Looking For Distressed Home Sales In Tallahassee
I 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.
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.
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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