Tallahassee Real Estate Blog

Underwater qualifying Tallahassee homeowners could see monthly savings of up to 35 percent on mortgage payments.

Who qualifies?

We're looking for your help -

Do you know anyone having trouble with their mortgage? 

We are holding a foreclosure avoidance and short sale seminar Wednesday May 16, 6-7pm at the Keller Williams Office, 1520 Killearn Center Blvd, Tallahassee.

Our goal is to help as many homeowners as possible stop foreclosure and regain their financial footing.  Please pass this info along to anyone you know who may nee it.  RSVP is welcome, not not required - 850.445.2476.

For more info visit:

www.ShortSaleLiberation.com

Know someone having trouble with mortgage payments?  They're not alone - more than 6 million mortgages nationwide are heading toward delinquency.  in Tallahassee, there are over 200 homes late on mortgage payments. 

Terance Keenan and Susan Byler are hosting a

Foreclosure Avoidance and Short Sale Seminar on May 16, from 6-7pm

at our Keller Williams Realty Office.  This is free, with no commitment or obligation.  We will provide informaton, and hold a question and answer period.

RSVP is requested, but not required - 850.445.2476. 

We can help homeowners with troubled mortgages held by any mortgage lender.  We'll provide specific info on the major mortgage holders --

Bank of America, Chase, Citi, Wells Fargo, Allied Bank, Ocwen, Aurora, SLS, HSBC, US Bank, USAA, Greentree, Nationstar, Flagstar, Florida Commerce, FSU Credit Union ... and many more.      

Tallahassee home sales continue to inch upward this year, lending more evidence that the market is near or at the bottom.  March 2012 home sales numbered 152, up from a year ago when sales only reached 145.

Tallahassee seems to be following the national trend.  "We very much believe we've hit bottom" said Ivy Zelman in a Wall Street Journal interview a few days ago.  An economic analyst, Zelman has been extremely accurate in her observations of the housing market through the bubble and the crash. 

Please call us to see what's sold in your neighborhood - 850.445.2476

Home prices hit record post-bubble lows early this year, reports the S&P Case Shiller Index.  The index of 20 major US cities recorded a 3.5% decline from a year ago.  Prices in the index are at the same level as 2002. 

Atlanta recorded the worst decline, falling over 17% from the year before.  Atlanta real estate experts say they were late to hit home price peaks, and are trailing in the housing recovery.

Like Atlanta, Tallahassee home prices also peaked in late 2007, well after many other cities began to fall in 2006.  As a result, Tallahassee may also be late to the price recovery.  Currently the median price o a single family home for the first quarter of 2012 is $177,500.  This puts Tallahassee home prices at about the same level as early 2004. 

Want to know more about home prices?  Call us 850.445.2476     

Foreclosures may be declining, but the problem is far from over, even in Tallahassee. The Center for Responsible Lending estimates that between 3 million and 5 million more foreclousres will occur over the next couple of years. Adjustable Rate Pay Option Mortgages written in 2007, which have a high rate of default, will be resetting this summer. Plus banks are clearing out their foreclosure backlog as fast as they can.

Some of the noticable consequences of foreclosures are family displacements, crime in vacant properties, dilapidated neighborhoods, ruined credit, and the huge loss of wealth (home equity) for many middle class Americans.

Other, less obvious consequences have emerged as well. About 8 million children could be affected, including kids of home owners and renters who were evicted due to a foreclosure. Julia Isaacs of the Brookings Institution calls these children the "invisible victims" of the foreclosure crisis, as foreclosures not only can cause emotional trauma, but also interfere with a child’s educational development. Researchers also have found a connection between rising foreclosures and an increase in medical visits for mental health, such as anxiety, or preventable conditions such as high blood pressure.

While nothing can make mortgage troubles easy, we can help you limit the stress on your family. A short sale may be the best option for you. Please call us at 850.445.2476 for a free phone consultation. We cover all homes in Tallahassee, no matter how large or small.

Visit our special resource area at www.ShortSaleLiberation.com

Source: MarketWatch and Realtor.org

It's coming - as more and more banks get their administrative house in order, they are speeding up the foreclosure process and clearing out backlogs of homes that have been sitting in limbo for months, even years. 

That means an increase in foreclosures this year.  Will it affect Tallahassee real estate prices?  With an improving economy and a slight increase in homes sales, these positive factors may cancel out the increase in foreclosed homes on the market, and we may see a continuing stable situation. 

If you are curious about the value of your home, please fill out the short form below to receive a free valuation.