New lis pendens filings in Tallahassee fell 33% in January when compared to January 2013, and foreclosures rose significantly up 92%.
The continuing decline in new lis pendens filings is exciting, and the rapid rise in foreclosures looks to be a stronger move by banks to resolve the lingering non-performing loans.
The blue line in the graph below shows that nearly 112% of all filings are ending up in foreclosure sale, indicating that foreclosure sales have exceeded new lis pendens filings and that the future rate of foreclosures will eventually be on the decline.
This is a list of properties that received a lis pendens filing in Tallahassee, for the week ending 1/31/2014. Most of the properties on this list will eventually show up in our market as short sales or as a foreclosure sale at the Leon County Court House.
||933 KENDALL DR
Did you know that on average, four homes leave the market each day without getting sold, requiring the homeowner to start all over and find a listing agent that can get their home sold?
Imagine the frustration. You decide to move (perhaps you want to take advantage of low interest rates or the invigorated market) so you hire somebody for the job of selling your home. They seem to know what they are talking about so you sign a six month or one year agreement, and then you start making plans for moving.
But nobody seems to want your home, and you wonder what is going on.
Homes That Failed To Sell
I have noticed a common error being made by newcomers and experienced homebuyers alike when searching Tallahassee homes for sale, and I want to suggest a solution that will save many of you from heartache and financial loss.
You see, the housing market made a turn in 2008 to a place where no current buyers or real estate agents had ever been. This new market, where distressed properties were no longer a tiny niche but rather a main staple of the houses available, made the process of determining value a rather complicated affair.
There have been many homebuyers in the past few years that paid too much for a home, because they did not have a solid grasp for what the home was worth when they made an offer. My tip will show you how to be a smarter...
Yes, the market is getting stronger every day, but that does not mean that we have seen the last of the distressed homes.
From coast to coast, I am seeing reports about short sales and foreclosures still being very prominent in the market, and that is very true still in the Tallahassee real estate market.
With roughly 30% of all home sales reported as non-arms-length, these problem properties will continue to impact home prices and home values throughout the 2014 selling year.
Distressed Home Sales Continue
With our first real estate graph of 2014 populated with several weeks worth of information, we see an actual increase in the number of ...
My wife and I moved to Tallahassee in 2007. It was a decision we made two years prior after visiting family in town for Thanksgiving. We saw that it was a great place to raise our children. It didn't hurt that Fall was in the air, the college football atmosphere was prevalent and the people were Southern friendly!
I was born and raised in Miami where I enjoyed a great childhood filled with team sports and outdoor activities. I played football, soccer and baseball finally settling on soccer which I played throughout college. Sailing and fishing were regular weekend activities. After school, I would work at my family's contracting business.
After four years at Auburn...
I recently received a question about real estate appreciation rates for Northeast Tallahassee and decided to use my answer for today's blog.
As you might imagine, different property types may or may not perform the same, so I have restated the question to cover condominiums, townhouses, and single family homes in NE Tallahassee.
The answers were a little bit surprising.
Real Estate Appreciation Rates Vary By Property Type
It should be expected that property values rise and fall based upon supply and demand, and we know that the demand for different property...
Well, it's about that time of year when the Tallahassee real estate market begins to heat up for the Summer selling season.
This is my 23rd year selling real estate in Tallahassee, and I have noticed that most years we see buyers and sellers start to really get active by mid-month in February. It's almost like February 15th is a magical date.
So in preparation of this upcoming special day, I have prepared a real estate market snapshot that will show where we are right now.
Tallahassee Real Estate Market Snapshot
The following real estate graph provides an excellent snapshot of the housing market in Tallahassee because it tracks four major trends on an annualized basis. Because...
You might have assumed this article would be about short sales on the market today, but that is not the case.
You see, the real estate market is about to experience a surge of homebuyers who took part in short sales as sellers three to five years ago.
That's right, there is a wave of buyers who will steadily hit the market now and for the next five years that will push the housing market back up to historically "normal" levels and beyond, making 2014 a good year to finally sell your home.
If you caught our recent article on ...