Baton Rouge Real Estate News

Baton Rouge Home Appraisers Provide January 2012 Market Report
http://www.batonrougerealestateappraisal.com/ - Baton Rouge Home Appraisers Provide January 2012 Market Report

In this Baton Rouge Housing updating, January 22-28, 2012 are reported for the eight (8) parish MSA including East Baton Rouge, Ascension, Livingston and West Baton with Iberville, East and West Feliciana and Pointe Coupee combined as “ALL”.
Other Greater Baton Rouge Housing Statistics January 22-28:
LISTINGS:
Total Current Listings: 5,035
Foreclosure Listings: 490 or 10% of total listings
3rd Party Active Listings: 330 or 7% of total listings
Short Sale Active or Potential SS Listings: 250 or 5% of total listings
SOLDS From 01/22/2012 – 01/28/2012:
Total Number of Solds: 65
Foreclosures Sold: 14 or 22% of Solds
3rd Party Solds: 8 or 12% of total solds
Short Sales Solds: 8 or 12% of total solds
Foreclosure, 3rd Party and Short Sales Solds: 30 or 46% of all solds
Low To High Sales Prices: $16,000 to $475,000
New Home Sales: 18 or 28% of all sales
East Baton Rouge MLS Area with most home sales: 43 with 9 sales
CUMULATIVE TOTALS FOR 2012Total Number of Sales: 290
ASCENSION: 65
EAST BATON ROUGE: 149
EAST FELICIANA: 0
LIVINGSTON: 59
IBERVILLE: 2
POINTE COUPEE: 8
WEST BATON ROUGE: 6
WEST FELICIANA: 1
Foreclosures Sold: 69 or 24% of Solds
3rd Party Solds: 33 or 11% of total solds
Short Sales Solds: 47 or 16% of total solds
Foreclosure, 3rd Party and Short Sales Solds: 149 or 51% of all solds
AVERAGE SALES PRICES FOR LOCAL PARISHES:
EAST BATON ROUGE: $192,043
ASCENSION: $190,747
LIVINGSTON: $144,439
OTHER: $158,993
MEDIAN SALES PRICES FOR LOCAL PARISHES:
EAST BATON ROUGE: $158,500
ASCENSION: $166,450
LIVINGSTON: $138,900
OTHER: $159,900
AVERAGE DAYS ON MARKET (CONTINUOUS):
EAST BATON ROUGE: 116
ASCENSION: 105
LIVINGSTON: 133
OTHER: 157
LISTING-TO-SALES PRICE RATIO (What Percent Below Listing Price Home Sell For):
EAST BATON ROUGE: 97%
ASCENSION: 99%
LIVINGSTON: 97%
OTHER: 92%
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Important Video: Foreclosure Mythbusting by John C. Jones
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OTHER NATIONAL AND LOCAL HOUSING NEWS:
December Existing-Home Sales Show Uptrend Investors With Cash Place Downward Pressure on Home Prices Rise In Home Sales Signifies Strengthening Market: Economists Weak December ends poor year for U.S. home building Housing Crisis to End in 2012 as Banks Loosen Credit Standards Absorption rates to improve across all property types in 2012 New mortgage originations drop 30% in November, loan delinquencies decline December plunge leaves East Baton Rouge building permits down 3.5% in 2011
Business Report Releases Baton Rouge’s 10 most expensive home sales of 2011
Juban Crossing Developer: Site work continues; deals with retailers in the works
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NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of 01/01/2012 to 01/28/2012. This information was extracted on 01/29/2012. Excludes Manufactured Housing.

Baton Rouge Home Appraiser Calls 2011 The Year Of Correction For Baton Rouge Housing!
Baton Rouge Home Appraiser Calls 2011 The Year Of Correction For Baton Rouge Housing!, See Below.
Baton Rouge Housing Reports Dot Com says,
2011: The Year Of Correction For East Baton Rouge Real Estate Prices .
See the complete report at the link above.
The well anticipated correction in local home prices, based on local incomes, the insane escalation of home prices after Hurricane Katrina, and the same housing euphoria that gripped our Nation from 2004 to 2007, has finally arrived. Despite the appearance of only a -2.13% decline, most of the 25 subdivisions examined belwo show far worse percentage declines indicating that for Baton Rouge Real Estate, 2011 was the anticipated “Year of Correction”!


NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of 01/01/2005 to 12/27/2011. This information was extracted on 12/27/2011. Statistics are based on total residential MLS sales reported to the GBRMLS as of 12/26/2011 6:01:00 PM

Greater Baton Rouge Real Estate News Video Resource: http://www.batonrougehousingreports.com/
Baton Rouge Real Estate News Video Resource: http://www.batonrougehousingreports.com/
Why Baton Rouge Housing Reports?
Because a home is the largest, most important investment most locals make in their lifetimes. Because of the importance of getting this decision right, housing market facts, trends and analysis are provided to help locals execute competent, informed home purchase or home selling decisions.
There’s a new Premier web video resource in Baton Rouge with a residential focus: Baton Rouge Housing Reports Dot Com. This site offers the good news in our market as well as the on-going correction, tips on what improvements really add value, local REALTOR® video update of the month, local real estate expert interviews, local remodeler’s tips, trends videos, monthly and quarterly reports, Top 150 Subivisions trends, current housing charts and stats, gbrmls stats, local NAR stats, special investigative series and a long list of local online resources. Visit Us for the scoop on local housing.
Baton Rouge Housing Reports Dot Com – Local Real Estate Professionals Providing Trends, Analysis & Tips Helping Locals Make Informed Housing Decisions!

Keywords: Baton Rouge Real Estate, Baton Rouge Homes, Baton Rouge Housing, East Baton Rouge, Greater Baton Rouge, Baton Rouge Realtors, Baton Rouge Real Estate Agents, Baton Rouge Homes For Sale, Baton Rouge Home Appraiser, Baton Rouge Home Appraisal

Thinking of Buying A Nicholson Lakes Home Get A Pre-Listing Appraisal First Don’t Overpay
http://www.gbrprepurchasehomeappraisals.com/ - Thinking of Buying A Nicholson Lakes Home Get A Pre-Listing Appraisal First Don’t Overpay.

Nicholson Lakes Subdivision has experienced substantial declines since the 2007 highs, from $193,000 and $131/sf down to $174,000 and $116/sf in 2011. If you are considering a Baton Rouge Real Estate Home Purchased in Nicholson Lakes, I would strongly recommend obtaining a pre-listing appraisal so you don’t overpay as there are homes listed as high as $130/sf, which will not appraise for near that amount now in 2011.
NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of 01/01/2007 to 12/03/2011. This information was extracted on 12/03/2011.

VIDEOS: What Are These Baton Rouge Vote For Amendment #1 To Stay Tax Free Signs About?
What Are These Baton Rouge Vote For Amendment #1 To Stay Tax Free Signs About?
The Louisiana REALTORS® Association is supporting a constitutional amendment on the November 19th ballot to prohibit any new real estate transfer taxes in the state.
A vote FOR Amendment #1 on November 19 will…
*Protect your home from double taxation. Most homeowners in Louisiana already pay property taxes. Transfer taxes are simply another tax on the same piece of property.
*Keep Louisiana free from additional taxes, especially those that unfairly target homeowners and homebuyers.
If approved by Louisiana voters, we believe this will be an extremely positive development for residential and commercial consumers of real estate – and good for the overall real estate market and economy in Louisiana.
Monitor this important initiative thoughout the fall at STAYTAXFREE.com. Browse the site for related news, background on the issue, answers to frequently asked questions, and learn how you can get involved.

Baton Rouge Real Estate Appraisal: Stick To New Paint and Carpet To Get Your Home Sold
Baton Rouge Real Estate Appraisal: Stick To New Paint and Carpet To Get Your Home Sold

A St. Petersburg Florida REALTOR® and Appraiser has some advice for Greater Baton Rouge Locals when it comes to sell their home in this 2011 market: Stick To New Paint and Carpet To Get Your Home Sold.
There’s a new article out entitled, “Low Appraisals Blamed for Scuttling Real Estate Deals“. In the article, the reason given for Low Appraisals is, “Appraisals routinely come in under the negotiated sales price, often driven down by the glut of foreclosed houses and short sales with rock-bottom prices.”.
THE POINT OF THE ARTICLE IS TO CAUTION ON SPENDING TOO MUCH ON RENOVATIONS TO HELP GET THE HOME SOLD!
In the article, the “Capetz” family invested an extra $11,000 on a new roof and air conditioner to help their home sell ($11,000 for a new roof and central heat and air is really cheap). In July, they accepted an offer of $142,000 only to have the home sale fall through because home appraisal came in at only $130,000.
GOOD ADVICE! Quoted from the article, “Frank Gregoire, that St. Petersburg FL and Appraiser who headed the Florida Real Estate Appraisal Board for eight years during the housing boom, advised sellers to stick with new paint and carpet.
“If you make a major improvement, you should expect to enjoy that improvement. Don’t treat it as an investment,” he said. “It’s unlikely you’ll get what you paid for it.”
How Does This Apply To The Baton Rouge Housing Market? First, we’re talking about the under $150,000 market. Baton Rouge Housing Market doesn’t face near the number of foreclosures or short sales as in Florida. However, with that said, one (1) issue I see in Baton Rouge Housing is overimproved homes, thanks partially to HGTV. Example: A $95,000 home in a first time homebuyer starter neighborhood with $5,000 in Slab Granite Counters. Or, in the photo below, a $160,000+/- local economy home with an elaborate approximate $10,000 Kitchen Slab Granite Plus Tile Backsplash Upgrade of which the market still hasn’t chosen to pay for.

HGTV Ruined Some Homeowners! Since the early 2000′s, with easy credit and HGTV, some locals went overboard on overimproving their homes on items that the market didn’t reward them for at the time of resale. Instead of keeping their homes at the quality of construction levels typical in their subdivision, they chose to invest $15,000 to $50,000 above that level and thus overimprove on items that the market wouldn’t reward dollar-for-dollar on at resale time.
The Point Of This Baton Rouge Home Appraisal Article: When Updating Your Home for a listing, pay attention to your price range, what other homes in your subdivision have in terms of quality and mirror those homes and features. While Slab Granite Counters certainly help a home sell, they are not common nor a wise investment for homes under $150,000. If your home needs a new roof because it’s old and for the seller’s appraisal to pass and qualify for an FHA or RD financing, then that might be a wise purchase, which might not return dollar-for-dollar. It might be wise to stick with just new paint and carpet and if listings feedback says do more updates, then you can proceed further. And, if you need a Pre-Listing Appraisal to help properly and accurately price your home, visit: http://gbrprelistingappraisals.com/
NOTE: Frank Gregoire is a friend and Appraiser Peer of mine. Frank writes the “Appraiser Active Blog” and enjoys the leisure life as an Appraiser along with Florida Coast with his wife, Fran. And, Frank likes to rub this in on Facebook weekly about how spoiled he is to live, play and work in paradise!
Author: Bill Cobb with Accurate Valuations Group (Greater Baton Rouge Home Appraisals).
Image Source: Top Image Purchased @ Bigstockphoto.com

Baton Rouge Real Estate Under $150K: Stick To New Paint and Carpet To Get Your Home Sold
Baton Rouge Real Estate Under $150,000: Stick To New Paint and Carpet To Get Your Home Sold

A St. Petersburg Florida REALTOR® and Appraiser has some advice for Greater Baton Rouge Locals when it comes to sell their home in this 2011 market: Stick To New Paint and Carpet To Get Your Home Sold.
There’s a new article out entitled, “Low Appraisals Blamed for Scuttling Real Estate Deals“. In the article, the reason given for Low Appraisals is, “Appraisals routinely come in under the negotiated sales price, often driven down by the glut of foreclosed houses and short sales with rock-bottom prices.”.
THE POINT OF THE ARTICLE IS TO CAUTION ON SPENDING TOO MUCH ON RENOVATIONS TO HELP GET THE HOME SOLD!
In the article, the “Capetz” family invested an extra $11,000 on a new roof and air conditioner to help their home sell ($11,000 for a new roof and central heat and air is really cheap). In July, they accepted an offer of $142,000 only to have the home sale fall through because home appraisal came in at only $130,000.
GOOD ADVICE! Quoted from the article, “Frank Gregoire, that St. Petersburg FL and Appraiser who headed the Florida Real Estate Appraisal Board for eight years during the housing boom, advised sellers to stick with new paint and carpet.
“If you make a major improvement, you should expect to enjoy that improvement. Don’t treat it as an investment,” he said. “It’s unlikely you’ll get what you paid for it.”
How Does This Apply To The Baton Rouge Housing Market? First, we’re talking about the under $150,000 market. Baton Rouge Housing Market doesn’t face near the number of foreclosures or short sales as in Florida. However, with that said, one (1) issue I see in Baton Rouge Housing is overimproved homes, thanks partially to HGTV. Example: A $95,000 home in a first time homebuyer starter neighborhood with $5,000 in Slab Granite Counters. Or, in the photo below, a $160,000+/- local economy home with an elaborate approximate $10,000 Kitchen Slab Granite Plus Tile Backsplash Upgrade of which the market still hasn’t chosen to pay for.

HGTV Ruined Some Homeowners! Since the early 2000′s, with easy credit and HGTV, some locals went overboard on overimproving their homes on items that the market didn’t reward them for at the time of resale. Instead of keeping their homes at the quality of construction levels typical in their subdivision, they chose to invest $15,000 to $50,000 above that level and thus overimprove on items that the market wouldn’t reward dollar-for-dollar on at resale time.
The Point Of This Baton Rouge Home Appraisal Article: When Updating Your Home for a listing, pay attention to your price range, what other homes in your subdivision have in terms of quality and mirror those homes and features. While Slab Granite Counters certainly help a home sell, they are not common nor a wise investment for homes under $150,000. If your home needs a new roof because it’s old and for the seller’s appraisal to pass and qualify for an FHA or RD financing, then that might be a wise purchase, which might not return dollar-for-dollar. It might be wise to stick with just new paint and carpet and if listings feedback says do more updates, then you can proceed further.
NOTE: Frank Gregoire is a friend and Appraiser Peer of mine. Frank writes the “Appraiser Active Blog” and enjoys the leisure life as an Appraiser along with Florida Coast with his wife, Fran. And, Frank likes to rub this in on Facebook weekly about how spoiled he is to live, play and work in paradise!
Author: Bill Cobb with Accurate Valuations Group (Greater Baton Rouge Home Appraisals).
Image Source: Top Image Purchased @ Bigstockphoto.com

Baton Rouge Neighborhoods: Shenandoah Estates Home Prices Correct -4.4% YTD in 2011
http://www.batonrougerealestateappraisal.com/ – Baton Rouge Neighborhoods: Shenandoah Estates Home Prices Correct -4.4% YTD in 2011

Correcting Average Sold Price Per Square Foot. An analysis of Shenandoah home sales prices from 2010 versus 2011 Year-To-Date shows a -4.4% decline or correction. In 2010, there were 46 total sales with an average sales price of $92.61/sf. In 2011 YTD, there has been 41 total sales with an average sales price of $88.55/sf, which calculates to a -4.4% loss. However, at $88.55/sf, this is only close to $1.00 off the 2006, 2008 and 2009 support levels. AND, with those homes set to close from summer buying season, the 2011 numbers could improve.
Correcting Average Sold Price and Median Sold Prices. These two (2) charts below show a fairly strong correction in sold prices since 2009 and September 2010. However, Shenandoah Estates is one of the largest subdivisions in Baton Rouge with varying sizes of homes. It did appear from analysis that more of the smaller homes sold in 2011 than in 2010 contributing to the visual declines below. No, I don’t believe it’s at all possible for declines of -19% since September 2010 as the median sold price chart shows. This is why I place the Average Sold Price Per Sq. Ft. chart above first in the series.


NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of January 1, 2006 to September 13, 2011. This information was extracted on 09/13/2011. YES, this appraiser does have the permission of GBRMLS to use the chart above Subdivision Price Trends Report!
Author: Bill Cobb with Greater Baton Rouge’s Accurate Valuations Home Appraisal Group


Baton Rouge Home Prices: Sherwood Forest Corrects Down To 2005 Support
http://www.baton-rouge-real-estate.com/ – Baton Rouge Home Prices: Sherwood Forest Corrects Down To 2005 Support


The GBRMLS Trends chart below shows a substantial home price correction taking place within Baton Rouge’s Sherwood Forest Subdivision. The Average Sold Price Per Square Foot has declined from $80.66/sf in 2007 down to $68.61/sf in 2011, back to 2005 levels and a -15% correction. The Median Sold Price has declined from $181,000 in 2010 down to just $165,500 in 2011, a -9% correction (rounded). Some of this recent decline is due to foreclosure activity. And, the reason the chart shows a dip in 2009 to $165,000 was due to the devastating impact of Hurricane Gustav on this heavily treed neighborhood. In fact, there are still some homes that were renovated in 2009, after Hurricane Gustav in 2008, that are still on the market and haven’t yet sold.

NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of January 1, 2005 to August 23, 2011. This information was extracted on 8/23/2011. YES, permission was granted by GBRMLS to use Subdivision Price Trends Chart Report!

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/









Author: Bill Cobb, Appraiser with