The Rivers Team Keller Williams Town & Country Realty Office: 850-297-2255 Fax: 850-201-4664 1520 Killearn Center Blvd., Suite 100 TallahasseeFL32309
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Presented by: The Rivers Team
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Tallahassee News & Rivers Team News
We're Serious About Tallahassee Real Estate!
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CONGRATULATIONS TO DUONG NGUYEN for correctly answering January's TALLY TRIVIA question 1st! Duong will receive a $25 Target Gift Card
The Question Was:
In August of 1966, an unknown person shot and killed a 650 pound, 11-foot 2-inch alligator at Wakulla Springs. What was the alligator's nickname?
The Answer Is: Old Joe
Look for this Month's TALLY TRIVIA Below
Tallahassee Market View
Here's What Our Agents Had to Say About the Current Real Estate Market
Another month has gone by and I still see optimism growing in the Tallahassee real estate market. Supply is still way up, but I see more movement from buyers in the last two month. In order for sellers to compete with all the inventory, they will need to do two things. Be in the top 1/3 of their competition in CONDITION and bottom 1/3 of their competition in PRICE and they will get things moving. And of course get the advice of a really great Realtor Team - US!
If you have any questions or comments, please feel free to call 850.509-7900 or email Rebekah@RingTheRivers.com.
Whew has the market picked up! My sellers have executed 8 contracts in the past 10 days -- that's 8 more homes off the market! I feel like the 2nd quarter will be fantastic. As long as you are a seller that 1. The property is priced right, 2.Tthe property is in "model home" condition, 3. You have a dynamic marketing plan in place and 4. You have a great realtor to guide you through steps 1-3 you will be on your way to getting your property SOLD! - Kim Rivers, Listing Specialist
If you have any questions or comments, please feel free to call 850.508.0261 or email kim@ringtherivers.com
The entire state of Florida is officially considered a declining market.
Mortgage insurance companies will not issue a policy if the loan to value or combined loan to value is greater than 90% effective March 1.
This is a FannieMae/FreddieMac guideline that is across the board. FHA loans are not affected by this. FHA requires 3% down. When using FHA in conjunction with bond or any ship programs the down payment assistance can count as the 3% down payment, leaving the client at financing 100%.
There are programs that do not require mortgage insurance, however there are income limitations. - Ellie Stafford, Listing Specialist
If you have any questions or comments, please feel free to call 850.545.0814 or email ellie@ringtherivers.com
This may be the best market in which to buy a home that you will see for years. The selection of available homes, the current interest rates, and the willingness of sellers to assist in your purchase have seldom been greater. - Sheila DeCamp, Buyer's Specialist
If you have any questions or comments, please feel free to call 850.251.0148 or email sheila@ringtherivers.com
Hello everyone! Last night I was talking to someone who has had a tremendous amount of experience in our market over the last decade. I was telling him that things have definitely started to pick up and was excited about the growing trend. He reminded me that this is usually the cycle and that we should wait until after the summer to see what happens. It will either continue to grow, as compared to last year, or drop off. This will be the true test to whether we are in a rising market or not. I look forward to finding out! ThanksGene!
Kierston Schultz, Buyer's Specialist
If you have any questions or comments, please feel free to call 850.294.0777 or email kierston@ringtherivers.com
“WOW! Today feels like a completely different market than market we have been experiencing in the past. Buyers seem to be focused and serious about the home buying process. They are inquiring about properties, which they know they qualify for, mainly because they have already spoken with a lender. Buyers seem to be looking for that perfect deal: A beautiful home that is priced at fair market value or just under. The time is now to price your home right, because the buyers in this market are willing and ready!” - Sarah Barnett, Buyer's Specialist
NOW IS THE TIME TO BUY! Buyers are wondering if prices will continue to come down... In reality mortgage interest rates are low and stable, home prices are affordable, and inventory is high. We should all take advantage of what is available right now. Who knows when rates will start to climb back up. Then it is too late! - Shari Edington, Buyer's Specialist
Is it possible for homeowners that are trying to sell their homes to encounter multiple offers to choose from? Yes it is!!!! "How is that?" Many may say this because they feel we are in a "bad" market; but if sellers do the things that they need to do, it is true that they can pick the next owner of their home. It is a strong guarantee that if your home is priced right, marketed well, and in great condition, your home will sell within the first thirty days and recieve multiple offers. Now if your decide you don't have the time nor the money to stage your home well, you should offer incentives such as a lower price, closing costs, or allowances. This will give you a stronger opportunity to catch a few buyers. The market in Tallahassee has sustained itself through the changes it has incurred over the past 2 years and continues to rise into more homes being sold. If you are a buyer get out there and find your next home or investment property. If you are a seller, get your home in great condition, price it right, hire an experienced realtor, and wait to see the offers pour in. - Christina Butler, Buyer's Specialist
Rivers Team Real Estate Services
Thinking of buying? There's never been a better time! Rates are low and you have a wonderful selection. Log on to: www.HomeSearchTallahassee.com to receive instant notification of new listings as they hit the market. Or, e-mail MoreInfo@RingTheRivers.com to contact our on-call Buyer's Specialist.
We're proud to offer our customers the following services:
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Agent On Call 9AM to 9PM, 7 Days A Week
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365-Day Prospecting
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Guaranteed Quick Response Time
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Full-time Marketing, Listing, Closing, & Relocation Departments
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We Market Your Home on 30+ Websites, Direct Mail, & Print Publications
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Customized Website -24/7 Web Access to Sale of Your Home
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Automatic Prospecting - Instant E-mail Notification of NEW Comparable Homes for Sale
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Sales Attendant Checks Listings Weekly
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Free Customer Moving Van
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Trade-In Program
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Rental Assistance
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AND MORE!
Interested in learning more about our comprehensive real estate services? Visit www.RingTheRivers.com or e-mail MoreInfo@RingTheRivers.com to request our Buer's Guide or our Marketing Plan. Watch our award-winning videos on Tallassee, Tallahassee Home Buying, and Tallahassee Home Selling at:
State and National Real Estate News State Farm Curtails Fla. Policies
State Farm Florida will stop writing new homeowners policies in the state beginning this Saturday. The company’s current policyholders won’t be affected.
State Farm is trying to lower its hurricane exposure risk, particularly in densely populated areas such as South Florida and Tampa-St. Petersburg.
In a statement, the company said: ``As part of State Farm Florida's continuing effort to responsibly manage its growth and the financial stability our customers expect and deserve, we're implementing an overall statewide plan to limit our growth in Florida.''
Other companies, including Allstate and Nationwide, have also been reducing the number of homeowner policies they write in Florida.
Source: The Miami Herald, Beatrice E. Garcia (02/24/2008)
Wells Fargo Analysis: 200 Troubled Markets
Wells Fargo & Co., the country’s second-largest mortgage lender, says it has identified more than 200 housing markets nationwide where the mortgage crisis has spread.
Wells Fargo tightened its lending standards in affected markets in 24 states and the District of Columbia.
Wells Fargo said California has at least 33 housing markets "at risk," and that at least 20 counties, including Los Angeles and San Diego, face severe distress.
Florida has 33 at-risk markets, followed by Michigan and Virginia with 15 each, and Maryland and Ohio with 13 each, Wells Fargo said.
Other at-risk markets are located in Arizona, Colorado, Connecticut, the District of Columbia, Illinois, Louisiana, Massachusetts, Minnesota, Missouri, Nevada, New Hampshire, New Jersey, New York, Oregon, Pennsylvania, Rhode Island, Washington, Wisconsin and West Virginia.
Source: Reuters News, Jonathan Stempel (02/27/2008)
Remodeling Becomes Status Symbol
At the height of the real estate boom in 2005, Americans spent more than $180 billion on home renovations, according to Harvard's Joint Center for Housing Studies.
Nationwide, according to the Harvard researchers, renovation expenditures fell an estimated 2.3 percent in 2007 and will continue to decline in 2008.
But in neighborhoods that are relatively untouched by the housing bust, there are still plenty of dumpsters in the driveways.
Cornell economist Robert Frank, author of Luxury Fever, hypothesizes that people renovate homes because they see others doing it. He says that even people who aren’t particularly materialistic look at their neighbors and say, "'He has something nicer than I do, and I feel bad about it.’ … They decide to renovate not just aiming to impress people, but to feel that they are treating themselves right,” Franks says.
Source: The Boston Globe, Daniel McGinn (02/24/08) Special Thanks
Rivers Team VIP CLUB thanks Richard and Dot Herbert
A Special Thanks to Richard and Dot Herbert, owners of Peterbrooke Chocolatier and friends of the Rivers Team, for participating in our VIP program for February. They kindly provided our VIP customers with $5.00 off of their total purchase at Peterbrooke! You can visit Richard and Dot at 3491-10 Thomasville Road - in the Publix shopping center - and get some sweets for a sweet person in your life.
Want to receive monthly discounts and special offers from local businesses? Interested in partnering with us on a giveaway or promotion?
E-mail us at VIP@RingTheRivers.com
Green Tip of the Month
Recycle Your Inkjet Cartridges
By Brian Clark Howard
It's easy to reuse or recycle your inkjet cartridges, so get started today.
If you've been chucking your inkjet and toner cartridges in the garbage up to this point, you're not alone. Over 13 cartridges are discarded in the U.S. every second, according to CartridgeFundraising.com.
That's hundreds of millions of cartridges that end up in landfills every year, made with plastics that can take at least 1,000 years to decompose. Not a good thing.
It's actually easy to cut down on this waste. First off, some inkjet cartridges can be used more than once by buying a refill kit. If this seems too messy, take your empties (think copiers and faxes, too) to the nearest drop off center to be reused or recycled by others. (Plug your zip code into Earth911.org for nearby collection places.)
Many companies, such as Hewlett-Packard, take them back for free. They provide mailers or labels for you to ship them back to be recycled or refurbished.
It takes about 80% less energy to remanufacture plastic than to produce it new. And remanufactured laser cartridges use about half the amount of oil (a nonrenewable fossil fuel) needed to make brand new ones. So buy recycled cartridges to begin.
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Keller Williams Town & Country Realty, 1520 Killearn Center Blvd., Suite 100, Tallahassee, FL, 32309
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