Enjoy a Good Laugh

Portion of an Ellen DeGeneres show a while back. Well worth a few laughs to help your day. http://www.boreme.com/boreme/funny-2007/ellen-gladys-hardy-p1.php?emf=1

Home Sale Statistics for Tallahassee's First Quarter

Real estate is local. Here's the numbers for Tallahassee (all of Leon County) home sales for 2008 and 2009 thus far.

Jan. 08 - 148 Jan. 09 - 92
Feb. 08 - 179 Feb. 09 - 100
March 08 - 230 March 09 - 139

Obviously home sales are down for the 2009 year as compared to last year. Still the number of homes sales for the year hasn't reached the peak months yet. With the $8000 tax credit incentive, perhaps the first time homebuyers will push Tallahassee back up to increased sales.

Real Estate Sales by Month in Tallahassee

I did statistics for 2007 and 2008 and of course thus far for 2009 on the number of homes sold (closed) by month in each year. I wanted to show the cycle to help sellers recognize when to place their homes for sale. Yes, there will be more homes available during this period, but most get sold during it too. While 2007 peaked in July with substantial homes sold in August too, 2008 peaked in June and then dropped abruptly. With the $8000 tax incentive for first time homebuyers, hopefully 2009 will continue strong sales (as strong as they will be this year) through August also.

Update on Tallahassee Real Estate

I've checked the stats for closed homes, townhomes, mobile homes and condos in Leon County for January and February of 2009 and compared them to those for the same period in 2008. While the Florida Association of Realtors says homes sales for the state are up this period as compared to last year, that is not the case, sadly, for Leon County. Our numbers show these sales for this period to be almost half of what they were last year.

I feel this is probably due to concern about the economy and job market, yet there are some buyers out there that just seem do not want to make a decision. Is it because there are too many properties to choose from and they are afraid they'll miss that "perfect" house? Are they just afraid of getting into debt?

Whatever the reason, interest rates are great. Yes mortgage guidelines are strict, but those with good credit can buy. Home prices are also very good and we may not see values like these for decades to come.

If you are interested in buying a home, haven't owned one in at least 3 years, then attend my First Time Homebuyer Class being held on Saturday, March 21, at 10:00 a.m. at the Keller Williams Realty office. Just call me at 850-321-4666 to register. Take a positive step toward home ownership and proven wealth building.

Investor Update on Fannie Mae Loans

This info was sent to me by our in house lender, Carolyn Haley with Fairway Mortgage. If you are interested investment property and need a loan, call her and then call me to find the property. In fact, I have a new listing at 1854 Rodeo Ct. in Frontier Estates, 3 bed, 2 bath, 1 car garage around 1000 sq. feet, split bedroom plan, cathedral ceiling, built in 1992. Everything original except garage door (I think) for a spectacular price of $100,000! Anyway here's the info from Carolyn.

Effective 3/1/2009

Fannie Mae is modifying this policy to allow investor and second home borrowers to own five to ten financed properties if they meet certain eligibility and underwriting and delivery requirements.

Fannie Mae’s current policy limits the number of one- to four-unit financed properties in which the borrower may have an individual or joint ownership interest to four financed properties when the mortgage being delivered to Fannie Mae is secured by an investment property or second home.

Carolynn Haley
Mortgage Loan Originator
(850) 556-0705 (cellular)
(866) 201-4664 (e-fax)
(850) 701-2663 (office)
Fairway Independent Mortgage Company

Boost Your Brain Power

AARP published 50 ways to boost your noodle. One of those ways was to redecorate your home!!!! Yeah baby! Redecorate and redesign your environment from ideas such as planting flowers in front of your home, redecorate your kitchen, rearrange your drawers and closets (don't we all need to do that-get more organized) to changing the candles in your living room to different scented ones. Supposedly this alters motor pathways in the brain and encourage new cell growth.

If you are planning to sell your home, these things are necessary anyway. Plus, it will make your home look more spacious when you get rid of the clutter and when buyers look in your closets they'll see how organized you are and think if they buy your house, they can be organized too.

Now go redecorate!

January 09 real estate stats

I'd like to say things are picking up. I'd like to say that, but January 09 stats on sold single family homes in Leon County, Tallahassee, are 69 as compared to 111 for January 08. There does seem to be increased activity, but buyers are still looking longer, trying to find that house that works for the money. They typically are shopping longer now. If their rental lease is up in a few months, they are looking now, instead of waiting until it's time to move.

Some sellers are also recognizing if they want to sell, it must be priced right. This having room for negotiation isn't really required if the price if lower than any of the competition and if it's not lower than the competition, they are not getting offers.

So sellers, don't price on the high side, price on the low side and get a price close to your asking one.