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 In Joe Manausa's blog, which is the owner in Tallahassee Real Estate, he wrote the conditions that needs to be followed regarding the homes for sale in Tallahassee, however, he also included about the homes that were not yet sold.  The owners tries to sell these houses in the shadow inventory before, however, they did not succeed, hence, they just gave up on it.

 

 However, Homes Just Listed For Sale In Tallahassee has at least 2 years of house supply in the shadow inventory, based on the statistics and calculations of Joe Manausa, however, the supply would most likely reach 4 years if the potential houses will be added.  It is really hard to determine the relative supply in 2 to 4 years considering that the relative supplies are based on the demand, as identified by actual sales.  However, if the market conditions & the connection of the housing market with the government will change, the prediction of Joe Manausa will most likely come to reality.

 

 However, the shadow inventory can be affected by the foreclosures (& pre-foreclosures), and homes, condominiums and townhouses.  Over the 4 quarters of 2011, the Federal Reserve Bank of Atlanta has conducted a survey where it shows the increase in number of houses over 90 days late in mortgage payments and the number of houses in foreclosure.

 

 The statistics show that only in Leon county, the foreclosure rose from 2,860 houses, condos & townhomes to 3,220 which is approximately 0.65%  However, the 90 days late in mortgage payment increased by 0.34% from approximately 1,110 to 1,330.  Eventually, these homes will join the market and will show an increase trend in the shadow inventory. Be sure to check out this website at http://home.wikia.com/wiki/Realtor and know more about real estate.

 

Almost half of all the houses listed in 2011 did not sell, and were taken off the market.  Many of the houses that were removed were re-listed, however, there are also many houses that were not given the chance to be listed again.  All of these houses that were not listed are waiting or the increase of demand in order for them to be listed again. The homeowners want to sell, but they cannot find a buyer.  The oversupply can also affect the decrease in overall housing value.

 

 

 However, the level of homes for sale in Tallahassee can be affected by the drop of housing value which is caused by an oversupply.  Because the houses are cheaper to buy and interest rates are at low levels, it explains why most home buyers are home sellers before. That is most home purchases are made by people who are looking for a new home to better suite their families or lifestyle, either to a larger, or smaller home.  Or maybe, they just wanted to transfer to a better neighborhood or a better school.  But before transferring, they have to sell their existing homes first. Know the new MLS listings for sale On The Joe Manausa Real Estate website here!