The Market
The "Market" is determined by the ratio of Buyers to Sellers in any given area. If there are more than 9 months of inventory in local listings, it's a "Buyer's market". Tallahassee currently has a fairly even market. The past three years have been strongly a "Seller's Market" with multiple offers coming in on homes. At the present time this is stabilizing, with homes staying on the market longer in general, although areas in high demand are still turning over immediately.
State Capital
To be well prepared for placing a contract, start the process by making sure you are qualified to purchase, and at what price you can comfortable maintain the mortgage. Consult your bank or credit union as well as other lenders, to get a spread of quotes. Remember, Lenders compete, but the one offering the lowest percentage rate is not necessarily the best loan, as there are other costs involved. The lender should supply you with a "Good Faith Estimate" or a "Truth in Lending" document that outlines the costs. I'll be happy to help you with this process.
You can look into this process initially on your own through the websites listed to the left. At BANKRATE.COM a fairly comprehensive site, you can use the search engine for credit score information, mortgage calculators, and many other helpful tools. Please remember that working with a REALTOR® who knows the market will increase the profitability of your home purchase or sale, while reducing the time you need to invest in the process.
When The National Association of REALTORS® released its annual survey of home Buyers and Sellers, they found that even though 77 percent of consumers initially rely on the internet for buying or selling help, 90 percent overall eventually work with a Real Estate Associate. In addition, the median home price for Sellers who use a REALTOR® is 16 percent higher than a unrepresented Seller (FSBO) marketing their own home.