Distressed Property By Type March 3, 2010

While we do have a site dedicated to distressed property information for Tallahassee, we also like to track them in our market reports area. Rather than focus on the specific units, we look at the broader categories and how troubled property owners will impact the market.

Currently, of the 2,500 homes for sale in Tallahassee, over 22% of them are distressed property. These are made up of short sales, foreclosures, REO (properties owned by lenders after the foreclosure sale failed), and by relocation networks that have acquired homes through corporate moves.

Distressed Property Graph By Type

Looking at the real estate graph below, we can observe that the distressed properties seem to be distributed across the market in a similar balance as to the number of units for sale by type. For example, we see that more single family detached homes are in the distressed property catagory than townhomes and condos, just as more of these properties are in the market than condos and townhomes.

Look to see these numbers increase as the shadow inventory starts to leach into the recognized inventory of homes for sale in Tallahassee. The banks are starting to move to foreclosure sale in many instances after having sat on their hands for the past few years.

Great Tallahassee Real Estate Resources

Do you want to know more about the Tallahassee real estate market? It is not as hard as you might think keeping up with the movements in the housing market, you just have to know where to look. The following are some of the best resources that you can find on Tallahassee real estate:

• Daily Real Estate Blog (A Technorati Top 100): Tallahassee Real Estate Blog
• Current Housing Reports: Housing Market Reports
• Map Based Property Search Tool: MLS Property Search
• Foreclosure Reports: Lis Pendens and Foreclosures
• List of Distressed Properties in the MLS: Distressed Properties
• REALTOR® news and updates: Successful REALTORS®