Home Values In The Glen At Golden Eagle

Home values in the Glen at Golden Eagle are moving downwards, much like the rest of the Tallahassee real estate market. But there might be some signs of stabilization in this Northeast Tallahassee neighborhood which features homes from $150K to $250K.

Recently, reader "Don" wrote in with some questions about the Glen at Golden Eagle. Don wrote:

We’re always on here! I need some info about what is happening in the Glen Golden Eagle:

• Any forecasts for home values in this area? (down, way down)
• Is demand really low in the Glen?
• Is this neighborhood a reseller nightmare area?
• Is it hard to resell with a pool?
• Is there any thing about the Glen we should be asking, but have not?

Will there be HOTTER deals in Ox Bottom in next 12-18 months that we should wait based on data we can ascertain, (e.g arm resets, renters, delinquencies)? It seems that waiting 12 months may be better for deals than jumping on the rates/tax credits. We really like Ox bottom best. I think investors would just crowd normal folks out of deals in Ox Bottom, and am I wrong?

As any long-time readers of the Tallahassee Real Estate Blog knows, we love to use reader questions as the stimulus for our blog posts. This is a great way to ensure that we are keeping our content "fresh" and geared towards the interests of people buying and selling real estate today.

Home Values In The Glen At Golden Eagle

The real estate graph above tracks all arms-length existing home sales in the Glen At Golden Eagle. The one year trend in red shows how values rose and now are falling, while the five year trend shows no depreciation yet. Based on what we covered in our past few blogs on moving average crossovers, I can conclude that the market in the Glen is very bearish right now and values will continue to fall.

Currently, there are 8 homes for sale in the Glen at Golden Eagle, and the asking prices run from $159K to $225K. The number of sales have dropped to nearly 1 per month, which is the lowest it has been since resales started ten years ago. This tells me that Buyers do not see value at the current asking prices, and that demand will not return until more attractive pricing occurs.

Recent sales show anything purchased recently has fallen in value below 2005 prices. One sale showed overall appreciation because the previous sale was in 2001. It is important to note that no sale over $200K has occurred since 2008 (contract date).

This neighborhood is not "a nightmare". Don had asked if there was something wrong in the Glen or if having a pool was good or bad. Pools are good for buyers wanting pools, and bad for those who don't (how's that for in-depth analysis!). Overall, I do believe that homeowners with pools sell for higher prices. And as far as Tallahassee neighborhoods go, the Glen at Golden Eagle is wonderful and highly desirable. Once prices settle a little more, I would not be surprised if we don't see unit sales rush back upwards of 2o or 30 per year.

Recent Home Sales In The Glen At Golden Eagle

Address	Recent Price	Old Price	Recent Date	Old Date	Ann. Apprec. %	Total Apprec. %
9313 ROYAL TROON DR	$200,000	$235,000	4/9/2010	1/10/2006	-3.5%	-15%
9113 STONEHENGE TRL	$157,000	$119,900	12/31/2009	10/5/2001	3.8%	31%
9162 STONEHENGE TRL	$150,000	$174,000	10/28/2009	4/15/2005	-3.0%	-14%
1985 SUNNY DALE DR	$197,000	$250,000	9/25/2009	8/28/2006	-6.9%	-21%
1826 NEWMAN LN	$175,000	$210,900	9/18/2009	4/20/2006	-5.0%	-17%
1774 NEWMAN LN	$160,000	$175,000	8/12/2009	10/28/2005	-2.3%	-9%
2396 HEATHROW DR	$200,000	$225,000	8/4/2009	5/27/2005	-2.7%	-11%
1866 NEWMAN LN	$150,000	$193,500	5/22/2009	5/31/2006	-7.5%	-22%
2424 HEATHROW DR	$258,000	$275,000	12/23/2008	7/30/2007	-4.4%	-6%
1810 NEWMAN LN	$181,000	$199,900	12/21/2008	4/26/2005	-2.6%	-9%

Based upon the supply and demand information that we have, there is roughly 7 months of supply of homes for sale in the Glen at Golden Eagle, but this does not include the growing shadow inventory. Nonetheless, that makes this a MUCH better than average Tallahassee neighborhood if one is hoping to see prices return to appreciation soon.

Past Home Sales In The Glen At Golden Eagle

Address	Sales Price	Size	Age	PpSFT	Sale Date
9313 ROYAL TROON DR	$200,000	1,669	2004	$120	4/9/2010
1871 NEWMAN LN	$166,500	1,322	1998	$126	2/12/2010
2011 SUNNY DALE DR	$156,000	1,456	2003	$107	1/25/2010
9113 STONEHENGE TRL	$157,000	1,254	1998	$125	12/31/2009
1758 NEWMAN LN	$190,000	1,511	1999	$126	11/13/2009
9162 STONEHENGE TRL	$150,000	1,272	1999	$118	10/28/2009
9341 TUSCANY DR	$185,000	1,572	2002	$118	10/15/2009
1985 SUNNY DALE DR	$197,000	1,709	2004	$115	9/25/2009
1826 NEWMAN LN	$175,000	1,350	1999	$130	9/18/2009
1774 NEWMAN LN	$160,000	1,214	1998	$132	8/12/2009
2396 HEATHROW DR	$200,000	1,729	2004	$116	8/4/2009
9325 ROYAL TROON DR	$172,000	1,350	2003	$127	7/31/2009
1847 NEWMAN LN	$192,000	1,398	1998	$137	6/30/2009
1866 NEWMAN LN	$150,000	1,282	1998	$117	5/22/2009
2136 HEATHROW DR	$162,500	1,472	1998	$110	2/17/2009
9154 STONEHENGE TRL	$157,800	1,314	1998	$120	2/2/2009
2312 HEATHROW DR	$182,500	1,472	2002	$124	1/14/2009
2047 SUNNY DALE DR	$213,900	1,720	2004	$124	1/9/2009
2424 HEATHROW DR	$258,000	1,980	2003	$130	12/23/2008
1810 NEWMAN LN	$181,000	1,502	1999	$121	12/21/2008
9138 STONEHENGE TRL	$156,000	1,239	1998	$126	12/10/2008
9426 WINDAM WAY	$221,000	1,954	2004	$113	8/14/2008
1779 NEWMAN LN	$175,000	1,771	1998	$99	7/31/2008
1771 NEWMAN LN	$205,000	1,503	1998	$136	7/7/2008
9305 TUSCANY DR	$199,900	1,541	2003	$130	6/27/2008
1775 NEWMAN LN	$210,000	1,632	1998	$129	6/2/2008
9091 STONEHENGE TRL	$189,900	1,301	1998	$146	5/16/2008
1805 NEWMAN LN	$247,000	1,737	2006	$142	5/15/2008
9318 TUSCANY DR	$279,500	1,701	2004	$164	5/9/2008
9305 TUSCANY DR	$200,000	1,541	2003	$130	5/2/2008
140535A0190	$193,800	1,501	1999	$129	3/27/2008
9150 STONEHENGE TRL	$205,000	1,466	1998	$140	2/28/2008
1991 SUNNY DALE DR	$236,000	1,925	2004	$123	1/16/2008
9402 WINDAM WAY	$245,000	1,938	2003	$126	1/16/2008
2214 HEATHROW DR	$225,000	2,022	2003	$111	1/15/2008
1794 NEWMAN LN	$221,500	1,492	2001	$148	12/20/2007
2120 HEATHROW DR	$174,000	1,261	1998	$138	12/13/2007
2041 ASCOT WAY	$208,000	1,448	2000	$144	11/23/2007
9317 ROYAL TROON DR	$230,000	1,786	2004	$129	10/22/2007
1851 NEWMAN LN	$210,000	1,504	1998	$140	9/25/2007
140535B0170	$224,000	1,658	1998	$135	8/24/2007
2424 HEATHROW DR	$275,000	1,980	2003	$139	7/30/2007
2325 HEATHROW DR	$231,200	1,590	2004	$145	7/27/2007
2029 ASCOT WAY	$185,000	1,261	1998	$147	6/28/2007
1831 NEWMAN LN	$210,000	1,486	1998	$141	3/23/2007
1991 SUNNY DALE DR	$277,500	1,925	2004	$144	3/7/2007
2620 HEATHROW DR	$215,000	1,412	2005	$152	3/5/2007
9406 WINDAM WAY	$279,000	2,020	2003	$138	2/22/2007
1802 NEWMAN LN	$196,000	1,322	2000	$148	1/23/2007
9121 STONEHENGE TRL	$187,000	1,304	1999	$143	1/19/2007
2128 HEATHROW DR	$217,000	1,467	1998	$148	1/10/2007
1767 NEWMAN LN	$230,000	1,473	1998	$156	12/5/2006
9330 TUSCANY DR	$239,000	1,667	2004	$143	10/17/2006
9318 TUSCANY DR	$289,000	1,701	2004	$170	9/26/2006
9329 TUSCANY DR	$196,500	1,350	2002	$146	9/13/2006
1985 SUNNY DALE DR	$250,000	1,709	2004	$146	8/28/2006
1854 NEWMAN LN	$212,000	1,281	1999	$165	7/11/2006
1782 NEWMAN LN	$222,000	1,492	1999	$149	6/30/2006
9332 ROYAL TROON DR	$251,000	1,712	2003	$147	6/13/2006
2536 HEATHROW DR	$239,000	1,472	2003	$162	6/9/2006
1866 NEWMAN LN	$193,500	1,282	1998	$151	5/31/2006
2466 HEATHROW DR	$248,000	1,504	2005	$165	5/31/2006
9316 ROYAL TROON DR	$248,900	1,699	2003	$146	5/26/2006
9321 TUSCANY DR	$238,000	1,694	2003	$140	5/17/2006
9134 STONEHENGE TRL	$239,900	1,626	1999	$148	5/16/2006
9426 WINDAM WAY	$280,000	1,954	2004	$143	4/25/2006
1995 SUNNY DALE DR	$270,000	1,938	2003	$139	4/21/2006
1826 NEWMAN LN	$210,900	1,350	1999	$156	4/20/2006
9321 ROYAL TROON	$265,400	1,938	2004	$137	4/14/2006
9133 STONEHENGE TRL	$200,000	1,289	1998	$155	4/11/2006
9336 ROYAL TROON DR	$248,900	1,699	2003	$146	3/22/2006
9142 STONEHENGE TRL	$225,000	1,433	1997	$157	3/17/2006
2494 HEATHROW DR	$272,900	1,938	2003	$141	2/24/2006
9344 ROYAL TROON DR	$246,900	1,708	2003	$145	1/31/2006
1985 SUNNY DALE DR	$237,000	1,709	2004	$139	1/13/2006
9313 ROYAL TROON DR	$235,000	1,669	2004	$141	1/10/2006
2283 HEATHROW DR	$220,000	1,380	2004	$159	12/28/2005
2120 HEATHROW DR	$197,900	1,261	1998	$157	12/19/2005
1759 NEWMAN LN	$207,000	1,374	2000	$151	11/3/2005
1755 NEWMAN LN	$209,900	1,363	2000	$154	10/31/2005
1774 NEWMAN LN	$175,000	1,214	1998	$144	10/28/2005
9324 ROYAL TROON DR	$234,900	1,708	2003	$138	10/21/2005
2256 HEATHROW DR	$254,000	1,387	2004	$183	10/6/2005
9306 TUSCANY DR	$208,000	1,472	2003	$141	9/23/2005
9345 TUSCANY DR	$265,000	1,938	2002	$137	9/23/2005
2200 HEATHROW DR	$239,900	1,688	2003	$142	9/13/2005
1806 NEWMAN LN	$225,000	1,622	1998	$139	8/31/2005
9310 TUSCANY DR	$256,000	1,938	2004	$132	8/30/2005
1767 NEWMAN LN	$219,000	1,473	1998	$149	7/28/2005
1766 NEWMAN LN	$215,000	1,690	1997	$127	7/27/2005
2029 ASCOT WAY	$179,000	1,261	1998	$142	7/20/2005
9317 TUSCANY DR	$252,000	1,977	2003	$127	7/20/2005
9095 STONEHENGE TRL	$182,500	1,388	1999	$131	7/8/2005
2535 HEATHROW DR	$210,000	1,472	2003	$143	6/30/2005
2550 HEATHROW DR	$222,900	1,522	2003	$146	6/28/2005
9410 WINDAM WAY	$233,000	1,950	2004	$119	6/15/2005
1798 NEWMAN LN	$175,000	1,363	2000	$128	6/10/2005
2140 HEATHROW DR	$192,000	1,544	1999	$124	6/8/2005
2396 HEATHROW DR	$225,000	1,729	2004	$130	5/27/2005
140535B0140	$208,000	1,630	1998	$128	5/27/2005
1814 NEWMAN LN	$191,000	1,449	1999	$132	5/2/2005
1810 NEWMAN LN	$199,900	1,502	1999	$133	4/26/2005
9162 STONEHENGE TRL	$174,000	1,272	1999	$137	4/15/2005
9401 WINDAM WAY	$185,000	1,406	2002	$132	4/11/2005
1813 NEWMAN LN	$168,900	1,214	1998	$139	3/21/2005
9117 STONEHENGE TRL	$189,900	1,535	1999	$124	3/18/2005
1775 NEWMAN LN	$200,000	1,632	1998	$123	2/18/2005
2033 ASCOT WAY	$171,100	1,368	1997	$125	2/8/2005
1859 NEWMAN LN	$175,000	1,506	1998	$116	1/28/2005
9332 ROYAL TROON DR	$208,000	1,712	2003	$121	1/28/2005
1809 NEWMAN LN	$149,700	1,232	1999	$122	1/25/2005
1862 NEWMAN LN	$175,100	1,496	1999	$117	1/19/2005
9305 TUSCANY DR	$198,900	1,541	2003	$129	1/19/2005
9320 ROYAL TROON DR	$222,500	1,938	2003	$115	1/10/2005
1867 NEWMAN LN	$175,000	1,412	1998	$124	12/15/2004
1838 NEWMAN LN	$162,900	1,284	1999	$127	11/19/2004
1826 NEWMAN LN	$173,900	1,350	1999	$129	11/18/2004
2028 ASCOT WAY	$185,500	1,524	1999	$122	9/30/2004
1839 NEWMAN LN	$162,500	1,265	1998	$128	9/29/2004
1835 NEWMAN LN	$171,000	1,436	1998	$119	9/23/2004
1863 NEWMAN LN	$159,300	1,304	1998	$122	8/30/2004
9304 ROYAL TROON DR	$218,000	1,938	2004	$112	8/19/2004
9320 ROYAL TROON DR	$210,000	1,938	2003	$108	8/9/2004
1854 NEWMAN LN	$149,900	1,281	1999	$117	7/28/2004
2270 HEATHROW DR	$185,000	1,711	2004	$108	7/19/2004
1775 NEWMAN LN	$155,000	1,632	1998	$95	7/8/2004
1802 NEWMAN LN	$146,000	1,322	2000	$110	6/1/2004
2021 ASCOT WAY	$178,000	1,598	1999	$111	5/27/2004
9340 ROYAL TROON DR	$190,000	1,632	2003	$116	5/27/2004
1801 NEWMAN LN	$176,600	1,398	1998	$126	5/19/2004
9125 STONEHENGE TRL	$180,000	1,440	1998	$125	5/4/2004
2116 HEATHROW DR	$151,900	1,317	1998	$115	3/23/2004
1786 NEWMAN LN	$152,000	1,363	2000	$112	3/5/2004
1771 NEWMAN LN	$158,000	1,503	1998	$105	2/26/2004
1806 NEWMAN LN	$177,000	1,622	1998	$109	2/16/2004
9142 STONEHENGE TRL	$149,900	1,433	1997	$105	1/30/2004
9091 STONEHENGE TRL	$144,900	1,301	1998	$111	1/27/2004
1866 NEWMAN LN	$137,500	1,282	1998	$107	12/15/2003
1786 NEWMAN LN	$152,000	1,363	2000	$112	12/9/2003
2144 HEATHROW DR	$165,900	1,406	2002	$118	12/5/2003
1858 NEWMAN LN	$142,700	1,319	1998	$108	11/26/2003
9401 WINDAM WAY	$156,800	1,406	2002	$112	10/31/2003
140535B0140	$174,900	1,630	1998	$107	9/29/2003
1751 NEWMAN LN	$138,000	1,214	1998	$114	8/14/2003
9099 STONEHENGE TRL	$140,000	1,432	1999	$98	8/14/2003
1754 NEWMAN LN	$155,000	1,501	1998	$103	8/11/2003
9166 STONEHENGE TRL	$132,500	1,301	1998	$102	7/29/2003
1750 NEWMAN LN	$140,000	1,307	1998	$107	7/21/2003
2116 HEATHROW DR	$124,000	1,317	1998	$94	7/1/2003
140535B0140	$149,900	1,630	1998	$92	6/25/2003
1802 NEWMAN LN	$132,500	1,322	2000	$100	6/16/2003
9121 STONEHENGE TRL	$134,500	1,304	1999	$103	6/12/2003
1759 NEWMAN LN	$139,900	1,374	2000	$102	5/23/2003
1834 NEWMAN LN	$168,000	1,590	1999	$106	4/30/2003
1851 NEWMAN LN	$144,000	1,504	1998	$96	4/28/2003
1818 NEWMAN LN	$150,000	1,600	1999	$94	3/7/2003
1843 NEWMAN LN	$140,000	1,418	1999	$99	2/26/2003
9103 STONEHENGE TRL	$142,900	1,576	1999	$91	1/31/2003
2120 HEATHROW DR	$124,900	1,261	1998	$99	12/30/2002
1767 NEWMAN LN	$134,000	1,473	1998	$91	10/30/2002
1798 NEWMAN LN	$128,900	1,363	2000	$95	9/23/2002
2124 HEATHROW DR	$138,000	1,433	1997	$96	8/6/2002
1843 NEWMAN LN	$133,500	1,418	1999	$94	7/26/2002
9103 STONEHENGE TRL	$136,000	1,576	1999	$86	2/28/2002
2116 HEATHROW DR	$121,900	1,317	1998	$93	12/21/2001
140535B0140	$135,000	1,630	1998	$83	10/31/2001
9113 STONEHENGE TRL	$119,900	1,254	1998	$96	10/5/2001
9125 STONEHENGE TRL	$134,900	1,440	1998	$94	10/5/2001
1867 NEWMAN LN	$130,000	1,412	1998	$92	9/14/2001
2132 HEATHROW DR	$118,000	1,306	1998	$90	7/31/2001
9150 STONEHENGE TRL	$123,000	1,466	1998	$84	5/29/2001
1809 NEWMAN LN	$111,000	1,232	1999	$90	4/27/2001
9130 STONEHENGE TRL	$133,000	1,684	1999	$79	2/19/2001
2120 HEATHROW DR	$109,900	1,261	1998	$87	12/27/2000
1855 NEWMAN LN	$27,400	1,447	1998	$19	12/4/2000
1854 NEWMAN LN	$110,000	1,281	1999	$86	10/12/2000
1801 NEWMAN LN	$120,000	1,398	1998	$86	7/31/2000
9142 STONEHENGE TRL	$122,900	1,433	1997	$86	7/7/2000
9166 STONEHENGE TRL	$107,500	1,301	1998	$83	6/26/2000
1806 NEWMAN LN	$126,500	1,622	1998	$78	6/5/2000
9099 STONEHENGE TRL	$121,000	1,432	1999	$84	6/2/2000
9121 STONEHENGE TRL	$107,500	1,304	1999	$82	5/25/2000
1867 NEWMAN LN	$119,900	1,412	1998	$85	4/28/2000
2124 HEATHROW DR	$125,000	1,433	1997	$87	6/11/1999
1813 NEWMAN LN	$105,900	1,214	1998	$87	4/30/1999
1779 NEWMAN LN	$110,000	1,363	1998	$81	3/4/1999
9146 STONEHENGE TRL	$110,000	1,312	1997	$84	2/22/1999