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From time to time, we like to take a close look at home sales in Piney-Z in Tallahassee. Today, we’ll take exert some extra effort in the pursuit of quantifying the amount of depreciation that has occurred in Piney-Z, as well as studying the average sales price of homes that have recently sold there. Of [...]
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A few weeks ago I wrote a blog about FSU Grads wanting to return to Tallahassee. It discussed the obstacles (jobs) to returning, as well as concerns about current and future home values. The blog was a response to a long-time reader who now resides in Ohio and would like to return one day.
After he [...]
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Many people are wondering just exactly where this crazy real estate market is heading and how to anticipate its next move. Unit sales have dropped and prices are continuing on a downward spiral.
In the past three years, we have seen a very hot sellers’ market change to a very cold buyers’ market, but many people [...]
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The Royal Oaks Subdivision is located just off of Thomasville Road on the Northwest side of Killearn Estates. Home values have thus far appreciated quite nicely over the past 20 years, with growth in each of the last three years as well! This is the first Tallahassee neighborhood that I have found that has done this.
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The enclosed real estate graph is chock full of useful information about real estate appreciation in Tallahassee, but first we need to identify how we were able to produce the graph. The graph is a measurement with the following constraints:
* All recorded 2009 existing home sales in Tallahassee (no new home sales)
* Only “Warranty Deed” recordings in order to remove as much “non arms length sales” as possible
* Only properties with square footage recorded at the county
* All Previous sales were used to calculate annualized return for each property
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Much is written about real estate appreciation (or now real estate depreciation) and many points of reference are used to “validate” the rates that are being computed. But I warn you, most references to appreciation are just plain wrong.
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I keep coming across articles and getting comments from readers about with whom we should place the blame for this declining real estate market. I have read that it is the banks’ fault for making money too easy to borrow. I have read that it’s the builders’ fault for building too many homes. I have [...]
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You might want to check out our Tallahassee Real Estate Inventory Update again. Every thirty days, I add another long-term trend chart with the goal of eventually having a 365-day trend chart. As you can tell, we just added the 120-day trend graph. Our goal is to monitor as many trends in real estate as [...]
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There has been some debate lately in the Tallahassee real estate market regarding how one would measure appreciation rates of homes in a given real estate market. Some people like to think that you compare the median home price in our market today with the median home price from a year ago, and that will [...]
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