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Looking For Distressed Home Sales In Tallahassee

Distressed-Home-Sales-By-Age-Of-HomeI was driving my 11 year old son Max to his football game yesterday and he mentioned that they were studying "Music History" in school. He went on to mention that they went all the way back to the 1960s ... I told him that wasn't music history, that was still pop music!

We discussed the music produced in the 1960s, and he mentioned that they learned about the Beatles, but not about the Rolling Stones (what kind of music class wouldn't mention the Stones?) And it got me thinking.

If you saw the blog I did yesterday on REO and short sales in Tallahassee, I provided a map to the distressed home sales in Tallahassee for the past few months. Having this data still handy, I wanted to further explore patterns of where our most challenged homes were being sold. My conversation with Max gave me the thought to compare the age of the homes sold with the level of distressed properties for sale in Tallahassee to see if there was a correlation, and here is what I found.

Distressed Home Sales By Age Of Home

I pulled all of the home sales in the Tallahassee MLS from January 2009 to present to see when they were built, and how many of each decade were distressed home sales.

Distressed Home Sales By Age Of Home

In the real estate graph above, we see that newer homes and older homes appear to be performing worse than the homes built in the 1980s and 1990s. It appears as if the age of the home and the percentage of them being distressed inversely mirrors the quality of the music from that era :), except of course for the newer homes.

Map Of Recently Built Distressed Home Sales

I think the reason that newer homes are at such a high level of distress is that many new home buyers over the past 10 years were utilizing the easy loan programs that helped created this real estate market meltdown. Low interest ARM products were used by new construction buyers to create a temporary lower payment term, which allowed them to pay the premium for new homes in 2004 through 2006. Now that these adjustable loans are converting to term loans, the payments are out of the range of those who purchased them (gross over-simplification, but definitely on point to the causation).

Distressed Home Sales By Zip Code

Another interesting view of distressed home sales in Tallahassee is one arranged by zip code. The real estate graph below shows that not all zip codes are equal, with the 32310 zip code reporting 43% of the homes sold were distressed, while the opposite end of the spectrum in 32308 was reporting "only" 14% of the homes sold were distressed.

Distressed Home Sales By Zip Code

Recent Distressed Home Sales For Homes Built After 1999

Neighborhood Address SP Price/SQF Closing Date Year Built SQF
Starview 179 Nabb Road $188,900 $111 9/23/2011 2004 1,703
Melrose Park 521 Ward Street $175,000 $112 9/22/2011 2006 1,569
Brentwood 2302 Ohbah Nene $57,750 $31 9/22/2011 2002 1,852
Dry Creek Run 976 Beaver Creek Way $110,000 $76 9/16/2011 2005 1,456
Seminole Manor 1518 Doolittle Avenue $49,900 $27 9/15/2011 2006 1,856
Camp Crossing 1731 Quazar Road $61,500 $51 9/9/2011 2006 1,200
Goose Creek 219 Waynard Way $184,500 $94 9/6/2011 2005 1,971
Villages At Wilson Green 4197 Ridge Haven Road $95,000 $72 9/2/2011 2007 1,312
Evening Rose 1626 Cottage Rose Lane $160,000 $100 9/2/2011 2007 1,601
Wilson Green 4259 Ridge Haven Road $98,000 $74 9/1/2011 2008 1,328
Wilson Green 4251 Weatherby Court $84,900 $67 8/31/2011 2005 1,275
Hampton Creek 5431 Hampton Hill Cir $136,000 $97 8/31/2011 2006 1,404
Townhomes On Eugenia 640 Eugenia St $55,000 $38 8/29/2011 2006 1,449
Woodbriar 3295 Sugar Berry Way $66,000 $49 8/26/2011 2005 1,338
Pebble Brooke 790 Brooke Manor $120,000 $87 8/26/2011 2008 1,377
Killearn Lakes 2994 Killearn Pointe Court $404,900 $119 8/25/2011 2005 3,400
Southwood 4014 Blairstone Road $199,900 $111 8/25/2011 2005 1,794
Wolf Creek 1695 Corey Wood Circle $73,000 $54 8/23/2011 2005 1,344
Adiron Woods 7032 Sawley Ct $159,000 $68 8/23/2011 2007 2,340
Wolf Creek 1829 Nena Hills $75,000 $56 8/22/2011 2005 1,344
Eagle'S Ridge 9254 Eagles Ridge Drive $500,000 $122 8/22/2011 2007 4,104
Southwood 4100 Raleigh Way $222,500 $109 8/19/2011 2006 2,045
Savannah Crossing 2738-1501 W Tharpe Street $70,000 $58 8/19/2011 2003 1,215
B L Gandy Prop Unrec 2637 Mission Road $90,000 $55 8/18/2011 2007 1,626
Hough Mini Farms 9700 Sidney Lane $215,000 $63 8/17/2011 2000 3,412
Adams Place Condominiums 3000 S Adams Place $55,000 $44 8/16/2011 2004 1,264
Hartsfield Place 2525 Hartsfield Rd Unit 2 $60,000 $48 8/12/2011 2002 1,238
Southwood 3790 Piney GroveDrive $275,000 $103 8/12/2011 2006 2,664
Bull Run 5647 BurnsideCir $239,500 $126 8/11/2011 2007 1,899
Barrington Park Condominiums 2801 Chancellorsville Dr. #1428 $100,000 $72 8/5/2011 2004 1,397
Oak Wood 3262 Allison Marie Court $78,000 $64 8/4/2011 2005 1,216
Piney Z 1150 Landings Loop $167,800 $112 8/2/2011 2002 1,501
Southwood 4252 Raleigh Way $205,000 $99 8/2/2011 2006 2,073
Savannah Crossing 2738-2606 W Tharpe St $65,000 $54 7/29/2011 2004 1,209
Groves At Summerbrooke 1599 Sweet Plum Cir $157,500 $92 7/29/2011 2001 1,717
Saxon Northwest Addition 804 Dunn Street $57,000 $50 7/28/2011 2005 1,144
Stone Bridge 2408 Fred Smith Road $60,900 $45 7/28/2011 2006 1,353
Crescent Hills 5363 Falling Star Drive $109,500 $88 7/27/2011 2006 1,246
Woodbriar 3361 SawtoothDrive $62,000 $46 7/26/2011 2005 1,338
None 2426 Country Club Drive $52,500 $39 7/25/2011 2006 1,351
Woodbriar 3345 Sawtooth Dr $64,000 $48 7/20/2011 2005 1,328
Natural Wells 2268 Natural Wells Drive $73,000 $64 7/19/2011 2005 1,144
Southwood 4065 Colleton Court $112,000 $85 7/19/2011 2003 1,324
Woodbriar 3396 Woodbriar Ln $120,000 $96 7/18/2011 2005 1,249
Laurel Trace 2609 Fenwood Ct $182,500 $79 7/15/2011 2006 2,321
Lakeside 4255 Cool Emerald $152,000 $86 7/15/2011 2006 1,767
None 202 Sweet Grass Lane $85,000 $77 7/15/2011 2000 1,107
Crawfordville Trace 933 Crawfordville Trace $94,500 $75 7/14/2011 2006 1,263
Natural Wells 2221 Natural Wells Dr $90,000 $68 7/7/2011 2005 1,326
Apalachee Hills 1613 Quazar Road $75,000 $64 7/5/2011 2006 1,173
Golden Eagle Plantation 9031 Winged Foot Dr $450,000 $124 6/30/2011 2000 3,626
Southwood 4059 Colleton Court $144,000 $97 6/30/2011 2003 1,483
Campbell Park 613 Alpha Ave $78,795 $54 6/30/2011 2006 1,464
None 11711 Evergreen Hills Court $118,000 $81 6/30/2011 2008 1,461
Wolf Creek 1824 Nena Hills Drive $90,000 $52 6/30/2011 2005 1,744
Sable Chase 8416 Ivy Brook Lane $175,000 $100 6/29/2011 2004 1,745
Tower Oaks 5531 Tower Wood Trail $94,000 $70 6/29/2011 2002 1,338
Savannah Crossing 2738-2604 W Tharpe St $67,000 $55 6/28/2011 2004 1,209
Heatherwood Estates 4262 Heatherwood Drive $125,000 $79 6/27/2011 2004 1,592
Homestead Ridge 9370 Settler Avenue $210,000 $106 6/24/2011 2007 1,983
Bobbin Trace 3815 E Millers Bridge Circle $739,779 $159 6/24/2011 2003 4,660
Camellia Gardens 3400 Old Bainbridge Road #306 $68,000 $49 6/24/2011 2004 1,386
Golden Pheasant 2259 Upland Way $280,000 $99 6/23/2011 2005 2,838
Brighton Place Condos 1575 Paul Russell Rd $103,000 $60 6/20/2011 2006 1,731
Landmark 253 Briley Ct $58,000 $51 6/15/2011 2003 1,128
Camellia Gardens 3400 Old Bainbridge #402 $84,900 $62 6/13/2011 2004 1,368
Sable Chase 1833 Acorn Ridge Trail $159,650 $108 6/8/2011 2005 1,477
Woodbriar 3309 Sawtooth Drive $65,500 $49 6/7/2011 2005 1,338
Southwood 4070 Colleton Court $139,900 $94 6/3/2011 2003 1,483
Emerald Acres 8589 Marquis Street $231,000 $106 6/2/2011 2005 2,175
Goose Creek Meadows 171 Leah Martin Court $172,000 $90 6/2/2011 2002 1,916
Wolf Creek 1954 Nena Hills Drive $66,275 $49 6/2/2011 2005 1,344
Stoney Creek Crossing 1204 Sandler Ridge Road $245,000 $100 5/31/2011 2004 2,438
Loma Woods 3714 Loma Farm Rd $339,900 $96 5/31/2011 2005 3,544
None 735 Carr Lane $399,000 $125 5/31/2011 2007 3,200
Southwood 3570 Four OaksBlvd $145,000 $104 5/31/2011 2005 1,394
Southwood 2545 Twain Drive $207,000 $102 5/27/2011 2005 2,033
Woodbriar 3132 Sawtooth Drive $61,000 $46 5/27/2011 2005 1,338
Southwood 2988 Verdura Point Drive $225,000 $97 5/26/2011 2002 2,308
Lakeview 1326 N Duval Street $240,000 $96 5/26/2011 2007 2,493
Liberty Ridge 627 Nocatee $50,000 $74 5/26/2011 2005 672
Woodbriar 3297 Sawtooth Dr $62,000 $46 5/26/2011 2005 1,338
Callen Woods 2704 Kennedy Drive $74,500 $61 5/23/2011 2006 1,228
Camellia Gardens 3400 Old Bainbridge Road $61,000 $45 5/18/2011 2004 1,368
Golden Pheasant 6537 Cedar Chase Way $255,000 $86 5/18/2011 2005 2,955
Longwood Estates 1262 Poplar Drive $98,000 $74 5/18/2011 2006 1,318
Southwood 3258 Newberry Boulevard $158,000 $112 5/13/2011 2003 1,416
Liberty Ridge 905 Angela Drive $90,000 $44 5/13/2011 2006 2,038
Elberta Empire 1309 Elberta Dr $55,000 $43 5/13/2011 2006 1,290
Woodberry 2700 Fairmount Lane $121,250 $87 5/12/2011 2002 1,395
Woodbriar 3263 Sugar Berry Way $61,000 $46 5/11/2011 2005 1,338
None 2344 Potts Road $280,000 $95 5/6/2011 2006 2,956
Tower Oaks 5528 Cattail Court $112,000 $84 5/6/2011 2003 1,338
None 595 Fulton Rd $225,000 $187 5/6/2011 2003 1,204
812 Saint Michael Street Condominiums 812 St Michaels Street #3 $208,000 $92 5/5/2011 2006 2,250
Callen Woods 2740 Kennedy Dr $54,300 $49 5/5/2011 2005 1,110
Chesapeake Place 2744 Tess Circle $51,000 $43 5/2/2011 2000 1,178
Southwood 4020 Colleton Court $118,000 $89 5/2/2011 2003 1,324
Carolina Oaks 438 W Carolina St $115,000 $75 4/29/2011 2005 1,524
Pine Tip Hills 532 Moss View Way $310,000 $110 4/29/2011 2001 2,827
Adams Place Condominiums 3000S Adams Place $55,000 $44 4/29/2011 2005 1,264
Walton Corners 6123 Cody Trail $290,000 $110 4/29/2011 2007 2,640
Summerbrooke 7551 Preservation Road $350,000 $105 4/29/2011 2004 3,332
Olson Landing 2968 Olson Landing $95,000 $65 4/29/2011 2002 1,458
Foxwood At Old Bainbridge 3712 Trevor Court $170,000 $84 4/28/2011 2004 2,027
Lake Cassie 1792 Benado Lomas Drive $200,000 $83 4/27/2011 2004 2,417
Savannah Crossing 2738W Tharpe #2802 Street $67,000 $55 4/22/2011 2004 1,209
Bull Run 2704 Breton Ridge Dr $400,000 $121 4/22/2011 2006 3,305
Sable Chase 8369 Ivy Mill Lane $165,500 $101 4/21/2011 2006 1,640
Oak Ridge Place 4507 Deslin Drive $118,000 $85 4/21/2011 2006 1,394
Summerchase Condos 4434-2902 Gearhart Road $80,500 $60 4/20/2011 2006 1,344
Rattler View Condominiums 630 Rattler View Court $64,900 $53 4/19/2011 2007 1,226
Piney Z 1073 High Meadow Drive $159,905 $103 4/19/2011 2002 1,547
Southwood 4022 Blair Stone Road $169,900 $111 4/18/2011 2005 1,524
Briar Chase 2901 AlexisLn $150,000 $96 4/15/2011 2005 1,570
Starview 245 Nabb Loop $200,000 $108 4/15/2011 2004 1,852
Tallahassee Highlands 2555 Eddie Road $112,000 $86 4/15/2011 2006 1,305
Turkey Run Unrecorded 13227 Ring Neck Road $155,000 $102 4/14/2011 2000 1,523
Wilson Green 369 Chastain $80,500 $63 4/13/2011 2006 1,286
Wolf Creek 1945 Nena Hills Drive $84,500 $63 4/13/2011 2005 1,344
Brighton Place Condos 1575 Paul Russell Road $90,000 $53 4/11/2011 2006 1,705

Please check back again for more distressed home sales reports on the Tallahassee Real Estate Website.

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