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Tallahassee, FL Real Estate News

By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
4880 Quail Valley Road, TALLAHASSEE, FL Photos Maps & Local Schools Print Click here to Get Directions$930000 4 Beds - 3.5 Baths - 1.81 sqft Lot OPEN HOUSE 4/20 from 12PM - 2PM! Nestled on a sprawling 1.8 acre lot, this White Oak Construction 4-bedroom, 3.5-bathroom luxury POOL home is ready for summer! This home has a gorgeous updated kitchen with Thermador appliances, Calacatta quartz counters, beautiful solid wood and brick floors, and detailed trim work throughout. The sitting room off the kitchen works well as a supervised study space, play area, or home office. Ample space with 3 bedrooms downstairs, an additional bedroom and bath upstairs, and a HUGE 32x24 bonus space with wet bar is perfect for both watching movies and family game nights. Enjoy the expansive back porch overlook...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
1513 Atkamire Dr #A & B, Tallahassee, FL Click here to Get Directions$275000 5 Beds - Photos Maps & Local Schools Print FANTASTICOPPORTUNITY on a quiet street walking distance to FSU!! Featuring three bedroom, one bath apartment UP (APT A) and two bedroom, one bathroom apartment DOWN (APT B), this property is an investors or owner-occupants dream. Both apartments feature extensively renovated interiors and many structural updates (APT A - 2019 Roof, 2018 Water Heater, 2020 HVAC; APT B - 2019 Roof, 2018 HVAC, renovated kitchen with new appliances), but also allowing the next owner to put their personal touch on the home. This ideal location is convenient to shopping, schools, parks and entertainment for home buyers or is a great investment opportunity - do not miss this one before it is...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
2801 Chancellorsville Dr #335, Tallahassee, FL Click here to Get Directions$239900 2 Beds - 2 Baths - 10890 sqft Lot Photos Maps & Local Schools Print This sleek updated 3rd floor condo is conveniently located in the desirable NE gated community of Barrington Park between WalMart and Chili's so both are only a few steps away. Condo features 2 BR's and 2 full baths with an upstairs loft perfect for a guest suite or office. The kitchen and baths feature brand new granite, sinks and plumbing fixtures and imported Italian tile flooring. Stainless steel appliances and upgraded light fixtures complement this contemporary home. Publix, Target, many restaurants and shopping are all within one mile of the community and I-10 is within 5 minutes. The neighborhood offers amenities such as a clubho...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
30 Sand Pine Cir, Midway, FL Click here to Get Directions$290000 3 Beds - 2 Baths - 10890 sqft Lot Photos Maps & Local Schools Print 2 hr notice for easy showings** **Heated/Cooled space in garage not included in sq ftg and can easily be removed** This turnkey All Brick property seems to tick all the boxes for convenience and comfort. Its close proximity to the highway, as well as its short commute of roughly 25min to the Capital and FSU stadium, make it incredibly desirable location. And with the added bonus of savings on property taxes and utilities, it's not just a great home but also a smart investment. Plus, knowing that the HVAC system was replaced in 2014 and the property has only been owner-occupied adds to its appeal. Follow This Home
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By Carol Palacios
(Century 21 Manausa & Associates)
Joe Manausa | Century 21 First Realty | (850) 386-2001 830 East Park Avenue Unit 1104, Tallahassee, FL 2BR/1+1BA Condo offered at $165,000 Year Built 2009 Sq Footage 1,100 Bedrooms 2 Bathrooms 1 full, 1 partial Floors 1 Parking 4+ Uncovered spaces Lot Size Unspecified HOA/Maint $0 per month DESCRIPTION SPECIAL FINANCING AVAILABLE! Great opportunity to live downtown and still afford to enjoy downtown living! Only 1 mile from downtown, less than a mile to the mall AND close to the hospital! 2 models available for show - 1101 is a 1 bedroom/bath 1104 is a 2 bedroomr/1.5 bath. BRAND NEW INTERIORS - Granite countertops, hardwood or cork flooring, all new appliances. Buyers can customize to suit. Please Contact Century 21 First Realty for more information. see additional photos below PROPERT...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
  Foreclosure sales and short sales continue to grow in the Tallahassee housing market, showing signs that the shadow inventory is emerging into the mainstream inventory and perhaps we will begin to work our excess inventory through the system. As we have often reported in the past, the destiny of the real estate market is in the hands of the banks and lenders who hold the keys to millions of distressed properties. Long time reader “Patrick” asked for some positive news, so today’s post is dedicated to him for reminding me that there are plenty of good signs in our market, that we just have to work through the mess that we created. Breaking News: The Senate has amended a bill to give homebuyers who were under contract on a home purchase by April 30 an additional three months to close th...
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By Carol Palacios
(Century 21 Manausa & Associates)
Joe Manausa | Century 21 First Realty | (850) 386-2001 2014 Holton Street, Tallahassee, FL 3BR/1BA Single Family House offered at $57,000 Year Built 1952 Sq Footage 1,003 Bedrooms 3 Bathrooms 1 full, 0 partial Floors 1 Parking None Lot Size Unspecified HOA/Maint $0 per month DESCRIPTION Renovated kitchen & bath. New carpet, vinyl & interior paint. Walking distance to FAMU and less than 2 miles from FSU. Sold "As Is" with right to inspect. No seller's disclosure. see additional photos below PROPERTY FEATURES - Central A/C - Central heat - Family room - Dining room - 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: Jun 16, 2010,...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
Recently, I stumbled across a national study that mirrors a measurement that I conduct from time to time, and that is comparing the sales price of properties to the going rental rates that these properties could generate as investments. This Gross Rent Multiplier is a neat little rule of thumb that will help you anticipate the potential for great long-term returns on real estate investments. The formula for calculating the Gross Rent Multiplier is Market Value ÷  Annual Gross Income = Gross Rent Multiplier (GRM) The reason that we measure activity in the Tallahassee housing market so diligently is to find signs that the market is changing, growing, receding, or just doing anything that our customers should know about. For those people who live in Tallahassee and have no plans to move, m...
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By Carol Palacios
(Century 21 Manausa & Associates)
Joe Manausa | Century 21 First Realty | (850) 386-2001 3116 Sharer Road, Tallahassee, FL 5BR/2+1BA Single Family House offered at $230,000 Year Built 1965 Sq Footage 1,953 Bedrooms 5 Bathrooms 2 full, 1 partial Floors 2 Parking 2 Car garage Lot Size .92 acres HOA/Maint $0 per month DESCRIPTION Large family? Students wanting a house with room to move around? This is it! Beautiful hardwood floors and tile throughout, a huge rec room, two decks, and a beautiful yard, this is a great house that just needs a little TLC. Selling AS-IS with right to inspect. LR ceiling fan, DR chandelier and LR draperies NOT included in sale. see additional photos below PROPERTY FEATURES - Central heat - Fireplace - Hardwood floor - Tile floor - Family room - Living room - Dining room - Dishwasher - Refrigera...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
This morning, as I was looking at our traffic source reports for the Tallahassee Real Estate Web Site, I saw that a recent visitor found us through a Google Search. We get a lot of visitors from the search engines because of our thousands of pages of original real estate content (which of course is a major part of our marketing strategy at CENTURY 21 First Realty).  This morning, one inquisitive reader had the following question: do virtual tours really help sell listings? Immediately, I thought this would make a great topic for this morning’s blog post. Hopefully, the new reader will stick around long enough to find his answer here. Google sent the reader to our site because of our article on Do Pictures Really Help Sell A Home? I suspect that information will be good, but it does not...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
Based upon the feedback that I received on the first two posts in my series on the Real Estate Shadow Inventory, I can tell that many real estate professionals around the country do not even have a great awareness of its impact in their market area. I have pointed out recently that I think the shadow inventory might be the most significant problem in the history of the housing market, yet the majority of my peers don’t think the problem is nearly that large. If you did not catch my first post titled Measuring The Shadow Inventory or the second one titled More Real Estate Shadow Inventory, I recommend reading them as much of what will follow is just a continuation of those thoughts and statistics. Today, I will temporarily complete this series with a look at some specific numbers in some...
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By Carol Palacios
(Century 21 Manausa & Associates)
Joe Manausa | Century 21 First Realty | (850) 386-2001 402 Midflow Street, Tallahassee, FL 3BR/2BA Single Family House offered at $104,900 Year Built 1954 Sq Footage 1,170 Bedrooms 3 Bathrooms 2 full, 0 partial Floors 1 Parking None Lot Size .24 acres HOA/Maint $0 per month DESCRIPTION Newly remodeled. Clean and neat. update bathrooms. Move in ready with fenced yard on quiet street with very little traffic see additional photos below PROPERTY FEATURES - Central A/C - Central heat - Family room - Living room - Refrigerator - Stove/Oven - Microwave - Balcony, Deck, or Patio - Yard 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: Jun 24, 2010, 10:57am PDT
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
I have been doing quite a bit of research into the real estate shadow inventory in Tallahassee in an effort to gain a better understanding of just how long the real estate recovery is going to take. When I first published an empirical market forecast regarding a “return to normal” by 2013, I had a few flaws in my assumptions. I still stand by my model, as it is simple and fairly easy to implement. The assumptions that I used included a continuation of our population growth rate as well as normal open market conditions. As we all know by now, those open market conditions have been disregarded by significant government involvement in the mortgage market, and our population growth did not occur last year. The real estate forecasting graph below was created on September 23, 2008 and publish...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
This is the 2nd blog post in my series on Measuring The Real Estate Shadow Inventory. As you might remember, we addressed the sources of supply in the “Shadow Inventory” of homes that need to be sold but are not currently on the market. Over the past several days, we have been compiling our results from the Tallahassee MLS and they are a bit disturbing. For many years now I have been reporting on the growing shadow inventory, while NAR and most real estate bloggers are glossing over or ignoring what could be the biggest news in real estate since the roof was invented. What is going to happen if we amass a shadow inventory that is so large that the new construction market can plan to shut down for the five to ten years? We have often times illustrated the fact that more homes fail to sel...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
While so much has changed in the real estate market over the past three years, I have found one element that has not changed a bit. The fact is that people who are looking to buy a home in Tallahassee show up at our office with one of two  sets of expectations. Home buyers either see us as a great REALTOR® who is going to help them through the process of buying a home, or they see us as somebody who is going to take them to go see houses. The former is what the relationship needs to be, while the latter is something more like what a tour guide can offer. The REALTOR® Relationship Understanding your relationship with your REALTOR® is important if you want to safely navigate the difficult new world in the Tallahassee housing market. We had a customer recently who showed up at the office,...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
This is the first part of a multi-part series concerning the shadow inventory in real estate. For more than two years now, it appears as if most real estate publications and reporting services are glossing over what could be the biggest problem in the history of the housing market. Just a reminder, the Tallahassee Real Estate Newsletter published the 25th Edition today and was sent to all subscribers. If you haven’t taken the time to subscribe yet, you can click this link to receive the most informative newsletter about Tallahassee and the real estate market. Measuring The Real Estate Shadow Inventory So what exactly is the shadow inventory in real estate? It is those houses that need to be sold, but are not on the market. We call it the shadow inventory because we know that they are ou...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
  I have been talking quite a bit to real estate investors who are anxious to start working their way back into real estate investments but want to make sure they go about it in a safe manner. Many have read my blog on How To Invest In Real Estate Safely and have wanted more examples. Quite often, they are in the buy and flip mentality, so I have to work with them to understand that “buy and flip” is a business, not just a real estate investment. Most of my clients who invest in real estate want to do so in a passive manner. They are doctors, lawyers, business people, school teachers,  retirees, police officers, etc. They do not want to be actively working in the Tallahassee real estate market. It is for this reason that I encourage a long-term hold mentality, where market cycles come, ...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
We often review Tallahassee neighborhoods at our real estate blog in order to keep a finger on the pulse of the Tallahassee housing market. Today, we take a quick peak at Heartwood Hills, a popular community on the east side of Tallahassee, to see how unit sales are values are performing. Not surprisingly, home sales and home values look to be consistent with the performance of other neighborhoods in Tallahassee. Home Values In Heartwood Hills When we look at the real estate graph above, the blue vertical bars measure the total number of arms-length existing home sales recorded each year, while the red area measures the average price per square foot of those home sales in Heartwood Hills. Just as we have been seeing across all neighborhoods in Tallahassee, home values are dropping in He...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
A favorite one of Aesop’s many fables is about a boy who cried wolf one too many times. I think this fable is well suited to teach those of us in real estate a very important lesson about how we report information and what we advise people to do. Aesop wrote: A shepherd-boy, who watched a flock of sheep near a village, brought out the villagers three or four times by crying out, “Wolf! Wolf!” and when his neighbors came to help him, laughed at them for their pains. The Wolf, however, did truly come at last. The Shepherd-boy, now really alarmed, shouted in an agony of terror: “Pray, do come and help me; the Wolf is killing the sheep”; but no one paid any heed to his cries, nor rendered any assistance. The Wolf, having no cause of fear, at his leisure lacerated or destroyed the whole flo...
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By John Stehmeyer
(Pro Players Realty)
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
It has now been a month since the end of the Homebuyer Tax Credit and many of us are wondering how the market will react. For long-time readers of the Tallahassee Real Estate Blog, you know that I have predicted slower home sales, falling home values, but a rise in the “average” home price. On February 17th, 2009, the American Recovery & Reinvestment Act 2009 was passed, which included a new, temporary tax credit as an incentive for first-time homebuyers. With this bill, first-time homebuyers could qualify for up to $8,000 in a tax credit for the purchase of a principal residence. The credit would cover the time frame of January 1, 2009 through December 1, 2009. Later, it was determined that the housing stimulus was not so stimulating, so in November of 2009, the credit was expanded and...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
When conducting a simple housing market overview, we like to look at the “big 4″ trend lines to determine what is happening in the Tallahassee real estate market. Of course, by the “big 4,” we mean daily new sales, daily new pendings, daily new failures, and daily new listings. In the real estate graph above, the blue line shows that the one-year trend on new listings has flattened out around 15, which is still significantly lower than the 21 new listings per day the market was seeing at the end of 2008. The daily new failures trend (red line) continues to drop as well, down to 10 per month. In a simple observation, we can say that 15 new listings per day (with 10 failing to sell) means that roughly 1 in 3 listings are selling at today’s current rate of sales. Of course, there is a more...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
Happy Memorial Day Tallahassee! Memorial Day is our Nation’s holiday which was created for those of us fortunate enough to be around to enjoy the benefits of the sacrifices made by those who have fallen in service to this great nation. Today reminds us that we should never forget that freedom isn’t free and that many men and women have given their lives to preserve our way of life. Turn on any tv anywhere, open up any newspaper or magazine, or log in to any web site and you will find non-Americans and Americans who wish to threaten those very freedoms. Today, as we celebrate a wonderful Memorial Day in Tallahassee, there are friends and family members in harm’s way in Iraq and Afghanistan, and other places around the world. I ask our readers to think of them today and be thankful for th...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
Are you having any success in selling a home in Tallahassee? I get this question from prospective home sellers in Tallahassee, as well as from REALTORS from all over the internet. I think it is one of the more important issues defining our housing market nationwide. Most real estate professionals define a “good housing market” as one where when somebody wants to move, they can sell their home. Simple. Concise. Understandable. There is a market for homes and somebody will want to purchase mine if my family needs to move. Unfortunately, that has not been the case for the past few years. In fact, it has gotten bad enough that we actually track some key housing statistics so that we can continually monitor and be ready to answer the question on the mind of every home owner … How Hard Is It ...
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