There were 380 Lis Pendens filed in Tallahassee, Florida during the fourth quarter of 2010 (up 9% from the previous quarter and up 73% from the same quarter last year) and they are listed below, sorted by Tallahassee Subdivision.
Tallahassee Foreclosures Fourth Quarter 2011
New lis pendens filings in Tallahassee rose a whopping 96% in December when compared to December 2010, and foreclosures rose 32%. We have to be a bit concerned as four out of the past five 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 44%, as we can see with the blue line in the foreclosure graph above.
Tallahassee Foreclosures Filings December 2011
If you have ever used an old fashioned hand water pump, then you remember how much work it can take to get the water flowing. Sometimes you might crank up and down on that old cast iron arm for several minutes and not even get the first drop of water. When one of these pumps had not been recently used, you would "prime the pump" by filling it with water to get it going.
The hand water pump has been around for a long time and is very reliable once the water is flowing. Much more effort is required to get it started than keep it going, and I think it makes for a great comparison to how we should view...
As somebody who tries to analyze, measure, and track every recorded aspect of the Tallahassee real estate market, I am often curious about the impact of the changes we are seeing in the real estate brokerage industry. With the help of the Tallahassee Board of REALTORS® Multiple Listing Service, today I want to take a look at real estate agent productivity and compare it with the amount of years they have been with the Board (experience).
Anybody who has tried to sell a home lately knows just how tough the housing market is right now. There have been more homes failing to sell...
If you study new contracts in the Tallahassee MLS every day, and plot their performance over time, you often are able to produce short-term forecasts for home sales that are relatively accurate. With that in mind, the pending home sales report (new contracts) is projecting a slower 1st Quarter for 2012 than we saw in 2011.
The following real estate graph measures long and short term trends for pending home sales in the Tallahassee housing market. The short term trend analysis usually gives us a glimpse at what the long-term trend will be doing in the next few weeks and months.
As I was waiting for my family to gather to put a movie on last night, I was surfing and came across a show on the History Channel called Pawn Stars. In a day and age when there is a TV show about everything, it came as no big surprise to find a series based upon the daily antics that occur in a Las Vegas pawn shop.
As I watched the episode, it quickly became apparent that every other customer said the same thing. In fact, it is something that I hear all the time in real estate and the Pawn Stars episode makes for a great example. So what were they all saying ...
Home sales in the Betton neighborhoods continue to climb, which is remarkable considering the housing market in Tallahassee is still declining in both the number of homes being sold every day as well as in depreciating home values. This popular Northeast Tallahassee neighborhood currently has 23 homes listed for sale in the Tallahassee MLS, which represents just over 8 months of supply at the current rate of demand.
With all the problems that we read about obtaining financing for real estate these days, it has raised some discussion about just paying cash for real estate. Tallahassee has never been a town filled with people with a lot of excess cash, so I really don't see a new trend towards cash buyers starting any time soon.
Of course, if home prices continue to fall as we expect, there will be more cash-laden investors who come to claim real estate investments in Tallahassee.
Yesterday, I received some feedback and conversation about the article on Foreclosures that I wrote from Sarasota real estate agent Keith Kropp, who shared this interesting statistic:
If you are somebody who tracks Tallahassee foreclosure activity as a way to forecast the future of distressed property sales, then you most likely know that new Tallahassee lis pendens filings are on the rise again. This means that more distressed properties are on the way to join the glut of homes for sale in Tallahassee.
We have been anxiously awaiting the November Foreclosure Report (as we have for the most recent months since the supposed end of the “robo-signing” scandal earlier this year) knowing that the new lis pendens reports will all but forecast the supply side of the 2012 housing market....