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Tallahassee Monthly Lis Pendens Filings June 2010

New lis pendens filings in Tallahassee dropped 52% in June when compared to June 2009, and but foreclosures went up nearly 200%. This indicates that banks are more willing to proceed on mortgage foreclosures than they have been in the past, but it also might be a signal that distressed properties and mortgage defaults might be finally starting to slow. Currently, the foreclosure sale to Lis Pendens filings ratio is at an all time high of 37%.

Graph-of-Tallahassee-Foreclosures-and-Lis-Pendens-Filings

In the real estate graph above,...

Tallahassee Foreclosure Filings June 30, 2010

Tallahassee Foreclosures Filings June 30, 2010

...
Subdivision/Location Address Sqft Age Date Tax Value
ADAMS PLACE CONDOMINIUMS 3000 S ADAMS ST 1,037 2005 6/25/2010 $82,960
AUTUMN WOODS 5661 OLD HICKORY LN 1,088 1979 6/25/2010 $110,820
BRADFORD BROOK 1123 COTTONWOOD LN 6/22/2010 $20,000
BROCKSWOOD PARK 1206 LUCY ST 1,765

Tallahassee Condo Sales June 30, 2010

When we look at year to date sales of condominiums and townhouses in the Tallahassee real estate market, we get a feeling that things are nearly “back to normal.”

After all, unit sales appear to be at pre-boom levels, so why shouldn’t we rejoice in a market segment that is posting the same number of sales as was recorded in the past?

Attached Housing Is A Value Issue

The fact is...

Florida Real Estate Law Changes July 1, 2010

Florida real estate law will see modifications effective July 1, 2010, as many of the 274 new laws passed during the 2010 legislative session take effect at the start of the new fiscal year. Of these many new laws, two (2) will have an impact on how the Tallahassee real estate market is regulated.

Short Sales Get Partial Doc Stamp Relief

The new Florida real estate law dealing with short sales lowers the amount of state taxes residents pay when they sell their homes through a short sale (the sale price is less than the outstanding debt). The state will not collect taxes on the canceled debt, or the difference between the sale price and what is owed on the house.

Currently, short sales have become...

Tallahassee Condo And Townhouse Reports

It has been quite some time since we have reported on Tallahassee Condo and Townhouses, so today will serve as an update on this ever-growing segment of the Tallahassee real estate market.

If you are in the market to buy a Tallahassee Condo, you need to understand the diversity of what you will find and the basis of value around town. You need to decide if you are looking for a student condo (condo and townhouse will be used interchangeably for the purpose of this report), a downtown Tallahassee Condo, or if you are just looking for great affordable living space.

Condominium...

Lot Values In Tallahassee Are Normalizing

As I was assembling the Tallahassee Real Estate Newsletter this morning, I found an interesting comparison between lot values in Tallahassee and mobile home values. Over the past 20 years, these two market components have run a very similar course, but all of that changed during the real estate boom several years ago.

When the housing market went crazy, mobile home values went higher as well, though not proportionately the same as homes and land values. The same seems to be true as the market recovers. Mobile home values continue to fall, just like the rest of the real estate market in Leon County, though not as dramatically as everything else.

We are seeing a normalization...

BP Oil Spill Has Not Hit Tallahassee

We are fortunate that the BP oil spill has not yet hit Tallahassee (not the economic effects). Last week I wrote a quick article from Cape San Blas, Florida while my family and I spent two days there. I noted that I had never seen the beach look better and there was absolutely no oil on the beach at Cape San Blas.

Since that article, I have received numerous emails and comments from readers who apparently live in other parts of the country (and world) and would like updates on BP oil spill and how much it is affecting the beaches. Additionally, I've had a few questions asking if the oil spill has reached Tallahassee.

Picture Of BP Oil On Google...

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