New lis pendens filings in Tallahassee rose 100% in July when compared to July 2011, and foreclosures jumped an astounding 336%. We are definitely seeing a huge increase in these distressed properties, as the lis pendens filings trend has been on the rise for ten months now, which we are now seeing the evidence of growth in foreclosure sales. Currently, the foreclosure sale to Lis Pendens filings ratio has dropped from an all time high 11 months ago to 46%, as we can see with the blue line in the foreclosure graph below.
Tallahassee Foreclosures Filings July 2012
If you want to live in a great Tallahassee neighborhood that's inside of I-10, you should take a look at a Waverly Hills home.
Why? Because well established, in-town neighborhoods are going to be least affected by the housing market correction.
In the real estate graph above, two great facts are immediately obvious.
First, this is the best year (YTD through June) for Waverly Hills home sales in the Tallahassee MLS going back to 2002. Secondly, distressed property sales have dropped from 67% of the sold homes to just 9%.
Currently, there are 8 ...
I conducted a housing inventory analysis of the Tallahassee MLS in order to discover a pattern that might help explain a strange new twist being observed in home sales in Tallahassee.
Over the past 7 months, we have observed an improving trend in the number of homes going under contract each day, yet we have not really enjoyed the corresponding number of closed home sales being recorded.
By conducting a housing inventory analysis, we were able to discover a dark new trend that all home sellers should understand.
In the real estate graph above, we can observe that...
Chet and Andrew:
Please take the time to review my [VERY ROUGH] draft of the Executive Summary and presentation for what we are proposing. I am still hashing out the numbers, but I think this is moving in the desired direction. I would appreciate any recommendations, criticisms, ideas, etc.
Click here to see the current draft of the Executive Summary
I have prepared a brief video (1 minute each) for each section of the presentation (see below).
I have to admit it, the only reason that I read the monthly Pending Home Sales Report published by NAR is to see how they will spin the housing data into something positive for the housing market.
Imagine my "lack of shock" this month when I saw the positive report regarding 14 consecutive months of year-over-year gains in the pending home sales report. Of course, my memory reminded me that we continue to revise past numbers down so that current numbers appear higher.
If you would like to see the latest pending...
There is a problem brewing with foreclosure sales that has become evident at many of the closing tables across the US.
In fact, Lawrence Yun, Chief Economist for the National Association of REALTORS, pointed to closing delays in foreclosure sales as one of the reasons that existing home sales fell in June.
But why do simple closing delays matter?
Golden Eagle in Tallahassee offers some of the best golf course living in North Florida and features an award winning Tom Fazio golf course.
We have been providing home sales reports for Golden Eagle in Tallahassee for many years, and the changes that have occurred due to fluctuating market conditions is very evident in the real estate graphs that we provide.
The newest numbers are out regarding foreclosures in Tallahassee, and they are not good.
The second quarter of 2012 showed a 102% increase over foreclosures in Tallahassee during the 2nd quarter of 2011, a staggering rise by anybody's standard.
There is still time left for you to enter to win a FREE iPad.
It has been quite some time since we have reviewed lots and land sales in Tallahassee, and our update is quite revealing in terms of where the housing market is heading.
Currently, there are 623 lots and land for sale in Tallahassee, which represents more than 1 lot for sale for every 4 homes for sale.
Additionally, there are many more that are not listed, and we will see this abundance of developed lots and land continue to impact the Tallahassee real estate market.
In many ...