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Free Real Estate App For Tallahassee

Tallahassee Real Estate AppAfter fighting tooth and nail to stay in the 20th Century, the real estate industry is finally starting to embrace technology. Gone are the days of hoarding and hiding information, and we are now embracing the 21st Century of real estate.

While many Tallahassee Real Estate Brokers are trying to figure out the concept of Web 2.0 and micro-blogging, the Tallahassee Real Estate Web Site is going mobile with it's own "App" for the iphone. What this...

One In Four Home Sales Is A Distressed Property

Transaction Types In Tallahassee Home SalesThe newest data has just arrived for home sales in Tallahassee, so I figured now was a good time to update the Tallahassee Subdivision Report. While I do this report every month, this will be the first time that I separate the "arms length" sales from the non arms length sales.

Just as a reminder for readers who have seen our earlier blogs on arms length sales, these are which are freely entered into by parties who don't have a special relationship or control over one another. An arm's length sale is indicated by the fairness of price, conditions, and other terms...

Understanding Real Estate Agent Motivation

I was surfing around some real estate web sites on the internet hoping to come up with today's topic. You see, posts on the Tallahassee Real Estate Blog are usually based upon reader questions (or questions from our customers at Joe Manausa Real Estate), but today I had nothing standing by.

I came across a question posted on Trulia that I think might provide some interesting insight for some people who are trying to sell a home in Tallahassee. The question was about getting more agents to show a home that is already one the market, and asked:

Do agents look at the commission %? If you saw a house that had 4% instead of 3% would you show it more?

This simple question actually brings...

Real Estate Investment Analysis

Last week, I wrote a blog about a great investment my brother Mike purchased in 1991 in Richview Park. If you did not get a chance to check it out, I would recommend you click here to read about Richview Park townhomes as the lead-in to this real estate investment analysis. He has since provided me all of his operating data since the day that he purchased his townhouse in Richview Park.

As a quick summary, we have seen property values grow in Richview Park over the past 17 years, though prices have softened in the past two years. The following graph shows all arms-length transactions in Richview Park...

Consider Paying Home Mortgage Discount Points

tallahassee mortgage closing costsWhen it comes to comparing interest rates for a mortgage loan, home buyers often have the option of choosing a loan with a lower interest rate by paying discount points.

Simply put, discount points are fees charged by the lender to reduce (discount) the interest rate charged to the borrower. A point is equal to 1 percent of the loan amount. For example, with a $200,000 loan, one point equals $2,000. Points are usually paid out-of-pocket by the buyer at closing.

Paying points may seem attractive, because a lower interest rate means smaller monthly payments. But is paying points...

Tallahassee Foreclosures On The Rise

Tallahassee Foreclosure AvailableForeclosures and short sales dominated the national news for such a long period that news of foreclosures in Tallahassee does not carry the whallup that it would have just one year ago. But people better pay close attention to what is happening with foreclosures, because we have only scratched the surface of this epidemic thus far!

We have been monitoring the Lis Pendens filings for many years, and the number of properties that actually make it to the court-house steps is usually less than ten each month. But about two years ago, we noticed that lis pendens filings in Tallahassee were on the rise, so we suspected that...

Great Returns On Townhomes In Richview Park

Yesterday, my brother Mike and I were discussing our townhomes that we purchased in Richview Park in the early 90s. Richview Park is a town home community of roughly 150 homes in a very convenient location off of Richview Road and Apalachee Parkway in downtown Tallahassee.

Anyway, we were discussing the fact that real estate had dropped in value lately, yet his townhouse was still an incredible investment. This Tallahassee townhouses was purchased in the early 90s and if sold today would show a five percent annualized appreciation rate. Considering the fact that leverage was used, his return on investment (ROI) is going to be huge.

Great Returns On Townhomes In Richview Park

The real estate graph below shows that unit sales have slowed considerably in Richview Park, but values are only...

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