Even though the Tallahassee real estate market recovery made a turn for the better two years ago, we are still dealing with a large number of distressed homes for sale that must be sold.
Short sales, foreclosures, pre-foreclosures, REO properties all still exist in abundance, and these distressed properties represent competition to the arms length home sellers who are ready to make a move.
So if you are thinking about selling a home in Tallahassee, make sure the listing agents that you interview are able to walk you though an analysis of the competition that you will face so that you can market your property accordingly.
Distressed Home Sales Report
One question that pops up from time to time on real estate forums relates to the activities of a real estate listing agent.
Typically, a frustrated homeowner who's house has been on the market for some time without an offer wants to know why the agent they hired hasn't shown the home.
When I see this type of question, the one thing that I know for certain is that the homeowner did not understand the scope of the listing agent's mission.
In this article, I have information that shows fewer listing agents are selling their own listings, and moreover, fewer listing companies are selling their own listings, even from their pool of buyer agents.
So what does this mean to you if you are planning to sell a home?
We like to track many different trends in the Tallahassee real estate market, and one that we've written about for many years relates to activity in the golf course communities.
There are four major golf courses in town, and several others that are smaller or municipal. For the purpose of our real estate report, we will address Killearn Golf Course, Golden Eagle Golf Course, Summerbrooke Golf Course, and Southwood Golf Course.
It is around these four that most of the golf-course related real estate sales occur.
Tallahassee Golf Course Communities Update
I was surprised to find that so far in 2015, three of the four golf course communities are showing a decline in home values.
If you think you have a pretty good feel for how things are going for real estate in Tallahassee, you might want to study housing permits and prepare to readjust your thinking.
That's what I just did.
As I was preparing to speak to the Tallahassee Builders Association last week, I studied forty years of population growth trends and compared them to housing unit permit trends over the same period of time.
What I found was illuminating.
What we are building and where it is being built has been changing significantly over the past ten years, and what you think is "normal" will soon be "how things used to be."
With just 8 short years of home sales under it's belt, Observation Pointe has posted its strongest year ever in 2014.
Located in the 32317 zip code on the east side of Tallahassee (south of Buck Lake Road), Observation Pointe is a small community filled with new and like-new homes.
Like several other neighborhoods that were born during the real estate market expansion, Observation Pointe's existing owners might end up all trying to sell their homes at roughly the same time due to normal ownership cycles. This "boom neighborhood" effect is something that we'll keep an eye on for the next several years.
In this report, we will look at prices, values, and sizes of homes in Observation Pointe, as well as show current listings in the ...
I was invited to speak at the Tallahassee Builders Association yesterday to provide my perspective and outlook for the Tallahassee area real estate market in 2015 with emphasis on what I see for new homes.
The discussion seemed to go well, and there was good give and take Q&A after the formal presentation. Afterwards, I promised to post my content online to make it available for TBA members to review.
What a better way to do that than in a summary on the Tallahassee Real Estate Blog?
Tallahassee Real Estate Market Forecast
The following slide show is what was presented to the Tallahassee Builders Association at yesterday's...
Park Charleston is a newer neighborhood located off Miccosukee Road in Northeast Tallahassee, just outside of Capital Circle NE.
Homes became available in 2006 and they are still being built today.
As with all boom neighborhoods, existing home sellers are on similar move cycles causing existing home sales to both compete with varying motivation levels as well as with ongoing new construction.
In this report, we will look at prices, values, and sizes of homes in Park Charleston, as well as show current listings in the Tallahassee MLS and all closed home sales going back to the beginning of...
Killearn Estates is the iconic cornerstone of Northeast Tallahassee neighborhoods.
It began in the 1960s with the purchase of land from Velda Dairy Farm and was the first master planned community in Tallahassee. It features underground utilities, parks, lakes and a golf course as its centerpiece.
The homes in Killearn Estates were built from the 1960s to present day, though most were built 20 or more years ago. This means that there are plenty of great values (a lot of home for the money). Additionally, opportunities for buying and upgrading older homes on mature lots are an option for those wanting a newer home without the higher costs of building new today.
In this report, we will look at prices, values, and sizes of homes in Killearn Estates, as well as show current listings in the ...
Killearn Lakes Plantation and its conjoined subdivisions make up the hottest neighborhoods for home sales in Tallahassee.
Whether its the A-rated schools, the walking and nature trails, the Tom Fazio golf course, or just the style of the homes, Killearn Lakes is a destination considered by homebuyers for years.
Due to the segmentation of Killearn Lakes in the Tallahassee MLS, it "only" shows up among the top 3 neighborhoods each year. But when you include all of its enclosed communities (Deerfield Plantation, Deerwood Plantation, Golden Eagle Plantation, Killearn Commons, Kinhega Landing, Kinhega Oaks, Pine Landing, Scotswood, Seven...
If you are looking to spend around $200,000 to live within the highly sought-after Thomasville Road corridor in Tallahassee, perhaps you should consider Royal Oaks.
As the name suggests, you'll find majestic oak trees that hide larger than average homes.
With home prices low and mortgage interest rates low, this might be the ideal time to move up to Royal Oaks without putting a big dent on your cost of living.
In this report, we will look at prices, values, and sizes of homes in Royal Oaks, as well as show current listings in the Tallahassee MLS and all closed home sales going back to 2002.
Royal Oaks Home Prices
For each of...