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Posts Tagged ‘Tax Credit’
Home Purchases In Greater Baton Rouge Pick Up Momentum, Market Report May 2011
05/24/2011 | 
Author http://www.homeappraisalsbatonrouge.com/ – Greater Baton Rouge Home Purchases Pick Up Steam, Market Report May 2011
THE GOOD NEWS!
There’s Confidence in the local Greater Baton Rouge housing market! The home purchase appraisal orders have really picked up this week with momentum like I haven’t seen yet this year. Just this week, we’ve seen a surge of orders for home purchases. Bill Cobb, Appraiser
THE NOT-SO GOOD NEWS!
Baton Rouge Business Report‘s Real Estate Weekly reports the housing market as “flat” in Louisiana and down in Baton Rouge.
According to the Businss Report, “The number of houses sold in Louisiana during the first quarter was virtually unchanged from the first three months of 2010. There were 5,604 homes sold through the end of March, according to figures from the Louisiana Realtors. That’s 0.6% more than the 5,568 homes sold through the first quarter of 2010. Houma-Thibodaux was the strongest metro market, with 202 homes sold during the quarter, a 14.1% increase over the first three months of 2010. The Lake Charles market also saw a double-digit percentage increase, with 289 sales, 10.3% more than the 262 sold in the first quarter of 2010. Home sales were up 7.9% in New Orleans to 1,837, 2.6% in Lafayette to 640, and 2.5% in Alexandria-Pineville to 248. Shreveport-Bossier City had the biggest sales drop, falling 12.8%. There were 775 homes sold during the first quarter, compared with 889 the year before. Monroe had a 4% drop in sales, to 388; and Baton Rouge was down 3.3%, to 1,225. Statewide, the average sale price of a home fell by 1.5%, from $177,381 to $174,687. For the rest of Real Estate Weekly, click here.
AND, LOCAL AGENT, RYAN SPENCER, OFFERS HIS UPDATE!
“1st Quarter 2010 to 2011 Avg. List Price $198,078/$192,161
Avg. Sale Price $191,506/$185,769
Avg. Days on the Market 95/104
List to Sale Price Ratio 96.68%/96.67%
Months of Inventory 9.19/10.76
The home buyer tax credit was in effect last year which may have boosted sales numbers in the first quarter of 2010. Despite tough economic times our market is still pretty strong overall. If you have any questions please contact me at 225-505-5619 or email me at ryan.spencer@coldwellbanker.com“
Posted in Baton Rouge Economic News, Baton Rouge Home Appraisers, Baton Rouge Housing Market, Baton Rouge Pre-Listing Appraisals, Baton Rouge Real Estate | 
Tags: Alexandria, Appraisal Orders, Bill Cobb, Business Report, First Quarter, First Three Months, Greater Baton Rouge, Home Buyer, Home Purchases, Housing Market, Lake Charles, Louisiana Realtors, Metro Market, Momentum, Percentage Increase, Price Ratio, S Real Estate, Shreveport Bossier City, Tax Credit, Thibodaux | 
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Baton Rouge Home Appraisers Video: Robert Shiller: End of Tax Credit Could Mean Big Trouble for Housing … and Banks
http://www.batonrougerealestateappraisal.com/ – Baton Rouge Home Appraisers: Robert Shiller: End of Tax Credit Could Mean Big Trouble for Housing … and Banks!
Altos Research this morning has an interesting chart: What if the Housing Stimulus Never Existed?
Yes, this argument is counterfactual, economically speaking, but… as Kyle Bass has asked – “How many problems have you solved by kicking the can down the road?”
Yahoo Finance has an interesting video on Robert Shiller feels that the end of the tax credit could mean big trouble for housing.
Posted in Baton Rouge Foreclosure Auctions, Baton Rouge Housing Market, Baton Rouge Pre-Listing Appraisals, Baton Rouge Real Estate, Real Estate Baton Rouge, Trends Baton Rouge Real Estate | Tags: Altos Research, Banks, Baton Rouge, Big Trouble, Finance, Home Appraisers, Robert Shiller, Stimulus, Tax Credit, Yahoo | No Comments »
Baton Rouge Real Estate Buzz: Woodlawn Estates Median Sales Price Declines Into 2010
http://www.batonrougehomeappraisal.com/ - Baton Rouge Real Estate Buzz: Woodlawn Estates Median Sales Price Declines Into 2010
In MLS Area 43, near Shenandoah Area, the Woodlawn Estates Subdivision was developed in late 1970′s. Based on the chart below, the average sales price, median sales price and average sold price per sq. ft. has been declining since the post Hurricane Katrina highs. From 2009 to 2010, the average sales price has declined -8.4%, median sales price has declined -5.3% and average sold price per sq. ft. has declined by -$2.6%.
This is the contradictory charting based on all Woodlawn Estates sales in GBRAR MLS since 1/1/2007. According to this charting, the median sales price has increased since June 2009. I do believe the chart above is more accurate.
This is chart below is from a recent appraisal in Woodlawn Estates of an 1840sf 4 bedroom home. The chart is based on MLS Area 43 sales comparable to the home appraised from 6/1/2008 to 6/26/2010, 1700sf to 2050sf. According to this charting, the median sales price has increased since June 2009 by approximately 3%. So, it appears that two motivated sales may have taken place in Woodlawn Estates in 2010, which lowered the overall indicators.
Possibly Oversupply of Potential Competing Listings? I do know that the marketing time period appears to be increasing after the tax credit expiration. Also, for the appraisal completed in Woodlawn Estates, there were 25 competing listings with only 51 competing solds in the past 12 months. So, there’s at least 50% of the number of homes sold since 6/2009 on the market currently. And, this doesn’t include FSBO Listings. If competing FSBO listings were included, the number of competing listings could be closer to 30 to 35.
Information is used with permission of the GBRBR MLS. Period covered is 1/1/2007 to 6/26/2010. Date of data extraction was 6/26/2010!
Tags: Baton Rouge Real Estate, Baton Rouge Homes, Woodlawn Estates, Homes In Baton Rouge, 70817, Baton Rouge FSBO, FSBOBR.com
Posted in Baton Rouge Economic News, Baton Rouge Real Estate, For Sale By Owner Baton Rouge, FSBO Home Appraisals, FSBOBR.com, Greater Baton Rouge Real Estate News, Listing Appraisals, Pre-Listing Home Appraisals, Real Estate Baton Rouge | Tags: 12 Months, Baton Rouge Real Estate News, Buzz, Charting, Data Extraction, Estate Sales, Fsbo Listings, Hurricane Katrina, Marketing, Median Sales Price, Mls, Oversupply, Price Declines, Real Estates, Shenandoah, Shenandoah Area, Solds, Sq Ft, Tax Credit, Time Period | No Comments »
May 2010 Greater Baton Rouge Housing Video: Numbers Show A Stable Market
http://www.batonrougerealestateappraisal.com/ – May 2010 Baton Rouge Housing Video: Numbers Show A Stable Market
Today is June 9, 2010 and by this time, the solds for May 2010 would have been reported within the local GBRAR MLS related to the $8,000 Tax Credit. The video below was prepared by Tony Zito, with Zito Real Estate Group, and shares the number of pending sales for each month from February 2010 to today on June 8 2010. Tony also shares the sales for each May from 2004 to this past May 2010. Be sure to check out Tony’s Blog @ http://perfectbatonrougerealestate.com/
The questions in my mind are these:
1.) What impact did the $8,000 Tax Credit have on Greater Baton Rouge area home sales in 2010 leading up to the April 30 deadline? In the video below, I think you’ll find that it had a significant impact on local home sales.
2.) Was our market functioning based solely on this government stimulus and will home sales drop off after this stimulus has been removed? The answer to this question and concern will be answered by the market in the coming months.
Posted in Agents In Baton Rouge, Baton Rouge Home Appraisers, Baton Rouge Homes, Baton Rouge Houses, Baton Rouge Real Estate, Baton Rouge Realtor, Baton Rouge Realtors, Greater Baton Rouge Divorce Appraisals, Greater Baton Rouge Economic News, Greater Baton Rouge Real Estate News, Greater Baton Rouge Subdivision Video Tours | Tags: Baton Rouge Area, Blog, Gbrar, Greater Baton Rouge, Housing Market, Real Estate Group, Shares, Significant Impact, Solds, Stable Market, Stimulus, Tax Credit, Tony Zito, Video Numbers | No Comments »