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Tallahassee, FL Real Estate News

By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
Everybody has gone to calling this day the “4th of July,” but as a veteran I will always think of it as what it is. This is the day that we celebrate our Independence. Happy Independence Day Active Rain!…. [click to continue…]
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
I came across a survey of homeowners that I think is very enlightening for many reasons. This Zillow real estate survey (a real estate aggregator and internet portal) asks homeowners what they think of their home value and what its value will be in the future. They also ask what the homeowner thinks about their home in relation to others in the market. Perhaps the greatest thing about the Zillow real estate survey is that we can look at past and current surveys to see the trend of homeowner “consumer confidence” as it is measured using the home as the standard. Not surprisingly, homeowners are much more aware of the depreciation that has occurred in the past two years than they were just last year. But what do they think of their home value versus that of their neighbors?   [click to s...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
Have you ever seen something that is so extreme that you think to yourself that you are truly witnessing something remarkable? No, I don’t mean have you seen UFOs flying over the back of your home or Big Foot running through the neighborhood, rather I’m talking about certain market conditions that defy all historic norms and trends. Below is a real estate graph depicting the 365 day trend of daily home sales in Tallahassee going back to 1991. What this means is that each point on the graph represents one full year of sales (divided by 365 days) to generate a non-seasonal daily average. Daily Home Sales In Tallahassee Continue To Decline What this graph shows is that just since December, our daily sales rate has dropped 25%! Ouch. But what if we look at a longer-term view of this same in...
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By John Stehmeyer
(Pro Players Realty)
With this Fourth of July approaching, I thought it was only right to spread knowledge on how to honorably retire your flag. Many will be flying high this weekend and then put away, but many more fly all year round and weather the heat, rain, snow and here in Florida, the Hurricanes at times! Make sure when the time comes to replace Old Glory, that you lay her to rest properly! Have a great and safe holiday weekend! Article originally posted at Military.com We raised our flags September 11, 2001 and flew them proudly. Our flags stand tall as we leave our mark on foreign soil. Each year, Americans across the nation unfurl their flags on Independence Day, Memorial Day, and Flag Day. For some, the Stars and Stripes decorates their porches all year as a daily reminder of what it means to be ...
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By John Stehmeyer
(Riverking Custom Painting)
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
If you read the most recent Tallahassee Real Estate Newsletter, then you will know a little about the supply of homes that we know exists that are not currently on the market. This “shadow inventory” is the growing number of homes that were once on the market and failed to sell, or are the homes that we know are currently distressed properties but are yet to hit the market as short sales or foreclosures. One way that we can monitor the shadow inventory is to track home mortgage loan defaults and delinquencies, and thanks to Tallahassee Real Estate Blog Reader “Doug,” we have a site that will give us some of this surprising information.  [click to how shadow inventory is going to affect the Tallahassee Housing Market…]
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By John Stehmeyer
(Riverking Custom Painting)
How to Paint Rugs       Base-coat your rug material if desired with acrylic paint. After the base coat dries, use a straightedge to guide your stencil placement. Apply your design in a contrasting color with a stencil brush and stencil, cleaning the stencil before moving it to a new section. When the paint is dry, seal and protect the design with clear polyurethane (we love the spray variety).
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
The year is half-way over and we’ve been tracking the market activity on a near-daily basis over at The Market Bulletin. With the summer buying season well on the way, the market is starting to see activity from buyers who are taking advantage of the First Time Homebuyer Tax Credit. We know this because are seeing sales increase in the price ranges most often purchased by First Time Homebuyers. Unfortunately, the rest of the market is not seeing a whole lot of vitality. Homes that are aggressively positioned in the market are doing quite well (we have one home that had 6 offers on it last week and we negotiated a contract at a price higher than what the seller was asking), but for the most part, the rest are stagnant. Today is real estate graph day … with 7 updated graphs of the Tallaha...
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By John Stehmeyer
(Riverking Custom Painting)
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By John Stehmeyer
(Riverking Custom Painting)
How to Paint Fabric       Tape preshrunk fabric to plastic-treated cardboard or a plastic cutting board. Use fabrics paint or an acrylic paint with textile medium added (both available at crafts stores). Apply the paint in several thin coats to work it into the fibers. Heat set if required. Your piece can be laundered with mild detergent after 10-14 days.
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
I recently came across a question by a reader who was wondering “who pays the closing costs in a real estate transaction.” This question, or a form of it, is answered by real estate professionals on each and every transaction that occurs. First of all, closing costs are the fees, costs, and taxes (over and above the price of the property) that occur when real estate is transferred from one party to another. The conveyance of real estate is initiated and directly by a contract for sale and purchase, and closing costs should be specifically identified in this document. So how do you know who pays what? [click to continue…]
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Tuesday at the TBR is fun and informative meeting each week where some of the top Realtors in the market get together to promote their listings and their client needs.  The meetings are sponsored by various entities, some from affiliated businesses like banks, law firms or title companies.  Each week we also have a moderator, and on 6.8.09 the moderator was Lucretia Thomas of Thomas Acquisition and Property Specialists, Inc.  I lived in southwest Missouri for over 20 years and up that way, they would say Lucretia is a hoot!  She is very animated, humorous and does not suffer fools lightly.  When she is in charge of the meeting, she runs a tight ship.  Lucretia is also one of our most dedicated Realtors in helping to make things happen.  Recently, at a bowling fund raiser, Lucretia was i...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
  Anybody who has been following the Tallahassee Real Estate Blog for any amount of time knows that I have a habit of getting a bit too analytical at times. Well, that habit does not just apply to the Tallahassee real estate market, it also applies to this real estate blog. I have tracked the number of readers coming to the Tallahassee Real Estate Blog pretty much since the very first post. Perhaps the earliest surprise that I found was that many of our visitors were from outside of the Tallahassee real estate market. 153 Countries Read The Tallahassee Real Estate Blog Thus far, we have had over 150,000 visitors to our real estate blog, and over 10,000 were from countries other than the United States. The graphic on the right shows the beginning of the list and you can see that we are v...
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By John Stehmeyer
(Riverking Custom Painting)
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
All too often, we see homebuyers who are “looking for the deal” get involved trying to buy a short sale in Tallahassee. A short sale is when the home owner and the lender(s) for the home owner agree to sell the home for less than what is owed on the home. But as this reader found out, it’s not as easy as just making an offer and proceeding to closing. This frustrated short sale buyer writes: My wife and I are trying to buy a short sale. We made the highest offer (full price), we were the 1st offer in and have an escalation addendum to bring it up another 12k. The realtor convinced the selling family to choose another offer, for a lesser amount! We are going fha and they are conventional so they went with them (I bet it is a friend to friend deal). I NEED HELP…Does anybody have a number ...
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By John Stehmeyer
(Riverking Custom Painting)
How to Paint Trim       Apply caulk to fill gaps between the trim and wall. Use a nail set and hammer to push nailheads below the wood's surface. Slightly overfill nail holes and dents with wood filler. Sand smooth when dry. Prime the trim. Paint vertical pieces with vertical strokes and horizontal pieces with horizontal strokes. Work on each piece from the bottom up.
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
After reading The State of the Nation’s Housing 2009 from the Joint Center for Housing Studies of Harvard University, it became clear to me that much of the rest of the country is already seeing some signs of a housing market turn. More importantly, it made me fully aware of the fact that many learned people are seeing reasons why it should and will be occurring. But how do you predict the turn of the housing market in Tallahassee? There are so many factors involved that you cannot simply point to any one factor, so I thought I’d summarize why I think I know when the turn will begin. First of all, the problems that we are seeing in the housing market are bundled with all the other financial problems that are happening at the same time. The financial markets are in a mess, the economy i...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
  Every year, the Joint Center for Housing Studies of Harvard University puts together a report on the State of the Nation’s Housing. This year’s report was published a few days ago and I thought I would share some of the key findings of the report. The executive summary states, very clearly, that the national housing report seems to parallel what we have been seeing here in the Tallahassee real estate market. It’s focus on the challenges of restoring demand for housing begins from the start of the housing report: In the worst housing construction cycle since the 1940s), depressed demand is making it difficult for the market to work off excess vacant units. Restoring demand to more normal levels will take time since so many owners are in financial distress or trapped in homes worth less...
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By John Stehmeyer
(Riverking Custom Painting)
How to Paint Ceramic       Sand the surface lightly to ensure paint adhesion. Clean the surface with trisodium phosphate (TSP) cleaner to remove grease and dirt. When dry, apply a bonding or ceramic primer. Let the primer dry. Brush on latex paint in a gloss or semigloss finish. You also can use a paint formulated for ceramic or porcelain surfaces. Allow the paint to dry for several days and take care not to scratch the paint while it's curing.
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Here is the real estate data through the end of May for the market...     Sales continue to lag previous years and you can see how we are down.  Sales are occurring, but still substantially below historical rates. Re-sales, which are non-new construction housing, are continuing the 4 year decline in volume.  Pricing does seem to be stabilizing but, the market is still fragile and price sensitive. There are reports of bottlenecks forming in the local mortgage market as underwriting loans becomes more and more difficult.  Loans are receiving a stringent review causing closing times to increase.  Historically, closings take approximately 30 days, but Federal disclosure changes which are to begin the end of July are creating extended closing times approaching 45 days.  The new requirements ...
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