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Tallahassee Real Estate Blog

Home Sellers, Is It Time To Raise Your Asking Price?

As part of my diligent effort to seek and find new trends in the Tallahassee real estate market, I do a weekly analysis of every single listing (home for sale) in the Realtor MLS.

Lately, I have noticed that about one in every eight homeowners is choosing to raise their asking price when they come back onto the market after having failed in the past.

The logic of this has me at a loss ... what are they being advised? How does that chain of thought go ... "Nobody wanted your home when you had it listed for sale for $250,000, why don't we try to see if it will sell now for $270,000?..." Seriously, do you think that having your home comparing to nicer homes on the internet will make it appear more attractive to buyers?

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We Made The Real Estate News In Tallahassee

I was interviewed by TaMaryn Waters at the Tallahassee Democrat this past Friday regarding the current state of the Tallahassee real estate market.

The interview is shown in the video below (it starts right away when you load the full article), and I share some information about both the Tallahassee housing market and the overall Florida housing market as well.

Most people do not realize it, but the Florida residential real estate market is likely going to record the most home sales every this year. That's right, based upon the number of homes that will sell in 2015, the real estate recovery is completely over in Florida, though home values have not yet returned to peak values in most locations.

Real Estate Video With TaMaryn Waters

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Piney Z Home Sales Report June 2015

One popular NE Tallahassee neighborhood that is in for a wild ride over the next ten years is Piney Z.

First of all, there are a lot of attractive amenities that will draw people to this small community located off of Conner Blvd.; including newer homes, a lake, Tom Brown Park and Lincoln High School. 

The access to pools, lakes, parks, and the lodge provides lifestyle benefits that cannot be found in every Tallahassee neighborhood, so projecting continued demand for this area is easy to do.

But the graphs included in our report below also show great potential for pent-up supply that very well could overwhelm demand and put a strain on home values. If you look at all the purchases from 2002 through 2005 (when all the homes were new) and contrast it to all the home sales since, you can see the majority of residents in Piney...

Golden Eagle Plantation Home Sales Report June 2015

If you are looking for some of the finest homes in Killearn Lakes Plantation, then head to its center where you will find Golden Eagle Plantation.

As Tallahassee's only gated, golf-course community, the privacy and lifestyle are a consistent draw every year. And it's not just any golf course, Golden Eagle features a Tom Fazio golf course that is considered to be one of the finest tracts in North Florida. Around the course, you will find roughly 700 large homes that have many of the features and amenities that you would expect to find in a luxury home community.

In this report, we will look at average home price trends, home value trends, as well as home size trends in Golden Eagle Plantation. Additionally, you can look through all the Golden Eagle homes currently...

Sell Your Home Alone (Without A Real Estate Professional)

As the real estate market continues to improve in most US cities, I'm seeing more and more articles from real estate agents that tell homeowners that they cannot sell a home alone (FSBO - For Sale By Owner).

They go so far as to include statistics showing how few homeowners succeed in selling their home on their own, and you just have to know that these statistics are fully contrived nonsense.

Think about it, do you think there is a national database of all For Sale By Owners which is updated to include sales and failures? Not a chance. I know that "they" are not counting accurately in Tallahassee, so I'm guessing it's not being done elsewhere either.

A homeowner can certainly sell a home without a real estate agent.

So the real issue for homeowners who are thinking about selling is whether or not they will put more money...

Glen At Golden Eagle Home Sales Report June 2015

The Glen at Golden Eagle is a popular NE Tallahassee neighborhood containing homes built between the years of 1997 and 2006. They are popular for people who want all the nicer amenities found in the large homes in Golden Eagle Plantation, but situated in a smaller package.

These homes are very typical of what you will find in zero-lot line neighborhoods surrounding golf courses throughout Florida, and they maintain strong demand for those interested in being very near a golf course and the country club lifestyle. They are also popular among families who want their children to attend A-rated schools like Killearn Lakes Elementary, Deerlake Middle School, and Chiles High School.

If you want to see what residents are saying about the community, you can always checkout the Glen at Golden...

Killearn Acres Home Sales Report June 2015

If you are looking for a popular community that features homes priced at and just above the median home price in Tallahassee, look no further than Killearn Acres.

Serving as the northern edge of Killearn Estates, Killearn Acres has the homes that people want to own in an area where people want to live. As more than half of all home sales recorded in Tallahassee fall in the NE quadrant, you can expect Killearn Acres to get a lot of attention as the housing market recovery picks up.

Due to the size and features of the homes here, Killearn Acres is popular with both first-time home buyers and investors who are seeking stable rents with long-term property appreciation.

In this report, we will examine recent trends for home prices, home...

Why You Must Sell A House Fast To Get Top Dollar

Back in the days before the internet in real estate, if you wanted to sell your home fast, you likely were going to leave money on the table.

Marketing methods in the past took many months to engage (from planning to production to publication) that a home seller seeking a speedy sale needed to cut her price so severely that price alone would attract a buyer from the local community. "Hey, did you hear Mary is only asking $165,000 for her great mid-town home?" Word of mouth would find the ears of somebody looking for a deal.

But times change.

Today, we know that the buyer most likely to pay top dollar for a home is already educated on home values in the neighborhood, and that means we can sell a house fast and fetch top dollar for it all at the same time.

Marketing...

Bull Run Home Sales Report June 2015

Low interest rates have many buyers looking at newer homes, even if they do not represent the same value as their existing counterparts. There is just something special about being the first to live in a home, and that attraction will always draw some of the buyers away from the resale market.

On the NE side of Tallahassee just west of Thomasville Road, Bull Run is the fix for the new-home seeking junkie.

And like the rest of Tallahassee's "boom neighborhoods," where all homes built from 2004 through present, don't be surprise when this neighborhood has significant issues with pent-up supply as so many of its residents will be needing to move (if they get there at the same time, normal cycles have them moving on a similar schedule).

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Tallahassee Foreclosure Report June 2015

The number of distressed properties in Tallahassee is finally on a healthy decline, perhaps a sign that a healthy rate of real estate appreciation will return.

In order to assess the distressed property market in Tallahassee, we must look at what has happened in the past, what is happening now, and what current trends indicate will be happening in the near future.

Our report includes an analysis of lis pendens filings through May 2015 (a lis pendens is usually filed as a start of the foreclosure process), all foreclosure sales through May, and a look at the ratio of lis pendens that ultimately convert into a foreclosure sale.

Lis Pendens In Tallahassee

Our first graph is a monthly measurement of lis pendens filed in Leon County, Florida.

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