Hello!  Thanks for visiting my first Blog post!  Due to the encouragement of professionals like Dick Betts, I am entering this network with high hopes. My area of expertise is the Tallahassee, Florida area.  The Tallahassee MSA (metropolitan Statistical area) is a wonderful place to live, work and shop.  My wife and I love it here in Tallahassee and you will too.  Many people's first exposure to Tallahassee is coming to a Florida State (FSU) or Florida A & M (FAMU) sporting event or to visit the state Capitol.  Often they find that our north Florida location offers exactly what they are seeking, very mild winters, but still a change of seasons; proximity to water and lots of sunshine! Coming here you will find me mostly blogging about different neighborhoods in our terrific city, the ou... 12/11/2008

  Too often, people fail to use all of the information at their disposal when making a home-selling decision. Talk to any real estate professional who has visited with a potential home seller in the past few weeks and they will tell you that we are still hearing people say “I’ll start it at this price and lower it if I do not get any offers.” In today’s real estate market, that thinking will lose them money. If you find yourself in the position of considering a home sale, I would encourage you to take in all the information that the market has to offer. I believe it is critical that you determine whether home prices are rising, stable, or falling before you consider your home pricing strategy. WHAT’S THE BEST ASKING PRICE FOR MY HOME? As we have discussed in previous blogs, less than 40... 12/10/2008

  Today’s blog is a brief update on Tallahassee housing inventories, but also a reminder that we have an excellent resource page for Tallahassee real estate information at http://www.manausa.com/market.php. This is your gateway to tons of charts, graphs, and analysis of the Tallahassee real estate market. We have some great analytics being developed on this site and if used as a resource, should provide for adequate and ample warning for future market shifts. The key is to routinely study the trends occurring in the real estate market and question every unusual or drastic movement. Home Inventory Levels Falling In Tallahassee The good news is that we are still seeing home inventory levels drop in Tallahassee. This next graph shows that our 30-day trend (average number of homes each day ... 12/10/2008

We have just posted the 18th Edition of the Real Estate Market Reports Blog Carnival. If you have not participated in the carnival, then you are missing out on a great way to drive traffic to your blog. Each week, the Real Estate Market Reports Blog Carnival gathers together localized information from real estate professionals all around the United States (and beyond). Our goal is to create a place with real information posted by real estate bloggers which is much more accurate than the consolidated MLS reports that NAR publishes. Again, a super benefit derived from the Real Estate Market Reports Blog Carnival is addtional traffic that the bloggers receive. By posting an excerpt and link to their blogs, they have seen thousands of additional people visit their own personal blog sites. H... 12/08/2008

Details Photo Gallery View Rooms 32309-Tallahassee (Killearn Acres) MLS #190799 FOR SALE$204,900 Century 21 First Realty Joe Manausa - Tallahassee Real EstateEmail Joe Manausa - Work: 850-386-2001Cell: 850-523-6178Fax: 850-383-6400 More Photos(10) TBRMLS190799 Quick Links Virtual Tour Request More Info Email Listing More Photos(10) Details Address: 6705 Tommy Lee Trail Type: Residential Style: Single Story Bedrooms: 3 Bathrooms: 2 Suite: No Living Area: 1,438 square feet Year Built: 1996 More Details Description Great curb appeal outside with beautiful landscaping and fenced backyard. Interior features hardwood floors, ceramic tile, split-plan with spacious master. Move-in condition. American Home Shield warranty may be transferred. More Description Brokered and Advertised by Century 2... 12/05/2008

Southwood is a planned community covering 1,000 acres that has it all ...  Convenient location close to shopping, downtown, and universities A variety of home styles and prices to fit many budgets Recreational facilities for both adults and children A recreational director and planned community events Parks and nature trails Top rated schools Golf club and community center Town Center with small shops and restaurants Professional buildings that house government agencies and other businesses. It's possible to live, work, play, go to school, shop, and eat out, all within the boundaries of Southwood. For more information, check out http://www.joe.com/web/TownsAndHomes/SouthWood/TownOverview.html Here are some pictures of various aspects of the lifestyle at Southwood: Southwood community ce... 12/03/2008

  Recently a reader left a comment (which I appreciate) indicating that he thought my data was incorrect for home sales in Southwood. In doing my research to validate the data, I figured I might as well turn it into a blog about current home sales in Southwood. The reader wrote: Joe, I really enjoy reading your Blog, but I work in 2 of the communities that are in the top ten of your list, and I know that your figures are wrong!. Where did you get the figures for this list?? The sold numbers are nowhere near where you say they are? This is where an understanding our source data is so important when reading real estate reports. Most real estate reports are based upon information from the local, regional, or national MLS, but unfortunately the MLS only represents 50-65% of what is actually... 12/03/2008

  In yesterday’s blog, I chose to revisit an old blog topic and wrote “Time to Revisit The 3000 Square Foot House.” This was a follow-up article to one that I wrote in July about what has happened to the 3000 square foot house. The article was inspired by a question that I had received from a relocation company that wanted some background information about the Tallahassee real estate market and felt that a good litmus test would be to see some history of home pricing for 3000 square foot homes. Tallahassee Home Inventory Holding Value Fortunately, this type of research provides some residual information that is very valuable. In doing the data gathering for this blog, I decided to take all the home sales in Leon County (Tallahassee real estate market) from the Tallahassee MLS and break ... 12/03/2008

  Back in July, I wrote a blog about what has happened to the 3000 square foot house. The article sprung from a question that we received when doing work in the relocation industry (corporate moves and affinity relationships). Since it has been several months since I wrote that article, I figured a follow-up would make a great basis for a real estate blog for Tallahassee housing. The last article showed what was happening, by price range, to homes that were sold in Tallahassee. While it showed that housing prices had declined slightly, it also provided a clearer picture of the market. I figured we could take a look at homes +/- 10% in size from 3,000 square feet and then graph the sales over the past six months (and beyond). Here is the graph of 3000 square foot homes in Tallahassee fro... 12/03/2008

We have just posted the 16th Edition of the Real Estate Market Reports Blog Carnival. If you have not participated in the carnival, then you are missing out on a great way to drive traffic to your blog.Each week, the Real Estate Market Reports Blog Carnival gathers together localized information from real estate professionals all around the United States (and beyond). Our goal is to create a place with real information posted by real estate bloggers which is much more accurate than the consolidated MLS reports that NAR publishes. Again, a super benefit derived from the Real Estate Market Reports Blog Carnival is addtional traffic that the bloggers receive. By posting an excerpt and link to their blogs, they have seen thousands of additional people visit their own personal blog sites. Ho... 11/27/2008

  The Federal Reserve announced a $500 billion commitment to purchase mortgage back securities (MBS) and a $100 billion commitment to purchase debt of Fannie Mae, Freddie Mac and the Federal Home Loan Banks. This infusion of capital into the mortgage market caused the average 30-year mortgage rate to drop to the lowest rates in years. I have seen estimates that the 30-year mortgage rate will be at 5.5% today and BestInfo, Inc., a Dover, Vermont-based mortgage data company, predicted today’s rate would be 4.875%. Current Mortgage Rates Have Huge Impact On Home Values To fully appreciate what this mortgage rate drop means to a typical Tallahassee family, let’s take a look at how the payment on a 30-year mortgage of $200,000 changes with different mortgage interest rates:   Description Rat... 11/26/2008

  Every so often I like to provide a market update for Golden Eagle Plantation in Tallahassee, Florida. In my previous Golden Eagle Housing Report, I reported that unit sales had dropped and that prices had dropped from their recent highs. In this report, unfortunately, the news will parallel that of the previous reports. while unit sales are about the same, prices have continued to drop. Golden Eagle Home Prices Continue To Fall The bad news is that Golden Eagle is subject to the same market conditions as the rest of the Tallahassee real estate market. The good news is that prices seem to be holding with the price points achieved at the beginning of 2006. The real estate graph below shows the average home size selling in Golden Eagle as well as the average price per square foot trend (... 11/26/2008

  Where are homes selling in Tallahassee? This is a question many of our homeowners are asking us as they consider putting their homes on the market. With buyer activity in the market slowing down to a 20+ year record low, many people feel as if their Tallahassee subdivision is the only one where homes are slow to sell. But that is not the case. Here is a simple report showing the number of homes sold by Tallahassee subdivision over the pat twelve months (November 1, 2007 through October 31, 2008). This is the complete list as reported to the Leon County Tax Assessor’s office, not just a Tallahassee MLS report. Click the link below for the report. Tallahassee Subdivision Home Sales Report         Subscribe in a reader Subscribe by email   I am HousingData on Delicious I have 6 bookmarks... 11/26/2008

  Century 21 First Realty held its weekly sales meeting yesterday at our office and we were visited by Karen Gillispie, a residential lending specialist, from Premier Bank in Tallahassee. The purpose of her visit was to update the staff on the various products and loan programs for first time hombuyers. It is interesting to note that in these times of financial hardship for everyone that there seems to be an abundance of financial assistance programs out there for eligible homebuyers purchasing new or existing homes in Florida. I will address a few today, but I recommend that you actually talk to a specialist like Karen if you want to get the best advice on loans for first time homebuyers. First Time Homebuyer Loan Programs There are quite a few opportunities in the Florida real estate ... 11/26/2008

  The entire economy continues to restrict and families are looking at every way to save money or reduce their daily expenses. One area that many Tallahassee homeowners are reviewing are their Leon County Property Tax Assessments. Some of the valuations in the tax records do not accurately reflect what is occurring in the Tallahassee real estate market and I think for some homeowners it makes sense to dispute the assessment that they received. Condo Owner Struggles With Leon County Property Tax Assessment I received the following message from a past client and thought I would look into Condo prices in Tallahassee. Joe, Finally got around to talking to the property appraisers office and sounds like they won’t budge on their assessed value. A couple things I think are off base: They say p... 11/26/2008

  If you are curious about what is happening and what is going to happen to home values in the Tallahassee real estate market, I suggest you start your study with a close look at the inventory of homes for sale in Tallahassee (and its surrounding counties). A study of home inventories (and more importantly the movement of inventory) will clue us in quickly as the the current and near future state of the real estate market in Tallahassee. Home Inventory Levels Dropping In Tallahassee If I’ve written it once, I’ve written it a hundred times. The start of the turn of the market begins with a long-term trend of home inventory reduction. That is why we measure home inventory levels in Tallahassee every day at Century 21 First Realty in Tallahassee. It is a critical that we see inventory leve... 11/26/2008

  What do you do when you are checking out a real estate company to work with? Do you pull out the local newspaper and check in the advertisements for homes for sale? Do you ask your friends and family members for a referral to the best real estate company in Tallahassee? Do you go online and google “Tallahassee real estate company?” I hope this brief little article will give you food for thought on the best methods for choosing a real estate professional to assist you in buying a home and selling a home. International Affiliation Will Enhance Exposure To Your Home All across America, little local real estate companies are losing ground to the internationally networked franchises. In today’s world, information is everywhere. So much so, that being everywhere without a well-positioned pl... 11/26/2008

Just a 3 minute quick post today from a proud father. My daughter won her school’s sixth grade “Tropicana Public Speaking Contest” yesterday with a speech comparing her role on a boys football team with that of President-Elect Obama being the first African-American President. Her point was that we should not let labels define who we are, rather we should aspire to our inner goals regardless of how others see us. Since 1969, Tropicana has sponsored the “Tropicana Public Speaking Contest” which has seen nearly 2 Million contestants compete in the program. The speaking contest is designed to give 4th, 5th, and 6th grade students experience in the preparation and delivery of a speech, and I can tell you it has been very good for Sami. Subscribe in a reader Subscribe by email   I am Housing... 11/25/2008

  Now that the real estate market has departed from the traditionally hot summer season, I am anxiously observing the 4 Tallahassee MLS trends that should give us an indication of market strength. No matter what the media is saying about the real estate market, all we need to do is observe inventory movement to know where we are ultimately heading at any given time. I think it would be prudent for anyone interested in the Tallahassee real estate market to follow these four trends very closely from now until we declare the market bottom, as I am quite certain they will reveal it even as it happens. Thus far, all that these trends have revealed is that the bottom has not been reached.   4 Critical Real Estate Trends The four key trends that can be measured from the Tallahassee Board of Re... 11/19/2008

  I am working on completing the Tallahassee Real Estate Market Report for the Month of October, 2008. If you are reading this right after post time, some of the links on the pages you end up on might not be active yet. If so, just give them an hour or so. The previous Tallahassee Real Estate Market Reports have had 12 color graphs showing everything from lot sales to condo sales to mobile home sales. This month, I have upgraded the real estate report to have 4 additional color graphs and analysis of the Tallahassee Housing Market, including a snapshot of the Wakulla County real estate market, the Gadsden County real estate market, and the Jefferson County real estate market. Tallahassee Real Estate Market Report Features 18 Color Graphs I’m a big believer that a picture tells a thousan... 11/18/2008