buy a Tallahassee Condo, you need to understand the diversity of what you will find and the basis of value around town. You need to decide if you are looking for a student condo (condo and townhouse will be used interchangeably for the purpose of this report), a downtown Tallahassee Condo, or if you are just looking for great affordable living space. Condominium And Townhouse Sales Report When we plot the one-year trend of condominium and townhouse sales, we see rising average price trends and rising unit sales trends. In the graph below, the blue line represents the averag...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
As I was assembling the Tallahassee Real Estate Newsletter this morning, I found an interesting comparison between lot values in Tallahassee and mobile home values. Over the past 20 years, these two market components have run a very similar course, but all of that changed during the real estate boom several years ago. When the housing market went crazy, mobile home values went higher as well, though not proportionately the same as homes and land values. The same seems to be true as the market recovers. Mobile home values continue to fall, just like the rest of the real estate market in Leon County, though not as dramatically as everything else. We are seeing a normalization of the relationship between lot values and mobile home values as demonstrated in the graph below. Mobile home valu...
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By Jennifer Lewis
(William E. Lewis, Jr. & Associates)
Over the last several decades, America has truly transitioned into a debtor society. Despite tough economic times, consumers are more likely to borrow than they are to delay when making a purchase. With consumers having financial obligations to multiple institutions, keeping accurate records and documentation can become a challenge. Opportunistic con artists posing as "fake" debt collectors recognize this as an area of vulnerability and are more than willing to use it to their advantage. These fake debt collectors speak English with a foreign accent and call themselves "Affidavit Consolidation Services," Criminal Bureau of Identity," "U.S. National Bank," "US Justice Department/Payday Loan Division," "Federal Investigation Bureau," "United Legal Processing" and other phony names. They r...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
Do you want to know the truth about how to sell a home in today’s real estate market? If you try and find information on what REALTORS® are doing, it seems you get information overload. With roughly 60% of the homes on the market failing to sell over the past year, it is obvious that most home selling plans are not effective. Would you hire somebody if they told you they had a 40% chance of selling your home? The fact is, that is most usually the case. The Traditional Home Selling Plan The National Association of REALTORS® conducts a survey of homebuyers each year in order to uncover trends in their buying habits and home buying methods. Would it surprise you to find that most home buyers are now using the internet during the process of buying a home? In fact, the NAR survey report that...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
  We are fortunate that the BP oil spill has not yet hit Tallahassee (not the economic effects). Last week I wrote a quick article from Cape San Blas, Florida while my family and I spent two days there. I noted that I had never seen the beach look better and there was absolutely no oil on the beach at Cape San Blas. Since that article, I have received numerous emails and comments from readers who apparently live in other parts of the country (and world) and would like updates on BP oil spill and how much it is affecting the beaches. Additionally, I’ve had a few questions asking if the oil spill has reached Tallahassee. I have included a tool in this blog to follow the oil spill live. The picture on the right shows how to collapse the sidebar in the tool below so that you can get a full-...
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By Carol Palacios
(Century 21 Manausa & Associates)
Joe Manausa | Century 21 First Realty | 850.523.6118 3304 Northshore Circle, Tallahassee, FL 4BR/3+1BA Single Family House offered at $289,900 Year Built 1963 Sq Footage 2,916 Bedrooms 4 Bathrooms 3 full, 1 partial Floors 2 Parking 2 Car garage Lot Size 79,714 sqft HOA/Maint $0 per month DESCRIPTION Back on market PRICE REDUCED.Gorgeous older home with great bones and unlimited possibilities on Lake Jackson. New Paint and many updates. Rich wood floors and pecky cypress paneled office. Fireplace. Bright sunroom off upstairs master bedroom with fantastic lake view. Almost 2 acre lot with incredible sunsets. Patio off downstairs in- law suite. 2 car garage and large utility room. Lots of space. Come watch the ducks and deer from your bedroom window. Selling AS IS w/ right to inspect Call...
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