Tough Times For Home Sellers Creates Opportunity For Home Buyers

By
Real Estate Agent with Joe Manausa Real Estate 8508880888
http://actvra.in/Pjc

The turn in the real estate market has not yet arrived for Weems Plantation in Tallahassee.

While there are some traces of market improvement to be seen (like the decrease in distressed home sales as seen in the graph on the right), there is still much evidence of a tough 2013 ahead.



Sluggish Weems Plantation Home Sales

2012 did not bring about the increase in home sales for Weems Plantation that many other Tallahassee neighborhoods enjoyed.

Weems Plantation House Report

The real estate graph above shows that at merely 16 closed home sales in 2012, Weems Plantation has not rebounded like some of the other popular neighborhoods in Northeast Tallahassee.

House For Sale In Weems PlantationThe blue bars in the graph show the number of closed home sales each year, while the red line measures the one-year trend of the average home value (measured in price per square foot).

Home values have regressed back to levels last seen in 2002, and there is no evidence of a turn coming from the home sales recently recorded.

This means that people who want to sell a home in Weems Plantation must understand the breadth of the competition.

This also means that people who want to buy a home in Weems Plantation are going to be getting a heck of a deal.

Currently, there are 8 homes for sale in Weems Plantation.

Imagine owning a home today, financed at today's low interest rates, at a price you would have paid 11 years ago!


Past Home Sales In Weems Plantation

 

 

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Rainmaker
589,712
Than Maynard
Coldwell Banker Heart of Oklahoma - Purcell, OK
Broker - Licensed to List & Sell - 405-990-8862

Good information for buyers and sellers. Our market seems to be improving when you look at the stats, but the things that are selling the best are REOs.

Jan 14, 2013 06:23 AM #1
Rainmaker
805,997
Joe Manausa
Joe Manausa Real Estate - Tallahassee, FL
Tallahassee Real Estate

Thanks Than, same here too. The distressed properties top the list.

Jan 14, 2013 06:44 AM #2
Rainer
157,688
Anthony Daniels
Coldwell Banker - San Francisco, CA
SF Bay Area REO Specialist

Good things come, to those who wait.

I'm certain that 2013 will be your year.

Good post.

Jan 14, 2013 07:21 AM #3
Rainmaker
62,250
Catherine C Capasso
Catherine Cornelia Real Estate - Eastchester, NY
Cottage or Castle, What's Your Dream!
At least you're seeing some market improvement. Hopefully it will continue through 2013. It's definitely going to be a very slow recovery. Best of luck for a successful year.
Jan 14, 2013 10:42 AM #4
Rainmaker
1,334,295
Carla Muss-Jacobs, Principal Broker/Owner
BuyersAgentPortland.com | (503) 810-7192 Portland Metro Exclusive Buyers Agent | 100% Buyer Representation ~ 100% o... - Portland, OR
Buyer Focused ~ Buyer Results

For this local market, you certainly reported about the reality.  Yes, sellers may have to understand the breadth of the competition, and buyers may be able to get a nice deal.  Good article.

Jan 14, 2013 12:29 PM #5
Rainmaker
1,371,001
Richie Alan Naggar Author PEARLS SERIES of books
People first then business! Ran Right Realty Riverside, Ca - Riverside, CA
on LIFE and LOVE plus Real Estate too!

Good activity expected this year....great activity next year....Tally Ho and off we go....good post

Jan 14, 2013 02:28 PM #6
Rainmaker
65,510
Steven Schafer
Berkshire Hathaway Home Services - Egg Harbor Township, NJ
CDPE, SFR, ABR, SRES

I was just at a training class where the speaker talked about merchandising the house rather than just advertising the house, but he was specifically talking about seller contributions to attract more buyers. This neighborhood seems like it could use a little of that magic. 

Jan 14, 2013 08:07 PM #7
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Rainmaker
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Joe Manausa

Tallahassee Real Estate
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