A well-known mortgage data provider says foreclosures in Tallahassee for this past October is 1.7 percent--which is one percent higher than October of 2007. The same source says that home prices fell by 4.05 percent in October as well.
Some local real estate professionals say it will be sometime before the market recovers--and staying up to date is more important than ever. Gary Bartlett, a local Realtor said, "It takes a lot more patience, it takes a lot more time to get a home sold in this market, even here in Tallahassee. So that is one of the things that we really emphasize when we sit down with homeowner when we get ready to sell a home."
The data provided through First American CoreLogic is based on the number of active mortgage loans in Tallahassee.