Baton Rouge Home Appraisal Dot Com

http://www.batonrougerealestateappraisers.net/ – East Baton Rouge Parish Quarterly Sales By Zip Code Q1 2010 versus Q1 2011 Report. Report shows an increase in number of home sales over 2010, but significant declines in Average Sales Prices overall. Report includes ALL housing types in East Baton Rouge Parish.

Accurate Valuations Group (Home Appraisals) has completed an analysis of the East Baton Rouge Parish housing market from First Quarter 2010 versus First Quarter 2011. The results are below. Click the chart to view in a larger size.

This is a lot of data to report on in one (1) article with “20″ zip codes. A short summary follows:

Number of Home Sales Increased Over 2010! For the number of home sales, only 9 zip codes reported a smaller number of sales. And, Ten (10) Zip Codes experienced more sales in Q1 2011 than in Q1 2010, which is great news for our market.

Average Sales Prices Overall Decline! This is consistent with the CoreLogic report on national home prices falling for the 7th straight month, as reported on Thursday, April 7, 2011. Thirteen (13) of the 20 Zip Codes showed declining average sales prices versus only Seven (7) showing increases. Local home prices are continuing to correct.

Average Sales Price Per Square Foot Overall Declines! This is consistent with the CoreLogic report. Fifteen (15) of the 20 Zip Codes showed declining average sales prices per sq. ft. versus only Seven (5) showing either no change or just slight increases.

Biggest Gainers. Zip Code 70807, the Scotlandville market, showed a 450% increase in number of home sales. Zip Code 70739, the Central or Greenwell Springs market, showed a +16.2% increase in Average Sales Prices AND +5.6% in Average Sales Price Per Sq. Ft.. Central is a “hot” market viewed by locals as having a favorable school district.

Largest Declines. Zip Code 70820, the market below LSU off Brightside, showed a -35.3% decrease in number of home sales. Zip Code 70802, the market in and around Central Business District, showed a -33.4% decline in Average Sales Prices AND -30.2% decline in Average Sales Price Per Sq. Ft..

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Author’s Bio:
Bill Cobb is Greater Baton Rouge’s Home Appraiser frequently called upon by banks, homeowners, and savvy real estate investors to assess property values. A home appraiser with 20 years experience, Bill Cobb brings a wealth of knowledge to the table as a home appraiser.

Bill’s company, Accurate Valuations Group, serves Greater Baton Rouge (East Baton Rouge Parish, West Baton Rouge Parish, Western Livingston Parish and Northern Ascension Parish).

Contact Bill Cobb and Accurate Valuations Home Appraisal Group for your next home appraisal:
Office: 225-293-1500, Cell: 225-953-0638
Fax: 1-866-663-6065
info@accuratevg.com
http://www.accuratevg.com/

http://www.homeappraisalsbatonrouge.com/ – Does a garbage disposal have to work for a Greater Baton Rouge FHA loan?

As a State Certified Home Appraiser in Louisiana and FHA/HUD approved appraiser since 1996, I can validate that FHA Home Loans have strict requirements of operational mechanical systems placed upon the home appraiser to inspect and verify. While home appraisers aren’t necessarily “home inspectors”, FHA home appraisers are required to verify that mechanical systems are functioning properly and that they would appear to have a reasonable life left.

HUD or FHA Home Appraisers are expected to be well versed on 2 major manual plus keeping up the “Mortgagee Letters” that offer amendments and updates to HUD policy. In fact, the statement many lenders want placed in reports is, “Condition: Overall Condition is: Average. No major repairs or functional inadequacies. MEETS FHA/RD MINIMUM STANDARDS for existing dwellings as outlined in HUD Handbooks 4150.2 and 4905.1 Requirements and all applicable Mortgage Letters). SFR Dwelling was determined to be decent, safe and sanitary. Subject is connected to public or community sewer. Mechanical Systems were on and operational. Attic was inspected and appears to individually meet FHA requirements.” No, the lenders don’t tell us to use “Average” but to state a condition rating. And, FMHA or Rural Development and VA loans also have these same requirements as well.

So, can a inoperable garbage disposal hold up an FHA loan closing until repaired? There are four (4) national HUD HOC’s or Homeownership Centers in the U.S.. For Louisiana, the HUD HOC is located in Denver, CO. I called the Denver HOC Appraiser Tech Support Department at 1-800-543-9378 for a verifiable answer to this question. I spoke with “Gary” and he said that NO, the inoperable garbage disposal WILL NOT HOLD UP A CLOSING because FHA doesn’t require appliances to be installed in homes. Gary said that includes Range/Ovens, Dishwashers or Garbage Disposals. Gary said that this is a “condition” issue and that FHA appraisers should apply deductions to the subject property if the comps used have appliances and superior functioning appliances.

BEFORE YOU BUY THAT HOME, GET A HOME INSPECTION!

In the early 2000′s with FHA’s introduction of the HUD Form “HUD-92564-CN” For Your Protection: Get A Home Inspection, FHA made the distinction between the home appraiser and the home inspector and strongly recommended home buyers obtain a home inspection. This appraiser also recommends you obtain a home inspection as well to know the true condition of mechanical system and a more accurate remaining economic life. Home appraisers are fairly limited on their knowledge of such systems but home inspectors are trained to know these systems and know them very well.

Just remember that if you as a home buyer receive notice that there are FHA mandated repairs on the home being purchased, know that this is for your benefit and that generally the seller will be required to repair these items prior to closing.

Bill Cobb, with Accurate Valuations Group, is a long time FHA Home Appraiser within the Greater Baton Rouge housing market. Bill can be contacted at 225-293-1500 or info@accuratevg.com .

First Garbage Disposal Source Photo: http://www.thehandyblog.com/disposal.php

Second Garbage Disposal Source Photo: http://appliancefactory.com/

http://www.batonrougehomeappraisal.com/ – Greenwell Springs Central LA Appraisers: Bellingrath Lakes Sudivision 2010 Price Trends Wrap Up!

Overall, there were nine (9) 2010 sales which brought the median sales price higher than 2009′s $304,400 and higher than 2008′s $294,500. In 2010 as compared to 2009, the Average Sales Price has declined 7.8%, Median Sales Price increased 3.5% and Average Sold Price Per Sq. Ft. declined $4.48/sf. There is one (1) foreclosure noted on Lake Stream Drive. And, that unfinished home that sat vacant for about 1 year or more was sold in 2010 for $148,000, an MLS sale, and is being finished. NOTE: If you are considering purchasing a home in Bellingrath Lakes and don’t want to pay too much, I would advise one to order a “Pre-Purchase Appraisal” from Accurate Valuations Group as there are at least two (2) current listings in Bellingrath Lakes well above market support.

Solds In Bellingrath Lakes Subdivision from 1/1/2010 to 12/31/2010 revealed:

Average Sales Price: $293,700 ($318,550 in 2009)
Avg Sold $ Per Sq. Ft.: $119.27/sf ($123.75/sf in 2009)
Median Sold Price: $314,900 ($304,400 in 2009)
Number of “MLS” Sales: 9 (6 in 2009)
Average Number of Days On Market: 102 (188 in 2009)
Low To High: $155,000 to $162,000
Number of Sold REO/Foreclosures Noted In MLS: 1
Current # Listings: 4, 0 Are Foreclosures
Current Listings Prices: $285,000 to $379,000 or $120/sf to $149/sf. NOTE: The $142/sf listing on Bellingrath Lakes Ave, not on the lake, is grossly overpriced for this market based on the numbers or support above.

NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of January 1, 2009 to December 31, 2010. This information was extracted on 1/10/2011. Yes, this appraiser has obtained permission from GBRAR MLS to use the above pricing chart!

Tags: Baton Rouge Homes, Baton Rouge Housing, Baton Rouge Housing Market, Baton Rouge Real Estate, Baton Rouge Real Estate Housing, Baton Rouge Real Estate Trends, Central City, Central La, Greenwell Springs, Bellingrath Lakes

http://www.batonrougerealestatebuzz.com/ – Baton Rouge Real Estate Buzz: How To Straighten A Photo Free With Windows Live Photo Gallery! In this video, Home Appraiser Bill Cobb shows how he straightened a photo for a blog post.

Windows Live Photo Gallery allows one to share photos and videos online, find the photos you’re looking for and make photos look great! And, it’s FREE!

Windows Live Photo Gallery 2011 Description: “Import photos from your camera, organize them into albums, and edit them so they look their best. Use powerful photo tools to create stunning panoramas, movies, slide shows, and more. When you’re ready to share, publish your photos and videos to your favorite websites like Facebook and Flickr directly from Photo Gallery.” Source: http://explore.live.com/windows-live-photo-gallery?os=other

Actually, I downloaded 6 more plugins that will allow me to upload directly to Twitpic, Facebook, Multiply, Auto Collage, Smugmug and Digital Frame.

http://www.batonrougerealestateappraisal.com/ – What 2010 Recession? Have You Seen The Baton Rouge Real Estate Garden District Lately?

New Millon Dollar Home Finished Construction On Longwood Drive!

I was performing a home appraisal yesterday morning on Longwood Drive in Glenmore Place and you’d never know there was a “National Recession” taking place in this neighborhood! Below is the map where Glenmore Place is located.

The “Lure” of the Baton Rouge Garden District! The Lure must be very strong because the builders of this home under construction below, at 1571 Longwood Drive, paid $312,000 for this home below, demolished it and are building this high-end home below. In reality, the $312,000 sales price was for the 100′ x 250′ lot or $12.48 a square foot.

Why would a buyer pay $312,000 for a lot you might ask? The answer is simply convenient location in the middle of Baton Rouge and close to LSU & Central Business District, “neighborhood” feel, wide streets with sprawling oak trees (natural beauty) and more a active population in terms of fitness! The LSU Lakes walking paths are only a couple of miles away. Neighborhoods within the Baton Rouge Garden District are very different from neighborhoods to the southeast such as Shenandoah Estates where I grew up. There’s a “community feel” and one generally knows who their neighbors are. I’ve often thought of the contrast as the “living-awake versus living in the rat race”.

Here are some of the newer homes on Longwood and Ingleside Drives

What I’ve been seeing in this National downturn locally is that those with cash and investments are doing well and those living paycheck to paycheck are those that are struggling! Drive through Longwood Drive or in Jefferson Place Subdivision and you will quickly understand what I’ve been seeing since 2008 when this downturn began. There are those that are thriving in this downturn helping to make Baton Rouge the success story it is nationally! And, those that are helping to make Baton Rouge such a success story live in Shenandoah Estates as well in the Baton Rouge Garden District!

Tags: Baton Rouge Estate Appraisers, Baton Rouge Estate Settlement Appraisals, Baton Rouge Housing, Baton Rouge Housing Market, Baton Rouge Real Estate, Baton Rouge Real Estate Agents, Baton Rouge Real Estate Appraisers, Baton Rouge Real Estate Trends, Baton Rouge Realtor, Baton Rouge Realtors, Baton Rouge Garden District