Every month, we update our Distressed Properties Page on the Tallahassee Real Estate Web Site with all the new lis pendens filings in order to see how the distressed properties are affecting the Tallahassee housing market. Unfortunately, both lis pendens filings as well as foreclosures in Tallahassee are on the rise.
Today, we'll take a look at two real estate graphs that demonstrate the growth of lis pendens and foreclosures in Tallahassee. We have observed lis pendens rising for quite some time, now we're finally seeing the foreclosures following suit.
Tallahassee Foreclosures On The Rise
The real estate graph below shows that Tallahassee has seen a gradual rise in lis pendens filed every month last year, while foreclosures have only been averaging about 6 per month until this year. February shot way up with 18 foreclosures.
Tallahassee Lis Pendens Filings Continue To Grow
We can see that January and February filings of lis pendens in Tallahassee are well above the average month from last year. From everything that I've been reading about the national housing market, this seems to parallel what has been going on elsewhere. I suspect we'll be seeing a continued rise in both lis pendens filings as well as Tallahassee foreclosures.
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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.