New lis pendens filings in Tallahassee fell 21% in April when compared to April 2012, and foreclosures fell 55%.
The decline in new lis pendens filings is a continued relief, and it is the third declining month in a row. The 97 foreclosures that occurred in April is far less than the 251 that were recorded last month! Both these declines are great news, but we are far from the finish line in this housing market recovery.
The blue line in the graph below shows that nearly 2/3rds of all filings are ending up in foreclosure sale, possibly indicating that banks are approving fewer short sales and are willing to take the property back in order to sell it themselves.
Tallahassee Foreclosures Filings April 30, 2013: This is a list of properties that received a lis pendens filing in Tallahassee, for the week ending 4/30/2013. Most of the properties on this list will eventually show up in our market as short sales or as a foreclosure sale at the Leon County Court House.
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I have always loved owning a house with a pool, it just seems to be the crowning jewel for a family home.
There's something to be said about coming home on a hot steamy day and jumping in the pool for a chance to cool off.
I know that it is a bias that I have that is not shared by all others, but there is evidence that owning a Tallahassee house with a pool is a smart investment as well.
Stronger Value Owning A House With A Pool
Our most current data shows that the typical house with a pool in Tallahassee is selling for $255,000, while the typical house without a pool is selling for less than $171,000.
If you are thinking about selling a home in Tallahassee, you will want to keep an eye on the quality of real estate contracts for homes like your own.
You see, not all real estate contracts are created equal, and the quality of what is in writing very likely will determine whether or not you get your home sold.
Before you brush this off as trivial, would it surprise you to find out that just 1 in 3 real estate contracts makes it to closing and the trend is on the decline?
Poorly Written Real Estate Contracts
We monitor the trend of home sales recorded to real estate contracts written in the ...
Several times each year, I like to analyze the current trend of home sales price compared to initial asking price.
Some people look at this "spread" to determine the discount in the market, but I do not think that is what it reveals.
I believe the discount between final sales price and initial asking price, when measured against the full field of sold homes in a market area, shows the level of motivation of home sellers in general.
The Importance Of A Home's Initial Asking Price
The biggest mistake among home sellers who fail to get top dollar for their home occurs when they ...
After yesterday's article about hiring a contractor in Florida, I received an interesting question from a reader who asked if now was the time to build a new home.
In fact, he was a little dismayed and felt that I was changing direction too swiftly, having written fairly recently about the huge new construction premium that buyers are paying for the right to live in a newly constructed house.
So I felt today would be prime for a follow-up article about determining the optimum time to build a new home.
I've had several clients ask us to recommend them to a top Contractor In Florida lately, and I think it might be a sign of a changing level of confidence among home buyers.
While I still strongly recommend that buyers exhaust all options with existing homes for sale in Tallahassee, there are some that are just going to want to build.
Therefore, we are launching a new e-series about home building and hiring a contractor in Florida.
Hiring A Contractor In Florida
If you are getting ready to start marketing your home for sale, you are probably curious about how to sell a home in 2013 and specifically what needs to be done to outshine your competition.
No matter the market conditions, there are homes that are similar enough to yours that become your competition whenever one hits the market or when one changes their asking price to your present price. It is these similar homes that you must "out market" if you want to get top dollar for your home.
With that in mind, I received an email this morning that advised me that "72% of consumers prefer print!" and that magazines deliver ads to a very specific market. Seriously!
As we approach the end of April, it appears as if a new trend is forming for distressed homes in Tallahassee.
We use the term "distressed" when we refer to properties where the homes are being sold under "other than normal" conditions, such as short sales, ...