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Southwood Home Sales See Rapid Growth In Distressed Properties

If you have been thinking about buying a Southwood home, now might be the best time in history to do so.

Here's why. Mortgage interest rates are incredibly low. Historically low. Crazy low.

And values are declining. The combination of falling values and low interest rates make the affordability of a Southwood home better today than it has ever been.

Unfortunately for people needing to sell a Southwood home, falling values is not a trend that will go away any time soon. The real estate graph above shows that 1 in every 3 homes sold in Southwood this year has been a distressed sale, and there are hundreds more to come.

For people who want to buy a home in Southwood, you might be thinking "Joe you're crazy ... why would I buy if values are falling." The answer is simple. The decline in values will only last a few more years, but these low interest rates have to move higher eventually. When they do, the impact on monthly mortgage payments will far exceed any savings from buying at a slightly cheaper price.

So, if you are buying for 10 or more years, now is the time to buy. If you think you'll need to sell in five years, then I would make sure that I purchased a below-market distressed home.

Southwood Home Prices

When we want to know what home buyers are currently paying, we look to average Southwood home sales prices. The graph below shows that average price has come down to $280,000, a decline of 22% since the peak of the housing market.

Southwood Home Prices Joe Manausa Real Estate 1140 Capital Circle SE #12A Tallahassee, FL 32301 (850) 366-8917 www.manausa.com

Southwood Home Values

When we want to measure real estate depreciation/appreciation, we look to the average values found in Southwood home sales. The real estate graph below shows that average to be $121 per square foot in 2012, a decline of 26% since the top of the housing market.

Southwood Home Values Joe Manausa Real Estate 1140 Capital Circle SE #12A Tallahassee, FL 32301 (850) 366-8917 www.manausa.com

Southwood Home Sales

Finally, to help existing Southwood home owners get a clearer picture of the market, we segregate new home sales from existing home sales. This shows that resales have really depreciated 29% and have sold recently at an average of $116 per square foot. That is a decline of 6% in 2012 already over the average value attained in 2011.

Southwood Home Sales Joe Manausa Real Estate 1140 Capital Circle SE #12A Tallahassee, FL 32301 (850) 366-8917 www.manausa.com

If you want to sell a Southwood home, you need a really aggressive home selling plan to compete with the abundance of inventory.

Recent Southwood Home Sales

Address Sales Price Price/SQF Closing Date Year Built SQF Type
3005 Dickinson Drive $225,000 $126 7/31/2012 2005 1,782 Arms Length
4275 Raleigh Way $203,000 $98 7/31/2012 2006 2,067 Distressed
3751 Overlook Dr $365,000 $134 7/27/2012 2003 2,726 Arms Length
3163 Nathaniel Trace $302,404 $151 7/20/2012 2012 2,007 Arms Length
2471 Goldenrod Way $250,000 $135 7/13/2012 2012 1,850 Arms Length
3171 Mulberry Park Blvd. $155,000 $89 7/13/2012 2002 1,744 Distressed
4032 Shady ViewLane $248,000 $122 6/29/2012 2004 2,027 Arms Length
3608 Biltmore Avenue $175,000 $107 6/27/2012 2006 1,633 Distressed
3910 Shumard Oak $155,000 $102 6/25/2012 2010 1,521 Arms Length
3008 Dickinson Drive $380,000 $103 6/25/2012 2007 3,691 Arms Length
3246 Belle Meade Trail $385,000 $107 6/20/2012 2007 3,612 Distressed
3254 Stanhope Drive $223,000 $99 6/18/2012 2003 2,250 Distressed
4024 Colleton Court $118,000 $89 6/14/2012 2003 1,324 Distressed
4290 Park Crossing Trl $125,000 $83 6/11/2012 2005 1,511 Distressed
4260 Summertree Dr $220,000 $110 6/8/2012 2006 1,997 Distressed
3690 Biltmore Avenue $175,000 $110 6/1/2012 2005 1,584 Distressed
4085 Faulkner Lane $455,100 $145 5/23/2012 2011 3,134 Arms Length
3725 Riverton Trail $161,500 $106 5/22/2012 2008 1,521 Arms Length
3562 Four Oaks $208,000 $117 5/11/2012 2005 1,780 Arms Length
3082 SurratLane $414,000 $151 5/11/2012 2012 2,748 Arms Length
3124 Mulberry Park Blvd $280,000 $124 5/1/2012 2002 2,250 Arms Length
3665 Mossy Creek Lane $650,000 $130 4/27/2012 2002 4,990 Arms Length
3665 Longfellow Road $170,000 $107 4/27/2012 2004 1,584 Arms Length
3218 Salinger $450,000 $143 4/16/2012 2007 3,153 Arms Length
3570 Strolling Way $279,709 $155 4/16/2012 2011 1,809 Arms Length
4114 Faulkner Drive $335,000 $131 4/9/2012 2012 2,555 Arms Length
3558 Four Oaks Blvd $157,000 $89 4/6/2012 2005 1,760 Distressed
3769 Piney Grove Drive $247,850 $130 3/31/2012 2002 1,905 Arms Length
3095 Dickinson Drive $444,000 $130 3/30/2012 2011 3,412 Arms Length
2500 Twain Drive $275,000 $126 3/29/2012 2006 2,184 Distressed
3258 Belle Meade Trail $507,310 $103 3/29/2012 2005 4,940 Distressed
3753 Four Oaks Boulevard $262,000 $122 3/23/2012 2002 2,156 Arms Length
3262 Salinger Way $320,000 $124 3/19/2012 2004 2,580 Arms Length
3757 Esplanade Way $184,000 $114 3/15/2012 2003 1,620 Arms Length
3740 Biltmore Avenue $205,000 $127 3/6/2012 2004 1,620 Arms Length
3157 Mulberry Park Boulevard $120,000 $91 3/2/2012 2002 1,324 Distressed
2558 Twain Drive $333,500 $136 2/15/2012 2011 2,450 Arms Length
3178 Coneflower Drive $267,000 $118 1/31/2012 2008 2,260 Arms Length
3578 Strolling Way $278,800 $154 1/31/2012 2011 1,809 Arms Length
2565 Twain Drive $542,500 $122 1/27/2012 2008 4,456 Distressed
3103 Dickinson Drive $323,500 $122 1/20/2012 2012 2,657 Arms Length
2448 Rain Lily Way $233,900 $135 1/19/2012 2011 1,738 Arms Length
3797 Piney Grove Drive $249,000 $106 1/5/2012 2003 2,344 Arms Length
3614 Strolling Way $284,900 $142 12/31/2011 2011 2,005 Arms Length
2110 Fernleigh Drive $190,000 $117 12/30/2011 2003 1,620 Arms Length
3102 Dunbar Lane $357,000 $128 12/30/2011 2011 2,800 Arms Length
4388 Grove Park Drive $198,000 $125 12/29/2011 2005 1,584 Arms Length
3151 Nathaniel Trace $292,400 $139 12/23/2011 2011 2,100 Arms Length
3162 Dunbar Lane $527,500 $119 12/20/2011 2008 4,430 Distressed
4290 Avon Park Circle $143,000 $108 12/14/2011 2004 1,324 Arms Length
3610 Strolling Way $274,500 $152 12/9/2011 2011 1,809 Arms Length
2405 Goldenrod Way $284,900 $142 12/8/2011 2010 2,005 Arms Length
3143 Nathaniel Trace $304,700 $143 12/8/2011 2011 2,124 Arms Length
3598 Strolling Way $291,340 $161 12/2/2011 2011 1,809 Arms Length
3658 Mossy Creek Lane $825,000 $129 11/30/2011 2006 6,377 Distressed
3406 Mossy Creek Road $319,000 $139 11/18/2011 2011 2,288 Arms Length
3736 Overlook Drive $420,000 $132 11/15/2011 2006 3,189 Arms Length
3767 Overlook Drive $475,000 $128 11/15/2011 2006 3,718 Arms Length
3618 Strolling Way $249,900 $147 11/15/2011 2011 1,700 Arms Length
4300 Four Oaks $156,000 $101 11/10/2011 2010 1,551 Arms Length
3256 Carollton Drive $225,000 $112 11/9/2011 2004 2,005 Arms Length
3108 Mist FlowerRoad $245,000 $112 11/8/2011 2008 2,181 Arms Length
3765 Esplanade Way $242,000 $126 11/4/2011 2003 1,919 Arms Length
2417 Goldenrod Way $309,000 $112 11/2/2011 0 2,767 Arms Length
3304 Calumet Dr. $150,000 $106 10/31/2011 2006 1,416 Distressed
4117 Beckett Road $249,260 $105 10/25/2011 2005 2,368 Distressed
3586 Strolling Way $309,900 $148 10/21/2011 2011 2,100 Arms Length
3562 Strolling Way $306,000 $146 10/15/2011 2011 2,100 Arms Length
3815 Overlook Drive $205,000 $107 10/14/2011 2002 1,919 Distressed
4632 Grove Park $468,000 $177 10/14/2011 2011 2,645 Arms Length
4146 Faulkner $442,500 $146 10/14/2011 2008 3,037 Arms Length
3721 Riverton Trail $155,000 $102 10/14/2011 2008 1,521 Arms Length
3762 Longfellow Road $300,000 $125 10/12/2011 2011 2,400 Arms Length
4654 Grove Park $549,000 $174 9/30/2011 2006 3,150 Arms Length
3154 Dunbar Lane $565,000 $168 9/30/2011 2009 3,368 Arms Length
3258 Thoreau Avenue $300,000 $148 9/30/2011 2006 2,027 Arms Length
4009 Colleton Court $111,790 $84 9/29/2011 2002 1,324 Distressed
3206 Mossy Creek Lane $332,000 $120 9/29/2011 2011 2,767 Arms Length
3725 Overlook Drive $367,000 $146 9/26/2011 2003 2,521 Arms Length
3602 Strolling Way $347,947 $147 9/2/2011 2011 2,362 Arms Length
4014 Blairstone Road $199,900 $111 8/25/2011 2005 1,794 Distressed
3044 Dickinson Drive $670,000 $138 8/25/2011 2008 4,864 Arms Length
4043 Swift Way $185,000 $126 8/25/2011 2004 1,474 Arms Length
4100 Raleigh Way $222,500 $109 8/19/2011 2006 2,045 Distressed
3790 Piney Grove Drive $275,000 $103 8/12/2011 2006 2,664 Distressed
3626 Strolling Way $311,211 $148 8/8/2011 2010 2,100 Arms Length
4252 Raleigh Way $205,000 $99 8/2/2011 2006 2,073 Distressed
3789 Longfellow Road $519,000 $136 8/1/2011 2006 3,825 Arms Length
4286 Avon Park Circle $190,000 $97 7/29/2011 2004 1,966 Arms Length
3190 Dunbar Lane $537,000 $157 7/29/2011 2011 3,426 Arms Length
3053 Four Oaks Blvd $288,000 $152 7/26/2011 2011 1,890 Arms Length
3606 Strolling Way $269,900 $149 7/22/2011 2011 1,809 Arms Length
3571 Strolling Way $274,900 $152 7/21/2011 2011 1,809 Arms Length
4065 Colleton Court $112,000 $85 7/19/2011 2003 1,324 Distressed
2111 Merrifield Lane $215,000 $121 7/15/2011 2002 1,782 Arms Length
3161 Duxbury Ln $222,000 $136 7/12/2011 2006 1,632 Arms Length
3256 Appleton Drive $301,000 $142 7/5/2011 2005 2,113 Arms Length
3247 Newberry Boulevard $169,000 $119 7/5/2011 2003 1,416 Arms Length
4059 Colleton Court $144,000 $97 6/30/2011 2003 1,483 Distressed
3124 Mulberry Park Boulevard $286,500 $127 6/30/2011 2002 2,250 Arms Length
3780 Longfellow $321,500 $135 6/30/2011 2011 2,384 Arms Length
3249 Newberry Blvd $178,500 $127 6/16/2011 2003 1,401 Arms Length
3785 Longfellow Road $410,000 $117 6/13/2011 2007 3,516 Arms Length
4138 Four Oaks Blvd $155,000 $102 6/13/2011 2007 1,521 Arms Length
3099 Dickinson Drive $336,500 $131 6/10/2011 2011 2,570 Arms Length
4070 Colleton Court $139,900 $94 6/3/2011 2003 1,483 Distressed
3570 Four Oaks Blvd $145,000 $104 5/31/2011 2005 1,394 Distressed
3665 Longfellow Road $185,000 $117 5/31/2011 2004 1,584 Arms Length
2124 Fernleigh Drive $255,500 $111 5/31/2011 2003 2,308 Arms Length
2545 Twain Drive $207,000 $102 5/27/2011 2005 2,033 Distressed
3152 Nathaniel Trace $283,900 $142 5/27/2011 2011 2,005 Arms Length
4105 Raleigh Way $160,000 $113 5/27/2011 2006 1,416 Arms Length
2988 Verdura Point Drive $225,000 $97 5/26/2011 2002 2,308 Distressed
4067 Colleton Court $174,000 $100 5/23/2011 2003 1,744 Arms Length
3174 Baringer Hill Drive $435,000 $154 5/17/2011 2006 2,825 Arms Length
3258 Newberry Boulevard $158,000 $112 5/13/2011 2003 1,416 Distressed
4020 Colleton Court $118,000 $89 5/2/2011 2003 1,324 Distressed
3120 Mist Flower Rd. $192,000 $137 5/2/2011 2009 1,400 Arms Length
3594 Strolling Way $281,297 $155 4/30/2011 2010 1,809 Arms Length
3710 Longfellow Road $317,000 $118 4/22/2011 2004 2,681 Arms Length
3075 Bent Grass Lane $230,000 $104 4/21/2011 2010 2,212 Arms Length
4022 Blair Stone Road $169,900 $111 4/18/2011 2005 1,524 Distressed
2467 Goldenrod $309,900 $152 4/18/2011 2011 2,033 Arms Length
3587 Strolling Way $349,750 $141 4/13/2011 2010 2,488 Arms Length
4308 Grove Park $205,000 $133 4/13/2011 2005 1,541 Arms Length
3950 Shumard Oak $215,000 $114 4/8/2011 2010 1,889 Arms Length
3590 Strolling Way $288,042 $144 4/8/2011 2010 2,005 Arms Length
3622 Strolling Way $277,404 $153 3/31/2011 2010 1,809 Arms Length
3972 Shumard Oaks Boulevard $135,000 $91 3/29/2011 2005 1,483 Distressed
3799 Esplanade Way $179,900 $106 3/17/2011 2002 1,695 Distressed
4097 Faulkner $406,500 $134 3/4/2011 2008 3,033 Distressed
3760 Overlook Drive $295,000 $129 3/2/2011 2003 2,292 Arms Length
3202 Dunbar Lane $304,900 $131 3/1/2011 2010 2,333 Arms Length
4151 Faulkner Lane $450,000 $151 2/25/2011 2007 2,989 Arms Length
3910 Shumard Oaks Boulevard $145,000 $93 2/25/2011 2010 1,551 Arms Length
3567 Strolling Way $312,999 $139 2/25/2011 2010 2,246 Arms Length
3154 Duxbury $328,000 $131 2/25/2011 2011 2,502 Arms Length
3198 Dunbar $525,000 $158 2/25/2011 2011 3,326 Arms Length
3254 Belle Meade Trail $704,000 $175 2/16/2011 2005 4,012 Arms Length
3158 Buckhead Trace $255,000 $108 2/15/2011 2002 2,368 Arms Length
3630 Strolling Way $269,900 $149 2/15/2011 2010 1,809 Arms Length
4238 Avon Park Circle $143,000 $108 2/14/2011 2005 1,324 Arms Length
3054 Cummings Avenue $157,500 $113 2/9/2011 2006 1,394 Arms Length
4067 Colleton Court $148,000 $85 2/7/2011 2003 1,744 Distressed
3166 Dunbar Lane $506,099 $167 1/28/2011 2011 3,022 Arms Length
3574 Strolling Way $299,900 $143 1/28/2011 2010 2,100 Arms Length
2421 Orange Avenue $239,900 $110 1/28/2011 2010 2,181 Arms Length
3613 Mossy Creek Way $659,000 $169 1/28/2011 2011 3,900 Arms Length
3169 Mulberry Park Blvd $135,000 $91 1/26/2011 2002 1,483 Distressed
2525 Twain Drive $280,000 $111 1/26/2011 2005 2,530 Distressed
3996 Shumard Oak Boulevard $90,250 $68 1/19/2011 2005 1,324 Distressed
3049 Merchants Row Blvd $143,000 $94 1/13/2011 2007 1,521 Distressed
3753 Four Oaks Blvd $273,000 $127 1/13/2011 2002 2,156 Arms Length
3243 Appleton Drive $470,000 $138 1/11/2011 2004 3,414 Arms Length

I hope you have enjoyed our Southwood Home Sales Report, don't forget to check back often as we update our information on a regular basis.

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Joe Manausa Real Estate
2066 Thomasville Rd
Tallahassee, FL 32308
(850) 366-8917

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