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Tallahassee Real Estate Blog

7 Different Views Of The Tallahassee Housing Market

The year is half-way over and we've been tracking the market activity on a near-daily basis over at The Market Bulletin. With the summer buying season well on the way, the market is starting to see activity from buyers who are taking advantage of the First Time Homebuyer Tax Credit. We know this because are seeing sales increase in the price ranges most often purchased by First Time Homebuyers. Unfortunately, the rest of the market is not seeing a whole lot of vitality. Homes that are aggressively positioned in the market are doing quite well (we have one home that had 6 offers on it last week and we negotiated a contract at a price higher than what the seller was asking), but for the most part, the rest are stagnant. Today is real estate graph day ... with 7 updated graphs of the Tallahassee real estate market.

81% Of Homes On The Market Fail To Sell

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Who Pays The Closing Costs In A Real Estate Transaction

I recently came across a question by a reader who was wondering "who pays the closing costs in a real estate transaction." This question, or a form of it, is answered by real estate professionals on each and every transaction that occurs.

First of all, real estate closing costs are the fees, costs, and taxes (over and above the price of the property) that occur when real estate is transferred from one party to another. The conveyance of real estate is initiated and directly by a contract for sale and purchase, and closing costs should be specifically identified in this document. So how do you know who pays what?

Real Estate Closing Costs Are Identified In The Sales Contract

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The Best Of The Tallahassee Real Estate Blog

Visitors To The Tallahassee Real Estate BlogAnybody who has been following the Tallahassee Real Estate Blog for any amount of time knows that I have a habit of getting a bit too analytical at times. Well, that habit does not just apply to the Tallahassee real estate market, it also applies to this real estate blog.

I have tracked the number of readers coming to the Tallahassee Real Estate Blog pretty much since the very first post. Perhaps the earliest surprise that I found was that many of our visitors were from outside of the Tallahassee real estate market.

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Frustration For Those Trying To Buy A Short Sale

All too often, we see homebuyers who are "looking for the deal" get involved trying to buy a short sale in Tallahassee. A short sale is when the home owner and the lender(s) for the home owner agree to sell the home for less than what is owed on the home. But as this reader found out, it's not as easy as just making an offer and proceeding to closing.

This frustrated short sale buyer writes:

My wife and I are trying to buy a short sale. We made the highest offer (full price), we were the 1st offer in and have an escalation addendum to bring it up another 12k. The realtor convinced the selling family to choose another offer, for a lesser amount! We are going fha and they are conventional so they went with them (I bet it is a friend to friend deal). I NEED HELP...Does anybody have a...

Predicting The Housing Market Turn

After reading The State of the Nation's Housing 2009 from the Joint Center for Housing Studies of Harvard University, it became clear to me that much of the rest of the country is already seeing some signs of a housing market turn. More importantly, it made me fully aware of the fact that many learned people are seeing reasons why it should and will be occurring.
But how do you predict the turn of the housing market in Tallahassee? There are so many factors involved that you cannot simply point to any one factor, so I thought I'd summarize why I think I know when the turn will begin.
First of all, the problems that we are seeing in the housing market are bundled with all the other financial problems that are happening at the same time. The financial markets...

The State Of The Nation's Housing 2009

State Of The Nations Housing 2009Every year, the Joint Center for Housing Studies of Harvard University puts together a report on the State of the Nation's Housing. This year's report was published a few days ago and I thought I would share some of the key findings of the report.

Note: You have found the 2009 State of The Nation's Housing By Harvard University. You can see newer reports for the ...

Are We Seeing A Rebound In Golden Eagle Home Sales?

It has been a few months since we updated the status of home sales in Golden Eagle Plantation. For those readers new to the area (or new to this blog), Golden Eagle Plantation in Tallahassee is a golf course community that features a highly regarded Tom Fazio golf course and is the center of Killearn Lakes Plantation.

Home sales in Golden Eagle have fallen roughly 70% from the peak of the market, with a monthly average of just under 2 home sales (existing home sales). This mirrors home sales very closely in the rest of the Tallahassee real estate market.

Sales prices have held much better than the rest of the market, with square footage prices down only 7% since the peak of the market in August...

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