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Tallahassee, FL Real Estate News

By Carol Palacios
(Century 21 Manausa & Associates)
Joe Manausa | Century 21 First Realty | 850.523.6118 XXX Woodstone Rd, Tallahassee, FL 5.58 acres Vacant Land offered at $111,600 Lot Size 5.58 acres DESCRIPTION Beautiful homesite with mature hardwoods and Magnolias. Only 10 minutes from downtown. Have your own piece of paradise! Show anytime. Please close gate behind you. see additional photos below ADDITIONAL PHOTOS Photo 1Photo 2Photo 3Photo 4Photo 5Photo 6 Contact info: Joe Manausa Century 21 First Realty 850.523.6118 For sale by agent/broker Equal Opportunity Housing Posted: Feb 25, 2010, 10:44am PST
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
The number of homes labeled as “Distressed Property” continues to grow in the Tallahassee real estate market. A quick search of the Tallahassee MLS for homes that are short sales, foreclosures, bank owned or relocation shows that 22% of the active listings for condos, townhouses, and single family homes are in this category! If you want to see some “immediate” distressed properties, check out our “Short Sales” page at http://www.manausa.com/foreclosures/tallahassee-short-sales. This is a rapidly growing list and often times contains better buys than homes that have already been foreclosed upon. These homes are marketed through superior search engine optimization and thus are sold very fast! Don’t forget that we publish a newsletter every three weeks (http://manausa.com/newsletter/) so i...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
  “We are going to have to wait until next year to sell our house,” is perhaps the concern that I am hearing most from upside-down homeowners, or those who have lost much of the equity in their homes. Perhaps they hope to rent the house out to a tenant for the next year or so, and then put the home on the market when it will sell for the values found back in 2006. Just as a reminder, you can have the Tallahassee Real Estate Blog delivered to your email inbox by doing a quick subscription (just click the subscribe button here or at the top right of every screen. As I sit here and write the “500th post” for the Tallahassee Real Estate Blog, I am hoping that I can convey an awareness to those people who have homes for sale in Tallahassee (or for those who want to sell a home). These people...
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It was widely reported that last Thursday, the Federal Reserve raised the Discount Rate (the interest rate charged to member banks when they borrow from the Fed) from 0.50% to 0.75%.  All members of the Federal Reserve banking system (12) supported the decision. In its decision, the Fed cited "continued improvement in financial market conditions," but warned Wall Street that the increase was "not expected to lead to tighter financial conditions for households and businesses and do not signal any change in the outlook for the economy or for monetary policy." Do you believe them? As anyone who lived during the 1970's gas shortages and stratospheric interest rates will tell you...be careful.  Personally, 18% was the worst loan utilized during this period, but others paid 20-21%.  There are...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
Do you really need A REALTOR®? If you have a home to sell, it sure seems like a good idea to figure out how to save as much money as possible since home values are not where they once were. If you could sell your home without a REALTOR®, wouldn’t you be adding a whole bunch of money to your bottom line (or reducing the amount of money you might need to bring to closing? In order to find an answer to this oft asked question, I would suggest you start by examining the current state and cycle of your local housing market. In Tallahassee, the bottom of the housing market appears to be behind us, and thus we must slog through the toughest part of the market. This is the point in the housing market cycle where home values continue to decrease, which brings an increase in buyer activity. This ...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
I was recently looking into home values in Unit 2 of Killearn Lakes Plantation and figured that my results would make for an interesting blog post at the Tallahassee Real Estate Blog. Killearn Lakes is the most active subdivision in Northeast Tallahassee, so I knew that whatever I found would be an important representation of current activity in the Tallahassee housing market. Unit Sales And Average Home Prices Dropping In Killearn Lakes Unit 2 Much like we have seen in the rest of the Tallahassee housing market, both unit sales and home prices have fallen in Killearn Lakes Unit 2. Lately, we have seen some stability in the number of homes selling each month, but values are averaging in the $160K – $170K price range, after once approaching $200K in 2006. Killearn Lakes Unit 2 Home Value...
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By Carol Palacios
(Century 21 Manausa & Associates)
Joe Manausa | Century 21 First Realty | 850.523.6118 1418 Avondale, Tallahassee, FL 4BR/2BA Single Family House offered at $215,000 Year Built 1996 Sq Footage 1,821 Bedrooms 4 Bathrooms 2 full, 0 partial Floors Unspecified Parking 2 Car garage Lot Size Unspecified HOA/Maint $0 per month DESCRIPTION Short Sale! All offers contingent on lien holder approval. Custom built home with over 1700 sq ft of unfinished basement that can be completed for added square footage. Located on oversized lot in very convenient location. Home needs minor cosmetic work and some updating if desired. Please provide 24 hour notice for showings. see additional photos below PROPERTY FEATURES - Central A/C - Central heat - Fireplace - High/Vaulted ceiling - Hardwood floor - Living room - Dining room - Dishwasher ...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
  Southwood is one of the most active neighborhoods in Tallahassee, thus we are often asked to provide updates on Southwood home sales and values. For those readers who have followed the Tallahassee Real Estate Blog for any period of time, this report will not be surprising. Home values continue to fall in Southwood, though unit sales have started to increase again. When we look at arms-length existing home sales in Southwood, we see 24% depreciation since the top of the market, and the current rate of home sales in Southwood is 44% lower than at the peak of the market. Home Prices In Southwood The average home price in Southwood, based upon the current one-year trend, has fallen to $271,000. At the peak of the market (for Southwood) in July of 2008, the average price had reached nearly...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
The Secure and Fair Enforcement Mortgage Licensing Act is about to have a huge negative impact on the value of your home, and I bet you have never even heard of it! That’s right, the U.S. Department of Housing and Urban Development has put together a proposed rule, that if adopted, is going to cause significant damage to an already crippled housing market, but there is time for you to change it! The new rule has been proposed in the enforcement of the Secure and Fair Enforcement Mortgage Licensing Act. The SAFE Act is actually a good thing, and was passed in July of 2008 requiring lenders to get licensed and be accountable (gross over-simplification, download SAFE Act here for details). So how does a good law go bad …? The proposed new rule helps identify parties who are affected by th...
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By Carol Palacios
(Century 21 Manausa & Associates)
Joe Manausa | Century 21 First Realty | 850.523.6118 5580 Apalachee Parkway, Tallahassee, FL 2.00 acres Vacant Land offered at $12,000 Lot Size 2.00 acres DESCRIPTION Prime location land just waiting for a new owner, property is located less then 5 miles from Walmart, Sam's Club, Governor's Square Mall, Five Star Restaurants and more. Don't miss this opportunity to own a property with so much potential! see additional photos below ADDITIONAL PHOTOS Photo 1Photo 2Photo 3Photo 4 Contact info: Joe Manausa Century 21 First Realty 850.523.6118 For sale by agent/broker Equal Opportunity Housing Posted: Feb 17, 2010, 12:19pm PST
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
We are finally starting to see Tallahassee foreclosures moving from limbo status to full-blown foreclosure sales. The banks seem to be moving from a policy of “wait and see,” towards getting these through the system now. In case you were not aware of our Tallahassee Foreclosures site, you should know that it is updated several times per month with a full listing of every lis pendens filing in Leon County. The most current reports that you can see include: Lis Pendens Report For January 2010 Lis Pendens Report For The Week+ Ending January 31, 2010 Lis Pendens Report For The Week Ending January 21, 2010 The sidebar of the Tallahassee Foreclosures site allows visitors to examine reports on lis pendens and foreclosures going all the way back to January of 2008, including trend graphs and an...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
Every month, we see new housing reports that are issued first by the National Association of REALTORS®, then by the Florida Association of REALTORS®, and finally by any local REALTORS® who actually pay attention to market reporting. The one thing all of these seem to have in common is a consistent “spin.” Somebody at the National Association of REALTORS® determines the best light in which to report the data, then we see a parroting affect all the way down the food chain until somebody locally can announce “now is the time to buy!” Three years ago, I was one of those local REALTORS®, echoing the housing reports from on high. I figured the information would be received by a thankful reading audience, but I was wrong. I was very wrong. Most of the readers of my early blogs were quick to po...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
One of the best ways to keep tabs on the changes in the Tallahassee Real Estate market is to monitor the activities of the area’s active agents. Fortunately, a brand new gathering place for active real estate agents has emerged. You can find a full range of information relating to Tallahassee real estate in the daily articles written by the most active real estate agents in Tallahassee. Whether your interests are in new homes for sale in Tallahassee, real estate advice, or just general market information, you should definitely check them out. As an example of some great advice being served by these real estate agents, Eva Armstrong wrote an article recently about two clauses in the Contract for Sale and Purchase in Tallahassee. One clause had the homeowner (Seller) delivering the proper...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
  One of the great things about having a real estate blog is that we get to see much of what our customers are thinking and doing in their efforts to buy a home or sell a home. Just the other day, I saw the following question that was entered into a search engine which pointed the searcher to our site: How do you make an offer on a home that is overpriced? While this seems like a simple question that should have a very simple answer, it made me realize that this home buyer, like many soon-to-be home buyers, does not understand the different types of home sellers that exist in today’s real estate market. Understanding Home Sellers With nearly 80% of the homes on the market failing to sell, it is important for a prospective home buyer to understand that there are home sellers out there wi...
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By Carol Palacios
(Century 21 Manausa & Associates)
Joe Manausa | Century 21 First Realty | 850.523.6118 138 Brandy Lane, Tallahassee, FL 3BR/2+1BA Single Family House offered at $397,000 Year Built 2008 Sq Footage 2,915 Bedrooms 3 Bathrooms 2 full, 1 partial Floors 1 Parking 3 Car garage Lot Size 87,120 sqft HOA/Maint $0 per month DESCRIPTION 1.5 yr. old custom brick home on 3 acres. Custom features include solid cherry cabinets, granite counters, ceramic tile back splashes, stainless GE Proflile & Bosch appliances in the kitchen. Custom moulding throughout. French doors from master & living rm open to expansive covered porch. 3 car garage, mud room off garage, 1000 + sq/ft framed & plumbed basement includes fireplace & workshop. Must call owner/occupant with 1 hour notice before showing. see additional photos below PROPERTY FEATURES -...
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By Carol Palacios
(Century 21 Manausa & Associates)
Joe Manausa | Century 21 First Realty | 850.523.6118 3287 Sugarberry Way, Tallahassee, FL 3BR/3BA Single Family House offered at $95,000 Year Built 2005 Sq Footage 1,338 Bedrooms 3 Bathrooms 3 full, 0 partial Floors 2 Parking None Lot Size Unspecified HOA/Maint $0 per month DESCRIPTION SHORT SALE APPROCVED AT THIS PRICE! All offers contingent on lien holder approval. Past buyer could not close due to financing. Nice townhouse in good condition convenient to universities and TCC. 3 Master Bedrooms each with its own bath! Easy to Show! see additional photos below PROPERTY FEATURES - Central A/C - Central heat - High/Vaulted ceiling - Tile floor - Living room - Dining room - Dishwasher - Refrigerator - Stove/Oven - Microwave ADDITIONAL PHOTOS Photo 1Photo 2Photo 3Photo 4Photo 5Photo 6 Con...
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By John Stehmeyer
(Riverking Custom Painting)
Mildew is probably the most common cause of paint discoloration on your Tallahassee home. Mildew is a form of fungi which is most commonly black, but some species are red or green. It is usually formed if conditions are prone to grow, on walls where air movement is restricted. Often mildew resembles dirt on the surface of a paint film. A simple test can be made by applying a drop or two of household bleach solution. Mildew will usually bleach out in one or two minutes. Stain that does not bleach is probably dirt. The best way to prevent mildew is to apply acrylic latex paint and make sure the surface is mildew free before painting. Regular cleaning with a pressure washer can also help contain mildew. There are also chemical treatments available to help prevent mildew growth. With some p...
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By Joe Manausa - Tallahassee, FL, Tallahassee Real Estate
(Joe Manausa Real Estate)
CENTURY 21 topped all real estate companies again as it was recognized as the top training company in the real estate brokerage industry. For home buyers and home sellers, it means that the agents and staff that they work with at CENTURY 21 are better prepared to assist them during these difficult times in the housing markets around the country. Century 21 Real Estate LLC, the franchisor of the world’s largest residential real estate sales organization, was ranked No. 84 this year, the highest ranking for a real estate brokerage company, and has been in the Training Top 125 in 7 of the last 9 years. CENTURY 21 was praised for its strong commitment to delivering world-class training tied directly to production results for sales professionals affiliated with its real estate franchise orga...
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 If you haven't heard about RESPA, the Real Estate Settlement Act, and if you are a buyer or seller of real estate, here is what I believe is most important for you to understand: YOU CAN NOT CONTROL THE EFFECTS OF RESPA!  What do I mean?  For most people the only thing they will learn about RESPA is that because of it, certain things happening will mean that the closing date will become a moving target.  Is this difficult?  Sometimes.  Will it kill transactions?  Not most.  Will it be aggravating to everyone involved?  Absolutely. There is no real reason for most people to even try to understand the different disclosures and their variables or which "bucket" is which.  What everyone involved in a transaction needs to understand is RESPA may rear it's ugly head and if it does, the closi...
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