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Distressed Homes In Tallahassee On Weakening Trend

As we approach the end of April, it appears as if a new trend is forming for distressed homes in Tallahassee.

We use the term "distressed" when we refer to properties where the homes are being sold under "other than normal" conditions, such as short sales, foreclosures, and bank owned properties.

Currently, there are still hundreds of distressed homes for sale in Tallahassee and recent foreclosure activity suggests we should expect a lot more coming into the Tallahassee real estate market.

Closed Distressed Homes In Tallahassee

The one year trend of closed distressed homes in Tallahassee appears to be declining as of three months ago when the trend hit an all time high of 37%.

Tallahassee Distressed Homes

In the real estate graph above, the green area measures closed arms length home sales, while the red area measures closed distressed homes in Tallahassee. The red line shows the one year trend of the ratio of distressed to arms length home sales.

Status Of Distressed Homes In Tallahassee

When we look at the current crop of distressed homes in Tallahassee listed for sale in the Tallahassee MLS, we find that 35% of them are already under contract. When we segregate the property listings by status, we find the following:

distressed homes in Tallahassee Graph

So 56% of "contingent listings" are distressed properties, while only 26% of homes with no contract are distressed. Finally, 35% of listings marked "Pending" are distressed.

Listed Distressed Homes In Tallahassee

The following list shows the distressed homes for sale in Tallahassee as of the date of this publishing. You can sort it and do searches with the custom search box. Of course, we also keep a list of the best distressed home buys in Tallahassee that is always updated and free to access at any time.

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If you have found a listing from these distressed homes in Tallahassee that you would like to see, just drop me a note and we can schedule a time to discuss the current status of the property and whether or not it really fits your needs.

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Joe Manausa Real Estate
1934 Dellwood Drive
Tallahassee, FL 32303
(850) 366-8917