Tallahassee Real Estate | Real Estate Tallahassee Florida | Homes For Sale Tallahassee
Century 21 Manausa & Associates - Tallahassee Real Estate
As we approach the end of April, it appears as if a new trend is forming for distressed homes in Tallahassee.
We use the term “distressed” when we refer to properties where the homes are being sold under “other than normal” conditions, such as short sales, foreclosures, and bank owned properties.
Currently, there are still hundreds of distressed homes for sale in Tallahassee and recent foreclosure activity suggests we should expect a lot more coming into the Tallahassee real estate market.
For our patient readers who have been waiting for the Tallahassee foreclosure update, the news is finally here.
And while our previous warning that the foreclosure situation in Tallahassee would become severe, it took the August home sales data to really understand how big this wave just might be.
[Read more...]
Tallahassee home owners considering a sale have most likely heard how tough the housing market is.
They might have heard some good news about Tallahassee home sales finally starting to turn around with modest gains over last year’s “Worst Year Ever” performance.
Upon entering the market however, they will find that 2012 is the toughest year on record to sell a Tallahassee home.
Yep, that’s right, the gains that we see in the Tallahassee real estate market are coming from distressed home sales, not from people with equity in their homes.
When we look at the real estate graph above, we see that distressed home sales comprise 37% of the closings in the Tallahassee MLS, and their share of the market is rising.
When we look at arms length home sales in Tallahassee, we find that 2012 has seen the worst January through July performance in more than 11 years.
In the real estate graph below, all distressed property sales have been removed, revealing arms length Tallahassee home values that have depreciated 2% and the number of sales have dropped about 1% since last year.
The average size of arms length Tallahassee home sales is growing.
Buyers, armed with excess supply to choose from as well as falling interest rates, are choosing to purchase bigger homes and spend their full budget rather than choosing to spend less money than they can afford.
This dynamic is important to understand. Tallahassee home values are falling, even as average home prices are on the rise.
Buyers are getting “more house,” as the graph above shows.
Many real estate reporters are noting rising “average prices,” but they are failing to report that buyers are getting rising “average sizes.” Interest rates falling have allowed buyers to spend more money, but it does not mean they are still buying the same Tallahassee home.
Do not fall into the trap of believing that average prices directly correlate to appreciation or depreciation during a short term trend.
| Neighborhood | Address | SP | Price/ SQF | Closing Date | SQF |
| Killearn Estates | 2365 Ryan Place | $109,000 | $92 | 7/31/2012 | 1,189 |
| Killearn Commons | 8520 Hannary Cir | $200,000 | $106 | 7/31/2012 | 1,884 |
| Southwood | 3005 Dickinson Drive | $225,000 | $126 | 7/31/2012 | 1,782 |
| The Timbers | 806 Timbers Court | $70,000 | $71 | 7/31/2012 | 987 |
| None | 19104 Talquin Dr | $415,000 | $150 | 7/31/2012 | 2,766 |
| Holly Hills | 2107 Evergreen Dr | $90,000 | $80 | 7/31/2012 | 1,127 |
| Huntington Woods | 2827 Duffton Court | $108,000 | $87 | 7/31/2012 | 1,237 |
| Huntington Woods | 3116 Dunkeld Place | $136,900 | $80 | 7/31/2012 | 1,703 |
| Magnolia Manor | 903 E Call Street | $124,000 | $126 | 7/31/2012 | 988 |
| Brockswood Park | 1403 Devils Dip | $139,000 | $70 | 7/31/2012 | 2,000 |
| Highgrove | 4738 Highgrove Road | $385,000 | $119 | 7/31/2012 | 3,225 |
| Pine Tip Hills | 576 Frank Shaw Road | $750,000 | $160 | 7/31/2012 | 4,700 |
| Waverly Hills | 2808 Sterling Drive | $244,900 | $115 | 7/31/2012 | 2,128 |
| Sweet Water Oaks | 1739 Riverbirch Hollow | $177,000 | $97 | 7/31/2012 | 1,820 |
| Buckhead | 4602 Oakshire Ct. | $410,000 | $158 | 7/31/2012 | 2,591 |
| Bull Run | 2625 Opequon Way | $279,900 | $133 | 7/31/2012 | 2,102 |
| Bull Run | 2604 Ulysses Rd. | $269,900 | $149 | 7/31/2012 | 1,809 |
| Glen At Golden Eagle | 2396 Heathrow Drive | $180,000 | $104 | 7/31/2012 | 1,729 |
| Hampton Creek | 5038 Hampton Ridge Avenue | $134,900 | $121 | 7/31/2012 | 1,114 |
| Killearn Estates | 3112 Ferns Glen | $214,900 | $81 | 7/31/2012 | 2,662 |
| Killearn Estates | 3469 Hyde Park Way | $225,000 | $107 | 7/31/2012 | 2,100 |
| Ox Bottom Manor | 6103 Ox Bottom Manor Dr | $342,500 | $120 | 7/31/2012 | 2,856 |
| Pheasant Ridge | 2757 Fawn Ridge Court | $314,000 | $126 | 7/31/2012 | 2,500 |
| Renegade Condominiums | 403 Hayden Rd, #241 | $41,900 | $79 | 7/31/2012 | 531 |
| Scenic Heights | 1829 Devra Drive | $137,000 | $74 | 7/31/2012 | 1,856 |
| Southwood | 4235 Raleigh Way | $200,000 | $139 | 7/31/2012 | 1,444 |
| Summerbrooke | 530 Summerbrooke Drive | $345,000 | $128 | 7/31/2012 | 2,694 |
| Wood Ridge Condominiums | 1571 Stone Road | $67,000 | $66 | 7/31/2012 | 1,016 |
| Linwood Manor | 1102 Linwood Drive | $111,500 | $89 | 7/30/2012 | 1,253 |
| Pine Grove | 607 Truett Dr | $138,000 | $150 | 7/30/2012 | 920 |
| Weems Plantation | 3525 Lands End Lane | $147,000 | $114 | 7/30/2012 | 1,285 |
| Timber Lake | 4066 Cottage Wood Trail | $120,000 | $91 | 7/29/2012 | 1,314 |
| Piney Z | 1001 High Meadow Drive | $180,000 | $94 | 7/29/2012 | 1,919 |
| Ox Bottom | 7213 Ox Bow Cir | $500,000 | $112 | 7/27/2012 | 4,457 |
| Ox Bottom Manor | 6328 Pickney Hill Road | $276,000 | $125 | 7/27/2012 | 2,206 |
| Eagle’s Ridge | 9042 Eagles Ridge Dr | $205,000 | $117 | 7/27/2012 | 1,755 |
| Golden Eagle Plantation | 2146 W Golden Eagle | $687,500 | $164 | 7/27/2012 | 4,197 |
| Golden Eagle Plantation | 9013 Shoal Creek Dr | $450,000 | $145 | 7/27/2012 | 3,104 |
| Killearn Commons | 8405 Wellesly Place | $170,000 | $111 | 7/27/2012 | 1,530 |
| Killearn Lakes | 1781 Copperfield Circle | $225,000 | $109 | 7/27/2012 | 2,059 |
| Killearn Lakes | 3309 Micanopy | $228,000 | $123 | 7/27/2012 | 1,848 |
| Kinhega Landings | 2613 Sadie Lane | $314,000 | $112 | 7/27/2012 | 2,801 |
| Southwood | 3751 Overlook Dr | $365,000 | $134 | 7/27/2012 | 2,726 |
| Summerchase Condos | 4434 Gearhart Road #701 | $75,000 | $56 | 7/27/2012 | 1,344 |
| Hartsfield Plantation | 1901 Setting Sun Trail | $173,000 | $84 | 7/27/2012 | 2,058 |
| Westview | 1334 Charlotte Street | $67,500 | $58 | 7/27/2012 | 1,154 |
| Oak Wood | 3213 Allison Marie Court | $85,000 | $70 | 7/27/2012 | 1,216 |
| Tower Oaks | 5535 Tower Woods Trl | $96,000 | $88 | 7/27/2012 | 1,090 |
| Ben-Mor Hills | 807 Devon Dr | $155,000 | $78 | 7/27/2012 | 1,994 |
| Betton Oaks | 1497 Goodwood Court | $198,000 | $110 | 7/27/2012 | 1,800 |
| Lakeview | 1243 N Adams Street | $195,000 | $155 | 7/27/2012 | 1,260 |
| Breckenridge On Park | 156 W Whetherbine Way | $94,000 | $98 | 7/27/2012 | 960 |
| Starview | 212 Nabb Loop Road | $200,000 | $102 | 7/27/2012 | 1,954 |
| Sawgrass Plantation | 2417 Silver Palm Lane | $115,000 | $88 | 7/27/2012 | 1,308 |
| Breckenridge On Park | 344 Whetherbine Way | $66,900 | $76 | 7/27/2012 | 880 |
| Hollystone | 4945 Hollystone | $360,300 | $139 | 7/27/2012 | 2,601 |
| Southwood | 3809 Piney Grove Drive | $262,000 | $116 | 7/27/2012 | 2,250 |
| Killearn Lakes | 8804 Edenrock Lane | $197,000 | $103 | 7/26/2012 | 1,913 |
| Golden Park | 2524 Golden Park Lane | $90,000 | $70 | 7/26/2012 | 1,282 |
| Town N Country Park | 2219 Beech Drive | $146,000 | $93 | 7/26/2012 | 1,568 |
| Lakeshore Estates | 344 Lexington Rd | $123,000 | $82 | 7/26/2012 | 1,497 |
| Park Charleston | 1668 Osprey Pointe | $220,000 | $115 | 7/26/2012 | 1,905 |
| Breckenridge On Park | 263 Whetherbine Way E | $89,750 | $89 | 7/26/2012 | 1,008 |
| Rexwood | 2912 Oakwood Drive | $36,000 | $34 | 7/26/2012 | 1,044 |
| Tallahassee Center | 215 W College Ave 404 W | $98,500 | $246 | 7/25/2012 | 400 |
| Hermitage | 1316 Constitution Place W. | $685,000 | $146 | 7/25/2012 | 4,679 |
| Killearn Estates | 4052 Brandon Hill Drive | $277,000 | $122 | 7/25/2012 | 2,267 |
| Highland Terrace | 1344 Terrace | $177,500 | $94 | 7/24/2012 | 1,888 |
| Waverly Hills | 1106 Lasswade Drive | $272,500 | $124 | 7/24/2012 | 2,200 |
| Linene Estates | 2841 Green Forest Lane | $180,000 | $98 | 7/24/2012 | 1,844 |
| Killearn Acres | 6653 Man O War Trail | $160,000 | $101 | 7/23/2012 | 1,584 |
| Holly Hills | 2107 Skyland Dr | $160,000 | $92 | 7/23/2012 | 1,731 |
| The Timbers | 2190 Timberwood Cir N | $75,000 | $59 | 7/23/2012 | 1,280 |
| Betton Hill | 1310 Dillard St | $205,000 | $116 | 7/23/2012 | 1,770 |
| Bobbin Trace | 3798 E Millers Bridge Road | $585,000 | $148 | 7/23/2012 | 3,943 |
| Observation Pointe | 6165 Observation Circle | $214,900 | $132 | 7/23/2012 | 1,629 |
| Hutchinson Heights | 1337 Hutchinson Avenue | $18,500 | $22 | 7/23/2012 | 844 |
| Golden Eagle Plantation | 2173 Gates Dr | $325,000 | $121 | 7/20/2012 | 2,693 |
| Killearn Lakes | 2237 Tuscavilla Rd | $162,000 | $113 | 7/20/2012 | 1,433 |
| Killearn Lakes | 2312 Haverhill Road | $225,000 | $117 | 7/20/2012 | 1,918 |
| Foxcroft | 2987 Foxcroft Dr | $189,250 | $99 | 7/20/2012 | 1,912 |
| Lone Star Camp | 24098 Lake Talquin Rd | $167,000 | $109 | 7/20/2012 | 1,526 |
| Plantation Woods | 4214 Elder Court | $112,000 | $103 | 7/20/2012 | 1,087 |
| Sombra Del Lago | 5393 Sombra Del Lago Drive | $85,000 | $58 | 7/20/2012 | 1,474 |
| Township One North Unrec | 1622 Crosspointe | $220,000 | $106 | 7/20/2012 | 2,084 |
| Wilson Terrace | 414 Wilson Ave | $325,000 | $107 | 7/20/2012 | 3,040 |
| Golden Park | 2509 Fred Smith Rd | $93,000 | $73 | 7/20/2012 | 1,282 |
| Adiron Woods | 3000 Adiron Way | $241,200 | $146 | 7/20/2012 | 1,656 |
| Arbor Hill | 2732 Whitney Dr N | $123,000 | $99 | 7/20/2012 | 1,248 |
| Southwood | 3163 Nathaniel Trace | $302,404 | $151 | 7/20/2012 | 2,007 |
| San Luis On The Park | 1545 San Luis Rd | $112,000 | $82 | 7/20/2012 | 1,365 |
| Summerchase Condos | 4434 Gearhart Road | $85,500 | $64 | 7/19/2012 | 1,344 |
| Bloxham Terrace | 405 Mckeithen Street | $85,900 | $89 | 7/19/2012 | 960 |
| None | 414 El Destinado | $295,000 | $121 | 7/19/2012 | 2,440 |
| Tallahassee Highlands | 2487 Pennlyn Drive | $125,000 | $93 | 7/19/2012 | 1,350 |
| Buckhead | 4533 Timberloch Drive | $400,000 | $129 | 7/19/2012 | 3,105 |
| None | 24376 Lone Star Court | $283,000 | $152 | 7/18/2012 | 1,856 |
| Betton Hills | 2103 Lee Ave | $370,000 | $160 | 7/18/2012 | 2,307 |
| Killearn Estates | 3037 Corrib | $255,000 | $119 | 7/18/2012 | 2,145 |
| Lee Manor | 1014 Tanner Drive | $35,500 | $27 | 7/18/2012 | 1,325 |
| The Vineyards | 1902 Vineyard Way | $335,000 | $123 | 7/17/2012 | 2,718 |
| Ox Bottom | 8024 Evening Star Lane | $560,000 | $181 | 7/16/2012 | 3,089 |
| Ox Bottom Manor | 6353 San Martin Court | $285,000 | $118 | 7/16/2012 | 2,414 |
| Beechwood Knoll Townhouses | 2787 Beechwood Knolls | $117,000 | $76 | 7/16/2012 | 1,544 |
| Bull Run | 2567 Carthage Lane | $289,900 | $130 | 7/13/2012 | 2,225 |
| Killearn Estates | 3936 Leane Drive | $222,000 | $97 | 7/13/2012 | 2,296 |
| Killearn Estates | 2673 Nantucket Lane | $165,500 | $82 | 7/13/2012 | 2,024 |
| Southwood | 2471 Goldenrod Way | $250,000 | $135 | 7/13/2012 | 1,850 |
I hope this Tallahassee Home Sales Report has been enlightening, please come back and visit the Tallahassee Real Estate Blog for more reports on home values in Tallahassee.
The newest numbers are out regarding foreclosures in Tallahassee, and they are not good.
The second quarter of 2012 showed a 102% increase over foreclosures in Tallahassee during the 2nd quarter of 2011, a staggering rise by anybody’s standard.
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Last year, banks were handcuffed due to the robo-signing scandal, but this year the gloves are off and the banks are trying to clear their books of these non-performing loans.
The image above shows that you can always access the most recent reports of foreclosures in Tallahassee on the navigation bar above the blog, and going there will reveal these recently published reports on new lis pendens filings in Tallahassee:
In the real estate graph above, we see the one-year trend of new lis pendens filings (green bars), the trend of new foreclosure sales (red bars) and the ratio of these two recordings (blue line). The ratio is important because it shows how foreclosure sales are far more likely today after a lis pendens filing (42% of the time) than they were historically (12%).
In the past, when somebody was served with a lis pendens, they would sell a home in order to save the equity in the home. In fact, only 12% of the time did these typically end up in a foreclosure sale.
But things are different today. Nearly half of all lis pendens filings are going to a foreclosure sale, and homeowners are rarely in a position to defend any equity.
The overall impact on the market is simple.
Distressed properties are no longer a niche part of the market that we can ignore. Foreclosures in Tallahassee will be a major driver in the market for many more years, and these high-motivation sellers will continue to reduce prices until they are all gone.
If you have a sell a home in Tallahassee, you need to understand your place in the market. If you are a distressed sale, then buyers have an expectation of value. If you are an arms-length sale (non-distressed), then buyers have an expectation of condition and terms, and they will not get too crazy on the price.
If you are thinking about selling your home, drop me a note and we can review how foreclosures in Tallahassee affect your specific home and whether or not now is the best time for you to sell your home.
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?
Home 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.
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.
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.
Remember, 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.
In October of 2009, I warned about a tidal wave of distressed property sales coming our way, and it now appears as if they have arrived.
Thus far in April, 42% of all residential closings were distressed property sales, and the one year average is at 33%. Simply put, one in every three homes sold in Tallahassee over the past year has been a short sale, foreclosure, or bank owned property.
When we look at a graph of the rising trend, the analogy of the tidal wave is hard to overlook.
In the real estate graph below, we see arms length home sales plotted in green, while distressed property sales are shown in red. The monthly measurement of distressed properties as a percentage of all homes sold in Tallahassee is shown in red, and the one year average is shown in blue.
Now that the robo-signing scandal is behind us, don’t be surprised when we see that red line start popping above the 50% level. The market for short sales in Tallahassee is growing, as banks are reducing the time it takes to process a file. This can only be seen as a step in the right direction, though arms-length home sellers will be hard pressed to sell a home without competing on price.
| Neighborhood | Address | SP | Price/ SQF | Closing Date | Year Built | SQF |
| Forest Green | 2034 Sugar Maple Court | $127,000 | $82 | 4/20/2012 | 1985 | 1,550 |
| Villages At Wilson Green | 4206 Ridge Haven Rd | $71,400 | $56 | 4/20/2012 | 2007 | 1,286 |
| Emerald Acres | 2725 Gemstone Lane | $150,000 | $69 | 4/20/2012 | 1996 | 2,189 |
| Lake Cassie | 1825 Benado Lomas Drive | $225,000 | $93 | 4/19/2012 | 2004 | 2,412 |
| Twin Lakes Community | 1518 Twin Lakes Circle | $78,600 | $68 | 4/19/2012 | 1982 | 1,152 |
| Woodbriar | 3298 Sawtooth Drive | $67,000 | $50 | 4/18/2012 | 2005 | 1,328 |
| Woodrun Garden Homes | 2563 Chandalar Lane | $114,000 | $72 | 4/18/2012 | 2007 | 1,579 |
| Mission Manor | 6144 Greenon Lane | $49,900 | $44 | 4/18/2012 | 1981 | 1,126 |
| Mallard Pond | 5269 Quail Valley Road | $490,000 | $105 | 4/18/2012 | 2002 | 4,671 |
| Chase’s Run | 2740 W Tharpe Street | $61,380 | $51 | 4/17/2012 | 2005 | 1,212 |
| Woodbriar | 3285 Sawtooth Drive | $67,000 | $50 | 4/17/2012 | 2005 | 1,328 |
| Adams Place Condominiums | 3000 S Adams Street | $57,000 | $45 | 4/16/2012 | 2005 | 1,264 |
| Mystic Woods Condominiums | 317-213 Mabry Street | $32,500 | $40 | 4/16/2012 | 1984 | 808 |
| Dry Creek Run | 3571 Clear Creek Dr | $92,500 | $66 | 4/16/2012 | 2005 | 1,399 |
| Pebble Brooke | 782 Brooke Manor Dr | $105,000 | $76 | 4/13/2012 | 2007 | 1,377 |
| Merry Oaks Townhomes | 1535 Merry Oaks Court | $55,000 | $57 | 4/13/2012 | 1988 | 960 |
| Woodbriar | 3337 Woodbriar Lane | $120,000 | $75 | 4/13/2012 | 2006 | 1,610 |
| Village Square Townhomes | 1515-34C Paul Russell Rd | $38,700 | $26 | 4/13/2012 | 1975 | 1,475 |
| Dry Creek Run | 901 Saddle Creek Run | $76,000 | $61 | 4/13/2012 | 2005 | 1,249 |
| John Davis Prop Unrec | 1702 Ferndale Place | $153,000 | $84 | 4/13/2012 | 1981 | 1,811 |
| Wolf Creek | 1941 Nena Hills Drive | $72,000 | $54 | 4/13/2012 | 2005 | 1,344 |
| Jacksons Gap | 5620 Jacksons Gap Road | $199,900 | $123 | 4/12/2012 | 2010 | 1,630 |
| Killearn Lakes | 8259 Chickasaw Trail | $121,500 | $67 | 4/12/2012 | 1986 | 1,810 |
| Bluffs At Deerpointe | 6714 Walden Circle | $162,000 | $80 | 4/12/2012 | 1988 | 2,024 |
| Oak Ridge South | 279 Oakview Drive | $24,000 | $19 | 4/12/2012 | 1977 | 1,276 |
| Harbinwood Estates | 2138 Faulk Drive | $125,000 | $85 | 4/10/2012 | 1979 | 1,479 |
| Miccosukee Hills | 1508 Coombs Dr | $122,000 | $76 | 4/9/2012 | 1959 | 1,597 |
| Griffin College Heights | 1002 Clay St | $20,000 | $20 | 4/9/2012 | 1959 | 1,008 |
| None | 921 Splendor Road | $87,000 | $73 | 4/9/2012 | 2006 | 1,196 |
| Hampton Creek | 5582 Hampton Hill Cir | $140,000 | $89 | 4/8/2012 | 2006 | 1,571 |
| Southwood | 3558 Four Oaks Blvd | $157,000 | $89 | 4/6/2012 | 2005 | 1,760 |
| Summerbrooke | 1001 Summerbrooke Drive | $365,000 | $81 | 4/6/2012 | 1995 | 4,500 |
| Killearn Lakes | 1583 Copperfield Circle | $215,000 | $98 | 4/5/2012 | 1991 | 2,198 |
| Eastgate | 2724 Bedford Way | $113,000 | $74 | 4/5/2012 | 1974 | 1,528 |
| Lakeshore Estates | 280 Timberlane Road | $135,000 | $86 | 4/5/2012 | 1993 | 1,564 |
| Indianhead Acres | 1605 Wekewa Nene | $69,000 | $45 | 4/5/2012 | 1969 | 1,522 |
| Talco Hills | 2441-C Talco Hills Drive | $39,500 | $44 | 4/4/2012 | 1983 | 896 |
| Wren Hollow Unrecorded | 2478-B Wren Hollow Drive | $32,500 | $39 | 4/3/2012 | 1981 | 828 |
| Baker Place | 6934 Grenville Road | $410,000 | $119 | 4/3/2012 | 2000 | 3,443 |
| Brighton Place Condos | 1575 Paul Russell | $103,000 | $59 | 4/2/2012 | 2006 | 1,740 |
| Richview Park Unrec | 452 Richview Park Circle West | $79,900 | $85 | 4/2/2012 | 1991 | 936 |
| Village Square Townhomes | 1515 Paul Russell | $30,000 | $20 | 4/2/2012 | 1975 | 1,511 |
| Woodbriar | 3252 Sugar Berry | $65,000 | $49 | 4/2/2012 | 2005 | 1,338 |
| Talco Hills | 2441-A Talco Hills | $38,830 | $35 | 4/2/2012 | 1984 | 1,100 |
| Chase’s Ridge | 1143 Brafforton Drive | $79,000 | $78 | 3/30/2012 | 1990 | 1,008 |
| Tyson Green | 3693 Tyson Way | $60,000 | $48 | 3/30/2012 | 2008 | 1,260 |
| Killearn Acres | 6483 Joe Cotton | $70,133 | $52 | 3/30/2012 | 1982 | 1,356 |
| Bloxham Heights Unrec | 1606 Levy Ave | $22,000 | $21 | 3/30/2012 | 1963 | 1,072 |
| Wolf Creek | 1684 Corey Wood Cir | $62,000 | $50 | 3/30/2012 | 2006 | 1,242 |
| Chase’s Run | 2740 W Tharpe Street | $55,000 | $45 | 3/30/2012 | 2005 | 1,212 |
| Lakeside | 4350 Cool View | $135,000 | $85 | 3/30/2012 | 1997 | 1,587 |
| Adams Place Condominiums | 3000 S Adams Street | $48,300 | $47 | 3/30/2012 | 2006 | 1,037 |
| None | 511 Lynndale Drive | $28,630 | $34 | 3/30/2012 | 1955 | 850 |
| Villa Mitchell | 770 Sw Wailes Street | $40,000 | $40 | 3/30/2012 | 2006 | 988 |
| Carolina Oaks | 426 W Carolina St | $100,000 | $56 | 3/30/2012 | 2006 | 1,792 |
| Natural Wells | 10103 Green Fountain Rd | $92,000 | $74 | 3/30/2012 | 2006 | 1,248 |
| Lake Cassie | 1809 Benado Lomas Drive | $231,100 | $90 | 3/29/2012 | 2004 | 2,573 |
| Waverly Hills | 410 Coldstream | $139,900 | $85 | 3/29/2012 | 1955 | 1,647 |
| None | 10089 Tram Rd | $85,000 | $61 | 3/29/2012 | 1982 | 1,384 |
| Southwood | 2500 Twain Drive | $275,000 | $126 | 3/29/2012 | 2006 | 2,184 |
| Southwood | 3258 Belle Meade Trail | $507,310 | $103 | 3/29/2012 | 2005 | 4,940 |
| Magnolia Place | 635 Chancey Lane | $268,000 | $124 | 3/29/2012 | 2003 | 2,162 |
| Meadows At Woodrun | 2149 Portsmouth Circle | $56,500 | $49 | 3/28/2012 | 1979 | 1,152 |
| Apalachee Ridge | 922 Kendall Drive | $26,000 | $25 | 3/27/2012 | 1993 | 1,056 |
| Sierra Woods | 8266 Sierra Woods Dr | $247,500 | $107 | 3/26/2012 | 2005 | 2,317 |
| Windsor Hills | 1720 Canterbury St | $93,500 | $77 | 3/26/2012 | 1960 | 1,212 |
| Weems Plantation | 3497 Barnstaple Drive | $143,200 | $82 | 3/23/2012 | 2004 | 1,749 |
| High Hills | 15178 High Hill Cir | $190,000 | $88 | 3/23/2012 | 2006 | 2,160 |
| Killearn Commons | 8580 Hannary Circle | $166,000 | $93 | 3/23/2012 | 1995 | 1,787 |
| Sable Chase | 1814 Acorn Ridge Trail | $169,900 | $94 | 3/23/2012 | 2005 | 1,806 |
| Shannon Forest | 3793 Patch Drive | $178,500 | $76 | 3/23/2012 | 1988 | 2,358 |
| Woodlands | 9350 Shumard Drive | $76,000 | $64 | 3/23/2012 | 2006 | 1,182 |
| Woodbriar | 3391 Woodbriar Lane | $99,900 | $73 | 3/23/2012 | 2006 | 1,369 |
| Dry Creek Run | 3586 Jim Lee Road | $85,000 | $65 | 3/23/2012 | 2006 | 1,300 |
| Richview Park Unrec | 440 Richview Park Cir W | $75,000 | $72 | 3/23/2012 | 1991 | 1,044 |
| Tallahassee Center | 215 W College – Penthouse 1001 Avenue | $312,900 | $120 | 3/23/2012 | 2006 | 2,613 |
| Killearn Acres | 3135 Swaps Trail | $90,000 | $72 | 3/22/2012 | 1981 | 1,248 |
| Betton Hills | 1518 Argonne Road | $178,000 | $74 | 3/22/2012 | 1973 | 2,391 |
| Brandt Hills | 1225 Halifax Ct | $117,000 | $93 | 3/22/2012 | 1965 | 1,262 |
| The Tennyson | 121 N Monroe Street #6001 | $329,900 | $187 | 3/22/2012 | 2006 | 1,765 |
| Natural Wells | 10167 Sandy Rock Ln | $89,000 | $70 | 3/21/2012 | 2006 | 1,275 |
| Dry Creek Run | 925 Saddle Creek Run | $99,000 | $81 | 3/21/2012 | 2005 | 1,224 |
| Killearn Lakes | 8185 Blue Quill Trail | $205,300 | $70 | 3/20/2012 | 1987 | 2,938 |
| Piney Z | 689 Eagle View Circle | $249,900 | $106 | 3/20/2012 | 2003 | 2,367 |
| Mystic Woods Condominiums | 317 (Bld 500) Mabry Street | $31,600 | $39 | 3/20/2012 | 1984 | 808 |
| The Timbers | 773 Timberwood Cir. E. | $60,000 | $47 | 3/20/2012 | 1993 | 1,268 |
| Meridian Ridge | 315 Meridian Ridge | $245,000 | $87 | 3/19/2012 | 2008 | 2,814 |
| Prince Murat Heights | 226 Day Street | $51,000 | $53 | 3/19/2012 | 1957 | 960 |
| Summerbrooke | 1387 Conservancy Dr E | $245,000 | $91 | 3/16/2012 | 1998 | 2,690 |
| Hartsfield Village | 2295 Nannas Loop | $65,000 | $57 | 3/16/2012 | 1989 | 1,144 |
| Summer Lake | 2712 Summermeadow Dr. | $125,000 | $68 | 3/16/2012 | 2007 | 1,841 |
| Tharpe Street Village | 1806 Meriadoc Road | $35,200 | $34 | 3/16/2012 | 1987 | 1,040 |
| Ox Bottom Manor | 6356 San Martin Court | $273,760 | $123 | 3/15/2012 | 1997 | 2,222 |
| Killearn Estates | 2829 Roscommon Drive | $214,500 | $70 | 6/15/2011 | 1969 | 3,069 |
| Chase’S Run | 2740 W Tharpe Street, Unit 402 | $62,000 | $51 | 3/15/2012 | 2005 | 1,212 |
| Harbinwood Estates | 4336 Oakmont | $120,000 | $77 | 3/15/2012 | 1973 | 1,564 |
| Park At Stonebriar | 1325 Stone Road | $110,000 | $62 | 3/15/2012 | 2005 | 1,785 |
| Killearn Lakes | 7733 Briarcreek Road | $105,500 | $84 | 3/14/2012 | 1984 | 1,256 |
| Miccosukee Woods | 9172 Stoney Pointe Court | $180,900 | $89 | 3/14/2012 | 2004 | 2,039 |
| Forest Heights | 1838 Sunset Lane | $95,000 | $69 | 3/14/2012 | 1957 | 1,378 |
| Russell’S Pond | 5207 Water Valley Drive | $104,900 | $69 | 3/14/2012 | 2001 | 1,520 |
| Sedgefield | 1277 Sedgefield Road | $136,000 | $101 | 3/13/2012 | 1988 | 1,344 |
| The Plantation At Heritage Oak | 4104 Old Plantation Loop | $157,500 | $102 | 3/13/2012 | 2008 | 1,540 |
| Stoney Creek Crossing | 1126 Fox Mill Drive | $238,000 | $112 | 3/9/2012 | 2004 | 2,123 |
| Golden Eagle Plantation | 8869 Blackheath Way | $280,000 | $106 | 3/9/2012 | 1995 | 2,630 |
| Chateau De Ville | 2020 Continental | $37,500 | $38 | 3/9/2012 | 1967 | 1,000 |
| Appoloosa Run | 2612 Nez Perce Trail | $67,803 | $38 | 3/9/2012 | 1973 | 1,769 |
| Golden Eagle Plantation | 9233 Shoal Creek Dr | $325,000 | $124 | 3/8/2012 | 2007 | 2,628 |
| Woodbriar | 3137 Sawtooth Drive | $67,000 | $50 | 3/8/2012 | 2005 | 1,328 |
| Jackson Village | 3769 Maria Circle | $65,000 | $65 | 3/8/2012 | 1983 | 1,007 |
| Killearn Acres | 3129 Swaps Trail | $145,000 | $119 | 3/7/2012 | 1981 | 1,220 |
| Griffin College Heights | 1019 Basin St | $50,000 | $25 | 3/7/2012 | 1956 | 2,018 |
| Killearn Lakes | 2231 Pine Landing Court | $105,000 | $71 | 3/6/2012 | 2000 | 1,478 |
| Dry Creek Run | 909 Saddle Creek Run | $104,500 | $76 | 3/6/2012 | 2006 | 1,381 |
| Southwood | 3157 Mulberry Park Boulevard | $120,000 | $91 | 3/2/2012 | 2002 | 1,324 |
| Villages At Wilson Green | 367 Wilson Green Boulevard | $75,000 | $63 | 3/2/2012 | 2006 | 1,198 |
| Hartsfield Place | 2525 Hartsfield Rd Unit 19 | $55,555 | $45 | 3/2/2012 | 2002 | 1,238 |
| Arbor Hill | 2617 Vassar Road | $120,000 | $92 | 3/1/2012 | 1976 | 1,308 |
| Woodbriar | 3293 Sawtooth Drive | $61,000 | $46 | 3/1/2012 | 2005 | 1,338 |
| Governors Inn | 209 S Adams Street | $45,000 | $90 | 3/1/2012 | 1990 | 500 |
| Weems Plantation | 3330 Dartmouth Dr | $134,500 | $94 | 2/29/2012 | 2002 | 1,432 |
| College Terrace | 520 Famcee Ave | $79,200 | $35 | 2/29/2012 | 1963 | 2,236 |
| Plantation Condominiums | 2203 W Pensacola J-7 | $35,000 | $40 | 2/29/2012 | 1968 | 880 |
| Circle Beautiful | 1546 Proctor St | $85,000 | $83 | 2/29/2012 | 1946 | 1,030 |
| Lakewood Estates | 5929 Split Oak Lane | $66,250 | $73 | 2/29/2012 | 1983 | 912 |
| North Lake Meadows | 7269 Newfield Drive | $63,000 | $53 | 2/29/2012 | 1987 | 1,200 |
| Lafayette Town Homes | 324 S Franklin Blvd. | $55,500 | $115 | 2/29/2012 | 1948 | 483 |
| Glen Hawk | 2051 Valkyrie Court | $86,500 | $73 | 2/28/2012 | 1999 | 1,185 |
| Hidden Valley | 3321 Thomas Butler Road | $85,500 | $79 | 2/28/2012 | 1982 | 1,080 |
| Majestic Oaks Condominium | 3100 Dian Road | $44,900 | $37 | 2/28/2012 | 2005 | 1,216 |
| Herring Place | 1940 Secret Harbor Court | $24,500 | $25 | 2/28/2012 | 1992 | 990 |
| Scenic Heights | 1809 Ivan Drive | $84,900 | $78 | 2/28/2012 | 1965 | 1,092 |
| Woodbriar | 3080 Sawtooth Drive | $68,000 | $51 | 2/28/2012 | 2005 | 1,338 |
| Northside Court | 2002 Casa Linda Ct | $36,475 | $30 | 2/28/2012 | 1962 | 1,200 |
| College Terrace | 2808 Wahnish Way | $48,000 | $36 | 2/27/2012 | 1982 | 1,320 |
| None | 2377 Tallahassee Dr | $133,000 | $93 | 2/27/2012 | 1981 | 1,436 |
| Adams Place Condominiums | 3000 S Adams St | $53,500 | $42 | 2/27/2012 | 2005 | 1,264 |
| Goose Creek | 6173 Jason Trail | $185,000 | $108 | 2/24/2012 | 2004 | 1,718 |
| Groves At Summerbrooke | 1618 Berry Hill Court | $125,000 | $71 | 2/24/2012 | 1997 | 1,756 |
| Killearn Lakes | 3205 Horseshoe Trail | $200,000 | $86 | 2/24/2012 | 1990 | 2,318 |
| Timber Ridge | 4642 Amber Valley Dr | $155,000 | $84 | 2/24/2012 | 1986 | 1,837 |
| Killearn Lakes | 11101 Wildlife Trl | $175,000 | $77 | 2/24/2012 | 1990 | 2,284 |
| Ridge At Velda Dairy | 3463 Velda Dairy Drive | $215,000 | $67 | 2/24/2012 | 2008 | 3,218 |
| Oak Valley | 5415 Water Valley Court | $61,500 | $57 | 2/24/2012 | 1990 | 1,080 |
| The Villages Of Summer Lake | 1775 Summer Meadow Place | $130,000 | $71 | 2/24/2012 | 2006 | 1,822 |
| Adams Place Condominiums | 3000 S Adams | $55,620 | $44 | 2/24/2012 | 2005 | 1,264 |
| Lafayette Oaks | 2148 Orleans Drive | $188,000 | $91 | 2/23/2012 | 1979 | 2,077 |
| Orange Blossom Heights | 3209 Notre Dame Street | $96,000 | $44 | 2/22/2012 | 1966 | 2,160 |
| Valley Green | 2400 Beechnut Lane | $68,700 | $53 | 2/21/2012 | 1989 | 1,298 |
| None | 312 Folsom Rd | $105,000 | $57 | 2/17/2012 | 1956 | 1,829 |
| Killearn Acres | 6433 Jet Pilot | $172,100 | $84 | 2/17/2012 | 1983 | 2,054 |
| Renegade Village | 926 Lipona Road | $32,500 | $36 | 2/17/2012 | 1985 | 896 |
| None | 4561 Old Bainbridge Road | $49,000 | $47 | 2/17/2012 | 1950 | 1,044 |
| Golf Drive Manor | 402 Wallis Street | $22,000 | $22 | 2/17/2012 | 1940 | 980 |
| None | 4240 Rabbit Pond Road | $228,500 | $80 | 2/16/2012 | 1978 | 2,843 |
| Shannon Forest | 3612 Barbary Drive | $85,000 | $49 | 2/16/2012 | 1973 | 1,722 |
| Brookwood Trace | 2014 Midyette Road #606 | $58,000 | $42 | 2/16/2012 | 2005 | 1,368 |
| Meadows At Woodrun | 8612 Chatham Court | $69,900 | $49 | 2/15/2012 | 1980 | 1,431 |
| Crawfordville Trace | 869 Sw Balkin Court | $71,800 | $57 | 2/15/2012 | 2004 | 1,256 |
| Hartsfield Village | 2367 Ian Drive | $75,000 | $63 | 2/15/2012 | 1995 | 1,184 |
| Merry Oaks Townhomes | 1547 Merry Oaks | $46,826 | $44 | 2/15/2012 | 1988 | 1,065 |
| Lafayette Town Homes | 504 E Pensacola St | $44,000 | $73 | 2/14/2012 | 1948 | 601 |
| Florida A&M | 1938 S Adams Street | $32,500 | $18 | 2/11/2012 | 1949 | 1,777 |
| Sandstone Ranch | 1669 S Trail Blazer Drive | $63,000 | $48 | 2/10/2012 | 2006 | 1,300 |
| Edinburgh Estates | 4398 Woodbridge Road | $80,000 | $42 | 2/10/2012 | 1982 | 1,886 |
| Dry Creek Run | 932 Indigo Creek Way | $114,250 | $81 | 2/9/2012 | 2009 | 1,414 |
| Buckwood | 3957 Bothwell Terrace | $45,000 | $40 | 2/8/2012 | 1984 | 1,120 |
| Bradford Brook | 1183 Cottonwood Lane | $21,100 | $16 | 2/7/2012 | 1988 | 1,344 |
| Tharpe Street Village | 1878 Meriadoc Rd. | $32,000 | $28 | 2/7/2012 | 1986 | 1,128 |
| Elberta Empire | 1316 Elberta Dr | $46,515 | $50 | 2/3/2012 | 1948 | 928 |
| Residences At Whispering Pines | 2731 Blairstone Rd | $23,900 | $26 | 1/31/2012 | 1972 | 907 |
| Cottages Of Miccosukee | 1627 Miccosukee Loop | $140,000 | $86 | 1/30/2012 | 2007 | 1,628 |
| Woodgate | 1509 Woodgate Way | $175,000 | $92 | 1/30/2012 | 1972 | 1,893 |
| Villages At Wilson Green | 4262 Ridge Haven Road | $75,000 | $57 | 1/30/2012 | 2006 | 1,325 |
| Brighton Place Condos | 1575 Paul Russell Road | $110,000 | $63 | 1/30/2012 | 2006 | 1,740 |
| Penny Lane | 1233 Penny Lane | $700,000 | $144 | 1/27/2012 | 1991 | 4,868 |
| Southwood | 2565 Twain Drive | $542,500 | $122 | 1/27/2012 | 2008 | 4,456 |
| Centerville Conservation | 6000 Brookfair Lane | $510,000 | $142 | 1/27/2012 | 2008 | 3,596 |
| Astoria Park | 2630 Mayfair Road | $85,000 | $65 | 1/27/2012 | 1971 | 1,305 |
| Hartsfield Plantation | 2969 Indian Springs Ln | $162,500 | $87 | 1/27/2012 | 1996 | 1,873 |
| Portland Townhouses | 1938 Portland Avenue | $35,900 | $34 | 1/27/2012 | 1973 | 1,044 |
| Residences At Whispering Pines | 2731 Blairstone Rd | $27,000 | $31 | 1/27/2012 | 1972 | 875 |
| Bull Run | 2656 Breton Ridge Drive | $279,000 | $113 | 1/26/2012 | 2005 | 2,475 |
| Olson Crest | 3231 Grant Creek Trail | $173,000 | $98 | 1/26/2012 | 2007 | 1,767 |
| None | 3511 N Meridian Road | $445,000 | $142 | 1/25/2012 | 2006 | 3,131 |
| Killearn Lakes | 8825 Minnow Creek Drive | $104,900 | $93 | 1/25/2012 | 1987 | 1,124 |
| Park Charleston | 1481 Harbor Club Dr | $190,000 | $108 | 1/25/2012 | 2006 | 1,760 |
| Western View Unrec | 4006 Chinook Street | $56,500 | $46 | 1/25/2012 | 1991 | 1,217 |
| Lehigh | 1337 Nancy Drive | $34,500 | $34 | 1/25/2012 | 1965 | 1,025 |
| Killearn Lakes | 3460 Rosemont Ridge Rd | $96,000 | $68 | 1/24/2012 | 1982 | 1,402 |
| Plantation Of The Pecan Endowment | 2255 Old Carrouth Path | $22,000 | $15 | 1/24/2012 | 1958 | 1,426 |
| Sawgrass Plantation | 2424 Needle Palm Way | $135,000 | $95 | 1/23/2012 | 1996 | 1,425 |
| Kirkwood | 3307 Sharer Road | $120,000 | $68 | 1/20/2012 | 1968 | 1,761 |
| Timber Lake | 4216 Red Oak Drive | $75,000 | $61 | 1/20/2012 | 1988 | 1,239 |
| Majestic Oaks Condominium | 3100 Dian Road #207 | $40,000 | $33 | 1/20/2012 | 2005 | 1,216 |
| Hartsfield Woods | 2307 Via Sardina Street | $55,000 | $48 | 1/20/2012 | 1989 | 1,144 |
| San Mateo | 1809 Hartsfield Road | $24,000 | $25 | 1/20/2012 | 1981 | 960 |
| South Gadsden Street Townhouses | 1605 S Gadsden St. | $50,000 | $45 | 1/20/2012 | 1984 | 1,120 |
| Charleston Ridge | 1320 Hendrix Rd #907 | $90,000 | $58 | 1/19/2012 | 2004 | 1,554 |
| Autumn Woods | 5629 Nature Lane | $85,000 | $68 | 1/18/2012 | 1978 | 1,257 |
| Golden Eagle Plantation | 3242 Pablo Creek Way | $400,000 | $143 | 1/13/2012 | 2005 | 2,795 |
| Killearn Lakes | 8137 Blue Quill Trl | $129,999 | $61 | 1/13/2012 | 1987 | 2,148 |
| Cypress Cove | 3355 Cypress Cove Ct | $75,000 | $63 | 1/13/2012 | 2002 | 1,195 |
| Betton Hills | 1532 Belleau Wood Drive | $415,000 | $147 | 1/13/2012 | 2007 | 2,827 |
| Crescent Hills | 1601 Crescent Hills Drive | $78,000 | $51 | 1/13/2012 | 2006 | 1,519 |
| Foxwood | 3703 Trevor Court | $195,000 | $80 | 1/13/2012 | 2004 | 2,430 |
| Timber Ridge | 1417 Pullen Rd #402 | $73,000 | $54 | 1/13/2012 | 2005 | 1,344 |
| Villas Of Westridge | 2244 Sandpiper St | $48,000 | $52 | 1/13/2012 | 1983 | 928 |
| Centerville Plantation | 10461 Centerville Plantation Road | $45,000 | $44 | 1/12/2012 | 1987 | 1,017 |
| Centerville Plantation | 10465 Centerville Plantation Rd | $45,000 | $44 | 1/12/2012 | 1987 | 1,017 |
| Forest Heights | 1902 Botany | $110,400 | $83 | 1/11/2012 | 1960 | 1,323 |
| Glen At Golden Eagle | 2521 Heathrow Drive | $152,400 | $101 | 1/10/2012 | 2003 | 1,502 |
| Arbor Hill Patio Homes | 3238 Mound Drive | $71,588 | $87 | 1/9/2012 | 1983 | 823 |
| Tharpe Street Townhouses | 1812 W Tharpe Street | $31,000 | $49 | 1/9/2012 | 1983 | 630 |
| Plantation Of Tallahassee Pecan Co | 2265 Old Carrouth Path | $8,900 | $9 | 1/6/2012 | 1950 | 1,000 |
| Farmview Estates | 7107 Calico Circle | $165,000 | $69 | 1/6/2012 | 1988 | 2,408 |
| Brighton Place Condos | 1575 Paul Russell Road | $102,500 | $59 | 1/6/2012 | 2006 | 1,740 |
| Timber Lake | 1528 Bent Willow Dr | $100,000 | $82 | 1/5/2012 | 1989 | 1,224 |
| Pineridge Estates | 5608 Westview Lane | $31,200 | $20 | 1/5/2012 | 1979 | 1,600 |
| Holland | 4216 Crawfordville | $29,000 | $21 | 1/3/2012 | 1959 | 1,366 |
I hope this distressed property sales report was enlightening, and of course, you can drop me a note any time to schedule a time to help you into or out of a distressed property situation.
If you are looking to buy a home that needs repairs, then you most likely have found plenty of opportunities in a housing market that is recording a record number of distressed property sales. But if you are not a cash buyer, then you most likely have also run into some difficulty in figuring out how to finance your purchase.
The days of easy loan programs that could solve these problems is over, and you have to know exactly what to do when you structure a contract to buy a home that needs repairs. Unless you plan on paying cash for the repairs, you must think-through the structure of your offer and communicate clearly with your chosen lender. Not all mortgage loan providers have products to fit your needs, so make sure you address this with your real estate agent before you begin the home selection process.
This is a good reason to ensure that you are working with a well-trained real estate agent, because if your agent is not up-to-date with the most recent lending programs, you will end up either spending more cash out of pocket, or losing the home to a buyer who has the better real estate agent who can structure a deal that can be financed.
There are so many short sales, foreclosures, and REO properties on the market, that necessary repairs are not uncommon when you select a home for sale in Tallahassee. Often times, these repairs can cost a significant amount of money, so you have to know how they will be addressed in the sales contract, who will pay for them, and which ones your lender will allow to be repaired after closing (by using a repair escrow with your real estate attorney).
Most lenders who allow for repair escrows maintain a list of things that they will allow to be escrowed, and the following list was given to me by Robert Barnette at Hancock Bank. His bank allows these items to be included in a repair escrow when you buy a home that needs repairs.
Here are some common repairs that need to be addressed prior to closing, as most lenders will not allow a closing to occur without these first being fixed:
After reading through this, you can see that experience matters! Choose your real estate agent and your mortgage lender before you start looking at homes, that way you will have a prepared team working for you should you decide to buy a home that needs repairs. If you plan on buying a home in Tallahassee, just drop me a note and we’ll schedule a time to meet and get you started on your way.
When we study the homes for sale in Tallahassee and its surrounding communities, we find a trend that is often mentioned by Dr. Lawrence Yun, Chief Economist for the National Association of REALTORS®. Dr. Yun has been reported a rising trend in the number of real estate contracts that fail to close, and the Tallahassee Area MLS supports his findings.
Dr. Yun attributes much of the housing woes to new lending standards that make it more difficult to finance a home, and he uses the statistical trend of contract cancellations as evidence of the difficulty to obtain financing. I am not so sure this is fair or accurate.
Happy Veterans Day! I challenge everyone to reach out to a veteran and personally thank them for their service. Better yet, dig into your pocket and give to one of the fine institutions such as the USO or the American Legion, which provide support services to our military and veterans.
The following real estate graph shows the rising trend of contract cancellations in the