Tallahassee, FL Real Estate News

By Chris & Renee Chaback, BSBI Partners bsbipartners.com
(Keller Williams Realty)
Hi All,It has been a while since I posted a Blog, and I apologize.I hosted an Open House today in the Bull Run Subdivision in NE Tallahassee Florida.I had between 15-20 groups come in between the hours of 12pm - 3pm.  I am pretty sure this is an indication there are folks just like you and me who are interested in looking and are thinking about a Real Estate Purchase.I was asked how our Local Real Estate Market is doing compared to 2007.  So, I have done some research and here are the numbers from the Tallahassee Board of Realtors MLS.  Since the Open House was in the popular NE, these number reflect the NE of Tallahassee.Some of the popular subdivisions in the NE are Bull Run, Summerbrooke, Ox Bottom Manor, Golden Eagle, Piney Z, Killearn Lakes, Killearn Estates, Moore Pond, Rosehill, ...
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By Joe Manausa, Tallahassee Real Estate
(Joe Manausa Real Estate)
Today will be a short message as I’m writing this in my hotel room in Dallas, Texas. I’m attending the 2008 International Conference of the Cartus Broker Network. Cartus is a global leader in corporate and government relocation that annually assists more than 130,000 employees for a client base including more than half of the Fortune 500 companies. In Tallahassee, Century 21 First Realty is the Principal Broker for the Cartus Broker Network. I feel very honored to represent the Cartus Broker Network in Tallahassee and value the benefits of a relationship that supplies my company with so many corporate and government transferees to and from the Tallahassee real estate market. The 2008 Cartus Broker Network International Conference has so much to offer, especially for a real estate compan...
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By Joe Manausa, Tallahassee Real Estate
(Joe Manausa Real Estate)
Tallahassee Florida Real Estate Blog Wow, we’ve only had our Tallahassee Florida Real Estate Blog up and running since mid-December, but already we have become one of the most active blogs on the internet! The largest directory of blogs on the internet , including the Tallahassee Florida Real Estate Blog is located on the Technorati web site. As you can see in the screenshot below, the Tallahassee Florida Real Estate Blog has a rank of 2,681 (where 1 is the highest ranked blog on theinternet and 19,444,121 is ranked much lower). This means out of the tens of millions of blogs that Technorati tracks, the Tallahassee Florida Real Estate Blog is ranked in the top .01%! Technorati ranks blogs by tracking how much activity that they produce as well as how many other blogs and web sites link...
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By Joe Manausa, Tallahassee Real Estate
(Joe Manausa Real Estate)
I continue to monitor inventory in the Tallahassee Board of Realtors Multiple Listing Service (MLS) and what I see is a continued increase of “months of supply” of homes. It’s not that the inventory is actually rising, it is the drop of home sales that is causing this.In every real estate market, there are basically two types of buyers: Non-discretionary real estate buyers are buying because they have to move. Reasons for this could include new occupation, forced relocation, or any other outside agent that requires a move. On the other hand, discretionary buyers move because they want to move. Reasons for this include a change in income, change in family status or size, or just a change, period. Discretionary buyers are typically the largest group in a stable economy (such as we have in...
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By Joe Manausa, Tallahassee Real Estate
(Joe Manausa Real Estate)
In today’s tough real estate market, where Sellers seem to far outnumber Buyers, it is important to have a complete “bag of tools” when you desire to sell a home in Florida. Creative Financing - A Required Skill For Realtors Today, I will focus on an instrument that is fairly common on Wall Street that we do not see very often on “Main Street,” and that is the Zero Coupon Bond. For those readers who do not invest their money in bonds, I will briefly define a zero coupon bond as an investment that generates no monthly payments, but rather accumulates interest and is repaid in full, plus interest, on a future maturity date. If you would like a much better definition of the zero coupon bond, just follow the link preceding this to the Wikipedia site. So, how do we apply the zero coupon bond...
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By Joe Manausa, Tallahassee Real Estate
(Joe Manausa Real Estate)
Let Century 21 First Realty help you build a custom home. We've helped hundreds of happy families, and we can help you too. From To To Supply creative input now and then sit back and watch your southern living magazine pages unfold! See the Home Built In Less than Three Minutes! See the full movie with 5 hilarious songs! If you like this Article then please subscribe to my blog by Email. You will be able to stay informed about the happenings in the Tallahassee Real Estate Market. You can also subscribe through a full RSS feed. Joe Manausa is the Broker and Co-Owner of Century 21 First Realty. He can be reached by clicking on the comments button below, via e-mail through his company website at www.manausa.com, or by calling (850) 386-2001. Add to Onlywire
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By Eva Armstrong, Environmental Visions
(Environmental Visions)
                     I can't believe it's been 12 months since I joined the ranks of the Florida Real Estate Sales Professionals.  Wow, 12 months!!! Seems longer than that!  I've learned a lot over this past year, because as many of you know,  I came from public sector real estate.  That is a whole different ball game from the private market.  Same rules:   different game.When I was driving to work this morning, it struck me it was time for gratitude.... Time to say thanks to some key people that have been helping me learn, avoid mistakes, clean up mistakes, you name it as a newbie to this business.  So here is my list of All Stars for 2007-2008!Tom Jacobs- Thank you for letting me interrupt your thinking to answer my many questions when no one else is around!  I know that can be irrita...
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By Joe Manausa, Tallahassee Real Estate
(Joe Manausa Real Estate)
Perhaps the most written-about, most talked-about subject in the national real estate news has got to be foreclosures. If you believe the media, then the neighbor on your left and the neighbor on your right are both being foreclosed upon! So, what is the truth about foreclosures in Tallahassee? Well, foreclosures in Tallahassee are certainly happening at a faster rate than I have seen in the past, but I would not say we are seeing them occur as much as the news media would make you believe. I have found the reports to be so over-stated that I am now tracking the new filings for foreclosures (called a Lis Pendens) on our Tallahassee Real Estate Web Site. This list is available for free to all visitors at http://www.manausa.com and can be found through the menu as seen below: To show you ...
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By Joe Manausa, Tallahassee Real Estate
(Joe Manausa Real Estate)
With all the major real estate reporting centers claiming that the Tallahassee real estate market is seeing appreciation, I felt it might be a good time to explain the difference between higher spending and appreciation.As we look at this first graph, we can see that the average home price in Tallahassee appears to be higher (through February) than it has been in years past. While this is good and accurate information, I suspect that many people are using this information to declare that home prices are rising in the Tallahassee real estate market. I think that lower mortgage interest rates in Tallahassee have allowed buyers to buy more home for their money, rather than pay more money for a home. In order to demonstrate this point, I downloaded all the Leon County residential sales from...
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By Gene and Rebekah Rivers, The Rivers Team, Broker/Owner
(Keller Williams Town & Country Realty)
 Hello All, I have had a whirlwind 24 hrs and thought I'd share. I was contacted a few months ago by some folks thinking of selling. They have a beautiful home in a great neighborhood and have kept it in relatively good shape. We met and had a conversation about price and condition. The end result was a hard pill for them to swallow as I strongly recommended some fairly significant renovations. You see, the neighborhood could support a price of $425,000 however to compete at that price point buyers in this market expect certain things: granite or solid surface countertops, newer appliances, neutral fresh paint, and in many instances hardwood flooring (at least through the living areas). The alternative was not only a much lower price (likely in the $385,000 range) but a longer time on t...
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By Joe Manausa, Tallahassee Real Estate
(Joe Manausa Real Estate)
Every once in a while, we have a Tallahassee real estate sale that demonstrates the amazing power of the combination of the global reach of Century 21 with the local effort of great people. Here is a classic example of this.I received a late-night call from a U.S. Veteran working in Baghdad. He had received some bad advice on a real estate investment and needed some serious help. Somebody talked he and a friend into buying four new-construction homes to flip and make big money….. So here he was, living in Iraq and losing money in the Tallahassee real estate market! This was during the boom of the market, so the advice he received was truly bad. He turned to the biggest name in real estate, Century 21, for help. He called me from Iraq and I felt an extra special need to help him, as I a...
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By Joe Manausa, Tallahassee Real Estate
(Joe Manausa Real Estate)
I received a call from a client yesterday seeking my advice on whether or not the client should refinance a property in Tallahassee. After asking the client several questions, my advice was against refinancing until he had a better understanding of how long he would own the property.Here is how I determined this advice. Questions and Answers About The Tallahassee Mortgage Refinance What is the purpose of the refinance? Lower the monthly paymentHow long have you owned the home? Four yearsHow long do you plan on owning the home into the future? At least three more years, most likely five or more years.What is your current interest rate? 6.25%Do you currently pay PMI Insurance? NoWhat did you pay for the home? $236,000 four years ago (financed $212,400)What is your current payment (Princip...
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By Joe Manausa, Tallahassee Real Estate
(Joe Manausa Real Estate)
I have been posting the Tallahassee real estate market charts on the Tallahassee real estate web site for the past week. In doing so, I and many readers were observing that the following chart is a bit baffling. As we can see above, it appears that prices are rising…. yet we know inventory has risen and unit sales have fallen. What we expect to see is some downward movement on prices. I asked readers of this blog (and others) for opinions on why this was happening and really none of us had a good answer….. UNTIL Gooch recommended we look at price per square foot. He reasoned that maybe consumers were able to buy more expensive homes due to falling interest rates, but that maybe they were getting more house. So, this next chart is what  Gooch requested. It shows residential home sales in...
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By Joe Manausa, Tallahassee Real Estate
(Joe Manausa Real Estate)
I received so much feedback on The Creative Cure For Selling Your Home article that I decided to follow it up with a “how and why” to consider a Purchase Money Mortgage when selling your home. So what is a Purchase Money Mortgage? Sometimes a buyer wants to buy a home and has good enough credit to purchase the home, but is short some of the cash that the lending institution will require to close the loan. In cases like this, the Seller can hold a note for some of the cash and secure it as a secondary lien on the home. When this is done, we refer to the Seller’s second a Purchase Money Mortgage. Let’s consider an example on how this could work.Mr. and Mrs. Smith would like to buy a Tallahassee home. They find that Mr. and Mrs. Jones have the perfect home for sale in Tallahassee and it is...
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By Angie Goodman
(Keller Williams Realty)
 While Tallahassee hasn't experienced the foreclosure rate as the rest of Florida, we have our share of them and short sales.  To help homeowners understand short sales, preserve their credit and avoid foreclosure and to help buyers understand the specifics of purchasing foreclosed properties, I am conducting a seminar on Saturday, May 3, 2008 at 10:00 a.m. at the Keller Williams Realty office at 1520 Killearn Center Blvd. here in Tallahassee.Interested individuals can call me at 850-321-4666 to register or inquire for more information. Angie Goodman, CRS, SRES
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By Alex Mordas, Green Building Consultant
(EarthSTEPS)
Interested in Composting but don't know how..? Come on down to the Turkey Hill Farms When:This Sunday (March 30th), from 1-5pm. There will be demonstrations on worm bins and composting, and more than enough knowledge and information to help you get started on the right foot. Email turkeyhill@earthlink.net for more information. Registration is not necessary. Alex Mordas, M.Sc.EcoBroker® & REALTOR®LEED for homes, Field AgentGreen Home Certifying Agent, FGBCwww.tallahassee-ecobroker.comalexmordas@kw.com(850) 559-4976 
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By Mike Carlos, Realtor, Tallahassee FL
(Keller Williams Town & Country Realty)
After 4 years with the RE/MAX Real estate franschise, I decided to make a big change and move KELLER WILLIAMS REALTY.  I felt this company was a better match for me with their progressive thinking and greater local market presence.  I look forward to continued sucess in the Tallahassee Real Estate Market and look forward to putting together a great team of motivated individuals.  If you have any questions about my move or want to know more about KELLER WILLIAMS call (850) 656-9080 or e-mail me at MikeCarlos.Realtor@gmail.com
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By Katerina Gasset, Get It Done For Me Virtual Services
(Get It Done For Me Virtual Services )
Tallahassee Florida short sale for sale for the best buy price of $209,000.  If you are looking for a great 4 bedroom, 2 bathroom home just outside of town on nearly 1/2 acre of land in a secluded and private setting than this home is just the home for you. This home is a great place to raise your family of kids and pets. This home is a newer home built in 2003 and has nearly 2000 square feet.  Enjoy a great oversized family room that is 28x15. Feel the spacious floor plan complete with vaulted ceilings, laminate wood floors, upgraded lighting and fans, wood burning fireplace and a formal dining room with arched doorways.    This seller chose us to list his house with us because of our short sale experience and he found us through our Active Rain blog. I wrote a post when we first got t...
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By Alex Mordas, Green Building Consultant
(EarthSTEPS)
   Roughly a year old, the Capital City Chapter of the US Green Building Council is off to a great start! One of the nations newest chapters, Capital City USGBC is already holding numerous events, recruiting heavily, and providing a valuable resource to both the building/real estate community and the general community at large. Founding member Christina Newburgh of Barkley Engineers, and a few other dedicated individuals have worked hard to get this group off of the ground. The group is in the process of obtaining 501(c)(3), and is actively seeking members who wish to participate on it's committees. The next upcoming event will be the USGBC-FCRC Product Fair:   April 22: 5:30 to 9:30 PM | USGBC-FCRC Product Fair     Location: Leon County Civic Center Ballroom (505 West Pensacola St.)   ...
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By Alex Mordas, Green Building Consultant
(EarthSTEPS)
  Got kids? Need something to do this weekend? Come on down to Tallahassee's 40th annual Springtime Tallahassee Festival!!!  Voted one of the top 20 events in Florida, Springtime Tallahassee draws great crowds, and is one of the largest festivals in the Southeast, with a parade of over 70,000 participants! For parents, the Children's park is a great resource, as are the 4 local entertainment stages.  For more downtown Tallahassee open-air events, check out the events list here 
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