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Real Estate Baton Rouge
Ascension Parish Foreclosure Trends: 2010 Foreclosures Total 7 Percent Of Sales
10/17/2010 | 
Author 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 | 
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West Baton Rouge Parish Residential Building Permits Charting From 2000 Through September 2010
http://www.westbatonrougeappraiser.com/ – West Baton Rouge Parish Residential Building Permits Charting From 2000 Through September 2010
The West Baton Rouge Parish Residential Building Permit Data Through September 2010 has been released. See the results above for actual residential building permits less those permits issued for additions or remodeling projects. In 2008, there were a total of 146, in 2009 131 and in 2010 year-to-date, there have already been 136 through September 2010. If this pace continues through 2010, there should be 181 permits issued, which will be better than both 2008 and 2009. The above data represents the number of total residential buildings, not necessarily the number of units. For example, in 2008, the U.S. Census Bureau shows that 284 total units were permitted, but only 146 residential buildings permitted.
RESIDENTIAL BUILDING PERMIT CHARTS FROM YEARS 2000 TO 2010 YEAR-TO-DATE (Sept. 2010) NOTE: Does Not Include Permits For Additions or Remodeling!
Source: U.S. Census Bureau and Chad Calder with The Advocate Newspaper
Note: The Latest Greater Baton Rouge Residential Building Permits News is here below:
Tags: West Baton Rouge Parish, West Baton Rouge Buiding Permit Data, West Baton Rouge Buiding Permit Charts, West Baton Rouge Buiding Permit Graphs, Port Allen Building Permit Data
Posted in Baton Rouge Housing Market, Baton Rouge Real Estate, Baton Rouge Realtor, Baton Rouge Realtors, Real Estate Baton Rouge, Residential Building Permits | Tags: Additions, Advocate, Baton Rouge Parish, Building Permit, Building Permits, Census Bureau, Chad, Charting, Charts Graphs, Greater Baton Rouge, Pace, Remodeling Projects, Residential Building, Residential Buildings, U S Census, U S Census Bureau, West Baton Rouge, West Baton Rouge Parish, Year To Date | No Comments »
Baton Rouge Real Estate Appraisals Housing Trends Report: Centurion Place 2010 Update
http://www.batonrougerealestatetrends.net/ – Baton Rouge Real Estate Appraisals Housing Trends Report: Centurion Place 2010 Update
Solds In Centurion Place from 1/2010 to 10/3/2010 revealed:
Average Sales Price: $290,000 ( $325,315 in 2009 )
Average Sold Price Per Sq. Ft.: $95/sf ( $101/sf in 2009 )
Median Sold Price: $285,000 ( $287,500 in 2009 )
Number of Sales: 3 ( 8 in 2009 )
Average Number of Days On Market: 275 (78 in 2009)
Low To High MLS Sales Prices: $289,000 to $329,000
Number of Sold REO/Foreclosures Noted In MLS: 0
Current # Listings: 9, 1 Is A Foreclosure
Current Listings Prices: $282,900 To $499,000
Since 1/2005:
Low To High MLS Sales Prices: $178,000 to $640,000
Average Sales Price: $322,489; Median Sales Price: $287,000
Data for this market report was used with permission of the GBRAR MLS. Data search is from 1/1/2005 to 10/03/2010, extracted on 10/03/2010.
Posted in Baton Rouge Appraisal, Baton Rouge Appraisals, Baton Rouge Appraisers, Baton Rouge Economic News, Baton Rouge Housing Market, Baton Rouge Pre-Listing Appraisals, FHA Appraisers Baton Rouge, Pre-Listing Home Appraisals, Probate Appraisers Baton Rouge, Probate Appraisers Greater Baton Rouge, Real Estate Baton Rouge | Tags: Baton Rouge Real Estate News, Centurion Place, Data Search, Foreclosure, Foreclosures, Gbrar Mls, Median Sales Price, Mls Data, Mls Sales, Real Estate Appraisals, Reo, Solds, Sq Ft, Trends Report | No Comments »
Baton Rouge Housing Trends: Ascot Subdivision 2010 Market Report
http://www.batonrougerealestatetrends.net/ – Baton Rouge Housing Trends: Ascot Subdivision 2010 Market Report
Solds In Ascot Subdivision from 1/2010 to 10/02/2010 revealed:
Average Sales Price: $204,483
Average Sold Price Per Sq. Ft.: $111/sf ( $115/sf in 2009 )
Median Sold Price: $199,950 ( $208,000 in in 2009 )
Number of Sales: 6 ( 7 Sales In 2009 )
Average Number of Days On Market: 56
Low To High: $175,000 to $248,000
Number of Sold REO/Foreclosures Noted In MLS: 0
Current MLS # Listings: 0, 0 Are Foreclosures
There is 1 FSBOBR.COM Listing for $234,500 for 2,330sf or $100.64, Click Below for more information on this home.
Data for this housing market report was used with permission of GBRAR MLS, search dates from 1/1/2005 to 10/02/2010, extraction data 10/02/2010.
Posted in Baton Rouge Divorce Appraisal, Baton Rouge FHA Appraisers, Baton Rouge Pre-Listing Appraisals, Baton Rouge Real Estate, Pre-Listing Home Appraisals, Real Estate Baton Rouge | Tags: Ascot, Baton Rouge, Foreclosures, Fsbobr, Housing Market, Median, Mls Listings, Mls Search, Reo, Search Dates, Solds, Sq Ft | No Comments »
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 »
Baton Rouge Real Estate Trends: Tuscany Villas Subdivision 2010 Trend 70817
http://www.batonrougerealestateappraisers.net/ – Baton Rouge Real Estate Trends: Tuscany Villas Subdivision 2010 Trend 70817
Solds In Tuscany Villas 1/1/2010 to 9/13/2010 revealed:
Average Sales Price: $184,792
Average Sold Price Per Sq. Ft.: $125.21/sf
Median Sold Price: $185,500
Number of Sales: 6
Low To High: $180,000 to $188,000
Current # Listings: 2
Current Listings Prices: $189,900 To $191,900
THE TREND: The trend since 2009 is a lower average and median sold price and lower price per sq. ft., but based on only 1 sold in 2009. In 2009, there was one sale (1) for $198,000 or $131/sf. In 2008, there were 3 solds averaging $126/sf, average solds of $187,333 and median solds of $190,000. So, it appears that 2010 sales have softened somewhat the average and median sold prices and average sold price per square foot.
Tags: Baton Rouge Housing Market, Baton Rouge Real Estate, Baton Rouge Real Estate Housing, Baton Rouge Real Estate Trends, Real Estate Baton Rouge, Tuscany Villas, Trends Baton Rouge Real Estate, 70817
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
Are Baton Rouge Foreclosures A Problem? In Villa Del Rey, Up To 40 Percent of 2010 Sales Were Distressed Sales
http://www.batonrougerealestateappraisal.com/ – Are Baton Rouge Foreclosures A Problem? In Villa Del Rey, Up To 40 Percent of 2010 Sales Were Either Foreclosures Or Distressed Sales.
The GBRMLS indicates 25 total home sales in Villa Del Rey from 1/1/2010 through 9/9/2010. Sales prices have ranged from 74,900 up to $190,000.
Villa Del Rey Sold Price Per Sq. Ft. Continues To Decline Since 2007 Highs
2006: $70.33/sf
2007: $73.35/sf
2008: $69,24/sf
2009: $68.39/sf
2010: $65.36/sf
Of those 25 2010 sales, MLS reports 9 were REOs or foreclosures and 1 was a deep discount distressed sale, meaning that approximately 40% of 2010 solds were distressed in nature.
NOTE: Based on Detached Single Family Solds in GBRMLS, information from the Greater Baton Rouge Association of REALTORS\MLS for the period 01/01/2010 through 09/09/2010 for Villa Del Rey. This information was extracted on 09/09/2010.
Posted in Baton Rouge Economic News, Baton Rouge Foreclosure Auctions, Baton Rouge Home Appraisers, Real Estate Baton Rouge | Tags: Association Of Realtors, Detached Single Family, Distressed Sales, Foreclosures, Gbrmls, Greater Baton Rouge, Mls Reports, Nature, Reos, Solds, Sq Ft, Villa Del Rey | No Comments »
Greater Baton Rouge Real Estate: Understanding difference between appraisals and tax assessments
http://www.batonrougerealestateappraisal.com/ – Greater Baton Rouge Real Estate: Understanding the difference between an appraisal and an assessment!
Lea Miller has written an article I wanted to share locally: Understanding the difference between an appraisal and an assessment . Here are a few snippets (not the entire article) from her article below:
“A real estate appraisal is an estimation of market value. Lenders usually require appraisals for homes on which they are asked to lend money in the form of a mortgage or home equity loan. Appraisals are performed by trained professionals who are licensed by the state in which they operate. The appraiser may be hired by you or by the lender, but is an impartial third-party who provides an objective analysis of the property’s value.
An assessment, on the other hand, is conducted by a municipality when evaluating properties for the purpose of levying property taxes. Municipalities look at the overall value of properties in an area and the specific use of a particular property. For example, commercial properties like professional offices are assessed at a different rate, even though they may be in buildings that are just like homes in the same area. Property tax may also vary depending on the last date the property changed hands. Today, computer technology streamlines the process of assessment and allows for sophisticated statistical models. Many states offer homeowner’s exemptions, which reduce the assessed value of a property when it is the owner’s primary residence.
Municipalities typically send assessment notices yearly in advance of the issuance of property tax bills for the year. A provision is made for an appeals process if the property owner does not feel that the assessment is correct.
In a stable real estate market, appraisal and assessment values may be similar, but never make the assumption that if you have one that you know the other. Market fluctuations, lag time from assessment to notification, and recent renovations or improvements may cause a disparity between the two numbers.”
Tags: Baton Rouge Real Estate, appraisal and tax assessement differences
Posted in Baton Rouge Real Estate, Greater Baton Rouge Real Estate News, Home Appraisals Versus Tax Assessments, Real Estate Baton Rouge | Tags: Appeals Process, Assessment Notices, Assessment Values, Baton Rouge Real Estate News, Computer Technology, Greater Baton Rouge, Home Equity Loan, Last Date, Loan Appraisals, Market Appraisal, Municipalities, Objective Analysis, Professional Offices, Property Owner, Property Tax Bills, Property Taxes, Real Estate Appraisal, Snippets, Statistical Models, Tax Assessments | No Comments »
Good Legal News For Greater Baton Rouge Home Owners Dealing With Chinese Drywall!
http://www.batonrougerealestateappraisal.com/ – Good Legal News For Greater Baton Rouge Home Owners Dealing With Chinese Drywall!
Below is news about Chinese Drywall Litigation for Florida and Louisiana as quoted below from: http://www.lawyersandsettlements.com/case/chinese-drywall-problems.html?ref
“Chinese Drywall Litigation Heats Up News
July 28, 2010. By Jane Mundy
Miami, FL: Having recently lost a
<http://www.lawyersandsettlements.com/case/chinese-drywall-problems.html?ref
=article14638> Chinese drywall lawsuit, Banner Supply Company is now facing
a class action lawsuit, which will attempt to include all Florida homeowners
who bought drywall from the distributor. The class action alleges that
Banner knew the drywall was defective in 2006 and was negligent in not
warning consumers.
Chinese Drywall Litigation Heats UpMeanwhile, homeowners with defective
drywall are also concerned that their home insurance policy may not cover
Chinese drywall. LawyersandSettlements recently reported on the
<http://www.lawyersandsettlements.com/articles/14512/chinese-drywall-china-2
8.html> decision by Judge Robert Doumar, in the federal court in Norfolk, VA
(Travco Insurance Co. v. Ward).
However, there may be good news for Louisiana homeowners.
Louisiana Governor Bobby Jindal signed legislation barring insurers from
ending homeowners’ insurance coverage if a policyholder files a claim based
on tainted Chinese drywall. In late 2009, Louisiana Insurance Commissioner
Jim Donelon said if the policyholder has been with the insurer for more than
three years, the state’s insurers will not be able to cancel policies
related to tainted drywall manufactured overseas. The state’s last resort
insurer, Louisiana Citizens Property Insurance Corp., now has a “bare bones”
policy to meet the requirements of lenders when a homeowner needs to vacate
a house.
On the federal level, experts predict that a bill known as the Foreign
Manufacturer Legal Accountability Act will likely be passed in the next
month or so. Developed in response to the public outcry that resulted when
consumers found out that the Chinese manufacturers could not be held
accountable under US law for the defective products, the law would allow
Americans to sue foreign consumer-product makers in US courts.
The Act will require foreign manufacturers of “covered products” to
designate a registered US agent to receive service of process on behalf of
the company. This basically means that foreign manufacturers can be sued in
the United States for any civil action related to those covered products.
The law would also prohibit any person from importing covered products from
manufacturers who do not have registered agents in the US.
Possibly more good news for homeowners: lawyers are currently trying to set
some rules in Chinese drywall settlements. According to court papers filed
in New Orleans, Knauf Plasterboard Tianjin Co. Ltd. (KPT) and builders could
unfairly use settlements to get homeowners to unwittingly waive their legal
rights or to agree to inadequate remediation. The lawyers want US District
Judge Eldon Fallon, who has ruled in favor of homeowners in two early test
cases, to require greater disclosure by KPT and builders-including
settlement details and prior court decisions-in any communications with
homeowners.
Judge Fallon ordered KPT and another manufacturer to remediate those homes
by gutting and rebuilding their interiors. But attorneys contend that
disclosure is needed because the settlement attempts are intended to bypass
the judge’s rulings and undermine the judge’s rulings as the basis for a
national remediation standard. Manufacturers are appealing, but KPT is
beginning to seeking settlements with builders who used its drywall.
Chinese Drywall Problem Legal Help
If you have suffered losses in this case, please send your complaint to a
lawyer who will review your possible [
<https://www.lawyersandsettlements.com/submit_form.html?label=chinese-drywal
l-problems&ref=article14638> Chinese Drywall Problem Lawsuit] at no cost or
obligation.
[
<http://www.lawyersandsettlements.com/case/chinese-drywall-problems.html?ref
=article14638> READ MORE CHINESE DRYWALL PROBLEM ARTICLES ]“
Posted in Baton Rouge Real Estate, Chinese Drywall, Greater Baton Rouge Economic News, Greater Baton Rouge Real Estate News, Real Estate Baton Rouge | Tags: Banner Supply Company, Bobby Jindal, Citizens Property Insurance Corp, Class Action Lawsuit, Doumar, Drywall, Florida Homeowners, Homeowners Insurance, Insurance Co, Jim Donelon, Judge Robert, Lawyersandsettlements, Legal News, Louisiana Citizens Property Insurance Corp, Louisiana Governor, Louisiana Insurance Commissioner, Mundy, Policyholder, Property Insurance, Travco Insurance | No Comments »