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Tallahassee, FL Real Estate News

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...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
2801 Chancellorsville Dr #335, Tallahassee, FL Click here to Get Directions$239900 2 Beds - 2 Baths - 10890 sqft Lot Photos Maps & Local Schools Print This sleek updated 3rd floor condo is conveniently located in the desirable NE gated community of Barrington Park between WalMart and Chili's so both are only a few steps away. Condo features 2 BR's and 2 full baths with an upstairs loft perfect for a guest suite or office. The kitchen and baths feature brand new granite, sinks and plumbing fixtures and imported Italian tile flooring. Stainless steel appliances and upgraded light fixtures complement this contemporary home. Publix, Target, many restaurants and shopping are all within one mile of the community and I-10 is within 5 minutes. The neighborhood offers amenities such as a clubho...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
30 Sand Pine Cir, Midway, FL Click here to Get Directions$290000 3 Beds - 2 Baths - 10890 sqft Lot Photos Maps & Local Schools Print 2 hr notice for easy showings** **Heated/Cooled space in garage not included in sq ftg and can easily be removed** This turnkey All Brick property seems to tick all the boxes for convenience and comfort. Its close proximity to the highway, as well as its short commute of roughly 25min to the Capital and FSU stadium, make it incredibly desirable location. And with the added bonus of savings on property taxes and utilities, it's not just a great home but also a smart investment. Plus, knowing that the HVAC system was replaced in 2014 and the property has only been owner-occupied adds to its appeal. Follow This Home
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
Home values in the Glen at Golden Eagle are moving downwards, much like the rest of the Tallahassee real estate market. But there might be some signs of stabilization in this Northeast Tallahassee neighborhood which features homes from $150K to $250K. Recently, reader “Don” wrote in with some questions about the Glen at Golden Eagle. Don wrote: We’re always on here! I need some info about what is happening in the Glen Golden Eagle: Any forecasts for home values in this area? (down, way down) Is demand really low in the Glen? Is this neighborhood a reseller nightmare area? Is it hard to resell with a pool? Is there any thing about the Glen we should be asking, but have not? Will there be HOTTER deals in Ox Bottom in next 12-18 months that we should wait based on data we can ascertain, (e...
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By Carol Palacios
(Century 21 Manausa & Associates)
Joe Manausa | Century 21 First Realty | 850.523.6118 6110 Borderline, Tallahassee, FL 3BR/2BA Single Family House offered at $330,000 Year Built 1991 Sq Footage 2,048 Bedrooms 3 Bathrooms 2 full, 0 partial Floors 1 Parking 2 Car garage Lot Size 1 sqft HOA/Maint $0 per month DESCRIPTION Totally updated house. Very open and bright floor plan--and NO CARPET. Separate living and family rooms. Built-in work station. Gourmet kitchen with granite countertops, drop lights and beautiful wood cabinetry. HUGE backyard and lanai, begging for a pool. Alarm---please call owner night before to turn off. see additional photos below PROPERTY FEATURES - Central A/C - Central heat - Fireplace - Hardwood floor - Family room - Living room - Dining room - Dishwasher - Refrigerator - Stove/Oven - Microwave -...
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By Carol Palacios
(Century 21 Manausa & Associates)
Joe Manausa | Century 21 First Realty | 850.523.6118 3166 Ferns Glen Drive, Tallahassee, FL 5BR/4BA Single Family House offered at $294,500 Year Built 1981 Sq Footage 3,123 Bedrooms 5 Bathrooms 4 full, 0 partial Floors Unspecified Parking None Lot Size .55 acres HOA/Maint $0 per month DESCRIPTION Totally updated home, across the street from the lake. Children's Oasis in the backyard! Four or five bedrooms, including two Master Suites. New, designer bathrooms, open floor plan and recreation room or Man Cave completes the package. Almost any configuration you want with all this space. Very easy to show. see additional photos below PROPERTY FEATURES - Central A/C - Central heat - Fireplace - Hardwood floor - Tile floor - Family room - Living room - Bonus/Rec room - Dining room - Dishwashe...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
One of the first things you learn about the real estate market when you start a career in this business is that “real estate is local.” Basically, we had come to learn that people who buy and sell homes were from the local market area. But the internet is really changing the way things work in the housing industry. Now a days, the Tallahassee Real Estate Blog sees daily visitors from all over the world. With the analytics package that we maintain on our real estate web site, we get great reports showing our coverage of the worldwide real estate market. Does this help us with homes for sale in Tallahassee? Absolutely. The fact is many of our home buyers are shopping for real estate from many parts of the world. No longer do we just market our properties at the local level, we must reach...
Comments 2
By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
Last week, we uncovered an interesting methodology that we can use to evaluate long term home sales trends in the Tallahassee real estate market (or any other market in which you might have an interest). It involved using 20 years worth of housing market data in order to show the 1 year, 5 year, and 10 year moving averages for different metrics that we wanted to measure in the real estate market. No other measurement is more important than overall home sales activity, and we measure this by looking at monthly home sales each month. In the real estate graph below, we have recorded monthly activity along with all of the trends mentioned above. In the real estate graph above, we have borrowed an analysis process from Wall Street (thanks to long-time reader Steve R.). It has been a common p...
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By Brooke English
(Credit Restoration Consultants)
Debt collectors can no longer claim ignorance of the law as an excuse for violating the Fair Debt Collections Practices Act (FDCPA) while attempting to collect a debt. On Wednesday, the United States Supreme Court handed down a ruling that severely restricts the "bona fide error" defense under the Fair Debt Collection Practices Act for debt collectors that send erroneous collection notices. In a 7-2 ruling, the high court ruled that collection law firms could not use misinterpretations of the law in a "bona fide error" defense under the FDCPA. In the matter of Jerman v. Carlisle, McNellie, Rini, Kramer & Ulrich, Karen Jerman sued an Ohio law firm for violating the FDCPA when it attempted to foreclose on her home following payment on the mortgage. In its initial collection notice, the la...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
Killearn Lakes (Unit 2) home values have dropped roughly 20% since the top of the market three years ago. We keep a close eye on this  popular Tallahassee subdivision, as it is representative of what the median home buyer has been seeking in Tallahassee since I got in the business in 1991. Recently, long-time reader “Steven R.” answered my request for “math advice” in the analysis of home price forecasting, as he left the following advice in the comments of a recent blog post: Joe, I don’t think prices will drop 10%, but I can’t tell you exactly what it will do because you have the data. Rather than using regression toward the mean, you should plot the price of homes vs. moving averages. Select a moving average such that when the price crosses the moving average to the downside price mo...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
Killearn Lakes (Unit 2) home values have dropped roughly 20% since the top of the market three years ago. We keep a close eye on this  popular Tallahassee subdivision, as it is representative of what the median home buyer has been seeking in Tallahassee since I got in the business in 1991. Recently, long-time reader “Steven R.” answered my request for “math advice” in the analysis of home price forecasting, as he left the following advice in the comments of a recent blog post: Joe, I don’t think prices will drop 10%, but I can’t tell you exactly what it will do because you have the data. Rather than using regression toward the mean, you should plot the price of homes vs. moving averages. Select a moving average such that when the price crosses the moving average to the downside price mo...
Comments 0
By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
First time home buyers and home sellers were recently surveyed and more than 80% of them believe now is a good time to buy a home. CENTURY 21 conducted its First-Time Home Buyers and Sellers Survey, which captured and compared the opinions of prospective home buyers and sellers who either purchased or sold their first home within the past year or are planning to buy or sell their first home within the next year. More than 80% of first-time home buyers and sellers feel the current housing market is more affordable today than this time last year, despite the fact that 40 percent of all respondents are more worried about the economy compared to this time last year. While the attractive combination of home prices, mortgage rates and tax credits appeal to both buyers and sellers, market con...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
  13 year old Haley May wants to clean the pollen from your car. Haley is hosting the 3rd Annual Dollars For Diabetes Car Wash in order to raise money for the American Diabetes Association and she needs your help. Just drive your dirty car on May 1st, from 10-2, to the Farmers & Merchants Bank at Thomasville Road and Metropolitan Boulevard. As you might remember from the car wash last year, Haley was diagnosed with Type 1 Diabetes in June of 2007.  As she learned to live with this tough disease, she decided that she wanted to raise awareness about this disease, since 23 million Americans have either Type 1 or Type 2 Diabetes and another 54 million are pre-diabetic. One way she chose to do this was with a car wash.  She started in April of 2008 and had so much fun that she made it an ann...
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By Carol Palacios
(Century 21 Manausa & Associates)
Joe Manausa | Century 21 First Realty | 850.523.6118 3399 Woodbriar, Tallahassee, FL 3BR/2BA Single Family House offered at $120,000 Year Built 2005 Sq Footage 1,249 Bedrooms 3 Bathrooms 2 full, 0 partial Floors 1 Parking 1 Car garage Lot Size Unspecified HOA/Maint $0 per month DESCRIPTION SHORT SALE! All offers contingent on lien holder approval. MUST HAVE 24 HOUR NOTICE! Alt tenant # 850.385.5850. Currently rented at $950/month until 10/31/10- tenant will move out with 60 day notice. 2005 Model Home. Cherry hardwood floors, Lg corner lot, kitchen with cherry wood cabinets, large ceramic tile and appliances including deep freezer. Vaulted Ceilings. Well maintained and ready for move in. see additional photos below PROPERTY FEATURES - Central A/C - Central heat - Hardwood floor - Tile ...
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By Carol Palacios
(Century 21 Manausa & Associates)
Joe Manausa | Century 21 First Realty | 850.523.6118 3998 Calle De Santos, Tallahassee, FL 3BR/2BA Single Family House offered at $150,000 Year Built 1998 Sq Footage 1,518 Bedrooms 3 Bathrooms 2 full, 0 partial Floors 1 Parking 2 Car garage Lot Size .60 acres HOA/Maint $0 per month DESCRIPTION Move in ready, well maintained interior & exterior. Kitchen area including serving/eating island. All appliances inc. Property backs up to a conservation area/green space. Property is vacant show anytime. see additional photos below PROPERTY FEATURES - Central A/C - Central heat - Tile floor - Family room - Dining room - Dishwasher - Refrigerator - Stove/Oven - Microwave - Washer - Dryer - Balcony, Deck, or Patio - Yard ADDITIONAL PHOTOS Photo 1Photo 2Photo 3Photo 4Photo 5Photo 6 Contact info: Jo...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
Home values in Killearn Lakes Unit 3 have dropped nearly 20% since the peak of the market in 2007 and appear to have stabilized over the past six months. As far as Tallahassee neighborhoods go, Killearn Lakes Unit 3 seems to be doing relatively well. While there is still plenty of competition for the homes for sale in Killearn Lakes Plantation, it appears this desirable northeast Tallahassee neighborhood is holding its own. But homeowners need to be aware of current market conditions that suggest we will see prices drop another 10% or more in the coming years. If you missed our blog post on using regression toward the mean to forecast future home value movements, you might want to check it out. We used this mathematical modeling technique to forecast home value movements in Killearn Lak...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
In statistics, regression toward the mean refers to the phenomenon that a variable that is extreme on its first measurement will tend to be closer to the centre of the distribution on a later measurement. Sounds a bit geeky huh? Let's see if we can use it in a real-world scenario to forecast home values in a neighborhood. ------------------------- Ox Bottom home owners might have reason to be concerned with a mathematical concept known as regression toward the mean. You see, I have been playing around with a few ideas recently when trying to determine how far we should expect home prices in Tallahassee to fall, and a long-time friend reminded me the concept that I was investigating is known as “reversion or regression toward the mean.” This concept is defined on Wikipedia: In statistics...
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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 2
By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
Average real estate prices in Tallahassee continue to fall, with price levels consistent with the later months of 2004. The following real estate graph shows that the average price of the collection of single family detached homes, condominiums and townhouses is still dropping, and local builders have figured this out. The blue line in the  graph above shows that for the past year+, new construction prices have been lower, on average, than resales. This means that builders are building less expensive homes in order to satisfy the demand of today’s buyer. When we look back over 20 years, this is the only time that builders have been below existing home sales! When looking at average home prices in an area, we have to remember this is more of an indication of what home buyers are buying a...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
Residential sales in Tallahassee continue to trend upwards since the bottom of the market was hit in August of 2009. Falling home prices are enticing more buyers into entering the market and both trends look to continue for the foreseeable future. The following real estate graph shows residential sales trends by measuring unit sales and average prices of single family detached homes, condominiums, and town houses in the Tallahassee real estate market. In the real estate graph above, the blue vertical bars represent the average number of homes sold each month, while the red line shows the average home price for the past twelve months. Currently, the one-year falling trend of home prices has hit $187K, while the average number of homes sold each month rose to 271. Don’t be surprised to se...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
New evidence revealed in the latest Tallahassee Foreclosure Report indicates that distressed properties are being processed in a more efficient manner, leading us to believe that they will soon be entering the market. As one of the leading sources for the often discussed shadow inventory, we keep a vigilant eye on the processing of foreclosures in our area. Homes in the shadow inventory are poised to explode, entering a market that is already filled with a glut of homes for sale. For our new readers who are not up to speed on the shadow inventory, the following articles cover this very important topic in every real estate market: How Many Homes Are In The Shadow Inventory Ignoring The Shadow Inventory Will Not Make It Go Away We monitor lis pendens filings and foreclosure sales in Tall...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
  Is there a real estate industry conspiracy against people selling their house “For Sale By Owner?” Is there a secret network of agent informants who publish a list of homes for sale in Tallahassee that should be avoided at all costs? This question was posed on a national real estate aggregate site by a frustrated homeowner who wondered why real estate agents were not showing her home. I occasionally prowl these sites to see if there are any interesting real estate topics to write about, and I found the following question posted by a very unhappy homeowner: Is there a “secret handshake” agreement among realtors that they will not cooperate with FSBO sales even if offered a decent commission? I am getting some traffic in showings but noticeably less than with my previous agent, who did ...
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