I wanted to share this video regarding divorce and the possible home options available. This video was created by Jamey Milheiser, a mortgage professional. Yes, he does represent another State in the USA, but his video and the questions he helps answer may also help locals as well.

Jamey covers:

1.) You do have options when it comes to your property.

2.) “I think I want to stay in the home……what do I need to keep in mind?”

3.) “My spouse is entitled to share in the equity we have in our home……how is this handled?”

4.) “What if I am the one leaving the home?”

5.) “How might divorce impact my credit?”

6.) “If I want to buy another home–am I going to be out of luck while I am still listed on the old mortgage?”

Visit: Divorce And Your Home Options to watch Jamey’s video and read his answers.

My Appraiser Friend in Sacramento California, Ryan Lundquist, just posted this interesting article, Letting the dogs pee outside is an okay idea | Sacramento Appraisal Blog . Image is from Ryan’s post.

My Baton Rouge Home Appraiser for 20 years comments are these:

It’s amazing how many people have pets, don’t realize just how strong pet odor can be (owners get used to it), especially with cats, and we appraisers sometimes gag over the smells in people’s homes….trying to maintain a smile during the inspection.

I appraised a home recently in Area 41 where pets had so smelled up the home that it took close to 550 days on the market to sell this under 15 yr old home at a huge discount. If the seller would have just invested $2,500 and changed out the carpet and removed the pet odor, they might have not lost about $15,000 on the sale.

Home Selling Tip For Pet Owners: When it comes time to sell your home and you’ve owned pets, move the pets to another location, change out the carpet and get rid of the pet odor. Ask others that don’t live there to do the sniff test to make sure the pet odor is gone!

Tags: Baton Rouge Real Estate, Baton Rouge Homes, Baton Rouge Housing, Baton Rouge Home Appraisers, Baton Rouge Real Estate Appraisers, East Baton Rouge, Greater Baton Rouge, Baton Rouge Home Appraisal, Home Appraisals, Baton Rouge Realtors, Baton Rouge Real Estate Agents

This is a reblog from the Move Smartly Blog that locals might find helpful for Greater Baton Rouge related divorce matters! The credit for this article goes to David Larock and here’s the link to his article: Mortgage Advice for Couples Planning a Divorce

Tags: Appraisers in Baton Rouge, Baton Rouge Homes, Baton Rouge Housing, Baton Rouge Housing Market, Baton Rouge Real Estate, Baton Rouge Real Estate Agents, Baton Rouge Real Estate Housing, Baton Rouge Real Estate Minute, Baton Rouge Real Estate Trends, Baton Rouge Realtor, Baton Rouge Realtors, Comite Hills, Central LA, 70818

Solds In Shenandoah Hills Subdivision from 1/2010 to 12/31/2010 revealed:

Average Sales Price: $146,357 ($133,260 in 2009)
Average Sold Price Per Sq. Ft.: $108.12/sf ($99.34/sf in 2009)
Median Sold Price: $149,500 ($132,500 in 2009)
Number of Sales: 7 (5 in 2009)
Average Number of Days On Market: 44 (48 in 2009)
Low To High: $129,900 to $152,000
Number of Sold REO/Foreclosures Noted In MLS: 0
Current # Listings: 3, 0 Are Foreclosures
Current Listings Price: $140,900 to $150,900 or $105 to $113/sf

The Median Sales Price has increased from $132,500 in 2009 and $144,000 in 2008 to $149,500 in 2010.

NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of January 1, 2010 to December 31, 2010. This information was extracted on 1/1/2011. YES, this appraiser does have the permission of GBRMLS to use the chart above Subdivision Price Trends Report!

Tags: Baton Rouge Estate Appraisers, Baton Rouge FHA Appraisers, Baton Rouge Housing Market, Baton Rouge Real Estate, Baton Rouge Real Estate Housing, Baton Rouge Real Estate Trends,

Home appraisals for settling an estate is not an easy process after the death of a loved one, legally and emotionally, this presents different variables when taking control of all possessions left. From all the posterior decisions about the beloved one’s wealth, it is important to derive this precept, that a certified estate layer is the right person to assist and advice all the process involved in the distribution of property and possessions. Obtaining a home appraisal for settling an estate is the most accurate procedure when making decisions that affect family members, friends, and other associates. In this respect, estate appraisers in Baton Rouge are the best solution to obtain a home appraisal to make this process easier and fairer to all people involved.

Baton Rouge estate appraisers are a great deal of the estate settlement process since they accurately determine a property’s value. Given all the variables involved in the process such as emotions and speculation, estate appraisers Baton Rouge can provide detailed official documents concerning the value of an estate. Certainly, this appraisal is done through reliable and clear studies of the property so that there is no place for conjectures or disputes among heirs and/or tax agencies. Certainly, this will help to simplify all solutions about current taxes and to appraise inheritance tax liability, if necessary.

There are certain characteristics of property appraisals, of which the unknown factors significantly affect the estate settlement process itself. In this sense, estate appraisals are not absolute since there are certain characteristics out of the appraiser’s reach. Great affairs of state such as economic recession have shown how well-made appraisals can become imprecise or obsolete after some months or weeks. Nonetheless, estate appraisers Baton Rouge rely heavily on fundamental variables like lot size, property’s age, number of rooms, amenities, and geographic location. Subsequently, these variables are compared with other properties appraised in order to adjust values.

Baton Rouge estate appraisals always include detailed documentation concerning the settlement process of the given property. These documents clearly explain how the estate was valued by taking into account all its characteristics and variables. This process is followed through special standards, depending on the property and the reasons to appraise it, estate appraisals Baton Rouge follow the right one.

In relation to this, it may be suggested, that services from Baton Rouge estate appraisers provide amiable and effective estate appraisals. Baton Rouge home appraisals are important when settling estates simply because they serve as neutral mediators in the final settlement of a property’s value. This way, people involved will always get the fairest part of any estate left by someone. A good way to accomplish this process is to get the services of a certified local appraiser who clearly understands the area. In this case, Baton Rouge estate appraisers are the perfect choice when looking for home appraisals in this specific area.

In brief, estate appraisers in Baton Rouge have the knowledge, experience, and impartiality required to yield accurate estate settlements. Given the fact that they have nothing to gain or lose in any estate settlement process, all individuals involved in the process will obtain more benefits.

Biil Cobb, with Accurate Valuations Group, is Greater Baton Rouge’s Home Appraiser frequently called upon by banks, homeowners, and savvy real estate investors to assess home values. A home appraiser with 18 years experience, Bill Cobb brings a wealth of knowledge to the table as a home appraiser in East Baton Rouge Parish, West Baton Rouge Parish, Western Livingston Parish and Northern Ascension Parish.

Tags: Baton Rouge Appraisers, Baton Rouge Home Appraisers, Baton Rouge Housing Market, Baton Rouge Real Estate, Baton Rouge Real Estate Appraisers, Baton Rouge Estate Appraisers, Baton Rouge Estate Settlement Appraisers, Baton Rouge Estate Settlement Appraisals

This graph below indicates that the four Parishes that make up Greater Baton Rouge are in the 30 to 50% risk category, meaning that there’s a 30% to 50% chance of lower home prices in the next 2 years.

This chart below indicates that the actual Baton Rouge ranking is 40.5% risk category, meaning that there’s a 40.5% chance of lower home prices in the next 2 years.

This chart below indicates that in 2009, Baton Rouge had a lower chance of price appreciation and in 2010, there was more of a chance of price stability.

Sources:

http://www.pmi-us.com/PDF/q3_10_pmi_eret.html

http://www.pmi-us.com/PDF/q4_10_pmi_eret.html

http://www.pmi-us.com/media/pdf/products_programs/eret/ERET_Appendix_Q2_10.pdf

]]> http://www.batonrougerealestateappraisal.com/2010/11/baton-rouge-housing-trends-2010-pmi-study-shows-moderate-risk-40-percent-chance-of-home-price-declines/feed/ 0 http://www.batonrougerealestateappraisal.com/2010/11/baton-rouge-real-estate-appraisers-why-do-some-houses-sit-on-the-market-while-others-sell/ http://www.batonrougerealestateappraisal.com/2010/11/baton-rouge-real-estate-appraisers-why-do-some-houses-sit-on-the-market-while-others-sell/#comments Sat, 13 Nov 2010 10:38:59 +0000 Baton Rouge Real Estate Appraisal http://www.batonrougerealestateappraisal.com/baton-rouge-economic-news/baton-rouge-real-estate-appraisers-why-do-some-houses-sit-on-the-market-while-others-sell/ http://www.batonrougerealestateappraisal.com/ – Baton Rouge Real Estate Appraisers: Why do some houses sit on the market while others sell?

Here’s an interesting video by Jay Papasan, an executive of Keller Williams Realty. We see “Jay” on the month “This Month In Real Estate US: November 2010″ videos on YouTube. In this video, Mr. Papasan explains why some houses just sit there on the market while others sell, which is an appropriate topic for locals now that the expiration of the Federal tax credit means a lot homes locally are just sitting.

I thought his explanations were helpful explanations. The visual displays of these concepts of his x/y axis were helpful as well.

I’m curious to hear the experience of both home owners and real estate agents as to what if Mr. Papasan is explaining is reality locally? Any ideas on what it would take for homes to sell faster? Are locals just waiting for a bottom before buying or is there something more going on in their psyche – more of a concern about what’s taking in Washington, DC than a concern for the Baton Rouge economy maybe?

You can follow Jay Papasan on Twitter at @jaypapasan, and on Facebook @ http://www.facebook.com/jaypapasan . Mr. Papasan is also coauthor of The Millionaire Real Estate Agent, The Millionaire Real Estate Investor & SHIFT.

]]> http://www.batonrougerealestateappraisal.com/2010/11/baton-rouge-real-estate-appraisers-why-do-some-houses-sit-on-the-market-while-others-sell/feed/ 0 http://www.batonrougerealestateappraisal.com/2010/10/appraisers-in-baton-rouge-report-the-housing-numbers-wimbledon-estates-2010/ http://www.batonrougerealestateappraisal.com/2010/10/appraisers-in-baton-rouge-report-the-housing-numbers-wimbledon-estates-2010/#comments Fri, 08 Oct 2010 10:57:37 +0000 Baton Rouge Real Estate Appraisal http://www.batonrougerealestateappraisal.com/baton-rouge-appraisers/appraisers-in-baton-rouge-report-the-housing-numbers-wimbledon-estates-2010/ http://www.batonrougehomeappraisal.com/ – Appraisers In Baton Rouge Report The Housing Numbers: Wimbledon Estates 2010

Solds In Wimbledon Estates from 1/2010 to 10/08/2010 revealed:
Average Sales Price: $208,750 ($215,500 in 2009)
Average Sold Price Per Sq. Ft.: $95/sf ($99/sf in 2009)
Median Sold Price: $198,250 ($220,000 in 2009)
Number of Sales: 4
Average Number of Days On Market: 65
Low To High: $173,500 to $265,000
Number of Sold REO/Foreclosures Noted In MLS: 1
Current # Listings: 2, 0 Are Foreclosures
Current Listings Prices: $259,900 To $298,999

Data was used with the permission of the GBRAR MLS from search dates 1/1/2005 to 10/07/2010, extracted on 10/7/2010.

I recently completed a refinance appraisal assignment off Sharp Rd and witnessed a trend I wanted to bring your attention to. This is still the recovering Post Hurricane Gustav market of MLS Area 42, zip code 70815, generally Broadmoor and Sherwood Forest areas. I say Post Hurricane Gustav because Gustav’s damage in 9/2008 disrupted this housing market more than most realize. I believe the 2 weeks it took to restore utilities had a psychological impact on this market as home sales prices dipped, see chart below. Chart represents home sales from $100K to $300K in 70815 from 1/1/2007 to present.

As a home appraiser appraising in any local market that is now NOT always increasing every year as in prior years, it’s now crucial to know where the market has been, where it is now and where it might be in the future.

Cautions On Interpreting Market Data Post Federal Tax Credit Expiration. This post below illustrates that just because the Federal Tax Credit artificially elevated home sales and possibly home prices, doesn’t indicate an always favorable appraised value for your home. The word favorable is a favorable value in the home owner’s mind, not necessarily market reality. The areas listings inventories or homes for sale, has been building or increasing for months now while at the same time home sales have been slowing. This could be attributable to the national economy finally catching up with the local economy, more difficulty now in qualifying for a mortgage and/or the shift within the Greater Baton Rouge housing market toward more affordable housing, ie., closer to $100/sf versus $135/sf to $160/sf.

Appraisal Assignment: 38 year old 2,850sf living area home, 3 Bedroom, 2.5 Baths, off Sharp Rd in between Broadmoor and Sherwood Forest areas.

MLS Search Parameters

3 to 5 Bedroom Slab Homes in Area 42 Between $150,000 to $275,000, Zip Code 70815, 10/4/2008 to 10/7/2010, Ages 16-20 to Max Age, 2500sf to 3100sf.

Sold Results: Median Sales Prices!

Sold results indicate an increasing median sales price since 10/4/2008 of +11% and +7.5% over the past year.

Sold Results: Average Sold Price Per Sq. Ft.!

Sold results indicate an increasing average sold price per sq. ft. since 10/4/2008. In Broadmoor, the increase has been $4/sf or +5.3%. In Sherwood Forest, the increase has been $2/sf or +2.7%.

HOWEVER, The current market conditions, the Fannie Mae 1004MC or Market Conditions Form describes a different market condition THAT MUST BE ANALYZED AND RECONCILED BY THE APPRAISER.

COMPETING HOME SALES ARE DECLINING – From 18 to 3!

ABSORPTION RATE IS DECLINING – From 3 Sales Per Month Down To Just 1!

TOTAL COMPARABLE ACTIVE LISTINGS IS INCREASING – Inventory Is Growing!

MONTHS OF HOUSING SUPPLY IS INCREASING – FROM 5 TO 22!

NOTE: When the top right 4 boxes are checked for Declining, Declining, Increasing and Increasing, that’s not a good market indication!

Chart Showing Slowing Home Sales!

Conclusion.

When appraising local Greater Baton Rouge Homes, it’s important for both the appraiser and the homeowner to know that ALL market conditions are examined and reconciled to arrive at a value conclusion. In the above market examination, YES, the median sales prices and average sales prices per sq. ft. were increasing, but were also still recovering. If one examines the very first chart in this post, you’ll find that this market still hasn’t fully recovered to the $180K median sales prices of 2007/2008 prior to Gustav.

And, it’s very important to lenders underwriting the loan if there’s only 1 competing home per month selling resulting in a 22 month supply of competing housing, declining absorption rate (declining number of homes within the large inventory being removed from that inventory), increasing number of months on the market and increasing number of listings being added each month.

I do hope locals can now better understand part of the appraisal process. Home appraisals in 2010, with the newer 1004MC form and more and more requirements being added each month it seems, take much longer to complete now with much more investigation and reporting requirements.

REO OR FORECLOSURE RATE!

And, for those that would like to know to know the REO or Foreclosure rate for this assignment, the chart is below showing only 2 “MLS” foreclosures for homes 2500sf to 3100sf since 10/4/2008. There could have been several more take place outside of these 2 listed in MLS as many national lenders today choose not to list their REO inventories in the MLS anymore….up to 70%. In my report, I stated, ” It’s also stated here that a recent article (The Landmines Within by Michael Tarabotto http://activerain.com/blogsview/930436/The-Landmines-Within ) stated that as much as 70% of REOs never make it into the MLS – Meaning that it might be impossible to know or state the exact # of competing REOs if
they’re not being listed. MLS is reporting 2 comparable REO listings.”

Data was used with permission of the GBRMLS, search dates 1/1/2007 to 10/07/2010, extracted on 10/7/2010.

Solds In Ascot Subdivision from 1/2010 to 10/02/2010 revealed:
Average Sales Price: $204,483
Average Sold Price Per Sq. Ft.: $111/sf ( $115/sf in 2009 )
Median Sold Price: $199,950 ( $208,000 in in 2009 )
Number of Sales: 6 ( 7 Sales In 2009 )
Average Number of Days On Market: 56
Low To High: $175,000 to $248,000
Number of Sold REO/Foreclosures Noted In MLS: 0
Current MLS # Listings: 0, 0 Are Foreclosures

There is 1 FSBOBR.COM Listing for $234,500 for 2,330sf or $100.64, Click Below for more information on this home.

Data for this housing market report was used with permission of GBRAR MLS, search dates from 1/1/2005 to 10/02/2010, extraction data 10/02/2010.

]]> http://www.batonrougerealestateappraisal.com/2010/10/baton-rouge-housing-trends-ascot-subdivision-2010-market-report/feed/ 0 http://www.batonrougerealestateappraisal.com/2010/10/baton-rouge-housing-trends-greenwood-estates-2010-housing-update/ http://www.batonrougerealestateappraisal.com/2010/10/baton-rouge-housing-trends-greenwood-estates-2010-housing-update/#comments Sat, 02 Oct 2010 04:27:48 +0000 Baton Rouge Real Estate Appraisal http://www.batonrougerealestateappraisal.com/baton-rouge-real-estate-appraisal/baton-rouge-housing-trends-greenwood-estates-2010-housing-update/ http://www.batonrougerealestatebuzz.com/ – Baton Rouge Real Estate Buzz: Greenwood Estates 70811 2010 Housing Update!

Solds In Greenwood Estates from 1/2010 to 10/01/2010 revealed:
Average Sales Price: $107,375
Average Sold Price Per Sq. Ft.: $71/sf
Median Sold Price: $103,250
Number of Sales: 4
Average Number of Days On Market: 122
Low To High: $64,000 to $159,000
Number of Sold REO/Foreclosures Noted In MLS: 2
Current # Listings: 3, 0 Are Foreclosures
Current Listings Prices: $127,900 To $209,900

This data for this report was used with the permission of the GBRAR MLS from dates 1/1/2005 to 10/01/2010, extracted on 10/01/2010.

Solds In Westdale from 1/2010 to 9/28/2010 revealed:
Average Sales Price: $204,983
Average Sold Price Per Sq. Ft.: $128/sf
Median Sold Price: $194,450
Number of Sales: 6 (18 Total in 2009)
Average Number of Days On Market: 80
Low To High: $138,500 to $282,500
Number of Sold REO/Foreclosures Noted In MLS: 1
Current # Listings: 10, 2 Are Foreclosures
Current Listings Prices: $149,900 To $510,000

NOTE: When I refer to Westdale below, this includes Westdale, Westdale Heights, Westdale Woods and Westdale Terrace. From 1/1/2005 to 9/28/2010, there were 89 total sales from $121,600 to $685,000. The peak of the median sales price took place in September 2007 at $235,000. NOTE: The median sales price has increased by +4.89% since 9/2009.

This data was used with the permission of GBRAR, extracted on 9/28/2010 from 1/1/2005 through 9/28/2010.

Tags: Baton Rouge Estate Minute, Baton Rouge Home Appraisers, Baton Rouge Homes, Baton Rouge Housing, Baton Rouge Housing Market, Baton Rouge Real Estate, Baton Rouge Real Estate Agents, Baton Rouge Real Estate Appraisers, Baton Rouge Realtor, Baton Rouge Realtors

I recently completed this home appraisal on this Baton Rouge home marketed as a “Fixer Upper”! It was more than just a fixer upper as this home wasn’t inhabitable nor would the City issue an occupancy permit.

WHY I ALWAYS RECOMMEND A “PRE-LISTING APPRAISAL“: Agent stated Living Area Error of 149 square feet! This home was listed at an “even” 1,500 sq. ft., which indicated to this appraiser that the home probably wasn’t phyically measured. With a Pre-Listing Appraisal from this appraiser, your home will be properly measured as is the standard you should expect from a local real estate professional…No Exceptions!

]]> http://www.batonrougerealestateappraisal.com/2010/07/baton-rouge-real-estate-appraiser-photos-from-field-havent-seen-a-fixer-upper-this-bad-in-a-while/feed/ 0 http://www.batonrougerealestateappraisal.com/2010/06/greater-baton-rouge-fsbo-home-pre-listing-appraisals-video/ http://www.batonrougerealestateappraisal.com/2010/06/greater-baton-rouge-fsbo-home-pre-listing-appraisals-video/#comments Mon, 14 Jun 2010 12:56:07 +0000 Baton Rouge Real Estate Appraisal http://www.batonrougerealestateappraisal.com/baton-rouge-appraisers/greater-baton-rouge-fsbo-home-pre-listing-appraisals-video/ http://www.gbrprelistingappraisals.com/ – Greater Baton Rouge FSBO Home Pre Listing Appraisals VIDEO. Greater Baton Rouge For Sale By Owner Pre Listing Appraisals Video. Baton Rouge Listing Appraisals Video. Call 225-293-1500.

Welcome To The $100. 00 Greater Baton Rouge Comparable Sales Reports! Greater Baton Rouge Comparable Sales Reports Is A Desktop Appraisal Service Performed By William D. Cobb with Accurate Valuations Group, Serving East & West Baton Rouge Parish, Northern Ascension Parish and Western Livingston Parish. William Uses An Approved Fannie Mae & Freddie Mac Appraisal Form (SSDVR) To Complete This Report.

What Is An SSDVR Report? A desktop appraisal report conducted by Louisiana State Certified Appraiser, William D. Cobb, CREA, License #R0851. Bill will drive-by the home being appraised, rely upon the physical data the client provides, research the MLS database, select the 3 most similar and competitive sales/comps and render a value opinion.

From the GBRAR MLS Stats from 5/2009 to 5/2010 for new homes to 5 year old homes, extracted on 5/9/2010, the months supply of inventory appears to have declined from a 13 month supply in May 2009 to 3 months in April 2010. The median sold price in this period has been $283,000, average sold price $135/sf taking about 116 days to sell a home in Fairhill.

Tags: Baton Rouge Real Estate, Baton Rouge Real Estate Photos From The Field, Real Estate Baton Rouge, Fairhill At Bluebonnet, 70810, Baton Rouge Real Estate Buzz, Baton Rouge Real Estate Tube

Baton Rouge Home Appraiser, Bill Cobb, with Accurate Valuations Group, recently created a geographical competency map showing the main concentration of appraisal assignments since 2001.  Although Bill has been appraising homes since 1991, only the current data from 2001 forward was used for the map below.

CLICK TO ENLARGE

Housing Report

Drive Thru Tour

http://www.batonrougerealestateappraisal.com/

Baton Rouge Home Appraiser, Bill Cobb, Explains The Divorce Home Appraisal Process via Video.  If you have questions about ordering a local divorce appraisal in the Greater Baton Rouge area, please contact Accurate Valuations Group @ 225-293-1500.