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Posts Tagged ‘Reo’
Ascension Parish FHA Appraisers: Ronda Place Subdivision 2010 Home Sales Price Trends
01/02/2011 | 
Author http://www.ascensionrealestateappraisers.com/ – Ascension Parish FHA Appraisers: Ronda Place Subdivision 2010 Home Sales Price Trends. There were two (2) MLS sales and two (2) FSBO Sales in 2010. Overall sales prices are still increasing into 2011.
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,
Posted in Greater Baton Rouge Divorce Appraisals, Greater Baton Rouge Economic News, Greater Baton Rouge Real Estate News, Greater Baton Rouge Subdivision Video Tours, Real Estate Baton Rouge, Trends Baton Rouge Real Estate | 
Tags: Appraisers, Ascension Parish, Baton Rouge Real Estate News, Bedrooms, Fha, Foreclosure Listing, Foreclosures, Fsbo, Greater Baton Rouge, Home Sales Price, Legal News, Lot, Median, Mls Sales, Price Trends, Rea, Reo, Ronda, Solds, Sq Ft | 
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Baton Rouge Homes: Millbrook Subdivision 2010 Home Sales Price Trends
http://www.batonrougerealestateappraisal.com/ – Baton Rouge Homes: Millbrook Subdivision 2010 Home Sales Price 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,
Posted in Baton Rouge Appraisal, Baton Rouge Appraisals, Baton Rouge Appraisers, Baton Rouge Housing Market, Baton Rouge Pre-Listing Appraisals, Baton Rouge Real Estate | Tags: Association Of Realtors, Baton Rouge Real Estate News, December 31, Estate Appraisers, Fha, Foreclosures, Gbrmls, Greater Baton Rouge, Homes Sold, Housing Market, January 1, Median Sales Price, Mls, Nbsp, Price Trends, Real Estate Trends, Reo, Sq Ft, Would Make Sense, Www Homes | No Comments »
Baton Rouge Housing Trends: Shenandoah Hills Subdivision 2010 Home Prices Increase
http://www.batonrougerealestateappraisers.net/ – Baton Rouge Housing Trends: Shenandoah Hills Subdivision 2010 Home Prices Increase!
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,
Posted in Baton Rouge Appraisal, Baton Rouge Appraisals, Baton Rouge Appraisers, Baton Rouge Divorce Appraisal, Baton Rouge FHA Appraisers, Baton Rouge Home Appraisers, Baton Rouge Housing Market | Tags: Association Of Realtors, Baton Rouge Real Estate News, December 31, Estate Appraisers, Fha, Foreclosures, Gbrmls, Greater Baton Rouge, Housing Market, January 1, Median Sales Price, Mls, Nbsp, Price Trends, Real Estate Trends, Reo, Shenandoah, Shenandoah Hills, Sq Ft, Trends Report | No Comments »
Baton Rouge Real Estate: Camelot Subdivision 2010 Home Price Trends Declining
http://www.batonrougerealestateappraisal.com/ – Baton Rouge Real Estate: Camelot Subdivision 2010 Home Price Trends Declining
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
Posted in Baton Rouge Appraisal, Baton Rouge Appraisals, Baton Rouge Appraisers, Baton Rouge Divorce Appraisals, Baton Rouge FHA Appraisers, Baton Rouge Home Appraisers, Baton Rouge Real Estate Appraisal, Baton Rouge Real Estate Appraisers | Tags: Association Of Realtors, Baton Rouge Real Estate News, Camelot, December 31, Estate Appraisers, Fha, Foreclosure Listings, Foreclosures, Gbrmls, Greater Baton Rouge, Home Price Trends, Housing Market, January 1, Market 117, Median Sales Price, Real Estate Trends, Reo, Solds, Sq Ft, Trends Report | No Comments »
Baton Rouge Appraisers: Monticello Subdivisions Market Update For 2010 in 70814
http://www.batonrougemarketmetrics.com/ – Baton Rouge Housing: Monticello Subdivisions Market Update For 2010 in 70814
I recently completed 2 home appraisal assignments in Monticello Subdivision this week, both on Monticello Boulevard, and noticed these observations. There appears to be some decline due to REO or foreclosure activity. The Average Sold Price Per Sq. Ft. is down $6/sf and Median Sales Price is down $5,000 from 2009 versus 2010. AND, 5 of the 12 Current Listings are Foreclosures with more at least 2 more foreclosures that could be on the market later in 2011.
Solds In The Monticello Subdivisions from 1/1/2010 to 12/16/2010 revealed:
Average Sales Price: $138,580 ($154,573 in 2009)
Average Sold Price Per Sq. Ft.: $85/sf ($91/sf in 2009)
Median Sold Price: $145,000 ($150,500 in 2009)
Number of Sales: 15 (20 in 2009)
Average Number of Days On Market: 64 (96 in 2009)
Low To High: $82,000 to $169,000
Number of Sold REO/Foreclosures Noted In MLS: 3 or 20% of All Sales
Current # Listings: 12, 5 Are Foreclosures or 42% of All Listings
Current Listings Prices: $89,900 To $175,000
The 15 sales in in this very large subdivision in 2010 versus the 20 in 2009 reflects the current slowdown of this market post Federal Tax Credit Expiration. Without the tax credit, there doesn’t appear to be as much incentive to purchase a home. This slowdown in homes sales in a trend throughout the Baton Rouge housing market in latter 2010.
NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of January 1, 2009 to December 16, 2010. This information was extracted on 12/16/2010.
Tags: Appraisers Baton Rouge, Appraisers in Baton Rouge, Baton Rouge Estate Appraisers, Baton Rouge Estate Settlement Appraisers, Baton Rouge Home Appraisers, Baton Rouge Housing, Baton Rouge Housing Market, Baton Rouge Probate Appraisers, Baton Rouge Real Estate, Baton Rouge Real Estate Buzz, Baton Rouge Real Estate Minute, Baton Rouge Real Estate Trends
Posted in Baton Rouge Appraisal, Baton Rouge Appraisals, Baton Rouge Appraisers, Baton Rouge Economic News, Baton Rouge Home Appraisers, Baton Rouge Housing Market, Baton Rouge Real Estate | Tags: Appraisal Assignments, Association Of Realtors, Baton Rouge Real Estate News, Estate Appraisers, Estate Settlement, Federal Tax Credit, Foreclosure, Foreclosures, Greater Baton Rouge, Home Appraisal, Home Appraisers, Housing Market, January 1, Median Sales Price, Monticello, Probate, Reo, Slowdown, Solds, Sq Ft | No Comments »
Baton Rouge Housing: Merrydale Subdivisions Market Update For 2010 in 70812
http://www.batonrougemarketmetrics.com/ – Baton Rouge Housing: Merrydale Subdivisions Market Update For 2010 in 70812
I recently completed a home appraisal assignment on Summer Drive in Merrydale Subdivision on an average 1,000sf home, in really nice condition, for this subdivision and noticed these observations. Actually, I’m reporting on ALL of the subdivisions in the Merrydale area state that “Merrydale” in this subdivision name. There appears to be some decline due to REO or foreclosure activity.
Solds In The Merrydale Subdivisions from 1/1/2010 to 12/16/2010 revealed:
Average Sales Price: $65,733 ($63,500 in 2009)
Average Sold Price Per Sq. Ft.: $54/sf ($61/sf in 2009)
Median Sold Price: $63,500 ($87,450 in 2009)
Number of Sales: 6 (14 in 2009)
Average Number of Days On Market: 76 (52 in 2009)
Low To High: $26,900 to $103,500
Number of Sold REO/Foreclosures Noted In MLS: 3
Current # Listings: 4, 0 Are Foreclosures
Current Listings Prices: $69,900 To $115,500
The 6 sales in 2010 versus the 14 in 2009 reflect the current stalling of this market post Federal Tax Credit Expiration. Without the tax credit, there doesn’t appear to be as much incentive to purchase a home. This slowdown in homes sales in a trend throughout the Baton Rouge housing market in latter 2010.
NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of January 1, 2009 to December 16, 2010. This information was extracted on 12/16/2010.
Tags: Baton Rouge Appraisers, Baton Rouge Housing, Baton Rouge Real Estate, Baton Rouge Real Estate Housing, Baton Rouge Real Estate Trends, Baton Rouge, Appraisers in Baton Rouge, Merrydale, 70812
Posted in Baton Rouge Appraisal, Baton Rouge Appraisals, Baton Rouge Appraisers, Baton Rouge FHA Appraisers, Baton Rouge Housing Market, Baton Rouge Real Estate | Tags: Appraisal Assignment, Appraisers, Association Of Realtors, Baton Rouge Real Estate News, Current, Decline, Federal Tax Credit, Foreclosure, Foreclosures, Greater Baton Rouge, Home Appraisal, Housing Market, January 1, Median, Mls, Real Estate Trends, Reo, Slowdown, Solds, Sq Ft | No Comments »
Windermere Subdivision Baton Rouge: How Are Values Doing in 2010?
Posted in Baton Rouge Economic News, Baton Rouge Real Estate, Baton Rouge Real Estate News, Baton Rouge Real Estate Trends | Tags: Association Of Realtors, Baton Rouge Real Estate News, Current, Estate Appraisers, Estate Homes, Foreclosures, Greater Baton Rouge, Home Appraisal, Home Today, Housing Market, January 1, Median Sales Price, Mls, Probate, Real Estate Agents, Real Estate Trends, Reo, Solds, Sq Ft, Windermere | No Comments »
Appraisers In Zachary Louisiana 70791: Lake Pointe Subdivision 2010 Update
http://www.zacharylouisianarealestate.info/ – Appraisers In Zachary Louisiana 70791: Lake Pointe Subdivision 2010 Update. There’s ups and downs to report for this higher end market!
Entrance Image Source: http://lakepointezachary.com/
Solds In Lake Pointe from 1/2010 to 12/03/2010 revealed:
Average Sales Price: $271,400 ($257,700 in 2009 =’s +$5.3%)
Average Sold Price Sq. Ft.: $121/sf ($117.44/sf in 2009 =’s +3%)
Median Sold Price: $252,000 ($265,000 in 2009 =’s -4.9% Decline)
Number of Sales: 5 (5 in 2009)
Average Number of Days On Market: 158 (129 in 2009)
Low To High: $236,000 to $360,000 ($204,000 to $330,000 in 2009)
Number of Sold REO/Foreclosures Noted In MLS: 0
Current # Listings: 1, 0 Are Foreclosures
Current Listings Prices: $279,900
WHY WE RELY ON MEDIAN SALES PRICE VERSUS 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 January 1, 2009 to December 3, 2010. This information was extracted on 12/03/2010.
Tags: Baton Rouge Housing, Baton Rouge Housing Market, Baton Rouge Real Estate, Baton Rouge Real Estate Housing, East Baton Rouge, Greater Baton Rouge, Zachary La, Zachary Louisiana, Lake Pointe, 70791
Posted in Baton Rouge Pre-Listing Appraisals, Baton Rouge Real Estate, East Baton Rouge County Housing Market Studies, East Baton Rouge Parish, Zachary LA Real Estate 70791 | Tags: Association Of Realtors, Barometer, Comps, Extreme Highs, Fannie Mae, Foreclosures, Greater Baton Rouge, Highs And Lows, Home Appraisers, Market Entrance, Market Parameters, Median Sales Price, National Association Of Realtors, National Housing, Reo, Solds, Sq Ft, Ups, Ups And Downs, Zachary Louisiana | No Comments »
Ascension Parish Home Appraisers: Quail Creek Subdivision Numbers Improve in 2010!
http://www.ascensionrealestateappraisers.com/ – 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
Posted in Ascension Parish Real Estate News, Greater Baton Rouge Real Estate News, Greater Baton Rouge Subdivision Video Tours | Tags: ascension parish real estate, Association Of Realtors, Baton Rouge Real Estate News, Buzz, Current, Fha, Foreclosures, Greater Baton Rouge, Home Appraisers, Housing Market, January 1, Lakeland, Median Sales Price, Mls, Quail, Real Estate Appraisers, Reo, Solds, Sq Ft | No Comments »
Where Are The 2010 Ascension Parish Foreclosures Concentrated?
http://www.ascensionrealestateappraisers.com/ – Where Are The 2010 Ascension Parish Foreclosures Concentrated?
The chart above represents the number of recorded Ascension Parish REO or Foreclosure Sales within the Greater Baton Rouge MLS as of 10/16/2010, with the exception of Manufactured Housing sales. GBRMLS Areas for Ascension Parish are 90, 91 and 92.
2010 Foreclosures total 7% of sales YTD; 2009 Foreclosures totaled 6%, an increase of +1% since 2009. 5% of all Ascension MLS Listings are Foreclosures! Foreclosures are only moderately impacting this market.
AREAS 90-92 2010 FORECLOSURES. In 2010, there have been 68 solds. The vast majority of these foreclosure solds were “Rural” properties (10). In restricted subdivisions, foreclosures of note were in Ascension Trace (2), Autumn Woods (2), Lakes At Dutchtown (2), Manchac Harbor (2), Oak Terrace (3) and Porte Cochere (3).
Above $200,000, Both Solds and Current Listings. The number of 2010 foreclosures that sold above $200,000 has been 19 or 28%. Out of the 46 total REO MLS listings, there are 16 current listings above $200,000 or 35%.
Above $300,000, Both Solds and Current Listings. The number of 2010 foreclosures that sold above $300,000 has been 8 or 12%. Out of the 46 total REO MLS listings, there are 3 current listings above $300,000 or 7%.
There’s A Major “Caveat” with the numbers below! Based on a 7% REO sold rate, which does appear to be an indication REOs are only moderately negatively impacting this market. It’s also stated here that an 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 – Meaning that it might be impossible to know or state the exact # of competing REOs if they’re not being listed and that the foreclosure problem could be larger if up to 70% of REOs aren’t being listed. MLS is reporting 46 current REO listings for all Ascension MLS Areas out of a total 951 total listings. So, 5% of all Ascension MLS Listings are Foreclosures!
REO is “Real Estate Owned”!
Data used with permission of the GBRMLS. Search dates are 1/1/2009 to 10/16/2010. Extraction date was 10/16/2010.
Posted in Ascension Parish Real Estate News, Baton Rouge Real Estate, Foreclosure Trends, Real Estate Baton Rouge, Trends Baton Rouge Real Estate | Tags: Activerain, Ascension Parish, Autumn Woods, Caveat, Dutchtown, Foreclosure Sales, Foreclosures, Greater Baton Rouge, Landmines, Manufactured Housing Sales, Market Areas, Mls Listings, Porte Cochere, Reo, Rural Properties | No Comments »