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What Homebuyers Want In Tallahassee January 31, 2010

You might wonder why we graph so many things here at the Tallahassee Housing Report. We often are asked why we do this, and the answer is simple. The more we graph, the more we "see." Sometimes, just graphing information teaches us the questions that we should be asking. It's not always the answers that we are seeking, rather sometimes it is the question.

As case in point is demonstrated in the real estate graph below. I was curious what it would look like to graph all the price ranges in Tallahassee as a percentage of the whole market, and this is what I was able to observe:

What Homebuyers Want In Tallahassee

So, what do I see in...

Tallahassee Monthly Lis Pendens Filings January 2010

New lis pendens filings in Tallahassee dropped 20% in January when compared to January 2009, but foreclosure sales were up. This indicates that banks are more willing to proceed on mortgage foreclosures than they have been in the past.

In the real estate graph above, the green bars represent the annual trend (12 months of information each) of lis pendens filings, the red bars represent the annual trend of foreclosure sales, while the blue line represents the growing trend of banks moving forward to foreclosure sales. Currently, we see that roughly...

The Upside To Tallahassee Housing Inventory January 30, 2010

We have reported the glut of homes for sale in Tallahassee on our web site and in our office for well over two years now. Even as real supplies continue to shrink, relative supply has grown and receded, only to grow again. With a current 12.5 months of supply of homes, is there any good news in site for the Tallahassee real estate market?

The simple answer is yes. We are consuming the supply and we know there is more in the shadow inventory. But we are consuming supply. Today's supply is high at 12.5 months of supply, but if we look at today's housing supply with historic demand levels, you can see that the actual number of homes on the market in Tallahassee today would have made for a Sellers' market in 5...

Homes On The Market In Tallahassee January 29, 2010

A great way to study the Tallahassee housing market is to occasionally view a graph of homes for sale, by price range, and see if any obvious movement is occurring over time.

The following real estate graph shows that two price ranges have been dropping at a faster rate than most others. Homes priced $150,000 to $200,000 have dropped from 640 in October of 2008 to 440 in December of 2009. At the same time, homes priced from $300,000 to $500,000 have seen their inventory drop by 50%!

Most others have dropped only minimally, with the exception of homes priced under $75,000 which have risen steadily and doubled in number in the same period of time. I suspect this is due to the number of investment properties (rentals) that have started to fill the market.


Bill Peck Features An Awesome Home in Betton Hills

Bill Peck is a Tallahassee Real EstateTallahassee Realtor Bill Peck has just listed a great home for sale in Betton Hills.  Betton Hills is an in-town, established neighborhood convenient to Thomasville Road, Centerville Road, and Tallahassee Memorial Hospital.  This home is ideal for families with children or any one looking for a home with great character in an ideal location.

Home for Sale in Tallahassee 2447 Oakdale Street...

Active Areas In Tallahassee Real Estate January 28, 2010

With the boom of the housing market well behind us, one thing that we like to monitor is the activity in the different areas of the Tallahassee housing market. The boom created much new construction of homes for sale in all areas of Tallahassee, but since then some areas have died down slower than other areas.

The Tallahassee real estate market is broken down into four areas:

  1. Northeast
  2. Northwest
  3. Southeast
  4. Southwest

In the real estate graph below, we see that Area 1, Northeast Tallahassee, has grown as a percentage of homes sold in Tallahassee, while Areas 2 and 4 have seen a reduction in their percentage of the overall housing market in Tallahassee. Area 3, the Southeast, seems to be holding fairly steady.


Busy City Commission Meeting Yields Mixed Results

Picture Of A Duck In TallahasseeYesterday, I picked up my Mom and went to the Tallahassee City Commission meeting in order to see how our Commissioners were going to handle some hot issues that weighed heavily in their laps.

For those of you who personally know me, I am so apolitical that I rarely pay much attention to what our politicians are doing (or failing to do). This was a behavior instilled in me in my early days in the military that I have never really changed.

But recently I wrote about some concerns over possible ...

Months Of Supply Of Homes In Tallahassee January 27, 2010

Yesterday, we saw that the Tallahassee real estate market currently has 11.6 months of supply of homes for sale. But in reality, the market is not equally balanced in all price ranges, some are doing better and some are doing worse than this average.

In the real estate graph below, we see that while the overall market averages 11.6 months of supply, this is distributed across price ranges where homes from $150,000 to $200,000 have just over 8 months of supply, and at the opposite end of the spectrum, homes priced between $500,000 and $750,000 (as well as homes under $75,000) have over 18 months of supply.

Months Of Supply Of Homes In Tallahassee...

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