Comments on: Predicting Tallahassee Home Sales Now And In The Future

By: Top Real Estate Blog Articles | Real Estate Market Reports

Top Real Estate Blog Articles | Real Estate Market Reports — Fri, 26 Jun 2009 17:22:25 +0000

[...] Predicting Tallahassee Home Sales Now And In The Future [...]

By: Housing Market Turn

Housing Market Turn — Wed, 24 Jun 2009 16:56:04 +0000

[...] Tallahassee population growth is near or greater than 0% (meaning no real decline) [...]

By: Realtors Report In On Housing Activity | Real Estate Market Reports

Realtors Report In On Housing Activity | Real Estate Market Reports — Mon, 23 Feb 2009 13:53:26 +0000

[...] Manausa presents Tallahassee Home Sales Prediction | Tallahassee Real Estate Blog posted at Tallahassee Real Estate Blog, saying, “By using the assumptions and data from our [...]

By: Joe Manausa

Joe Manausa — Fri, 13 Feb 2009 02:01:36 +0000

Will, great stuff, thanks for commenting. Believe it or not, we are just in a “normal” long-market cycle. Everybody “had to buy” during the boom, now everybody “has to sell.” It is a normal part of a supply and demand market (albeit at the extreme end of “normal.”).

There are people who are “holding on to their price,” but they exist in every market and they NEVER sell their homes. There are some great buys out their and the smart money is scooping them up. However, there are some really bad buys out there, so I advise proceed with caution.

I really appreciate your feedback, because we don’t get enough input from the “younger” crowd. I think your generation will be the wise generation that will be much like my grandparents generation, who had lived through the depression and were conservative in their spending habits…. but who knows.

Thanks again and I hope we hear back from you.

By: Will M

Will M — Fri, 13 Feb 2009 01:29:53 +0000

Joe,
After looking at your data, and as a current seller of a TH in 32301, I think you might be right. I was told that if you didn’t sell in 2008, be prepared to hold on to sell until 2011 or later. which for the most part lines up with your analysis. I’m a bit conservative due to the initial price of 1st time home buyers; b/c as a FAMUAN grad of 1999, I witnessed students in their senior/grad school yr somehow qualify and buy a primary residence and then investment property when they graduated, only to sell at a profit in early 2004/5. this has also with the rest of the nation and creative financing, driven the prices too high to qualify for 22-35yr age buying group. the rising tide of affordable real estate and 1st time home buyers representing the discretionary personnel, I’m not seeing a single man/woman who’s a grad student, undergrad or recent grad, qualify for condo/TH with school prices/loans and real estate rising, the debt to income ratio doesn’t seem to cut it, if they intend to purchase and still live a normal lifestyle. Who can really enjoy buying a home and spending 65-75% of their disposable income just to get in the game. Salaries are reluctant to go up, albeit the prices of our social lifestyle, including furniture, electronic devices, cars & travel prices don’t seem to drop with the demand. People are holding their prices high for listings sake and then sweetening the deal behind closed doors to protect the value of the neighborhood. Now I do see your predictions of population still growing, how, with a modest birthrate and school enrollment going down, I see trouble for existing businesses ability to expand and attract new workers or find new avenues of revenue that have been untapped. I’m scared for our economy right now, we don’t save as much as we need and we need to take time out and pay off our debts, putting it off until tomorrow will only make it worst. just like waiting to due your homework the morning its due, only to realize you’re not focused, information isn’t relative anymore and fighting a hangover and starvation at the same time. I continue to watch CNN and other news, only to find out they really don’t know what to do. I do wonder if EVERYONE cut prices by 10% at the same time would that spark spending or maintain the same steady state-steady flow??? Thanx for sharing.. PS, I do agree that smart money is buying now, but to me, those that are the smart money ones, probably are the ones who in this network pyramid got out of the game early and are resting on their spoils. The shame of it all is that innocent people pay the price. Do you think the big winners are at least holding up the non-profit agencies since they know their donations are down significantly. NO, their resting, waiting to attack and devour the loop holes of the new system, the benefits of a Market Capitalist Society… Not a sermon, just a thought..