Solds In Greenwood Estates Subdivision from 1/1/2010 to 12/31/2010 revealed:

Average Sales Price: $111,483 ($147,833 in 2009 or -24.59%)
Avg Sold $ Per Sq. Ft.: $64.07/sf ($89.31/sf in 2009 -28.26%)
Median Sold Price: $105,500 ($148,000 in 2009 -28.7%)
Number of “MLS” Sales: 6 (3 in 2009)
Average Number of Days On Market: 136 (218 in 2009)
Low To High: $64,000 to $159,900
Number of Sold REO/Foreclosures Noted In MLS: 3
Current # Listings: 4, 0 Foreclosures, 1 Third Party Listing
Current Listings Prices: $127,900 to $149,000 or $78/sf to $90/sf.

So, in Greenwood Estates in 2010, it safe to state that Foreclosures Are A Part Of The Baton Rouge Housing Market!

NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of January 1, 2009 to December 31, 2010. This information was extracted on 1/5/2011. Yes, this appraiser does have the permission of the GBRAR MLS to use the chart above.

Tags: Baton Rouge Appraisers, Baton Rouge FHA Appraisers, Baton Rouge Home Appraisers, Baton Rouge Homes, Baton Rouge Housing, Baton Rouge Housing Market, Baton Rouge Real Estate, Baton Rouge Real Estate Trends,

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

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

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

Home On Ronda Avenue

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

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

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

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

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

This is the Foreclosure Listing on Aimee Drive!

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

Tags: Baton Rouge Estate Appraisers, Baton Rouge FHA Appraisers, Baton Rouge Housing Market, Baton Rouge Real Estate, Baton Rouge Real Estate Housing, Baton Rouge Real Estate Trends,

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

Average Sales Price: $229,300 ($254,000 in 2009)
Average Sold Price Per Sq. Ft.: $125.23/sf ($120.97/sf in 2009)
Median Sold Price: $235,000 ($254,000 in 2009)
Number of Sales: 3 (2 in 2009)
Average Number of Days On Market: 109 (100 in 2009)
Low To High: $215,000 to $238,000
Number of Sold REO/Foreclosures Noted In MLS: 0
Current # Listings: 1, 0 Are Foreclosures
Current Listings Price: $226,000 or $128/sf (Notice this listing is generally priced $7/sf above 2010 support in Millbrook)

For the numbers above, one must keep in mind the sizes of the homes sold. In 2009, there were 2 homes sold averaging 2,103sf living area size. The 3 2010 solds averaged 1,831sf, 272sf smaller than the 2009 solds. Thus, it would make sense for the 2009 median sales price to be higher.

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

Tags: Baton Rouge Estate Appraisers, Baton Rouge FHA Appraisers, Baton Rouge Housing Market, Baton Rouge Real Estate, Baton Rouge Real Estate Housing, Baton Rouge Real Estate Trends,

Solds In Shenandoah Hills Subdivision from 1/2010 to 12/31/2010 revealed:

Average Sales Price: $146,357 ($133,260 in 2009)
Average Sold Price Per Sq. Ft.: $108.12/sf ($99.34/sf in 2009)
Median Sold Price: $149,500 ($132,500 in 2009)
Number of Sales: 7 (5 in 2009)
Average Number of Days On Market: 44 (48 in 2009)
Low To High: $129,900 to $152,000
Number of Sold REO/Foreclosures Noted In MLS: 0
Current # Listings: 3, 0 Are Foreclosures
Current Listings Price: $140,900 to $150,900 or $105 to $113/sf

The Median Sales Price has increased from $132,500 in 2009 and $144,000 in 2008 to $149,500 in 2010.

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

Tags: Baton Rouge Estate Appraisers, Baton Rouge FHA Appraisers, Baton Rouge Housing Market, Baton Rouge Real Estate, Baton Rouge Real Estate Housing, Baton Rouge Real Estate Trends,

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

Average Sales Price: $180,949 ($184,741 in 2009)
Average Sold Price Per Sq. Ft.: $74.83/sf ($76.49/sf in 2009)
Median Sold Price: $181,500 ($189,000 in 2009)
Number of Sales: 6 (11 in 2009)
Average Number of Days On Market: 117 (133 in 2009)
Low To High: $140,000 to $228,000
Number of Sold REO/Foreclosures Noted In MLS: 2
Current # Listings: 1, 1 Is A Foreclosure
Current Listings Price: $148,000 or $64/sf

The Median Sales Price has declined from $189,000 in 2009 to $181,500 in 2010. The Average Sold Price Per Sq. Ft. has declined from $76/sf in 2009 to $75/sf in 2010 (rounded)!

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

Tags: Baton Rouge Estate Appraisers, Baton Rouge FHA Appraisers, Baton Rouge Housing Market, Baton Rouge Real Estate, Baton Rouge Real Estate Housing, Baton Rouge Real Estate Trends, Camelot

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

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

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

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

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

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

Tags: baton rouge, baton rouge real estate, real estate baton rouge, riverbend subdivision, lsu, baton rouge homes, baton rouge houses, baton rouge appraisers, baton rouge fha appraisers, accurate valuations group, baton rouge home appraisal, baton rouge home appraisals, baton rouge mls area 52

It’s almost the halfway mark into 2010, June. So far into 2010, what were the lowest and highest home sales prices? In South Point in 2010, there have been 19 sales from $120,200 up to $198,500.

LOWEST HOME SALES PRICE IN SOUTH POINT IN 2010

The lowest sales price was at 23938 Teakwood Dr, a home I inspected for an REO or Foreclosure Appraisal. This home sold 2/19/2010 for $120,200 or $81.77/sf. It has 1,470sf living area with 3 bedrooms and 2.5 bathrooms.

HIGHEST HOME SALES PRICE IN SOUTH POINT IN 2010

The highest sales price was at 23750 Rosemont Dr. This home sold 5/28/2010 for $198,500 or $81.42/sf, the price reported in MLS (see corrected price below). It has 2,438sf living area with 4 bedrooms, 3 bathrooms and an expensive “Gunite” swimming pool. NOTE: The seller paid $6,000 in concessions or had to pay the buyer $6,000 to buy their home from them. Because the seller received $6,000 less at the closing table than $198,500, the actual sales price that an appraiser will use is $198,500 minus $6,000 for $192,500 or $78.96/sf. The GBRAR MLS reports gross sales price without correctly and automatically deducting seller paid concessions. However, appraisers do deduct seller paid concessions and now FHA is very wisely implementing new rules to strictly limit seller paid concessions on their deals.

]]> http://www.batonrougerealestateappraisal.com/2010/06/denham-springs-south-point-subdivision-least-and-most-expensive-home-sales-in-2010/feed/ 1 http://www.batonrougerealestateappraisal.com/2010/05/how-is-the-baton-rouge-real-estate-westdale-terrace-70808-market-performing-in-2010/ http://www.batonrougerealestateappraisal.com/2010/05/how-is-the-baton-rouge-real-estate-westdale-terrace-70808-market-performing-in-2010/#comments Mon, 10 May 2010 14:12:55 +0000 Baton Rouge Real Estate Appraisal http://www.batonrougerealestateappraisal.com/baton-rouge-home-appraisers/how-is-the-baton-rouge-real-estate-westdale-terrace-70808-market-performing-in-2010/ http://www.batonrougehomeappraisal.com/ – How is the Baton Rouge Real Estate Westdale Terrace 70808 Market Performing in 2010?

I recently performed a “Pre-Listing” home appraisal in Baton Rouge’s Westdale Terrace and the homeowner was saying what a bad time in the local real estate market to be trying to sell a home. I was scratching my head wondering if this homeowner had been watching the CBS News and applying what’s taking place in the national housing market to the local Baton Rouge Real Estate market, which would be a mistake. So, on May 10, 2010, I ran the numbers in the GBRAR MLS based on similar slab homes in Zip Codes 70806 and 70808, 1400sf to 1800sf, 3 bedrooms and with a 3 miles of Westdale Terrace. The results are below.

What I found is that YES, the median sales price is down -3.62% since February 2009 when the median sales price was $191,957, now $185,000. However, since May 2009 when the median sales price was $176,000, the February 2010 median sales price is $185,000, which is a +5.1% increase! YES, the last competing sales in this market were in February 2010, which shows a “stable market” and / or slower home sales. Also, within Westdale Terrace, homes are remaining on the market longer, which could also be too high of priced listings.

Tags: Baton Rouge, Baton Rouge Real Estate, Real Estate Baton Rouge, 70808, Westdale Terrace, Baton Rouge FHA Appraisers, Baton Rouge Home Appraisers, Baton Rouge Real Estate Appraisers

Cross Creek Subdivision Market Direction: Up or Down?

Solds In Cross Creek from 1/1/2009 to 12/31/2009 revealed:
Average Sales Price: $167,654
Average Sold Price Per Sq. Ft.: $117.18/sf
Median Sold Price: $169,000
Number of Sales: 13
Number of Sold REO/Foreclosures Noted In MLS: 0

Solds In Cross Creek from 1/1/2010 to 04/21/2010 reveals:
Average Sales Price: $163,971
Average Sold Price Per Sq. Ft.: $116.79/sf
Median Sold Price: $164,900
Number of Sales: 3
Number of Sold REO/Foreclosures Noted In MLS: 0

CLICK TO ENLARGE

Therefore, based on the median sale price barometer within Cross Creek, the market direction appears to be decreasing from $169,000 in 2009 to $164,900 into 2010 or -2.43%, but only based on 3 sales. However, the sold price per sq. ft. differences between 2009 and 2010 is only $0.39/sf.

Tags: Gonzales La Real Estate, Gonzales La Real Estate Appraisers, Gonzales La FHA Appraisers, Cross Creek Subdivision Gonzales La, 70737, Gonzales La Real Estate Agents, Gonzales La Realtors

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

In this video, Realtor and Broker, Tony Zito, delivers the Denham Springs housing market update from 1/1/2010 through 4/2/2010.

In 2009 For Amber Lakes, There Were 4 Sales With A Median Sales Price was $191,400, Average Sold Price $121/sf, Average Days On Market 234 days. In 2010, There Have Been 3 Sales With A Median Sales Price Of $203,000, Average Sold Price $122/sf, Average Days On Market 86 days.

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.”

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/

Housing Market Direction: Up or Down For Homes In The 1250sf to 1600sf, Ages 4-15 Yrs Old, Area 90?

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 -5.23% based on 143 sales analyzed (REOs included). Search parameters were: 1/1/08 to Present, 1250sf to 1600sf, Ages 4-15 years old, MLS Area 90. 143 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 4%. 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.

Housing Market Direction: Up or Down?

Solds In Shenandoah Estates from 1/2007 to 12/2007 revealed:
Average Sales Price: $193,628
Average Sold Price Per Sq. Ft.: $93.62/sf
Median Sold Price: $190,000
Average Days On Market: 81
Number Of Sales: 91

Solds In Shenandoah Estates from 1/2008 to 12/2008 revealed:
Average Sales Price: $200,524
Average Sold Price Per Sq. Ft.: $89.68/sf
Median Sold Price: $205,000
Average Days On Market: 89
Number Of Sales: 68

Solds In Shenandoah Estates from 1/2009 to 12/2009 revealed:
Average Sales Price: $196,030
Average Sold Price Per Sq. Ft.: $89.48/sf
Median Sold Price: $196,500
Average Days On Market: 106
Number Of Sales: 62

Therefore, based on the “median sale price barometer” within Shenandoah Estates, the barometer used by the National Association of Realtors, the market direction increased from 2007 to 2008 but declined from 2008 into 2009. However, the 2009 median sales price at $196,500 is still higher than the 2007 $190,000. The gap between the high and low median sales prices was $15,000. The Aveage Sold Price Per Sq. Ft. only varied $4.14/sf within this 3 year period, which shows a fairly tight, supportive market.

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

Housing Market Direction: Up or Down?

Solds In Shenandoah Estates from 1/2007 to 12/2007 revealed:
Average Sales Price: $193,628
Average Sold Price Per Sq. Ft.: $93.62/sf
Median Sold Price: $190,000
Average Days On Market: 81
Number Of Sales: 91

Solds In Shenandoah Estates from 1/2008 to 12/2008 revealed:
Average Sales Price: $200,524
Average Sold Price Per Sq. Ft.: $89.68/sf
Median Sold Price: $205,000
Average Days On Market: 89
Number Of Sales: 68

Solds In Shenandoah Estates from 1/2009 to 12/2009 revealed:
Average Sales Price: $196,030
Average Sold Price Per Sq. Ft.: $89.48/sf
Median Sold Price: $196,500
Average Days On Market: 106
Number Of Sales: 62

Therefore, based on the “median sale price barometer” within Shenandoah Estates, the barometer used by the National Association of Realtors, the market direction increased from 2007 to 2008 but declined from 2008 into 2009. However, the 2009 median sales price at $196,500 is still higher than the 2007 $190,000. The gap between the high and low median sales prices was $15,000. The Aveage Sold Price Per Sq. Ft. only varied $4.14/sf within this 3 year period, which shows a fairly tight, supportive market.

For Your Greater Baton Rouge Home Apprasial Needs, Give Accurate Valuations Group A Call at 225-293-1500 or visit http://www.accuratevg.com/

Snow On 12/5/09, The Earliest Recorded Snow On Record In Louisiana

A Good Sign: New Construction Now Taking Place in The Walker Market Now By Vicknair Builders. The Builders Have Had To Lower Their Pricing To Much More Realistic Levels To Sell Homes In This Now Move To A More Affordable Market!

A Good Sign: New Construction Now Taking Place in The Walker Market Now By Vicknair Builders. The Builders Have Had To Lower Their Pricing To Much More Realistic Levels To Sell Homes In This Now Move To A More Affordable Market!

A Good Sign: New Construction Now Taking Place in The Walker Market Now By Vicknair Builders. The Builders Have Had To Lower Their Pricing To Much More Realistic Levels To Sell Homes In This Now Move To A More Affordable Market!

A Vacant and Unfinished Home Sits In Autumn Run Subdivision – An Object Lesson In Why One Shouldn’t Overbuild In A Subdivision Where The Average Home Is 1,500sf to 1,600sf. This Home In The Photo Is Estimated To Be 2,000sf to 2,200sf, Overbuilt By Approximately 35%.

Office: 225-293-1500 or 1-888-678-3544

Fax: 1-866-663-6065

Staff Email: fastvalue2@cox.net

Bill Cobb, Accurate Valuations Group Appraiser, has operated as a home appraiser for 18 years now primarily in the Greater Baton Rouge, Louisiana market. Bill performs Conventional, FHA and RD/Rural Development home appraisals. For more information on Accurate Valuations Home Appraisal Group, visit FHA Appraisers in East Baton Rouge, West Baton Rouge, Ascension & Livingston Parishes.

Our Service Areas: All of East & West Baton Rouge, Western Half of Livingston Parish (Denham Springs, Walker, Watson & Livingston) and Northern Ascension Parish (Prairieville, Gonzales, Geismar, Saint Amant, Sorrento)

]]> http://www.batonrougerealestateappraisal.com/2009/12/baton-rouge-certified-fha-home-appraisers/feed/ 0 http://www.batonrougerealestateappraisal.com/2009/11/fannie-mae-tightens-greater-baton-rouge-underwriting-criteria/ http://www.batonrougerealestateappraisal.com/2009/11/fannie-mae-tightens-greater-baton-rouge-underwriting-criteria/#comments Mon, 30 Nov 2009 20:49:03 +0000 Baton Rouge Real Estate Appraisal http://www.batonrougerealestateappraisal.com/baton-rouge-economic-news/fannie-mae-tightens-greater-baton-rouge-underwriting-criteria/ http://batonrougerealestateappraisers.net/ - Fannie Mae Tightens Greater Baton Rouge Underwriting Criteria

According to the Louisiana Realtors eNews Digest, Fannie Mae is tightening underwriting guidelines. The Fannie Mae Tightens article is here!

Here’s a snippet:

“Fannie Mae is tightening its underwriting criteria by raising the minimum credit score for automated underwriting (Desktop Underwriter) from 580 to at least 620 for all loans, justified on the grounds that this action “will support prudent risk management and better ensure sustainable homeownership.” Even higher minimum credit scores may apply for both manual and automated underwriting, depending on factors such as the loan-to-value ratio and the number of units in the structure. The minimum credit score applies to all mortgage loans delivered to Fannie Mae, including FHA and other government-backed loans. Fannie is also changing the maximum debt-to-income ratio for Desktop Underwriter to 45 percent, but will allow 50 percent if there are “strong compensating factors.” Other changes are also being made. For more information, view these related Fannie Mae documents:

Fannie Mae Announcement 09-29 (PDF file) Summary and FAQs (PDF file)”

http://www.ascensionrealestateappraisers.com/

A market analysis of solds from 8/1/2008 to 11/23/2009 within Old Mill Subdivision shows an overall median sales price decline of -3.58% on what appears to be low volume. However, the Listing Price To Sales Price Ratio still remains high or favorable at 100% of listing price. The chart below represents solds from 1/1/2007 to 11/23/2009.

1004MC of Old Mill Itself

]]> http://www.batonrougerealestateappraisal.com/2009/11/geismar-dutchtown-fha-appraisers-report-on-old-mill-subdivision/feed/ 0 http://www.batonrougerealestateappraisal.com/2009/09/greater-baton-rouge-fha-appraisers-real-estate-today-radio-show-topic-the-fall-market-weekend-of-september-19-20-2009/ http://www.batonrougerealestateappraisal.com/2009/09/greater-baton-rouge-fha-appraisers-real-estate-today-radio-show-topic-the-fall-market-weekend-of-september-19-20-2009/#comments Sat, 19 Sep 2009 09:33:26 +0000 Baton Rouge Real Estate Appraisal http://www.batonrougerealestateappraisal.com/baton-rouge-real-estate-appraisal/greater-baton-rouge-fha-appraisers-real-estate-today-radio-show-topic-the-fall-market-weekend-of-september-19-20-2009/ http://www.batonrougerealestateappraisers.net/ – Greater Baton Rouge FHA Appraisers: Real Estate Today Radio Show Topic The Fall Market Weekend of September 19-20, 2009

Baton Rouge FHA Appraisers Appraise Maison Deville Townhomes

Solds From Ogden Park Subdivision from 1/1/2008 to 04/29/2009 reveal:  
Average Sales Price: $163,938
Average Sold Price Per Sq. Ft.: $105.84/sf
Median Sold Price: $165,700
Low Sales Price: $132,000
High Sales Price: $189,500
Average # of Days On Market: 73 Days On Market
# of Sales: 8