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Tallahassee, FL Real Estate News

By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
528 Truett Dr, Tallahassee, FL Click here to Get Directions$400000 4 Beds - 2 Baths - 0.27 acres Lot Photos Maps & Local Schools Print Coming Soon till 3/14!! Location is top tier on a lot that would be very difficult to find again! Seller will replace roof prior to closing with acceptable offer. Perfect for large family needing extra space. Exterior space with unmatched potential for entertaining large groups or happy pets! Minutes from the Capital, FSU and the highway. Showings start 3/14! Follow This Home
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
4880 Quail Valley Road, TALLAHASSEE, FL Photos Maps & Local Schools Print Click here to Get Directions$930000 4 Beds - 3.5 Baths - 1.81 sqft Lot OPEN HOUSE 4/20 from 12PM - 2PM! Nestled on a sprawling 1.8 acre lot, this White Oak Construction 4-bedroom, 3.5-bathroom luxury POOL home is ready for summer! This home has a gorgeous updated kitchen with Thermador appliances, Calacatta quartz counters, beautiful solid wood and brick floors, and detailed trim work throughout. The sitting room off the kitchen works well as a supervised study space, play area, or home office. Ample space with 3 bedrooms downstairs, an additional bedroom and bath upstairs, and a HUGE 32x24 bonus space with wet bar is perfect for both watching movies and family game nights. Enjoy the expansive back porch overlook...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
1513 Atkamire Dr #A & B, Tallahassee, FL Click here to Get Directions$275000 5 Beds - Photos Maps & Local Schools Print FANTASTICOPPORTUNITY on a quiet street walking distance to FSU!! Featuring three bedroom, one bath apartment UP (APT A) and two bedroom, one bathroom apartment DOWN (APT B), this property is an investors or owner-occupants dream. Both apartments feature extensively renovated interiors and many structural updates (APT A - 2019 Roof, 2018 Water Heater, 2020 HVAC; APT B - 2019 Roof, 2018 HVAC, renovated kitchen with new appliances), but also allowing the next owner to put their personal touch on the home. This ideal location is convenient to shopping, schools, parks and entertainment for home buyers or is a great investment opportunity - do not miss this one before it is...
Comments 4
By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
1003 Hiawatha Drive, Tallahassee, FL Click here to Get Directions$225,000 4 Baths - 0.25 acres Lot Photos Maps & Local Schools Print Nestled in Southeast Tallahassee, this fantastic three bedroom, two bath lives large with a well appointed kitchen with updated appliances and breakfast nook opening into the living room, a separate dining or additional living space or office space, vaulted ceilings in the private & oversized master suite upstairs with his-and-hers closets, interior laundry and an abundance of windows throughout the home that allow for much desired natural light. Updates have been completed (2020 HVAC and duct work, 2019 Roof & 2021 Water Heater). This ideal location is convenient to downtown, shopping, parks and entertainment for home buyers, or is a great investment opp...
Comments 4
By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
  Whether you own a home or lease home, want to sell a home or buy a home, the most important thing that you can do is to educate yourself on what is going in the current real estate market. A comprehensive housing report for your local area is more critical today than it has ever been in the past. There are changes coming that can be clearly seen if you are looking at the correct information. Housing markets do not move so quickly, so recognizing change trends might be easier than doing the same type of analysis in the stock market. A Comprehensive Housing Report Starts With Supply And Demand Nothing gives you a better indication on the current state of the real estate market than a summary of supply and demand. Ideally, this summary should be broken-down by areas and price ranges so c...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
Home Buyers have been increasing their activity in the Tallahassee real estate market, but the ending of the Homebuyer Tax Credit could slow them down. The peak of the market back in 2006 saw sales of nearly 16 homes per day, but by the time the market bottomed, we were seeing just  6 home sales per day. Home buyers were clearly speaking their opinions of home values in the Tallahassee real estate market. The following real estate graph shows a great recovery has begun in mid August of last year. When we zoom in on the recovery, we can actually track the market change to the very, very bottom. August 17th was the last day of the declining market and the recovery started the very next day. This coincides with old First Time Homebuyer Tax Credit and the seasonal strength of the summer mar...
Comments 4
By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
The rate at which home sellers “failed to sell” has been dropping since August 2009, when the rate hit 85%. We measure the total number of listing failures (homes that expired, canceled, or were withdrawn) in the Tallahassee MLS, and divide that number by the total number of new listings over the same period of time. Currently, the trend is at 72%, which while better than before, still isn’t very good if you want to sell a home. Even though the failed to sell rate continues to improve for home sellers, the fact is that nearly 3 out of every 4 home sellers are making it to the end of their listing period without achieving a sale on their home. Over time, these homes are just piling up in the shadow inventory and will eventually make it back to the market as increased inventory. We will c...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
Tallahassee year over year home sales improved for a wonderful 6 out of the past 7 months, according to the newest real estate market data that I reviewed this morning. This report gives us a great perspective on the relative movement of the housing market over time. The real estate graph above is very simple. As each month is computed, it is compared with its corresponding month from the previous year (this April was compared to April 2009). If there were more home sales during the month this April than last, it will be reflected with a percentage growth above the zero line. If the contrary is true, it will show the percentage drop below the zero line. Now that we have posted gains for six out of the past seven months, we should be able to feel comfortable that the recovery is under wa...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
Recently, a long-time reader from out of State (Robert) contacted me to ask for help. Robert had purchased a residential lot in Tallahassee with the intent of relocating to Tallahassee and building a home. With the turn of the economy, Robert believes that he might not be able to move here for another 3 to 5 years, so he asked me if he should sell or hold his real estate. My initial reaction was to ask if he thought he would ever move here. Robert indicated that with family in the area, he would still like to move here, but will have to wait for better economic times. I told Robert that I would take a look at the lot but believed that he was going to be better of just holding it until he was ready to build. The following case study demonstrates the process that I would encourage Robert ...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
Many people have opinions on the state of the housing market, but the easiest way to understand current and future conditions is to monitor the movements in the real estate absorption rate. Mathematically, this is the measurement of current housing supply divided by the current rate of sales, expressed in months of supply. A simpler way to express the definition of the real estate absorption rate is to say it is the number of months that the market will need for the foreseeable future. Thus, 17 months of supply would mean that at our current rate of sales, we have all the homes for sale in Tallahassee that the market needs for the next 17 months. So how do we put this into perspective. Consider this: The typical home seller would like to move within two to four months of placing their ...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
Choosing to sell a home “For Sale By Owner” is not working very well these days. I certainly understand wanting to save money. This is a very tough economy and every dollar matters to most families, so don’t for a second think that I don’t understand why somebody would try to sell a home without having to pay for a REALTOR. I get it. I understand. Trying to save money is wise, knowing how to do it might be a whole bunch tougher than some people might think. For our regular visitors here at the Tallahassee Real Estate Web Site, it is known that currently 73% of the homes that were listed for sale last year failed to sell. That’s right, 3 out of 4 home owners who thought they were going to sell their home ended up going the whole term of their listing agreement and failed to get a contrac...
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By Carol Palacios
(Century 21 Manausa & Associates)
Joe Manausa | Century 21 First Realty | 850.523.6118 7551 Preservation Rd, Tallahassee, FL 5BR/3BA Single Family House offered at $478,000 Year Built 2004 Sq Footage 3,332 Bedrooms 5 Bathrooms 3 full, 0 partial Floors 1 Parking 3 Car garage Lot Size .60 acres HOA/Maint $0 per month DESCRIPTION On 18 fairway, greenspace in back, lake view in front. Extensive multi-trey ceilings, 12 ft ceilings, hardwood in all rooms except 3 bedrooms. Custom maple cabinets, stainless appl. including gas stove, bread warmer and Corian countertops. Kitchen opens to family room with dual faced gas fireplace w/ many windows. Master has ornamental fireplace, large walk in his/her closets Jacuzzi tub, sep. shower. Competitively priced! Move-in ready! see additional photos below PROPERTY FEATURES - Central A/C...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
  Golden Eagle Plantation is one of the Tallahassee neighborhoods that we review from time to time to get a feel of the movement of the higher end housing market in Tallahassee. Much like the other neighborhoods that we have reviewed, home values have fallen in Golden Eagle. With nearly 18 months of supply of homes for sale in Golden Eagle, you might think that this is a neighborhood that is really struggling to get by. Ironically, that is not the case. Compared with many other high value neighborhoods, Golden Eagle is doing pretty much the same, maybe even “less poorly.” High End Home Inventories Sky High The first thing that I look at each month as all the data from sales is collected is what effect recent sales have had on the relationship between supply and demand for housing in Tal...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
We must always remember that real estate is ruled by supply and demand, just as is every other commodity that is market driven. If one keeps a vigilant eye on the relationship between the supply and demand of homes for sale, then one should be able to clearly identify the near future movements of the the housing market. When I wrote an article on the supply and demand for housing in Tallahassee back in 2008, I forecast-ed dropping prices due to oversupply. This was not rocket science, just a simple study of housing inventories. Today’s post is somewhat more complex, but if you take the time to fully understand what it demonstrates, then you will truly understand why home values will continue to drop. This is not your typical “REALTOR” blog article, rather it is a fair and accurate anal...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
Killearn Lakes Unit 1 home values appear to be somewhat more stable than many of the homes in other Tallahassee neighborhoods. Home values are still dropping in KLP1, but they are no where near the levels that we have seen elsewhere. In the real estate graph below, we have plotted all of the monthly average home values in Killearn Lakes Unit 1 and then determined the 1 year (red line), the 5 year (green line), and the 10 year trend (blue line) of average home values. By studying these “moving averages” we can get a feel for where the housing market is headed. A few points that jump out at me when I look at this graph of Killearn Lakes Unit 1 home values is that much of the results parallel the rest of the Tallahassee real estate market. It appears the market peaked 3 or 4 years ago, and...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
Killearn Lakes Unit 1 home values appear to be somewhat more stable than many of the homes in other Tallahassee neighborhoods. Home values are still dropping in KLP1, but they are no where near the levels that we have seen elsewhere. In the real estate graph below, we have plotted all of the monthly average home values in Killearn Lakes Unit 1 and then determined the 1 year (red line), the 5 year (green line), and the 10 year trend (blue line) of average home values. By studying these “moving averages” we can get a feel for where the housing market is headed. A few points that jump out at me when I look at this graph of Killearn Lakes Unit 1 home values is that much of the results parallel the rest of the Tallahassee real estate market. It appears the market peaked 3 or 4 years ago, and...
Comments 0
By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
I like seeing the steady growth in the number of home sales, as we inch higher and higher towards historical norms. And there are some other positive signs in the Tallahassee real estate market that are evidenced in the real estate graph below. This one graph measures four very important one-year trends for home sales in the Tallahassee housing market. Remember, a one-year trend measurement removes the effects of seasonality as each point on the graph represents a 365 day rolling average. What we see now is four trends that are all moving in a direction that is beneficial to the return of appreciating home values: Daily New Listings – Currently at a 3 year low, the number of new homes coming onto the market seems to have leveled off at just 15 per day. This number represents nearly a 30...
Comments 0
By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
I like seeing the steady growth in the number of home sales, as we inch higher and higher towards historical norms. And there are some other positive signs in the Tallahassee real estate market that are evidenced in the real estate graph below. This one graph measures four very important one-year trends for home sales in the Tallahassee housing market. Remember, a one-year trend measurement removes the effects of seasonality as each point on the graph represents a 365 day rolling average. What we see now is four trends that are all moving in a direction that is beneficial to the return of appreciating home values: Daily New Listings – Currently at a 3 year low, the number of new homes coming onto the market seems to have leveled off at just 15 per day. This number represents nearly a 30...
Comments 0
By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
By closely monitoring the short term inventory trends in the Tallahassee housing market, we see evidence that the number of homes for sale in Tallahassee has stopped growing, as the annual seasonal growth trend has finished its course. What this means is that over the past 30 days, more homes have left the market than have entered. Real estate inventory levels have stopped rising. The short term inventory trends help identify current seasonal changes, if any. The graph below shows new inventory in red, departing (homes that sold, expired, canceled, etc.) in green, and the difference is shown in yellow. When the red is higher than the green, we see short term inventory trends grow, while when all we see is green, housing levels fall. Right now, the pattern has shifted back to reduction. ...
Comments 0
By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
Tallahassee single family detached home prices have been trending down since their values peaked at $222K in April of 2007. Today, the one-year trend of average single family detached home prices in Leon County has fallen to $191K, but we still are much higher than historic sales levels indicate where we should be. In the real estate graph below, we can see how significant the rise in prices were starting in 2003. The orange line in the graph below shows the pace of growth in the average price of a single family detached home during the 1990s, yet we blew way past this established growth rate during the five-year boom in the housing market. Had the boom not occurred, our past pace would have our average home price much closer to $170K, rather than our $190K+ level that we are seeing. P...
Comments 0
By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
The rate at which homes “failed to sell” has been dropping since August 2009, when the rate hit 85%. We measure the total number of listing failures (homes that expired, canceled, or were withdrawn) in the Tallahassee MLS, and divide that number by the total number of new listings over the same period of time. Currently, the trend is at 72%, which while better than before, still isn’t very good if you want to sell a home. The “failed to sell” trend is something that we find very disturbing, as the shadow inventory of homes is growing larger and larger as this trend continues to hover at roughly 3 in every 4 homes listed for sale ends up failing to sell. Will these homeowners be able to hang on by continuing to live in their homes, or will the end up selling for an amount that is short w...
Comments 0
By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
  Today marks the end of the Homebuyer Tax Credit for people who still want to take advantage of the stimulus money that the government felt would cure a wounded housing market. Nobody can argue that the stimulus did not stimulate, but it certainly did not fix the heart of the problem. It seems as if we need to get a few “numbers people” involved in this solution. Housing Market Needs To Stimulate Move Up Home Buyers For the sake of simplicity in this article, we will break potential buyers into two distinct groups. First time homebuyers (they do not currently own a home) and move-up buyers (they currently own a home and could include down-sizing buyers). It appears that nearly 100% of the effort in the housing stimulus program has been designed to attract the first time home buyer. It ...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
  It is always a sellers’ market in real estate, and it is important to know this whether you are buying or selling real estate. This is a fact that is often missed by people who want to buy a home, as well as by sellers who want to sell a home. If you have been paying attention to the housing market at all, then you know there is a nationwide glut of homes for sale. Both the National Association of Homebuilders and the National Association of REALTORS like to gloss over this fact, but the truth is we over-built in most areas around the country and it will take growth at each and every local level to consume the excess inventory of homes. We know that when trying to sell any commodity, when supply is far higher than the rate of demand, pricing pressure ensues and values drop until more ...
Comments 2
By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
  It is always a sellers’ market in real estate, and it is important to know this whether you are buying or selling real estate. This is a fact that is often missed by people who want to buy a home, as well as by sellers who want to sell a home. If you have been paying attention to the housing market at all, then you know there is a nationwide glut of homes for sale. Both the National Association of Homebuilders and the National Association of REALTORS like to gloss over this fact, but the truth is we over-built in most areas around the country and it will take growth at each and every local level to consume the excess inventory of homes. We know that when trying to sell any commodity, when supply is far higher than the rate of demand, pricing pressure ensues and values drop until more ...
Comments 0
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