One In Four Home Sales Is A Distressed Property
The newest data has just arrived for home sales in Tallahassee, so I figured now was a good time to update the Tallahassee Subdivision Report. While I do this report every month, this will be the first time that I separate the "arms length" sales from the non arms length sales.
Just as a reminder for readers who have seen our earlier blogs on arms length sales, these are which are freely entered into by parties who don't have a special relationship or control over one another. An arm's length sale is indicated by the fairness of price, conditions, and other terms of the agreement. For example, an agreement between relatives or sales involving a deal on the side may not be considered an arm's length sale because they may not reflect the true value of the deal.
Most Active Neighborhoods Have Distressed Property Sales
As you can see from the real estate graph below, most of the top 20 active neighborhoods in Tallahassee have their fair share of non-arms-length home sales.
Tallahassee Subdivision Report - August 2009
Every month we post the Tallahassee Subdivision Report, but this month we did so with a twist. Sales in each subdivision were broken down into "arms length" and "non arms length" sales.
|Subdivision||Arms Length||Not Arms Length||Grand Total||Distressed %|
|GOLDEN EAGLE PLANTATION||17||7||24||29%|
|GLEN AT GOLDEN EAGLE||15||8||23||35%|
|OX BOTTOM MANOR||13||4||17||24%|
|INDIAN HEAD ACRES||16||1||17||6%|
|PLAZA TOWER CONDO||17||0||17||0%|
|VILLAGES AT WILSON GREEN||2||14||16||88%|
|MEADOWS AT WOODRUN||10||5||15||33%|
|VILLAGES OF MACLAY T/H||11||4||15||27%|
|BRIGHTON PLACE CONDO||13||2||15||13%|
|TOWNSHIP ONE NORTH||3||9||12||75%|
|TIMBER LAKE REPLAT||9||3||12||25%|
|DRY CREEK RUN||10||2||12||17%|
|TOWN 'N COUNTRY PARK||11||1||12||8%|
|VILLAS AT PINE FOREST||12||0||12||0%|
|GRIFFIN COLLEGE HEIGHTS||2||9||11||82%|
|PLANTATION OF TALLAHASSEE PECAN||6||4||10||40%|
|THE TIMBERS TOWNHOMES||7||3||10||30%|
|STONEY CREEK CROSSING||8||2||10||20%|
|SAVANNAH CROSSING CONDOMINIUM||9||1||10||10%|
|LAKE JACKSON HEIGHTS||7||2||9||22%|
|CHATEAU LAFAYETTE TOWNHOMES||8||1||9||11%|
|GROVES AT SUMMERBROOKE||8||1||9||11%|
|MYSTIC WOODS CONDO||8||1||9||11%|
|KILLEARN ESTATES UNIT 28||3||5||8||63%|
|PARK BROOK CROSSING||7||1||8||13%|
|PINE TIP HILLS||7||1||8||13%|
|PALMS WEST CONDOMINIUM||3||4||7||57%|
|VILLAS OF WESTRIDGE||5||2||7||29%|
|BRECKENRIDGE ON PARK||7||0||7||0%|
|GOVERNOR'S INN CONDOMINIUM||7||0||7||0%|
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Joe Manausa is a real estate blogger, a real estate investor and the Broker and Co-Owner of Joe Manausa Real Estate. He can be reached via e-mail through the Tallahassee Real Estate Website or catch his latest writings on the Tallahassee Florida Real Estate Blog , or by calling (850) 386-2001.
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