http://www.accuratevg.com/ - Greater Baton Rouge Homeowners: Home Appraisal Tips – First Impressions Count

I found this helpful video and wanted to share with locals. As a home appraiser for almost 20 years now, I can certainly relate to what Sherie Smith is saying.

http://www.batonrougerealestateappraisal.com/ - Baton Rouge Real Estate: Will Credit Suisse Report of $1 trillion worth of ARMs still face resets impact local housing market?

Credit Suisse is reporting that there may be up to $1 Trillion worth of Adjustable Rate Mortgage still to reset into 2012. Their report is located here!

Here’s a snippet:

“While several industry observers worry about negative equity and unemployment driving foreclosures, a couple of experts point out that interest rates on mortgages remain a cause for concern.

Credit Suisse made waves in 2007 among housing bears with a chart that estimates the volume of adjustable-rate mortgages to face a reset each month. An updated version of the chart, which was provided to SNL, shows resets remain a worrying force over the next few years.

Most of the resets are expected to occur through 2012. Between 2010 and 2012, the chart indicates that $253.25 billion of option ARMs will adjust, while Alt-A loans totaling $163.71 billion will reset over that time. Altogether, $1.010 trillion worth of ARMs will reset or recast during the three-year period.“

Does this chart suggest the best time to buy a home? You be the judge!

http://www.batonrougerealestatebuzz.com/ – Baton Rouge Real Estate Buzz: February 2010 Housing Numbers Are In!

Local Realtor and Broker, Tony Zito, is reporting on February 2010 Housing Numbers Here: Tony Zito Baton Rouge Real Estate Update

According to Tony:

“In the month of February there were 26 Percent less closings than there were in February 2009. This is the second month that sales were down more than 20 Percent. Let’s blame on the unusually clod weather and look ahead to better days as the temperatures warm up.

Here are the numbers:

Active listings for sale in the Greater Baton Rouge real estate market 3489, pending sales 932. I like seeing that number come up from the low 700’s in January. It’s been around 1000 for a long time.

Sold

February 2010-310

February 2009-418

February 2008-449

February 2007-625

February 2006-737

February 2005-562

February 2004-575“

Connect With Tony Zito on and

]]> http://www.batonrougerealestateappraisal.com/baton-rouge-economic-news/baton-rouge-real-estate-buzz-february-2010-housing-numbers-are-in/feed/ 0 http://www.batonrougerealestateappraisal.com/baton-rouge-realtors/baton-rouge-real-estate-buzz-meadow-ridge-subdivision-video-tour-prairieville-la-70769/ http://www.batonrougerealestateappraisal.com/baton-rouge-realtors/baton-rouge-real-estate-buzz-meadow-ridge-subdivision-video-tour-prairieville-la-70769/#comments Mon, 01 Mar 2010 11:18:51 +0000 http://www.batonrougerealestateappraisal.com/ http://www.batonrougerealestateappraisal.com/baton-rouge-realtors/baton-rouge-real-estate-buzz-meadow-ridge-subdivision-video-tour-prairieville-la-70769/

http://www.ascensionrealestateappraisers.com/ - Baton Rouge Real Estate Buzz: Meadow Ridge Subdivision Video Tour Prairieville LA 70769

http://www.batonrougerealestatebuzz.com/ - Baton Rouge Real Estate Videos: Azalea Lakes Subdivision Drive Thru Tour Video

http://www.batonrougerealestateappraisal.com/ - Baton Rouge Real Estate Walden Subdivision Drive Thru Video Tour, February 2010.

Image Source: flickr.com/photos/geaux/2517839318/

Accurate Valuations Group – For Your Greater Baton Rouge Home Appraisal Needs!

225-293-1500 www.accuratevg.com

http://www.accuratevg.com/ - Baton Rouge Real Estate Videos Foreclosure Appraising of REO property. REO inspection and interesting rear party shed with fireplace and hot tub.

http://www.ascensionrealestateappraisers.com/ – Ascension Parish FHA Appraisers: Ascension Parish Market Stats for January 2010. Local Ascension Realtor, Kristina Cusick, is reporting on January 2010 Ascension Parish Housing Statistics.

“Monthly Sales were 69 units. Comparison to last month: Decreased 25% from 92 units. Comparison to this month last year: Increase 13% from 60 Units.

Average Sold Price was $208,242. Comparison to last month: Increased 11% from $186,342. Comparison to this month last year: Increased % from $207,265.

Current Inventory is 8.85 months. Comparison to last month: Increased from 6.53 months. Comparison to this month last year: Decreased from 11.68 months.

Average Days on Market were 92. Comparison to last month: Increased from 67 days. Comparison to this month last year: Held steady at 92 days.“

What do all of these numbers mean? Read Kristina Cusick’s analysis here On Jambalaya Wire! You can also be a fan of Jambalaya Wire on Facebook! http://www.facebook.com/JambalayaWire

http://www.batonrougerealestateappraisal.com/ – Baton Rouge Real Estate Appraisers: NAR Says January 2010 U.S. Home Sales Fall 7.2 Percent

The Source Is Baton Rouge Business Report. The Baton Rouge Business Report Is Dispensing Information From The National Association Of Realtors Regarding January Home Sales, see below. AND NOTE, This decline is despite efforts by our Federal Government to offer the $8,000 Tax Credit, which was supposed to help national home sales.

“Sales of previously occupied homes took a large drop for the second consecutive month in January, falling to the lowest level since summer. It is understood as another sign the housing market’s recovery is faltering. The National Association of Realtors said sales fell 7.2% to a seasonally adjusted annual rate of 5.05 million from a downwardly revised pace of 5.44 million in December. The results, the weakest since June, were far worse than forecast. Economists expected a slight increase, to a rate of 5.5 million.

Sales declined throughout the country, falling the most—nearly 11%—in the Northeast. Sales fell by about 7% in the South and the Midwest and by more than 5% in the West.“

http://www.accuratevg.com/ - Greater Baton Rouge Real Estate 2009 Declines -4.3% Year Over Year

Zillow.com is reporting that Baton Rouge Metro (Greater Baton Rouge) had a -4.3% decline since 1/2009, see the charts below. The Zillow report can be read here! Also according to Zillow, the Shenandoah market, comprised of approximately 2,800 homes, experienced a -2.3% decline in the same period.

For Your Greater Baton Rouge Home Appraisal Needs, Give Accurate Valuations Group A Call at 225-293-1500

http://www.accuratevg.com/

http://www.batonrougerealestateappraisal.com/ - Baton Rouge Real Estate FHA News: BREAKING FHA NEWS from NAMB DC Conference

The Guys Are At It Again, But This Time In DC….Click Below!

http://www.ascensionrealestateappraisers.com/ - Ascension Parish FHA Home Real Estate Appraisers – Accurate Valuations Group

http://www.batonrougerealestateappraisal.com/ - Are Baton Rouge Realtors Performing BPOs For Lenders Illegally?: No More BPOs For You! (How You Could be Violating RELRA)

On February 16, 2010, Renee Porsia posted an interesting article on AgentGenius entitled, “No More BPOs For You! (How You Could be Violating RELRA)“

It’s an interesting read and I recommend appraisers take time to read this one! Here’s a snippet:

“Perform a BPO and you may be violating the Real Estate Licensing and Registration Act (RELRA) and the Real Estate Appraisers Certification Act, and could be prosecuted by the Real Estate Commission or the State Board of Certified Appraisers or both.”

“For those Brokers/Realtors who are currently performing BPOs or those who have been performing BPOs to get extra income, those days are over and they should be grateful they have not yet been caught thus far.”

Mary Thompson also wrote on Active Rain about this very topic, “Just say no to BPO’s… in place of a bona fide appraisal“

Tags: bpos, broker price opinions

http://www.batonrougerealestateappraisal.com/ - Baton Rouge Real Estate: Ascension and Livingston Parish Home Sales Increase In January 2010

According to the 2/16/2010 Baton Rouge Business Report Real Estate Weekly, home sales were up in January 2010 in Ascension and Livingston Parishes. Read the complete report at the link above. The short article states:

“The number of houses sold in Ascension and Livingston parishes in January was higher than what was recorded the year before. There were 73 houses sold in each parish, according to figures from the Greater Baton Rouge Association of Realtors Multiple Listing Service. In January 2009, there were 64 homes sold in Livingston and 63 in Ascension. Ascension even saw a modest increase in the average sale price, up from $203,016 in 2009 to $203,400 in January. Livingston saw a significant drop in average sale price, down to $148,587 from $175,459 in January 2009.

MLS home sales were down 16% in East Baton Rouge, from 242 in 2009 to 203 in January. The average sale price went up, from $194,209 to $195,101. In the category that includes MLS sales in parishes such as West Baton Rouge, Iberville and the Felicianas, there were 22 houses sold in the first month of the year, compared with 25 in January 2009. The average sale price rose to $144,984 from $105,076 the year before.”

http://www.denhamspringsappraisers.com/ - Denham Springs Real Estate: New Juban Lakes Apartments Construction Beginning

The Advocate News Paper is reporting on Juban Lakes Appartments Beginning Construction here! According to the article, this will be a $13,000,000 development off Buddy Ellis Rd with a total of 244 units in two phases. Lease rates will be $775 for a one-bedroom uni, $885 for a two-bedroom and $1030 for a three-bedroom.

http://www.batonrougerealestateappraisal.com/ - Baton Rouge Real Estate Videos Of Riverbend Subdivision 2009 Statistics presented With The Permission of the Greater Baton Rouge Board of Realtors! Baton Rouge FHA Real Estate Home Appraisers – Accurate Valuations Group!

http://www.accuratevg.com/ - Baton Rouge Real Estate Videos of Old Jefferson 2009 Statistics Used With Permission Of The Greater Baton Rouge Association Of Realtors.

http://www.batonrougerealestateappraisal.com/ - Baton Rouge Realtors: Google Takes on Real Estate Websites With New Portal…Will FSBOs Increase?

http://www.accuratevg.com/ - Real Estate Appraisers in Baton Rouge, LA Report on Cedarcrest Subdivision

Solds In Cedarcrest Subdivision from 1/1/08 to 12/31/2008 revealed:
Average Sales Price: $136,250
Average Sold Price Per Sq. Ft.: $74.69/sf
Median Sold Price: $142,750
Average Number Days On Market: 99
# of Sales: 8

Solds In Cedarcrest Subdivision from 1/1/09 to 12/31/2009 reveal:
Average Sales Price: $122,142
Average Sold Price Per Sq. Ft.: $78.89/sf
Median Sold Price: $114,950
Average Number Days On Market: 134
# of Sales: 12

Therefore, based on the median sale price barometer within Cedarcrest Subdivsion, the market direction appears to be declining. The median sales price declined from $142,750 to $114,950 or -19.47%. However, the average sold price per sq. ft. actually increased from $74.69/sf to $78.89/sf or +$4.20/sf or +5.62%.

When you need a Greater Baton Rouge Home Appraisal, call Accurate Valuations Group at 225-293-1500.

http://www.batonrougerealestateappraisal.com/ - Win A New Copy Of Gary Vaynerchucks Crush It by Baton Rouge FHA Home Appraisers.

YES, you must have a Twitter Account To Register!

Drawing Is March 15, 2010!

Register Here:

http://www.batonrougerealestateappraisal.com/win-a-new-copy-of-crush-it-contest/

http://www.appraisersinbatonrouge.com/ - FHA Appraisers Baton Rouge: Woodlawn Acres Market Report 70817

Woodlawn Acres Subdivision Housing Market Direction: Up, Stable or Down?

Solds In Woodlawn Acres from 1/2007 to 12/2007 revealed:
Average Sales Price: $130,360
Average Sold Price Per Sq. Ft.: $83.89/sf
Median Sold Price: $128,000
Average Days On Market: 70
Number Of Sales: 5

Solds In Woodlawn Acres from 1/2008 to 12/2008 revealed:
Average Sales Price: $149,000
Average Sold Price Per Sq. Ft.: $76.02/sf
Median Sold Price: $149,000
Average Days On Market: 144
Number Of Sales: 1

Solds In Woodlawn Acres from 1/2009 to 12/2009 revealed:
Average Sales Price: $128,500
Average Sold Price Per Sq. Ft.: $82.53/sf
Median Sold Price: $128,500
Average Days On Market: 52
Number Of Sales: 1

There really isn’t enough data (sales) to call a trend. So, the information above is presented with the permission of the GBRAR.

Bill Cobb, Appraiser – Your Local Greater Baton Rouge Housing “Trust Agent”!

For Your Greater Baton Rouge Home Apprasial Needs, Give Accurate Valuations Group A Call at 225-293-1500

http://www.accuratevg.com/

http://www.ascensionrealestateappraisers.com/ - Northern Ascension Parish FHA Appraisers Report On Manchac Place Subdivision 70769

Housing Market Direction For Manchac Place: Increasing, Stable or Declining?

Solds In Manchac Place from 1/2007 to 12/2007 revealed:
Average Sales Price: $291,795
Average Sold Price Per Sq. Ft.: $110.62/sf
Median Sold Price: $300,000
Average Days On Market: 125
Number Of Sales: 13

Solds In Manchac Place from 1/2008 to 12/2008 revealed:
Average Sales Price: $272,697
Average Sold Price Per Sq. Ft.: $100.01/sf
Median Sold Price: $271,000
Average Days On Market: 108
Number Of Sales: 21

Solds In Manchac Place from 1/2009 to 12/2009 revealed:
Average Sales Price: $276,054
Average Sold Price Per Sq. Ft.: $91.14/sf
Median Sold Price: $290,000
Average Days On Market: 147
Number Of Sales: 13

Therefore, based on the “median sale price barometer” within Manchac Place, the barometer used by the National Association of Realtors, the market direction declined from 2007 to 2008 but increased from 2008 to 2009. From 2008 to 2009, the median sales price increased by $19,000 or +7%, from $271,000 up to $290,000. However, at the same time, the average sold price per sq. ft. declined from $100.01/sf to $91.14/sf or by -8.87% – not a good sign.

Bill Cobb, Appraiser – Your Local Greater Baton Rouge Housing “Trust Agent”!

For Your Greater Baton Rouge Home Apprasial Needs, Give Accurate Valuations Group A Call at 225-293-1500

http://www.accuratevg.com/

http://www.batonrougerealestateappraisal.com/ - Baton Rouge Real Estate: Greater Baton Rouge Homeowner Should Not Have Added $60,000 Pool In A $150,000 Subdivision

I ran across a situation in the Greater Baton Rouge Housing Market where a homeowner, located in a subdivision where the average home is worth $150,000, installed a $60,000 Gunite Inground Pool recently. Now, their home is on the market and they are about to be taken through the “school of hard knocks” when the appraiser doesn’t give them any more than $5,000 to maybe $7,500 contributory value for their pool. I’ve been appraising now for 18 years and see these types of situation several times per year and just shake my head when I see this happen.

Why only $5,000 to $7,500 contributory value for a $60,000 “gunite” pool? It’s not that “blankety blank” appraiser’s fault. It’s actually the market, the buyers, that don’t reward such expensive overimprovements. And mortgage underwriters that scrutinize the appraisals when appraisers do.

Is It Common For IG Pools In That Market? Let’s venture this thought process in the eyes of the appraiser! You have to look at the overall market and ask if it’s common for $60,000 inground pools to be installed in subdivisions where the homes are $150,000, which it’s not. Then ask yourself if the average owner in Such-And-Such Subdivision has an inground pool and the answer is no. Look at an aerial map for proof. Is it common for any buyer in the general Greater Baton Rouge market to pay more than $7,500 for a pool on an existing home sale where the price of the home is below $200,000? That answer is generally no as well. There may be exceptions, but they would be very rare.

Mortgage Underwriting Questions? What happens if the appraiser gives more than $5,000 to $7,500 on a pool is the underwriters coming back with a request for comps where the market actually gave that much for a pool. It’s at that point where the sale may fall apart because the appraiser can’t support giving the subject home that much value for that $60K pool in a $150,000 subdivision. I’m sure from the photos that it’s a nice pool, but in this national mortgage meltdown market where this loan may be underwritten in New Jersey, Manhatten NY or California or elsewhere where pools don’t carry much value, then giving too much value to the pool may even cause the lender not to want to do the loan and/or throw up red-flags.

There’s two lessons here!

1.) If you plan on remaining in your home until you die, then live it up and build whatever you want in your backyard (ig pools, metal workshop, that covered patio, wood decking, stone walk-ways, etc..).

2.) If you don’t plan on remaining in your home until you die, and your investment dollars must be wisely spent, then be very cautious about installing ig pools, metal workshops, covered patios, wood decks, stone walk-ways, etc.. because they don’t bring much return on investment. The lesson here is not to invest money in the your backyard and expect to receive dollar-for-dollar return on your investment. The lesson is to invest on the home itself before investing in your backyard.

Greater Baton Rouge’s Home Appraiser – Bill Cobb! Your Local Home Value “Trust Agent”! http://www.accuratevg.com/

]]> http://www.batonrougerealestateappraisal.com/baton-rouge-real-estate-appraisal/greater-baton-rouge-homeowner-should-not-have-added-60000-pool-in-a-150000-subdivision/feed/ 2 http://www.batonrougerealestateappraisal.com/baton-rouge-economic-news/four-demographic-trends-that-will-affect-greater-baton-rouge-housing/ http://www.batonrougerealestateappraisal.com/baton-rouge-economic-news/four-demographic-trends-that-will-affect-greater-baton-rouge-housing/#comments Wed, 03 Feb 2010 09:35:29 +0000 http://www.batonrougerealestateappraisal.com/ http://www.batonrougerealestateappraisal.com/baton-rouge-economic-news/four-demographic-trends-that-will-affect-greater-baton-rouge-housing/

http://www.batonrougerealestateappraisal.com/ - Baton Rouge Real Estate: Four Demographic Trends That Will Affect Greater Baton Rouge Housing

Realtor.org and and The Urban Land Institute are reporting on 4 demographic trends that will affect Greater Baton Rouge Housing! Their short article is located here and is quoted below.

“4 Demographic Trends That Will Affect Housing

A new report from the Urban Land Institute predicts two major changes in the U.S. housing market as we began a new decade.

Home appreciation will slow considerably to about 1 percent to 2 percent annually.

The current U.S. homeownership rate, now at 67 percent (which is down from a record high of 69 percent), will fall further to about 62 percent.

4 Major Demographic Trends

The report also cites four major U.S. demographic trends that will have a major impact on housing.

1. Aging baby boomers (ages 55 to 64 years old): They will keep working, and many will be forced to stay in their suburban homes until values recover. Those who are able to move will choose mixed-age living environments that cater to active lifestyles. Walkable suburban town centers also will appeal to this group.

2. Younger baby boomers (46 to 54 years old): They are now entering their prime earning years but they will lack home equity and unlike the older members of their generation, they won’t be able to purchase second homes. This will likely curb the prospects for the second-home market.

3. Generation Y: They are larger than the baby boom generation (with a population of about 86 million). As they enter the housing market, they are less interested in homeownership than their parents were when they were young adults. “They will be renters by necessity or choice for years ahead,” says John K. McIlwain, author of the report.

4. Immigrants – both legal and illegal: They are nearly 40 million strong. They often prefer multi-generational households and if they can afford them, larger homes in neighborhoods with a strong sense of community.

Source: The Urban Land Institute (01/27/2010)

Tags: Baton Rouge Estate Appraisers, baton rouge real estate, greater baton rouge real estate, baton rouge real estate trends

http://www.denhamspringsappraisers.com/ – Denham Springs Real Estate Appraisers: Livington Parish Gains 30,976 New Residents From 2000 to 2009

The Ascension Weekly Citizen Online is reporting Ascension Parish is the fastest growing Parish in the State of Louisiana. Their article is posted here and here’s a snippet from their article:

“Ascension is the fastest growing parish in the state, according to estimates from the Louisiana Tech University College of Business.
Ascension Parish grew at a rate of 36.17 percent from the year 2000 to 2009, gaining 27,961 people, the Tech study said.

Louisiana on the whole grew just .52 during that time period.

Neighboring Livingston, another fast growing parish, grew by 33.74, and picked up 30,976 new residents.

“It’s not a surprise,” Ascension President Tommy Martinez said Friday. He said growth in Ascension is actually slowing down a bit at present, which is good because it will allow the parish to put a parishwide master plan into place and prepare for the next wave of growth.”

http://www.ascensionrealestateappraisers.com/ – Gonzales Louisiana FHA Appraisers: Ascension Fastest Growing Parish In State of Louisiana

The Ascension Weekly Citizen Online is reporting Ascension Parish is the fastest growing Parish in the State of Louisiana. Their article is posted here and here’s a snippet from their article:

“Ascension is the fastest growing parish in the state, according to estimates from the Louisiana Tech University College of Business.
Ascension Parish grew at a rate of 36.17 percent from the year 2000 to 2009, gaining 27,961 people, the Tech study said.

Louisiana on the whole grew just .52 during that time period.

Neighboring Livingston, another fast growing parish, grew by 33.74, and picked up 30,976 new residents.

“It’s not a surprise,” Ascension President Tommy Martinez said Friday. He said growth in Ascension is actually slowing down a bit at present, which is good because it will allow the parish to put a parishwide master plan into place and prepare for the next wave of growth.”

http://www.ascensionrealestateappraisers.com/ - FHA Appraisers Geismar Dutchtown Louisiana Report On Cobblestone Parc 70734

Housing Market Direction For Cobblestone Parc: Up or Down?

Solds In Cobblestone Parc from 1/2008 to 12/2008 revealed:
Average Sales Price: $255,870
Average Sold Price Per Sq. Ft.: $113.41/sf
Median Sold Price: $245,000
Average Days On Market: 117
Number Of Sales: 5

Solds In Cobblestone Parc from 1/2009 to 12/2009 revealed:
Average Sales Price: $224,475
Average Sold Price Per Sq. Ft.: $105.30/sf
Median Sold Price: $226,500
Average Days On Market: 70
Number Of Sales: 4

Therefore, based on the “median sale price barometer” within Cobblestone Parc, the barometer used by the National Association of Realtors, the market direction declined from 2008 to 2009. The 2008 median sales price declined from $245,000 down to $226,500 in 2009 or -7.55%. However, the from peak in 2008 pricing in 11/2008 at $266,500, the median sales price has declined by -20%. However, this is only based on 4 total sales in 2009 and there are so many different sizes and floor plans of homes in Cobblestone Parc that I doubt the true decline has been as much as -20%.

One of the sales in 2009 was an REO that only sold for $95/sf, which attributed to some of the decline. The 4 2009 Solds went for $95/sf, $103/sf, $106/sf and $117/sf. So, it appears support of the later three sales is $109/sf.

The irony of this situation now in 2010 is that there are 3 current listings for $113/sf, $124/sf and $137/sf, the latter 2 listed far above 2009 market support when the market was in decline. Remember we stated above at 2009 support was $109/sf. Perhaps these homes have extras or upgrades to warrant listing prices that are $15/sf to $28/sf above 2009 support. Not Sure! Buyers: Do Your Homework Here and make sure you don’t pay more than market support!

Bill Cobb, Appraiser – Your Local Greater Baton Rouge Housing “Trust Agent”!

For Your Greater Baton Rouge Home Apprasial Needs, Give Accurate Valuations Group A Call at 225-293-1500

http://www.accuratevg.com/

http://www.batonrougerealestateappraisal.com/ - Baton Rouge Residential Real Estate News Update Video As Of 1/26/2010

Baton Rouge Residential News Highlights From The Baton Rouge Business Report’s “Real Estate Weekly”. Subscribe to the Real Estate Weekly Email here!

http://www.batonrougerealestateappraisal.com/ - Recommended Reading For Baton Rouge Mortgage Lenders and Realtors On “Low Appraisals”. Article counters ‘Appraier Hit Pieces’ In Media: Patrick Egger “Closing The Gap Between Sales Price And Appraised Value” Article.

From Washington Appraiser, Dave Towne:

“Appraisers……

Over the past couple of months, ‘negative press’ hit pieces have been circulating in major media and blogs about how ‘appraisers have caused a disruption in property sales’, erroneously attributed to the HVCC, since the economy went into the tank in 2008 and early 2009.

The attached 4 page PDF is an article written by Patrick Egger, Cert. Gen’l appraiser and appraiser educator from Las Vegas, which discusses why competent appraisers make decisions ‘we’ do regarding establishing an opinion of market value. I have met Patrick, and have taken a class from him.

Patrick has given me permission to distribute this article, and has told me you may distribute it to anyone you choose. Your mortgage lenders and real estate sales people buddies might like to see this so that they get a better understanding of what you do in analyzing market area sales used in your reports.

Be sure to save the PDF, and print it for your own review.

Dave Towne, Appraiser Education Service“

NOTE: To Download Patrick Egger’s Article, Click Here!

http://www.batonrougerealestateappraisal.com/ – Baton Rouge Louisiana FHA Appraisers Report: Slight Housing Market Declines In MLS Area 42 In 2009

Housing Market Direction: Up or Down For Homes In The 1950sf to 2400sf, Ages 11-40 Yrs Old, Area 42, Price Range $130,000 to $225,000?

Therefore, based on the “median sale price barometer” charting above, the barometer used by the National Association of Realtors, the market direction declined from January 2009 to January 2010 by -2.4% based on 78 sales analyzed (REOs included). Search parameters were: 1/1/08 to Present, 1950sf to 2400sf, Ages 11-40 years old, MLS Area 42. 78 Sales Results Were Analyzed. Data used with the permission of the GBRAR (Greater Baton Rouge Association Of Realtors).

REO / Foreclosure Rate: Based on MLS Data of the actual solds, the REO rate is a low 7.14%. However, It’s also stated here that a 2009 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. MLS is reporting 2 comparable REO listings. However, since it’s possible that 70% of REOs and/or Sheriff Sales never make it into the MLS System, it’s almost impossible to know exactly how many competing REOs there really are out there.

For Your Home Appraisal Needs In Greater Baton Rouge, Give Bill Cobb A Call At 225-293-1500 or www.accuratevg.com.