One In Four Home Sales Is A Distressed Property

Posted by Joe Manausa on Friday, August 28th, 2009 at 11:31am.

Transaction Types In Tallahassee Home SalesThe newest data has just arrived for home sales in Tallahassee, so I figured now was a good time to update the Tallahassee Subdivision Report. While I do this report every month, this will be the first time that I separate the "arms length" sales from the non arms length sales.

Just as a reminder for readers who have seen our earlier blogs on arms length sales, these are which are freely entered into by parties who don't have a special relationship or control over one another. An arm's length sale is indicated by the fairness of price, conditions, and other terms of the agreement. For example, an agreement between relatives or sales involving a deal on the side may not be considered an arm's length sale because they may not reflect the true value of the deal.

Most Active Neighborhoods Have Distressed Property Sales

As you can see from the real estate graph below, most of the top 20 active neighborhoods in Tallahassee have their fair share of non-arms-length home sales.

Tallahassee Subdivision Report

Tallahassee Subdivision Report - August 2009

Every month we post the Tallahassee Subdivision Report, but this month we did so with a twist. Sales in each subdivision were broken down into "arms length" and "non arms length" sales.
Subdivision Arms Length Not Arms Length Grand Total Distressed %
SOUTHWOOD 90 13 103 13%
KILLEARN LAKES 74 19 93 20%
KILLEARN ESTATES 64 7 71 10%
KILLEARN ACRES 46 6 52 12%
PINEY-Z 34 8 42 19%
BULL RUN 29 7 36 19%
SUMMERBROOKE 26 2 28 7%
WOODBRIAR 9 18 27 67%
PARK CHARLESTON 17 9 26 35%
PEBBLE BROOKE 25 1 26 4%
GOLDEN EAGLE PLANTATION 17 7 24 29%
GLEN AT GOLDEN EAGLE 15 8 23 35%
WEEMS PLANTATION 20 3 23 13%
OX BOTTOM MANOR 13 4 17 24%
BETTON HILL 15 2 17 12%
INDIAN HEAD ACRES 16 1 17 6%
PLAZA TOWER CONDO 17 0 17 0%
RIVER'S LANDING 17 0 17 0%
VILLAGES AT WILSON GREEN 2 14 16 88%
HAMPTON CREEK 16 0 16 0%
WOLF CREEK 9 6 15 40%
MEADOWS AT WOODRUN 10 5 15 33%
VILLAGES OF MACLAY T/H 11 4 15 27%
BRIGHTON PLACE CONDO 13 2 15 13%
CAPITAL HILLS 13 2 15 13%
CAMELOT PARK 14 1 15 7%
WAVERLY HILLS 9 5 14 36%
SETTLERS CREEK 13 1 14 7%
AUTUMN WOODS 7 6 13 46%
EASTGATE 7 6 13 46%
MELODY HILLS 9 4 13 31%
ASTORIA PARK 10 3 13 23%
PLANTATION WOODS 11 2 13 15%
MONTEJO 13 0 13 0%
TOWNSHIP ONE NORTH 3 9 12 75%
FOREST HEIGHTS 8 4 12 33%
SCOTSWOOD TOWNHOMES 8 4 12 33%
LAKESHORE ESTATES 9 3 12 25%
TIMBER LAKE REPLAT 9 3 12 25%
ARBOR HILL 10 2 12 17%
DRY CREEK RUN 10 2 12 17%
HOLLY HILLS 10 2 12 17%
TOWN 'N COUNTRY PARK 11 1 12 8%
VILLAS AT PINE FOREST 12 0 12 0%
GRIFFIN COLLEGE HEIGHTS 2 9 11 82%
AVONDALE 9 2 11 18%
HUNTINGTON WOODS 9 2 11 18%
KILLEARN COMMONS 9 2 11 18%
MEADOWBROOK 9 2 11 18%
TALLAHASSEE HIGHLANDS 4 6 10 60%
RENEGADE CONDOMINIUM 5 5 10 50%
PLANTATION OF TALLAHASSEE PECAN 6 4 10 40%
SEMINOLE MANOR 7 3 10 30%
THE TIMBERS TOWNHOMES 7 3 10 30%
APALACHEE HILLS 8 2 10 20%
STONEY CREEK CROSSING 8 2 10 20%
SAVANNAH CROSSING CONDOMINIUM 9 1 10 10%
SUMMERCHASE CONDOMINIUMS 9 1 10 10%
TOWER OAKS 10 0 10 0%
ELBERTA EMPIRE 1 8 9 89%
CRESCENT HILLS 5 4 9 44%
WOODGATE 6 3 9 33%
GOOSE CREEK 7 2 9 22%
LAKE JACKSON HEIGHTS 7 2 9 22%
LAKEWOOD VILLAGE 7 2 9 22%
SCENIC HEIGHTS 7 2 9 22%
CHATEAU LAFAYETTE TOWNHOMES 8 1 9 11%
GLENDALE 8 1 9 11%
GROVES AT SUMMERBROOKE 8 1 9 11%
MYSTIC WOODS CONDO 8 1 9 11%
WOODLAND DRIVE 8 1 9 11%
TALCO HILLS 2 6 8 75%
KILLEARN ESTATES UNIT 28 3 5 8 63%
34-01N-02E 4 4 8 50%
DEERFIELD PLANTATION 5 3 8 38%
MABRY MANOR 5 3 8 38%
NATURAL WELLS 5 3 8 38%
BRADFORD MANOR 6 2 8 25%
CAROLINE COURTS 6 2 8 25%
PARK BROOK CROSSING 7 1 8 13%
PINE TIP HILLS 7 1 8 13%
WESTWOOD CONDOMINIUM 7 1 8 13%
APALACHEE EAST 8 0 8 0%
CHASE'S RIDGE 8 0 8 0%
FOXCROFT 8 0 8 0%
OBSERVATION POINTE 8 0 8 0%
TERRENCE HEIGHTS 8 0 8 0%
AUGUSTINE PROP 3 4 7 57%
PALMS WEST CONDOMINIUM 3 4 7 57%
PREAKNESS POINT 3 4 7 57%
HARTSFIELD WOODS 4 3 7 43%
HOMESTEAD RIDGE 4 3 7 43%
BLAIRSTONE FOREST 5 2 7 29%
PARKSIDE 5 2 7 29%
SUNNILAND TERRACE 5 2 7 29%
VILLAS OF WESTRIDGE 5 2 7 29%
EDINBURGH ESTATES 6 1 7 14%
HARTSFIELD VILLAGE 6 1 7 14%
ROYAL OAKS 6 1 7 14%
RUSSELL'S POND 6 1 7 14%
THE LAKES 6 1 7 14%
BRECKENRIDGE ON PARK 7 0 7 0%
GOVERNOR'S INN CONDOMINIUM 7 0 7 0%
LAKESIDE 7 0 7 0%

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Joe Manausa is a real estate blogger, a real estate investor and the Broker and Co-Owner of Joe Manausa Real Estate. He can be reached via e-mail through the Tallahassee Real Estate Website or catch his latest writings on the Tallahassee Florida Real Estate Blog , or by calling (850) 386-2001.

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Joe Manausa, MBA is a 26 year veteran of real estate brokerage in Tallahassee, Florida and has owned and managed his own company since 1992. He is a daily blogger with content that focuses on real estate analytics and providing his clients with a tactical advantage in today's challenging market.

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