Changing Times For Short Sales And Foreclosures In Tallahassee

Times and trends are changing for the short sales and foreclosures in Tallahassee.

What we often refer to as “distressed properties,” we have seen a new industry within an industry arrive, dominate, and now recede, all in the past 7 years.

The percentage of distressed properties in Tallahassee that are being sold as short sales is nothing like we have seen in the past, but you might be surprised how  this change has impacted the liquidation of these non-performing loans.

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7 March 2014
Joe Manausa
FL
Century 21

A New Direction For The Inventory Of Homes For Sale In Tallahassee

Having just completed the February edition of the housing report, I can tell you we are starting to see the seasonal changes that lead to an increased inventory of homes for sale in Tallahassee.

Most years, we see people start to pull their homes off the market (if they are not sold) as the holidays arrive in late November, only to reappear on the market in the middle of February and extending on through the Summer.

So as we watch for this annual rise in available homes, let’s take a detailed look at what the Tallahassee real estate market has to offer in 2014.

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9 February 2014
Joe Manausa
FL
Century 21

Distressed Homes Are Not Going Away In 2014

Yes, the market is getting stronger every day, but that does not mean that we have seen the last of the distressed homes.

From coast to coast, I am seeing reports about short sales and foreclosures still being very prominent in the market, and that is very true still in the Tallahassee real estate market.

With roughly 30% of all home sales reported as non-arms-length, these problem properties will continue to impact home prices and home values throughout the 2014 selling year.

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29 January 2014
Joe Manausa
FL
Century 21

How Short Sales Will Boost Home Sales In 2014

You might have assumed this article would be about short sales on the market today, but that is not the case.

You see, the real estate market is about to experience a surge of homebuyers who took part in short sales as sellers three to five years ago.

That’s right, there is a wave of buyers who will steadily hit the market now and for the next five years that will push the housing market back up to historically “normal” levels and beyond, making 2014 a good year to finally sell your home.

If you caught our recent article on 3 key concerns that could negatively impact the real estate market in 2014, then consider this article the counter argument about why past short sales will be an undeniable force in the Tallahassee real estate market for years to come.

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24 January 2014
Joe Manausa
FL
Century 21

Tallahassee Neighborhoods With The Most Foreclosed Properties

This weekend we posted our annual report on foreclosed properties, listing every new lis pendens filed during 2013 and identifying trends that we feel will impact the Tallahassee real estate market.

I recommend you give it a read if you have any interest in distressed properties or if you plan on buying or selling a home this year. The included graphs show a major trend change that will impact the number of distressed homes for sale in Tallahassee this year.

Today we’ll look at the neighborhoods that posted the most new lis pendens filings, and which ones will likely see significant offerings this year from lenders and property owners that need to cure a problem.

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20 January 2014
Joe Manausa
FL
Century 21

Tallahassee Foreclosure Filings January 14, 2014

This is a list of properties that received a lis pendens filing in Tallahassee, for the week ending 1/14/2014. Most of the properties on this list will eventually show up in our market as short sales or as a foreclosure sale at the Leon County Court House.

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15 February 2014
Joe Manausa
FL
Century 21

Tallahassee Foreclosure Sales Rise 316%

In case you missed our update on Tallahassee foreclosure sales, the year over year change in November showed a rise of 316%.

Yeah, that’s not a typo, our latest report on foreclosure sales in Tallahassee showed 187 recorded in November, versus 45 that were recorded in November 2012.

So is this bad news or good news for the Tallahassee real estate market?

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16 December 2013
Joe Manausa
FL
Century 21

Fewer Distressed Homes For Sale In Tallahassee, Florida

There are fewer distressed homes for sale in Tallahassee, Florida today than there were at this time last year.

The difference is less than one percent, but it’s a positive sign that we have been anxiously awaiting since the collapse of the Tallahassee real estate market in 2006.

Today’s article has two graphs that focus on the non-investment segment of our market, featuring homes for sale in Tallahassee that are priced above $100,000.

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12 December 2013
Joe Manausa
FL
Century 21

It’s Time To Demand The Mortgage Forgiveness Debt Relief Act Extension

I am not sure why, but there isn’t much talk yet about extending the Mortgage Forgiveness Debt Relief Act into 2014.

Before you (yawn) and figure this topic doesn’t impact you, you might want to reconsider your position.

In fact, this issue will have a significant impact on home values for the next five to ten years, so you might want to take the time to speak your mind.

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30 March 2014
Joe Manausa
FL
Century 21

Tracking Trends Of Distressed Homes For Sale

I have been monitoring and reporting on the number of distressed homes for sale for more than seven years.

Prior to 2007, foreclosures, short sales, and bank owned properties were such an insignificant percentage of the Tallahassee real estate market that there was really no need to consider them as anything more than “noise” in our data.

But times change, so we are constantly monitoring the inventory of homes for sale that are being sold under less than ideal situations.

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25 October 2013
Joe Manausa
FL
Century 21

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Data is deemed reliable but is not guaranteed accurate by the MLS.

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