Will Short Sales Return In 2015?

Weekly real estate report 233x300 Will Short Sales Return In 2015?, Tallahassee Real EstateWhile the distressed home sales market continues to grow in Tallahassee, the make-up of these sales has changed quite a bit in just the past year.

Just two years ago, nearly one half of all distressed home sales were short sales, meaning that banks were working-out a solution with the property owners that allowed for the home to transfer without the mortgage being fully repayed.

But short sales are plunging, all the while distressed home sales are on the rise. Simply put, homeowners are not choosing short sale as the solution to their current housing problem.

Find out why short sales are plummeting and what it will take to reverse this direction next year in this week’s one-page special report.

We’re Not Out Of The Woods Yet In Housing

Tallahassee Foreclosures 232x300 We’re Not Out Of The Woods Yet In Housing, Tallahassee Real EstateThe tide has turned in the distressed housing market unfortunately, as a long-term trend of good news has been replaced with news that is far from good.

New filings have risen now three months in a row, while foreclosure sales rose for the first time last month.

The fact that new filings have been rising for the past three months (after having fallen for the past two years) suggests that all of the problems have not been identified in the market.

See what this means for Tallahassee and whether or not you should be concerned about the stability of the market in this week’s one-page special report.

 

What The Recent Foreclosure Report Means For Tallahassee Housing

With the end of another quarter of home sales in Tallahassee, we have just recently updated our reports on lis pendens filings and foreclosure sales.

The trend of foreclosure sales is soaring, an unsurprising result of the past lis pendens filings that have occurred.

But a recent trend reversal on lis pendens filings is a cause for concern regarding the near future of home sales and values in Tallahassee.

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Is It Too Late To Short Sale Your Home?

There have been 57 short sale closings in Tallahassee through May 2014, down 59% from the 140 closed through May in 2013.

Before you start getting excited thinking that were are seeing an end to the plethora of distressed property sales in Tallahassee, you should also know that there have been 315 “other” types of distressed sales thus far in 2014, up 40% from the 225 closed through this time last year.

So we have to wonder, are we right in the middle of the real estate recovery, or have we begun moving towards the end game?

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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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Navigating The Tallahassee Real Estate Website

We get thousands of people coming to the Tallahassee Real Estate Website every day, but most visitors are only scratching the surface in terms of what we have to offer.

While many come to use our top rated property search tool or read an article about real estate in Tallahassee, just as many are not aware of the tools and resources that are available and just waiting to be used.

Today we’ll identify the fastest ways to navigate the Tallahassee Real Estate Website, and hopefully expose a few benefits that will provide a better user experience.

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Top Tip When Shopping Tallahassee Homes For Sale

I have noticed a common error being made by newcomers and experienced homebuyers alike when searching Tallahassee homes for sale, and I want to suggest a solution that will save many of you from heartache and financial loss.

You see, the housing market made a turn in 2008 to a place where no current buyers or real estate agents had ever been. This new market, where distressed properties were no longer a tiny niche but rather a main staple of the houses available, made the process of determining value a rather complicated affair.

There have been many homebuyers in the past few years that paid too much for a home, because they did not have a solid grasp for what the home was worth when they made an offer. My tip will show you how to be a smarter buyer when you shop Tallahassee homes for sale.

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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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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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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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