Tallahassee, FL Real Estate News

By Alex Mordas, Green Building Consultant
(EarthSTEPS)
  For newbies and old-timers alike, Tallahassee Green Drinks has moved to the last Wednesday of the month (from the 3rd Wednesday).  If you have not yet been to one, it is a great place for networking with other green-minded folks! Every month there is a different speaker from one of many areas of sustainability. Usually, folks have time to get there, settle down, mingle, listen to a speaker for a short presentation, and then continue to enjoy the evening for an hour to three more..!   When: The last Wednesday of every month at 5:30pm- ?? Formal introductions at 6:30pm The next meeting will be July 30, 2008.   Where: Where: WATERWORKS located at 1133 Thomasville Rd Tallahassee, FL. Venue is subject to change   Speaker: TBA Come Have a Drink with us!   Alex Mordas, M.Sc. EcoBroker® & REA...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
You might want to check out our Tallahassee Real Estate Inventory Update again. Every thirty days, I add another long-term trend chart with the goal of eventually having a 365-day trend chart. As you can tell, we just added the 120-day trend graph.  Our goal is to monitor as many trends in real estate as possible. Understanding Trends In Real Estate With the feedback that I have received on our market update, I think it might be wise to discuss why we publish real estate trend analysis, rather than just charting the daily ups and downs of the market as do many other real estate web sites. Actual inventory trend analysis helps us to understand the overall movement of our residential inventory over a period of time. Of all the trends in real estate that we study, inventory trends are the ...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
re you in a situation that you never thought could happen to you? Are you worried about losing your property through bank foreclosure? If so, Century 21 First Realty in Tallahassee has created resource videos that explain your options and some processes that might be right for you. If you are facing a possible foreclosure due to late payments on your mortgage, there are some things that you can do to get back in the good graces of the bank(s). You could: Get current on your payments Work-out a loan modification with the bank(s) Ask the bank for forbearance (put the past-due payments as principal on the back-end of the loan) Surrender your deed to the bank (Deed in lieu of foreclosure) Sell your property and pay-off all liens Sell your property through a “short sale” So what does all thi...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
I received an email request from a reader “Nancy” in Orlando, Florida last night. For medical reasons, she needs to move to a real estate market that has little humidity and she wants to be in Prescott, Arizona. Nancy writes “Hi Joe, saw your site after doing a search “where do I trade my house“. My husband and I have a Lakefront Home (upscaled) on 1 Acre with Rental Income near Orlando, FL. It is a 4 BR, 4 BA, 4012 sq. ft., multi-level very unique and sunset views from every “angle”. It is priced at $1,599,000. My husband is a Licensed, R.E. Broker in FL (he actually use to be District Direct of Century 21 out of Miami) Anyway, I have Fibromyalgia and we are looking to trade a house in Prescott, Arizona only (I have narrowed down the climate to a “T”) We are looking for:  $500,000 - $9...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
Readers asked for it, and Century 21 First Realty is delivering the goods. I have received numerous requests to give reports on the surrounding counties that are included in the Tallahassee real estate market. Lot prices in the four-county area of the Tallahassee real estate market have risen quite a bit. The blue line (Jefferson County) is off the chart due to a very expensive land deal in January of 2008. The trend line for Jefferson County will normalize once January 2009 is posted. Jefferson County seems to have the least amount of activity going on in the Tallahassee real estate market. The following chart shows the average price trend of Jefferson County homes, lots, condos, townhouses and mobile homes. Gadsden County seems to have slowed down with the rest of the Tallahassee real...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
Every month when I receive the data for home sales in Tallahassee, I generate real estate trend reports and convert them into color graphs and post them on the Tallahassee Real Estate Web Site. If you single-click on the center of the real estate video below, you will see an brief intrepretation of each of the twelve color graphs that I post each month. The graphs are for Leon County Florida home sales (single-family, condos and town houses). Keep checking out the Tallahassee Real Estate Blog every day for updates that include charts, graphs, and analysis of the Tallahassee real estate market. If you like this Article then please subscribe to my blog through a full RSS feed. You will be able to stay informed about the happenings in the Tallahassee Real Estate Market. You can also subscr...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
Every month when I receive the data for home sales in Tallahassee, I generate real estate trend reports and convert them into color graphs and post them on the Tallahassee Real Estate Web Site. If you single-click on the center of the real estate video below, you will see an brief intrepretation of each of the twelve color graphs that I post each month. The graphs are for Leon County Florida home sales (single-family, condos and town houses). Keep checking out the Tallahassee Real Estate Blog every day for updates that include charts, graphs, and analysis of the Tallahassee real estate market. If you like this Article then please subscribe to my blog through a full RSS feed. You will be able to stay informed about the happenings in the Tallahassee Real Estate Market. You can also subscr...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
I was asked by a local Realtor, Penny Herman, to help her prepare some market views for an upcoming interview on Fox Business News, a national broadcast which will occur on July 8th at 4:00 p.m. I’ve known Penny for years, and I can tell you she really hustles and she is a great role model for all of her peers in the industry. Penny asked that I provide some insight into the current inventory situation in the Tallahassee real estate market. She had seen a prior blog of mine and wanted to be able to share some of the positive signs that we are seeing here in Tallahassee. If you are a regular reader of the Tallahassee Real Estate Blog, than you have been seeing the general trend of rising inventories. This is not good. I have pointed out many times in the past that we cannot begin to talk...
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By Alex Mordas, Green Building Consultant
(EarthSTEPS)
Interestingly, in Tallahassee, were you to poll homelookers in the last few years on where they would most want to live, you would probably hear a long list of high-end neighborhoods on the far, far outskirts of town.   Not any more. As gas prices continue to increase, even the more affluent of us are getting hurt at the pump and starting to question our long commutes and arduous trips to the grocery stores. We are slowly, but surely, starting to see a revitalization and renewed interest in our more centrally-located nieghborhoods. Urban infill is becoming a part of our vocabulary. And, thanks to companies such as K2, New Urbanism is a term that many have now heard. (Check out K2's Evening Rose development!) It's not just the cost of gas that is driving this change, but also the recogni...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
Just over three months ago, I wrote a blog article in the Tallahassee Real Estate Blog that examined the relationship between Home Prices and Interest Rates in determining the time to buy a home. It has been the source of numerous comments and debates in several real estate forums on the Internet. If you refer back to that article, I suggested that future rising interest rates would make a cheaper house less affordable. While I figured that it was highly likely home prices would be falling, I knew that rising interest rates would leave most buyers with higher monthly payments. Sure enough, mortgage interest rates are rising, as you can see in the chart below. So, even if you are not thinking about buying a Tallahassee home, you might want to look into refinancing your home. Back in Apri...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
For those of you who have been following the trend of Tallahassee foreclosures and the bevy of short sales in Tallahassee, you will want to know that Fannie Mae has introduced several new and updated policies regarding bankruptcy, foreclosures, short sales, and principal residency conversion in a document titled Fannie Mae Announcement 08-16. If you click on the link to the Fannie Mae Announcement 08-16, you will find the details on these changes. I have written this blog as a brief summary in an effort to point out a significant occurrence at Fannie Mae and what might be a huge market influencer in the next six months. The biggest issue addressed in the Fannie Mae Announcement 08-16 is that Fannie Mae will finally establish a policy for short sales (or what they refer to as “preforeclo...
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By Chris & Renee Chaback, BSBI Partners bsbipartners.com
(Keller Williams Realty)
Hi All! I am Back...I guess that works if your Arnold... Anyway, one of my Lender Buddies sent me this email this Morning.  I thought it would be helpful to you, so I decided to pass it on. As emailed to me: Annual Percentage RateWhat is the Real Cost of Financing? Annual Percentage Rate (APR) is a tool that consumers can use as a starting point to compare loan programs. However, it's important to keep in mind that APR is not a perfect system, and not all lenders calculate APR in the same way. While the Federal Truth-in-Lending Act does require any mortgage broker or lender to disclose APR to the consumer, there is no rule written in stone for calculating this number that each and every lender agrees upon.The point of calculating APR is to let the consumer know what the actual cost of t...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
I was asked by a local Realtor, Penny Herman, to help her prepare some market views for an upcoming interview on Fox Business News, a national broadcast which will occur on July 8th at 4:00 p.m. I’ve known Penny for years, and I can tell you she really hustles and she is a great role model for all of her peers in the industry. Penny asked that I provide some insight into the current inventory situation in the Tallahassee real estate market. She had seen a prior blog of mine and wanted to be able to share some of the positive signs that we are seeing here in Tallahassee. If you are a regular reader of the Tallahassee Real Estate Blog, than you have been seeing the general trend of rising inventories. This is not good. I have pointed out many times in the past that we cannot begin to talk...
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By Dave Peeples
(Century 21 First Realty)
Details Photo Gallery View Rooms 32312-Tallahassee (Golden Eagle) MLS #186373 FOR SALE$474,900 Century 21 First Realty Joe Manausa - Tallahassee Real EstateEmail Joe Manausa - Work: 850-386-2001Cell: 850-523-6178Fax: 850-383-6400 More Photos(12) ScaledImage Quick Links Virtual Tour Request More Info Email Listing More Photos(12) Details Address: 9006 Shoal Creek Type: Residential Style: Single Story Bedrooms: 4 Bathrooms: 3 Suite: No Living Area: 3,700 square feet Year Built: 1997 More Details Description This gorgeous home sits on a 1/2 acre lot in Golden Eagle and includes Wood Floors, Gourmet Kitchen, Mexican Tile, Master Suite with Deluxe Bathroom, Gas Fireplace, Vaulted Ceilings, Soap Opera Staircase, Huge Bonus Room/Office/Playroom, Large Deck for Entertaining, Privacy Fence, Roc...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
Well the year is half-way over and we’ll be gathering a whole lot of data over the next three weeks to help us create the mid-year report for the Tallahassee real estate market. We’ve been playing around with some new technologies and need your help. So, just to make sure this point does not go un-noticed…. HELP Many of our readers have had questions regarding some of our charts, graphs and analysis of the Tallahassee real estate market. In order to make our regular, re-occurring real estate market reports better understood, we are experimenting with video files to explain the real estate market reports. So, how can you help? Simply watch the following video and then comment below with some feedback. Is it too long? Too short? Too dry? Just right? If we are explaining 12 different graph...
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By Alex Mordas, Green Building Consultant
(EarthSTEPS)
  I just read an article in the Tallahassee Democrat (it’s a few days old now, but when you’re a REALTOR these days, reading news is somewhat of a catch-up game) entitled “Because AIDS isn’t over”.    …WHAT, It’s not!? It seems to me that I haven’t heard anything about AIDS/HIV for quite some time. Last time I can remember giving it much thought was… wow, now I feel old! These days, I’m married, two kids, a mortgage, and an alarmingly spreading waist. My thoughts are too often taken up with the hum-drum of early-parental life: “do we have enough diapers?”, “Will we make next months mortgage and still be able to cover the growing costs of two small children?” “What’s for dinner, and WHO is going to cook it!?” So it was with an uneasy jolt to my world-view and my general sense of well-bei...
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By Alex Mordas, Green Building Consultant
(EarthSTEPS)
Here in Tallahassee we are lucky to have one the most generous city rebate & incentive programs for building or remodeling green. e.g. if you are building an energy-efficient home and you are interested in getting it ENERGY STAR certified, the city of Tallahassee will pay you up to $1/square foot of conditioned space, up to $2,000 dollars! This not only covers the cost of the certification, but will put money in your pocket! For more information on these and other rebates & home-improvement grants in Tallahassee, go here, or check out the website for Tallahassee's "Go Green" Program. Included are links to green building information, green power options, and the available gas rebates that the city provides if you are going to switch to natural gas.   Alex Mordas, M.Sc. EcoBroker® & REAL...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
While our current subscribers know that the Tallahassee Real Estate Blog features articles including charts, graphs and analysis of the Tallahassee real estate market, I also try to include anything that relates to real estate nationwide and occasionally I feature something that is unique to Tallahassee, but not necessarily real estate. Today is a day for unique. And I mean UNIQUE! My friend needs some help from us, so I decided to sponsor a contest. A really cool (but not “real estate cool”) contest that will solicit your creative genius. You see, this friend of mine is a genius. He has invented a fishing net that will enable users to store away the net when they are not using it and yet rapidly retrieve it for when it is needed. But he needs your help and is willing to bribe you to he...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
There has been some debate lately in the Tallahassee real estate market regarding how one would measure appreciation rates of homes in a given real estate market. Some people like to think that you compare the median home price in our market today with the median home price from a year ago, and that will show you the current appreciation. I disagree. Completely. Vehemently. Patently. O.K. I’m out of big words. I believe that the median home price cannot be used to measure appreciation because the median home itself does not remain constant. It’s not saying an apple a year ago cost $.29, and today it costs $.32, therefore it appreciated. You see, last year, after the end of the boom market, the median home size in Tallahassee might have been 2,000 square feet. Now that prices are droppin...
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By Alex Mordas, Green Building Consultant
(EarthSTEPS)
With all of the different options out there for going green and all of the ideas about where it is most cost-effective to invest in improvements, what and who are we supposed to buy or believe!?   While nothing is going to be as comprehensive and beneficial to you as a full on class 1 Home Energy Rating (HERS), here's a simple and free online energy audit that might help point you in the right direction:   Free Home Energy Audit   Alex Mordas, M.Sc. EcoBroker® & REALTOR® LEED for homes, Field Agent Green Home Certifying Agent, FGBC www.tallahassee-ecobroker.comalexmordas@kw.com (850) 559-4976 Referrals are an important part of my business. If you or someone you know is in need of real estate services, please give me a call. Thank you.  
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