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Tallahassee Monthly Lis Pendens Filings February 2011

New lis pendens filings in Tallahassee dropped 48% in February when compared to February 2010, and foreclosures fell 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 57%, as we can see with the blue line in the foreclosure graph below.

Tallahassee Foreclosures

Tallahassee Foreclosures...

Tallahassee Foreclosure Filings February 28, 2011

Tallahassee Foreclosures Filings February 28, 2011

Subdivision/Location Address Sqft Age Date Tax Value
APALACHEE RIDGE 922 KENDALL DR 1,056 1993 2/24/2011 $73,284
ARBOR HILL 3255 ARBOR HILL WAY 1,472 1982 2/24/2011 $124,837
BYRD 5009 HENSLOW LN 1,280 1995 2/24/2011 $38,662

Home Values Plunge 91.48%

Home Values Plunged 91.48% ... or that is what you might believe if you were unfortunate enough to trust the journalism standards of Yahoo! Finance. In what can only be described as gross negligence, Yahoo! published an article from US News and World Report on what it felt was the top 10 bargain retirement spots in the US.

According to this work of fiction, Tallahassee is the 2nd best city for retirees to buy a home because our home values dropped "91.48%"  between 2009 and 2010. In her story from 2/22/2011, Emily Brandon states

Housing prices are declining fastest in Portland, Ore. (-92 percent), Tallahassee, Fla. (-91 percent), and Tucson, Ariz. (-88 percent)....

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Numbers Don't Lie, People Do!

Numbers Don't Lie But People Do Lie ImageWe had a lot of feedback on yesterday's blog (Did You Hear What They Say Is Next?) which was a commentary about the garbage being spewed by the NAR and how it is having a negative impact on the credibility of the real estate professionals who perform a valued service by reporting on local real estate market conditions. Basically, it was a rant about putting an end to the "now is the time to buy" style of yapping that our industry lobby has eschewed every year, regardless of market conditions, regardless...

Did You Hear What They Say Is Next?

No They PictureThey say that now is the time to buy (if they have something to sell). They say two out of three aint bad. They say that "where there's a will, there's a way," but I suspect that this is just a marketing conspiracy created by estate attorneys.

They say that the early bird gets the worm (but my son Max asked "what about the worm?"). They say that 80% of the work is done by 20% of the people (which I have disproved for the real estate profession in an analysis of closed sales two years ago). They say that "love don't pay the rent," but they might not have visited a (well, you know).

The point is, "they" say a whole lot of things, and as a society we have learned to accept...

Tallahassee Hosts 107,127 Visitors From 181 Countries

Real Estate Global Marketing Plan ImageDuring these difficult economic times, we are pushing hard to maximize the exposure of our properties on the internet by promoting them worldwide as the best homes for sale in Tallahassee. This might seem like a typical and shallow claim made by many real estate companies, but we have the facts to back it up. We have received 107,127 visitors from 181 countries to the properties on our Tallahassee real estate web site, and we get visits from over 100 different countries every single month.

This is no accident either. We believe that...

Don't Let Summerbrooke Home Values Fool You

Best Buy In Summerbrooke ImageThere are a handful of Tallahassee neighborhoods that I take the time to write about on a quarterly basis due to their significance in number of annual home sales or amenities, and Summerbrooke is a Northeast Tallahassee subdivision that I have included in this list for several years. The combination of location (NE) and amenity (Golf Course) make this one to watch.

While I am not partial to the Summerbrooke golf course (too narrow for my wide tee shots), there are many spectacular homes located in this upper-end ...

Tallahassee Foreclosure Filings February 21, 2011

Tallahassee Foreclosures Filings February 21, 2011

Subdivision/Location Address Sqft Age Date Tax Value
BLOXHAM HEIGHTS 1632 HIGHLAND ST 1 2,800 1971 2/15/2011 $95,050
EASTGATE 2541 LEMON LN 1,447 1974 2/18/2011 $133,317
KILLEARN ESTATES 3141 SHAMROCK ST S 2,025 1973 2/21/2011 $199,885

Getting A Home Sold In 2011

Getting-A-Home-Sold-In-TallahasseeRegardless of the economy, we can usually expect to see the most activity in the Tallahassee real estate market from late February through June, as this early part of the year has historically shown to be most fruitful. This is important information in regards to getting a home sold in 2011, because the prospects for a full housing market recovery have been laid to rest.

Note: The Tallahassee Real Estate Newsletter was sent to subscribers this morning. If you did not get a copy, just...

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