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Distressed Property Sales Are Taking Over The Housing Market

Distressed Property Sales Tallahassee FloridaIn October of 2009, I warned about a tidal wave of distressed property sales coming our way, and it now appears as if they have arrived.

Thus far in April, 42% of all residential closings were distressed property sales, and the one year average is at 33%. Simply put, one in every three homes sold in Tallahassee over the past year has been a short sale, foreclosure, or bank owned property.

When we look at a graph of the rising trend, the analogy of the tidal wave is hard to overlook.

Distressed Property Sales In Tallahassee

In the real estate graph below, we see arms length home sales plotted in green, while distressed property sales are shown in red. The monthly measurement of distressed properties as a percentage of all homes sold in Tallahassee is shown in red, and the one year average is shown in blue.

Distressed Property Sales Tallahassee FL

Now that the robo-signing scandal is behind us, don't be surprised when we see that red line start popping above the 50% level. The market for short sales in Tallahassee is growing, as banks are reducing the time it takes to process a file. This can only be seen as a step in the right direction, though arms-length home sellers will be hard pressed to sell a home without competing on price.

Recent Distressed Property Sales In Tallahassee

Neighborhood Address SP Price/ SQF Closing Date Year Built SQF
Forest Green 2034 Sugar MapleCourt $127,000 $82 4/20/2012 1985 1,550
Villages At Wilson Green 4206 Ridge Haven Rd $71,400 $56 4/20/2012 2007 1,286
Emerald Acres 2725 Gemstone Lane $150,000 $69 4/20/2012 1996 2,189
Lake Cassie 1825 Benado Lomas Drive $225,000 $93 4/19/2012 2004 2,412
Twin Lakes Community 1518 Twin Lakes Circle $78,600 $68 4/19/2012 1982 1,152
Woodbriar 3298 Sawtooth Drive $67,000 $50 4/18/2012 2005 1,328
Woodrun Garden Homes 2563 ChandalarLane $114,000 $72 4/18/2012 2007 1,579
Mission Manor 6144 Greenon Lane $49,900 $44 4/18/2012 1981 1,126
Mallard Pond 5269 Quail Valley Road $490,000 $105 4/18/2012 2002 4,671
Chase's Run 2740 W Tharpe Street $61,380 $51 4/17/2012 2005 1,212
Woodbriar 3285 Sawtooth Drive $67,000 $50 4/17/2012 2005 1,328
Adams Place Condominiums 3000 S Adams Street $57,000 $45 4/16/2012 2005 1,264
Mystic Woods Condominiums 317-213 MabryStreet $32,500 $40 4/16/2012 1984 808
Dry Creek Run 3571 Clear Creek Dr $92,500 $66 4/16/2012 2005 1,399
Pebble Brooke 782 Brooke Manor Dr $105,000 $76 4/13/2012 2007 1,377
Merry Oaks Townhomes 1535 Merry Oaks Court $55,000 $57 4/13/2012 1988 960
Woodbriar 3337 Woodbriar Lane $120,000 $75 4/13/2012 2006 1,610
Village Square Townhomes 1515-34C Paul Russell Rd $38,700 $26 4/13/2012 1975 1,475
Dry Creek Run 901 Saddle Creek Run $76,000 $61 4/13/2012 2005 1,249
John Davis Prop Unrec 1702 Ferndale Place $153,000 $84 4/13/2012 1981 1,811
Wolf Creek 1941 Nena Hills Drive $72,000 $54 4/13/2012 2005 1,344
Jacksons Gap 5620 Jacksons Gap Road $199,900 $123 4/12/2012 2010 1,630
Killearn Lakes 8259 Chickasaw Trail $121,500 $67 4/12/2012 1986 1,810
Bluffs At Deerpointe 6714 Walden Circle $162,000 $80 4/12/2012 1988 2,024
Oak Ridge South 279 Oakview Drive $24,000 $19 4/12/2012 1977 1,276
Harbinwood Estates 2138 FaulkDrive $125,000 $85 4/10/2012 1979 1,479
Miccosukee Hills 1508 Coombs Dr $122,000 $76 4/9/2012 1959 1,597
Griffin College Heights 1002 Clay St $20,000 $20 4/9/2012 1959 1,008
None 921 Splendor Road $87,000 $73 4/9/2012 2006 1,196
Hampton Creek 5582 Hampton Hill Cir $140,000 $89 4/8/2012 2006 1,571
Southwood 3558 Four Oaks Blvd $157,000 $89 4/6/2012 2005 1,760
Summerbrooke 1001 Summerbrooke Drive $365,000 $81 4/6/2012 1995 4,500
Killearn Lakes 1583 Copperfield Circle $215,000 $98 4/5/2012 1991 2,198
Eastgate 2724 Bedford Way $113,000 $74 4/5/2012 1974 1,528
Lakeshore Estates 280 TimberlaneRoad $135,000 $86 4/5/2012 1993 1,564
Indianhead Acres 1605 Wekewa Nene $69,000 $45 4/5/2012 1969 1,522
Talco Hills 2441-C Talco Hills Drive $39,500 $44 4/4/2012 1983 896
Wren Hollow Unrecorded 2478-B Wren Hollow Drive $32,500 $39 4/3/2012 1981 828
Baker Place 6934 Grenville Road $410,000 $119 4/3/2012 2000 3,443
Brighton Place Condos 1575 Paul Russell $103,000 $59 4/2/2012 2006 1,740
Richview Park Unrec 452 Richview Park Circle West $79,900 $85 4/2/2012 1991 936
Village Square Townhomes 1515 Paul Russell $30,000 $20 4/2/2012 1975 1,511
Woodbriar 3252 Sugar Berry $65,000 $49 4/2/2012 2005 1,338
Talco Hills 2441-A Talco Hills $38,830 $35 4/2/2012 1984 1,100
Chase's Ridge 1143 Brafforton Drive $79,000 $78 3/30/2012 1990 1,008
Tyson Green 3693 Tyson Way $60,000 $48 3/30/2012 2008 1,260
Killearn Acres 6483 Joe Cotton $70,133 $52 3/30/2012 1982 1,356
Bloxham Heights Unrec 1606 Levy Ave $22,000 $21 3/30/2012 1963 1,072
Wolf Creek 1684 Corey Wood Cir $62,000 $50 3/30/2012 2006 1,242
Chase's Run 2740 W Tharpe Street $55,000 $45 3/30/2012 2005 1,212
Lakeside 4350 Cool View $135,000 $85 3/30/2012 1997 1,587
Adams Place Condominiums 3000 S Adams Street $48,300 $47 3/30/2012 2006 1,037
None 511 Lynndale Drive $28,630 $34 3/30/2012 1955 850
Villa Mitchell 770 Sw Wailes Street $40,000 $40 3/30/2012 2006 988
Carolina Oaks 426 W Carolina St $100,000 $56 3/30/2012 2006 1,792
Natural Wells 10103 Green Fountain Rd $92,000 $74 3/30/2012 2006 1,248
Lake Cassie 1809 Benado Lomas Drive $231,100 $90 3/29/2012 2004 2,573
Waverly Hills 410 Coldstream $139,900 $85 3/29/2012 1955 1,647
None 10089 Tram Rd $85,000 $61 3/29/2012 1982 1,384
Southwood 2500 Twain Drive $275,000 $126 3/29/2012 2006 2,184
Southwood 3258 Belle Meade Trail $507,310 $103 3/29/2012 2005 4,940
Magnolia Place 635 Chancey Lane $268,000 $124 3/29/2012 2003 2,162
Meadows At Woodrun 2149 Portsmouth Circle $56,500 $49 3/28/2012 1979 1,152
Apalachee Ridge 922 Kendall Drive $26,000 $25 3/27/2012 1993 1,056
Sierra Woods 8266 Sierra Woods Dr $247,500 $107 3/26/2012 2005 2,317
Windsor Hills 1720 Canterbury St $93,500 $77 3/26/2012 1960 1,212
Weems Plantation 3497 Barnstaple Drive $143,200 $82 3/23/2012 2004 1,749
High Hills 15178 High Hill Cir $190,000 $88 3/23/2012 2006 2,160
Killearn Commons 8580 Hannary Circle $166,000 $93 3/23/2012 1995 1,787
Sable Chase 1814 Acorn Ridge Trail $169,900 $94 3/23/2012 2005 1,806
Shannon Forest 3793 Patch Drive $178,500 $76 3/23/2012 1988 2,358
Woodlands 9350 Shumard Drive $76,000 $64 3/23/2012 2006 1,182
Woodbriar 3391 Woodbriar Lane $99,900 $73 3/23/2012 2006 1,369
Dry Creek Run 3586 Jim Lee Road $85,000 $65 3/23/2012 2006 1,300
Richview Park Unrec 440 Richview Park Cir W $75,000 $72 3/23/2012 1991 1,044
Tallahassee Center 215 W College - Penthouse 1001 Avenue $312,900 $120 3/23/2012 2006 2,613
Killearn Acres 3135 Swaps Trail $90,000 $72 3/22/2012 1981 1,248
Betton Hills 1518 Argonne Road $178,000 $74 3/22/2012 1973 2,391
Brandt Hills 1225 Halifax Ct $117,000 $93 3/22/2012 1965 1,262
The Tennyson 121 N Monroe Street #6001 $329,900 $187 3/22/2012 2006 1,765
Natural Wells 10167 Sandy Rock Ln $89,000 $70 3/21/2012 2006 1,275
Dry Creek Run 925 Saddle CreekRun $99,000 $81 3/21/2012 2005 1,224
Killearn Lakes 8185 Blue Quill Trail $205,300 $70 3/20/2012 1987 2,938
Piney Z 689 Eagle View Circle $249,900 $106 3/20/2012 2003 2,367
Mystic Woods Condominiums 317 (Bld 500) Mabry Street $31,600 $39 3/20/2012 1984 808
The Timbers 773 Timberwood Cir. E. $60,000 $47 3/20/2012 1993 1,268
Meridian Ridge 315 Meridian Ridge $245,000 $87 3/19/2012 2008 2,814
Prince Murat Heights 226 Day Street $51,000 $53 3/19/2012 1957 960
Summerbrooke 1387 Conservancy Dr E $245,000 $91 3/16/2012 1998 2,690
Hartsfield Village 2295 Nannas Loop $65,000 $57 3/16/2012 1989 1,144
Summer Lake 2712 Summermeadow Dr. $125,000 $68 3/16/2012 2007 1,841
Tharpe Street Village 1806 Meriadoc Road $35,200 $34 3/16/2012 1987 1,040
Ox Bottom Manor 6356 San Martin Court $273,760 $123 3/15/2012 1997 2,222
Killearn Estates 2829 Roscommon Drive $214,500 $70 6/15/2011 1969 3,069
Chase'S Run 2740 W Tharpe Street, Unit 402 $62,000 $51 3/15/2012 2005 1,212
Harbinwood Estates 4336 Oakmont $120,000 $77 3/15/2012 1973 1,564
Park At Stonebriar 1325 Stone Road $110,000 $62 3/15/2012 2005 1,785
Killearn Lakes 7733 Briarcreek Road $105,500 $84 3/14/2012 1984 1,256
Miccosukee Woods 9172 Stoney PointeCourt $180,900 $89 3/14/2012 2004 2,039
Forest Heights 1838 Sunset Lane $95,000 $69 3/14/2012 1957 1,378
Russell'S Pond 5207 Water Valley Drive $104,900 $69 3/14/2012 2001 1,520
Sedgefield 1277 Sedgefield Road $136,000 $101 3/13/2012 1988 1,344
The Plantation At Heritage Oak 4104 Old Plantation Loop $157,500 $102 3/13/2012 2008 1,540
Stoney Creek Crossing 1126 Fox Mill Drive $238,000 $112 3/9/2012 2004 2,123
Golden Eagle Plantation 8869 Blackheath Way $280,000 $106 3/9/2012 1995 2,630
Chateau De Ville 2020 Continental $37,500 $38 3/9/2012 1967 1,000
Appoloosa Run 2612 Nez Perce Trail $67,803 $38 3/9/2012 1973 1,769
Golden Eagle Plantation 9233 Shoal Creek Dr $325,000 $124 3/8/2012 2007 2,628
Woodbriar 3137 Sawtooth Drive $67,000 $50 3/8/2012 2005 1,328
Jackson Village 3769 MariaCircle $65,000 $65 3/8/2012 1983 1,007
Killearn Acres 3129 Swaps Trail $145,000 $119 3/7/2012 1981 1,220
Griffin College Heights 1019 Basin St $50,000 $25 3/7/2012 1956 2,018
Killearn Lakes 2231 Pine Landing Court $105,000 $71 3/6/2012 2000 1,478
Dry Creek Run 909 Saddle Creek Run $104,500 $76 3/6/2012 2006 1,381
Southwood 3157 Mulberry Park Boulevard $120,000 $91 3/2/2012 2002 1,324
Villages At Wilson Green 367 Wilson Green Boulevard $75,000 $63 3/2/2012 2006 1,198
Hartsfield Place 2525 Hartsfield Rd Unit 19 $55,555 $45 3/2/2012 2002 1,238
Arbor Hill 2617 Vassar Road $120,000 $92 3/1/2012 1976 1,308
Woodbriar 3293 Sawtooth Drive $61,000 $46 3/1/2012 2005 1,338
Governors Inn 209 S Adams Street $45,000 $90 3/1/2012 1990 500
Weems Plantation 3330 Dartmouth Dr $134,500 $94 2/29/2012 2002 1,432
College Terrace 520 Famcee Ave $79,200 $35 2/29/2012 1963 2,236
Plantation Condominiums 2203 W Pensacola J-7 $35,000 $40 2/29/2012 1968 880
Circle Beautiful 1546 Proctor St $85,000 $83 2/29/2012 1946 1,030
Lakewood Estates 5929 Split Oak Lane $66,250 $73 2/29/2012 1983 912
North Lake Meadows 7269 Newfield Drive $63,000 $53 2/29/2012 1987 1,200
Lafayette Town Homes 324 S Franklin Blvd. $55,500 $115 2/29/2012 1948 483
Glen Hawk 2051 ValkyrieCourt $86,500 $73 2/28/2012 1999 1,185
Hidden Valley 3321 Thomas Butler Road $85,500 $79 2/28/2012 1982 1,080
Majestic Oaks Condominium 3100 DianRoad $44,900 $37 2/28/2012 2005 1,216
Herring Place 1940 Secret Harbor Court $24,500 $25 2/28/2012 1992 990
Scenic Heights 1809 Ivan Drive $84,900 $78 2/28/2012 1965 1,092
Woodbriar 3080 Sawtooth Drive $68,000 $51 2/28/2012 2005 1,338
Northside Court 2002 Casa Linda Ct $36,475 $30 2/28/2012 1962 1,200
College Terrace 2808 Wahnish Way $48,000 $36 2/27/2012 1982 1,320
None 2377 Tallahassee Dr $133,000 $93 2/27/2012 1981 1,436
Adams Place Condominiums 3000 S Adams St $53,500 $42 2/27/2012 2005 1,264
Goose Creek 6173 Jason Trail $185,000 $108 2/24/2012 2004 1,718
Groves At Summerbrooke 1618 Berry Hill Court $125,000 $71 2/24/2012 1997 1,756
Killearn Lakes 3205 Horseshoe Trail $200,000 $86 2/24/2012 1990 2,318
Timber Ridge 4642 Amber Valley Dr $155,000 $84 2/24/2012 1986 1,837
Killearn Lakes 11101 Wildlife Trl $175,000 $77 2/24/2012 1990 2,284
Ridge At Velda Dairy 3463 Velda Dairy Drive $215,000 $67 2/24/2012 2008 3,218
Oak Valley 5415 Water Valley Court $61,500 $57 2/24/2012 1990 1,080
The Villages Of Summer Lake 1775 Summer Meadow Place $130,000 $71 2/24/2012 2006 1,822
Adams Place Condominiums 3000 S Adams $55,620 $44 2/24/2012 2005 1,264
Lafayette Oaks 2148 Orleans Drive $188,000 $91 2/23/2012 1979 2,077
Orange Blossom Heights 3209 Notre Dame Street $96,000 $44 2/22/2012 1966 2,160
Valley Green 2400 Beechnut Lane $68,700 $53 2/21/2012 1989 1,298
None 312 Folsom Rd $105,000 $57 2/17/2012 1956 1,829
Killearn Acres 6433 Jet Pilot $172,100 $84 2/17/2012 1983 2,054
Renegade Village 926 Lipona Road $32,500 $36 2/17/2012 1985 896
None 4561 Old Bainbridge Road $49,000 $47 2/17/2012 1950 1,044
Golf Drive Manor 402 Wallis Street $22,000 $22 2/17/2012 1940 980
None 4240 Rabbit Pond Road $228,500 $80 2/16/2012 1978 2,843
Shannon Forest 3612 Barbary Drive $85,000 $49 2/16/2012 1973 1,722
Brookwood Trace 2014 Midyette Road #606 $58,000 $42 2/16/2012 2005 1,368
Meadows At Woodrun 8612 Chatham Court $69,900 $49 2/15/2012 1980 1,431
Crawfordville Trace 869 Sw Balkin Court $71,800 $57 2/15/2012 2004 1,256
Hartsfield Village 2367 Ian Drive $75,000 $63 2/15/2012 1995 1,184
Merry Oaks Townhomes 1547 Merry Oaks $46,826 $44 2/15/2012 1988 1,065
Lafayette Town Homes 504 E Pensacola St $44,000 $73 2/14/2012 1948 601
Florida A&M 1938 S Adams Street $32,500 $18 2/11/2012 1949 1,777
Sandstone Ranch 1669 S Trail BlazerDrive $63,000 $48 2/10/2012 2006 1,300
Edinburgh Estates 4398 Woodbridge Road $80,000 $42 2/10/2012 1982 1,886
Dry Creek Run 932 Indigo Creek Way $114,250 $81 2/9/2012 2009 1,414
Buckwood 3957 Bothwell Terrace $45,000 $40 2/8/2012 1984 1,120
Bradford Brook 1183 Cottonwood Lane $21,100 $16 2/7/2012 1988 1,344
Tharpe Street Village 1878 Meriadoc Rd. $32,000 $28 2/7/2012 1986 1,128
Elberta Empire 1316 Elberta Dr $46,515 $50 2/3/2012 1948 928
Residences At Whispering Pines 2731 Blairstone Rd $23,900 $26 1/31/2012 1972 907
Cottages Of Miccosukee 1627 Miccosukee Loop $140,000 $86 1/30/2012 2007 1,628
Woodgate 1509 Woodgate Way $175,000 $92 1/30/2012 1972 1,893
Villages At Wilson Green 4262 Ridge Haven Road $75,000 $57 1/30/2012 2006 1,325
Brighton Place Condos 1575 Paul Russell Road $110,000 $63 1/30/2012 2006 1,740
Penny Lane 1233 Penny Lane $700,000 $144 1/27/2012 1991 4,868
Southwood 2565 Twain Drive $542,500 $122 1/27/2012 2008 4,456
Centerville Conservation 6000 Brookfair Lane $510,000 $142 1/27/2012 2008 3,596
Astoria Park 2630 Mayfair Road $85,000 $65 1/27/2012 1971 1,305
Hartsfield Plantation 2969 Indian Springs Ln $162,500 $87 1/27/2012 1996 1,873
Portland Townhouses 1938 Portland Avenue $35,900 $34 1/27/2012 1973 1,044
Residences At Whispering Pines 2731 Blairstone Rd $27,000 $31 1/27/2012 1972 875
Bull Run 2656 Breton Ridge Drive $279,000 $113 1/26/2012 2005 2,475
Olson Crest 3231 Grant Creek Trail $173,000 $98 1/26/2012 2007 1,767
None 3511 N MeridianRoad $445,000 $142 1/25/2012 2006 3,131
Killearn Lakes 8825 Minnow Creek Drive $104,900 $93 1/25/2012 1987 1,124
Park Charleston 1481 Harbor Club Dr $190,000 $108 1/25/2012 2006 1,760
Western View Unrec 4006 Chinook Street $56,500 $46 1/25/2012 1991 1,217
Lehigh 1337 Nancy Drive $34,500 $34 1/25/2012 1965 1,025
Killearn Lakes 3460 Rosemont Ridge Rd $96,000 $68 1/24/2012 1982 1,402
Plantation Of The Pecan Endowment 2255 Old Carrouth Path $22,000 $15 1/24/2012 1958 1,426
Sawgrass Plantation 2424 Needle Palm Way $135,000 $95 1/23/2012 1996 1,425
Kirkwood 3307 Sharer Road $120,000 $68 1/20/2012 1968 1,761
Timber Lake 4216 Red Oak Drive $75,000 $61 1/20/2012 1988 1,239
Majestic Oaks Condominium 3100 Dian Road #207 $40,000 $33 1/20/2012 2005 1,216
Hartsfield Woods 2307 Via Sardina Street $55,000 $48 1/20/2012 1989 1,144
San Mateo 1809 Hartsfield Road $24,000 $25 1/20/2012 1981 960
South Gadsden Street Townhouses 1605 S Gadsden St. $50,000 $45 1/20/2012 1984 1,120
Charleston Ridge 1320 Hendrix Rd #907 $90,000 $58 1/19/2012 2004 1,554
Autumn Woods 5629 Nature Lane $85,000 $68 1/18/2012 1978 1,257
Golden Eagle Plantation 3242 Pablo Creek Way $400,000 $143 1/13/2012 2005 2,795
Killearn Lakes 8137 Blue Quill Trl $129,999 $61 1/13/2012 1987 2,148
Cypress Cove 3355 Cypress Cove Ct $75,000 $63 1/13/2012 2002 1,195
Betton Hills 1532 Belleau Wood Drive $415,000 $147 1/13/2012 2007 2,827
Crescent Hills 1601 Crescent Hills Drive $78,000 $51 1/13/2012 2006 1,519
Foxwood 3703 Trevor Court $195,000 $80 1/13/2012 2004 2,430
Timber Ridge 1417 Pullen Rd #402 $73,000 $54 1/13/2012 2005 1,344
Villas Of Westridge 2244 Sandpiper St $48,000 $52 1/13/2012 1983 928
Centerville Plantation 10461 Centerville Plantation Road $45,000 $44 1/12/2012 1987 1,017
Centerville Plantation 10465 Centerville Plantation Rd $45,000 $44 1/12/2012 1987 1,017
Forest Heights 1902 Botany $110,400 $83 1/11/2012 1960 1,323
Glen At Golden Eagle 2521 HeathrowDrive $152,400 $101 1/10/2012 2003 1,502
Arbor Hill Patio Homes 3238 MoundDrive $71,588 $87 1/9/2012 1983 823
Tharpe Street Townhouses 1812 W Tharpe Street $31,000 $49 1/9/2012 1983 630
Plantation Of Tallahassee Pecan Co 2265 Old Carrouth Path $8,900 $9 1/6/2012 1950 1,000
Farmview Estates 7107 CalicoCircle $165,000 $69 1/6/2012 1988 2,408
Brighton Place Condos 1575 Paul Russell Road $102,500 $59 1/6/2012 2006 1,740
Timber Lake 1528 Bent Willow Dr $100,000 $82 1/5/2012 1989 1,224
Pineridge Estates 5608 WestviewLane $31,200 $20 1/5/2012 1979 1,600
Holland 4216 Crawfordville $29,000 $21 1/3/2012 1959 1,366

 I hope this distressed property sales report was enlightening, and of course, you can drop me a note any time to schedule a time to help you into or out of a distressed property situation.

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