Tallahassee Real Estate Blog

The Wall Street Journal's recent real estate blog picks 3 big factors that will likely fortell if your real estate market has bottomed.  Tallahassee doesn't do too bad in these factors, but it's plagued by one big drag: it's part of Florida where the market surged so rapidly a few years ago that it created the huge boom and bust we all feel.  In contract places like upstate New York barely saw an upswing in prices, and now see very little depreciation. 

THE BIG 3 FACTORS:

Jobs, jobs jobs: Real estate growth has always been links to job and wage growth.  The downsizing of state government and universities will have a negative impact.

Foreclosures:  Not as bad as Vegas, but Tallahassee still has a fair share of distress sales, particularly in newer condos and townhomes built in the last 5 years. 

Rents: If monthly purchase payments are only a little above monthly rents, people seeking housing will be more likely to buy.  Increasing rents will create more buyers.