Tallahassee, FL Real Estate News

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, FL, 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, FL, 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, FL, 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, FL, 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 Property List 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 reg...
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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, FL, 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, FL, 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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By Eva Armstrong, Environmental Visions
(Environmental Visions)
                                                                                          We are really fortunate here in Florida.  Besides being blessed with great weather most of the year, 1300+ miles of shoreline, (which equates to a lot of beautiful white sandy beaches) and some unusual & unique wildlife (I don't mean the human kind, although we have our share of those too).  We also have an abundance of springs, freshwater rivers and lakes throughout the state, teaming with fish, turtles, and sturgeon (yes, sturgeon!)  Florida is just plain beautiful and loaded with great natural places to visit and things to see.  In fact VisitFLA, our tourist agency has discovered that in the past 3-5 years the visitation interests of our visitors has changed.  It used to be that more people came...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
Realized Gain vs. Recongized Gain Last week, I started a series of blogs on the Internal Revenue Code Section 1031 tax deferred exchange. The blog covered the concept of "like-kind" exchanges and defined the time constraints involved when conducting a 1031 exchange.Today, we'll explore the difference between "recognized gain" and "realized gain." While they sound a lot alike, knowing the difference can give the real estate investor an interest-free loan from the IRS! Additionally, we will define the concept of "boot." So, what do these three terms mean?Realized Gain - This is the amount of gain that the investor made during ownership of the property. The owner calculates this by determining the net sales price (sales price of the property less closing costs) and then subtracts the adjus...
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By Eva Armstrong, Environmental Visions
(Environmental Visions)
Today I am treating you to a story about my sweet, one-eyed, partially domesticated feral cat Squirt.  I inherited him when my best friend passed away VERY unexpectedly while I was a guest in his home.  My house was under construction, three months to go, and my friend kicked the bucket, so to speak, leaving me with Squirt, and two others, all feral.Today Squirt is teaching me patience, and that translates to my real estate clients too!  Patience with them, I mean... not teaching them patience.  So here I am with Squirt - and he really is a squirt.  A small, grey, skinny cat.  Excellent at mice catching!  He is up to 26 in the five years we've been in our home!  (No, not in the house!!!  Out in the high grass by the pond!!!)  Not bad considering the last four were with only one eye!  He...
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By Gene and Rebekah Rivers, The Rivers Team, Broker/Owner
(Keller Williams Town & Country Realty)
Hi all! I wanted to tell you about a great for sale by owner home I just previewed. It is a large 3 bedroom, 2 bath home on just over 5 acres. The wrap around front porch is perfect for enjoying nature in this wooded, tranquil setting. The floorplan is open and bright with a wood burning fireplace as the focal point in the living room. The master bedroom  is huge at 21'x15' and boasts a large walk-in closet and expansive bathroom. There are 2 storage buildings on the property - both with electrity.  All for $309,000. To arrange for a showing please email me at kim@ringtherivers.com or feel free to call me at 508-0261.Happy Selling!
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
With all the talk about real estate nation-wide, I've had plenty of investors asking about the condo market in Tallahassee. More accurately, the condo/townhome market is having it's third-best year ever. Sales are down from the peak of the boom, but they are certainly up from the pre-boom years.As you can tell, the 2006 was awesome for townhomes and condominiums in Tallahassee, but 2007 is almost as good as 2005, which blows away the previous market years. With all the new students coming in to Tallahassee (see previous blog on Florida Prepaid College Program), I think our condo/townhome market will continue to grow for quite some time.  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...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
Since I seem to be going chart and graph crazy lately, I decided to take a look at resales in the Tallahassee Real Estate Market. I was able to gather all the data (not just data from the MLS) to take an accurate look at the resale market in Tallahassee. The following graph was created from that data. Take a look at the graph and come to some conclusions before you go on to the rest of the narrative.Now that you have gone over the graph, did you make some conclusions? Perhaps you're ready to say the resale market is having its worst year since 1998.... and the graph certainly seems to be showing that. But what about the information that is not in the graph?Our "Single Family" residential market has been under attack since 2000 from an invader! This invader is not overtly in the graph ab...
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