Below is a compare and contrast showing the marketing differences in perspective of home listing photo at normal elevation versus elevated elevations. Local Real Estate Agents prefer to combine normal photos and elevated photos in their marketing plan for their listings.

This service is also included in Bill Cobb’s AVG Pre-Listing Appraisals whether those are ordered by Local Real Estate Agents or for those selling FSBO without an Agent, see Greater Baton Rouge Pre-Listing Appraisals

Tags: pap, pole aerial photography, pole photography, baton rouge, baton rouge real estate, baton rouge homes, Baton Rouge Real Estate, Baton Rouge Housing, East Baton Rouge, Greater Baton Rouge, Baton Rouge Realtors, Baton Rouge Real Estate Agents, Baton Rouge Homes For Sale, baton rouge real estate elevated photos

I had a local real estate agent contact me last week asking for a update on Les Chenier Subdivision as there really hasn’t been much home sales activity in this development, but a development that has experienced some REO or foreclosure activity.

This development has puzzled me for several years as to how it climbed so high in home prices after Hurricane Katrina for these smaller homes. The Median Sales Prices from 2005 to 2010 climbed and then rightfully so corrected from $167,000, $186,000, $191,000, $195,250, $193,500, $180,000 and now one (1) distressed sale in 2011 for $155,000. It would appear that the $193,500 to $195,000 price range is high for Les Chenier, or about $117/sf. I’m just not sure that over $117/sf is really sustainable for Les Chenier interior lots (those homes not fronting McCrory Rd 1). And, I just posted a video report about the housing price corrections taking place in in this immediate market here: Ascension Parish Home Appraiser Charting Of Declining Housing Market 2008-2011

Total # 2010 Sales: 7
Average Sales Price: $191,964
Median Sales Price: $180,000
Average Sold Price: $111.60/sf
Average List To Sale Price Ratio: 98%
Average Days On Market: 85

FORECLOSURES.

Regarding REOs, 1 2010 sale was an REO and the 1 2011 sale was an REO or Real Estate Owned. According to Legal News, there have been 3 REO sales since 1/2010 being Lots 25, 29 & 90.

CURRENT LISTINGS: ZERO FORECLOSURES!

There are currently 6 listings from $179,900 up to $210,900 or $114/sf up to $126/sf, which some are priced high and certainly not priced according to the correction in home prices taking place in this market. In fact, if one examines the 2007 to 2009 highs in the market on that chart above, the average sold prices per sq. ft. were $116.51/sf, $119.53/sf and $115.38/sf. So, why in 2011, when the market isn’t as strong, are there homes listed above the previous highs, homes listed at $120/sf, $125/sf, $126/sf and $126/sf? Of all 6 listings, all are Active and none are Pending.

Keep Up With Ascension Parish Real Estate Buzz on Facebook!

NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of January 1, 2005 to April 23, 2011. This information was extracted on 4/23/2011. YES, permission was granted by GBRMLS to use Subdivision Price Trends Chart Report!

Top Subdivision Entrance Photo Is Courtesy of Homes Of Baton Rouge Blog: http://www.homesalesofbatonrouge.com/

Author’s Bio:

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/

This is 975 Louisiana Avenue, near Beauregard Town and the Baton Rouge Central Business District. I appraised this property in 2008 as a foreclosure when the condition was much less impressive. Property was sold through local Real Estate Agents, Jeff Furniss and Darry Gissel in 11/2008 for $70,000. 975 Louisiana Avenue is actally located in Young Subdivision, near Beauregard Town.

2011 AFTER PHOTO!

2008 BEFORE PHOTOS BELOW!

]]> http://www.batonrougerealestateappraisal.com/2011/03/amazing-beauregard-town-renovation-975-louisiana-avenue-before-and-after-photos/feed/ 0 http://www.batonrougerealestateappraisal.com/2011/03/cvr-baton-rouge-realtor-faq-how-does-cost-compare-and-will-it-help-my-cash-buyer/ http://www.batonrougerealestateappraisal.com/2011/03/cvr-baton-rouge-realtor-faq-how-does-cost-compare-and-will-it-help-my-cash-buyer/#comments Wed, 23 Mar 2011 06:11:23 +0000 Baton Rouge Real Estate Appraisal http://www.batonrougerealestateappraisal.com/baton-rouge-appraisers/cvr-baton-rouge-realtor-faq-how-does-cost-compare-and-will-it-help-my-cash-buyer/ http://www.gbrcvrreports.com/ – CVR Baton Rouge REALTOR® FAQ: How Does The CVR Valuation Cost Compare To URAR 1004 Report? Will the CVR Help My Cash Buyer That Wants An Appraisal Before Closing?

I received these two (2) questions today from a local real estate agent after she read my CVR Video Press Release. This was my reply below.

Good questions and thank you for asking. I attached a 12 page Sample CVR Report based upon the desktop Pictometry aerial views of home. I’ll let you look it over to determine if it fits your client’s needs. A full conventional URAR 1004 Home Appraisal could be from 23 to 50 pages of work, depending on the complexity of assignment.

CVR DESIGNED FOR 2 TYPES OF INSPECTIONS: OFF-SITE & ON-SITE!

There are two (2) inspection options with the CVR report from an inspection point of view:

1.) A desktop report from aerial views online, no visit to home and no real photos (but 4 aerial pictometry photos). THIS IS THE FASTEST DELIVERED REPORT. Cost $150 to $175.

2.) A visit to the home with real photos taken by me and placed into report. This cost around $200. I may even measure the home and provide a sketch for my own peace-of-mind. THIS REPORT TAKES LONGER TO DELIVER BECAUSE OF THE INTERIOR INSPECTION.

CVR IS STRICTLY AN OPTION FOR URBAN OR SUBURBAN LOCATION, NOT RURAL LOCATIONS! IS YOUR PROPERTY RIGHT FOR THE CVR?

The CVR report requires 30 to 50 good sales/comps. CVRs reports are used in highly populated Urban and Suburban markets. As long as this home in question is located in a restricted subdivision and housing market with ample comps, the CVR should be able to meet your needs.

25 TO 30 DOLLAR FEE PER REPORT.

I have to pay the data service $25 to $30 per report I complete for the extra data these reports require. Standard data is $25 plus $5 for the Veros data for forecasting, IF Veros covers the Greater Baton Rouge adequately enough. I have performed many of these reports in class based on Greater Baton Rouge MLS data for training in Texas but have not completed one locally in town yet. I do have my first order scheduled this week.

Tags: Collateral Valuation Report, CVR, Replacing BPOs, Baton Rouge Real Estate, Baton Rouge Appraisers, Baton Rouge Appraisals

SFREP or Software for Real Estate Professionals is a local real estate appraisal software company founded by R. Wayne Pugh, MAI. SFREP recently added a new mapping feature to their “Appraise-It” product, which aids the appraiser in better communication with the underwriters.

Video Link Is: http://www.youtube.com/watch?v=ZtoXLINgvz8

http://www.batonrougehomeappraisal.com/

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

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.

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.

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.”

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

Thank 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
Baton Rouge, LA 70835
TEL: 225-293-1500
MOBILE: 225-953-0638
TOLL FREE: 1-888-678-3544
FAX: 1-866-663-6065
STAFF EMAIL: fastvalue2@cox.net
http://www.accuratevg.com

SOCIALLY:

Facebook: http://bit.ly/E0rsl

Twitter: http://twitter.com/billcobbsuccess

YouTube Channel: http://www.youtube.com/batonrougeappraiser

The Baton Rouge Business Report is reporting this morning that area home sales were down 19% for the first 6 months of 2009. The link to the news on 7/13/2009 is at: http://www.businessreport.com/archives/daily-report/2009/jul/13/1077/ and here’s a snippet as directly quoted:

“Baton Rouge area home sales are down 19% through the first six months of 2009 as the effects of the national recession continue in the area. According to figures from the Greater Baton Rouge Association of Realtors Multiple Listing Service, there were 3,298 homes sold in the metro region through June, compared to 4,083 through June 2008. The average sale price was down 6.5%, from $207,072 in 2008 to $193,548. Local real estate officials say the housing market remains fairly strong because employment remains high locally. But tight credit markets and consumer unease are causing a slowdown in sales. The number of houses sold in East Baton Rouge Parish was down 21%, from 2,500 through the first half of 2008 to 1,965 through the end of last month. Livingston Parish saw a bigger drop in overall sales, with 509 homes sold as of June, compared with 670 through the first half of 2008. Ascension Parish had the smallest drop, with the number of houses sold falling by 4.8%, from 670 to 627. In the other category, which includes MLS sales in West Baton Rouge Parish and the Felicianas, there were 197 homes sold as of June, compared to 254 through the first six months of 2008.”