Tallahassee, FL Real Estate News

By Joe Manausa, Tallahassee Real Estate
(Joe Manausa Real Estate)
May results of Realtor Sales show that while the Tallahassee Market is down, it is performing stronger than most of the Florida Markets. While most markets are down strong, their median sales price has dropped as well. But that is not the case in Tallahassee, where the median price actually rose 1%.FloridaSales Report - May 2007Single-Family, Existing Homes     Realtor Sales Median Sales Price Statewide &Metropolitan Statistical Areas (MSAs)   May2007   May2006   %Chge   May2007   May2006   %Chge STATEWIDE 12,607 19,072 -34 $237,000 $250,100 -5 STATEWIDE-YEAR-TO-DATE 58,292 81,199 -28 $237,000 $245,500 -3   Daytona Beach             644 912 -29 $196,800    $228,600 -14   Fort Lauderdale   574 862 -33 $367,700    $379,800 -3 Fort Myers-Cape Coral 575 993 -42 $281,500    $286,500 -2   For...
Comments 48
By Joe Manausa, Tallahassee Real Estate
(Joe Manausa Real Estate)
The following table shows the most active subdivisions in Tallahassee with information regarding inventory, 12 months sales, and inventory in terms of "months of supply." Subdivision Homes for Sale Average Asking Price 12 Month Sales Avg. Sales       Price Current Supply (Months) Leon County Total 3182 $282,664 4168 $224,874 9.2 SOUTHWOOD 135 $415,323 188 $325,531 8.6 Plaza Tower 101 $372,727 18 $164,367 67.3 Midyette Oaks Condominiums 72 $156,215 1 $350,000 864.0 Golden Eagle 67 $656,401 33 $592,411 24.4 Killearn Lakes 65 $278,608 109 $252,825 7.2 Killearn Estates 57 $348,619 119 $291,910 5.7 Bull Run 40 $365,813 54 $380,405 8.9 Killearn Acres 34 $258,756 68 $215,281 6.0 Woodbriar 32 $172,541 13 $168,926 29.5 UNIVERSITY GREEN 27 $171,752 5 $169,900 64.8 TALLAHASSEE CENTER 25 $431,332 1...
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By Joe Manausa, Tallahassee Real Estate
(Joe Manausa Real Estate)
Earlier I spoke of building wealth by purchasing rather than renting.  Even if you don't take my advice or find yourself in a financial/life situation where you just can't "pull the trigger" on a property purchase it is important to fully understand the leasing process.  To ensure you are not disadvantaged by a landlord's (Lessor) "standard form" which most likely does not look out for your (Lessee) interests, l always recommend attorney review of the contract - yes a lease is a contract that is binding.To back up a little, let's first describe the basic lease forms.  Leases for both commercial and residential properties come in three basic forms:Gross lease: Landlord pays for almost all of the operating expenses of the property.  This is the most common type of lease for the residentia...
Comments 50
By Joe Manausa, Tallahassee Real Estate
(Joe Manausa Real Estate)
We do a lot of training at my company compared to most small businesses. Often times, training is focused around our primary function ..... selling! I believe the greatest attribute of superior sales-people is top-notch listening skills. The following notes are the foundation upon which we base our Listening Skills Training.ONE KEY TO HIGH QUALITY CUSTOMER SERVICE IS ACTUALLY LISTENING TO THE CUSTOMER Customers have a variety of channels through which they can conduct business, including e-mail Web sites and call centers, in addition to traditional face-to-face contact.  Keeping customers happy no matter how they choose to interact with your company all boils down to good old-fashioned listening skills. Listening skills are rated as the number one communication skill needed at all level...
Comments 53
By Joe Manausa, Tallahassee Real Estate
(Joe Manausa Real Estate)
Are you one of the many investors who fail to take advantage of all the tax deductions associated with your rental property?Every year millions of real estate investors pay more taxes on their rental income than they have to. Often, these overlooked benefits make the difference between losing money and earning a profit on your rental property.Rental real estate provides more tax benefits than almost any other investment. But tax benefits are worthless if you do not take advantage of them.Let's take a look at a list of deductions that you can start using now to save you and even make you money. Interest. This not only includes the mortgage interest you pay on your investment property but also includes interest on loans secured to improve the property and interest on credit cards used for...
Comments 55
By Joe Manausa, Tallahassee Real Estate
(Joe Manausa Real Estate)
Business BrokerageAs a full-service real estate brokerage, we are often approached by people in the community who are actively seeking a business to buy. The first thing that we do is counsel these people about the effort it takes to run a business. Not all people are wired right to own and operate a business. The skills and personality traits that are required to make a business successful are not necessarily the same as those needed for somebody to be an excellent employee for someone else. A business requires a person who has a vision and drive, and is completely devoted to the idea and goal of making the business thrive.Once we have determined that the buyer is serious and has the means and capabilities to make a business succeed, the next step is to determine the best industry for ...
Comments 53
By Joe Manausa, Tallahassee Real Estate
(Joe Manausa Real Estate)
"Residents decide to renew their lease the day they move into their rental property."In keeping with today's society, renters are much more educated in their buying decisions than their counterparts a few years ago. Along with this buyer's awareness is the requirement for quality service. While a property's image and location are keys to attracting tenants, the quality service and responsiveness of its management are essential when it comes to retaining residents.  As such, renewals are the most rewarding type of leasing activity for property managers because they reflect tenant satisfaction.  If you would survey your residents and prospective residents, you would find that good, quality service is what they rate as their top priority. Tenants want to know they live in a community that ...
Comments 53
By Joe Manausa, Tallahassee Real Estate
(Joe Manausa Real Estate)
When I buy a cup of coffee on my way to work each morning I have a certain level of expectation for the service I'm going to receive and the quality of the product I'm about to purchase.  I'd say that's true just about any time I intend to spend my money whether it be on a cup of coffee, a computer, a car, or more so...a home.So the question is...What is being done to ensure that I receive the absolute best possible customer experience today so tomorrow morning I stop at the same place for coffee?  The concept is referred to a Customer Relationship Management or "CRM."  Simply defined it incorporates systems, procedures, and people to ensure that your specific customer needs are met to your full expectations within your timeframe.  While not a new concept it has become paramount over th...
Comments 55
By Joe Manausa, Tallahassee Real Estate
(Joe Manausa Real Estate)
There are over 3200 residential listings in the Leon County, FL market. This number is quite a bit higher than we are used to, and more than double the number we have seen during the past few years Seller-Market run.A survey among Realtors who currently have residential listings in the Tallahassee Market was conducted by Don Pickett, Chairman of the Market Trends and Research Committee of the Tallahassee Board of Realtors. I believe this survey has found a strong factor in the increased number of listings on the market. The survey is below:SELLERS MOTIVATION FOR SELLINGSURVEYJULY 2007This survey's questions were authored by Penny Franklin (Premiere Bank) and sent out to about 500 individuals that receive the Market Trends & Research emails.  There were 103 agents that responded with the...
Comments 50
By Joe Manausa, Tallahassee Real Estate
(Joe Manausa Real Estate)
With inventories at very high levels, the banks and the builders are taking notice. New permit applications in Leon County have dropped to levels not seen in over 15 years. New Home Sales are lower than they have been since 2002.  By keeping an eye on new permits and sales, we get a glimpse of how new construction is affecting inventory in the Leon County Market. The next chart shows that sales are leading permits, thus reducing inventory. The "Average Ratio Line" represents the average ratio between sales and permits of new construction during the entire time measured (January 1997 to present). By looking at these two charts, I believe we will start to see more permits, on average, than we did during the past year. Unfortunately, with the abundance of resale properties on the market, I...
Comments 50
By Joe Manausa, Tallahassee Real Estate
(Joe Manausa Real Estate)
Here is some information regarding the Tallahassee (and surrounding counties) Market. Overall, this part of Florida is doing much better than the rest of the state, except for the beach market in Franklin County.Again, we need to thank Don Pickett, Chairman of the Market Trends Research Committee of the Tallahassee Board of Realtors for this data.APPRECIATION 2007 HALF YEARRESALE DETACHED HOME AREA 2006 UNITS 2007 UNITS CHANGE 2006 AVERAGE 2006 AVERAGE 2007 AVERAGE APPRECIATION LEON 1382 1105 -20% 241,216 244,339 1% NE AREA 721 591 -18% 295,412 296,833 0% NW AREA 356 290 -19% 177,749 185,819 5% SE AREA 191 151 -21% 219,97 203,293 -7% SW AREA 114 73 -36% 133,710 136,731 2% WAKULLA 111 91 -18% 234,637 219,25 -7% GADSDEN 94 68 -28% 152,667 166,373 9% JEFFERSON 40 28 -30% 192,606 285,792 48...
Comments 53
By Joe Manausa, Tallahassee Real Estate
(Joe Manausa Real Estate)
It is no surprise to the Real Estate Community that the Internet has changed the way that the industry conducts business. The major impact that the Internet has had on the Real Estate Industry is the easy-access to information.  The internet gives access to potential home buyers of information that previously only gained through personally viewing a property. It is entirely possible for an internet house shopper to get a real "feel" for the looks and size of a property by viewing photos and virtual tours of the property on-line.  At Century 21 First Realty, we've actually sold homes to out-of-state Buyers who contracted to buy homes before they ever set foot in them. Ten years ago, the Internet was a novelty item to the real estate industry. Now, the internet is the primary media vehicl...
Comments 52
By Joe Manausa, Tallahassee Real Estate
(Joe Manausa Real Estate)
Please see my Real Estate Blog at https://www.manausa.com/blog/This is my first attempt at "blogging" and I appreciate any feedback and comments that you can provide. The blog will focus mostly on the Tallahassee Real Estate market and real estate brokerage concerns in general. Additionally, I will periodically post market statistics for the Tallahassee Real Estate Market (and surrounding counties). Thank you in advance for your comments and feedback. Joe
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By Kenneth Fach
(Amerisave Mortgage Co)
How often we are with buyers in a home, and they ask the question, "What did the owner pay for this home?" or "When was that last home we saw sold and for how much again?" Now, with a service by housefront.com you have that information in your palm, PDA, TREO, etc. I just send a text message to 46873, input the property address, and in seconds, I get a text message back with the answers to the buyer's questions above, even approximate square footage, and estimated value. You can savev the messages so that you can refer to them as you are moving about with the buyers. I love the tool. It is free too. Kenneth Fach, REALTOR, ePROWeichert, REALTORS-Anchor1607 Village Square Boulevard, Suite B 103, Tallahassee, FL  32309Text/cell 850-339-5753  Each office is independently owned and operated.
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By Kenneth Fach
(Amerisave Mortgage Co)
I am a REALTOR in Tallahassee, Florida, with a great company. Would love to do referral business with agents around the country. For you new agents (I started in 2004), I have a list of tools that i constantly use and you should take advantage of them: 1. Housefront.com  Here you can look up property data, including estimated price range, year build, approximate square footage, and get that information in a text message on your cell. You go by a property, text 46873, input address, and bingo, in seconds you get useful data. I use it all the time with buyers, and as a WOW tool for sellers. The information comes from the public property records, and (perhaps MLS, I am not sure about that). The information is updated regularly. Wow, another use for my TREO 700.2. Jott.com, you call 877-568...
Comments 18
By Gene and Rebekah Rivers, The Rivers Team, Broker/Owner
(Keller Williams Town & Country Realty)
Hey folks,Just wanted to take a moment and let you know what I think about Home Warranties.I think they are very important.  I have one on all the properties that I own.My Home Warranties cost me about $400.00 per year, and the service call is about $50.00 depending on which property and what extras are covered.Usually, every year I have an issue or two on each property.  So my out of pocket expense for the year is normally about $500.00 or so.I just got off the phone with the HVAC Repair Guy who is going out to check out why the HVAC won't cool the house.  The value of picking up the phone and making a call to get a Service Professional out in a couple of hours is priceless.  If I did not have this protection in place, I would have spent over $500.00 on just this one call.Last month, o...
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By David Alexander
(Alexander Real Estate)
SouthWood is a charming southern home community located in Tallahassee, Florida.  Residents and guest are welcomed with wide open porches, lush green parks and a large lake.  The St. Joe Company has commited over a 1,000 acres of SouthWood as a protected area for wildlife and wetlands.The Community boast exclusive amenities which include:1. SouthWood Community Center featuring a private club for residents and guest, tennis courts, a playground, swimming pools and much more.2. SouthWood Town Center featuring restaurants, shops and a YMCA.3. SouthWood Golf Club which is a semi-private course designed by Fred Couples.4. SouthWood Central Park and Lake with walking paths and bike trails.5. Guest Cottages open to the public.6. The SouthWood House, orginally built in 1865, and is now newly re...
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By Gene and Rebekah Rivers, The Rivers Team, Broker/Owner
(Keller Williams Town & Country Realty)
Spring has sprung and it is a very good time to buy a home!  Interest rates are low, there is a load of available inventory--new and resale, and home prices have stablized compared to the last few years. There are lots of opportunities for buyers today.  Contact me and let's talk about it!  Ellie Stafford     850.545.0814ellie@ringtherivers.com
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By Gene and Rebekah Rivers, The Rivers Team, Broker/Owner
(Keller Williams Town & Country Realty)
I just took a look at a few Residential Real Estate Listings in the Northeast of Tallahassee.  The mid-town Subdivisions I was in were Pilckem Ridge and Townships One. Both of these Subdivisions are located off of Centerville Road just East of Blairstone Road in the Northeast of Tallahassee, and feed into the following Tallahassee-Leon County Schools (Kate Sullivan Elem, Cobb Mid, and Leon High).Pilckem Ridge is a wonderful upscale neighborhood with home priced in the Million Dollar plus range.  The following link (Click Here to View Listings) is to the 3 Listings I previewed.  The 3 homes are built by two of Tallahassee's most elite Builders, Tom Ertl and Jeff West.  The second Subdivision practically around the corner just off the beautiful Canopy Road is Township One North or T-1 as ...
Comments 0
By Kenneth Fach
(Amerisave Mortgage Co)
I think a lot of real estate practitioners do not know what ranch style homes are or they forgot. I go to the MLS to see homes, and I find that such and such a home is listed as a ranch style home when I know it is not, because either i have seen the home, or I know that in a particular neighborhood, the homes are not ranch. Also, the picture of the home in the MLS often will show that it is not a ranch home. I think this is a serious problem. After World War 2, most of the homes that were build in many communities, were ranch style homes. For years, and probably today, most resales are ranch style homes. Ranch is coming back for a number of reasons: easier to maintain the structure, often in convenience intown location, solid structure, and affordable. I want to review what a ranch sty...
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