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Buyers Choosing Premium Homes In Golden Eagle Plantation

Golden Eagle ImageHome sales in Golden Eagle Plantation are selling at a pace between two and three sales per month over the past five years. As one of the upper-end neighborhoods in Tallahassee, Golden Eagle features a Tom Fazio golf course and a private country club, and has seen some of the more expensive home sales in Tallahassee since it opened in the late 1980s.

Sales boomed in Golden Eagle during the peak of the market, fueled by the new loan programs that offered low interest rates, no principal payments for up to 7 years, and little or no down payment. Currently, we are in the midst of a very different mortgage market, and that is why many homeowners in Golden Eagle are having a hard time luring new buyers to the community.

There are 40 homes for sale right now in Golden Eagle, which represents about 14 months of supply. The following real estate graph shows that values appear to remaining fairly stable, but the reality is that current buyers are opting for homes that are on the premium golf course and lake front homesites at a higher rate than in past years, so the results are being masked by the types of properties that are being sold.

Golden Eagle Home Sales Report Graph

Over the past year, roughly 50% of the homes sold in Golden Eagle were either on the golf course or on a lake. These premium home sites have historically sold for about 25% more than comparable homes on interior lots, so the higher rate of premium home sales is masking the fact that like the rest of the Tallahassee housing market, home values are dropping in Golden Eagle Plantation.

This understanding of how home values are greatly affected by their individual amenities and attributes is important because it is the reason why a home's value cannot be simply measured by computers on real estate websites using a price per square foot algorithm. Sites such as zillow or trulia might use a home on a lake as a comparable property to one on the interior, thus these values (disinformation) often times mislead both buyers and sellers alike in regards to values in a neighborhood.

Recent Home Sales In Golden Eagle Plantation

 
Golden Eagle Address Sales Price Size Value (PPSFT) Age Sale Date
2961 GOLDEN EAGLE DR E $450,000 3,443 $130 1987 4/8/2011
9006 SHOAL CREEK DR $383,000 3,619 $105 1997 4/8/2011
9635 DEER VALLEY DR $545,000 3,504 $155 2005 3/31/2011
2697 WHARTON CIR $341,500 2,674 $127 1998 3/22/2011
8155 GLENMORE DR $560,000 3,664 $152 1997 3/18/2011
2262 COBB DR $450,000 3,471 $129 2006 3/15/2011
9664 DEER VALLEY DR $840,000 5,019 $167 2003 3/3/2011
2869 ROYAL ISLE DR $345,000 2,992 $115 2003 3/2/2011
9221 SHOAL CREEK DR $411,000 3,249 $126 2005 2/8/2011
8997 BOB O LINK CT $375,000 3,437 $109 1989 1/31/2011
2286 COBB DR $386,000 3,156 $122 2002 1/27/2011
2606 WHARTON CIR $395,000 2,033 $142 2001 12/16/2010
9692 PRESTANCIA WAY $370,000 2,615 $136 2006 12/3/2010
2722 WATERFORD GLEN CT $430,000 3,144 $116 1996 11/30/2010
2684 WHARTON CIR $419,300 2,531 $140 1998 11/15/2010
9015 WINGED FOOT DR $745,000 2,866 $188 2002 11/1/2010
8893 SALTCOATES CT $329,000 2,844 $161 1994 10/2/2010
8893 SALTCOATES CT $329,000 3,816 $86 1994 10/2/2010
2987 SAINT STEVENS DR $327,000 4,350 $125 1994 9/16/2010
2987 SAINT STEVENS DR $327,000 2,615 $125 1994 9/16/2010
8881 BLACKHEATH WAY $340,000 3,144 $108 1999 9/13/2010
9688 DEER VALLEY DR $575,000 3,443 $167 2003 9/10/2010
2320 GATES DR $382,000 2,866 $133 1999 8/16/2010
8823 WINGED FOOT DR $354,000 2,531 $140 1997 8/11/2010
2702 WHARTON CIR $340,000 2,844 $120 1999 7/16/2010
3027 GOLDEN EAGLE DR E $760,000 4,350 $175 2005 7/1/2010
3233 PINE BROOK CT $670,000 4,245 $158 2006 7/1/2010
9030 SHOAL CREEK DR $625,000 3,816 $164 1996 6/15/2010
9030 SHOAL CREEK DR $625,000 3,816 $164 1996 6/15/2010
8499 CONGRESSIONAL DR $720,000 5,662 $127 1991 5/14/2010
8533 HEATHCLIFF CT $335,000 2,485 $135 1999 5/14/2010
9640 DEER VALLEY DR $750,000 3,890 $193 2007 5/3/2010
2845 ROYAL ISLE DR $369,000 2,675 $138 1998 4/22/2010
2274 COBB DR $423,000 3,105 $136 2003 4/14/2010
2558 BISHOPS GREEN TRL $435,000 3,114 $140 1998 4/12/2010
9694 DANCING RABBIT WAY $345,000 2,868 $120 2004 3/15/2010
9227 SHOAL CREEK DR $390,000 3,039 $128 2006 3/12/2010
8950 WINGED FOOT DR $630,000 3,465 $182 2001 2/26/2010
2968 MEDINAH CT $390,000 2,826 $138 2001 2/25/2010
3059 SAINT ANDREWS WAY $435,000 3,132 $139 2005 2/17/2010
   

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Joe Manausa Real Estate
2066 Thomasville Rd
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(850) 366-8917