Tallahassee, FL Real Estate News

By Joe Manausa, Tallahassee Real Estate
(Joe Manausa Real Estate)
Yesterday, I showed information for the entire MLS. Prior to that, all of my articles had focused on the Leon County, Florida market area. This is the area that my business is focused on and I have much better information for the Tallahassee Real Estate Market than I do the surrounding counties. But someone asked me how the entire market was doing, so I pulled all of the sales in the Tallahassee Board of Realtors Multiple Listing Service (MLS) for the past six years. The chart below shows how the average sale price for single family homes, condominiums and town homes has changed for the entire MLS, which includes the counties of Leon, Wakulla, Gadsden, Jefferson and Franklin.  As you can see, the trend over that period of time is steep. The average price in the MLS, as we started the 20...
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By Eva Armstrong, Environmental Visions
(Environmental Visions)
We started up the Blue Ridge Mountain Parkway at the Southern end, which looks like the western end to me on the map, but we'll go with the official name.  From the town of Cherokee (interesting place!) we started the road up the mountain.I actually took some great pictures in Cherokee, but I'm saving the description for the pictorial wrap-up.  Can't do them justice with my writing ability.  We were little concerned early in the morning.  We stopped at EVERY view stop - and there are a LOT of them.  At first we had very little change in color, but about an hour into the climb, the colors started to to peep out of the green, both on the road and across the mountain range.  As we reached the top, at about 5000 feet, low and behold, while about 5-7 days yet from peak color, the trees still...
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By Eva Armstrong, Environmental Visions
(Environmental Visions)
Sunday morning--- what a gorgeous morning to set out on the road!  I love traveling along uncharted territory, waiting to see what the world has in store for me.This day was a day of interesting surprises.  The biggest one was not pleasant.  But I'm a little ahead of myself.  We overnighted in Commerce, GA, about an hour south of the mountains.  As we approached and started up HWY 441 onto Scaly Mountain, Aunt Gina pointed out the kudzu vines on her side of the road, then on my side of the road.  Then everywhere we could see on that side of the mountain!                                                   Now for those of you who don't know what Kudzu is, it is an invasive plant, a vine, introduced into the US to control erosion?  Unfortunately, no one checked to see what would happen if ...
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By Eva Armstrong, Environmental Visions
(Environmental Visions)
It's been two years since I had a vacation, and in August I called my then 86-year young aunt who LOVES to travel and said "let's plan a trip."  Now this really means - "will you plan a trip, and I'll drive..." which works for me since I don't have the time or patience to put it together - and she does!So here we are in Commerce, GA, 300 miles north of where we started this morning, heading to the mountains of North Carolina to check out the changing colors of the leaves (highly recommend by JaneAnne).  As we left Florida and crossed into Georgia this morning several things occurred to me:I forgot the camera I had put on the kitchen counter... so I bought a throwaway and will save the pix for a wrap up story when I return;There was an immediate and very noticable difference in the real ...
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By Joe Manausa, Tallahassee Real Estate
(Joe Manausa Real Estate)
I had a meeting with a group of Tallahassee Real Estate Investors yesterday and we were discussing the Tallahassee Real Estate Market. One of the things that we focused on was the reasons to be "bullish" on Tallahassee. First of all, Tallahassee is a college town. With upwards of 60,000 college students attending our three major schools, Florida State University, Florida A&M University and Tallahassee Community College, Tallahassee has an "industry" of higher education that is ripe for continued growth. Additionally, Kaiser College and Lively Technical Center add to the mix of college students. Most of these schools either have no more room for housing, or have no desire to be in the housing business. The colleges in Tallahassee rely on the community to house their students. I wrote a b...
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By Eva Armstrong, Environmental Visions
(Environmental Visions)
Ok - I needed a break from the serious stuff, so today I'm writing about Mallard Pond, which is basically my backyard!                                                                                                                                                         It is a lovely, 6-acre pond, an old man-made cattle pond that lucky for me and my neighbors has a pump on it so we can keep it at fairly stable level.  Full of bass, brim and an occasional alligator that wanders up form the wetlands to the south.  My home is on the hill to the north and over looks the pond which is nice.  I get a great view of the activities and we get lots of species of birds throughout the year.The interesting thing this year was that Tallahassee experienced the WORST drought in over 100 years!!!  Here...
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By Gene and Rebekah Rivers, The Rivers Team, Broker/Owner
(Keller Williams Town & Country Realty)
Hello all! I wanted to tell you about a for sale by owner I previewed this week. It is a 3bedroom, 2bath home with 1989 square feet in northeast Tallahassee. It features new appliances, countertops, crown molding, updated bathrooms and more! The floorplan has a formal dining room, large family room, eat-in kitchen, and nice screened back porch. The house is wired for surround sound as well. Asking price is $269,900.Please call me at 850-508-0261 or email me at kim@ringtherivers.com to arrange a showing.Happy selling!-Kim Rivers     
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By Joe Manausa, Tallahassee Real Estate
(Joe Manausa Real Estate)
Inventory levels are up and sales have cooled off back to the pace that Tallahassee has been used to in the past. The boom is over. So if you are thinking that maybe you'll just "try the market" to see what you can get for your home, you need not waste your time.We had a Tallahassee Home Owner come in to the office the other day and said that they might want to sell their home. Their reasoning was that if they could get $X for their home, they would be able to buy another home because they knew it was a buyer's market. One has to remember that it is a buyer's market both ways (you sell in a buyer's market when you are buying in a buyer's market!).When the market was booming in '04 and '05, this kind of logic made a lot of sense. Home prices were skyrocketing, and it did not take much ef...
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By Eva Armstrong, Environmental Visions
(Environmental Visions)
An even dozen (not to be confused with a baker's dozen!   Today I'm focusing on the five water management districts that receive funds from Florida Forever.  In Florida, our water resources are managed along geologic water basins.  The management of the basins is governed by independent boards, appointed by the governor, who have ad valorem taxing authority.  Interesting setup, wouldn't you say?  Contrary to western water law, in Florida, the water is owned by the public, not the fee simple land owner so the water management districts (WMD) were created and empowered to protect, promote, restore and provide water resources and water supply for the needs within their basin boundaries.  Very different from other parts of the country.   The geographic size of the districts varies, as does ...
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By Joe Manausa, Tallahassee Real Estate
(Joe Manausa Real Estate)
I just came across this report by the Treasury Inspector General for Tax Administration recommending a study of the validity of 1031 Exchange filings. After writing a series of blog articles on Like-King Exchanges, I thought I'd send this out as a finale of sorts. Seems like they feel not all filings have been valid, so they are going to perform a study to make recommendations To view the report, including the scope, methodology, and full IRS response, go to:http://www.treas.gov/tigta/auditreports/2007reports/200730172fr.pdf.  About The Author   As Broker and Co-Owner of Century 21 First Realty, a Tallahassee Real Estate Brokerage business, Joe Manausa utilizes his MBA and 17 years of Tallahassee Real Estate experience in order to help clients with large investment opportunities while a...
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By Eva Armstrong, Environmental Visions
(Environmental Visions)
Florida Forever has proven to be even more successful than its predecessor.  Probably because our rate of growth has remained pretty constant during the 16-year span of these programs and we've seen the face of Florida changing.  Places that used to be rural are now facing development pressures that many didn't think would come for another 10-20 years.                                                  The only thing that has affected that rate of growth was the disastrous hurricanes Florida experienced between 2004 and 2005 which didn't slow people moving into the state, but did increase the number moving away.  If you haven't been following our insurance problems, it's enough to drive anyone to flee the state, and the politicians seem to be compounding the problem, but that's an issue f...
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By Eva Armstrong, Environmental Visions
(Environmental Visions)
At one time Florida was better known for it's land swindles than it's beaches and people are still trying to get rid of swampland or wetlands in the middle of nowhere that will never be the road to riches they imagined when someone called them or they responded to an attractive ad in a newspaper.  There is an answer for some, however, and it's encompassed in Florida's land conservation program, Florida Forever.Florida's tradition of protecting it's rich natural history began back in the 60's with a progam called the Environmentally Endangered Lands program and has been going strong ever since.     Up until the early 80's, the Legislature used to provide cash each year according to the chart to the right (yea!  I finally got a chart in a blog!!!!)  Then they got smart and realized that s...
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By Eva Armstrong, Environmental Visions
(Environmental Visions)
I have spent the past 18 hours consumed with computer problems... does that ever happen to you?  I was soooo spoiled working for the state... when I had a problem, I just picked up the phone, dialed 4 numbers and within 5 minutes our tech folks were in my office to figure out what was wrong... when the problem was at the office.  Oh, for the days...   Last night my laptop decided to go on strike, just as I put the finishing touches on my AR blog, pictures, and charts - charts!  I had never even tried charts before!  and it all went down the tubes... thank goodness I backed up the hard drive last week or I would have lost even more.... Today, I struggled with weird error messages all day on my PC--- and no matter what I did, I just could NOT get the photos back into the format for the bl...
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By Eva Armstrong, Environmental Visions
(Environmental Visions)
Florida has invested almost $6 Billion in protecting our wild and scenic places, plants & animals.  If you live in this paradise, or have ever visited here, you know the investment is starting to pay off.  Place like Tosail Hill Preserve State Park were in the middle of nowhere what the state purchased the original 6 miles of gulf front beaches in the early 1990's.  The sand dunes back then were 20-30 feet high, the highest in Florida!  They have since been shortened by the hurricanes of recent years, but the beauty of this place can not be taken away.....Today, it is in the middle of one of the fastest growing areas of Florida and is now considered an "urban park" because of the development that is rapidly surrounding it.                 In 2006, The Florida Park Service, in concert wi...
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By Joe Manausa, Tallahassee Real Estate
(Joe Manausa Real Estate)
Heading out of town. Leaving warm sunny Florida for the frigid Northeast. Brrrr. I understand it is getting into the 50's in New York right now. I'll have to bring a parka.   I'm heading to West Point for my 20th reunion. I will get to see quite a few of my classmates (many that I have not seen since graduation). Some of my classmates will not be there. We have lost some in the wars, and some of them are still fighting for us over in Iraq and Afghanistan. They will be remembered. Some of my classmates have retired this year. I just don't feel that old (though many body parts feel old...).           If my blogs are a bit fuzzy over the next few days, I will go ahead and apologize now. I plan on bringing all of the gear required for a "working" reunion. I'll try to check in each and every...
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By Joe Manausa, Tallahassee Real Estate
(Joe Manausa Real Estate)
How To Do A 1031 Tax Deferred Exchange Yesterday's blog reviewed examples of performing a 1031 tax deferred exchange and how boot is either avoided or recognized as a gain. Today, we'll address the basic flow of the entire process, from selling the original property through the closing on the new property.The most important step in getting started with a 1031 tax deferred exchange is hiring the right real estate company to ensure that the process is successful from beginning to end. Miss one key step and all of your work might not be allowed under the Internal Revenue Code Section 1031!Selling the Original PropertyList your property "For Sale" with Real Estate Company. Include language in the listing advising buyers that this will be a 1031 sale and Buyer must cooperate with Seller rega...
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By Eva Armstrong, Environmental Visions
(Environmental Visions)
I just left an interesting and entertaining dinner this evening, listening to three men from various backgrounds discuss the ins and outs of power generaton.  It was the 4th time in the past 2 months that I have taken the opportunity to hear what energy representatives are saying about the "state of the world" so to speak.  Of the three tonight, only one actually worked at one time for the industry, a local power company here in Florida.  The other two were a university professor and a former nuclear power regulator.  It made for a nice mix of information.  But what stuck me was the amazing messages the different energy guys have been delivering to Tallahassee audiences of educated, informed people who care about environmental issues (Tallahassee, with it's Canopy Roads, loves it's tree...
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By Gene and Rebekah Rivers, The Rivers Team, Broker/Owner
(Keller Williams Town & Country Realty)
 Here is a home that I have recently previewed.  It is in a great location in northeast Tallahassee.  This stucco 4 bedroom/2 bath home has over 2500 square feet. The extra large master suite includes 2 walk-in closets. You can entertain in style with the oval shaped pool and screened back porch with tile floor.  The owners have just reduced the price to $325,000.If you would like to see this home or get more information about it, please email me at ellie@ringtherivers.com or call me directly at 850-545-0814.
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By Joe Manausa, Tallahassee Real Estate
(Joe Manausa Real Estate)
As I was driving into work this morning, I was listening to Fox Radio on XM Satellite in the car. A very interesting story was being featured and it made me think it would make for great blogging....A husband and wife are doing a cleaning in their house and find $100,000 stashed away in the attic. The are stoked! Imagine, how cool is that? The story makes the news and everyone is talking about how lucky they are.Well, not everyone. The previous owner of the house, a widow whose husband was murdered in that house, says that is her money. They are now going to court to determine if "Finders-Keepers" should be the result.What do you think?Subscribe to this Blog: Joe Manausa, MBA, CRB, CRS | Broker / Owner | Century 21 First Realty 2365 Centerville Road | Tallahassee, Florida 32308 | 850-38...
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By Joe Manausa, Tallahassee Real Estate
(Joe Manausa Real Estate)
Yesterday, we learned the difference between realized gain, recognized gain, and boot. Today, we will examine some examples of 1031 exchanges and apply our new vocabulary to the situations that they present.In our first example below, we see that the investor sold a property for $180,000 and bought one for $400,000. The mortgage on new property was greater than the one it replaced, and the same amount of equity remained in the investment. This is a picture-perfect 1031 exchange. No boot was received by the investor, so there is no corresponding recognized gain. In the next example, the investor sold a property for $400,000 and bought one for $300,000. While the equity in the investment remained the same, the mortgage amount for the new property was $100,000 dollars less than it was for ...
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