Most of my Tallahassee real estate reports are comprised of charts and graphs in order to monitor and then help explain what is transpiring in the housing market. The real estate graphs and charts are visual methods that often “show” what is occurring in the market far better than mere words can do in a blog.
The purpose of today’s Tallahassee real estate report is to simplify our style and use common sense to help our readers determine their wisest strategy for making decisions regarding their home and their real estate holdings.
Sure, we are in tough times, but the Tallahassee real estate market is giving us very clear signals about what will transpire over the ten to fifteen years, so if we are smart enough to pay attention, we can outperform the herd and that usually is a good thing.
Using The Crystal Ball In Our Tallahassee Real Estate Report
If I were fortunate enough to own a real crystal ball that could show me the future, I would simply report what it says each day and the Tallahassee Real Estate Report would be perfect, error free, and boring!
The reality is that so many factors combine to change the ebb and flow of the real estate tide in any market, so a prudent homeowner pays attention to the “big picture.” Supply and demand analysis is the “70% Solution” that will keep us tuned in to the current state of the market, regardless of what the national real estate lobby and local media want to lead us to believe.
Simply put, we look to see how just how many homes are for sale in Tallahassee, and what is the current rate of buyer activity in the housing market. The graph below appears often in the Tallahassee Real Estate Blog, and it is because it is the most accurate “picture” of the current demand for homes in Tallahassee.
Of course, if you caught our blog about real estate inventory growth a few days ago, then you now have a complete picture of where this market is heading. Demand is falling, supply is rising, thus pricing pressure will continue to drive down home values. By comparing current supply with current demand, we know our problem will exist for a minimum of the next three years.
Solving The Real Estate Market Problem In Tallahassee
How do we “fix” this problem? The simple answer is we need Tallahassee to grow. Be vocal in your support of the Economic Development Council and make sure you vote for local leadership that will address population growth needs. We have more homes than our current population needs, so the solution will involve population growth.
Tell our State politicians to fix our Florida Colleges; allow the Colleges and Universities to set market tuition so that they can grow with the great demand for higher education in Florida. We should work hard to keep the 1 Million + “Florida Prepaid College” students in Florida by making sure they have seats. Higher education can be the impetus to a resurgence of Florida growth, and thus a return to growth in Tallahassee.
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Without a doubt the long term solution to increasing demand in any city is to make it more attractive. How do you go about this? In today’s economy it’s all about jobs. You bring jobs, you bring in people to take those jobs and they buy houses in your community. It sounds like the most simple thing in the world but believe me it is far from it.