This is 975 Louisiana Avenue, near Beauregard Town and the Baton Rouge Central Business District. I appraised this property in 2008 as a foreclosure when the condition was much less impressive. Property was sold through local Real Estate Agents, Jeff Furniss and Darry Gissel in 11/2008 for $70,000. 975 Louisiana Avenue is actally located in Young Subdivision, near Beauregard Town.

2011 AFTER PHOTO!

2008 BEFORE PHOTOS BELOW!

]]> http://www.batonrougerealestateappraisal.com/2011/03/amazing-beauregard-town-renovation-975-louisiana-avenue-before-and-after-photos/feed/ 0 http://www.batonrougerealestateappraisal.com/2011/02/baton-rouge-home-appraisal-blog-camerons-corner-offers-new-custom-townhomes-for-central-community/ http://www.batonrougerealestateappraisal.com/2011/02/baton-rouge-home-appraisal-blog-camerons-corner-offers-new-custom-townhomes-for-central-community/#comments Sat, 05 Feb 2011 13:34:05 +0000 Baton Rouge Real Estate Appraisal http://www.batonrougerealestateappraisal.com/baton-rouge-appraisers/baton-rouge-home-appraisal-blog-camerons-corner-offers-new-custom-townhomes-for-central-community/ http://www.batonrougerealestatebuzz.com/ – Baton Rouge Home Appraisal Blog: Cameron’s Corner Offers New Custom Townhomes For Central Community. These new units are great compliment to the Central Community!

As I was driving into Rambling Oaks Subdivision the other day, I noticed a new set of really nice Townhomes. I pulled into the development to see that the builder developer was Patterson Homes.

I contacted the Listing Agent, Treshur Jones @ 225-954-2460 to inquire about this new development. According to Treshur, “I am very pleased with the project and also think they are a great addition to the Central community!!” Also, Treshur stated, “2 are pending and I am currently waiting on the third contract right now. The HOA dues are now $800 for the year and that includes their insurance.”

There are 5 new townhomes ranging in living area sizes from 1,263sf, 1,383sf to 1,399sf listed from $145,900, $149,900, $159,000 and $164,900. The features are listed below from the GBRMLS sheets. From the online MLS photos, it appeared these were more upscale units with slab granite counters, upgraded appliances, really nice.

“GREAT ONE STORY TOWNHOMES IN THE HEART OF CENTRAL! HOMES HAVE OPEN FLOORPLANS WITH STAINLESS STEEL APPLIANCES & OIL RUBBED BRONZE FIXTURES. LARGE MASTER BEDROOM WITH LARGE CLOSET. MASTER BATH HAS DOUBLE SINKS. CONVENIENT COMPUTER NOOK. ENCLOSED GARAGE WITH PRIVATE COURTYARD ENTRANCE. PRIVACY FENCE IN BACK.”

These new units are great compliment to the Central Community! Bill Cobb, Appraiser

Tags: baton rouge for sale by owner, Baton Rouge Homes, Baton Rouge Housing, Baton Rouge Housing Market, Baton Rouge Real Estate, baton rouge real estate agent listings, Baton Rouge Real Estate Agents, Baton Rouge Real Estate Appraisers, Baton Rouge Real Estate Housing, Baton Rouge Real Estate Trends, Baton Rouge Real Estate Videos, Baton Rouge Realtor, Baton Rouge Realtors, Central City, Central La, Baton Rouge Townhomes, Central Community Townhomes, Patterson Homes

The East Baton Rouge Parish Residential Building Permit Data Through September 2010 has been released. See the results below for actual residential building permits less those permits issued for additions or remodeling projects. In 2008, there were a total of 693, in 2009 882 and in 2010 year-to-date, there have been 549 through September 2010. If this pace continues through 2010, there should be 732 permits issued, which will be better than 2008, but less than 2009.

RESIDENTIAL BUILDING PERMIT CHARTS FROM YEARS 2000 TO 2010 YEAR TO DATE. NOTE: Does Not Include Permits For Additions or Remodeling!

2010 EAST BATON ROUGE RESIDENTIAL BUILDING PERMIT CHARTS BY MONTH YEAR TO DATE. NOTE: Does Not Include Permits For Additions or Remodeling!

Active Listings On 10/1/2010: 4245

Pending Listings On 10/1/2010: 795

SOLDS

Sept 2010-407 (Decline of 172 or -30% Compared to 9/2009)

Sept 2009-579

Sept 2008-374 ( Hurricane Gustav Meant Less Closings )

Sept 2007-695

Sept 2006-841

Sept 2005-1763 (Hurricane Katrina Meant Increase In Sales)

Sept 2004-635

NOTE: These numbers are provided by Tony Zito with Zito Real Estate Group and used with the permission of GBRAR MLS. Search dates would be 9/1/2004 through 10/1/2010, extraction date 10/1/2010. Parishes include East Baton Rouge, Livingston and Ascension.

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/2010/09/baton-rouge-real-estate-appraisal-plantation-trace-2010-housing-report/feed/ 0 http://www.batonrougerealestateappraisal.com/2010/06/baton-rouge-real-estate-buzz-video-carrington-place-june-2010/ http://www.batonrougerealestateappraisal.com/2010/06/baton-rouge-real-estate-buzz-video-carrington-place-june-2010/#comments Wed, 16 Jun 2010 13:11:45 +0000 Baton Rouge Real Estate Appraisal http://www.batonrougerealestateappraisal.com/baton-rouge-appraisals/baton-rouge-real-estate-buzz-video-carrington-place-june-2010/ http://www.batonrougerealestatebuzz.com/ - Baton Rouge Real Estate Buzz Video: Carrington Place June 2010

Home To Be Listed With:

Ronald Julien & Associates, 1926 Wooddale Boulevard
Baton Rouge, LA 70806-1539
(225) 926-3475

Tags: West Baton Rouge, Port Allen, 70767, Homes For Sale, West Baton Rouge Foreclosures, Port Allen Foreclosures

Realtor.org is reporting that Baton Rouge Metro Area (Greater Baton Rouge) experienced a median sales price increase of +4.3% since Q1 2009. The article is here and the charting is below.

http://www.batonrougehomeappraisal.com/

I recently performed a “Pre-Listing” home appraisal in Baton Rouge’s Westdale Terrace and the homeowner was saying what a bad time in the local real estate market to be trying to sell a home. I was scratching my head wondering if this homeowner had been watching the CBS News and applying what’s taking place in the national housing market to the local Baton Rouge Real Estate market, which would be a mistake. So, on May 10, 2010, I ran the numbers in the GBRAR MLS based on similar slab homes in Zip Codes 70806 and 70808, 1400sf to 1800sf, 3 bedrooms and with a 3 miles of Westdale Terrace. The results are below.

What I found is that YES, the median sales price is down -3.62% since February 2009 when the median sales price was $191,957, now $185,000. However, since May 2009 when the median sales price was $176,000, the February 2010 median sales price is $185,000, which is a +5.1% increase! YES, the last competing sales in this market were in February 2010, which shows a “stable market” and / or slower home sales. Also, within Westdale Terrace, homes are remaining on the market longer, which could also be too high of priced listings.

Tags: Baton Rouge, Baton Rouge Real Estate, Real Estate Baton Rouge, 70808, Westdale Terrace, Baton Rouge FHA Appraisers, Baton Rouge Home Appraisers, Baton Rouge Real Estate Appraisers

A smooth transaction is one when one has accurately represented the physical characteristics(in writing) of one’s home , whether it be listing the home with an agent or selling it yourself(FSBO). “The main step is to acquire the accurate living area during the whole process of obtaining the accurate representation of one’s property”, says William D. Cobb, CREA who is the owner of Accurate Valuations Home Appraisal Group in Baton Rouge, Louisiana. An agent will enlist a CMA or Comparative Market Analysis for determining a home’s listing price. Still, one should have with them, a precise calculation of the living area.

Also, to be on the safer side, it would be a wise decision to have a third-party measure the living area and value of the property before one signs the Listing Agreement. A residential appraiser is the best option in this case.

This has the following advantages:

When an appraisal report is done in a professional manner, it leaves a good impression on the potential buyer as it supports the price quoted as well.

An appraisal generally includes photographs, location map, accurate sketch, precise dimensions, outline of the neighborhood etc. Also, 3 to 4 comparable sales must be present adjusted to subject property.

Enlisting recommendations for repair or enhancements, if any. This listing appraisal can indicate a value for addition(s), items that require repairs, etc..

Accurate estimation of Living-Area size lends peace of mind, especially with values @ $100/sf +

In U.S, majority of real estate professionals base the price per square foot of a home on living area size. Living Area is measured from the exterior walls. All real estate professionals are to follow the ANSI Standards for Single-Family Residential Buildings (American National Standards Institute) when calculating area home sizes. In a seminar in Apex Appraiser Home Sketching Software and National ANSI Standards in Houston, TX, the ANSI instructor, who is also on the Appraiser Standards Board in South Carolina, stated that one of the most common lawsuits in Real Estate today is “misrepresentation of living area size”.

Consider: A 2,000sf home is for sale, priced at $240,000. Instead of measuring the home, the living area was obtained by County Records; estimating the typical home size in that development. The home is listed with a living area of 2,000sf. A purchase agreement for $240,000 is received and is accepted. The appraisal is ordered by the buyer’s lender. The sellers submit an offer on a $350,000 home in a neighboring development. The offer is accepted. However, the appraiser for the home turns in her appraisal showing 1,840sf and an appraised value of $220,800, much less than the purchase price. The sellers are asked to renegotiate the purchase price as the living area is 1,840sf, and not the 2,000sf. The sellers sue for misrepresentation of living area.

Thus, it’s crucial to have one’s home measured by the person listing your home. It is strongly recommended that when interviewing the person listing your home, one must confirm that they follow ANSI, that they will measure your home, and provide you a calculated sketch. Thus, a written verification of true living area is present.

Bill states that he recently performed a purchase appraisal in a South Baton Rouge Subdivision on a 2,026sf living area, for $260,000, listed FSBO. The home was marketed WITHOUT obtaining a professional opinion on the value of the home. The buyers end up with $9,000 in equity as the home appraised at $269k. So, as against a loss of $9,000 the seller should have paid $225 to get the listing appraisal done.

An appraisal helps homeowners make the best decisions like investment in homes and setting a competent sales price. Thus it is strongly recommended to have a Listing Appraisal before one lists their home.

Accurate Valuations Group
Office: 225.293.1500
Fax: 1-866-663-6065

Wedgewood Subdivision Market Direction: Up or Down?

Solds In Wedgewood from 1/1/2009 to 12/31/2009 revealed:
Average Sales Price: $174,372
Average Sold Price Per Sq. Ft.: $89/sf
Median Sold Price: $173,250
Number of Sales: 18
Number of Sold REO/Foreclosures Noted In MLS: 1

Solds In Wedgewood from 1/1/2010 to 04/23/2010 reveals:
Average Sales Price: $183,250
Average Sold Price Per Sq. Ft.: $90/sf
Median Sold Price: $181,500
Number of Sales: 4
Number of Sold REO/Foreclosures Noted In MLS: 0

Therefore, based on the median sale price barometer within Wedgewood, the market direction appears to be increasing from $173,500 in 2009 to $181,500 into 2010 or +4.76%, but only based on 4 sales so far into 2010. The sold price per sq. ft. differences between 2009 and 2010 is approximately an increase of $1.07/sf. NOTE: The median sales price is the NAR’s barometer because it tends to eliminate the “outliers” in a market reporting periord. Outliers are those homes that sold unusually low or high based on an historical pattern.

NOTE: Based on Detached Single Family information from the Greater Baton Rouge Association of REALTORS\MLS. This information was extracted on 04/23/2010.

Wow, what a difference 6 months can make in a housing market. I appraised a home in Cottage Hill Subdivision 70809 in October 2009 and again in April 2010.

The differences in that housing market is like night and day. See Below!

Market Conditions Description in 10/2009:

Declining Market of -4.39% Since 10/2008. 28 Months Supply of Housing On
Market. 19 Competing Listings Does Indicate an Over-Supply (includes FSBO listings). 96% List-To-Sales Price Ratio. While comps 1-3 show 1-3
months marketing time, 28 Month Supply and an oversupply indicate over 6 months.

CLICK TO ENLARGE

Market Conditions Description in 4/2010:

Stable to Increasing Market of 8.49% Since 4/2009. 6.3 Months Supply of
Competing Housing On Market. 14 Competing Listings Does Indicate an Over-Supply (does not include FSBO’s). 97% List-To-Sales Price Ratio.

CLICK TO ENLARGE

NOTE: Based on Detached Single Family information from the Greater Baton Rouge Association of REALTORS\MLS for the period 10/01/2007 through 10/15/2009 versus 04/17/2008 to 04/17/2010. MLS Areas 53, 61 and 62, Slab Foundation, 2100sf to 2500sf, 6-10 to 16-20 Yrs old. This information was extracted on 10/15/2009 and 04/22/2010.

Tags: Baton Rouge Estate Appraisers, baton rouge homes, baton rouge housing, baton rouge real estate

CBS Money Watch is reporting on 4 Ways To Sell Your Home Faster! Click the blue link to read the article! Here’s a snippet:

“Home sellers, buckle up: Spring selling season is here, and it’s going to be a bumpy ride.

For now, the April 30 deadline for closing on a house to claim the home buyer tax credit is boosting sales. But with mortgage rates edging up, deals are fragile and lenders are on edge. “Last-minute glitches are holding up things far longer than we have ever seen before,” says Michael Onorato, president of the Illinois Association of Realtors.

Just because you have a real estate agent, that doesn’t mean you can sit back and let the pro sell your house. To get top dollar, you’ll need to take control of the relationship and micro-manage like nobody’s business. Follow these four steps to sell your house fast.“

The 4 Ways To Sell Your Baton Rouge Home Faster:

1.) Keep Your Agent on a Tight Leash

2.) Prove Your Home’s Value

3.) Get a Fair Appraisal

4.) Get Your Home Staged

The Advocate Newspaper and Chad Calder are reporting “BR-area home sales see gain in March“, click on the link to read the entire article. Below is a snippet:

“The number of homes sold in the Baton Rouge metro area rose slightly in March, though the first quarter was down 2 percent.

The March bright spot is largely due to an increase in Ascension Parish.

The figures, compiled by the Greater Baton Rouge Association of Realtors, account for about 85 percent of the market in the eight-parish area.

Realtors sold 600 homes in the metro area in March, 1 percent more than the 594 sold in the same month last year. Dollar volume in March was up 2 percent to $118.0 million.

The quarter, however, still reflects the downward trend that has characterized recent years. There were 1,406 homes sold during the first three months of the year, compared to 1,431 the year before.

Dollar volume was also down 2 percent to $270.3 million for the quarter.“

Back in early 2004, I released the “Reapptools” Home Appraiser Marketing Guide. Some of the readers of this blog purchased that guide. While the implementation HVCC has eliminated some of the marketing methods recommended in the guide, there was a section about the power of thank you notes and referral gifts. These generally included a thank you with a small very inexpensive Jim Rohn booklet on success. I received a thank you note with success type booklet recently from site sponsor, Lore DeAstra with Continental Appraisal and was reminded of the power of thank you notes.

What about that appraiser or home inspector that recently sent you a listing referral? What about that Attorney that recently sent you the listing referral? What about that family friend that referred your services to their neighbor? Did you take time to send them a thank you note? The point in the Reapptools guide was that thank you notes positively reinforce that behavior over and over again.

To help me make sure I follow through on sending thank you notes, I keep a stack within arms reach. That’s why I also bought my Dymo Label Writer 400 years ago so I could print an address label in a snap!

John Jones’ Tuesday Morning Coffee video today is about the power of thank you notes. John’s recommendations are that they be hand-written, sent within a couple of days of the kind gesture, reference the kind gesture (thank for the listing appraisal referral) and use the words “you” and eliminate “I” and “we”. Enjoy! Bill Cobb

I was appraising a home in University Gardens on Saturday and noticed a substantial amount of renovations projects taking place along with these two new homes under construction on corner lots back-to-back below. It appears the trend in this market is to stay put and renovate or add-on and renovate and/or demolish and build new.

Tags: baton rouge, baton rouge real estate, baton rouge real estate agents, baton rouge real estate appraisers, baton rouge real estate trends, baton rouge realtors, baton rouge garden district, lsu, baton rouge cbd

Their a new blog post on Active Rain by Bill Cherry describing the results recently published in the April Issue of Texas Realtor. Bill Cherry’s article is here! Here’s a snippet:

“

1.) 62% of home sellers only interviewed one agent before listing their home.

2.) 19% of home sellers talked to three agents before they selected one

3.) 22% were more interested in determining the list price that would make their home competitive than any other service a listing agent would provide.

4.) 1% thought professional designations were important when picking their agent. The other 99% didn’t see the value to be of consequence.

5.) 3% found picked their agent by walking in or calling a real estate office and speaking to the agent who had floor duty at the time they called.“

Tags: Baton Rouge Estate Appraisers, baton rouge homes, baton rouge housing, baton rouge real estate, baton rouge real estate agents, baton rouge real estate appraisers

Visit Baton Rouge Real Estate Buzz to search online for Baton Rouge Homes For Sale!

]]> http://www.batonrougerealestateappraisal.com/2010/03/online-search-for-greater-baton-rouge-homes-for-sale/feed/ 0 http://www.batonrougerealestateappraisal.com/2010/03/baton-rouge-real-estate-agents-video-of-how-to-turn-you-business-card-into-a-lead-generating-magnet/ http://www.batonrougerealestateappraisal.com/2010/03/baton-rouge-real-estate-agents-video-of-how-to-turn-you-business-card-into-a-lead-generating-magnet/#comments Tue, 23 Mar 2010 10:00:24 +0000 Baton Rouge Real Estate Appraisal http://www.batonrougerealestateappraisal.com/baton-rouge-real-estate/baton-rouge-real-estate-agents-video-of-how-to-turn-you-business-card-into-a-lead-generating-magnet/ http://www.batonrougerealestatebuzz.com/ – Baton Rouge Real Estate Agents: Video of How To Turn You Business Card Into A Lead Generating Magnet

Episode # 67: Michael Krisa shares a simple strategy that will easily make your business card generate more leads and more sales. The examples of what Michael uses are below:

For More Real Estate Video Tips, Click Below!

Tags: baton rouge real estate, baton rouge real estate agents, baton rouge real estate appraisers, baton rouge real estate trends, baton rouge realtors, East Baton Rouge, Estate Appraisers Baton Rouge, FHA Appraisers Baton Rouge, greater baton rouge real estate

Housing Market Direction: Up or Down?

Solds In Shenandoah Estates from 1/2007 to 12/2007 revealed:
Average Sales Price: $193,628
Average Sold Price Per Sq. Ft.: $93.62/sf
Median Sold Price: $190,000
Average Days On Market: 81
Number Of Sales: 91

Solds In Shenandoah Estates from 1/2008 to 12/2008 revealed:
Average Sales Price: $200,524
Average Sold Price Per Sq. Ft.: $89.68/sf
Median Sold Price: $205,000
Average Days On Market: 89
Number Of Sales: 68

Solds In Shenandoah Estates from 1/2009 to 12/2009 revealed:
Average Sales Price: $196,030
Average Sold Price Per Sq. Ft.: $89.48/sf
Median Sold Price: $196,500
Average Days On Market: 106
Number Of Sales: 62

Therefore, based on the “median sale price barometer” within Shenandoah Estates, the barometer used by the National Association of Realtors, the market direction increased from 2007 to 2008 but declined from 2008 into 2009. However, the 2009 median sales price at $196,500 is still higher than the 2007 $190,000. The gap between the high and low median sales prices was $15,000. The Aveage Sold Price Per Sq. Ft. only varied $4.14/sf within this 3 year period, which shows a fairly tight, supportive market.

For Your Greater Baton Rouge Home Apprasial Needs, Give Accurate Valuations Group A Call at 225-293-1500 or visit http://www.accuratevg.com/

http://www.batonrougerealestateappraisal.com/

The January 12-25, 2010 edition of the Baton Rouge Business Report arrived yesterday with an interesting article on the Top 10 Most Expensive Home Sales of 2009. The summary of the article was posted yesterday on the “Daily Report AM” email and reads as follows below. Click the “here” to read the entire article.

“The Baton Rouge housing market may be doing better than its counterparts in much of the country, but sales in the high-end segment were pretty dismal in 2009. There were half as many homes that sold in the $1 million and up range, compared with 2008. Read about the local market for high-priced houses — and about the area’s biggest business deals of 2009 — in the Business Report cover story here. Send comments to editors@businessreport.com.”

Here are some of the homes mentioned. The photo gallery of all 10 homes located at the bottom of the article.

Watch and Listen to Murfreesboro, TN Realtor & Broker, John C. Jones, explain the new RESPA Changes, the first changes to RESPA in 30 years!

J. Lamar Ferren has written an insightful article on how Olive Garden Restaurant can enhance your local Real Estate Business! The article is located here: Five Ways Olive Garden Can Enhance Your Real Estate Business.

Here’s a snippet:

“1. The “Right This Way” concept

In Olive Garden: When you first enter the Olive Garden, you are typically greeted by the host who calls on someone to seat you. Usually the person who seats you will say “Right This Way” as they lead off into the restaurant with you following behind them. I’ll be honest, I’m not a big fan of going into restaurants where I have to seat myself. It’s not that I can’t do it, it’s just that when the restaurant is crowded, it is usually tough to find a seat; especially if you have multiple guests. The person who seats you knows exactly where to go and can get you there quickly; it’s just easier if you follow them.

In Your Business: When a client sees your sign, your Craigslist ad, your flyer, etc., in order for them to click through to your site or pick up the phone and call you, they have to be given a “Call To Action”. Peter Kolat, a fellow BP blog contributor, actually goes into this concept a little more in depth. However, the main thing is to tell your clients exactly what you want them to do. For example, you could say, “Visit My Website Today” or “Pick up the phone and call me at 555-555-5555 right now.” Tell them exactly what you want them to do and if they’re interested, they will follow through. Don’t just assume that everyone who sees your advertisement, will know what to do next. You must guide them through the experience!

2. The “Give Them What They Want” concept

In Olive Garden: After you are seated, you are then greeted by your server, who eventually takes your order. You get the opportunity to read through the menu and choose exactly what you want. If you need more information about a certain dish or drink, your server will be available to answer any questions you may have. Once they’ve completed your order, they take it to the kitchen, where the meal is prepared. After the meal has been prepared, your server carries it out to you, and as you look at your entree, hopefully you notice that you have been given exactly what you wanted.

In Your Business: After a lead comes to your website, they expect to see something related to what your advertisement says. If your ad says I can buy your home in 7 days and your website has nothing to do with buying their home, they they will get ticked off and click the “X” button. Even if they pick up the phone and call you, they then expect to hear something related to the reason they dialed your number. If you can’t give them what they want, then it’s likely that you will be unable to convert them into a deal. The bottom line is that you need to give them a solution to their problem! You need to combine the “Right This Way” concept with the “Give Them What They Want” concept. Put this on your ad and your website because you want your client to go where you need them to go to get what they want, in order to continue on with your process.”

As a home appraiser, I often see this type of scenario: Homeowner wants that swimming pool in the backyard with a lot of nice landscaping. That’s human nature to want nice features with your home, an outlet to help alleviate the monotony and stress of daily living after a hard days work, especially since many of the residential developments today aren’t designed for quality of life amenities, such as with walking and biking paths and trails. However, with a home value of $250,000, a $60,000 investment could bring your cost basis to $310,000 in a $250,000 neighborhood or 24% more than the average home in your subdivision. Would that be wise? Not exactly. Read more below.

There’s 2 answers to the above question: Is It Wise To Invest $60,000 For A Pool and Landscaping On A $250,000 Home?

1.) If money is no object to you and you plan on living and enjoying that home for the rest of your life (not moving), then make that investment because a $50,000 IG Pool is rarely a wise investment. One exception could be a pool installation in a high-end development in the $500K to $1,000,000 range. But the question is for the $250K range. Realize that the market (buyers) don’t pay dollar-for-dollar for such improvements as IG Pools or Landscaping. My 18 years experience as a home appraiser has shown me consistently that the market pays between 15% to 33% of the original cost of these improvements, depending on how nice they are and prevalence of such neighborhood amenities. If you live in a 300 home subdivision and only 5 homes have pools, then the likelihood of your return is much lower. If you live in an older neighborhood where pools were once the amenity to own but are now being filled in with dirt, then that should help one make their decision. It seems that the new the home and neighborhood and the newer the Pool, the more value it adds. So, if you want to spend $50,000 on an upscale gunite pool and only get back maybe $7,500 when you sell, then make that investment knowing this about the market’s reaction to such an amenity and investment.

The Red Circles Represent IG Pools Installed – A High Prevalence Of IG Pools. Before Installing An IG Pool, Research To Find Out The Prevalence Of IG Pools In Your Neighborhood. It’s likely that the more pools, the more a buyer would be willing to pay for such an amenity.

2.) If your investment dollars are counted carefully and you don’t plan on living in that home for more than 3 to 10 years, then such an investment would probably not be wise.

In conclusion, a $60,000 investment on the outside of your home is rarely going to reward you with a dollar-for-dollar reward paid by the buyer at the time of sale. It’s a major over-improvement that “might” return 1/4th to 1/3rd of your original investment. It’s best to find out this answer from an appraiser than a pool salesperson…..Enough Said!

$50,000 Gunite In-Ground Swimming Pool

$10,000 In Newer Landscaping

So, You Might Ask, Where’s The Best Place To Invest Money In My Home For The Best Reward? Stay Tuned To Find Out More. Here’s A Hint: Place Little Reliance On Those Cost-Reward Guides That Tell You If You Invest $15,000 Adding A New Bathroom, Your Reward Will Be $30,000. Those Guides Are Written By The Same Industry That Wants To Add That New Bathroom To Your Home, not from the appraiser that exactly examines the market to determine the true value of such an improvement.

Author’s Bio:

Bill Cobb, CREA, is Greater Baton Rouge’s favorite and most reputable home appraiser frequently called upon by banks, homeowners, and savvy real estate investors to assess property values. A home appraiser with 18 years experience, Bill Cobb brings a wealth of knowledge to the table as a home appraiser.

Bill’s company, Accurate Valuations Home Appraisal 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

Staff Email: fastvalue2@cox.net

http://www.batonrougerealestateappraisal.com/

http://www.batonrougerealestateappraisal.com/

Justin Pierce has written an article on “12 Improvements That Didn’t Pay: Learn From These Rehab Mistakes” where he warns homeowners not to over-prove their homes. This article is certainly worth reading for locals as well. This appraiser also asked a similar question in a recent article on over improving your home: “Greater Baton Rouge Real Estate Question: Is It Wise To Invest $60,000 For A Pool and Landscaping For A $250,000 Home?”

Here’s a snippet:

“Here are the Big 12 ill Advised Home Improvements I Made

1.) Shower Jets: $1,600 – We didn’t have room to put a jetted tub in the master bath. So I had the bright idea to install shower jets instead.

2.) Marble Tile: $800 – We decided that we wanted to give the master bathroom a little sizzle. So we decided to go with full marble tile floor and surround. It cost us about $800 more that the original ceramic tile quote.

3.) Slate Sidewalk and Porch: $4,600 – Landscaping is always risky. We wanted to really give the house some curb appeal. It did look nice. I wouldn’t do it again.

4.) Sidewalk Removal: $950 – There was a cement walkway right down the middle of the yard. We didn’t like how it cut the yard in two. We had it removed.

5.) Redo the Path at the Side of the House: $800 – I won’t take any credit for this one. My partner got fixated on the side of the house. I told him to breath and let it go but when I came back from a trip I found that he’d ordered a new concrete path and grass in this area. The $800 is just the sidewalk.”

Bill Cobb, with Accurate Valuations Group, has launched “FHA Appraisers Baton Rouge Louisiana” blog. The “About” page of this blog says,

Thank you for visiting the “FHA Appraisers In East Baton Rouge Louisiana Blog”. This is a Baton Rouge FHA Real Estate Appraiser Blog Site of Bill Cobb, CREA, of Accurate Valuations Group!

Blog topics include local real estate market trends, appraisal-related issues, SMART Charting or Graphs documenting trends, ”photos from the field”, local interests, and anything Bill finds interesting – people, neighborhoods, coffee and events.

Bill Cobb, CREA is a real estate appraiser based in the Baton Rouge Market. He covers multiple Parishes (or Counties) in the Greater Baton Rouge Region and works for brokers, banks, governmental agencies, Real Estate Agents, attorneys, home owners, insurance agents and more. Beyond the appraisal business, Bill’s passions include building Online Video Business Cards, WordPress CMS Sites (Blogs), WordPress Video Sales Letters For Local Businesses, Embedding Video onto websites and blogs, building affiliate marketing campaigns, building the “BIG 3 In Social Media (Twitter, YouTube & Facebook”, shooting real estate videos for the Greater Baton Rouge Realty Visual Tours site, reading, local First Pentecostal Church, and spending time with family and friends. Vacations For Bill Are Behind A Computer Building Online Marketing Campaigns!

P.O. Box 40515
Baton Rouge, LA 70835
TEL: 225-293-1500
MOBILE: 225-953-0638
TOLL FREE: 1-888-678-3544
FAX: 1-866-663-6065
STAFF EMAIL: fastvalue2@cox.net
http://www.accuratevg.com

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