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Tallahassee Monthly Lis Pendens Filings July 2011

New lis pendens filings in Tallahassee fell 39% in July when compared to July 2010, and foreclosures fell 58%. 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 has dropped from an all time high two months ago to 55%, as we can see with the blue line in the foreclosure graph above.

Tallahassee Foreclosures Filings July 2011

Subdivision Address ...

Short Sale Versus Foreclosure

short sale versus foreclosureJuly 31, 2011 - Many people want to know the ramifications of a short sale versus foreclosure, so we have assembled the most up-to-date information to help educate homeowners who are faced with the prospect of getting losing their home. Though it is not a pleasant topic, it is important for homeowners to know they can have some control in their fate.

In order to be prepared to choose a short sale versus foreclosure, review the following table of information that will help you understand what happens with each option. Again, the information is not pleasant, but you might...

Slight Improvement In Pending Home Sales Report

There is good news from the recent Pending Home Sales Report released by the National Association of REALTORS, showing an increase in the number of new contracts across the US.

The Pending Home Sales Index,* a forward-looking indicator based on contract signings, rose 2.4 percent to 90.9 in June from 88.8 in May and is 19.8 percent above the 75.9 reading in June 2010, which was the low point immediately following expiration of the home buyer tax credit. The data reflects contracts but not closings.

Tallahassee also showed an increase in pending home sales during the months of June and July, which hopefully is the beginning of a Real Estate Recovery in Tallahassee, Florida.

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Tallahassee Foreclosure Filings July 31, 2011

Tallahassee Foreclosures Filings July 31, 2011

...
Subdivision/Location Address Sqft Age Date Tax Value
AZALEA PARK 1665 MAYHEW ST 1,803 1991 7/22/2011 $126,781
BLOXHAM-GREEN ACRES 4770 PRESTON JOHNSON RD 924 1985 7/26/2011 $28,017
CAMELLIA GARDENS CONDO 3400 OLD BAINBRIDGE RD 1,368 2004 7/22/2011 $90,000
CHESAPEAKE PLACE TOWNHOMES 2779 TESS CIR 1,248 1997 7/28/2011 $88,087

Home Sellers Move-Up And Save Money

Home Sellers Move UpThere are many sellers who have some equity in their homes who want to move up to a larger home or nicer neighborhood. These sellers do not want to sell at today’s low prices.  It may be that their agent has not provided them with the whole picture of today’s market.

Sellers  need to take into consideration that although they may get a lower price than they want, the next home they purchase is also going to be at a low price, and they are going to be able to move up in size and value in a depreciated market.  This means they actually have gained because they purchased a larger home in a more upscale area that should appreciate rapidly when the market starts to recover.

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Gardens Of Killearn Home Sales Report

The Gardens of Killearn is a popular Northeast Tallahassee neighborhood nestled in the southern section of Killearn Estates. Homes there where mostly built in the 1990s, and the average home is 3 or 4 bedrooms with about 2,400 square feet of living space.

Our company worked with several builders back in the mid 90s and helped sell a lot of these homes when they were brand new. It is interesting to watch them resell now, years later. Like much of the rest of the Tallahassee housing market though, values continue to fall in the Gardens of Killearn.

Home Prices In The Gardens Of Killearn

According to home sales recorded in the ...

NAR: Home Sales Are Slipping

Every month I like to read the National Association of REALTORS® Existing Home Sales Report to see how Lawrence Yun is going to positively interpret the data being reported from all the US housing markets. Last month he blamed the weather, this month apparently the problems were due to contract cancellations. Regardless, he is still quite certain that we are in the midst of a housing recovery.

Lawrence Yun, NAR chief economist, said this is an uneven recovery. “Home sales had been trending up without a tax stimulus, but a variety of issues are weighing on the market including an unusual spike in contract cancellations in the past month,” he said....

What Is A Short Sale Going To Do To Help A Upside-Down Homeowner?

You might be wondering what is a short sale going to do for a homeowner who owes more money on a property than it is worth, and who really needs to relocate right now. After all, there are options for homeowners beyond just doing a short sale, right?

What Is A Short Sale?

First of all, what is a short sale? This is simply when a seller agrees to a price with a buyer and the net amount of money from the home sale is not enough to cover the mortgage(s) on the property. In this case, approval from the lender(s) is required for the sale to close....

Should I Short Sale My Home

Should I Short Sale My Home E Book As the leader in Tallahassee short sales, we get questions all the time about how they are used to sell a home. Four years ago, short sale questions came from people who were behind in their mortgages and wanted to know how selling short could help them avoid foreclosure and its long impact on their credit ratings. But times have changed.

People with excellent credit and who are current on their mortgages are faced with staggering...

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