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What Comparable Sales Really Mean In Home Valuation

When you decide to sell a home, the real estate agent you speak with will often refer to comparable sales when discussing the value of your house.

While common sense might lead you to understand that comparable sales are homes for sale or those that have sold which are similar to yours, there is a deeper level of comprehension that even most real estate agents do not understand.

It is this understanding that will help you correctly price your home to get the highest...

Bull Run House Values Ready For A Wild Ride

Bull Run house values are in for a wild ride, as new home sales continue to lead existing home sales by a factor of 2 to 1.

New home construction in the Bull Run Subdivision has been relatively strong, mostly due to liquidation of lots at far cheaper prices than were seen during the boom of the housing market.

While this is good news for the builder, it is not so good news for existing home owners who continue to see Bull Run house values decline.

Bull Run House Values

The real estate graph below shows...

Pending Home Sales In Tallahassee Improve

The National Association of REALTORS® just released the new Pending Home Sales report for the US, and overall it appears as if the market showed some signs of strength.

In Tallahassee, pending home sales (new contracts submitted to the Tallahassee MLS) grew 4% from February to March, and just under 1% growth year over year (March 2012 compared with March 2011). While this tiny growth not seem like much, it sure beats the falling numbers that occurred in three out of the four previous months.

Tallahassee Pending Home Sales Graph

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The Metamorphosis Of The Tallahassee Real Estate Website

I have received a lot of questions and feedback about this real estate website over the years, and people have been asking me for an update on what we are doing to continually grow our traffic and business.

Years ago, I wrote "Thesis Makes The Best Real Estate Web Site" in order to explain the tools and systems that we use on our Tallahassee Real Estate website, but today I am excited to announce the first major modification we have undertaken since December 2009.

Real Estate Website Speed

Several months ago,  I announced our intention of doing a complete site overhaul when Thesis 2.0 is released. Our site is built on the ...

Understanding The Short Sale Contract Process

short sale contract processWhether it be written in real estate blogs or practiced in our daily operation of a real estate brokerage business, I often see confusion and misunderstanding of the short sale contract process.

This confusion is not limited to homebuyers and homesellers, in fact, it most often is evidenced in the correspondences that I read from real estate agents to our short sale department.

In an effort to ...

Expect Slower Home Sales In 1st Quarter 2012

If you study new contracts in the Tallahassee MLS every day, and plot their performance over time, you often are able to produce short-term forecasts for home sales that are relatively accurate. With that in mind, the pending home sales report (new contracts) is projecting a slower 1st Quarter for 2012 than we saw in 2011.

The following real estate graph measures long and short term trends for pending home sales in the Tallahassee housing market. The short term trend analysis usually gives us a glimpse at what the long-term trend will be doing in the next few weeks and months.

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