Rising Foreclosures In Tallahassee

Posted by Joe Manausa on Tuesday, November 24th, 2009 at 11:17am.

We have been keeping an eye on home foreclosures in Tallahassee for several years now and have warned that a log-jam of homes has been accumulating in the shadow inventory. In today's foreclosure update, we'll look at the location trend of homes that are being added to the "distressed properties" list in the Tallahassee real estate market.

The foreclosure process begins with a lis pendens filing, so we make sure that we track not only the final foreclosure sale, but also the monthly lis pendens filings in Tallahassee. When we construct a real estate graph of these two important concerns, we find the following picture of foreclosures in Tallahassee.

In the graph above, we see that every month there are hundreds of lis pendens filed in Tallahassee, yet the number of foreclosures rarely reaches a level equivalent to a 20% foreclosure rate. As we have discussed in the past, this might mean that up to 80% of the lis pendens filed in Tallahassee in the past two years have yet to be foreclosed upon.

While there will be some people who are able to work themselves out of the situation through a loan modification, early information suggests that less than 5% of distressed property owners in Tallahassee work out a loan modification.

Others will attempt a short-sale, but without lender support, many homes for sale in Tallahassee attempting short sales are just sitting there waiting for a response from the lender. This is how the shadow inventory of homes in Tallahassee continues to grow each and every month.

Foreclosures By Zip Code In Tallahassee

One report we like to take a look at from time to time is the graph of lis pendens, sorted by the property zip code and month that they were recorded. When we look at this report, we find that some areas are getting hit harder than others. Four zip codes, 32301, 32311, 32312, and 32317 have seen 60% growth or more in lis pendens filed this year versus last year.

Lis Pendens Filed Each Year Through October In Tallahassee Florida

Homes For Sale In Tallahassee

By monitoring the condition of homes for sale in Tallahassee, we have noticed that a trend of increased short sale and foreclosure offerings is occurring. The real estate graph below shows that roughly 20% (minimum) of properties fall in the "distressed" categories.

Homes For Sale In Tallahassee

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Recent Lis Pendens Filed In Tallahassee

If you want a complete listing of the lis pendens filed in Tallahassee, you should visit the Distressed Properties section of the Tallahassee Real Estate Web Site. Below is a list of the lis pendens filed for the month of October.

Subdivision/Location Parcel Address SqFt HC Year Built Actual Record Date
KILLEARN LAKES 1639 FLINT RIDGE LN 1,164 1991 10/30/2009
KIRKWOOD 3505 SHARER RD 1,963 1971 10/30/2009
THE LAKES 1309 AIRPORT DR 778 1984 10/30/2009
VENTANAS 2194 DELTA WAY 1,399 2000 10/30/2009
29-01N-01E 1735 MAHAN DR 1,314 1961 10/30/2009
KENTWOOD ESTATES 2320 VINCENT DR 1,409 1973 10/29/2009
KILLEARN ACRES 6501 OMAHA TRL 1,624 1977 10/29/2009
KILLEARN LAKES 8315 CHICKASAW TRL 1,366 1991 10/29/2009
LIVE OAK ESTATES 824 BURNTLEAF LN 1,306 1988 10/29/2009
MANDRELL MANOR 2204 MANDRELL CT 899 1982 10/29/2009
NORTH ADDITION TO TALLAHASSEE 316 W TENNESSEE ST 94,891 1969 10/29/2009
OX BOTTOM MANOR 6304 MALLARD TRACE DR 2,875 1996 10/29/2009
SANDSTONE RANCH 7368 WAGON TRAIL LN 1,404 1996 10/29/2009
02-01S-01W 708 EUGENIA ST 1,338 1929 10/29/2009
CAPITOLA FLA 800 APPLE ST 700 1958 10/28/2009
CAROLINE COURTS 814 ESSEX DR 1,644 1963 10/27/2009
CHATEAU DE VILLE OF TALLAHASSEE 2020 CONTINENTAL AVE 1,000 1967 10/27/2009
COUNTRY CLUB ESTATES 1412 FAIRWAY DR 4,792 1936 10/27/2009
FOUR POINTS ADDITION 210 RIDGE RD 840 1962 10/27/2009
GOVERNORS COURT 3083 JUSTICE LN 988 1990 10/27/2009
HOLLANDALE 615 CURTIS RD 1,686 1983 10/27/2009
KILLEARN ACRES 3051 WHIRLAWAY TRL 1,296 1991 10/27/2009
PINEY-Z 808 EAGLE VIEW DR 2,689 2001 10/27/2009
PLANTATION WOODS 10/27/2009
TRILLIUM 417 SHANTILLY CT 3,242 1981 10/27/2009
WESTOVER TOWNHOMES 4412 WESTOVER DR 1,406 2002 10/27/2009
LAKESHORE GARDENS 140 IVERNIA LOOP 1,662 2001 10/26/2009
SUMMERBROOKE 7665 WILLOW BASTIC CT 2,990 1992 10/26/2009
WAKULLA SPRINGS ACRES 9441 BARTLETT LN 1,596 1992 10/26/2009
30-01S-01E 4768 WOODVILLE HWY 160,908 2006 10/26/2009
30-01S-01E 4768 WOODVILLE HWY 160,908 2006 10/26/2009
APALACHEE RIDGE 721 MILLARD ST 1,174 1991 10/23/2009
ARVAH BRANCH 6505 PICKFAIR CT 2,324 1992 10/23/2009
BROOKWOOD TRACE CONDO 2014 MIDYETTE RD 1,368 2005 10/23/2009
CAPITAL HEIGHTS 422 W 5TH AVE 936 1956 10/23/2009
HIGH OAKS 4921 OUTLOOK CT 1,871 1997 10/23/2009
LAFAYETTE ESTATES 2002 VINELAND DR 2,218 1988 10/23/2009
OAK RIDGE PLACE 4522 DESLIN CT 1,438 2005 10/23/2009
SANDSTONE RANCH 1669 TRAILBLAZER DR 1,300 2006 10/23/2009
SIERRA WOODS 8281 SIERRA WOODS DR 2,438 2005 10/23/2009
SUMMERBROOKE 1412 CONSERVANCY DR E 2,904 2002 10/23/2009
WHITE ACRES 2321 AMELIA CIR 1,187 1950 10/23/2009
WOLF CREEK 1744 COREY WOOD CIR 1,344 2005 10/23/2009
WOODVILLE ACRES 2071 HICKORY LN 1,040 1979 10/23/2009
03-01S-01W 2315 JACKSON BLUFF RD 108,560 1972 10/23/2009
05-01S-01E 1524 MYRTLE DR 912 1961 10/23/2009
26-01N-01W 1015 DELAWARE ST 1,056 1999 10/23/2009
CHARLESTON SQUARE TOWNHOMES 2499 NUGGET LN 1,212 1992 10/21/2009
COUNTRY CLUB ESTATES 1412 FAIRWAY DR 4,792 1936 10/21/2009
EDINBURGH ESTATES 4288 SHERBORNE RD 1,792 1979 10/21/2009
SUMMERBROOKE 7757 CRICKLEWOOD DR 2,678 1997 10/21/2009
24-01N-01E 1200 PEDRICK RD 3,529 1989 10/21/2009
APALACHEE HILLS 1601 QUAZAR RD 1,173 2006 10/20/2009
APALACHEE HILLS 1603 QUAZAR RD 1,173 2006 10/20/2009
BLOXHAM HEIGHTS 1606 LEVY AVE 1,072 1963 10/20/2009
CENTERVILLE 6000 BROOKFAIR LN 10/20/2009
HERRING 2850 SUN VALLEY CT 990 1994 10/20/2009
KILLEARN ACRES 5331 BEN BRUSH TRL 1,432 1984 10/20/2009
KILLEARN ESTATES 2820 SHAMROCK ST N 2,732 1972 10/20/2009
KILLEARN LAKES 2225 TUSCAVILLA RD 1,359 1997 10/20/2009
PINERIDGE ESTATES 1409 WESTHEAVEN DR 1,112 1977 10/20/2009
SAXON NORTH-WEST ADDITION 803 DELAWARE ST 1,032 1962 10/20/2009
SCENIC HEIGHTS 1812 MEDART DR 1,305 1968 10/20/2009
SOUTHWOOD 3068 DICKINSON DR 10/20/2009
SOUTHWOOD 3154 BARINGER HILL DR 3,634 2004 10/20/2009
THE LAKES 1325 AIRPORT DR 1,083 1984 10/20/2009
WOODBRIAR 3337 WOODBRIAR LN 1,610 2006 10/20/2009
WOODRUN EAST 8080 TALLY ANN DR 1,262 1996 10/20/2009
WOODSIDE HEIGHTS 808 SHANNON ST 996 1971 10/20/2009
03-01S-01E 1328 IDLEWILD DR 1,352 1953 10/20/2009
03-01S-01E 1330 IDLEWILD DR 1,586 1963 10/20/2009
26-01N-01W 725 ALABAMA ST 1,108 1970 10/20/2009
ADAMS PLACE CONDOMINIUMS 3000 S ADAMS ST 1,037 2005 10/16/2009
CHASE'S RUN 2740 W THARPE ST 1,212 2005 10/16/2009
DRY CREEK RUN 3586 JIM LEE RD 1,300 2006 10/16/2009
HUNTINGTON SOUTH FLAG LOTS 2967 BYINGTON CT 936 1983 10/16/2009
KILLEARN ESTATES 2632 BANTRY BAY DR 2,300 1977 10/16/2009
PARKHILL 4104 SCARLETT DR 988 1971 10/16/2009
SABLE CHASE 8433 IVY BROOK LN 1,709 2005 10/16/2009
THE TIMBERS TOWNHOMES 2247 SHADY TIMBERS CIR 987 1980 10/16/2009
VILLAGES AT WILSON GREEN 322 WILSON GREEN BLVD 1,198 2006 10/16/2009
KILLEARN LAKES 2273 TUSCAVILLA RD 1,726 1988 10/15/2009
SOUTHWOOD 3252 THOREAU AVE 2,582 2007 10/15/2009
WOLF CREEK 1627 COREY WOOD CIR 1,744 2005 10/15/2009
ARROWHEAD ESTATES 1286 JEFFERY RD 1,692 1978 10/14/2009
MABRY MANOR 2714 RIDGEWAY ST 1,152 1962 10/14/2009
MERIDIAN HEIGHTS 512 WILLIAMS ST 4,166 1927 10/14/2009
RICHLAND 1203 RICHVIEW RD 1,444 1968 10/14/2009
THE TIMBERS TOWNHOMES 792 TIMBERWOOD CIR E 1,280 1994 10/14/2009
THE TIMBERS TOWNHOMES 787 TIMBERWOOD CIR E 1,268 1993 10/14/2009
BENT TREE ESTATES 4120 HENIARD DR 1,604 1977 10/13/2009
MEADOWBROOK 747 RIGGINS RD 1,600 1983 10/13/2009
SOUTHWOOD 3773 OVERLOOK DR 2,580 2003 10/13/2009
AUGUSTINE PROP 4422 BUTTERCUP WAY 1,949 2001 10/12/2009
GWYNNDALE 1709 TALPECO RD 1,074 1970 10/12/2009
KILLEARN LAKES 13016 GOPHER WOOD TRL 2,187 1990 10/12/2009
LAKESIDE 4448 COOL EMERALD DR 1,500 1995 10/12/2009
LAKEWOOD 3507 SOUTHLAND DR 1,986 1973 10/12/2009
LAKEWOOD 3515 LAKEWOOD DR 864 1958 10/12/2009
LIBERTY RIDGE 8831 FLICKER RD 924 1986 10/12/2009
SOUTHWOOD 4115 KIPLING CT 2,368 2006 10/12/2009
THE TIMBERS TOWNHOMES 2215 TIMBERWOOD CIR N 1,019 1981 10/12/2009
WOLF CREEK 1941 NENA HILLS DR 1,344 2005 10/12/2009
BOND SOUTH 2002 SAXON ST 504 1967 10/8/2009
LAKESIDE 4349 COOL EMERALD DR 1,445 1998 10/8/2009
PINE LANDING 2267 PINE LANDING CT 1,284 2001 10/8/2009
PLANTATION OF TALLAHASSEE PECAN 1912 NANI DR 1,388 1972 10/8/2009
REXWOOD 2915 OAKWOOD DR 952 1969 10/8/2009
ROCKBROOK 3600 PICKETT CT 2,518 1978 10/8/2009
SOUTHWOOD 3611 MOSSY CREEK LN 10/8/2009
THE TIMBERS TOWNHOMES 696 TIMBERWOOD CIR E 1,092 1992 10/8/2009
WOLF CREEK 1945 NENA HILLS DR 1,344 2005 10/8/2009
03-01S-02E 9653 SAND DOLLAR LN 1,976 2000 10/8/2009
20-02S-01E 1905 AMBUSH RD 1,008 1949 10/8/2009
APALACHEE HILLS 1599 QUAZAR RD 1,173 2006 10/7/2009
BOND SOUTH 2141 KEITH ST 770 1963 10/7/2009
CENTERVILLE PLANTATION 10461 CENTERVILLE PLANTATION RD 1,017 1987 10/7/2009
COPPER CREEK 1227 BRECKENRIDGE RUN 1,092 1989 10/7/2009
GRIFFIN COLLEGE HEIGHTS 1115 BASIN ST 2,040 1954 10/7/2009
HERITAGE WOODS 327 STARMOUNT DR 1,838 1969 10/7/2009
KILLEARN ESTATES 3530 DUNDALK DR 1,766 1987 10/7/2009
RESIDENCES AT WHISPERING PINES C 2731 BLAIRSTONE RD 1,023 1972 10/7/2009
SILVER LAKE AKA BABY FARMS ADD 8004 EARTH WAY 1,616 1982 10/7/2009
SUMMERBROOKE 7502 REFUGE RD 2,986 1996 10/7/2009
THE MEADOWS 8288 LITTLE TERRY CIR 1,138 1991 10/7/2009
WESTBURY 3828 MCFARLANE DR 1,656 1994 10/7/2009
WOODBRIAR 3089 SAWTOOTH DR 1,338 2005 10/7/2009
26-02N-01E VELDA DAIRY RD 10/7/2009
APALACHEE RIDGE 700 COBLE DR 1,012 1959 10/6/2009
BARRINGTON PARK CONDO 2801 CHANCELLORSVILLE DR 1,272 2004 10/6/2009
CENTERVILLE PLANTATION 10465 CENTERVILLE PLANTATION RD 1,017 1987 10/6/2009
LOS ROBLES 1665 FERNANDO DR 1,603 1931 10/6/2009
MATTHEWS SUB 4059 EDGEWATER DR 1,690 2005 10/6/2009
VILLAS OF WESTRIDGE 2196 SANDPIPER ST 928 1983 10/6/2009
WOODBRIAR 3258 SAWTOOTH DR 1,338 2005 10/6/2009
20-02N-02E 6639 WILD FERN LN 1,842 2002 10/6/2009
BRIGHTON PLACE CONDO 1575 PAUL RUSSELL RD 1,705 2006 10/5/2009
HADLEY CROSSING 2370 HADLEY CROSSING CT 10/5/2009
KILLEARN ACRES 6711 ALAN A DALE TRL 1,360 1983 10/5/2009
LAUREL TRACE 2605 FENWOOD CT 1,687 2006 10/5/2009
LEE MANOR UNITS 1, 2, 6 1012 TANNER DR 2,065 1959 10/5/2009
LINCOLN HEIGHTS 1104 VOLUSIA ST 888 1950 10/5/2009
LINWOOD MANOR 2503 HELENE LN 1,421 1972 10/5/2009
MABRY OAKS 2706 VAN FLEET ST 1,232 2001 10/5/2009
MERIDIAN PARK 3015 GROVE ST 988 1964 10/5/2009
OX BOTTOM 7225 OX BOW CIR 5,834 2004 10/5/2009
OX BOTTOM MANOR 6266 HINES HILL CIR 2,123 1992 10/5/2009
PECAN GROVE ESTATES 3571 FRED GEORGE RD 1,128 1990 10/5/2009
PLANTATION OF TALLAHASSEE PECAN 3700 N MONROE ST 1,248 1984 10/5/2009
SAN MATEO 1809 HARTSFIELD RD 960 1981 10/5/2009
SHADYWOOD 4400 BRIGHT DR 948 1983 10/5/2009
STARVIEW 233 NABB RD 1,677 2005 10/5/2009
VILLAGE SQUARE TOWNHOUSES 1515 PAUL RUSSELL RD 1,475 1975 10/5/2009
CENTERVILLE TRACE 4009 HARPERS FERRY DR 1,685 1993 10/1/2009
SUMMERCHASE CONDOMINIUMS 4434 GEARHART RD 1,344 2007 10/1/2009
12-01N-01W 3210 SPRINGDALE DR 1,455 2001 10/1/2009

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Joe Manausa is a real estate blogger, a real estate investor and the Broker-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.

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.

2 Responses to "Rising Foreclosures In Tallahassee"

william jenkins wrote: what's up with property at 233 Nabb Rd. How's the mortgage being paid?

Posted on Thursday, June 23rd, 2011 at 11:44am.

Joe Manausa, MBA wrote: William, I'm not sure that I understand your question.

Posted on Friday, June 24th, 2011 at 9:26am.

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