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Greater Baton Rouge Economic News
2010 Comprehensive Greater Baton Rouge Foreclosure Numbers And Charts Released
10/17/2010 | 
Author http://www.batonrougerealestatetrends.net/ – 2010 Comprehensive Greater Baton Rouge Foreclosure Numbers and Charts Released
East Baton Rouge Foreclosure Trends: East Baton Rouge 2009 2010 Foreclosure Sales Numbers! 2010 Foreclosures total 12% of sales YTD; 2009 Foreclosures totaled 11%. 7% of all EBR MLS Listings are Foreclosures! Foreclosures are negatively impacting this market.
Where Are The 2010 East Baton Rouge Foreclosures Concentrated?
AREA 11 FORECLOSURES, Primarily Baker. In Area 11 in 2010, there have been 33 solds in Baker and 13 in Zachary. In 2009 and 2010, the Baker market has experienced a significant amount of fore closure activity as it was one of the markets where real estate investors flipped houses at high prices to post Hurricane Katrina buyers. Fore closure activity is cyclical in the Baker market, just as it is in the other troubled lower priced markets in Areas 31, 41 and 53. So, the fact that Baker is a higher than average REO market is no surprise to this appraiser.
In Baker, the subdivisions experiencing the higher percentage of fore closure sales were Baker Estates, Baker Heights, Baker Hills, Baker Lots & Acres and Brown Heights. In Zachary, the subdivisions experiencing the higher percentage of fore closure sales were Oak Shadows, Castle Place, Deer Park and The Cottages AT Blue Heron Lakes – those expensive town homes, expensive for the Zachary market.
AREA 31 FORECLOSURES (70802 & 70805). In Area 31 since 2008, there has been a significant amount of fore closure activity in the 30%+ of total sales range as it was one of the markets where real estate investors flipped houses at high prices to post Hurricane Katrina buyers.
AREA 41 FORECLOSURES (Park Forest Area). In Area 41 since 2008, there has been a significant amount of fore closure activity broadly throughout this market. In Area 41, the subdivisions experiencing the higher percentage of fore closure sales were Forest Oaks, Park Forest, Park Forest East, Villa Del Rey (9 reo sales in 2010) and Windsor Place.
AREA 43 FORECLOSURES (Some Surprises). A higher fore closure rate in Area 43 is an example of how this is a different market downturn than in the 1980s and 1990s. In this downturn after the mortgage meltdown, the fore closure activity AND FUTURE LOCAL FORECLOSURE ACTIVITY are located in ALL income brackets throughout all of Greater Baton Rouge. Hurricane Katrina may have been a blessing for sellers in 2005 and 2006, but some of the resales at lower than purchased prices and some of the resulting fore closures are a part of the 12% REO solds rate for EBRP.
In Area 43, the subdivisions experiencing the higher percentage of fore closure sales were High Point, Lake At White Oak (a surprise, higher priced homes), O’Neal Place (no surprise), Old Jefferson (no surprise), Shenandoah (a surprise) and higher priced Condos in Windsor Village (no surprise in the over supplied Baton Rouge Condo market and some of these condos were marketed to and sold to California investors who are now giving these back to the the banks possibly because of challenges with the California market now).
AREA 53 FORECLOSURES (1 Surprise – University Club). In Area 53 since 2008, there has been a significant amount of fore closure activity broadly throughout this market. In Area 53, the subdivisions experiencing the higher percentage of fore closure sales were Hermitage, Mayfair Park, Perkins Village, University Club Plantation (3 and very higher end homes), and Village St George.
Ascension Parish Foreclosure Trends: 2009 2010 Foreclosure Sales Numbers! 2010 Foreclosures total 7% of sales YTD; 2009 Foreclosures totaled 6%, an increase of +1% since 2009. 5% of all Ascension MLS Listings are Foreclosures! Foreclosures are only moderately impacting this market.
Where Are The 2010 Ascension Parish Foreclosures Concentrated?
AREAS 90-92 2010 FORECLOSURES. In 2010, there have been 68 solds. The vast majority of these foreclosure solds were “Rural” properties (10). In restricted subdivisions, foreclosures of note were in Ascension Trace (2), Autumn Woods (2), Lakes At Dutchtown (2), Manchac Harbor (2), Oak Terrace (3) and Porte Cochere (3).
Above $200,000, Both Solds and Current Listings. The number of 2010 foreclosures that sold above $200,000 has been 19 or 28%. Out of the 46 total REO MLS listings, there are 16 current listings above $200,000 or 35%.
Above $300,000, Both Solds and Current Listings. The number of 2010 foreclosures that sold above $300,000 has been 8 or 12%. Out of the 46 total REO MLS listings, there are 3 current listings above $300,000 or 7%.
Livingston Parish Foreclosure Trends: 2009 2010 Foreclosure Sales Numbers! 2010 Foreclosures total 13% of sales YTD; 2009 Foreclosures totaled 9%, an increase of +2% since 2009. 7% of all Livingston MLS Listings are Foreclosures! Foreclosures are negatively impacting this market.
Where Are The 2010 Livingston Parish Foreclosures Concentrated?
AREA 80 2010 FORECLOSURES. In Area 80 in 2010, there have been 17 solds. The vast majority of these foreclosure solds were “Rural” properties and 3 in Three Rivers Island.
AREA 81 2010 FORECLOSURES. In Area 81 in 2010, there have been 51 solds. These foreclosures were concentrated in Acadiana Place, Easterly Lakes, Gravesbriar, Hidden Oaks Condos, Linda Lee, Richmond Place, Watson Little Farms, Wisteria Place and Wolf Creek Place. Wisteria Place is no surprise to this appraiser for a development which has experienced marketing challenges since the beginning.
AREA 82 2010 FORECLOSURES. In Area 82 in 2010, there have been 21 solds. The vast majority of these foreclosure solds were “Rural” properties and 2 in Spring Lake. There were 1 each in Lakes at Fennwood, Lakeview Acres, Live Oak Landing, North Walker Estates, Park Place, Peaks Crossing, Shalimar and Tall Oaks.
AREA 83 2010 FORECLOSURES. In Area 83 in 2010, there have been 24 solds. These foreclosures were concentrated in Forest Ridge, Plantation Park, South Point, Westminister Estates and Woodland Crossing. There were 1 each in Carter Hills, The Cove, Falconcrest, Quail Run Acres, South Haven and Stone Hill.
West Baton Rouge Parish Foreclosure Trends: 2009 2010 Foreclosure Sales Numbers! 2010 Foreclosures total 7% of sales YTD; 2009 Foreclosures totaled 5%, an increase of +2% since 2009. 4% of all MLS Listings are Foreclosures! Foreclosures are only moderately impacting this market.
There’s A Major “Caveat” with the numbers below! It’s also stated here that an 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 and that the foreclosure problem could be larger if up to 70% of REOs aren’t being listed.
REO is “Real Estate Owned”!
Data used with permission of the GBRMLS. Search dates are 1/1/2009 to 10/16/2010. Extraction date was 10/16/2010.
Posted in Baton Rouge Real Estate, Foreclosure Trends, Greater Baton Rouge Economic News, Greater Baton Rouge Real Estate News, Greater Baton Rouge Subdivision Video Tours, Real Estate Baton Rouge | 
Tags: Baker Estates, Baker Heights, Baker Hills, Blue Heron, Castle Place, Closure Activity, Deer Park, East Baton Rouge, Foreclosure Sales, Forest Area, Greater Baton Rouge, Heron, Heron Lakes, Hurricane Katrina, Mls Listings, Park Forest, Real Estate Investors, Sales Numbers, Solds, Zachary | 
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Ascension Parish Foreclosure Trends: 2010 Foreclosures Total 7 Percent Of Sales
http://www.ascensionrealestateappraisers.com/ – Ascension Parish Foreclosure Trends: 2009 2010 Foreclosure Sales Numbers! 2010 Foreclosures total 7% of sales YTD; 2009 Foreclosures totaled 6%, an increase of +1% since 2009. 5% of all Ascension MLS Listings are Foreclosures! Foreclosures are only moderately negatively impacting this market. There’s A Major “Caveat” with the numbers below!
The chart below represents the number of recorded Ascension Parish REO or Foreclosure Sales within the Greater Baton Rouge MLS as of 10/16/2010, with the exception of Manufactured Housing sales. GBRMLS Areas for Ascension Parish are 90, 91 and 92.
Let’s put these foreclosure numbers into perspective! In 2009, there were a total of 1,242 sales. 78 foreclosure sales in 2009 represents only 6% of total sales. In 2010, there have been a total of 983 sales. 68 foreclosure sales in 2010 as of 10/16/2010 represents only 7% of total sales. The projected number of reo / fore closures at end of 2010 is approximately 89.
There’s A Major “Caveat” with the numbers below! Based on a 7% REO sold rate, which does appear to be an indication REOs are only moderately negatively impacting this market. It’s also stated here that an 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 and that the foreclosure problem could be larger if up to 70% of REOs aren’t being listed. MLS is reporting 46 current REO listings for all Ascension MLS Areas out of a total 951 total listings. So, 5% of all Ascension MLS Listings are Foreclosures!
REO is “Real Estate Owned”!
Data used with permission of the GBRMLS. Search dates are 1/1/2009 to 10/16/2010. Extraction date was 10/16/2010.
Posted in Ascension Parish Real Estate News, Baton Rouge Real Estate, Foreclosure Trends, Greater Baton Rouge Economic News, Greater Baton Rouge Real Estate News, Real Estate Baton Rouge | Tags: Activerain, ascension parish foreclosures, Caveat, Fore Closures, Foreclosure Sales, Foreclosures, Greater Baton Rouge, Landmines, Manufactured Housing Sales, Mls Areas, Mls Listings, Perspective, Real Estate, Reo, Sales Numbers, Search Dates | No Comments »
Baton Rouge Area 2010 Home Sales Down 25% From September 2009, Detailed Report
http://www.batonrougerealestatetrends.net/ – Greater Baton Rouge Area GBRMLS Monthly Observations for September 2010. Baton Rouge Area Real Estate 2010 Home Sales Down 25% From September 2009 on a September 2009 versus September 2010 comparison! Area homes sales are down 3.6% for the year!
Home sales in September continued to decline, declining 3% to $89,770,774 in September from August’s $92,501,330. This is a decline of 18% from last September, at $116,614,434. As we head into the seasonally weaker part of the year, it is distressing to point out that this is the worst sales level for September in the last 8 years by a large margin with the exception of September 2008 and that decline was only due to Hurricane Gustav interfering with loan closings. Source: Baton Rouge Trends Dot Com.
NOTE: This report, with the paragraph above, may be different that others recent reports because I have included “Other” MLS areas.
Area Home Sales Down 3.6% For The Year! According to the Baton Rouge Business Report Weekly, area home sales are down 3.6%! Home Sales Down 3.6% For The First 9 Months of 2010% for the first 9 months of the year. A short snippet is provided below. The link to their article is here!
Capital Region home sales are down 3.6% for the first nine months of the year, when compared with 2009 figures. There have been 5,052 houses sold through September, according to statistics from the Greater Baton Rouge Association of Realtors’ Multiple Listing Service. Through September 2009, there were 5,241 MLS sales. Average sale prices were virtually unchanged, coming in at $193,264 through September 2009 and $193,599 this year”
NOTE: This report, from this section below, may be different that others recent reports because I have included “West Baton Rouge” MLS Area 70, not just the 3 Parish areas of East Baton Rouge, Ascension and Livingston.
Total Sales Unchanged, But Off 25% From September 2009. Total unit sales were unchanged at 441 in September and 441 in August. However, this is a 25% reduction from September 2009 at 587. Of the 441 September sales, 104 were new homes and 337 were existing homes. New home sales improved 7% to 104 homes this month from 97 in August, an increase of 7 units. Existing home sales declined slightly from 337 homes in September from 346 last month, a difference of 9 homes or -2.6%. NOTE: Based on all price ranges within ASC, EBR, LIV and WBR for Property Types: DSF, ASF, PRC and PRA.
Majority of GBR Home Sales Under $200,000. Of the 441 September sales, only 22 of them were over $400,000 or approximately 5% of the market. There were 288 sales under $200,000 or 65% of market. And, there were 105 sales between $200,000 to $300,000 or approximately 24% of market.
Inventory Decreased Slightly. Inventory decreased slightly from August 2010 at 4461 to 4369 in September, a decrease of 92 or -2%. However, the inventory has increased from 3974 in September 2009 to 4369 in September 2010, an increase of 395 homes or +10%. Inventory started January 2010 at 3,583 and has continued to rise for most of 2010 with August of 4,461 being the highest inventory level of 2010.
Absorption Rate Improved Slightly. Absorption for All homes in September showed 9.9 Months Inventory, which was a slight improvement from August 2010 showing 10.1 months of supply. This is much worse than the 6.8 months of supply last year at this time. Greater Baton Rouge area Average Days on Market for All homes was 89 compared to last month at 85. Average sales price for All Sold homes decreased to $194,941 from $199,289 last month. However, in January 2010, the average sales price was $188,188, so the average sales price has increased in 2010. Median sales price for All Sold homes decreased to $169,900 from $171,750 last month. However, in January 2010, the median sales price was $165,000, so the median sales price has increased overall for 2010. The twelve month moving median price line for both New and Existing homes is heading upward, reflecting stable home price support.
High End Homes Market Appears Near Solid Support, Most Solid Within East Baton Rouge Parish. From 9/1/08 to 9/30/09, MLS reports 298 sales versus 294 sales 9/1/09 to 9/30/10, which is only a decrease of -4 sales or -1.3%. Average Sold Price for the 2009/2010 period is $539,650 compared to $548,036 for the 2008/2009 period. Median Sold Price for the 2009/2010 period is $500,000 compared to $495,700 for the 2008/2009 period. Average sold price per sq. ft. is $157.89/sf versus $159.43/sf for the 2008/2009 period. Average days on the market is 122 days versus 140 days in the 2008/2009 period. So, while the average sold price per sq. ft. is down $1.54/sf, and average sold price is down approx. $8,400, the median sales price has increased by $4,300 and the days on the market has improved.
Yes, There Are Certainly Exceptions! Copper Mill in Zachary is one example where the average sold prices were $161/sf in 2007, $158/sf in 2008, $157/sf in 2009 and $147/sf in 2010 based on 13 sales. That’s a $10/sf drop since 2009. Plus, the days on the market for the 13 sales were: 336, 850, 20, 274, 4, 393, 252, 1082, 50, 344, 197, 54 and 2. Renaissance in Prairieville is another example where the average sold prices were $137/sf in 2007, $141/sf in 2008, $133/sf in 2009 and $129.24/sf in 2010 based on 7 sales. That’s a -$4/sf difference between 2009 and 2010. And, MLS reports the average days on the market were 417 in 2009 and 252 in 2010. Actually, upon closer examination of total days on market, the actual continuous days on market were: 231, 1, 4, 561, 692, 1025 and 302. Greystone Golf in Denham Springs has only had 2 sales in 2010 averaging $142/sf and 6 sales in 2009 averaging $146/sf, a $4/sf decline. NOTE: For this paragraph, this includes all price ranges within these high end subdivisions.
High End Homes Market Absorption Rate Appears To Be Improving! The numbers of high end home listings has declined just slightly from 445 for September 2009 and 424 for September 2010. In September 2009, the Months Inventory showed 23.42 months. In September 2010, the Months Inventory showed 21.2 months and in August 2010 it was 19.4 months. Certainly, the market for homes requiring “Jumbo” loans remains slower in the overall Greater Baton Rouge market.
High End Homes Market NOTE: Parameters were $400,000 to $1,000,000, all price ranges within ASC, EBR, LIV and WBR for Property Types: DSF, ASF, PRC and PRA.
NOTE: Data For The September 2010 GBRAR MLS Report is used with permission of the GBRMLS from dates stated above and from 1/1/2008 through 9/30/2010.
Posted in Baton Rouge Housing Market, Baton Rouge Pre-Listing Appraisals, Greater Baton Rouge Economic News, Greater Baton Rouge Real Estate News, Greater Baton Rouge Subdivision Video Tours | Tags: 8 Years, Ascension, Asf, Association Of Realtors, Baton Rouge Area, Business Report, Comparison Area, East Baton Rouge, Existing Home Sales, First 9 Months, First Nine Months, Greater Baton Rouge, Hurricane Gustav, Last September, Liv, Loan Closings, Mls Area, Mls Areas, Mls Sales, Months Of The Year, Multiple Listing Service, New Homes, Paragraph, Pra, Prc, Realtors Multiple Listing, Realtors Multiple Listing Service, S 92, Wbr, West Baton Rouge | No Comments »
Greater Baton Rouge Housing Statistics: Central’s The Northwoods Subdivision 2010
http://www.batonrougerealestatetrends.net/ – Greater Baton Rouge Housing Statistics: Central’s The Northwoods Subdivision 2010
Solds In The Northwoods from 1/2010 to 10/07/2010 revealed:
Average Sales Price: $221,617 ($155,288 in 2009)
Average Sold Price Per Sq. Ft.: $107/sf ($107/sf in 2009)
Median Sold Price: $226,950 ($148,450 in 2009)
Number of Sales: 3 (8 in 2009)
Average Number of Days On Market: 86
Low To High: $208,000 to $229,900
Number of Sold REO/Foreclosures Noted In MLS: 0
Current # Listings: 5, 1 Foreclosure
Current Listings Prices: $121,900 To $215,000
NOTE: The Northwoods is a difficult market to report in terms of the broad range of home sizes, styles and price ranges. For example, the current listings are from $121,900 up to $215,000, a gap of $93,000, which is quite unusual. As is the median sales price in 2009 being $148,450 and then in 2010 being $226,950. This isn’t necessarily because home values have increased but rather because 3 of the larger and newer homes sold in 2010 and none on the smaller cheaper priced home did sell.
LESS SALES, SLOWER MARKET. It’s noteworthy that there were 8 sales in 2009 and only 3 so far into 2010.
Data used with permission of the GBRAR MLS from dates 1/1/2009 to 10/07/2010, extracted on 10/07/2010
Posted in Baton Rouge Home Appraisers, Baton Rouge Housing Market, Baton Rouge Pre-Listing Appraisals, Central Louisiana 70818, Central Louisiana Appraisers, Central Louisiana FHA Appraisers, Central Louisiana Real Estate, Greater Baton Rouge Divorce Appraisals, Greater Baton Rouge Economic News, Greater Baton Rouge Real Estate News, Greater Baton Rouge Subdivision Video Tours | Tags: Foreclosure, Foreclosures, Gap, Gbrar Mls, Greater Baton Rouge, Home Values, Homes Sold, Housing Statistics, Median Sales Price, Nbsp, Northwoods, Price Ranges, Reo, Solds, Sq Ft, Statistics Central | No Comments »
Geismar Dutchtown Real Estate Trends: Old Mill Subdivision 2010 Update
http://www.ascensionrealestateappraisers.com/ – Geismar Dutchtown Real Estate Trends: Old Mill Subdivision 2010 Update
Solds In Old Mill Subdivision from 1/2010 to 10/02/2010 revealed:
Average Sales Price: $238,985
Average Sold Price Per Sq. Ft.: $126/sf ($124/sf in 2009)
Median Sold Price: $239,900 ($249,950 in in 2009)
Number of Sales: 13 (Only 10 Sales In 2009)
Average Number of Days On Market: 61
Low To High: $225,000 to $257,000
Number of Sold REO/Foreclosures Noted In MLS: 0
Current # Listings: 10, 0 Are Foreclosures
Current Listings Prices: $223,000 To $257,900
Data for the market update was used with permission of the GBRAR MLS. Data is from 1/1/2005 to 10/02/2010, extracted on 10/02/2010. 
Western Livingston Parish Home Appraisers Video: Easterly Lakes 2010 Update
http://www.batonrougerealestateminute.com/ – Western Livingston Parish Home Appraisers Video: Easterly Lakes 2010 Update. Western Livingston Parish Home Appraiser, Bill Cobb, updates the housing market numbers for Easterly Lakes Subdivision in Watson Louisiana 70706.
Posted in Denham Springs Real Estate, Greater Baton Rouge Divorce Appraisals, Greater Baton Rouge Economic News, Greater Baton Rouge Real Estate News, Greater Baton Rouge Subdivision Video Tours, Livingston Parish Real Estate News, Real Estate Baton Rouge | Tags: Bill Cobb, Decline, Home Appraiser, Home Appraisers, Housing Market, Livingston Parish, Market Numbers, Median Sales Prices, Price Per Square Foot, Sq Ft, Video Update, Watson Louisiana, Year To Date | No Comments »
Western Livingston Parish Home Appraisers: August 2010 Market Data
http://www.denhamspringsappraisers.com/ - Western Livingston Parish Home Appraisers: August 2010 Market Data
The August 2010 housing numbers are in from the Greater Baton Rouge Association of Realtors from 8/1/2010 to 8/31/2010 and from 8/1/2009 to 8/31/2010, extracted on 9/16/2010.
Livingston Parish August 2010 Market Data
(For MLS Areas 80, 81, 82 & 83)
Total Monthly Sales: 56 (Lowest Number Of Sales In Period)
Average Listing Price: $164,295 ($162,914 in 8/2009)
Average Sold Price: $161,018 ($160,232 in 8/2009)
Median Sold Price: $140,900 ($152,500 in 8/2009)
Average Days On The Market: 92 (85 in 8/2009)
Listing To Sales Price Ratio: 98% (98.3% in 8/2009)
Current Inventory: 811 (703 in 8/2009)
Months of Inventory: 14.5 (Longest In Period, 5.9 in 8/2009)
Annual View From 8/2009 to 8/2010:
Total Monthly Sales: 1210
Average Listing Price: $167,849
Average Sold Price: $164,948
Median Sold Price: $152,147
Average Days On The Market: 90
Listing To Sales Price Ratio: 98.3%
Average Current Inventory: 719
Average Months of Inventory: 7.1
Accurate Valuations Group’s “MARKET WRAP”:
NUMBER OF HOME SALES DECLINES. Based on these numbers, home sales are slowing considerably from 120 in August 2009, 109 in June 2010, 83 in July 2010 to just 56 in August 2010, a decline of -53% since August 2009.
LOCAL HOUSING INVENTORY SWELLS. With the number of home sales declining, this resulted in an increase to over 14 months of inventory. The good news is that in August, it still took an average days on the market of 92 days to sell a home.
MEDIAN SALES PRICE DECLINE. The median sales price declined sharply from $152,500 in August 2009, $149,000 in June 2010, $155,000 in July 2010 to just $140,900 in August 2010, a decline of -7.6% since August 2009. This shows that this market continues to favor the more affordable housing options over that of the higher end homes market. Area home builders have reacted and are building smaller homes to accomodate this market demand.
WHY WE USE MEDIAN SALES PRICE OVER AVERAGE SALES PRICE? NOTE: Why Median Sales Price is a better indicator than Average Sales Price! Median Sales Price is the barometer by which the National Association of Realtors uses to report on national housing markets. Average Sales Price tends to take all of the home sales prices from the lowest, say $50,000, to the highest, say $1,000,000, and state the average of them all, sometimes skewing the numbers because of the extreme highs and lows. Median Sales Price tends to focus more on the middle of where the bulk of home sales prices are taking place. Generally, the Average Sales Price is going to be higher because it includes the extreme high sales prices in a given market.
Posted in Greater Baton Rouge Economic News, Greater Baton Rouge Real Estate News, Greater Baton Rouge Subdivision Video Tours, Livingston Parish Real Estate News | Tags: Accurate Valuations, Affordable Housing, Amp, Association Of Realtors, Greater Baton Rouge, Home Appraisers, Home Builders, Livingston Parish, Median Sales Price, Mls Areas, Period Average, Price Decline, Price Ratio, S Market, Swells | No Comments »
Baton Rouge Real Estate Minute: Bellingrath Lakes September 2010 Update
http://www.batonrougerealestateminute.com/ – Baton Rouge Real Estate Minute: Bellingrath Lakes September 2010 Update!
A 2009 versus 2010 comparison of Bellingrath Lakes shows a slight decline in Average Sold Price per sq. ft., from $123.75/sf down to $123.13/sf. The Median Sales Price has declined from $304,400 to $290,000. The Average Sales Price has declined from $318,550 to $290,500. And, the Average Days On Market have declined from 188 in 2009 to $105 in 2010. There were 6 total MLS sales in 2009 versus 4 so far into 2010.
Tags: Baton Rouge Housing Market, Baton Rouge Real Estate, baton rouge real estate agent listings, Baton Rouge Real Estate Trends, Baton Rouge Realtor, Baton Rouge Realtors, Greenwell Springs, Bellingrath Lakes, Central La, Baton Rouge Appraisers, Baton Rouge Home Appraisers
Posted in Baton Rouge Housing Market, Baton Rouge Real Estate, Central Louisiana 70739, Central Louisiana Appraisers, Central Louisiana FHA Appraisers, Central Louisiana Real Estate, Greater Baton Rouge Economic News, Greater Baton Rouge Real Estate News, Greater Baton Rouge Subdivision Video Tours | Tags: Baton Rouge Real Estate News, Baton Rouge Realtor, Decline, Greenwell Springs, Home Appraisers, Housing Market, Median Sales Price, Real Estate Agent, Real Estate Trends, Realtors, Sq Ft | No Comments »
Baton Rouge Real Estate Minute: Old Dutchtown Gonzales LA September 2010 Update
http://www.batonrougerealestateminute.com/ – Baton Rouge Real Estate Minute: Old Dutchtown Gonzales LA September 2010 Update.
Tags: Baton Rouge Real Estate, Baton Rouge Real Estate Minute, Baton Rouge Housing, Ascension Parish, Old Dutchtown, Gonzales La Real Estate, 70737
Baton Rouge Real Estate Home Sales: Highs and Lows For September 7, 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