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More From The Joe Manausa Real Estate General Assembly

This is my fourth Convention. I get to see and meet people, share best practices - maybe even get a referral or two? So, I guess you could say "San Antonio here I come!" – Now, I don’t know about you, but I sure am interested in seeing the marketing presentation after Suze Orman.

As a reminder for those who subscribe to the Tallahassee Real Estate Blog by email, some embedded pictures and videos might not be appearing in your email and you might need to click the title header to go to your browser where all will be visible.


Joe Manausa Real Estate General Assembly

Well, I'm live from Orlando at the Joe Manausa Real Estate International Convention. Either that was really great coffee this morning, or they got this thing going with a bang!

You wouldn't believe what some of the great Joe Manausa Real Estate Companies are doing worldwide, but they are here getting all kinds of awards. Apparently, not everyone reads the newspapers about "the market." I know there are a lot more awards and presentations to come. I think it’s time for the technology awards. Now that’s my kind of people…


Joe Manausa Real Estate International Convention

Well, I'm hitting the road to go to the Joe Manausa Real Estate International Convention. I am the "featured system blogger" for Joe Manausa Real Estate and will be presenting a live blog tomorrow and Saturday from the convention General Assembly. I enjoy the conventions because I get to meet with real estate professionals from outside of the Tallahassee real estate market. The networking is great, but the real value is talking "best practices" with some of the best minds in the business. This is a short blog submission due to travel, but I will leave you with a link to our new neighborhood page on our website. Over the next year, we plan on featuring as many Tallahassee neighborhoods as possible. Enjoy.

As a reminder for those who subscribe to the Tallahassee Real Estate Blog by email, some embedded pictures and videos might not be appearing in your email and you...

Leon County Median Sales Price Drops (Barely!)

There has been much discussion about the Tallahassee real estate market, specifically on the number of residential units that are selling and how home prices are moving. There appears to be a consensus that home values have remained relatively stable in the past (our market saw a decline of .25% of the median home price last year), but we are not seeing prices start to adjust downward. A chart of the residential real estate sales in the Tallahassee real estate market shows this: From the chart above, we can see unit sales dropped, as expected, off of the highs of the boom market. When we segment the residential market between attached and detached housing, we get the following charts. We can see that the average "attached housing unit" saw a greater drop in the median price than did the attached units. It will be interesting to see the progress of the market in the coming months and years. So, where do you think the median price is heading?

As a reminder...

Eastgate Neighborhood In Tallahassee, Florida

A reader recently asked me to provide some market information about a great neighborhood on the Northeast side of the Tallahassee real estate market. The Eastgate subdivision sells for just below Tallahassee's median price and therefore should always be a highly sought-after neighborhood. The first thing I like to look at when checking out an area is what I refer to as a "market snapshot." The following graphic shows us quite a bit about what is happening in Eastgate. From a supply standpoint, Eastgate is doing better than the average neighborhood in the Tallahassee real estate market, in that it only has 8.7 months of supply of homes on the market. From the chart above, we can see that the homes on the market are priced well below the homes that failed to sell in the past year, but also below homes that sold in the past year. This looks suspiciously like prices are dropping in Eastgate. When we look at the long-range history...

Ultimate Tallahassee Real Estate Buyers' Resource

At Joe Manausa Real Estate, we know that the process of buying or selling a home can be filled with apprehension. For most people, a home is the most significant financial undertaking of their lives. A home is also, coincidentally, their greatest emotional asset. When you contrast that against the subprime crisis, the volatility of the global financial markets, the spiraling price of oil, and talk of a pending recession, it's easy to understand why many consumers are taking pause regarding their home ownership goals and aspirations.


Rent Versus Ownership - A Tallahassee Real Estate Case Study

I have written numerous blogs that have looked at the performance of different Tallahassee Subdivisions and have concluded each blog article with how the average home appreciated from 1991 through 2007. The following table summarizes each Tallahassee neighborhood that I have reviewed lately:

As you can see, all of the neighborhoods have performed well. With appreciation rates from 4.5% to 7.5%, the Tallahassee real estate market has done wonderful. Loaded with this information, I would like to demonstrate why home ownership in the Tallahassee real estate market is the single-greatest investment that a family can make. It blows away the stock market, and for most families, it is by far the smartest investment that they can make. In order to perform this analysis, we will look at a fictitious family, living in a fictitious...

Tallahassee Real Estate Market - The Past 68 Quarters!

Often hear that the Tallahassee real estate market is cyclical, but sometimes a picture will show us much more than mere words can communicate. I decided to pull residential sales in the Tallahassee real estate market from 1991 to the present (December 2007) in order to see what long-term trend could be found. The following graph shows unit sales and average prices of residential properties (single family homes, town houses, & condominiums), reported quarterly. This chart clearly shows an uptrend in both price of properties as well as the number of units selling in the Tallahassee real estate market. The light-blue shaded area represents the average price while the dark blue line is the linear trend of average price over the past 17 years. Similarly, the red shaded area represents the number of units sold each quarter and the red line represents the unit sales trend. We can see the affect of seasonality each year in the red shaded area, as there are peaks and valleys corresponding to the different...

2007 Residential Sales

A friend of mine was curious about the Tallahassee mobile home market. He wanted to know how much of an impact it was having on the overall Tallahassee real estate market. I went to the tax data base and pulled all Leon County residential unit sales and first sorted it by unit type and by price range. The following graph shows that the mobile homes are very active below $150,000 (red color). In order to best see it's impact on the market, I felt a simple part chart would tell the tale. Each piece of the pie chart below has two numbers in this format XXX, Y%. X stands for the number of units sold, where Y stands for the percent of the entire market. In the chart below, the red pie piece shows 447 mobile home sales were recorded, representing 9% of the entire Tallahassee Real Estate Market. Finally, we can take a look at the past 17 years of tax records and we find that the mobile home sales are increasing at a fairly substantial rate. The chart below shows, for each year, the number of sales of mobile...

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