Tallahassee, FL Real Estate News

By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
To Sell A Home In Tallahassee - Seller Must Optimize Exposure I have been writing this blog while examining the Tallahassee Real Estate Market in depth. While a few readers have had differing opinions that they have shared, it seems that we all agree that inventories are at very high levels right now. This is a normal cyclic event, but it is important to understand what a homeowner needs to do to sell a home in Tallahassee under the constraints of today's market conditions.The first thing one must have when deciding to sell a home in Tallahassee is a good understanding of the underlying market conditions. After all, a home placed into the market must compete with other similar homes. Knowing the overall market, as well as the competing market, is a great starting point.This first chart ...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
HOW DO YOU PERPETUATE YOUR PROFESSIONALISM? Okay, quick show of hands.  Who here considers themselves to be a professional? Good. Now, who here would say that they consider the majority of their fellow REALTORS as professionals? Hmmmm... What constitutes a professional anyway? One definition is "a person who is an expert at his or her work." And how does one become an expert at his or her work? I would submit that experience and knowledge are certainly important ingredients.  I think we all can agree that the basic REALTOR's licensing course is a far cry from the be-all and the end-all of professional education. And while required continuing education courses are a good practice, they are hardly enough to build expertise. More education and training is clearly required for anyone to con...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
Have you ever considered moving to a new school zone for your children, but did not know what the average price of a home in that zone would cost? Well, if you have, than today's blog will be perfect for you. I charted home sales in the Tallahassee Real Estate Market by school zone. I have them separated by High School, Middle School and Elementary School. There were so many Elementary Schools that I broke them down to 2 different charts.We can see that if the highest average price for a home was in the Chiles High School zone, while the lowest average price was in the Godby High School zone. Obviously, we expect to see similar results from the zones in the Middle Schools that correspond to the above High School zones. For the Middle Schools, Deerlake Middle School had the highest avera...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
Leon County's NE Quadrant Dominates The MLS Sometimes a picture tells a thousand words. After preparing yesterday's blog in which I was startled to see a downward trend on units sold in Area 1 (Northeast Quadrant) of the Leon County Real Estate Market, I decided to take a look at all MLS activity and to create a picture of what we have been selling, and where.  This chart demonstrates that out of the 52,944 sales in the MLS, more than 37% of those came from the Northeast Quadrant of Leon County! Considering the MLS has a record of sales for Leon County, Jefferson County, Wakulla County, Franklin County, Gadsden County and even an "other county," you can see how strongly the Northeast Quadrant of Leon County has dominated our market. About The Author   As Broker and Co-Owner of Century 2...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
Leon County sales trends In an effort to find out what parts of the Tallahassee Real Estate Market are growing and changing, I downloaded all of the sales that are maintained in the Tallahassee Board of Realtors Multiple Listing Service (MLS). The existing database has sales that date back to August of 1999.The following chart shows that volume of sales in Northeast Leon County, Northwest Leon County, Southeast Leon County, and Southwest Leon County. It really did not show me any surprises. Due to appreciation and growth, the linear trend of the volume in each quadrant of the county is rising.  I performed the same analysis, but focused on units sold, rather than total sales volume. This definitely had one surprise in store for me. Areas 2 through 4 in Leon County have a growing unit tr...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
Here I sit, writing my simple blog on the Tallahassee Real Estate Market, expressing my views as many others do when writing blogs on their own subject matter. Now understand, I am writing on a subject in which I have 17 years of experience, so it is not like I'm discussing the mission to Mars or anything. I am definitely staying within the bounds of my education, experience, and understanding.So, why do I bring this up? Yesterday, I wrote a blog explaining how somebody who is looking to move-up in the Tallahassee Real Estate Market can actually gain in a depreciating market. While I kept it very simple in order to get the basic point across, I had a reaction from a reader that struck me as very odd. Or should I say very confused. This opinionated reader, who goes by the name "anonymou...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
New Construction In The Tallahassee Real Estate Market One bit of data that I pull every month is the Leon County Single Family Permit and Sales figures. We can look at the relationship between sales and permits to determine how new construction inventories are doing. We can also track trends. The following chart represents a 12-month trend of new construction permits and sales in the Tallahassee Real Estate Market. The chart shows us that the trend from August, 2005 until March of this year, we have been permitting more homes than we have been selling. Since April though, we have sold 75 more homes than we have permitted. This appears to be a change in the trend after nearly two years of building more homes than the market could bear. One must remember that this is only new constructio...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
Is this a move-up market? Yesterday we had someone wanting to buy a home in Tallahassee come in to the office for a consultation. She was concerned that with everything she has read in the paper and online about the "soft real estate market", that maybe it was not the right time for her to move from her townhouse into a single family home. She could not have been more wrong.She purchased a townhouse in Tallahassee in 2001. She has not refinanced it. We were able to show her something that amazed her!First of all, as most young people do, she put no money down when she purchased her townhouse in 2001 for $82,500. Today, that same property will sell for $145,000 to $150,000. That means with no money down, she now has $60,000 worth of equity (that includes her paying closing costs when she...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
Every month I report on the average prices in the Tallahassee Real Estate Market. With the September numbers now completed, we see that our average prices are holding pretty well, with the exception of lot sales. The key to remember is that we have come through a booming market and we expected to see prices softening. To give this some perspective, take a look at how prices are this year versus previous years. Category 2006 2005 2004 2003 2002 2001 Average Single Family -0.2% 10.7% 27.9% 41.0% 58.2% 67.2% Average Condo/Townhome -3.0% 10.0% 36.9% 64.6% 86.1% 81.0% Mobile/Manufactured Homes -4.2% -11.2% 16.8% 21.2% 46.3% 57.2% Residential Lots -23.1% 11.1% 40.9% 49.3% 105.9% 71.5% This table shows us that prices now are less than 1 percent down on Single Family homes versus 2006. But vers...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
I figured a great way to start a new week would be to discuss the concept of seasonality. The Tallahassee Real Estate Market, like any other industry or market, experiences different levels of sales during the different times of the year. This effect is known as Seasonality. We measure seasonality in order to predict the levels of sales we should expect each month. This is very helpful for budgeting in the Tallahassee Real Estate Brokerage Business, but it is also helpful when trying to predict how current market conditions are going to play-out over the next few months. The following table shows, as a percentage of annual sales, how the sales occur over the course of a typical year. These figures were calculated by using the sales in the Tallahassee Real Estate Market over the past fiv...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
Here is a quick update of year versus year by property types for the Tallahassee Real Estate Market. I have tracked Single Family sales (annotated by SF) and Condo/Townhome Sales (Annotated by CT). As you can see, each month this year has been lower than its corresponding month from last year. The total market is down about 28%. Subscribe to this Blog: Joe Manausa, MBA, CRB, CRS | Broker / Owner | Century 21 First Realty 2365 Centerville Road | Tallahassee, Florida 32308 | 850-386-2001 | http://www.manausa.com/
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
Getting Your Tallahassee Home Sold In Today's Real Estate Market Many times a home owner, when trying to sell a home in Tallahassee, is given ideas by many family members, friends, business acquaintances, Realtors, Builders and others in their life about what they need to do to sell a home. In order to best "show" what is needed to be done, I have a few charts that will demonstrate better than words can say. Anyone who has taken business courses, or specifically marketing courses, can tell you that there are four key aspects of bringing a product to the market (and if you want to sell a home in Tallahassee, you are bringing a product to the market!). They are: Pricing Mix (The Price the Tallahassee home owner sets) Promotional Mix (The Work that the Real Estate Company performs) Product...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
Northeast Tallahassee - Inventory Levels Not So Bad The Northeast quadrant of Tallahassee (Area 1 in the MLS) has shown to have the best response to the current market. It has been the least affected area in Leon County in terms of the number of homes that are selling, so I decided to look and see how each Subdivision was doing. Not surprisingly, many of its subdivisions were not doing bad at all, while many that still have new construction were a bit sluggish. Subdivision Sales For Sale Months Supply 2 Years Ago Last Year Grand Total 1939 1657 1229 8.9 Killearn Lakes 140 115 69 7.2 Killearn Estates 134 104 60 6.9 Killearn Acres 77 62 37 7.2 No Subdivision 56 51 67 15.8 Golden Eagle 64 43 58 16.2 Piney Z 70 52 37 8.5 Bull Run 46 43 20 5.6 Summerbrooke 41 39 25 7.7 Weems Plantation 48 17...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
High End Homes In Tallahassee Yesterday I reported on affordable housing in Tallahassee, so today I will cover the other end of the market. For this research, I included all areas of the Tallahassee Board of Realtors Multiple Listing Service (Leon, Jefferson, Gadsden, Franklin and Wakulla Counties). The upper end of the Tallahassee Real Estate Market has definitely seen better times. The inventory levels are approaching three years at the highest end of the market. These numbers are certainly skewed by the fact that coastal properties are included in the totals. Homes priced from $500,000 to $600,000 have roughly 21 months of supply. Supply jumps when we look at the $600,000 - $700,000 price range to approximately 31 months, while the "over $700,000" part of the market is nearly 34 mont...
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By Eva Armstrong, Environmental Visions
(Environmental Visions)
We made it home, safe and sound though a bit tired after 9 days on the road.  I promised two things - a trip wrap up with pictures with which will come in the final blog (or tomorrow - I have to pick up my pictures), and my last reflections on the interesting differences in real estate activity I noticed while driving through North Florida, Georgia and North Carolina.                                  Once again I need to state clearly, this was NOT a scientific study.  Just the first hand observations of a real estate professional as she drove through mostly rural, though some towns throughout Georgia (we avoided any of Metro Atlanta - no need so didn't go there) and the Smoky Mountains of North Carolina almost to the Virginia border.    My observations were prompted when the frequency ...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
Affordable Housing In The Tallahassee Real Estate Market A reader asked me to do an update on affordable housing in the Tallahassee Real Estate Market. I utilized the entire MLS database (including Leon, Wakulla, Jefferson, Gadsden and Franklin Counties) in order to find all the subdivisions that have had a sale in the past year, or currently has a home for sale at or below $170,000. Believe it or not, there are 827 Subdivisions in the Tallahassee Real Estate Market and surrounding counties that have homes priced at or below $170,000. The following table shows the most active 100 Subdivisions, with the number of homes for sale, the number of homes sold in the past year, and the months of supply available. Count Subdivision Units Months Supply For Sale Sold   Grand Total 1958 2496 9.4   ...
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By Carol Palacios
(Century 21 Manausa & Associates)
Interior home improvement projects can include anything from remodeling, repairing or maintenance work within any area of your home from the attic right down to your basement and garage. A common remodeling area is the kitchen. Other common areas that many choose to remodel are the bathroom and bedrooms of the home.Upgrades to your home are things you‚Äėll enjoy year-round. Economic advisors agree that an investment in your home through renovation is a wise move, as they can increase the resale value of your property if you should choose to sell. If you‚Äėre considering any renovations, sit down and ask yourself some simple questions before undertaking a project. Am I happy where I am? Do I plan on staying in this house awhile? Is this renovation really necessary? Certainly, every house req...
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By Eva Armstrong, Environmental Visions
(Environmental Visions)
At a time when at least two of our fifty states are in dire straits from severe drought conditions - the worst droughts in their states' histories, what a wonderful time to consider a RAIN BARREL as a closing gift for your residential customers!!!  The ones in the picture to the right are actually three separate barrels that have been connected to triple the amount of water collected for this building!  You don't need to give three to your customer - one will do.The drought in North Carolina has gotten so bad Governor Easley issued a press release on October 22nd declaring "Operation Halve-It."  He is asking EVERY citizen in the state to cut their use of water in half for everything they do!  You can click on the link below to see the details of the program and the suggestions for reduc...
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By Eva Armstrong, Environmental Visions
(Environmental Visions)
Oh, no....Pouring rain at 6:15 am....     Well, we get up at 7, and decide we'll take our time (right, my aunt is on a schedule, you can set your watch by it!).... And we hit the road at 9am as usual... We finished the first 50 miles in rain and fog, much differently from the way we started them.  We had occasional glimpses of color:  brilliant flashes of orange, yellow, reds and burgundy.  But the sun was not going to come out until we were well south of the Parkway.  As we continued south on Hwy. 441 I was able to reassess my original observations on the real estate signs, or lack thereof.  It was pretty much as I remembered.  As we drove off the Parkway but continued the drive down out of the mountains of NC, there was a scattering of sales signs for residences as we passed through s...
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By Eva Armstrong, Environmental Visions
(Environmental Visions)
We wake up to serious fog - or at an elevation of 5000 - serious clouds!  I could hardly see to drive!  So it was slow driving, and the wonderful colors we had been enjoying cast a faint glow overhead.Aunt G decided it was best, given the weather forecast for rain over the next two days for us to turn back and head for home.      It was slow going most of the day and few drivers other than us.  We had a couple of bright spots, and I got in a wonderful 50 minute hike up to the Erwin View of Linnville Falls.  I tried to get some exercise each day; eight hours in a car can get old!The trees had been changing colors and were noticeably more colorful as we passed  by the second time... funny how that happens!                                        We finally decided we'd had enough of fighti...
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