Tallahassee Real Estate Blog

The number of foreclosed home will climb 20%, reaching a peak for the housing crisis according to Realty Trac.  The peak in foreclosures will potentially correspond to a bottoming in prices.  Unemployement and the "shadow inventory" or foreclosures are the big wild card for 2011 and will dictate how much further the market will fall. 

For local Tallahassee real estate, foreclosures and short sales made up about 27% of all home sales in December.  Currently, short sales and foreclosures comprise about 30% of all active residential properties listed for sale in Tallahassee. 

What will the future bring?  Rick Sharga of Realty Trac predicts that as amny as 6 million foreclosures may come on the market in 2013.  What makes this such a sobering prediction is the fact the 5 million homeowners are seriously delinquent on their mortgages right now.

We'll keep you up to date in our Tallahassee real estate blog.  In Tallahassee, we see about 4 new foreclosures enter the market each day.  Some of these are great deals right off the bat.  Some need to let their price fall a little more before they are great deals.  We'll tell you what the best deal are! 

To see the new foreclosed homes just coming on the market in Tallahassee, please click here.