New lis pendens filings in Tallahassee rose 5% in October when compared to October 2010, but foreclosures fell 37%. We have to be a bit concerned as two out of the past 3 months have seen new lis pendens filings rise, which could be the sign of growth in future foreclosure sales. Currently, the foreclosure sale to Lis Pendens filings ratio has dropped from an all time high five months ago to 47%, as we can see with the blue line in the foreclosure graph above.
Tallahassee Foreclosures Filings October 2011
The Weekly Special went out this morning, and it showed a real estate seasonality graph which included 20 years of closed home sales and how different times of years typically performed. We can use seasonality to prepare for both the busier times of year (typically March through August) and the slower times of year (September through February) in the Tallahassee Real Estate Market.
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Home sales in Piney Z have been on a steady decline since 2003, and 2011 appears poised to set another new market bottom for unit sales. There have only been 22 closed home sales through late October, and without a huge surge it is highly unlikely that 2011 will surpass the previous bottom of 31 homes sold in 2010.
This is clearly the case of home owners “holding on” trying to find higher prices. I suspect we will start to see homeowners begin to be overcome by the market momentum next year and home values could decline at a rapid rate. This has happened in other areas of the Tallahassee real estate market when home sellers held onto their asking price while the rest of the market continued to decline. Don't expect Piney Z sales levels to return until home sellers begin to price their homes competitively with the rest of the ...
Most of the things that we do in residential real estate do not require a PhD in physics, but getting everything done each day is the key to being a great real estate agent and why a career in real estate is one of the most exciting jobs in Tallahassee.
Ever since I started putting the word out that our Joe Manausa Real Estate real estate office is looking to hire more people to help service our growing online business, we have been meeting with both...
Summerbrooke home sales are happening at the slowest rate on record, and this is not good for this Northeast Tallahassee golf course community. We recently performed a similar analysis on Golden Eagle Plantation and found it was having its best year since 2007. Currently, Summerbrooke has only recorded 16 home sales, which is 36% fewer than the 25 closed by this time last year.
Map Of Recent Summerbrooke Home Sales
The National Association of REALTORS® released the October edition of the Existing Home Sales Report a few days ago, revealing a rise in year-over-year home sales across the US. September's closing were below August in a typical seasonal change, but the fact that 2011 out-performed 2010 is very good news for a weary real estate market.
Not surprisingly, Tallahassee had the same market activity in this month's report. September's 170 closed existing home sales was down 13% from the 196 posted in August, but up 22% over the 139 closed resales from last year.
Existing Home Sales With Average Prices
When we look at a graph of existing home sales in Tallahassee, we can see that unit sales are trending higher...
The internet has changed the way that homes are sold, and many real estate professionals are not even aware of these fantastic changes. If you happen to be thinking about selling a home sometime soon, this article will show you how the real estate world has changed, why you should understand about selling a home on the internet, and give you some food for thought before you begin the process of interviewing agents for the job of selling your home.
Back in the 1990s, the stock brokerage industry was under-going radical changes, as online discount models were...