How's the Market?

I'm frequently asked by people how our real estate market is. My question is why do you ask? What specifically are you wanting to know about the market? Below is an update on our local Leon County real estate.  I hopefully will answer your questions, if not, email me what you'd really like to know.

Prices-Single Family Detached Homes: Average sale price compared to last year this time:
NE: -3%                                                    
NW: -10%                                                    
SE: -11%                                                    
SW: +13%
Total single family detached homes sold last year this time: 1059, now 912.

Inventory
It has gone down, yet we still have a surplus of properties available, even though it may not seem like it. Considering short sales and foreclosures are a large part of our market, which the numbers are down since the beginning of the year but then our inventory is down. Short sales and foreclosures take up 30 to 45% of available properties depending on the price range.

Considering Selling?
Is now a good time to sell?  Depends on price range and neighborhood.  The first time homebuyer and investor priced homes can sell fast and with multiple offers. Killearn Acres (good school zones) has only 7 homes available for sale at this time under $205,000.  Of these 7, two are short sales.  Lack of availability of homes can make for a higher price and quicker sale.  Remember though the power of substitution, a similar home in a desirable neighborhood for a lower price.

What if I'm Thinking of Buying?
Consider the price range again.  Lower priced properties are more competitive because more buyers in that price range.  Yet look at the average sale price declines in the quadrants above.  Good purchases are still to be had.  Have we hit bottom?  Probably, overall in the lower price ranges, but even if we have not, how will you know where the bottom is? 

How's the Market?  I hope this helps answer some of your questions.

Older and Wiser

With age comes wisdom, or so it's been said. I'm not sure that's so true. While any of us can have a fall, break a bone at any time, as we get older, we become more frail and with that frailty, anything can happen.

As our bodies change and we notice these changes, we should start planning how we wish to live as we become incapacitated. Sure, we all want to age in place, and we may be able to do so if, yes if, we take the steps, make necessary alterations in our homes or perhaps even move to someplace better suited to our needs.

I am endlessly told by seniors that they do not want to be burdens to their children, but more often, it's because we don't want to make changes to our lifestyles. Those changes are going to happen whether we like it or not, so why not control some of it by choosing how/where we want to live. Plus, I know from personal experience that when parents and children live cities and states away, it is far more burdensome for the children with concern for the parent and the frequent trips for checking on them, often times because of medical necessities.

All I am trying to say is "make a plan". Not sure what your options may be? Then talk with me, a Seniors Real Estate Specialist to learn what options are available for planning for your extended living situation. We'll discuss your wishes with your family. I'll provide professionals who can answer questions on tax or legal issues to help sort through potential ramifications of your wishes. It's not always about selling one's home, but knowing what can be done at the onset is much better than waiting until one is past a point of being able to choose and having the "state" or someone else make choices for you.

Call anytime for a free consultation.

New Year, New Goals

Mortgage rates are to remain low throughout this year (at least until the election) and prices may be as low as they will go, considering the number of properties available are diminishing, so if your goal is to own a new home this year, now is the time.

Short sales are still predominate the lower spectrum of available homes under $150,000 in Leon County with 45% of these homes being short sales or foreclosures. One must have patience to purchase a short sale. The only thing short about them is that the seller is short on cash to sell.

Folks hear a great deal about short sales, and partly that's because of the number out there and partly because they have been around for a number of years and they will continue to be for years to come.

If you need assistance in finding that new home, finding a lender, or understanding the home buying process in general, then call me, Angie Goodman, Broker Associate with The Goodman Group @ Keller Williams Realty at 850-321-4666.

The first senior moment...and what really happened to the dinosaurs

2012 Senior Games

Save the date for the 2012 Capital City Senior Games! It will be held on March 15 through 19 in 2012. Athletic competitions for anyone age 50 or better (don't you like that better instead of older)? Winners will qualify for the State Games!! WOOHOO

Competition is in table tennis, horseshoes, volleyball, basketball shooting, cycling, track and field, swimming and more!

Visit the website at www.visittallahassee.com or call 891-FUNN

See you there.

GETTING ORGANIZED:

Essential Documents to Store in One File Cabinet

Working from a list that appeared in a Saturday, July 2, 2011, Wall Street Journal article, here are essential personal and financial documents that should be readily accessible by you or your heirs in an eldercare situation. Your personal
circumstances might not require having every item listed here, but the categories reflect the range of issues relevant to caring for an aging parent. Consolidating and organizing this information is not only a great benefit to you while you’re
living, it is also invaluable for your heirs.

By the way:
While having original documents and physical copies collected in one file cabinet
is a fundamental of good financial organization, maintaining an electronic backup
file, such as the online data storage programs offered by many financial institutions, is a superb secondary location for the same documents. Check with one of your financial professionals to see if they offer this service.

Marriage and Divorce:
Marriage license(s)
Divorce papers

Health Care History and Instructions:
Personal and family medical histories
Durable health-care power of attorney
Authorization to release health-care information
Living Will
Do-not-resuscitate instructions

Proof of ownership:
Housing, land and cemetery deeds
Escrow mortgage accounts
Proof of loans made and debts owed
Vehicle titles
Stock certificates, savings bonds & brokerage accounts
Partnership and corporate operating agreements
Tax returns

Life insurance and retirement:
Life insurance policies
Individual retirement accounts
401(k) accounts
Pension documents
Annuity contracts
Bank Accounts:
List of bank accounts
List of all user names and passwords
List of safe-deposit boxes
The Essentials:
Will
Letters of instruction
Trust documents
__________________

Tallahassee Senior Center Expo

I'll be there with many other vendors serving the mature community. The expo is open on Thursday, 9-8-11 from 5 until 8 p.m. and Friday, 9-9-11 from 9;30 to 12:30. Some new stuff, some vendors that have been here for a while and plenty of people to see and visit.

I'll have information about our local real estate market and information for getting assistance for things you may need around the house.