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Joe Manausa's Blog

By Joe Manausa | Broker in Tallahassee, FL
  • Buyers Are Drawn To 32308 In Tallahassee

    Posted Under: Home Buying in 32308, Home Selling in 32308, In My Neighborhood in 32308  |  March 14, 2014 4:10 AM  |  267 views  |  No comments

    When the housing bubble burst back in 2006, homes in the 32308 zip code fell sharply in value.

    While home values tumbled further for the rest of the Tallahassee real estate market, this long-time favorite area in Leon County could not escape unblemished.

    Today, the resulting lower values makes the homes for sale in 32308 some of the most attractive Tallahassee has to offer.

    Expect Brisk Springtime

    Sales will be brisk this Spring for this highly popular NE Tallahassee location.

    32308 home values have barely pushed off of the housing market bottom which was established two years ago, and buyers have noticed.

    32308 Home Values

    In the real estate graph above, the average number of home sales is plotted as a light blue vertical bar (and recorded on the left vertical axis), while average home values are shown as a blue line and recorded on the right vertical axis.

    32308 home values hit rock bottom ($104 per square foot) in 2012, and have only since returned to roughly $110 per square foot today. Perhaps that is why the number of home sales continues to rise, as buyers recognize great value in this area.

    Attractive Home Prices

    The average 32308 home price has bounced around the $210,000 range since early 2010, making this area widely popular for buyers who can afford homes about 30% above the median price point in Tallahassee. Low interest rates make this price range very popular and far more affordable than it has been in recent years.

    Price Of Homes In 32308 Zip Code

    Just as in the prior graph, the average number of home sales is shown as light blue vertical bars, while the average home sales price is shown as a bright blue line and measured on the right vertical axis.

    Ten Newest 32308 Listings

    If you are interested in monitoring the new homes listed for sale, simply bookmark this link: The most recent listings in the 32308 zip code ... we update the list twice each day from the Tallahassee MLS.

    Homes Sold In The 32308 Zip Code

    32308 Home Sales History

  • 32308 Having A Good 2013

    Posted Under: Home Buying in 32308, Home Selling in 32308, In My Neighborhood in 32308  |  October 16, 2013 6:13 AM  |  379 views  |  No comments

    Real estate sales in 32308 continue grow, helping existing home owners who have been waiting to sell a home until the housing market recovery was well under way.

    Home sales have been accelerating since the end of 2010 (up 46%), and there are no signs of slowing house sales in the Tallahassee MLS.

    With some of the more popular neighborhoods in Tallahassee (Like the Betton neighborhoods), we can expect the 32308 zip code to continue with improving sales for the foreseeable future.

    Home Sales In 32308

    Currently, there are 181 homes for sale in the 32308 zip code. Thus far in 2013 (through mid October), there have been 186 homes sold in the 32308 zip code at an average price of $204,232 (which is an average home value of $108 per square foot. The average home size of those sold in the 32308 zip code this year is 1,885 square feet.

    32308 Home Sales

    Home Prices In 32308

    The average price of a home in the 32308 zip code continues to rise, and the current trend has taken arms length home prices above $230,000.

    32308 Home Prices

    Home Values In 32308

    The average arms length home value in the 32308 zip code is $117 per square foot, which is up 8.3 percent from the "floor" that was recorded last year of $108 per square foot.

    32308 Home Values

    Homes For Sale In 32308

    The following map shows all of the homes for sale in the 32308 zip code. If you want to know more about the home, simply click on the picture and the entire detail page will be revealed.

    Homes Sold In 32308

    I hope you were able to learn something from this 32308 Zip Code Home Sales Report, please drop me a note if you have any other questions or concerns that I can help you with.

  • Betton Subdivisions Blowout

    Posted Under: Home Buying in 32308, Home Selling in 32308, In My Neighborhood in 32308  |  September 20, 2013 5:02 AM  |  898 views  |  No comments

    Our latest Betton Neighborhood home sales report shows great news for homeowners in this popular NE Tallahassee neighborhood.

    Demand has recovered completely, and now we are seeing the number of home sales exceed the levels recorded during the boom of the housing market. The secret is out ... there are some great value buys in Betton.

    Currently, there are 14 houses for sale in Betton, and here is what buyers can expect:

    House Sales In The Betton Neighborhoods

    Currently, the rate of house sales in the Betton neighborhoods is just over four per month, which exceeds all sales levels on record going back 10 years. This wonderful rate of sales is likely due to the fallen house values and low interest rates, with buyers taking advantage of a limited time opportunity.

    Home Sales In The Betton Neighborhoods

    The strong results from Betton are not a complete surprise, as we have noted in previous reports that the Betton neighborhoods were leading the way in the Tallahassee real estate market recovery.

    House Prices In The Betton Neighborhoods

    The average sales price of a Betton house over the past year has been $290,000. Considering buyers were spending $110,000 more for the same houses just 6 years ago is reason enough to warrant the blistering pace of house sales in the Betton neighborhoods.

    Home Prices In The Betton Neighborhoods

    House Values In The Betton Neighborhoods

    House values in the Betton neighborhoods stabilized far before the rest of the Tallahassee real estate market. Distressed house sales are all but gone, and real estate appreciation (albeit slow) has been the norm since the first quarter of 2011. So long as distressed house sales have completed, I think we'll see a continuous recovery of home values in all 7 Betton neighborhoods.

    Home Values In The Betton Neighborhoods

    Map Of Listings In The Betton Neighborhoods

    The following map shows all of the houses for sale in the Betton neighborhoods. If you want to know more about the house, simply click on the picture and the entire detail page will be revealed.

    List Of House Sales In The Betton Neighborhoods

    I hope you were able to learn something from this Betton Neighborhoods House Sales Report, please drop me a note if you have any other questions or concerns that I can help you with.

  • Betton Subdivisions Are Hot!

    Posted Under: Home Buying in 32308, Home Selling in 32308, In My Neighborhood in 32308  |  August 21, 2013 5:06 AM  |  707 views  |  No comments

    Homebuyers are returning to the Betton neighborhoods in Tallahassee, which is no small wonder as this has always been a highly prized location in Northeast Tallahassee.

    There were nine home sales in Betton in the month of July, a record number that is unsurpassed going back 12 years.

    The Betton subdivisions include Betton Brook, Betton Estates, Betton Hill, Betton Hills, Betton Oaks, Betton Place, and Betton Woods. For the most part, you can always find homes for sale in Betton Hills and Betton Hills, as well as the higher priced Betton Woods. The other Betton subdivisions are small enough that it is common to have no inventory available.

    Our updated report on the Betton subdivisions shows all the recent home sales that have consumed the majority of the distressed homes and have returned this prominent area of Tallahassee to a vibrant real estate market.

    Recent Homes For Sale In Betton

    Distressed home sales in the Betton subdivisions are nearly non-existent, which is VERY rare for any neighborhood in the Tallahassee real estate market.

    home for sale in Betton Tallahassee

    In the real estate graph above, the number of home sales each month is measured on the left vertical axis, while the ratio of distressed home sales to all Betton home sales is shown on the right vertical axis. Arms length home sales are shown in green, while the distressed sales (foreclosures, short sales, bank owned properties) are shown in red.

    I find it very promising that July recorded a 12+ year record, but the most impressive aspect of this achievement is that all sales were arms-length, meaning it was a "clearance sale" based record.

    Homes For Sale In Betton Are Appreciating

    Home values in the Betton subdivisions are now similar to what we saw in April of 2005. That's right, you can buy a home in a Betton subdivision with near-record low interest rates at the same price you would have paid in 2005!

    house for sale in Betton Tallahassee

    Based on the home value trend in the graph above, I don't think people sitting on the fence waiting to buy in Betton are going to benefit from waiting any longer. If you would like help negotiating the best deal possible for a house for sale in Betton, just drop me a note and we can schedule a time to review supply and demand and ensure you know exactly what to offer.

    List Of More Than 400 Home Sales In Betton

  • Home Sales In The Bettons

    Posted Under: Home Buying in 32308, Home Selling in 32308, In My Neighborhood in 32308  |  April 19, 2013 5:34 AM  |  498 views  |  No comments

    I am often asked my opinion on real estate values across Tallahassee, and the Betton neighborhoods certainly rank among the Tallahassee neighborhoods requested most frequently.

    As popular Northeast Tallahassee neighborhoods situated inside of I-10, the Betton subdivisions (Betton Brook, Betton Estates, Betton Hill, Betton Hills, Betton Oaks, Betton Place and Betton Woods) offer homeowners a place to live that is convenient to the heart of Tallahassee and is only minutes from downtown.

    Currently, there are 18 homes for sale in the Betton Neighborhoods.

    Not surprisingly, the graph above shows that the distressed rate for Betton house sales is on the decline, and the past year's average has fallen to just 8%.

    Betton House Sales Values

    When we look at the Betton house sales graph below, we see that home values had declined more than 30% since the peak of the market, but recently have stabilized to a level roughly 24% below peak market values.

    Betton Home Sales

    It is important to understand that the graph above shows "arms length" values over time, thus the distressed sales (which have surged as high as 25% of all Betton house sales at one point) are not included. Therefore, a new surge in distressed homes offered for sale in the Betton neighborhoods could very well bring values back down again.

    We are not yet out of the woods in this real estate market recovery, but Betton house sales will likely continue to beat the market due to the highly desired location of these favored neighborhoods.

     

    Recent Betton House Sales

  • Betton House Sales Rebound In 2012

    Posted Under: Home Buying in 32308, Home Selling in 32308, In My Neighborhood in 32308  |  January 4, 2013 4:49 AM  |  402 views  |  No comments

    2012 recorded more home sales in the Betton neighborhoods than any year prior since 2006.

    Located inside of I-10, the Betton neighborhoods have long been considered high demand real estate. Because of this, we have always believed we would see home values fall the least and rebound the quickest in these popular NE Tallahassee subdivisions.

    Betton Home Sales Rebound In 2012

    It is too early to state that Betton recorded real estate appreciation in 2012, as the impact was mostly due to the falling number of distressed home sales. But if values go even higher in 2013, I think that will be proof enough.

    Unfortunately, we still have several more years of distressed properties to clear, so it is likely that these non-arms-length home sales will bounce up and down and distort our measurements. With only thirty to forty sales per year, its just not enough to see fluid results.

    Currently, there are 14 homes for sale in Betton in the Tallahassee MLS.

    Home values rose 2.9% in 2012, which stands as the best of the Tallahassee housing market.

    Betton Home Values

    I suspect that we will see Betton home values decline in 2013, as distressed properties for sale will continue to create pricing pressure on all Tallahassee home sales.

    We know there are plenty more to clear from the shadow inventory, and only the pace at which they flow into the market will determine how fast the real estate recovery occurs.

    >> Click For All 2012 Betton Home Sales <<

  • 32308 House Sales Report

    Posted Under: Home Buying in 32308, Home Selling in 32308, In My Neighborhood in 32308  |  October 16, 2012 6:14 AM  |  415 views  |  No comments

    32308 Home Sales ReportAs part of our review of the most popular zip codes in the Tallahassee real estate market, today we'll examine 32308 house sales to determine current trends.

    Combined with our recent reports for the 32309 and 32312 zip codes, the 32308 house sales report makes up the "big 3" of Northeast Tallahassee.

    But unlike the previous 2 reports, a very different trend is occurring among houses for sale in the 32308 zip code.

    32308 House Price Trend

    In the real estate graph above, we see that buyers are getting a lot of house for the money in the 32308 zip code, where the average size of a 32308 house sold is near an all-time high.

    Below, we see that the average price of a 32308 house sale remains near a 6 year low, so combining the two graphs we can conclude that values must look pretty good right now for housebuyers.

    32308 Home Price

    32308 House Value Trend

    The graph below is the "smoking gun;" the different trend that is occurring in the 32308 zip code. Note how 32308 house values have remained fairly stable over the past year, while the rest of the Tallahassee real estate market has shown real estate depreciation?

    32308 Home Value

    Of course, this has more to do with the stream of distressed property sales than it does actual value changes, but it is still comforting to see the line flatten from its six year decline.


    Recent 32308 house Sales

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