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Tallahassee Monthly Lis Pendens Filings October 2010

New lis pendens filings in Tallahassee dropped 40% in October when compared to October 2009, but foreclosures went up 18%. 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 45%, as we can see with the blue line in the foreclosure graph below.

Tallahassee Foreclosures

Tallahassee Foreclosures Filings October 2010


Tallahassee Foreclosure Filings October 31, 2010

Tallahassee Foreclosures Filings October 31, 2010

Subdivision/Location Address Sqft Age Date Tax Value
APALACHEE EAST 4292 OLD PLANTATION LOOP 1,862 2006 10/27/2010 $180,233
BOXWOOD ESTATES 5088 MEADOWLARK LN 1,512 1989 10/27/2010 $62,094
LIBERTY RIDGE CASEY DR 10/28/2010 $26,000

Pending Home Sales Find New Market Bottom

Pending home sales provide us with an advanced look at the future closed home sales report. The reason that I wanted to highlight this graph today is that it represents a very disturbing trend in Tallahassee (as well as most US housing markets. The number of homebuyers in the market is falling, as many “wanna be” homebuyers are trapped in their existing homes due to negative equity levels.

Pending Home Sales In Tallahassee


How Long Does It Take To Sell A Home?

Yesterday a home seller asked me "how long does it take to sell a home?" Now for the long-time readers of the Tallahassee Real Estate Blog, you know this is a touchy subject for me. The short answer of course (with appropriate liquidity in the market) is "4 to 14 days", but I'll get to that in a bit.

Soap BoxOccasionally, I have to get up on my soap box and harangue real estate professionals who provide statistics about "days on market," or how long it takes to sell a home. This is the most visible evidence of somebody in our industry having no clue about...

Using The Lease Agreement In Home Buying

Quite a few of our recent posts have been on creative financing in real estate, and many referred to using a residential lease agreement during some portion of the creative purchase of a home. The lease is important in creative home buying as it allows the buyer to occupy  (or use the property) prior to closing.

Recently, a reader "DR" had a few questions about a recent blog article [Rent To Own Homes] where he addressed the issue of seller default prior to the closing of the transaction, but after a residential lease agreement had been executed. He asked:

With ...

Rent To Own Homes - Buyer Beware

If you are a regular reader reader of the Tallahassee Real Estate Blog, then you know that I am an advocate of using a lease purchase agreement (rent to own homes) and many other forms of creative financing for real estate.

But just because that I advocate the use of this form for real estate acquisition does not mean that one can use it without careful due diligence.

Free list of homes available for home buyers with bad creditHome buyers need to understand some risks of buying "rent to own homes" through a ...

Existing Home Sales Report

In less than half an hour, the National Association of REALTORS® (NAR) will publish the monthly existing home sales report. Based upon the recently published Pending Home Sales report, I would not be surprised if it shows a seasonally adjusted rise in the number of homes that sold over the past year. But don't get too excited.

When the Pending Home Sales report was published a few weeks ago, the chief economist for NAR (Lawrence Yun) explained:

"The pace of a home sales recovery still depends more on job creation and an accompanying rise in consumer confidence.”

So basically, a smarter way to anticipate future movement in both existing home sales and pending home sales is to watch the...

How To Buy A Home With Bad Credit

Free list of homes available for home buyers with bad creditIf you want to know how to buy a home with bad credit, then you have come to the right place! If you think you are alone in your Tallahassee home search with a bruised credit history, then I have some very good news for you.

The whole world of banking and finance is teetering on the edge of self-destruction. Poor lending practices that occurred during the boom of the housing market have forced most US housing markets into a state that has...

Tallahassee Foreclosure Filings October 21, 2010

Tallahassee Foreclosures Filings October 21, 2010

Subdivision/Location Address Sqft Age Date Tax Value
AUGUSTINE PROP 8414 CABIN HILL RD 2,233 1973 10/20/2010 $191,766
BLOXHAM HEIGHTS 1229 LAKE AVE 2,348 2008 10/21/2010 $174,848
BRADFORD MANOR 2212 BERKSHIRE DR 1,562 1959 10/20/2010 $100,359

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