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Posts Tagged ‘Baton Rouge Real Estate News’

Baton Rouge Real Estate Trends

Baton Rouge Real Estate Observations: Southwest Baton Rouge Market Shows Strong Comeback into 2010

http://www.batonrougerealestateappraisal.com/ – Baton Rouge Real Estate Observations: Southwest Baton Rouge Market Shows Strong Comeback into 2010

GBRAR MLS Map Southwest Baton Rouge

Wow, what a difference 6 months can make in a housing market. I appraised a home in Cottage Hill Subdivision 70809 in October 2009 and again in April 2010.

Cottage Hill Sub Baton Rouge 70809

The differences in that housing market is like night and day. See Below!

Market Conditions Description in 10/2009:

Declining Market of -4.39% Since 10/2008. 28 Months Supply of Housing On
Market. 19 Competing Listings Does Indicate an Over-Supply (includes FSBO listings). 96% List-To-Sales Price Ratio. While comps 1-3 show 1-3
months marketing time, 28 Month Supply and an oversupply indicate over 6 months.

CLICK TO ENLARGE

Market Conditions Description in 4/2010:

Stable to Increasing Market of 8.49% Since 4/2009. 6.3 Months Supply of
Competing Housing On Market. 14 Competing Listings Does Indicate an Over-Supply (does not include FSBO’s). 97% List-To-Sales Price Ratio.

CLICK TO ENLARGE

NOTE: Based on Detached Single Family information from the Greater Baton Rouge Association of REALTORS\MLS for the period 10/01/2007 through 10/15/2009 versus 04/17/2008 to 04/17/2010. MLS Areas 53, 61 and 62, Slab Foundation, 2100sf to 2500sf, 6-10 to 16-20 Yrs old. This information was extracted on 10/15/2009 and 04/22/2010.

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Baton Rouge Real Estate Trends

Baton Rouge Real Estate: Understanding and Avoiding Mortgage Fraud

http://www.batonrougerealestateappraisal.com/ - Baton Rouge Real Estate: Understanding and Avoiding Mortgage Fraud

The San Francisco Chronicle has an interesting article: Mortgage Fraud: Understanding And Avoiding It . Here’s a snippet below:

appraisal fraud warning

Ethical violations and criminal activities in various industries have affected our economy over the past few decades, particularly in the banking, financial and housing sectors. In this article we examine the complex ethical and criminal issues surrounding mortgage fraud. Fraud in its simplest form is deliberate misrepresentation and deception. Fraud in action means that one deceives another by misrepresenting information, facts and figures.

What is Mortgage Fraud?
Mortgage fraud is not just predatory lending practices that target certain borrowers. According to the Federal Bureau of Investigation (FBI) mortgage fraud is “material misstatement, misrepresentation or omission relating to the property or potential mortgage relied on by an underwriter or lender to fund, purchase or insure a loan.” With this working definition we see that mortgage fraud can be committed by both individual borrowers and industry professionals.

Read more: http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2010/04/21/investopedia5882.DTL#ixzz0loEvmD3B

appraiser mortgage fraud reminder

Baton Rouge Real Estate Trends

Baton Rouge Real Estate Agents: Would A Geographical Competency Map Of Your Previous Listings Help You Earn More Listings?

http://www.batonrougerealestatebuzz.com/ – Baton Rouge Real Estate Agents: Would A Geographical Competency Map Of Your Previous Listings Help You Earn More Listings? If you’re an experienced agent, it certainly would by adding hundreds of red labels on a Google map.


As the map above illustrates, I recently learned how to use Google Maps to Geocode some of the home addresses I’ve been appraising. This process created a “Geographical Competency Map” illustrating my competency to appraise homes in certain local housing markets. In an HVCC era, this helps me to prove that I’m “geographically competent” to appraise homes locally and that I’m not traveling 50 miles out of my normal marketing area or beyond my market competency.

Question: If you as a local real estate agent created such a map to show to your listing prospects, would it help you earn more listings? I think it would!

I learned to create such a map by watching this video below and checking out REBliss.com’s How To Use Google Maps to Show Your Geographic Competency.

Baton Rouge Real Estate Trends

Baton Rouge FHA Home Appraiser, Bill Cobb, Creates A Geographical Competency Map

http://www.batonrougerealestateappraisal.com/ – Baton Rouge FHA Home Appraiser, Bill Cobb, Creates A Geographical Competency Map

Baton Rouge Home Appraiser, Bill Cobb, with Accurate Valuations Group, recently created a geographical competency map showing the main concentration of appraisal assignments since 2001.  Although Bill has been appraising homes since 1991, only the current data from 2001 forward was used for the map below.

CLICK TO ENLARGE

Baton Rouge Real Estate Trends

Baton Rouge Real Estate Appraisers Video: CNBC Good News & Worries Over Commercial Mortgage Delinquencies

http://www.batonrougerealestateappraisal.com/ - Baton Rouge Real Estate Appraisers Video: CNBC Good News & Worries Over Commercial Mortgage Delinquencies

real estate appraiser tips cnbc

Also, see the Baton Rouge Business Report’s: Dire predictions for commercial mortgage lending and here’s a snippet:

Nationally, about $3.4 trillion in commercial real estate loans is outstanding, and some experts predict a wave of defaults in the next few years that could make the mortgage meltdown look like a strong wind before a hurricane. While some call for government intervention to head off the next financial crisis, others say the magnitude is too great. The debt crisis facing Dubai, with its custom-island extravagances, could be a global foretaste.

With a largely jobless recovery from the “Great Recession,” the root of the problem seems deep. Millions of office and industrial workers have been laid off this year alone, meaning a diminished need for physical job sites and a rise in commercial vacancies. Although Baton Rouge seems relatively resilient economically, commercial lending trouble has appeared. Mall of Louisiana owner General Growth Properties filed for bankruptcy in the spring, and banks that financed Tommy Spinosa’s Perkins Rowe development foreclosed on the project in the summer.

Baton Rouge Real Estate Trends

How Will RESPA Changes Impact Greater Baton Rouge Real Estate? See Video

http://www.batonrougerealestateappraisal.com/ - How Will RESPA Changes Impact Greater Baton Rouge Real Estate? See Video

Watch and Listen to Murfreesboro, TN Realtor & Broker, John C. Jones, explain the new RESPA Changes, the first changes to RESPA in 30 years!

john c jones

Baton Rouge Real Estate Trends

Five Ways Olive Garden Can Enhance Your Baton Rouge Real Estate Business

http://www.batonrougerealestateappraisal.com/ - Five Ways Olive Garden Can Enhance Your Local Baton Rouge Real Estate Business

J. Lamar Ferren has written an insightful article on how Olive Garden Restaurant can enhance your local Real Estate Business! The article is located here: Five Ways Olive Garden Can Enhance Your Real Estate Business.

Olive Garden

Here’s a snippet:

1. The “Right This Way” concept

In Olive Garden: When you first enter the Olive Garden, you are typically greeted by the host who calls on someone to seat you. Usually the person who seats you will say “Right This Way” as they lead off into the restaurant with you following behind them. I’ll be honest, I’m not a big fan of going into restaurants where I have to seat myself. It’s not that I can’t do it, it’s just that when the restaurant is crowded, it is usually tough to find a seat; especially if you have multiple guests. The person who seats you knows exactly where to go and can get you there quickly; it’s just easier if you follow them.

In Your Business: When a client sees your sign, your Craigslist ad, your flyer, etc., in order for them to click through to your site or pick up the phone and call you, they have to be given a “Call To Action”. Peter Kolat, a fellow BP blog contributor, actually goes into this concept a little more in depth. However, the main thing is to tell your clients exactly what you want them to do. For example, you could say, “Visit My Website Today” or “Pick up the phone and call me at 555-555-5555 right now.” Tell them exactly what you want them to do and if they’re interested, they will follow through. Don’t just assume that everyone who sees your advertisement, will know what to do next. You must guide them through the experience!

2. The “Give Them What They Want” concept

In Olive Garden: After you are seated, you are then greeted by your server, who eventually takes your order. You get the opportunity to read through the menu and choose exactly what you want. If you need more information about a certain dish or drink, your server will be available to answer any questions you may have. Once they’ve completed your order, they take it to the kitchen, where the meal is prepared. After the meal has been prepared, your server carries it out to you, and as you look at your entree, hopefully you notice that you have been given exactly what you wanted.

In Your Business: After a lead comes to your website, they expect to see something related to what your advertisement says. If your ad says I can buy your home in 7 days and your website has nothing to do with buying their home, they they will get ticked off and click the “X” button. Even if they pick up the phone and call you, they then expect to hear something related to the reason they dialed your number. If you can’t give them what they want, then it’s likely that you will be unable to convert them into a deal. The bottom line is that you need to give them a solution to their problem! You need to combine the “Right This Way” concept with the “Give Them What They Want” concept. Put this on your ad and your website because you want your client to go where you need them to go to get what they want, in order to continue on with your process.”

Baton Rouge Real Estate Trends

Baton Rouge Real Estate: Springlake New Home Construction Raises 2009 Median Sales Price

http://www.batonrougerealestateappraisers.net/ - Baton Rouge Real Estate: Springlake At Bluebonnet Highlands New Home Construction Raises 2009 Median Sales Price

Chart #1 includes ALL solds from November 2008 to November 2009 YTD indicating a +7.36% increase in median sales price. ALL home sales includes both new home construction sales and existing home sales.

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fha appraisers baton rouge springlake

baton rouge real estate springlake

Chart #2 includes ONLY solds of existing homes from November 2008 to November 2009 YTD indicating a -0.66% decline in median sales price.

number-2-blue

real estate baton rouge springlake

baton rouge housing market

Current Listings. Currently, there are 29 listings within Springlake, from $196,900 up to $288,900. Of these listings, 15 are new construction and 14 are existing homes. The Average Listing Price is $238,655, Average Listing Price Per Sq. Ft. is $139.56/sf, Median Listing Price $239,500 and Average Days On Market 104 days. FSBOBR.com indicates 11 more current listings in Springlake from $198,000 up to $265,900. Assuming the 11 FSBOBR.com listings are not listed in MLS, that would total 40 current listings in Springlake, which would appear to be an oversupply and possibly the reason that the existing median sales price basically didn’t increase from 11/2008 to 11/2009.

 

 

Baton Rouge Real Estate Trends

Baton Rouge Real Estate in October 2009 Ranks Within 20 Strongest Metro Areas In U.S.

http://www.appraisersinbatonrouge.com/ – Baton Rouge Real Estate in October 2009 Ranks Within The 20 Strongest Metro Areas In U.S.

appraisers baton rouge real estate bill cobb 225 293 1500 2

Baton Rouge Real Estate Appraisers

(NOTE: This Photo, Taken in 10/2009, Shows New Construction By More “Economy Builders” Priced Below $200,000 Is Still Fairly Brisk Within The Outlying Areas Of Greater Baton Rouge Itself. This is the “New” New Construction Baton Rouge housing market, a market that is much more affordable in pricing. And, this is what is selling. Some of those builders that thought buyers would just keep paying $136/sf to $160/sf and never stop are the ones still holding inventory, paying interest and their banks are sometimes taking it on the chin. In new home construction, in general, under $200K is moving fairly well; Over $250K is Still Not Selling As Fast As It Did in 2006/2007. AND, these $200,000 new homes in the photo are being built in a “former” high end subdivision where the predominant values were $350,000 or about $135/sf. The new price per sq. ft. for the remaining 85% of lots is going to be in the $96/sf to $106/sf. OUCH!!!)

Mark Perry, with Wall Street Pit Global Market Insight, is reporting, along with Business Week, that Baton Rouge Real Estate in 2009 is within THE 20 Strongest Performing Metro Areas in the U.S.. The link to the article is here. A Snippet includes:

BUSINESS WEEK (”The U.S. Metros Least Touched by Recession”) – America’s strongest economies have one thing in common — home prices that never got too hot or too cold (see charts above comparing the home price index in California to Arkansas, Texas and Oklahoma over the last ten years).


Home prices in metros such as San Antonio, Oklahoma City, Pittsburgh, Rochester, Little Rock, Ark., and Baton Rouge, La., remained steady through boom and bust. Although no metropolitan area entirely avoided the economic downturn, the most resilient metros were protected by a potent mix of recession-resistant jobs.

The upstate New York areas of Syracuse, Rochester, Albany, and Buffalo suffered from declining jobs in manufacturing, but got significant boosts from sizable health-care, education, and government sectors. Construction is booming in Baton Rouge, Louisiana’s capital, as firms take advantage of financing for post-Katrina hurricane recovery work and service-related companies expand to meet the needs of a growing population. Omaha and the state of Iowa have relatively strong insurance sectors.

Texas, the last state to enter recession, has been bolstered by its oil and gas industries — which have also helped Oklahoma, North Dakota, and Louisiana. Texas also has many other things going for it, including affordable home prices and relatively low wages, which attract corporations.”

Baton Rouge LA FHA Home Appraisers

comment on greater baton rouge real estate

Baton Rouge Real Estate Trends

New Baton Rouge Real Estate Appraiser Website Launched appraisersinbatonrouge.com

http://www.batonrougerealestateappraisal.com/  - New Baton Rouge Real Estate Appraiser Website Launched www.appraisersinbatonrouge.com

 

fha appraisers east baton rouge louisiana

Bill Cobb, with Accurate Valuations Group, has launched “FHA Appraisers Baton Rouge Louisiana” blog. The “About” page of this blog says,

CobbFamilyAVGWebRealtyThank you for visiting the “FHA Appraisers In East Baton Rouge Louisiana Blog”. This is a Baton Rouge FHA Real Estate Appraiser Blog Site of Bill Cobb, CREA, of Accurate Valuations Group!

Blog topics include local real estate market trends, appraisal-related issues, SMART Charting or Graphs documenting trends, ”photos from the field”, local interests, and anything Bill finds interesting – people, neighborhoods, coffee and events.

Bill Cobb, CREA is a real estate appraiser based in the Baton Rouge Market. He covers multiple Parishes (or Counties) in the Greater Baton Rouge Region and works for brokers, banks, governmental agencies, Real Estate Agents, attorneys, home owners, insurance agents and more. Beyond the appraisal business, Bill’s passions include building Online Video Business Cards, WordPress CMS Sites (Blogs), WordPress Video Sales Letters For Local Businesses, Embedding Video onto websites and blogs, building affiliate marketing campaigns, building the “BIG 3 In Social Media (Twitter, YouTube & Facebook”, shooting real estate videos for the Greater Baton Rouge Realty Visual Tours site, reading, local First Pentecostal Church, and spending time with family and friends. Vacations For Bill Are Behind A Computer Building Online Marketing Campaigns!

P.O. Box 40515
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Baton Rouge Real Estate Trends
Baton Rouge Real Estate Trends