New lis pendens filings in Tallahassee fell 50% in May when compared to May 2013, while foreclosures fell 46%.
The continuing decline in new lis pendens filings is wonderful, and the decline in foreclosures is very good news as well. The large amount of lis pendens filed in the past must clear the market now as foreclosures. Lis pendens filings continue to form a new six year low.
The blue line in the graph below shows that there are more foreclosure sales than lis pendens filings, meaning we are truly working through the distressed properties now and their numbers will soon be declining greatly. There is still way too much distressed property activity, but the latest market trends are positive.
This is a list of properties that received a lis pendens filing in Tallahassee, for the week ending 5/31/2014. 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.
|810 SAINT MICHAEL STREET CONDO
||810 ST MICHAEL ST
Back in the old days, you could buy a map of Tallahassee neighborhoods from most gas stations in our area.
In fact, in 1991 when I first got into the real estate brokerage business, I purchased one of these maps and visited every single subdivision identified on the map. Even though I was born and raised in Tallahassee, there were so many areas that I had never seen, and I knew I had to become familiar with them all.
But now it is 2014, and the internet has brought forth so many tools that have replaced much of our traditional resources, so how do you find a map of Tallahassee neighborhoods to replace the paper solution of the past?
Google Map Of Tallahassee Neighborhoods
You might have noticed a change around town, as there is a new Tallahassee real estate company
on Thomasville Road.
Joe Manausa Real Estate is open for business, and it is located at 2066 Thomasville Road in Tallahassee
So you might be wondering why I would switch to a brand new real estate company in Tallahassee, and the reasons are exciting.
A Tallahassee Real Estate Company
I am in my 23rd year in the real estate brokerage business in Tallahassee
, and I have been affiliated with a few different organizations.
In the past, I felt a great need to be "branded," meaning to be affiliated with an organization that had international reach. The perceived benefit was two-fold:
- Information about the real estate industry would be "pushed" to me...
As we approach the end of May, I was curious to see which Tallahassee subdivisions were getting the most attention from homebuyers.
It turns out the neighborhoods that we typically see as most active still are … but they are in a different order in 2014.
Currently, the top selling area in Tallahassee is Killearn Lakes Plantation, and the number two is not the one you might expect.
Top Selling Tallahassee Subdivisions
The average price of a home in Killearn Lakes Plantation in 2014 has been $196,000 ($113 per square foot of heated and cooled space), which is a good bit lower than the second most active neighborhood.
The May Pending Home Sales Report from the National Association of REALTORs will not be released until June 30, but I can give you a heads-up for a Tallahassee edition today.
Long time readers of the Tallahassee Real Estate Blog have seen us scrutinize pending home sales since we began writing here, knowing that the count of "new contracts" is one of the most relevant statistics regarding the health of the housing market.
Understanding the ever-changing relationship between supply and demand helps us determine value movement, and nothing gives us a clearer picture of "demand" than by observing the new contracts posted in the MLS.
It's a shame the ...
Happy Memorial Day Tallahassee.
For all our readers that are foregoing the beach today in order to buy a home in Tallahassee, we have provided a quick market overview.
While this summary will give you an important understanding of the current price and value trends in Tallahassee, it is by no means a substitute for a highly trained real estate buyer's agent.
Take heed, working with an expert will save you money.
Memorial Day Home Prices
Whether you are looking to buy a condominium, a townhouse, or a single...
There was an interesting article on MSN Real Estate recently which outlined the amount of homes around the Country that are still underwater and thus are holding back the real estate recovery.
People who were first time homebuyers five to ten years ago should be "trading up" right now to a bigger, pricier home, but the collapse of the housing market has trapped many of them in place.
This large group of historically reliable buyers is missing from today's housing market, leaving us with lower demand, so their trap is our trap to share.
Fortunately, there is a way out of the trap for those that are paying attention.
When you are interviewing listing agents for the job of selling your home, you'll have that one smooth-talker who says "list with me, I have my own buyers."
Consider this your warning.
List with this guy, and you will almost certainly leave money on the table.
Wanna know why?
The Smooth Talker Reels You In
Long time readers of the Tallahassee Real Estate Blog know that I advocate interviewing multiple agents when you decide to sell your home.
The reason is that first of all, you want to ensure that you are getting the best...
This is a list of properties that received a lis pendens filing in Tallahassee, for the week ending 5/21/2014. 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.
||1312 MELVIN ST
||1912 SUNSET LN