Comments on: Home Sales In Tallahassee’s Hottest Neighborhoods

By: Killearn Lakes Unit 3

Killearn Lakes Unit 3 — Wed, 27 May 2009 10:54:41 +0000

[...] I wrote the blog about Tallahassee’s Hottest Selling Neighborhoods last week, I listed the neighborhoods and their previous year’s sales figures. According to [...]

By: Joe Manausa

Joe Manausa — Tue, 19 May 2009 22:34:00 +0000

Josh,

This is a very wise question. The answer is yes. I did not include non-arms length sales (divorce/family/etc.) but the fact is, short sales and foreclosures are a major part of our market and should be included.

By: Josh

Josh — Tue, 19 May 2009 19:05:27 +0000

Joe,
Do the avg. prices listed for these neighboorhoods also include foreclosures as well which could bring down the avg. price listed?

By: Joe Manausa

Joe Manausa — Tue, 19 May 2009 17:38:45 +0000

Hey Mildred, yes absolutely. There are many of us in Tallahassee who love our homes and love our neighborhoods and I remain bullish on long-term Tallahassee home values.

But you also have to look at the thousands of people who want to sell their home and cannot because of the current glut of homes from the past two years.

When I see low sales in an area, I then look at the “failed to sell” history in that area. If not many homes have been on the market, then it is a neighborhood as you describe. Healthy and happy residents.

By: Mildred

Mildred — Tue, 19 May 2009 16:36:23 +0000

Did you ever think that some of the area’s with low sales might have more permanent, satisfied residents and no one ever moves or sells there?