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Tallahassee Real Estate Blog

Lowest Price in Golden Eagle!

Tallahassee Realtor Menza Krause has just DRASTICALLY reduced 1646 Eagles Watch Way.  At ONLY $215,000 this is the lowest priced home in Golden Eagle!

The desirable neighborhood of Golden Eagle boasts great schools, nearby shopping and restaurants, a championship golf course, and an exclusive country club all in the gated community. 

This great family home  sits on quiet street, and features an open floor plan with a screened porch.  This  all brick beauty with manicurred yard is PRICED TO SELL!...

Year Over Year Home Sales Slide

The graph below measures what we refer to as the “Year Over Year” Home Sales Report. It measures the number of home sales each month and compares it with the same month from the previous year. Thus, if the line is upwards, the month from the current year saw more home sales than the same month from the previous year.

December home sales were down nearly 40% from December of 2009, and it was the sixth straight month of year over year declines. Simply put, every month from July through December of 2010 saw fewer home sales than the same months from July through December of 2009.

Year Over Year Home Sales Report Graph...

Is The Government Jumping Into The Mortgage Market

We have been tracking the real estate market on a daily basis and reporting the rise and fall of the recovery due to the Federal Government getting involved in the mortgage market and real estate market. Our readers have tendered several questions on this subject, and recently "Harry" asked the following question:

Hi Joe - I was not a fan of the government stepping in and trying to save the mortgages of people that overextended themselves. I felt that doing that simply delayed the inevitable failures - it added more national debt - and it prevented the housing prices from  bottoming out. Do you think the government is done with jumping into the mortgage market? -Harry

...

Tallahassee Monthly Lis Pendens Filings January 2011

New lis pendens filings in Tallahassee dropped 53% in January when compared to January 2010, and foreclosures fell 14%. This indicates that banks are more willing to proceed on mortgage foreclosures than they have been in the past, but it also might be a signal that distressed properties and mortgage defaults might be finally starting to slow. Currently, the foreclosure sale to Lis Pendens filings ratio is at an all time high of 55%, as we can see with the blue line in the foreclosure graph below.

Tallahassee Foreclosures

Tallahassee Foreclosures Filings January 2011 ...

Tallahassee Foreclosure Filings January 31, 2011

Tallahassee Foreclosures Filings January 31, 2011

Subdivision/Location Address Sqft Age Date Tax Value
APALACHEE RIDGE 918 KENDALL DR 1,008 1993 1/26/2011 $74,190
BETTON OAKS 1655 GOODWOOD DR 1,902 1981 1/24/2011 $156,570
BOXWOOD ESTATES 5047 BOX WOOD LN 1,248 1998 1/26/2011 $60,435
CRAWFORDVILLE TRACE 970 CRAWFORDVILLE TRCE...

Real Estate Failure Rates To Rise

One statistic that we have been maintaining at The Market Bulletin is a measurement that we refer to as the “Sales Success Rate.”  Recently, the one-year trend has dropped from a two-year high, after returning from a low of 30% reached in June of 2009.

By dividing the total number of closed sales by the total number of new listings, over a specific time period, we can show a trend that gives a hint at how many homes (as a percentage of the total) are actually selling.

Real Estate Failure Rates

Conversely, we can measure the home sales failure rate as the total number of listings...

Real Estate Supply And Demand Not Friendly To Home Builders

Real estate supply and demand figures are stifling home builders in their attempt to re-enter the housing market in Tallahassee. Even after coming off of two years of historic lows in new home starts, home builders are finding that the market is still way over supplied with inventory from existing home sellers.

This post contains three real estate graphs that show the dilemma that home builders are facing. The first two chart building permit and sales relationships for single family detached homes, while the third graph displays the current months of supply of homes for sale in Tallahassee...

Making Sense Of Housing Reports

I sometimes find it difficult understanding housing reports that are published or reported by the national news media, and apparently I am not alone. You see, most of the national reports that appear on the television and in print are a synopsis of monthly reports by the National Association of REALTORS (NAR), so you have to recognize that "our lobby" is putting a positive spin on everything that is being reported.

Recently, a reader of the Tallahassee Real Estate Blog sent in the following question, showing that it is not always easy to understand housing reports that are being thrown at us without any analysis. "JW" wrote:

Joe-

I was just watching Barbara Corcoran on NBC, she was saying that home sales in Dec. were up...

Another Homeowner Having Problems

Image-of-a-Short-Sale-in-TallahasseeI recently received an email from a reader who is a homeowner having problems trying to figure out what to do with an upside-down home. The saddest thing about this email is that such requests are not uncommon in today's housing market. Here is what "EG" has to say:

I have a house that I owe $160,000 on.  I'm 16,000 behind in my mortgage. My lender denied a modification, because I got a modification in 2009.

They will only allow 1 modification during...

The Charles Schulz Philosophy

From An Email Titled "The Charles Schulz Philosophy"

Charles Schulz Philosophy ImageThe following is the Charles Schulz philosophy, from the creator of the 'Peanuts' comic strip (as sent to me in a viral email). I did nothing to check the validity of the source, it just made so much sense I thought it was worth spreading the message. It starts off with a few simple questions.

You don't have to actually answer the questions to "get" the Charles Schulz philosophy.

Just ponder on them....

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