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Tallahassee, FL Real Estate News

By Carol Palacios
(Century 21 Manausa & Associates)
Joe Manausa | Century 21 First Realty | 850.523.6118 2398 Continental Ave, Tallahassee, FL 2BR/2.5BA Single Family House offered at $112,500 Year Built 1982 Sq Footage 1,280 Bedrooms 2 Bathrooms 2 full, 1 partial Floors 2 Parking None Lot Size Unspecified HOA/Maint $0 per month DESCRIPTION You can enjoy all the benefits of townhome living with out sacrificing yard space, because this townhouse sits on a very generous size lot. The fenced back yard is big enough to grow a garden, put up a swing set for your little one(s) or let your dog run around outside. It doesn't end there other features include 4 parking spaces, oversized bedrooms with their own bathrooms. Master has a sliding glass door that leads to a big balcony where you can watch the sun rise & set. New carpet throughout, newe...
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By Carol Palacios
(Century 21 Manausa & Associates)
Joe Manausa | Century 21 First Realty | 850.523.6118 8208 Little Terry Circle, Tallahassee, FL 2BR/2BA Single Family House offered at $134,900 Year Built 1991 Sq Footage 1,228 Bedrooms 2 Bathrooms 2 full, 0 partial Floors 1 Parking 1 Car garage Lot Size .35 acres HOA/Maint $0 per month DESCRIPTION Vacant - show anytime. Home is move in ready. New vinyl floor in kitchen & utility room. New ceramic tile in hall bath. Range & diswasher replaced in 07, refrigerator 02, & range hood in 08. Large fenced back yard. Cartus relocation. Must use Cartus contract Seller willing pay first 6 months mortgage payments with a full price offer. see additional photos below PROPERTY FEATURES - Central A/C - Central heat - Fireplace - Living room - Dishwasher - Refrigerator - Stove/Oven - Yard ADDITIONAL P...
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By Carol Palacios
(Century 21 Manausa & Associates)
Wondering how to write an effective and compelling hardship letter? A hardship letter is your opportunity to appeal to the mortgage company to give you another chance. This should NOT be used to complain about what they have or have not done to make your situation worse. This letter must be honest and represent the facts clearly. If you are pursuing a short sale, the goal is to prove to them that the situation that caused you to fall behind is not temporary and you are not in a position to continue making your payments. However, if you are applying for a loan modification, your hardship letter must prove just the opposite; the situation that caused you to fall behind on your payments was temporary and you are now in the position to make payments and maintain them up to date. You must al...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
  The Federal Housing Finance Agency (FHFA) last week announced that the maximum conforming loan limits for mortgages originated in 2010 will remain unchanged from the list provided in 2009. The maximum loan limits for Tallahassee and all other areas in the United States can by found in a download-able format in the right sidebar of the Tallahassee Real Estate Blog, or by clicking this link to the list of FNMA loan limits by county. So why does it matter what the FHFA says about loan limits? Because the Federal Housing Finance Agency regulates Fannie Mae, Freddie Mac and the 12 Federal Home Loan Banks. These government-sponsored enterprises provide more than $6.3 trillion in funding for the U.S. mortgage markets and financial institutions. The ability of our market to recover and get pe...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
If you have been following the Tallahassee Real Estate Blog over the past few weeks, you know that we have sporadically reviewed some neighborhoods in Tallahassee, and lately have done the first three units in Killearn Lakes Plantation. Today we’ll take a final look at Killearn Lakes, with a review of its 4th unit of homes. Killearn Lakes Unit 4 is also know as “Grandview” and features homes on lots that range from 1 to 10 acres. As you will see from the following real estate graphs and analysis, home values have held much more stable in this neighborhood than many others in the Tallahassee real estate market. Average Home Prices In Killearn Lakes Unit 4 The first thing that I noticed when I looked at the existing home sales in Grandview was that the trends were not as seamless as Talla...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
All across America this morning, people will be grabbing their morning paper (online most likely) and reading an article that was circulated through the Associated Press about the new home construction industry. As a matter of fact, the article features a picture of a home being built in Tallahassee (and that is how this feed caught my attention). Unfortunately, the article is grossly misleading. The authors of this article apparently do not consider “supply and demand” in real estate to be a factor that home builders should consider when deciding what to do. In the real estate equation, the supply side is filled by: New home builders building homes Existing home owners selling their home Banks and asset managers liquidating their inventory On the other side of the real estate equation...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
  I have heard the rumors, have you? Tiger Woods joins the Tallahassee Real Estate Team At CENTURY 21 First Realty? It’s not enough to hear the rumors, but do we have photographic evidence as well? Of course, the picture of Tiger Woods could just be the one where he is wearing the victor’s Gold Jacket after winning the Australian Masters golf tournament this past weekend, but who knows…. Speaking of golf tournaments, I was fortunate to play in a charity golf tournament at Golden Eagle on Monday. The tournament was created to support Christmas Connection and our Winning CENTURY 21 team was sponsored by Stan Kupiszewski. Christmas Connection Serves Basic Needs Of Families This is the time of year when many great charitable groups are raising money to help people who are down on their luck...
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By Carol Palacios
(Century 21 Manausa & Associates)
Have you fallen behind on your mortgage payments? Were you successful in negotiating a loan modification with your lender and find that you are still struggling to make that monthly payment? If the answer to any of these questions is YES then you are probably realizing that the best option you have to avoid foreclosure is a short sale. How do you prepare for a short sale? The first step in negotiating a short sale is to list the property for sale. Your lender requires that the property be listed with a Real Estate Brokerage as a condition to short sale approval. Why? Because they want to make sure the property was marketed properly to qualified buyers at the appropriate market value.   Next you'll need to gather all the necessary documents required for review. The documents needed are; ...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
Many people are wondering just exactly where this crazy real estate market is heading and how to anticipate its next move.  Unit sales have dropped and prices are continuing on a downward spiral. In the past three years, we have seen a very hot sellers’ market change to a very cold buyers’ market, but many people do not realize that there are five distinct stages that we must move through to  transition from a buyers’ market back to a sellers’ market. After posting yesterday’s Tallahassee Housing Report, I received a  comment from a colleague who wanted me to cover this very issue, and she wrote: Hi there, been doing this since 1981 and do have lots of past and present clients really interested in your wonderful information. What is hard to convey for me is that even though sales are c...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
  The Tallahassee Housing Market is undergoing a pleasant change right now. Most of the key indicators signal that we might be starting a recovery. Is it due to the fact that we have spent two years selling roughly 50% of the number of homes that our market history sells? Or is it due to the Home Buyers Tax Credit (both the extension of the First Time Homebuyers Program as well as the extension into a program for all)? I think it most likely is a combination of both of these. I also think it is wise to keep track of what is occurring, as we know that there still exists several reasons why our market is not going to “return to normal” for quite some time. Pending Home Sales In Tallahassee Continue To Rise Maybe the most important trend that we can track from the Tallahassee MLS is the da...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
  Home sales in 7 Oaks (Killearn Lakes Unit 3) continue their steady decline from the height of the boom market several years ago. Consisting of 3 and 4 bedroom, single-family detached homes, Seven Oaks has been a very popular family neighborhood in Killearn Lakes for the past 20 years. This seems to be a fairly consistent theme as we perform more of our Tallahassee Neighborhood Reports, both average home prices dropping as well as signs of roughly 20% depreciation in home values since the top of the market. Killearn Lakes Unit 3 Home Sales Decline 71% More and more, we see the number of homes sold in a Tallahassee Subdivision down well over 60%, and in the case of Seven Oaks, home sales are down 71% since the peak of the market. With less than 2 homes sold each month (current trend), i...
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By Carol Palacios
(Century 21 Manausa & Associates)
Joe Manausa | Century 21 First Realty | 850.523.6118 4409 Wigeon Way, Tallahassee, FL 3BR/2BA Single Family House offered at $150,000 Year Built 1986 Sq Footage 1,950 Bedrooms 3 Bathrooms 2 full, 0 partial Floors 1 Parking None Lot Size .39 acres HOA/Maint $0 per month DESCRIPTION This house has so much to offer! Features include grand size foyer that leads to large family room with vaulted ceiling and stone lay fireplace/ New Roof/ Gorgeous wood flooring in most areas/ Good size bedrooms, master has huge walk-in closet and shower/ Spacious dining room with decorative chandler/ Kitchen with new appliances/ Screened patio with built-in ceiling fan/ Gigantic back yard has a huge deck with built in outdoor lamps/ Living room is big enough to be a recreation room and a man cave. The list g...
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By Carol Palacios
(Century 21 Manausa & Associates)
Joe Manausa | Century 21 First Realty | 850.523.6118 9060 Shoal Creek Drive, Tallahassee, FL 5BR/3.5BA Single Family House offered at $599,900 Year Built 2001 Sq Footage 3,700 Bedrooms 5 Bathrooms 3 full, 1 partial Floors 2 Parking 3 Car garage Lot Size .60 acres HOA/Maint $0 per month DESCRIPTION Easy to show. Southern Living at it's finest....with every uprade possible. You will love showing this one. Hardwood floors, bonus room and separate office complete the package. see additional photos below PROPERTY FEATURES - Central A/C - Central heat - Fireplace - High/Vaulted ceiling - Hardwood floor - Tile floor - Family room - Living room - Office/Den - Dining room - Dishwasher - Refrigerator - Stove/Oven - Microwave - Stainless steel appliances - Balcony, Deck, or Patio - Yard ADDITIONA...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
  A good friend and client of mine asked me to give him a quick opinion on the American Clean Energy and Security Act of 2009 (Cap and Trade Act) and to gauge its impact on the real estate market in the coming years. No big deal I figured, I’ll just grab a beer and see what this thing is all about … What I found was disturbing. First of all, that beer needed to be a 12-pack, because the American Clean Energy and Security Act of 2009 is a 1,428 page document written in typical political gobilly gook, with far too many words and noticeably void of any pictures. If you’re really bored, you can download a copy from the sidebar on the Tallahassee Real Estate Blog. Specifically, here are the words found all over the internet that concerned my friend. You won’t be able to sell your home unless...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
  Existing home sales in Killearn Lakes (Unit 2) have dropped 72% from the peak of the market. With home prices historically running about 15% below the average home price in Tallahassee, Unit 2 of Killearn Lakes has been a very popular destination for Tallahassee homebuyers. So why have existing home sales declined in Unit 2 of Killearn Lakes faster than the rest of the market (existing single family detached home sales are down 62% from the peak of the market)? I suspect that the declining market has created value buyers (for those who were/are buyers) due to the glut of supply in the Tallahassee real estate market. This suggests that some areas have priced their homes more aggressively than homeowners in Killearn Lakes Unit 2, and that most likely is why home sales have slowed here f...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
  Existing home sales in Killearn Lakes (Unit 2) have dropped 72% from the peak of the market. With home prices historically running about 15% below the average home price in Tallahassee, Unit 2 of Killearn Lakes has been a very popular destination for Tallahassee homebuyers. So why have existing home sales declined in Unit 2 of Killearn Lakes faster than the rest of the market (existing single family detached home sales are down 62% from the peak of the market)? I suspect that the declining market has created value buyers (for those who were/are buyers) due to the glut of supply in the Tallahassee real estate market. This suggests that some areas have priced their homes more aggressively than homeowners in Killearn Lakes Unit 2, and that most likely is why home sales have slowed here f...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
Something positive occurred in the Tallahassee real estate market during the month of October. It was long awaited, yet one month prior to my prediction made earlier this year, so I am very excited to report REAL PROOF of a housing market improvement in Tallahassee. We finally put a halt to a run of year over year declines in home sales! Previously, the Tallahassee housing market experienced a 39 month run, from July 2006 through September 2009, of year over year home sales declines! October records show more home sales this year than October of last year (242 total home sales this year versus 241 home sales last year). That’s right, we improved by 1 sale during this October versus last October. As paltry as that sounds, it is something the Tallahassee housing market has not experience...
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By Carol Palacios
(Century 21 Manausa & Associates)
Joe Manausa | Century 21 First Realty | 850.523.6118 3428 Garndenview Way, Tallahassee, FL 4BR/2.5BA Single Family House offered at $399,900 Year Built 2003 Sq Footage 1,894 Bedrooms 4 Bathrooms 2 full, 1 partial Floors 1 Parking 2 Car garage Lot Size Unspecified HOA/Maint $0 per month DESCRIPTION Squeeky new feeling. VERY open floor plan. Fourth bedroom/bonus room. Plantation shutters and all the upgrades you expect in new construction. Nice deck, and very private back yard. You will love showing this one. see additional photos below PROPERTY FEATURES - Central A/C - Central heat - Fireplace - High/Vaulted ceiling - Hardwood floor - Tile floor - Living room - Dishwasher - Refrigerator - Stove/Oven - Microwave ADDITIONAL PHOTOS Photo 1Photo 2Photo 3Photo 4Photo 5Photo 6 Contact info: J...
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By Carol Palacios
(Century 21 Manausa & Associates)
Joe Manausa | Century 21 First Realty | 850.523.6118 XXX Register Farm Road, Tallahassee, FL 10 sqft Vacant Land offered at $98,000 Lot Size 10 sqft DESCRIPTION Come live the country life on this beautiful high & dry 10+ acres. Horses and most live stock are allowed, electrical & telephone pole are already on the property. Local schools, shopping centers, parks, trails and restaurants are just a 8 minute drive away. So you can enjoy all the benefits of country living and still be near civilization. Please come see this property in person and while your there don't forget to inhale the fresh country air. see additional photos below ADDITIONAL PHOTOS Photo 1Photo 2Photo 3Photo 4Photo 5Photo 6 Contact info: Joe Manausa Century 21 First Realty 850.523.6118 For sale by agent/broker Equal Op...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
  You always hear the expression that real estate is local, and there certainly is a whole lot of truth to that. Certainly, national interest rates and Obama stimulus money have an affect on a local market, but the reality is that local job growth and local population growth have a whole lot more to do with the housing market than outside influencers. Today, I want to mention two people who are very local to Tallahassee  and are starting to make an impact, both in our local market, as well as upon the national market. I am thinking that the work they are doing could have a wonderful affect on our local job growth and population growth. I have always admired people who could create something from scratch. “Big ideas” people are a dime a dozen, but people who can bring a thought to a tang...
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