Tallahassee, FL Real Estate News

By Carol Palacios
(Century 21 Manausa & Associates)
  ARE YOU IN TROUBLE?When you purchased your home chances are you took out a home loan and your lender issued a lien on the property or took a security interest in the property in case you were ever to default on the payments. In the event that you cannot make your mortgage payment, this security interest gives your lender the right to take the house away from you- aka- foreclose! This means they can auction off your house and keep the proceeds in order to cover its investment. Worst case scenario, if the property cannot be sold for what you owe, a deficiency judgment can be filed against you.What is a deficiency judgment?  It's simply a judgment against the borrower in favor of the lender in an amount equal to the difference between the funds received from a court sale of the property ...
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By Joe Manausa, Tallahassee Real Estate
(Joe Manausa Real Estate)
HEY, MOVE ME OUT!Seems easy right? I always thought so. I mean how hard can property management be? You Find a Tenant in Tallahassee who stays for an extended period of time in your Tallahassee Real Estate Investment, pays you rent, and then moves out or renews when the lease is up.Ah, to the contrary. The real work begins when the tenant moves out..... In Florida, liability begins when the tenant moves out. Yes, cleaning up the mess. But today we are going to approach this from a different perspective. Let's look at what happens to that Security Deposit? Did you know that you have 30 days to file a claim against it? Most people think that the security deposit is the owner's money. Well, it's not until a claim has been made against it. And even when that is done, there is still a waitin...
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By Joe Manausa, Tallahassee Real Estate
(Joe Manausa Real Estate)
Ah, Relief is Here!Would you buy some Snake Oil to cure all your ills? I think I might have found the product!This is the First Piece of Spam that I have received with a Mortgage Lender promising "yesterday's garbage." A main ingredient to our current problem Mortgage Market is Loan Products that were designed to default. Here is a Mortage Company saying it still has that product!  Now, let me see, what could this possibly lead to.....Just let me look into my Crystal Ball ....  The Great Visionary predicts .....I'm going to go out on a limb and predict this is just a leading ad to get Realtors to talk to them. However, if they really do have them, than I predict this Mortgage Company has a short future....Is anyone else getting hit with stuff like this, or am I just lucky?
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By Joe Manausa, Tallahassee Real Estate
(Joe Manausa Real Estate)
Building CredibilityIf you read my previous post about "losing customers," you know that I have this issue burned into my mind. When I ask my agents what happened, usually the response is what the customer told them, or what they thought the customer told them. I find that when I lose a customer, the problem is ME! Customers do not leave if they feel that I am critical to their success! Credibility creates a bond with the customer that holds them to you now (for this transaction), and more importantly, in the future for referrals.Here are the Top Five Signs that your customers may not think You are Credible: They asked you to step outside while they "talked it over" They won't call you back They just won't listen You find yourself saying "Buyer's  are Liars" They listed with someone els...
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By Joe Manausa, Tallahassee Real Estate
(Joe Manausa Real Estate)
It's time for another look at the Tallahassee Real Estate Market. I take a close look at "the numbers" every month so that Century 21 First Realty is able to give the best advice to our Tallahassee Home Buyers and Tallahassee Home Sellers, given the current market conditions.I have attached a few of the charts that I assemble each month for Tallahassee Real Estate Agents. If you have any questions, please go to My Profile to contact me.New Construction Turning Around? It appears we are seeing positive trends on both sales and permitting from our new construction industry.Home Prices - New Construction Continues to Rise while Resales Drop a little.Correction Finally Seen in Land Prices, but Lots Still Expensive at $88,000!New Condo Sales Slow, But Prices still RisingTotal Condo Sales Sti...
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By Joe Manausa, Tallahassee Real Estate
(Joe Manausa Real Estate)
A friend of mine called to tell me he needed to sell a home in Tallahassee (which is great, that is what I do for a living!). Because he has a rather large home that will tilt the scales on price range, I decided to do a very comprehensive study on the Tallahassee Real Estate Market and our current supply of homes. What I found is what most Tallahassee Real Estate Professionals already know. Inventory is at a ten-year high. Ouch! I examined all single family detached homes, both for sale now as well as those that had sold over the previous 12 months and was able to determine the "Months of Supply" of homes for various price ranges in Tallahassee. Unfortunately for my friend, his home is worth in excess of $700,000, meaning he is competing in a price range that has more than 2 years wort...
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By Joe Manausa, Tallahassee Real Estate
(Joe Manausa Real Estate)
Today we decided to do a class on how to write a blog on Active Rain. We had quite a few Tallahassee Real Estate Professionals in attendance. The class was taught by a Relative Newbie to Active Rain, but it was mostly affective anyway. Our goal was to get more of The Best Real Estate Agents in Tallahassee blogging on Active Rain. Some Great Agents (see above) were really excited to be here, yet other Tallahassee Realtors were not so excited (see below).The training covered how to post a blog (this was the actual blog created in the class) and how to take advantage of all the different tools that Active Rain has to offer.So, in Summary, here is What was Covered in the Tallahassee Real Estate Training Class:Step 1: Click on the "post" tool to begin your new blog post.Step 2: Make sure you...
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By Joe Manausa, Tallahassee Real Estate
(Joe Manausa Real Estate)
I received an email from Bev Thorne, SVP Marketing for Century 21 stating that we have grown to 56 Countries, 8,000 offices and 143,000 real estate agents!So, does this size of a network of Professional Real Estate Agents make a difference to me Selling Real Estate in Tallahassee, Florida?You bet it does! We are able to market our properties on the Strongest Real Estate Network in the world. More exposure to our Tallahassee Homes For Sale means more Tallahassee Home Buyers. We help our Sellers Get Top Price in Tallahassee!So how did this Real Estate Network get so big? Bev explains that "we treat our customers right and provide them with a product and service that is above and beyond what they expect!" Here in Tallahassee, Florida, we are a part of that success. In fact, we utilize a Bu...
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By Joe Manausa, Tallahassee Real Estate
(Joe Manausa Real Estate)
Statistics for Us AllI was doing some research today for a Tallahassee Real Estate Condominium Development that we are doing in Tallahassee, Florida when I pulled up a quick statistical report from the Tallahassee Board of Realtors MLS. I was trying to figure out the average price of Condo Units Sold in Leon County, Florida this calendar year, so I entered in the criteria and was shown this:So my first thought was "how can the average price be so much higher than the median price?" Then I looked at the Maximum Price and the Minimum Price and I saw immediately that I would have to do my own research (somehow, I do not think a Condo sold for $65M in Tallahassee, nor for $1K either!).POINT #1: The MLS is loaded with information by Salespeople, not by Statisticians. This is important to kno...
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By Carol Palacios
(Century 21 Manausa & Associates)
So something happened in your life and you have fallen behind on your mortgage payment. Surely this is not a situation to take lightly! You don't have the extra cash to bring the mortgage up to date and you have already been served foreclosure notices indicating that your home will be repossessed unless you do something about it.... So what do you do?At this point you have a number of options, none which sound all that appealing at first! You can (1) Put the home on the market in hopes of selling it prior to the final foreclosure/auction date for profit (2) Organize a short sale with bank approval (3) Stay in the house without attempting to sell it or make the payments and wait until the day you are evicted because you don't own the house anymore, the bank does (4) Give up, give it back...
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By Joe Manausa, Tallahassee Real Estate
(Joe Manausa Real Estate)
The 2007 Leon High School Football Hall of Fame Induction Banquet was held last week at the Leon County Civic Center. While there were plenty of great former Leon football players present, a small group took center stage. Apparently, Florida State University owes a small debt of gratitude to Leon High School. 5 Quarterbacks who starred for FSU learned their position while attending Leon High School. Is this a national record for source recruiting? Gene Cox, former Head Football Coach at Leon stated "I have checked with coaches from the University of Florida, the University of Miami, the University of Georgia, the University of Alabama and the University of Tennessee and none of them can come close to 5!" Way to go Leon and FSU!Below is a picture of all five quarterbacks and two of their...
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By Joe Manausa, Tallahassee Real Estate
(Joe Manausa Real Estate)
Ok...so Jim Cramer, the host of CNBC's Mad Money, comes completely unglued on the Federal Reserve Board for creating economic ‚ÄėArmageddon' with the current state of the bond market (if you haven't seen this you have to check it out)...It seems that the Donald can't even hold together a mortgage company nowadays...¬†The Housing Bubble you ask?¬† ¬†And yet the Fed himself is holding steady to his anti-inflation guns by offering no plans to bail out the flailing lenders nor stimulate the housing slump... So...What Gives on the lending front?¬† Understandably we've seen a shift in high LTV sub-prime and Alt A financing.¬† I mean come on right?¬† 100% financing with every type of documentation type ranging from No Doc to Stated Income and everything in between.¬† Like we didn't see that one coming....
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By Tim Kelly, Realtor, Tallahassee, Florida
(Armor Realty)
The key to a quick sale is determining what your home is worth.¬† Everyone knows that you say?¬† Anyone can go online and determine the value of a home but knowing what a Buyer is willing to pay for your particular property will get your home sold quickly. A Realtor¬ģ can¬†help you price your home¬†competitively with¬†other similar homes in your area.¬† In our current real estate market it is imperative that your home not only be the best quality but the best price.¬† With so many homes on the market right now,¬†Buyers have a lot to choose from.¬† Make the right move and hire a real estate professional to help you sell your home and you can save yourself a great¬†deal of time,¬†effort and stress.¬†¬† You need a Realtor¬ģ who can be up front and honest about the value of your home.¬† Many sellers feel i...
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By Joe Manausa, Tallahassee Real Estate
(Joe Manausa Real Estate)
HOW DID THIS HAPPEN??? Ever ask yourself that question when something went wrong in your home or one of your investment properties? I know I have and I know that there are ways to prevent or at least minimize those mishaps.  Just think about the benefits... Preventative maintenance minimizes larger maintenance You can plan out repair/maintenance costs A well maintained home can be a safer home Your property can be worth more Your house will definitely show better You are protecting your investment You can sleep easy at night Let's take a look at some steps we can take to make our homes safer and save us money in the long run. Some of these tasks can be demanding so please seek professional help when needed and remember the time and money you spend in preventative maintenance will save y...
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By Joe Manausa, Tallahassee Real Estate
(Joe Manausa Real Estate)
A Buyer's Guide to the Tallahassee Real Estate MarketFor the informed buyer, opportunity just may be knocking on your door right now.  The interest rates are still great and there are plenty of properties on the market from which to choose.  Many sellers are offering incentives to purchase.  If you are waiting for the market to hit rock bottom, you just may be as lucky as those sellers who were waiting for the market to peak before they sold and missed it.  Now they wish they wish they had not waited.  Another plus for the buyer is the possible passing of the proposed property tax amendment in January which will lower property taxes for the new home owner as well as the investor.   If you don't think current interest rates are great.....you need to take a look back at the last 30 years ...
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By Joe Manausa, Tallahassee Real Estate
(Joe Manausa Real Estate)
The highs and lows of a sales career can by trying to say the least. It is important to re-evaluate your goals periodically and to remind yourself WHY you chose real estate as a career. True inspiration and motivation is hard to come by.  I find that the most inspiring stories are those that involve an individual that has overcome extreme obstacles to accomplish their goals. Part of the goal setting process is identifying "obstacles" to success. What are your obstacles? What is keeping you from reaching your goals? Come see me to help brainstorm ideas around your obstacles. I will be teaching a goal setting class on Tuesday at 11:00 in our training room at Century 21 First Realty. Please find this week's training schedule below. Everyone's hard work is much appreciated. Third Week of Au...
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By Joe Manausa, Tallahassee Real Estate
(Joe Manausa Real Estate)
It didn't Appraise?¬† Seriously?How many times have you uttered those words to your favorite lender when they called to tell you that your deal closing in 3 days has an ‚Äėappraisal issue?'¬† Probably been hearing it a little more lately since the sub-prime and Alt A lending market has been in tight downward spiral right?¬† That being said it's a good time to brush up on the Fannie Mae standards for valuing property.¬† I find a good source to stay current on such is the Mortgage Guarantee Insurance Company (MGIC) website.¬† It provides a streamlined search of the underwriting guides without having to navigate through the Fannie Mae site which can be tedious.¬† Here is a great reference that we refer to frequently regarding comparable properties.And here's a couple of valuable (yet dreadfully pa...
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By Joe Manausa, Tallahassee Real Estate
(Joe Manausa Real Estate)
Are you ready for some Football? Do not miss the Century 21 First Realty Sales Meeting this Thursday! Century 21 First Realty will be announcing its Greatest Sales Competition ever! Who are the Coaches? (We had to go outside the box to bring in talent...not Dave, not Joe...who could it be?) What does the Winning Team Win? What does the Losing Team Lose? What Team will you be on? 
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By Joe Manausa, Tallahassee Real Estate
(Joe Manausa Real Estate)
Faith, Courage & ConvictionI was doing some research about a Tallahassee Legend, Gene Cox, and was surprised that not much existed about him on the Internet. Sure, if you google "Gene Cox", plenty shows up based upon the fact that we named our local football stadium Gene Cox Stadium. However, with over 300 wins as a high school football coach, entry into every conceivable Hall of Fame, and the love and respect from the hundreds of kids that played for him, I figured there would be a trove of information out there. Unfortunately, that is not the case.I am neither a great writer, nor a proficient historian, but I was determined to find or place some type of record or history of Gene Cox on the internet. After linking through hundreds of sites, I found exactly what I was looking for. A clo...
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By Joe Manausa, Tallahassee Real Estate
(Joe Manausa Real Estate)
Brittany Estates is the Premier Mobile Home Park in Tallahassee, Florida. Featuring a community clubhouse, swimming pool and lounge area, basketball courts, and recreational area, Brittany Estates has it all. Brittany Estates is conveniently located on Capital Circle SW, near the intersection of I-10, and is within blocks of shopping, dining, and entertainment. With nearly 300 mobile homes in the park, Brittany Estates is a great place to live. Homes are available in one, two and three bedroom configurations, with units that are as new as one-year old. Call us today at (850) 509-8030 for a time to see it all. You can also inquire about Brittany Estates availability by Email.
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