A recent home appraisal in and analysis of Lakes At Oak Grove Subdivision revealed this interesting finding. From 2008 to 2011, the median sales price has declined from $237,800 to $227,800 to $229,700 to now $235,000 into 2011 based only on 1 sale. So, 2008 was the post Hurricane Katrina “High” year followed by 2 years of declines. 2011 at $235,000 is higher than 2009 and 2010. Again, 2011′s $235,000 is only based on 1 sale while 2010′s $229,700 was based on 5 sales. The Listing-To-Sales-Price-Ratio at 98% is the highest since 2007.

TWO MLS CHARTS OF ALL HOME SALES SINCE 2005

The Chart below shows all home sales since 2005. The median sales price is still down -1.6% since the high in 2007. The median sales price has risen 4% since May 2010. But Again, this chart’s is greatly weighed upward based on this one (1) 2011 sale of $235,000.

NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of January 1, 2005 to May 8, 2011. This information was extracted on 5/8/2011. YES, permission was granted by GBRMLS to use Subdivision Price Trends Chart Report!

AUTHOR’S BIO:

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/

I had a local real estate agent contact me last week asking for a update on Les Chenier Subdivision as there really hasn’t been much home sales activity in this development, but a development that has experienced some REO or foreclosure activity.

This development has puzzled me for several years as to how it climbed so high in home prices after Hurricane Katrina for these smaller homes. The Median Sales Prices from 2005 to 2010 climbed and then rightfully so corrected from $167,000, $186,000, $191,000, $195,250, $193,500, $180,000 and now one (1) distressed sale in 2011 for $155,000. It would appear that the $193,500 to $195,000 price range is high for Les Chenier, or about $117/sf. I’m just not sure that over $117/sf is really sustainable for Les Chenier interior lots (those homes not fronting McCrory Rd 1). And, I just posted a video report about the housing price corrections taking place in in this immediate market here: Ascension Parish Home Appraiser Charting Of Declining Housing Market 2008-2011

Total # 2010 Sales: 7
Average Sales Price: $191,964
Median Sales Price: $180,000
Average Sold Price: $111.60/sf
Average List To Sale Price Ratio: 98%
Average Days On Market: 85

FORECLOSURES.

Regarding REOs, 1 2010 sale was an REO and the 1 2011 sale was an REO or Real Estate Owned. According to Legal News, there have been 3 REO sales since 1/2010 being Lots 25, 29 & 90.

CURRENT LISTINGS: ZERO FORECLOSURES!

There are currently 6 listings from $179,900 up to $210,900 or $114/sf up to $126/sf, which some are priced high and certainly not priced according to the correction in home prices taking place in this market. In fact, if one examines the 2007 to 2009 highs in the market on that chart above, the average sold prices per sq. ft. were $116.51/sf, $119.53/sf and $115.38/sf. So, why in 2011, when the market isn’t as strong, are there homes listed above the previous highs, homes listed at $120/sf, $125/sf, $126/sf and $126/sf? Of all 6 listings, all are Active and none are Pending.

Keep Up With Ascension Parish Real Estate Buzz on Facebook!

NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of January 1, 2005 to April 23, 2011. This information was extracted on 4/23/2011. YES, permission was granted by GBRMLS to use Subdivision Price Trends Chart Report!

Top Subdivision Entrance Photo Is Courtesy of Homes Of Baton Rouge Blog: http://www.homesalesofbatonrouge.com/

Author’s Bio:

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/

The Denham Springs housing market hasn’t seen this many high-end home sales in such a short time period in years. The five (5) homes below sold from 1/6/2011 through 4/15/2011, from $450,000 up to $689,167. One (1) was a $450,000 Cash Sale and the other four (4) were financed Conventional per GBRMLS records. The sales are listed below beginning with the most recent sales first.

25536 Southern Hills Ct in in Greystone Golf Community, with 3,120sf, sold 4/15/2011 for $455,000 or $146/sf. Marketing time was only 100 days. Listed by Crysal Bonin with The Mortensen Group LLC and sold by Lawson Covington with Covington & Associates Real Estate LLC.

21452 Stone Bridge Ct in Stone Bridge Subdivision, with 4,704sf, sold 3/31/2011 for $615,000 or $131/sf. Marketing time was only 189 days. Listed by Rene’ Pollet with Coldwell Banker One and sold by Tammy Williams-Sparks with Keller Williams Premier Partners.

21461 Stone Bridge Ct in Stone Bridge Subdivision, with 3,870sf, sold 3/11/2011 for $640,000 or $165/sf. Marketing time was only 68 days. Listed by Alvin Washington with Alvin Washington Realty and sold by Kelli Wascom with Keller Williams Premier Partners.

8289 Allen Drive in Harrells Ferry Landing, with 4,637sf, sold 2/24/2011 for $689,167 or $149/sf. Marketing time was only 145 days. Listed by Denise Stockwell with RE/MAX FIRST and sold by Denise as well.

328 Chateau Jon in Chateau Jon Subdivision, with 3,717sf, sold 1/6/2011 for $450,000 or $121/sf. Marketing time was 140 days with Agent and was FSBO for several months. Listed by Jeannie Spell with RE/MAX FIRST and sold by DREW LANGHART & DARREN JAMES with Keller Williams Premier Partners.

NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of April, 16, 2011 to April 22, 2011. This information was extracted on 04/23/2011.

Visit Denham Springs Real Estate Buzz On Facebook!

Author’s Bio:

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/

ASCENSION PARISH

SOLDS:

5 from $67,000 to $229,900, Average Sales Prices $168,180 or $99.98/sf, Median Sales Price $185,000, Average Days On Market 41.  

LISTINGS:

Currently Actives Total: 744 $234,268 Average Listing Price and Median Price $198,200.

Currently Pending: 246 $194,128 Average Listing Price and Median Price $174,975.

New Listings: 40 With Average Listing Price of $195,992, Median Listing Price of $169,900

Pending Listings: 39 With Average Listing Price of $202,851, Median Listing Price of $189,000

Withdrawn Listings: 13 With Average Listing Price of $259,753, Median Listing Price of $224,900

Expired Listings: 7 With Average Listing Price of $155,673, Median Listing Price of $129,000

EAST BATON ROUGE PARISH

SOLDS:

42 from $21,900 to $575,000, Average Sales Prices $222,343 or $102.28/sf, Median Sales Price $187,000, Average Days On Market 123. 

LISTINGS:

Currently Actives Total: 2695 $247,876 Average Listing Price and Median Price $176,900.

Currently Pending: 613 $209,906 Average Listing Price and Median Price $167,900.

New Listings: 133 With Average Listing Price of $220,158, Median Listing Price of $175,000

Pending Listings: 102 With Average Listing Price of $203,939, Median Listing Price of $169,450

Withdrawn Listings: 18 Average Listing Price $184,066, Median Listing Price of $142,500

Expired Listings: 23 With Average Listing Price of $468,832, Median Listing Price of $214,900

WESTERN LIVINGSTON PARISH

SOLDS:

19 from $22,500 to $448,000, Average Sales Prices $124,242 or $74.59/sf, Median Sales Price $89,000, Average Days On Market 74.

LISTINGS:

Currently Actives Total: 778 $193,809 Average Listing Price and Median Price $159,900.

Currently Pendings: 171 $151,976 Average Listing Price and Median Price $148,000.

New Listings: 37 With Average Listing Price of $186,735, Median Listing Price of $153,900

Pending Listings: 21 With Average Listing Price of $159,738, Median Listing Price of $146,900

Withdrawn Listings: 15 Average Listing Price $162,826, Median Listing Price of $147,500

Expired Listings: 17 With Average Listing Price of $170,894, Median Listing Price of $167,900

WEST BATON ROUGE PARISH

SOLDS:

1 for $179,700 or $127/sf, Median Sales Price $179,700, Average Days On Market 267.

LISTINGS:

Currently Actives Total: 109 $196,436 Average Listing Price and Median Price $186,300.

Currently Pending: 21 $186,897 Average Listing Price and Median Price $185,900.

New Listings: 3 Average Listing Price of $204,900, Median Listing Price of $134,900

Pending Listings: 2 Average Listing Price of $175,900, Median Listing Price of $175,900

Withdrawn Listings: 1 Average Listing Price $49,900, Median Listing Price of $49,900

Expired Listings: 1 With Average Listing Price of $195,000, Median Listing Price of $195,000

NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of April, 16, 2011 to April 22, 2011. This information was extracted on 04/23/2011.

Author’s Bio:

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/

Accurate Valuations Group (Home Appraisals) has completed an analysis of the West Baton Rouge Parish housing market from First Quarter 2010 versus First Quarter 2011. The results are below. CLICK ON IMAGE BELOW TO ENLARGE.

This study explores ALL Single-Family Residential home sales for the three (3) zip codes below. In Q1 2010 there were 27 home sales versus 28 in Q1 2011. So, for 2011, number of sales were up by 1 or approximately +3.7%.

70767 Port Allen. For Zip Code 70767, home sales volume was down 14%, Average Sales Price was down -0.7% and Average Sold Price Per. Sq. Ft. was down -5.5%.

70719 Brusly. For Zip Code 70719, home sales volume was up 50%, Average Sales Price was down -11.4% and Average Sold Price Per. Sq. Ft. was virtually unchanged at 0.4%.

70710 Addis. For Zip Code 70710, home sales volume was up 18%, Average Sales Price down -9.9% and Average Sold Price Per. Sq. Ft. was down -2.7%.

These declines are consistent with the CoreLogic report on national home prices falling for the 7th straight month, as reported on Thursday, April 7, 2011. This is the trend for much of Greater Baton Rouge home prices.

Visit West Baton Rouge Appaisers Here

Visit West Baton Rouge Real Estate Buzz On Facebook

Author’s Bio:
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/

One 2011 Sale $205,000 or $124/sf. It appears Manchac Crossing Median Sales Prices are continuing to Decline from 2008 highs of $242,750. Median Prices since 2006 have been $218,000, $219,950, $242,750, $237,500, $233,250 and now $205,000 in 2011. So, there was the rise in prices after Hurricane Katrina, then the deflating of the market!

NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of January 1, 2005 to March 25, 2011. This information was extracted on 03/25/2011. YES, permission was granted by GBRMLS to use Subdivision Price Trends Chart Report!

http://juban-crossing.com/

WBRZ News has an interesting article regarding Juban Crossing at the link below and a partial image of that article is below!

http://www.wbrz.com/news/juban-crossing-helps-livingston-parish-move-on-up/

]]> http://www.batonrougerealestateappraisal.com/2011/02/baton-rouge-home-appraisal-blog-juban-crossing-update-with-video/feed/ 0 http://www.batonrougerealestateappraisal.com/2011/02/west-baton-rouge-home-appraisers-video-missouri-acres-addis-report-for-2009-2010/ http://www.batonrougerealestateappraisal.com/2011/02/west-baton-rouge-home-appraisers-video-missouri-acres-addis-report-for-2009-2010/#comments Wed, 16 Feb 2011 14:46:07 +0000 Baton Rouge Real Estate Appraisal http://www.batonrougerealestateappraisal.com/greater-baton-rouge-subdivision-video-tours/west-baton-rouge-home-appraisers-video-missouri-acres-addis-report-for-2009-2010/ http://www.westbatonrougeappraiser.com/ – West Baton Rouge Home Appraisers VIDEO: Missouri Acres Subdivision in Addis Louisiana Report For 2009-2010

In Missouri Acres in 2009-2010, the median sales price for the 5 GBRMLS sales was $238,000 with an average sold price of $119.64/sf. The low to high sales prices were $219,000 to $258,000. However, this market is very slow and the days on the market it takes to sell a home has been increasing over the past two (2) years above the $225,000 price ranges.

West Baton Rouge Real Estate Appraisers is an information source provided by local West Baton Rouge Parish Home Appraiser, Bill Cobb, and Accurate Valuations Group West. Bill has 20 years experience as a residential appraiser and updates his local network of sites weekly with reports, videos and audio reviews of local housing market conditions! Some of the videos on this site are housing market updates provided by Bill himself and others are videos of local homes for sale by area Agents.

http://www.batonrougerealestatebuzz.com/ is also a helpful resource for local West Baton Rouge Real Estate Buzz!

While Baton Rouge Real Estate Trends Dot Net reports on the broad or macro Greater Baton Rouge Housing Markets, Baton Rouge Market Metrics Dot Com reports on the individual subdivisions within the four (4) local Parishes that make up the Greater Baton Rouge Housing Market.

NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of January 1, 2009 to December 31, 2010. This information was extracted on 02/13/2011.

The Early Learning Center, located on the Rollins Road extension, is the school for the district’s pre-kindergarten students.

Accurate Valuations Group Home Appraiser, Bill Cobb, took these photos last Fall of the new Baker Fire Department, Office of Emergency Preparedness & Homeland Security Buildings. Buildings dedicated to Avon R. Honey, La State Representative District 63 from 2002-2010 for his dedication and commitment to the Baker Fire Department and City of Baker. The official website for the Baker Fire Department is here! The Advocate Newspaper also has an article about Baker’s new $300,000 fire truck here from June 2010.

From their website, the “Mission Statement” of the Baker Fire Department is: “All members of this department guarantee to the residents and visitors of the City of Baker that we will provide dependable and professional service in a responsive fashion while showing care and compassion for those in need. We will do our best to rapidly and professionally mitigate all fire, rescue, medical care and hazardous material incidents and to protect lives, property and the environment through meticulous training, disaster preparedness, fire prevention and community education programs.”

RESIDENTIAL PERMITS DECLINE Were Down In 2010! As a whole, residential building permits were down from 2,184 in 2009 versus 1,964 in 2010, a decline of 220 permits or -10% (includes all residential permit types). December 2010 versus December 2009 saw an increase from 177 in 12/2009 to 201 in 12/2010.

DECEMBER 2010 RESIDENTIAL SFR PERMITS TOTAL “53″! For Residential Permits only for “Single Family Residences”, December 2010 saw 53 permits issued versus 44 for November 2010.

ANY IMPROVEMENT IN JANUARY 2011? NO! According to EBRP Department of Public Works Permit Office, “Building permits are down from 1,763 in December 2010 to 1,673 in January 2011.” For Residential ONLY, there were 30 permits issued for Single Family Residences and 62 for Additions-Remodeling for a total of 92 permits. This is a -36% decrease compared to the 143 permits issued in January 2010. And, this is -48% decrease compared to the 177 permits issued in December 2010. However, December 2010 did see an odd “88″ permits for “Duplexes”, which was more than any recorded in recent history.

NOTE: Top Image Source: www.remodeling-sanantonio.com

Tags: Baton Rouge Homes, Baton Rouge Housing, Baton Rouge Housing Market, Baton Rouge Real Estate, Baton Rouge Real Estate Housing, Baton Rouge Real Estate Trends, Baton Rouge Realtor, Baton Rouge Realtors, East Baton Rouge Residential Building Permits

http://www.homeappraisalsbatonrouge.com/

Ok, we know from the recent LREC release that in all of 2010, the number of home sale was down -7.3%. Total home sales volume was down -5.2%. And, that the “Average Sales Price”, which I am not a fan of reporting on, rose 2.3% from $197,587 in 2009 to $202,138 in 2010. To find out why I’m not a fan of using Average Sales Price, see this explanation under “AVERAGE SALES PRICE IS NOT INDICATOR WHAT WE SHOULD BE RELYING ON! .

WHAT INDICATIONS CAN WE DRAW FROM JANUARY 2011 NUMBERS? So, with 2010 being a down year for the number of home sales, how did January 2011 perform to give us an indication of what 2011 might result in?

On Facebook in 2011, there’s been a lot of positive comments from local Agents about the uptick in Agent showings and buyer interest. Is that translating into actual increase in the number of home sales?

Number Of Home Sales Down 9%. January home sales were down 9% from 2010 with 328 total sales recorded for the first month of the year versus 360 for January 2010.

No Improvement In Number Of Sales By Parish. There was no improvement in the number of home sales for ALL four local Parishes. Ascension had 73 sales in 2010 versus 72 in 2011, down 1%. East Baton Rouge had 206 sales in 2010 versus only 183 in 2011, down 11%. Livingston had 74 sales in 2010 versus 66 in 2011, down 11%. And, West Baton Rouge had 7 sales in 2010 versus 7 in 2011, unchanged.

Average Sales Price Unchanged. Average home sales prices were up 0.61% from 2010 $188,529 to $189,688 for 2011.

Median Sales Price Up 2.5%. Median home sales prices were up 2.5% from 2010 $164,850 to $168,950 for 2011.

Average Sales Price Per Sq. Ft. Down 2.3%. Average home sales prices per square foot was down 2.3% from $99.70/sf in 2010 versus $97.40 in 2011.

Days On Market Increased. Marketing time periods also increased in 2011 to an average of 103 days versus 92 days in 2010

Number of Existing Home Sales Down, Prices Up Just Slightly. Existing home sales made up 79% or 259 of the total sales recorded with an average sales price of $189,356, median sale price of $159,900. In 2010, Existing home sales made up 76% or 274 of the total sales recorded with an average sales price of $185,144 and median sale price of $159,450. So, the 2011 average sales price is up 2.3% while the median sales price was virtually unchanged.

Number of New Home Sales Down, Prices Up. New home sales made up 21% of the total sales recorded. There were 69 new homes sold in 2011 with an average sales price of $202,197 and median sales price of $179,900 versus 86 in 2010 with and average sales price of $199,313 and median sales price of $176,598.

Number of Foreclosure Sales Up 15%, Prices Down! Bank sales were up 15% from the prior year and average bank sales prices were up 21%. Average REO Sales Prices in 2010 were $113,265 versus only $106,247 in 2011. There were 60 “REO” sales in 2011 versus 52 in 2010.

NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of January 1, 2010 to January 1, 2011. This information was extracted on 02/11/2011. Source For Quarterly Indicators chart is LREC.

Search Parameters were Ascension, Livingston, East Baton Rouge and West Baton Rouge Parishes, All property types except Manufactured Housing and All ages.

Tags: Ascension Parish Real Estate, Baton Rouge FHA Appraisers, 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 Housing, Baton Rouge Real Estate Trends, Livingston Parish Real Estate, West Baton Rouge Parish

The LREC or Louisiana REALTORS (source) is reporting on the state of Louisiana foreclosures as of fourth quarter 2010. There report is below.

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

Overall there really isn’t much to report on in 2010. Per GBRAR MLS, there was only 1 2010 sale (and only 1 MLS sale in 2009) in Fountain Hill Subdivision for $383,000 on 8/31/2010 for 3,625sf. This home sold for $105.66/sf as a foreclosure. The photo of this home is directly below. The bank took this home back for a mortgage balance of $344,000 and still sold it for a substantial profit in this market. This appraiser has performed two (2) foreclosure appraisals in Fountain Hill Subdivision in 2010.

My search of 2010 Legal News for Fountain Hill Subdivision also revealed another foreclosure for $246,666 in March 2010. Also per Legal News, there was a lot sale for $79,000 for Lot 60 in 12/2010.

The trend is looking up for 2011 for Fountain Hill Subdivision with one (1) 2011 sale for $450,000 for only 3,184sf or $141.33/sf. Given the past 2.5 years of lackluster and foreclosure activity within Fountain Hill, this was a very, very high sales price for Fountain Hill specificially and shows strength within the Prairieville market. It’s also note here that this was a “Cash Sale” where an appraisal may or may not have been procured to know the true value. This home was on the market for a total of 668 days in two (2) seperate MLS listings. In any event, this is a positive for Fountain Hill, for Northern Ascension Parish and for the Prairieville market in general.

NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of January 1, 2009 to December 31, 2010. This information was extracted on 1/11/2011. Yes, this appraiser has obtained permission from GBRAR MLS to use the above pricing chart!

Tags: Ascension Parish Appraisers, Ascension Parish Home Appraisers, Ascension Parish Real Estate, Ascension Parish Real Estate Appraisers, Prairieville LA, Fountain Hill, 70769

Solds In Manchac Place from 1/1/2010 to 12/31/2010 revealed:

Average Sales Price: $292,618 ($290,000 in 2009)

Average Sold Price Per Sq. Ft.: $99.34/sf ($91.14/sf in 2009)

Median Sold Price: $293,900 ($290,000 in 2009)

Number of Sales: 11 (13 in 2009)

Average Days On Market: 125 (147 Days in 2009)

Low To High: $247,000 to $356,900

Number of Sold REO/Foreclosures Noted In MLS: 2 For $263K and $275K

Current # Listings: 7, 1 Foreclosure, 1 Short Sale

Current Listings Prices: $204,900 To $325,000, $85/sf to $122/sf

NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of January 1, 2009 to December 31, 2010. This information was extracted on 1/11/2011. YES, this appraiser does have the permission of GBRMLS to use the chart above Subdivision Price Trends Report!

Tags: Ascension Parish Appraisers, Ascension Parish Real Estate, Baton Rouge Real Estate, Ascension Parish Real Estate Appraisers, Ascension Parish Home Appraisers, Prairieville La Home Appraisers, Prairieville La Real Estate Appraisers, Manchac Place

RESIDENTIAL PERMITS DECLINE In 2010! As a whole, residential building permits are down from 2,184 in 2009 versus 1,964 in 2010, a decline of 220 permits or -10% (includes all residential permit types). December 2010 versus December 2009 saw an increase from 177 in 12/2009 to 201 in 12/2010.

DECEMBER 2010 RESIDENTIAL SFR PERMITS TOTAL “53″! For Residential Permits only for “Single Family Residences”, December 2010 saw 53 permits issued versus 44 for November 2010.

NOTE: Top Image Source: www.remodeling-sanantonio.com

Tags: Baton Rouge Homes, Baton Rouge Housing, Baton Rouge Housing Market, Baton Rouge Real Estate, Baton Rouge Real Estate Housing, Baton Rouge Real Estate Trends, Baton Rouge Realtor, Baton Rouge Realtors, East Baton Rouge Residential Building Permits

Solds In The Lakes At Saint Amant Subdivision from 1/1/2010 to 12/31/2010 revealed:

Average Sales Price: $206,181 ($213,317 in 2009 or -3.35%)
Avg Sold $ Per Sq. Ft.: $96.36/sf ($102.41/sf in 2009 -5.9%)
Median Sold Price: $203,900 ($215,950 in 2009 -5.6%)
Number of “MLS” Sales: 9 (6 in 2009)
Average Number of Days On Market: 150 (101 in 2009)
Low To High: $191,000 to $229,900
Number of Sold REO/Foreclosures Noted In MLS: 1 Short Sale
Current # Listings: 2, 1 Is A Foreclosure
Current Listings Prices: $149,000 to $235,000 or $75/sf to $98/sf.

NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of January 1, 2009 to December 31, 2010. This information was extracted on 1/3/2011. Yes, this appraiser has obtained permission from GBRAR MLS to use the above pricing chart!

Home On Ronda Avenue

Solds In Ronda Place Subdivision from 1/2010 to 12/31/2010 revealed:

Average Sales Price: $157,950 ($144,967 in 2009)
Average Sold Price Per Sq. Ft.: $96.79/sf ($89.87/sf in 2009)
Median Sold Price: $157,950 ($149,900 in 2009)
Number of “MLS” Sales: 2 (3 in 2009)
Average Number of Days On Market: 37 (233 in 2009)
Low To High: $156,000 to $159,900
Number of Sold REO/Foreclosures Noted In MLS: 0
Current # Listings: 2, 1 Is A Foreclosure $116,900
Current Listings Prices: $116,900 to $199,900 or $75/sf to $81/sf.

The $116,900 listing on Aimee Drive has 1,566sf living area. The $199,900 lisitng is “contingent” or under contract with the buyer’s home waiting to sell and has 2,472sf living area.

LEGAL NEWS REPORTS 4 SALES. For Ronda Place Subdivision, Legal News reports four (4) total sales, two (2) FSBO Sales. Legal News reports that 17254 Eric Dr sold for $165,000 in February 2010. MLS history reports this home has 1,616sf 6/3/2 built in 1982 with a large 25×22 Workshop. So, this home sold for $102.10/sf.

Legal News also reports a sale of one of the smaller garden homes fronting Hwy 929 for $121,500 in November 2010, Lot 67-B. MLS History states this home to be 17230 La Hwy 929 having 1,200sf with 2 bedrooms, 1 bathroom and last sold for $99,900 in 12/2005. So, this home sold for $101.25/sf approximately. I use the word “approximately” because MLS uses the even “1200″ sf, meaning that the home might not even have been measured for the listing, which is a disturbing trend I’m seeing more of in Greater Baton Rouge Real Estate.

This is the Foreclosure Listing on Aimee Drive!

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,

I recently completed a home appraisal assignment on Minden Street in Stevendale Heights on a larger than average 1,300sf home for this subdivision and noticed these observations. According to Legal News history, Stevendale Heights appears to experience a higher than average foreclosure or REO history. Just on Minden Street, there are currently 2 REOs or foreclosues in process, 2745 and 2766 Minden Street. And, 2739 Minden Street sold as an REO in May 2010. In fact, ALL 3 sales in 2010 were either REO or distressed in nature.

Solds In Stevendale Heights from 1/2010 to 12/17/2010 revealed:

Average Sales Price: $46,149 ($73,470 in 2009)
Average Sold Price Per Sq. Ft.: $38/sf ($53/sf in 2009)
Median Sold Price: $48,500 ($70,000 in 2009)
Number of Sales: 3 (10 in 2009)
Average Number of Days On Market: 129
Low To High: $30,000 to $59,948
Number of Sold REO/Foreclosures Noted In MLS: 3
Current # Listings: 7, 2 Are Foreclosures
Current Listings Prices: $52,000 To $87,000

NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of January 1, 2009 to December 17, 2010. This information was extracted on 12/17/2010. YES, this appraiser does have the permission of GBRMLS to use the chart above Subdivision Price Trends Report!

Tags: Baton Rouge Appraisers, Baton Rouge Housing, Baton Rouge Housing Market, Baton Rouge Real Estate, Baton Rouge Real Estate Buzz, Baton Rouge Real Estate Housing, Baton Rouge Real Estate Trends, Stevendale Heights

– Ascension Parish Home Appraisers: Quail Creek Subdivision Numbers Improve in 2010! While the number of home sales is down 54%, the average sales price, median sales price and average sold price per sq. ft. are all up in 2010 based on 6 sales.

I’m currently working on a refinance appraisal on Lakeland Avenue in Quail Creek Subdivision and found the numbers below rather interesting.

Solds In Quail Creek from 1/2010 to 12/1/2010 revealed:
Average Sales Price: $284,383 ($241,281 in 2009)
Average Sold Price Per Sq. Ft.: $117.14/sf ($113.42/sf in 2009)
Median Sold Price: $285,200 ($250,000 in 2009 based on 13 sales)
Number of Sales: 6 (13 in 2009)
Average Number of Days On Market:131
Low To High: $217,900 to $350,000 (Sizes Vary from 1,790sf to 3,292sf)
Number of Sold REO/Foreclosures Noted In MLS: 0
Current # Listings: 4, 0 Are Foreclosures
Current Listings Prices: $225,000 To $309,900

NOTE: The GBRMLS Chart has not been updated and only includes “4″ of the “6″ sales taken place.

NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of January 1, 2009 to December 1, 2010. This information was extracted on 12/01/2010.

Tags: Baton Rouge Estate Appraisers, Baton Rouge FHA Appraisers, Baton Rouge Housing, Baton Rouge Housing Market, Baton Rouge Real Estate Appraisers, Baton Rouge Real Estate Buzz, Greater Baton Rouge Real Estate, Quail Creek, Ascension Parish Real Estate, 70769

Solds In Rolling Meadows from 1/2010 to 11/30/2010 revealed:
Average Sales Price: $141,767
Average Sold Price Per Sq. Ft.: $103/sf
Median Sold Price: $139,900
Number of Sales: 3
Average Number of Days On Market: 110 Days
Low To High: $135,500 to $149,900

THE CHART BELOW SHOWS A “COOLING” OF THE VERY HIGH POST HURRICANE KATRINA SALES PRICE, A DROP FROM $108.32/SF TO $103.04/SF, WHICH IS HEALTHY FOR THIS “First Time Homebuyer Market where $157,500 was just too much to pay for housing! It was thought that the new Juban Parc Junior High School directly across from Rolling Meadows was going to “raise” home values but that doesn’t appear to have taken place based on 2010 home sales numbers, which is a relief for those wanting to buy into Rolling Meadows. And, the 1 MLS Listing in Rolling Meadows at $155,000 has been on the market since 4/6/2010 starting out at $158,500 facing strong buyer resistance at that very high pricing.

Number of Sold REO/Foreclosures Noted In MLS: 0
Current # Listings: 1, 0 Are Foreclosures
Current Listings Price: $155,000

Author’s Bio:

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 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, Mobile: 225-953-0638

info@accuratevg.com

http://www.accuratevg.com/

NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of January 1, 2010 to November 30, 2010. This information was extracted on 11/30/2010.

Baton Rouge Housing Market Metrics New Three Year Study of Jefferson Crossing: Northern Ascension Parish Housing Market Metrics: Jefferson Crossing 3 Year Study

]]> http://www.batonrougerealestateappraisal.com/2010/11/baton-rouge-real-estate-appraisal-dot-com-three-year-study-of-jefferson-crossing/feed/ 0 http://www.batonrougerealestateappraisal.com/2010/10/greater-baton-rouge-home-appraisers-one-and-three-year-housing-studies-released/ http://www.batonrougerealestateappraisal.com/2010/10/greater-baton-rouge-home-appraisers-one-and-three-year-housing-studies-released/#comments Fri, 22 Oct 2010 11:00:52 +0000 Baton Rouge Real Estate Appraisal http://www.batonrougerealestateappraisal.com/baton-rouge-economic-news/greater-baton-rouge-home-appraisers-one-and-three-year-housing-studies-released/ http://www.batonrougerealestateappraisal.com/ – Greater Baton Rouge Home Appraisers: One Year Housing Study Released!

Accurate Valuation Group has released a 1 year and 3 year study on Greater Baton Rouge Housing – Facts, Prices, Trends! The 1 year study includes 10 charts and 3 year includes 9 charts.

Click here to view the 1 Year Study!

Click here to view the 3 Year Study!

http://www.batonrougerealestatetrends.net/

Greater Baton Rouge Appraiser, Bill Cobb, has performed a study on the number of “short sales” taking place within the Greater Baton Rouge Housing Market. This was a rather difficult study to complete because of the lack of designation of short sales within the local GBRMLS. In other words, there’s no box for agents to check that specifically states the reason for the sale was “Short Sale”. So, this makes the numbers below somewhat questionable because of the lack of a proper method for classifying short sales within the local MLS. This appraiser has made the suggestion for this to be corrected to GBRMLS.

Agents do sometimes state “Short Sale” in the “Remarks” and or “Realtor Remarks” section of the MLS Sheet. So, this appraiser searched “short sale” within the “Remarks” and or “Realtor Remarks” to discover the results below. NOTE: It’s believed that these numbers below are lower than the actual number of short sales taking place. And, it’s anticipated that with the Big Banks halting foreclosures for an unknown time period (moratorium), short sales will become more popular with the Big Banks, or so I have been reading.

NOTE: Data used with permission of the GBRMLS. Search dates are 1/1/2009 to 10/16/2010. Extraction date was 10/16/2010.

Short Sale Image Source: http://www.manausa.com/short-sale-proces/

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.

The chart above 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.

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.

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%.

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.

The chart below represents the number of recorded West Baton Rouge Parish REO or Foreclosure Sales within the Greater Baton Rouge MLS as of 10/16/2010, with the exception of Manufactured Housing sales. The GBRMLS Areas for West Baton Rouge Parish is 70.

Let’s put these foreclosure numbers into perspective! In 2009, there were a total of 122 sales. 6 foreclosure sales in 2009 represents only 5% of total sales. In 2010, there have been a total of 115 sales. 8 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 11.

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 4 current REO listings for all West Baton Rouge MLS Area 70 out of a total 114 total listings. So, 4% of all West Baton Rouge 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.

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.

Where Are The 2010 Livingston Parish Foreclosures Taking Place? Livingston Parish Fore closure 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 Foreclosures Most Concentrated?

The chart below represents the number of recorded Livingston Parish REO or Foreclosure Sales within the Greater Baton Rouge MLS (Multiple Listing Service), with the exception of Manufactured Housing sales. Greater Baton Rouge MLS Areas for Livingston Parish are 80, 81, 82 and 83.

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.

Let’s put these foreclosure numbers into perspective! In 2009, there were a total of 1,193 sales. 103 foreclosure sales in 2009 represents 9% of total sales. In 2010, there have been a total of 877 sales. 113 foreclosure sales in 2010 as of 9/30/2010 represents 13% of total sales. The projected number of reo / fore closures at end of 2010 is approximately 143.

There’s A Major “Caveat” with the numbers below! Based on a 13% REO sold rate, which does appear to be an indication REOs are 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 71 current REO listings for all Livingston MLS Areas out of a total 962 total listings. So, 7% of all Livingston MLS Listings are Fore closures!

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.