Baton Rouge Real Estate Appraisal

Livingston Parish Home Sales Q1 2012, Pending Listings Up 30%, Median Sales Price Still Down

Baton Rouge Real Estate Appraisal — Fri, 13 Apr 2012 08:42:52 +0000

Livingston Parish Home Sales Q1 2012, Pending Listings Up 30%, Median Sales Price Still Down

Livingston Parish Home Sales Report April 12 2011 Through April 12 2012. While Median Sales Price Continues To Correct Downward, the number of pending listing is up 30% showing pent up buyer demand, which is Good News! Inventory is also down.

This is a Q1 2012 or First Quarter 2012 multipage study of Livingston Parish Homes Sales (All GBRMLS Areas, All Sales Price Ranges, All Ages, All Types Of Properties) and includes the detailed sales per month sheets including Median Price, # Units and Average DOM or Days On Market.

Livingston Parish Home Sales Q1 2012 Pending Listings Up 30 Percent Median Sales Price Still Down

GOOD NEWS:

Under Contract Properties by Month
Mar-11 vs. Mar-12: The number of under contract properties is up 30%

Months Supply of Inventory
Mar-11 vs. Mar-12: The average months supply of inventory is down -28.8%

The Average Days on Market by Month
Mar-11 vs. Mar-12: The average days on market is down 12%

New Properties by Month
Mar-11 vs. Mar-12: The number of new properties is down 6%

For Sale Properties by Month
Mar-11 vs. Mar-12: The number of for sale properties is down 6%

Expired Properties by Month
Mar-11 vs. Mar-12: The number of expired properties is down 37%

BAD NEWS:

Median Sold Price by Month
Mar-11 vs. Mar-12: The median sold price is down 2%

Median For Sale vs. Median Sold
Mar-11 vs. Mar-12: The median price of for sale properties is up 3% and the median price of sold properties is down 2%

Sold Properties by Month
Mar-11 vs. Mar-12: The number of sold properties is down 11%

Supply & Demand by Month
Mar-11 vs. Mar-12: The number of for sale properties is down 6% and the number of sold properties is down 11%

WHY I REPORT MEDIAN SALES PRICE VERSUS 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 utilizes 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. Fannie Mae understands the problem with using Average Sales Price and now demands home appraisers perform the 1004MC or Market Conditions form based on narrower “sub-market” parameters for comp search. This means that on a 2,000sf home, appraisers would be searching for comps with say 200sf below and above 2,000sf, say 1,800sf up to 2,200sf with similar ages and other similar characteristics.

NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of April 12, 2011 to April 12, 2012. This information was extracted on 04/12/2012.

Why did it take 692 Days To Sell 13711 Willow Ridge Ave Baton Rouge La 70817 Hickory Ridge Subdivision?

Baton Rouge Real Estate Appraisal — Tue, 10 Apr 2012 11:59:32 +0000

13711 Willow Ridge Ave Baton Rouge La 70817 Hickory Ridge Subdivision

On-site audio message about this recent sale that took 692 days on the market to sell.

On-site audio message about this recent sale that took 692 days on the market to sell.

listen to ‘13711 Willow Ridge Ave Baton Rouge La 70817 Hickory Ridge Subdivision ’ on Audioboo

This home was on the market for 692 days and had slab granite counters in Kitchen. The roof is fine, didn’t appear to need replacement as mentioned in audio. I don’t understand why it’s taking so long to sell these homes.

I wrote about this recently here: Baton Rouge Home Appraiser: Think Housing Out Of Woods onto Full Recovery? Think Again!

Zachary La Home Appraiser Advice On Buying A Home In Copper Mill Golf Community

Baton Rouge Real Estate Appraisal — Wed, 04 Apr 2012 10:00:49 +0000

http://www.zacharylouisianarealestate.info/ - Zachary La Home Appraiser Advice On Buying A Home In Copper Mill Golf Community.

NOTE: The Most Comprehensive Answer I provided is located here: Should You Buy That Zachary Copper Mill Golf Community Home?

I recently received an email from an out-of-state resident currently renting a home in South Baton Rouge. Here’s their question:

“We are looking to buy a home and have looked at Copper Mill in Zachary. From looking at the history of the resale homes that are currently for sale, and the comparables sold recently, it would appear that quite a few of the homes have lost value since being built or purchased. In your opinion, is this a reflection of the current state of the economy and therefore values should come back around as the economy recovers, or is this a reflection of the development itself? We like the area and may look at other neighborhoods, but we just want to be sure we understand what we are seeing in the numbers.”

My Answer is below and is based on the fact that buying a highend home is a very serious matter and that once you buy one and have paid too much, it’s not easy to get out from under those homes, as some in Copper Mill are finding out, those that paid $160/sf in 2007.

My opinion of Copper Mill is based on market reaction to this development, the obvious decline in values and the extremely long time it takes to sell homes in there. I have relatives that built 3 spec homes to sell in Copper Mill and have their personal experience to speak from as well. They did well on the first 2 but didn’t on the 3rd home, which took over 22 months to sell.

I think it has to do with the economy in general, the absolutely insane housing market that Hurricane Katrina created and the fact that it’s located in Zachary. Zachary is a fine place to raise a family and has the Top Public school district in the State there. However, it’s a small town with little industry or business base. I’ve often wondered how Zachary became to be what it is today based on all of those that have to commute to and from it without many jobs in the local community there. What I’m trying to say is that housing in Zachary is really high in my opinion for the location and the lack of economic base in Zachary.

POSITIVES IN COPPER MILL. Positives are that the average and median sales prices are at all time highs of $476,500 and marketing time is at 115 days, the lowest in many years. However, this is ONLY based on 2 total sales in 2012.

Copper Mill is a fine development, no doubt. However, those that bought early and financed nearly 100% are upside on their mortgages and will be for many years. Zachary and Copper Mill never were a sustainable $161/sf market and $161/sf was the high back in 2007. It’s been downhill ever since then from such lofty heights and I don’t expect values to climb that high again in Copper Mill. I attached the current chart showing support in 2012 for $145/sf BUT only based on 2 sales…..and there used to be 19 sales in a year in there.

I shot this video here http://www.hdhathomes.com/tours/699_tourb.html for 1595 Royal Troon I think in 2009 and that home is still be on the market, over 1227 days.

I wouldn’t buy a home in Copper Mill unless it’s at a very discounted price in case prices fall even further in there. In 2011, support was at $141.76/sf, the lowest since before Hurricane Katrina. Or, buy one of the smaller, less pricey homes in there, which should hold it’s value better even if there’s another correction.

And, now that the Robosigning $25 Billiion lawsuit has been settled, any homes that weren’t foreclosed on because of this suit, can now be. I don’t know if this will impact any homes in Copper Mill, but it could.

Is 2012 the year of recovery for Copper Mill or do we need to correct our thinking into a new lower reality that $145/sf is a more sane level of pricing for the high end Zachary market? I doubt a full recovery, but we’ve already witnessed a 4/sf +/- increase so far. I think any recovery will take years to happen and that $141 to $147/sf is a much more realistic pricing level for this market. We know that “Cost Doesn’t Equal Market Value” and this has been made very evident in outlying markets such as Zachary and Denham Springs.

MY ADVICE FOR COPPER MILL. My advice would be to scale it down in Copper Mill, just as the newest filing is offering smaller, more affordable high quality homes (smaller lots, smaller homes, same quality). It appears $300,000 to $400,000 is more realistic for Zachary buyers AND the new sign on Main Street now touts homes starting in the $300′s. This is also taking place in Lexington Estates in 70810 where it’s been difficult to sell high end homes (New Phase is offering more affordable lots with smaller home sizes).

Greater Baton Rouge Housing is still overpriced and I would highly recommend a Pre-Listing Appraisal before your purchase. I generally charge around $275 for these in the over $400K range: http://www.gbrprelistingappraisals.com/

NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of January 1, 2006 to April 04, 2012. This information was extracted on 04/04/2012.

Hope this somehow helps you.
Bill Cobb, Appraiser

Baton Rouge Real Estate Housing Is A Great Investment For The Family

Baton Rouge Real Estate Appraisal — Wed, 04 Apr 2012 00:30:28 +0000

Baton Rouge Real Estate Housing Is A Great Investment For The Family

Baton Rouge is a superb spot to settle lower and invest. It’s a city full of enormous charm and hospitality. The prettiest factor relating to this place is it has got the charm of the suburbs using the efficiency of the city.

In Baton Rouge, the main city city, you will find activities for everybody, for example sporting occasions, museums and opera. There’s an abundance of wonderful music, many festivals, great food as well as some college sporting occasions to look at.

Baton Rouge also offers many across the country known schools and several private and public schools to ensure that students can continue the amount. A myriad of employees will find many job possibilities here. Each one of these reasons inspire individuals to decide to relocate to Baton Rouge and purchase real estate market.

Many people rent throughout Baton Rouge, so this is often a great chance for individuals attempting to own apartment to enhance their earnings. Some book multi-family houses because they may be leased to families to make money after which eventually offered out.

Others decide to buy a single home either to reside in themselves or book. Since you will find many university students in the region, you might want to consider purchasing a house in New Orleans in addition to getting apartment for that students.

Make certain you begin a plan for you to ultimately see what you could afford to ensure that you aren’t getting right into a bad finances. Before you begin searching for a house a minimum of you are able to plan the utmost budget you really can afford to spare for investment.

If you are looking at buying a home in Baton Rouge, make certain you discover a realtor that you could trust. The very best agent for you personally is definitely an experienced professional who’ll pay attention to you goals and anticipation and try to carry themselves within an ethical manner. Also see if the agent you select includes a good status.

A great agent knows a good deal concerning the market situation and become licensed either being an agent or broker. Among the best methods to find a realtor would be to request buddies, family, neighbors and colleagues.

You may also request other professionals for example loan officials or large financial company about some agents who they use. These folks people provides you with a firsthand experience on their own encounters using the agent. You may even want to find a real estate agent online.

You might attend open houses where one can meet realtors and connect to them. Collect contact details for example business card printing and take notes on whether your representative is professional, kind or honest. Many agents also run advertisements to advertise their agencies and houses so that you can also give them a call and request them many questions regarding their experience.

Baton Rouge could be a good way not only to live but additionally to take a position. Make certain you discover a realtor who you can rely on and who are able to find a house that’s well affordable.

Baton Rouge Home Appraiser: Think Housing Out Of Woods onto Full Recovery? Think Again!

Baton Rouge Real Estate Appraisal — Tue, 03 Apr 2012 19:12:33 +0000

Think Baton Rouge Housing Is Totally Out Of The Woods onto Recovery? Think Again!

Check this image out of MLS Area 43 Shenandoah / Hickory Ridge / Woodlawn Estates.

While the number of home sales are increasing, prices are not necessarily and that all depends on price range. Some areas are doing better than others and over $500K+ is a totally different market than under $500K. In the $175,000 to $225,000 market last night, I was using comps with DOM’s or Days On Market of 692, 619, 830, 120, 91 and 31 and then Pending listings of 493 and 127 days on market. I didn’t know that part of the market was took that long to sell. And, there were very few recent sold comps to use from within Shenandoah Estates itself where the subject is located. And, 3 of these homes had new slab granite and were well prepared for the market and still took over a year to sell. Some from late 1970′s still had that hideous dated white or wood grain formica pattern in Kitchens. While the market overall is improving, there’s a hangover of the 2010-2011 softness still around into and within the 2012 market.

THIS IS WHY I CAUTION LOCALS ON NOT “OVERPAYING” FOR LOCAL HOUSING, ESPECIALLY NEW CONSTRUCTION! Obtaining A Greater Baton Rouge Pre-Listing Appraisal is a smart move in this Post Hurricane Katrina housing market.

NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of January 1, 2011 to April 3, 2012. This information was extracted on 04/01/2012.

Baton Rouge Bocage Jefferson Place Homes Photos

Baton Rouge Real Estate Appraisal — Tue, 03 Apr 2012 02:08:05 +0000

Baton Rouge Home Appraiser Photos From The Field: Baton Rouge Bocage Jefferson Place Subdivision Homes Photos

Home Below Recently Sold for $1,300,000 Cash Sale! An A Hays Town Beauty!

Home Below Sold for $780,000 In 2011!

Home Below Recently Sold for $1,415,000 Cash Sale Before The Renovation Project!

Baton Rouge Home Appraisers Offer Comprehensive Cumulative March 2012 Home Sales Numbers

Baton Rouge Real Estate Appraisal — Mon, 19 Mar 2012 04:56:30 +0000

Greater Baton Rouge Week In Review For Housing In Nine (9) Parish MSA Housing Statistics For 03/11/2012 – 03/17/2012 by Bill Cobb Appraiser with Accurate Valuations Group.

Highlights. GOOD NEWS!

24% of ALL listing inventory is pending.
80% of listing inventory IS NOT DISTRESSED

12% Increase In 2012 YTD. Total Number of Sales as of 03/17/2012 were 1155. By 03/17/2011, we had 1,028 sales, which is a +12% increase YTD for 2012.

DISTRESSED SALES, EXCEPT FOR SHORT SALES, NOT A MAJOR CONCERN. YES, 494 or 43% of ALL solds in 2012 were distressed in nature. However, vast majority have sales prices $92K to $111K range, far below the normal $158K to $200K GBR price range.

NOTE: GBR Nine Parish MSA is defined by the Baton Rouge Chamber of Commerce per this map below.

NOTE: Previous 2012 Week In Review Baton Rouge Real Estate Numbers Archives Are Here

___________________________________________________________________

LISTINGS (All Properties):

Total Current Active Pending Contingent Listings: 5,443

Currently Pending as of 03/18/2012: 1322 or 24% of ALL Inventory

New Listings This Week: 203

Foreclosure Listings: 518 or 10% of total listings

3rd Party Active Listings: 327 or 6% of total listings

Short Sale Active or Potential SS Listings: 255 or 5% of total listings

Foreclosure, 3rd Party and Short Sales Potential: 1100 or 20% of ALL Listings

80% ARE NOT DISTRESSED LISTINGS

_____________________________________________________________________

SOLDS From 03/11/2012 – 03/17/2012 (All Properties):

Total Number of Solds: 86 (101 The Prior Week)

Median Sold Price: $154,300 ($159,000 The Prior Week)

Average Sold Price: $163,913 ($192,698 The Prior Week)

Average Sold Price Per Sq. Ft.: $92.51 ($94.59 The Prior Week)

Average Continuous Days On Market: 143

Listing-To-Sales-Price Ratio: 97%

Low To High Sales Prices: $14,900 to $470,000

Low Sales Price $14,900 6377 Beechwood Drive

High Sales Price $470,000 19523 Arcadian Shores Ave in Santa Maria

New Home Sales: 14 or 11% of all sales

MLS Area With Most Sales: 90 with 11

East Baton Rouge MLS Area With Most Sales: 43 With 10 Sales

Foreclosures Sold: 23 or 26% of Solds

3rd Party Solds: 13 or 15% of total solds

Short Sales Solds: 1 or 1% of total solds

Foreclosure, 3rd Party and Short Sales Solds: 37 or 43% of all solds

_________________________________________________________________________

CUMULATIVE TOTALS FOR 2012

Total Number of Sales: 1155

ASCENSION: 245

EAST BATON ROUGE: 604

EAST FELICIANA: 8

LIVINGSTON: 215

IBERVILLE: 20

POINTE COUPEE: 24

ST HELENA: 1

WEST BATON ROUGE: 34

WEST FELICIANA: 4

NOTE: 1098 or 95% of Home Sales Took Place in Closest ASC, EBR, LIV and WBR Parishes.

Foreclosures Sold YES: 262 or 23% of Solds

3rd Party Solds YES: 128 or 11% of total solds

Short Sales Solds YES: 104 or 9% of total solds

Foreclosure, 3rd Party and Short Sales Solds: 494 or 43% of all solds

AGAIN NOTE: For 2012, 1155 total sales with 494 or 43% of ALL sales being distressed in some form doesn’t appear to be a major concern and here’s why. Of the 262 Distressed Sales in 2012, the average sales price is $110,522 and median $92,400. Of the 128 3rd Party Sales in 2012, the average sales price is $145,389 and median $117,000. Of the 104 Short Sales in 2012, the average sales price is $200,221 and median $160,000, which is some concern and 9% of ALL sales in 2012. The point here is that the vast majority of distressed sales are taking place are far, far below the typical price range in Baton Rouge, the $158,000 to $200,000 range.

CUMULATIVE TOTALS FOR 2012 BY MSA / PARISH:

NOTE: “OTHER” below represents EAST FELICIANA: IBERVILLE, POINTE COUPEE, ST HELENA, WEST BATON ROUGE, WEST FELICIANA.

CUMULATIVE MEDIAN SALES PRICES FOR LOCAL PARISHES:

EAST BATON ROUGE: $162,950

ASCENSION: $183,900

LIVINGSTON: $139,000

OTHER: $174,000

ALL MSA: $160,000

CUMULATIVE AVERAGE SALES PRICES FOR LOCAL PARISHES:

EAST BATON ROUGE: $194,727

ASCENSION: $200,700

LIVINGSTON: $142,454

OTHER: $190,050

ALL MSA: $185,895

CUMULATIVE AVERAGE SALES PRICE PER SQ. FT. FOR 9 PARISH MSA YTD:

EAST BATON ROUGE: $89/sf

ASCENSION: $89/sf

LIVINGSTON: $84/sf

OTHER: $89/sf

ALL MSA: $89/sf

CUMULATIVE AVERAGE DAYS ON MARKET (CONTINUOUS):

EAST BATON ROUGE: 137

ASCENSION: 149

LIVINGSTON: 138

OTHER: 185

ALL MSA: 143

CUMULATIVE LISTING-TO-SALES PRICE RATIO (What Percent Below Listing Price Home Sell For):

EAST BATON ROUGE: 97%

ASCENSION: 98%

LIVINGSTON: 97%

OTHER: 95%

ALL MSA: 97%

CUMULATIVE NUMBER LISTINGS CURRENTLY PENDING:

EAST BATON ROUGE: 708

ASCENSION: 266

LIVINGSTON: 245

OTHER: 103

ALL MSA: 1322

CUMULATIVE NUMBER NEW LISTINGS:

EAST BATON ROUGE: 1433

ASCENSION: 453

LIVINGSTON: 450

OTHER: 227

ALL MSA: 2563

CUMULATIVE NUMBER SOLD LISTINGS:

EAST BATON ROUGE: 604

ASCENSION: 245

LIVINGSTON: 215

OTHER: 91

ALL MSA: 1155

________________________________________________________________________

WHY MEDIAN SALES PRICE IS A MUCH MORE RELIABLE AND ACCURATE REPRESENTATION OF A HOUSING MARKET VERSUS AVERAGE SALES PRICE?

NOTE: When there are very odd $1,980,000 home sales in the GBR Housing Market, this only significantly skews the Average Sales Price higher and creates a misleading uptick in overall home prices. Median Sales Prices aren’t that faulty and even out the extremes and represent the generl housing market versus the extremes. Even the authority “Altos Research” doesn’t even report Average Sales Price but rather Median Sales Price and Median Sales Price Per Square Foot, such as in this example for Baton Rouge Housing:

NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of 03/11/2012 to 03/17/2012. This information was extracted on 03/18/2012.

Baton Rouge Home Appraiser Photos From The Field: 2012 University Club Home Sales

Baton Rouge Real Estate Appraisal — Sat, 17 Mar 2012 05:15:38 +0000

http://www.batonrougerealestateappraisal.com/ – Baton Rouge Home Appraiser Photos From The Field: Six 2012 University Club Home Sales from low to high sales prices.

2012 University Club Plantation homes sales, based on 6 total sales, have an average sales price of $598,000, median sales price of $579,000, average sold price per square foot of $156/sf, average size of 3,820sf and average days on the market of 124 days.

15557 Memoire Drive $399,900 or $144/sf for 2,784sf

3111 Longleaf Ct $447,000 or $165/sf for 2,701sf

14940 Reveille Avenue $507,500 or $165/sf for 3,074sf

15011 Tower Court $650,000 or $142/sf for 4,576sf

14515 Memorial Tower Drive $677,000 or $150/sf for 4,520sf

3114 Coates Crossing $905,000 or $172/sf for 5,262sf

New 2012 Addition on Rue D’Orleans Custom Built

NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of January 1, 2012 to March 16, 2012. This information was extracted on 03/16/2012. YES, this appraiser does have the permission of GBRMLS to use the chart above Subdivision Price Trends Report!

Baton Rouge Real Estate Appraisers Report 2012 Home Sales Numbers

Baton Rouge Real Estate Appraisal — Sat, 10 Mar 2012 19:39:00 +0000

Greater Baton Rouge MSA Housing Statistics For 03/04/2012 – 03/10/2012:

NOTE: Previous 2012 Week In Review Baton Rouge Real Estate Numbers Archives Are Here

SOLDS From 03/04/2012 – 03/10/2012:

Total Number of Solds: 101 (152 The Prior Week)

Average Sold Price: $192,698

Median Sold Price: $159,000

Average Sold Price Per Sq. Ft.: $94.59

Average Continuous Days On Market: 149

Listing-To-Sales-Price Ratio: 97%

Low To High Sales Prices: $11,600 to $900,000

Low Sales Price $11,600, 2375 Desoto Drive MLS Photo

High Sales Price $900,000, 1161 S Cloverdale Drive MLS Photo

New Home Sales: 17 or 11% of all sales

MLS Area With Most Sales: 43 with 11

East Baton Rouge MLS Area With Most Sales: 43 With 11 Sales

Foreclosures Sold: 26 or 26% of Solds

3rd Party Solds: 16 or 16% of total solds

Short Sales Solds: 4 or 4% of total solds

Foreclosure, 3rd Party and Short Sales Solds: 46 or 46% of all solds

CUMULATIVE TOTALS FOR 2012

Total Number of Sales: 1068

ASCENSION: 230

EAST BATON ROUGE: 551

EAST FELICIANA: 8

LIVINGSTON: 203

IBERVILLE: 16

POINTE COUPEE: 23

WEST BATON ROUGE: 33

WEST FELICIANA: 4

NOTE: 1017 or 95% of Home Sales Took Place in ASC, EBR, LIV and WBR Parishes.

Foreclosures Sold YES: 238 or 22% of Solds

3rd Party Solds YES: 115 or 11% of total solds

Short Sales Solds YES: 103 or 10% of total solds

Foreclosure, 3rd Party and Short Sales Solds: 456 or 43% of all solds

CUMULATIVE TOTALS FOR 2012 BY MSA / PARISH:

CUMULATIVE AVERAGE SALES PRICES FOR LOCAL PARISHES:

EAST BATON ROUGE: $198,066

ASCENSION: $201,350

LIVINGSTON: $142,607

OTHER: $192,758

ALL MSA: $187,811

CUMULATIVE MEDIAN SALES PRICES FOR LOCAL PARISHES:

EAST BATON ROUGE: $164,700

ASCENSION: $183,900

LIVINGSTON: $138,000

OTHER: $173,950

ALL MSA: $161,250

CUMULATIVE AVERAGE DAYS ON MARKET (CONTINUOUS):

EAST BATON ROUGE: 133

ASCENSION: 155

LIVINGSTON: 139

OTHER: 187

ALL MSA: 143

CUMULATIVE LISTING-TO-SALES PRICE RATIO (What Percent Below Listing Price Home Sell For):

EAST BATON ROUGE: 97%

ASCENSION: 98%

LIVINGSTON: 97%

OTHER: 95%

ALL MSA: 97%

CUMULATIVE NUMBER LISTINGS CURRENTLY PENDING:

EAST BATON ROUGE: 708

ASCENSION: 266

LIVINGSTON: 245

OTHER: 102

ALL MSA: 1321

CUMULATIVE NUMBER NEW LISTINGS:

EAST BATON ROUGE: 1311

ASCENSION: 417

LIVINGSTON: 420

OTHER: 211

ALL MSA: 2359

CUMULATIVE NUMBER SOLD LISTINGS:

EAST BATON ROUGE: 551

ASCENSION: 230

LIVINGSTON: 203

OTHER: 84

ALL MSA: 1068

WHY MEDIAN SALES PRICE IS A MUCH MORE RELIABLE AND ACCURATE REPRESENTATION OF A HOUSING MARKET VERSUS AVERAGE SALES PRICE?

NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of 03/04/2012 to 03/10/2012. This information was extracted on 03/18/2012.

Baton Rouge FHA Appraiser Explains ANSI Standards 5′ Sloping Wall Height Rule

Baton Rouge Real Estate Appraisal — Sat, 10 Mar 2012 08:42:20 +0000

http://www.appraisersinbatonrouge.com/ – Baton Rouge FHA Appraiser Explains ANSI Standards 5′ Sloping Wall Height Rule

Based on my experience, the ANSI 5′ Slanted Wall Height Rule is one of the most misunderstood or ignored rules for measuring homes. I recently took the time to draw a diagram illustrating the rule based on ANSI Standards, Z765-1996, Page 2, which states,

“ To be included in finished square footage calculations, finished areas must have a ceiling height of at least 7 feet except: under beams, ducts, and other obstructions where the height may be 6 feet 4 inches; under stairs where there is no specified height requirement; or where the ceiling is sloped. If a room’s ceiling is sloped, at least one-half of the finished square footage in that room must have a vertical ceiling height of at least 7 feet; no portion of the finished area that has a height of less than 5 feet may be included in finished square footage.”

See the Diagram and Video Below:

Author’s Bio:

Bill Cobb, CREA, is Greater Baton Rouge’s favorite and most reputable home appraiser frequently called upon by banks, homeowners, and savvy real estate investors to assess property values. A home appraiser with 17 years experience, Bill Cobb brings a wealth of knowledge to the table as a home appraiser.
Bill’s company, Accurate Valuations Home Appraisal Group, serves Greater Baton Rouge (East Baton Rouge Parish, West Baton Rouge Parish, Western Livingston Parish and Northern Ascension Parish).

Contact Bill Cobb and Accurate Valuations Home Appraisal Group for your next home appraisal:

Office: 225-293-1500

Cell: 225-953-0638
Fax: 1-866-663-6065

fastvalue2@cox.net

http://www.getfastvalue.com

Greater Baton Rouge’s Housing News Reporter is Bill Cobb Appraiser

Baton Rouge Real Estate Appraisal — Mon, 05 Mar 2012 15:03:07 +0000

http://www.batonrougehousingreports.com/ – Greater Baton Rouge’s Housing News Reporter is Bill Cobb Appraiser.

With 20 years experience as a Louisiana Home Appraiser and editor of several local housing related websites, Bill Cobb brings a wealth of knowledge and experience to Greater Baton Rouge Housing. From the Greater Baton Rouge Housing Week In Review segment to Greater Baton Rouge Monthly Housing Studies . To Baton Rouge Real Estate Buzz to Denham Springs Housing News . From Ascension Parish Housing News to Zachary La Housing News . From West Baton Rouge Housing News to Videos of Baton Rouge Real Estate News .

From Baton Rouge Market Metrics Subdivision Studies to Baton Rouge Residential Real Estate Trends, Bill Cobb Appraiser is THE SOURCE for Greater Housing News!

Shenandoah Estates New Entrance Sign and iPhone Pro HDR App Home Photos

Baton Rouge Real Estate Appraisal — Fri, 24 Feb 2012 09:27:04 +0000

http://www.batonrougerealestateappraisal.com/ – Shenandoah Estates New Entrance Sign and iPhone Pro HDR App Home Photos

Here’s Shenandoah Estates new entrance sign near George O’Neal Road.

Don’t Believe Central Greenwell Springs Home Values Declined Since 2008? Think Again!

Baton Rouge Real Estate Appraisal — Mon, 20 Feb 2012 04:59:02 +0000

Don’t Believe Central Greenwell Springs Home Values Declined Since 2008? Think Again!

I’m working a Greater Baton Rouge Pre-Listing Appraisal for a local REALTORÂ®. This home sold in 2008 between a price of $127,000 to $129,000. 2008 was the year Cedar Mill Run reached an all time high of $102.09/sf. Since 2008, sold prices per sq. ft. have declined from $101/sf, $100/sf and $92/sf in 2011. That’s Right, in 2011, there were 9 total home sales averaging $119,470, $92.33/sf and median $120,900, which is a correction. In fact, home sales have slowed in Cedar Mill Run, so much so that I only have 2 home sales to use that sold in the previous 6 months, in 09/2011 and in 12/2011. This is very odd for this development. Furthermore, there’s 9 competing listings in Cedar Mill Run, which is added competition and a high number of listings. The home I’m appraising, that sold between $127,000 to $129,000 in 2008, is having problems selling and it’s one of the newer homes in updated condition. It appears the evenutal sales price will be in the low $120′s, meaning the owners are currently upside down and resulting in a potential loss of $4,000 to $8,000.

THE POINT. So, YES, it’s possible to be upside down in Greater Baton Rouge Real Estate and despite a great school system in Central, home values, at least in Cedar Mill Run, have corrected somewhat.

Bill Cobb with Accurate Valuations Home Appraisal Group (AVG) Serves The Greater Baton Rouge Metroplex With Boundaries North by Zachary, South by Sorrento, West by Port Allen and East by Livingston.

Contact Information:
Accurate Valuations Home Appraisal Group
P.O. Box 40515, Baton Rouge, LA 70835
Baton Rouge Office: 225.293.1500
Toll Free: 1.888.678.3544
Toll Free Fax: 1.866.663.6065
Denham Springs Office – Local #: 225.709.6013
Staff Email: info@accuratevg.com
Website: http://www.accuratevg.com/

NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of January 1, 2005 to December 31, 2011. This information was extracted on 01/16/2012.

What’s Your Baton Rouge Home Worth? Pre-Listing Appraisals Provide Answers

Baton Rouge Real Estate Appraisal — Mon, 20 Feb 2012 00:40:14 +0000

http://www.gbrprelistingappraisals.com/ – What’s Your Greater Baton Rouge Home Worth? Pre-Listing Appraisals Provide Answers! Order a GBR Pre-Listing Appraisal here.

Confused About Listing Your Home? Whether Listing FSBO (For Sale By Owner) or With A Local Real Estate Agent, You Need A Pre-Listing Appraisal! WHY? Watch The Video Below! ANSWER: To Make Sure That A Real Estate Professional Measures Your Home Based on National ANSI Standards For Accurate Living Area Size and Then Prices Your Home Based On That Accurate Size.

Baton Rouge Home Sellers And Buyers Lose Money or Pay Too Much Without Listing Appraisal. Order A Pre-Listing Appraisal So You Don’t Undersell Your Home. Order A Pre-Purchase Appraisal So You Don’t Over Pay For A Home!

Accurate Valuations Home Appraisal Group (AVG) Serves The Greater Baton Rouge Metroplex With Boundaries North by Zachary, South by Sorrento, West by Port Allen and East by Livingston.
Contact Information:
Accurate Valuations Home Appraisal Group
P.O. Box 40515, Baton Rouge, LA 70835
Baton Rouge Office: 225.293.1500
Toll Free: 1.888.678.3544
Toll Free Fax: 1.866.663.6065
Denham Springs Office – Local #: 225.709.6013
Staff Email: fastvalue2@cox.net
Website: http://www.accuratevg.com/

http://www.gbrprelistingappraisals.com/

http://www.gbrprepurchasehomeappraisals.com/

Baton Rouge Real Estate Appraisals: Westdale Heights Home Photos

Baton Rouge Real Estate Appraisal — Sun, 19 Feb 2012 05:00:24 +0000

http://www.batonrougerealestateappraisal.com/ – Baton Rouge Real Estate Appraisals: Westdale Heights Home Photos

I recently completed a Home Appraisal in Westdale Heights and snapped these photos of this beautiful subdivision in 70808.

Baton Rouge Home Appraisers Provide January 2012 Market Report

Baton Rouge Real Estate Appraisal — Tue, 31 Jan 2012 11:36:45 +0000

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

In this Baton Rouge Housing updating, January 22-28, 2012 are reported for the eight (8) parish MSA including East Baton Rouge, Ascension, Livingston and West Baton with Iberville, East and West Feliciana and Pointe Coupee combined as “ALL”.

Other Greater Baton Rouge Housing Statistics January 22-28:

LISTINGS:

Total Current Listings: 5,035

Foreclosure Listings: 490 or 10% of total listings

3rd Party Active Listings: 330 or 7% of total listings

Short Sale Active or Potential SS Listings: 250 or 5% of total listings

SOLDS From 01/22/2012 – 01/28/2012:

Total Number of Solds: 65

Foreclosures Sold: 14 or 22% of Solds

3rd Party Solds: 8 or 12% of total solds

Short Sales Solds: 8 or 12% of total solds

Foreclosure, 3rd Party and Short Sales Solds: 30 or 46% of all solds

Low To High Sales Prices: $16,000 to $475,000

New Home Sales: 18 or 28% of all sales

East Baton Rouge MLS Area with most home sales: 43 with 9 sales

CUMULATIVE TOTALS FOR 2012Total Number of Sales: 290

ASCENSION: 65
EAST BATON ROUGE: 149
EAST FELICIANA: 0
LIVINGSTON: 59
IBERVILLE: 2
POINTE COUPEE: 8
WEST BATON ROUGE: 6
WEST FELICIANA: 1

Foreclosures Sold: 69 or 24% of Solds

3rd Party Solds: 33 or 11% of total solds

Short Sales Solds: 47 or 16% of total solds

Foreclosure, 3rd Party and Short Sales Solds: 149 or 51% of all solds

AVERAGE SALES PRICES FOR LOCAL PARISHES:
EAST BATON ROUGE: $192,043
ASCENSION: $190,747
LIVINGSTON: $144,439
OTHER: $158,993

MEDIAN SALES PRICES FOR LOCAL PARISHES:
EAST BATON ROUGE: $158,500
ASCENSION: $166,450
LIVINGSTON: $138,900
OTHER: $159,900

AVERAGE DAYS ON MARKET (CONTINUOUS):
EAST BATON ROUGE: 116
ASCENSION: 105
LIVINGSTON: 133
OTHER: 157

LISTING-TO-SALES PRICE RATIO (What Percent Below Listing Price Home Sell For):
EAST BATON ROUGE: 97%
ASCENSION: 99%
LIVINGSTON: 97%
OTHER: 92%

_____________________________________________________________________

Important Video: Foreclosure Mythbusting by John C. Jones

_____________________________________________________________________

OTHER NATIONAL AND LOCAL HOUSING NEWS:

December Existing-Home Sales Show Uptrend

Investors With Cash Place Downward Pressure on Home Prices

Rise In Home Sales Signifies Strengthening Market: Economists

Weak December ends poor year for U.S. home building

Housing Crisis to End in 2012 as Banks Loosen Credit Standards

Absorption rates to improve across all property types in 2012

New mortgage originations drop 30% in November, loan delinquencies decline

December plunge leaves East Baton Rouge building permits down 3.5% in 2011

Report says B.R. housing is ‘moderately unaffordable’

Business Report Releases Baton Rouge’s 10 most expensive home sales of 2011

Juban Crossing Developer: Site work continues; deals with retailers in the works

Ascension Parish Real Estate Market Stats for December 2011

_____________________________________________________________________

NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of 01/01/2012 to 01/28/2012. This information was extracted on 01/29/2012. Excludes Manufactured Housing.

Real Estate Appraiser Appraisals Baton Rouge, Louisiana

Baton Rouge Real Estate Appraisal — Mon, 23 Jan 2012 08:51:38 +0000

http://www.batonrougerealestateappraisal.com/ – Real Estate Appraiser Appraisals Baton Rouge, Louisiana. When you need Greater Baton Rouge Home Appraisals completed, call Bill Cobb 225-293-1500 or email us at info@accuratevg.com.

Greater Baton Rouge Home Appraiser, Bill Cobb, has been appraising homes or houses now for 21 years, 2 years in the Alexandria LA metro area and 19 years in the Greater Baton Rouge Housing Market. Bill’s specialty is:

Baton Rouge Pre-Purchase Home Appraisals

and

Baton Rouge Pre-Listing Home Appraisals

Accurate Valuations Home Appraisal Group (AVG) Serves The Greater Baton Rouge Metroplex!

With Boundaries North by Zachary, South by Sorrento, West by Port Allen and East by Livingston.

Contact Information:
Accurate Valuations Group (Home Appraisals)
P.O. Box 40515
Baton Rouge, LA 70835
Baton Rouge Office: 225-293-1500
Toll Free: 1-888-678-3544
Toll Free Fax: 1-866-663-6065
Denham Springs Office – Local #: 225-709-6013
Staff Email: info@accuratevg.com
Website: http://www.accuratevg.com/

Before Writing Purchase Agreement, Baton Rouge Home Buyers Need Pre-Purchase Appraisal

Baton Rouge Real Estate Appraisal — Wed, 11 Jan 2012 06:34:32 +0000

http://www.gbrprepurchasehomeappraisals.com/ – Greater Baton Rouge Pre-Purchase Home Appraisals. When you need Greater Baton Rouge Pre-Purchase Home Appraisal completed, call Bill Cobb 225-293-1500 or email us at info@accuratevg.com.

Why Baton Rouge Home Buyers Need Pre-Purchase Appraisal Before Writing Purchase Agreement? Because the nation’s home prices have fallen 33% from their 2006 peak and some sellers are in denial and asking too much for their homes…that’ why. In today’s Greater Baton Rouge Housing Market, you stand to pay too much when the market will still be correcting into 2012!

The source for the statement above is provided below from Businessreport.com Daily PM Report for 01/10/2012.

Don’t overpay in a housing correction that is to continue into 2012.

Obtain a Pre-Purchase Appraisal from Bill Cobb at Accurate Valuations Group.

Greater Baton Rouge Home Appraiser, Bill Cobb, has been appraising homes or houses now for 20 years, 2 years in the Alexandria LA metro area and 18 years in the Greater Baton Rouge Housing Market. Bill’s specialty is:

Baton Rouge Pre-Purchase Home Appraisals

and

Baton Rouge Pre-Listing Home Appraisals

Accurate Valuations Home Appraisal Group (AVG) Serves The Greater Baton Rouge Metroplex!

With Boundaries North by Zachary, South by Sorrento, West by Port Allen and East by Livingston.

Difference Between Baton Rouge Home Appraisals Versus Home Inspections

Baton Rouge Real Estate Appraisal — Tue, 10 Jan 2012 20:08:28 +0000

http://www.batonrougerealestateappraisal.com/ - Difference Between Baton Rouge Home Appraisals Versus Home Inspections In A Mortgage Loan Process.

The Home Appraiser is hired by the bank to decide the estimated market value of a house. The Appraisal Report protects the Bank or Lender and not the home buyer. The buyer pays for the home appraisal and that price will depend on if the lender is employing a third party to order the appraisal. Depending on how the appraisal is ordered from the Bank, the cost can range from $350 up to $600, the higher price is if an AMC or Appraisal Management Company is hired (a middle-man that orders, reviews and delivers the report by hiring local home appraisers).

Home Appraiser’s inspection generally consists of an inspection of the neighborhood first, then measuring the home based on national ANSI standards, taking lots of required photos of interior and exterior and determining condition and quality level of home. Appraiser takes this “subject” data and compares other recent home sales in the same market, applies market adjustments of pluses and minuses for differences and arrives at an estimated value. NOTE: Home Appraiser condition inspection is limited to what can obviously be seen with the eye, at eye level. An Appraiser inspection is not a roofing inspection, hot water heater inspection or central heat and air inspection, the major expensive items that tend to lead home buyers into believing that home appraisers should inspect these items and guarantee them.

Call or email Accurate Valuations Group for more details: 225-293-1500 or info@accuratevg.com.

FHA even protects the Appraiser with this form below presented to buyers that tells them to “Get A Home Inspection”!

Home Inspections inspect detailed condition. are a very detailed inspection of various items around the home and inside the walls, attic and underneath the home if there’s crawl space. Inspectors can inspect things like pest control, roofing, chimney, electrical, plumbing, for harmful mold and other negatives that might cost the buyer money in repairs soon after they buy the home. They are hired by the buyer to inspect the condition of the home on the day of inspection.

The home inspection fee is normally paid by the buyer. The costs for home inspections is not known and is really based on the size and complexity of the home. Naturally, the longer the inspection will take, the higher the fee.

There are TWO (2) local Greater Baton Rouge Home Inspectors I recommend because I’ve known each of them for years now and can count on them to do their job right and not sorry that I referred them.

Kevin Dinkel, Advantage Services, 225-753-8114 email info@extramileteam.com

James Bohac, Alltell Home Inspection 225-806-7572 4alltell@cox.net

Baton Rouge Home Appraiser Calls 2011 The Year Of Correction For Baton Rouge Housing!

Baton Rouge Real Estate Appraisal — Tue, 27 Dec 2011 19:42:02 +0000

Baton Rouge Home Appraiser Calls 2011 The Year Of Correction For Baton Rouge Housing!, See Below.

Baton Rouge Housing Reports Dot Com says,

2011: The Year Of Correction For East Baton Rouge Real Estate Prices .

See the complete report at the link above.

The well anticipated correction in local home prices, based on local incomes, the insane escalation of home prices after Hurricane Katrina, and the same housing euphoria that gripped our Nation from 2004 to 2007, has finally arrived. Despite the appearance of only a -2.13% decline, most of the 25 subdivisions examined belwo show far worse percentage declines indicating that for Baton Rouge Real Estate, 2011 was the anticipated “Year of Correction”!

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

Video: Baton Rouge Divorce And Your Home Options

Baton Rouge Real Estate Appraisal — Sat, 24 Dec 2011 14:10:24 +0000

http://batonrougedivorceappraisals.com/ – Video: Baton Rouge Divorce And Your Home Options!

I wanted to share this video regarding divorce and the possible home options available. This video was created by Jamey Milheiser, a mortgage professional. Yes, he does represent another State in the USA, but his video and the questions he helps answer may also help locals as well.

Jamey covers:

1.) You do have options when it comes to your property.

2.) “I think I want to stay in the home……what do I need to keep in mind?”

3.) “My spouse is entitled to share in the equity we have in our home……how is this handled?”

4.) “What if I am the one leaving the home?”

5.) “How might divorce impact my credit?”

6.) “If I want to buy another home–am I going to be out of luck while I am still listed on the old mortgage?”

Visit: Divorce And Your Home Options to watch Jamey’s video and read his answers.

Greater Baton Rouge Real Estate News Video Resource: http://www.batonrougehousingreports.com/

Baton Rouge Real Estate Appraisal — Sat, 10 Dec 2011 05:59:21 +0000

Baton Rouge Real Estate News Video Resource: http://www.batonrougehousingreports.com/

Baton Rouge Real Estate News

Why Baton Rouge Housing Reports?

Because a home is the largest, most important investment most locals make in their lifetimes. Because of the importance of getting this decision right, housing market facts, trends and analysis are provided to help locals execute competent, informed home purchase or home selling decisions.

There’s a new Premier web video resource in Baton Rouge with a residential focus: Baton Rouge Housing Reports Dot Com. This site offers the good news in our market as well as the on-going correction, tips on what improvements really add value, local REALTOR® video update of the month, local real estate expert interviews, local remodeler’s tips, trends videos, monthly and quarterly reports, Top 150 Subivisions trends, current housing charts and stats, gbrmls stats, local NAR stats, special investigative series and a long list of local online resources. Visit Us for the scoop on local housing.

Baton Rouge Housing Reports Dot Com – Local Real Estate Professionals Providing Trends, Analysis & Tips Helping Locals Make Informed Housing Decisions!

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

Thinking of Buying A Nicholson Lakes Home Get A Pre-Listing Appraisal First Don’t Overpay

Baton Rouge Real Estate Appraisal — Sun, 04 Dec 2011 18:01:10 +0000

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

Nicholson Lakes Subdivision has experienced substantial declines since the 2007 highs, from $193,000 and $131/sf down to $174,000 and $116/sf in 2011. If you are considering a Baton Rouge Real Estate Home Purchased in Nicholson Lakes, I would strongly recommend obtaining a pre-listing appraisal so you don’t overpay as there are homes listed as high as $130/sf, which will not appraise for near that amount now in 2011.

NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of 01/01/2007 to 12/03/2011. This information was extracted on 12/03/2011.

Declining Baton Rouge Real Estate Market Looks Like This and Why It Would Cause Low Appraisals

Baton Rouge Real Estate Appraisal — Wed, 30 Nov 2011 07:47:00 +0000

http://www.batonrougehousingreports.com/ - A Declining Baton Rouge Real Estate Market Looks Like This and Why It Would Cause Low Appraisals. YES, I understand this is long video of 10 minutes, but it will help explain what lenders and appraisers are looking for when they “both” analyze a market.

In this video, local Greater Baton Rouge Appraiser, Bill Cobb, shows what a classic declining market looks like by MLS Chart and Appraisal and how such a weak market could certainly lead to a low appraisal.

Remember that we’re speaking of a specific segment of the Baker housing market in the 1600sf to 2500sf living area range. This study isn’t of the entire Baker housing market, but some of the general comments in the video do apply to the whole market.

This weak Baker Louisiana market had these characteristics: Very Slow Sales. Declining Median Sales Price. 22 Month Supply. 21 Competing Listings Is Oversupply when only 15 sold in previous 12 months. 93% List-To-Sales Price Ratio is weak. 2011 Baker Hills 6 sales, Median $62K, Avg Sold:$52/sf, Avg SP/LP%:97%, Avg DOM:126 Days. 33% Competing REO Sold Rate Since 1/2009.

NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of 01/01/2009 to 11/28/2011. This information was extracted on 11/28/2011.

VIDEOS: What Are These Baton Rouge Vote For Amendment #1 To Stay Tax Free Signs About?

Baton Rouge Real Estate Appraisal — Tue, 08 Nov 2011 11:16:58 +0000

What Are These Baton Rouge Vote For Amendment #1 To Stay Tax Free Signs About?

The Louisiana REALTORS® Association is supporting a constitutional amendment on the November 19th ballot to prohibit any new real estate transfer taxes in the state.

A vote FOR Amendment #1 on November 19 will…

*Protect your home from double taxation. Most homeowners in Louisiana already pay property taxes. Transfer taxes are simply another tax on the same piece of property.

*Keep Louisiana free from additional taxes, especially those that unfairly target homeowners and homebuyers.

If approved by Louisiana voters, we believe this will be an extremely positive development for residential and commercial consumers of real estate – and good for the overall real estate market and economy in Louisiana.

Monitor this important initiative thoughout the fall at STAYTAXFREE.com. Browse the site for related news, background on the issue, answers to frequently asked questions, and learn how you can get involved.

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

Baton Rouge Real Estate Appraisal — Tue, 18 Oct 2011 11:49:00 +0000

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

A St. Petersburg Florida REALTOR® and Appraiser has some advice for Greater Baton Rouge Locals when it comes to sell their home in this 2011 market: Stick To New Paint and Carpet To Get Your Home Sold.

There’s a new article out entitled, “Low Appraisals Blamed for Scuttling Real Estate Deals“. In the article, the reason given for Low Appraisals is, “Appraisals routinely come in under the negotiated sales price, often driven down by the glut of foreclosed houses and short sales with rock-bottom prices.”.

THE POINT OF THE ARTICLE IS TO CAUTION ON SPENDING TOO MUCH ON RENOVATIONS TO HELP GET THE HOME SOLD!

In the article, the “Capetz” family invested an extra $11,000 on a new roof and air conditioner to help their home sell ($11,000 for a new roof and central heat and air is really cheap). In July, they accepted an offer of $142,000 only to have the home sale fall through because home appraisal came in at only $130,000.

GOOD ADVICE! Quoted from the article, “Frank Gregoire, that St. Petersburg FL and Appraiser who headed the Florida Real Estate Appraisal Board for eight years during the housing boom, advised sellers to stick with new paint and carpet.

“If you make a major improvement, you should expect to enjoy that improvement. Don’t treat it as an investment,” he said. “It’s unlikely you’ll get what you paid for it.”

How Does This Apply To The Baton Rouge Housing Market? First, we’re talking about the under $150,000 market. Baton Rouge Housing Market doesn’t face near the number of foreclosures or short sales as in Florida. However, with that said, one (1) issue I see in Baton Rouge Housing is overimproved homes, thanks partially to HGTV. Example: A $95,000 home in a first time homebuyer starter neighborhood with $5,000 in Slab Granite Counters. Or, in the photo below, a $160,000+/- local economy home with an elaborate approximate $10,000 Kitchen Slab Granite Plus Tile Backsplash Upgrade of which the market still hasn’t chosen to pay for.

HGTV Ruined Some Homeowners! Since the early 2000′s, with easy credit and HGTV, some locals went overboard on overimproving their homes on items that the market didn’t reward them for at the time of resale. Instead of keeping their homes at the quality of construction levels typical in their subdivision, they chose to invest $15,000 to $50,000 above that level and thus overimprove on items that the market wouldn’t reward dollar-for-dollar on at resale time.

The Point Of This Baton Rouge Home Appraisal Article: When Updating Your Home for a listing, pay attention to your price range, what other homes in your subdivision have in terms of quality and mirror those homes and features. While Slab Granite Counters certainly help a home sell, they are not common nor a wise investment for homes under $150,000. If your home needs a new roof because it’s old and for the seller’s appraisal to pass and qualify for an FHA or RD financing, then that might be a wise purchase, which might not return dollar-for-dollar. It might be wise to stick with just new paint and carpet and if listings feedback says do more updates, then you can proceed further. And, if you need a Pre-Listing Appraisal to help properly and accurately price your home, visit: http://gbrprelistingappraisals.com/

NOTE: Frank Gregoire is a friend and Appraiser Peer of mine. Frank writes the “Appraiser Active Blog” and enjoys the leisure life as an Appraiser along with Florida Coast with his wife, Fran. And, Frank likes to rub this in on Facebook weekly about how spoiled he is to live, play and work in paradise!

Author: Bill Cobb with Accurate Valuations Group (Greater Baton Rouge Home Appraisals).

Image Source: Top Image Purchased @ Bigstockphoto.com

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

Baton Rouge Real Estate Appraisal — Tue, 18 Oct 2011 11:31:27 +0000

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

THE POINT OF THE ARTICLE IS TO CAUTION ON SPENDING TOO MUCH ON RENOVATIONS TO HELP GET THE HOME SOLD!

“If you make a major improvement, you should expect to enjoy that improvement. Don’t treat it as an investment,” he said. “It’s unlikely you’ll get what you paid for it.”

Author: Bill Cobb with Accurate Valuations Group (Greater Baton Rouge Home Appraisals).

Image Source: Top Image Purchased @ Bigstockphoto.com

Baton Rouge Neighborhoods: Shenandoah Estates Home Prices Correct -4.4% YTD in 2011

Baton Rouge Real Estate Appraisal — Wed, 14 Sep 2011 04:29:24 +0000

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

Correcting Average Sold Price Per Square Foot. An analysis of Shenandoah home sales prices from 2010 versus 2011 Year-To-Date shows a -4.4% decline or correction. In 2010, there were 46 total sales with an average sales price of $92.61/sf. In 2011 YTD, there has been 41 total sales with an average sales price of $88.55/sf, which calculates to a -4.4% loss. However, at $88.55/sf, this is only close to $1.00 off the 2006, 2008 and 2009 support levels. AND, with those homes set to close from summer buying season, the 2011 numbers could improve.

Correcting Average Sold Price and Median Sold Prices. These two (2) charts below show a fairly strong correction in sold prices since 2009 and September 2010. However, Shenandoah Estates is one of the largest subdivisions in Baton Rouge with varying sizes of homes. It did appear from analysis that more of the smaller homes sold in 2011 than in 2010 contributing to the visual declines below. No, I don’t believe it’s at all possible for declines of -19% since September 2010 as the median sold price chart shows. This is why I place the Average Sold Price Per Sq. Ft. chart above first in the series.

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

Author: Bill Cobb with Greater Baton Rouge’s Accurate Valuations Home Appraisal Group

Baton Rouge Real Estate Appraisal: MLS Area 43 Report For August 2011

Baton Rouge Real Estate Appraisal — Mon, 29 Aug 2011 06:23:42 +0000

http://batonrougerealestateappraisal.com/ – Baton Rouge Real Estate Appraisal: MLS Area 43 Report For August 2011. There’s a bright spot in Baton Rouge Housing in 2011 – The Lakes At White Oak Subdivision. In the slower sales market of 2011, there’s already been 18 sales year-to-date versus only 16 total for 2010. The chart below shows the median sales price is up 7.8% from August 2010 to August 2011 and up 5.1% since after Hurricane Katrina (or as of 1/1/2006).

There’s so much confidence in this neighborhood that a buyer, in the midst of a national recession, paid $791,500 or $154/sf for 6353 Double Tree Drive, see photo below. 6016 North Shore Drive sold for $464,000 in 1/2011 for $157/sf. A home on North Shore Ct is under contract for an unknown price and listed for $529,500 or $159/sf. Of course, these are homes on the lake and are the exception and not the typical sales price. For 2011, the median sales price for the year is $337,319 or $113/sf.

If there’s any negative report, it’s the 12% REO or sold foreclosure rate or 17 out of 140 total sales.

This home at 5741 Lake Shadow Drive sold for $355,000 or $129/sf in 6/2011

Entrance Sign

6353 Double Tree Drive (Private Entrance)

From 01/01/2006 to 08/28/2011, GBRMLS is showing 17 REO or Foreclosure sales in The Lakes At White Oak Subdivision out of 140 total sales or about 12%, which is fairly high for East Baton Rouge Parish.

NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of January 1, 2006 to August 28, 2011. This information was extracted on 08/28/2011. YES, this appraiser does have the permission of GBRMLS to use the chart above Subdivision Price Trends Report!

Author: Bill Cobb, Appraiser with Accurate Valuations Group

Tags: Baton Rouge Real Estate, Baton Rouge Homes, Baton Rouge Housing, Baton Rouge Home Appraisers, Baton Rouge Real Estate Appraisers, East Baton Rouge, Greater Baton Rouge, Baton Rouge Home Appraisal, Home Appraisals, Baton Rouge Realtors, Baton Rouge Real Estate Agents

Baton Rouge Home Prices: Sherwood Forest Corrects Down To 2005 Support

Baton Rouge Real Estate Appraisal — Tue, 23 Aug 2011 13:31:04 +0000

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

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

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

Bill Cobb is Greater Baton Rouge’s Home Appraiser frequently called upon by banks, homeowners, and savvy real estate investors to assess property values. A home appraiser with 20 years experience, Bill Cobb brings a wealth of knowledge to the table as a home appraiser.

Bill’s company, Accurate Valuations Group, serves Greater Baton Rouge (East Baton Rouge Parish, West Baton Rouge Parish, Western Livingston Parish and Northern Ascension Parish).

Contact Bill Cobb and Accurate Valuations Home Appraisal Group for your next home appraisal:
Office: 225-293-1500, Cell: 225-953-0638
Fax: 1-866-663-6065
info@accuratevg.com
http://www.accuratevg.com/