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Tallahassee Real Estate Blog

HR 3221 - Good For Tallahassee

Good Deal ... Bad Deal ... We'll See

Fannie Mae and Freddie Mac had a good day yesterday, did you? Overall, I think Tallahassee had a good day with this bill being signed by President Bush yesterday. Tallahassee is a town that historically is very active in loans guaranteed by Fannie Mae and Freddie Mac (government loans) so the fact the financial reinforcement has been provided means that Tallahassee home buyers will have their "normal" sources of mortgage funds. Now, back to Fannie and Freddie, it seems they got much of what they asked for, and a few things they did not:
  • $300B (B as in Billion) to expand the Federal Housing Administration (FHA) loan guarantee programs (yeah)
  • A 1-year moratorium on "risk based" pricing (boo)
  • A $7,500 tax credit for first-time home buyers (requiring a repayment schedule...

What Is The Difference Between Pre-Approved And Pre-Qualified

Pre Qualified vs Pre Approved Mortgage LoanToo often, we work with people who want to buy a home in Tallahassee who do not understand the importance of being a strong buyer. They believe that due to the nature of the market, they have thousands of homes from which to choose so they can just go out and "shop."

But that is not the case in the Tallahassee real estate market. As a matter of fact, that has never been the case in just about any real estate market. You see, the inventory of homes for sale in Tallahassee is quite large, but it can be divided into three basic groups:

Graph of Tallahassee home sellers...

Why We Want To Meet You First

real estate safety tipsHave you ever been driving around a neighborhood and seen a home for sale that really piqued your curiosity? Most likely you called the real estate brokerage office and asked to see the property, only to be asked to come to the office. The office might even be on the opposite side of town!

This scenario happens all to often in our Joe Manausa Real Estate in Tallahassee. You might wonder why most real estate professionals will refuse to meet you at the home, rather they insist on you coming to the office for the first meeting. You might be surprised to find out that there are several very important reasons why this first meeting should occur in the real...

Tallahassee Real Estate - Market Graphs Updated

Once a month, I receive my data for all the recorded sales in Leon County. This complete data set is roughly 50% larger than the sales data from the Tallahassee Board of Realtors Multiple Listing Service (MLS), and thus it gives us a better perspective of the entire Tallahassee real estate market than just the MLS reports.

Fortunately, you can visit our Tallahassee Market Bulletin more than just once per month, as we update the information there at least twice per week. The Tallahassee Market Bulletin can be viewed any time and is located at Also, you might have noticed the three buttons that are in the footer of each blog post. You can access market reports directly by clicking any or all of these buttons.

The Tallahassee Real Estate Market Report for June has been posted, please stop by and don't forget to give us feedback so that we can continue...

Tallahassee Housing Inventory Update

Today's blog is going to be an update on the inventory of homes in the Tallahassee real estate market. I want to remind the readers that this information can be found, updated twice per week,  on our Tallahassee Real Estate Web site at //market.php.

The key to figuring out the market is understanding the cycles that we must endure. From the graphic below, we can see that we spent the past two years stuck between Point A and Point B. Prices have risen and we were seeing our inventory grow. This was in part due to over-building, but primarily due to the slowing actions of the Buyers. Buyers no longer saw great value in the prices of Tallahassee homes.Tallahassee Real Estate Market Cycles

The reason that we track inventory movement on the Market...

What's For Sale in the Tallahassee Real Estate Market

As I get ready to make my annual trip to West Point, I find myself checking the Tallahassee Board of Realtors Multiple Listing Service (MLS) to find out what is for sale in the Tallahassee real estate market. The good news is that inventory has made a modest decline in the past few weeks. When I look at homes for sale in Tallahassee (single family detached homes, condos and townhouses), I find that the total inventory of homes on the market in Tallahassee has dropped to 3,217 homes. Here is how that breaks down:

Homes For Sale In Tallahassee

  • 322 new construction, single family detached homes
  • 1,845 resale, single family detached homes
  • 334 new construction condos and townhouses
  • 716 resale condos and townhouses
  • 3,217 housing units for sale in Tallahassee
Of course I'm curious about pricing points, so here is what I have found about the average asking price...

Come See Heritage Hills

Heritage Hills in Tallahassee

Do you want to live on your own 3 to 5 acre homesite, in a new home, at an affordable price, but still have easy access to town?

This is what everyone has been asking for. Just off I-10 at Hwy 59, you'll find new 3 & 4 bedroom homes at Heritage Hills offering quiet, country living and a place to enjoy peaceful solitude.

Heritage Hills in Tallahassee - Acreage HomesAfter a hectic day at the office in town, doesn't this sound refreshing? This new neighborhood is an exceptional buying opportunity. So many new neighborhoods are being built...

Ox Bottom And Summerbrooke - Tallahassee Neighborhood Reports

I was recently contacted by Kathy Fredericks, the publisher of many fine Home Owner Association newsletters in the Tallahassee real estate market. Kathy was hoping I could generate some "quick" content relevant to SummerBrooke and Ox Bottom Manor on the Northeast side of Tallahassee. I think this post will be pretty quick, but you will have to be the judge on relevancy... Two of the larger neighborhoods in Northeast Tallahassee are Ox Bottom Manor and SummerBrooke. I have watched them grow from upstarts to mostly-full developments over the past 17 years. The homes in these two communities are larger than the Tallahassee median and they cost more as well. As a quick overview, I went to the Leon County Tax records in order to see the historic sales in each of the subdivisions. For the purpose of this blog, I have combined Ox Bottom Manor, Ox Bottom Estates and Ox Bottom into one subdivision that is titled "Ox Bottom." Therefore,...

Housing Prices Decline Slightly - A Clear Picture Is Forming

We do a lot of work in the relocation industry (corporate moves and affinity relationships) and recently we were sent a request for information that I felt would make a great basis for a real estate blog for Tallahassee housing.We are the principal broker for the Cartus Relocation Network in Tallahassee and they refer a lot of business to our residential office. They informed us that a customer is moving an employee from Pennsylvania to Tallahassee and was curious about price movements in the Tallahassee real estate market. Here is the message that we received: "lost in the web site move 12/27/2009" In an effort to offset any market value impact created by a relocation to Tallahassee, our client has asked Cartus to assist with some metrics. We have a transferee who owns...

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