Distressed Property List Growing In Tallahassee MLS

Posted by Joe Manausa on Thursday, February 25th, 2010 at 11:45am.

A distressed property search of the Tallahassee MLS (short sales, foreclosures, bank owned or relocation) shows that 22% of the active listings are in this category!

The number of homes labeled as "Distressed Property" continues to grow in the Tallahassee real estate market. A quick search of the Tallahassee MLS for homes that are short sales, foreclosures, bank owned or relocation shows that 22% of the active listings for condos, townhouses, and single family homes are in this category!

If you want to see some “immediate” distressed properties, check out our “Short Sales” page at http://www.manausa.com/foreclosures/tallahassee-short-sales. This is a rapidly growing list and often times contains better buys than homes that have already been foreclosed upon. These homes are marketed through superior search engine optimization and thus are sold very fast!

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Distressed Property In Tallahassee

If you are interested in distressed properties for sale in Tallahassee, you certainly do not have to view all 545 in the Tallahassee MLS. It would be wiser to focus on a price range that you feel most comfortable with and go from there. The following real estate graph shows how the distressed properties are distributed in the Tallahassee MLS.

Distressed Property Image Tallahassee Florida

I found it interesting that the heart of the distressed property list was to be found in our affordable and median price ranges. It is easy for us to assume people bought too much home, but the facts show that our real estate problems are spread out among normal homeowners inside of our traditional price ranges.

Where Can You Find A Distressed Property In Tallahassee?

One question that always surfaces with an inexperienced home buyer relates to the availability for foreclosures and short sales. The following map shows how the distressed properties in Tallahassee are disbursed through Leon County.

The interesting observation from the graphs above is that we know more than 1/2 of the sales are occurring in Northeast Tallahassee, but less than 1/3rd of the distressed properties are located there. I'm wondering if this abundance of distressed properties on the western side of Tallahassee will have an effect on moving trends, or if the recovery period for the west will just take that much longer. Time will tell.

Great Tallahassee Real Estate Resources

Distressed Wife In Tallahassee :)

If you happen to run into my wife (Michelle) today, please wish her a happy 15th Anniversary! I cannot put into words how lucky I am to be married to her.

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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