New lis pendens filings in Tallahassee rose 14% in May when compared to May 2012, and foreclosures rose 124%.
The rise in new lis pendens filings follows three declining months in a row, which we were hoping to be the start of a very positive trend for distressed property creation in Tallahassee. Apparently, that is not the case.
The 141 foreclosures that occurred in May is far more than the 97 that were recorded last month! Both these increases are not good news, as it appears we are far from the finish line in this housing market recovery.
The blue line in the graph below shows that roughly 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 May 31, 2013: This is a list of properties that received a lis pendens filing in Tallahassee, for the week ending 5/31/2013. 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.
I was out on my morning walk and happened to pass by a home for sale, and my workout partner (not a real estate agent) pointed out that the home was brand new to the market.
He plans on buying a home in the neighborhood where we walk sometime in the near future, so he really has a strong idea about the value of every home for sale in the area. In fact, he has taken our "Home Buying For Smart People e-Course", so he's positioning himself to buy smart when he does find the right home.
So as we walked by that new home for sale, he joked that "he's a stalker" and already knew about the house. He added that he might...
If you are thinking about selling a home, you might want to take a lesson from the makers of the Yoshi Blade.
For those few readers who were never touched by the Yoshi Blade marketing steam roller, it is a simple, cheap ceramic knife that was mass-marketed through all the prime internet based channels.
Most people were drawn, at one point or another, to check out the video of this miraculous cutting utensil.
In my series of articles about new construction in Tallahassee, I plan on interviewing a custom home builder or two in order to get their view of the market and any good guidance that we can glean.
Yesterday, I spoke with Lenny Brantley of Brantley Custom Homes who has been a custom home builder in Tallahassee for more than 20 years.
I asked him to tell me something that our readers probably do not know, and then to share any insights he might have. What he shared was a whopper!
Custom Home Builder: We Are Scared Of The Market!
A few weeks ago I wrote a blog post titled Does Credit Repair For Homebuyers Really Exist? which was the first in a sequence of posts that will serve as a case study about credit repair services.
With the high number of people who recently had to sell a home as a short sale, the US is facing an epidemic of credit disrepair among people who formerly proved to be highly credit worthy.
I want to find out whether or not credit repair services actually help you improve your credit ratings, or if they are just selling snake oil.
Credit Repair Case Study Review
As a reminder,...
Since the beginning of time, homebuyers needed a real estate agent for a proper house search.
If you really wanted to know about all the home listings in Tallahassee, you had to work with a seasoned real estate veteran to find everything available.
Even when the internet blossomed full of property search tools, in reality, it took a REALTOR to tell you which ones were really still for sale.
Introducing A New House Search Tool
The biggest frustration we have heard from homebuyers trying...
I was talking with an agent yesterday about a real estate counter offer he received, and he was scratching his head wondering what the home seller was thinking.
Now I've seen this sort of thing for more than 20 years in the Tallahassee real estate market, but I still lack the words to explain to an agent why somebody would make such a tactical blunder when selling a home.
If you are want to sell a home and get top dollar, you should really focus on the bottom line when you counter a real estate offer.
Bottom Line On The Real Estate Counter Offer
Now that the housing market is showing signs of recovery in most regions of the US, I expect we'll see higher activity among people seeking to get a Florida real estate license.
I'll be the first to admit that it takes very little to become licensed to sell every type of real estate in Florida, but there is a process that one must complete.
There are a few different ways to get a Florida real estate license, and this article covers them in enough detail for you to recognize both "what it takes," and why you should be highly selective when choosing...