http://www.batonrougerealestateappraisal.com/ – Baton Rouge Real Estate Appraisal: Plantation Trace 2010 Housing Report
Solds In Plantation Trace 70808 from 1/2010 to 9/28/2010 revealed:
Average Sales Price: $275,500
Average Sold Price Per Sq. Ft.: $116.33/sf
Median Sold Price: $275,000
Number of Sales: 6
Average Number of Days On Market: 36
Low To High: $218,000 to $345,000
Number of Sold REO/Foreclosures Noted In MLS: 0
Current # Listings: 6, 0 Are Listed As Foreclosures
Current Listings Prices: $210,000 To $399,000
Below is the charting of median sold price since 1/1/2005.
NOTE: Data for the Baton Rouge Real Estate Trends Report was used with the permission of the GBRAR. Data search was from 1/1/2005 to 9/28/2010, extracted on 9/28/2010.
Tags: Baton Rouge Home Appraisers, Baton Rouge Homes, Baton Rouge Homes For Sale, Baton Rouge Real Estate, baton rouge real estate agent listings, Baton Rouge Real Estate Agents, Baton Rouge Real Estate Appraisers, Baton Rouge Real Estate Buzz, Baton Rouge Real Estate Housing, Baton Rouge Real Estate Minute, Baton Rouge Real Estate Trends, Baton Rouge Realtor, Baton Rouge Realtors
http://www.batonrougerealestateappraisal.com/ – Why Did This Baton Rouge University Club Home Sell $19/sf Below Market? The Answer Is In The Design!
Over the past 3 years, I’ve been driving the streets in University Club Plantation appraising homes and seeing the home in the photos below for sale. This home and older home design (non-Country French) was built in 2007 and originally listed in GBRMLS on 6/29/2007 for $730,000. It was listed in 3 separate listings over 1,113 days (over 3 years) and finally sold on 9/21/2010 for $625,000 or $143.35/sf, for $105,000 less than original listing price.
When comparing this home’s features to the other 6 U.C.P. 2010 home sales with an average $162.57/sf selling price, it was discovered that the home in the photos sold for $19.22/sf less….and took 1,113 days on the market to sell. However, this home probably wasn’t any cheaper to build in 2007 than those homes with more favorable designs.
Choosing the design of your new home is extremely important for a better return on your investment. The design of the home in the photo is more like what was being built in the early 1990′s. And, this isn’t the only U.C.P. of this style that has experienced market reluctance. This U.C.P. home below, with a similar design, was on the market for 330 days from 2009 to Summer of 2010 without selling.
The Baton Rouge high-end homes purchaser prefers the “Country French” style…….At Least For Now!
Data for this market lesson was used with permission of the GBRAR MLS, extracted on 9/28/2010, from dates 6/29/2007 to 9/21/2010.
http://www.batonrougehomeappraisal.com/ – Appraisers In Baton Rouge Report The Numbers: Perkins Village 2010 Update
Greater Baton Rouge Home Appraiser, Bill Cobb, updates the housing market numbers for Perkins Village Subdivision in the Baton Rouge Real Estate Market, Louisiana 70810. Based on 11 2010 Home Sales, 2009 vs 2010, the average sales prices has declined from $107,000 in 2009 to $96,000 in 2010 (rounded). The median sales price has declined from $115,000 in 2009 to $100,000 in 2010. The average sold price per square foot is down from $71.34/sf in 2009 to $69.59/sf in 2010. Year to date, there have been 11 sales versus 12 in 2009. The average days on the market has increased from 105 days in 2009 to 158 days in 2010.
Data used with permission of the GBR Association of Realtors. Data search was from 1/1/2005 to 9/18/2010, extraction date 9/18/2010.
http://www.batonrougerealestatebuzz.com/ – Baton Rouge Real Estate Home Sales: Highs and Lows For September 7, 2010
Rebekah Allen, with the Baton Rouge Business Report, has an update on Baton Rouge home sales as published on September 7, 2010 and quoted below:
“After several months of hoping that the worst had passed in the fragile housing market, the real estate industry experienced record-breaking lows in July.
Experts blamed the historic decrease on the expiration of the homebuyer tax credit and mounting evidence that the economy isn’t ready to rebound.
According to the National Association of Realtors, existing home sales in July dropped 25.5% from the previous year. New home sales plummeted 32.4% from the previous year.
The Capital Region was not immune to the downward trend. July home sales dropped 24.4% in East Baton Rouge Parish from the previous year, 30.6% in Ascension Parish, 25.4% in Livingston Parish and 45.8% in the other parishes, including Iberville, West Baton Rouge, and East and West Feliciana.
But there was some good news, particularly in the neighboring parishes.
Home sales for the first seven months of this year have increased 11.6% in Ascension over the same time period one year ago, 17.3% in Livingston and 33.9% in the other parishes. East Baton Rouge Parish, however, has reported a 6.3% decrease.
Ashley Greer, team leader for Keller Williams Realty in Denham Springs, says her location has seen 38% more business this year than last, and she’s confident that the momentum will continue through the rest of 2010.
“We’re just one exit outside of Baton Rouge,” she says. “You get all of the amenities of a big city without having to pay as much for it.”
Greer adds that home-owners are attracted to the strong school system in Livingston.
“Livingston schools are continuing to build. We have some of the best schools, so parents don’t have to send their kids to private schools,” she says. “Everything we’ve increased our tax dollars to pay for is paying off.”
Appraiser Bill Cobb says Livingston Parish is attracting buyers with affordable price points. He says the bulk of new home sales occurred in the $120,000 to $169,900 range.
The average sale price in July was $197,076 in the Capital Region, down from $203,735 one year ago.
“Builders keep asking, ‘When is the market coming back?’ which is the wrong question,” Cobb says. “The right question should be, ‘How can I deliver a product that locals can better afford?’”—Rebekah Allen”
The Link Is Here: http://www.businessreport.com/news/2010/sep/07/startup-gnit1/
Tags: Baton Rouge Homes, Baton Rouge Homes For Sale, Baton Rouge Housing, Baton Rouge Housing Market, Baton Rouge Real Estate, Greater Baton Rouge Real Estate
http://www.batonrougerealestateminute.com/ - Baton Rouge Real Estate Minute Lanches, Provides 1 Minute Video Updates on local residential Baton Rouge Real Estate. What topics or subdivisions would you like updates on?
Tags: Baton Rouge Real Estate, Baton Rouge Homes, Baton Rouge Housing, Real Estate Baton Rouge, Greater Baton Rouge Real Estate, Baton Rouge Real Estate Buzz, Baton Rouge Real Estate Minute, Baton Rouge Real Estate Trends
http://www.batonrougerealestateappraisal.com/ – Baton Rouge Real Estate Appraisers Video XtraNormal Style: Shenandoah Estates Update September 2010. Bill Cobb, Appraiser experimenting with housing market reports using xtranormal!
Tags: Baton Rouge Economic Report, Baton Rouge Homes For Sale, Baton Rouge Housing Market, Baton Rouge Real Estate, Baton Rouge Real Estate Agents, Baton Rouge Realtors
http://www.batonrougerealestatebuzz.com/ – Baton Rouge Real Estate: To Refi Or Not To Refi. THAT Is the Question In September 2010
The KCM Blog (Keeping Current Matters…building a home for real estate information) has posted financial tips advice on refinancing in today’s low mortgage rate environment: To Refi Or Not To Refi….THAT Is the Question . Read the entire article at this link and Buzz is providing a few snippet paragraphs below:
“Holy Cow! Have you taken a look at where interest rates are these days??? There are Ten Year Mortgages in the 3.75% range for heaven’s sake! Yes, 3.75%!!! What are some of the issues to consider as you (and all of America) contemplates a refinance?”
1. Does it make financial sense?
If you are considering a “rate/payment reduction” refinance, I typically recommend that people do one simple calculation.
2. What about a refinance to shorten the term of a mortgage?
When examining the possibility of cutting years off your mortgage, you should take a good hard look at how such a move can affect your monthly cash flow.
3. What will my home appraise for?
This is the biggest challenge facing most people. With so many homes underwater, there are many people who won’t be able to refinance.
4. Should I lock in?
Even though conventional wisdom is that rates are likely to stay low for a while, history has shown that when they do go up, they go up quickly and dramatically; therefore, my advice is that if you like the rate you are quoted, lock it and sleep well.
5. How will my income and credit be looked at?
Your refinance creates a new loan that will likely be bundled and sold in a new mortgage-backed security; therefore, this new loan will be underwritten to today’s guidelines (which are tighter than they were a few years back).
The most important thing is to speak with a solid mortgage professional and try to address any hurdles BEFORE you spend your money. Compare the proposed savings; honestly assess your home’s value; review your income, assets and credit; all ahead of time to improve the likelihood of a desired outcome.”
