Warning: Foreclosed Homes Coming To A Neighborhood Near You

Home sellers are in a race to beat the wave of foreclosed homes and distressed properties that are moving into an already abundant real estate market in Tallahassee.

No matter the zip code in Tallahassee, there are far too many foreclosed homes entering the mix.

The real estate graph above shows that the 32312 zip code is the strongest, with 20% of all sales coming from foreclosed homes and distressed property sales, while the 32305 and 32310 zip code have surpassed the 50% mark.

Think about it. Two zip codes already are seeing more foreclosed homes and distressed property sales than arms length sales. Will this trend be coming to a neighborhood near you too?

Smart Idea - Contact Joe Manausa In Tallahassee, FloridaHome values are dropping and more foreclosed homes are entering the market, meaning pricing pressures are going to continue. People who need to sell a home but wait two years will have to sell their homes for less money and get less favorable terms from the banks. If you know you’re going to have to sell in the next few years, do yourself a big favor and contact me today!

The number of foreclosed homes and distressed property sales are on the rise, and the toughest part of this for home sellers is that properties in newer conditions are the ones most often going into foreclosure, and that means properties with modern amenities are selling at lower prices everyday.

Foreclosed Homes And Distressed Property Sales

When we look at home sales in Tallahassee, sorted by the age of the homes that were sold, we can see that the newer ones are becoming foreclosed homes at a faster rate than are the older ones.

Foreclosed Homes By Age Of Home Tallahassee Florida CENTURY 21 Manausa and Associates 1140 Capital Circle SE #12A Tallahassee, FL 32301 (850) 366-8917 www.manausa.com

Think about how a surge of these new homes hitting the market will affect your ability to sell a home.

You will be trying to get a fair price for your home, but then a newer home with a newer roof, a newer heating and cooling system, and more modern amenities hits the market at a lower price. Which home do you think will be the next to sell?

I have been saying this for more than five years, plan to hold your home for many more years, or sell it right away. Those that try to wait-out the market for another year or two will end up selling a home for less.

Foreclosed Homes Are Not Going Away

Free List of Foreclosure Homes, REO Properties, and Short Sales In Tallahassee FloridaRemember, recent foreclosure and lis pendens reports show that new foreclosed homes are on the rise. This is not a declining trend!

If you are not certain about what to do, take some time to explore all of your real options. There are actually some great tactical opportunities available today for homeowners who still have good credit.

If you want to know more about these opportunities, just drop me a note and we can schedule a time to figure out your best plan for housing, knowing a wave of foreclosed homes is right around the corner.

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Last modified: September 5, 2013
About Joe Manausa

Joe Manausa, MBA is a 22+ year veteran of real estate brokerage in the State of Florida and has owned and managed his own company since 1992. He is a daily blogger with content that focuses on real estate analytics and providing his clients with a tactical advantage in today's challenging market.

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IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

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

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