As we go into the Fathers Day Weekend, I thought I would do a quick check on home sales in Tallahassee to see if anything new was shaking. If you have been following the Tallahassee Real Estate Blog for any time, you know that we have been tracking the changes in Tallahassee home inventories here on nearly a daily basis.
We know we must see a change in home buyer activity in Tallahassee before the market change can occur. With some great programs that have been launched to provide free money for first time homebuyers, we were hoping that we would start to see some measurable results by mid-July. Also, with the proposed $15000 Federal Tax Credit For All Home Buyers, we really believe the breakout could occur really soon.
But what are buyers doing today?
Tallahassee Home Buyers Still Pondering Purchase
The home buyers in Tallahassee are still moving slowly. The following real estate graph measures home sales for the trailing 365 days and shows the daily average of home sales in the Tallahassee MLS. As you can see, we are still looking for the bottom of the hole...
Tallahassee Home Buyer Trend Will Turn Before November
The benefit of receiving a free $8000 Tax Refund from Uncle Sam is going to entice a lot of first time homebuyers to step forward. It's like an insurance policy against a home losing value by up to $8000, and we are already starting to see savvy buyers come forward to learn more about how they can take part in this government bailout program. Don't forget, if the home purchase closes after November, the buyer will not be qualified for the $8000 Federal Tax Credit.
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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.