Baton Rouge Real Estate

Baton Rouge’s Kensington Estates Market Direction?

By http://batonrougehomesrealtor.com/ | August 19, 2008

http://homeappraisalsbatonrouge.com/ - East Baton Rouge’s Kensington Estates Market Direction?

Is The Market Direction For Baton Rouge’s Kensington Estates Up or Down?

An MLS CMA of Kensington Estates Subdivision from 8/16/07 to 8/16/08 reveals:
The Average Sales Price: $550,108
The Average Sold Price Per Sq. Ft.: $149.85/sf
The Median Sold Price: $480,000
Low Sales Price: $393,000
High Sales Price: $751,000
Average # of Days On Market: 82 Days On Market
# of Sales: 13

An MLS CMA of this Subdivision from 8/16/06 to 8/16/07 reveals:
The Average Sales Price: $509,288
The Average Sold Price Per Sq. Ft.: $150.80/sf
The Median Sold Price: $503,250
Low Sales Price: $390,000
High Sales Price: $719,900
Average # of Days On Market: 30 Days On Market
# of Sales: 16

Therefore, based on the average sales price within Kensington Estates, the market direction has been increasing over the past 12 month period, by +$40,892. While the median home price declined from $503,250 to $480,000, the average sold price per sq. ft. remained almost constant. Since the beginning of the 2nd Quarter 2008, the Listing Price To Sales Price Ratio has remained favorable for Kensington homeowners. And, there is currently ONLY 1 home for sale in Kensington Estates, 1601 Notting Hill Dr, for $407,000 for 2,688sf or $151/sf, listed on 5/21/2008.

About Kensington Estates From http://www.kensington-estates.com/ :
Kensington Estates is an upscale, restricted subdivision located in the southeastern part of Baton Rouge, Louisiana. It is off of Perkins Road between Siegen Lane and Highland Road. The development was started in 1997 with the first filing of 67 lots, in 1998 the second filing added 56 more lots, and in 2000 last (3rd) filing added 43 more. There are now a total of 167 lots, 162 of which have beautiful homes, and 5 which have no homes.

One of the most attractive features of the subdivision is the number of original trees (40+ feet tall) that were preserved during the development process and the generous spacing between homes. The subdivision also has a very strong Homeowner’s Association Board. This 3 person Board is responsible for the managing of day-to-day subdivision affairs, the general upkeep of the subdivision, homeowner’s dues, and the Architectural Control Council (ACC). The ACC ensures that all deed restrictions are being met in the subdivision. Board members are elected annually, while ACC members are assigned. All board members must be a current home owner or lot owner.

The home values in the subdivision have a broad price range, from the $300,000’s to $1,000,000+.

Kensington Estates information is provided with the permission of the Greater Baton Rouge Board of Realtors.

Topics: Baton Rouge Real Estate Appraisers, FHA Appraisers Baton Rouge, Baton Rouge Appraisers, Real Estate Appraisers Baton Rouge, Baton Rouge Homes Realtor, East Baton Rouge Real Estate, Baton Rouge Real Estate, Baton Rouge FHA Appraisers, baton rouge rental homes, baton rouge multi-family, baton rouge MLS, baton rouge FNMA, Baton Rouge Appraisers FHA, baton rouge Employee Relocation, baton rouge Housing, baton rouge residential, baton rouge single family, baton rouge Banks, Baton Rouge Real Estate News | No Comments »

Louisiana foreclosure rate nearly four times less than national average

By http://batonrougehomesrealtor.com/ | August 15, 2008

http://batonrougehomesrealtor.com/ - Louisiana foreclosure rate nearly four times less than national average

Source: Baton Rouge Business Report Daily

One out of every 1,799 Louisiana households faced foreclosure in July, almost four times less than the U.S. average of one foreclosure filing for every 464 households. Louisiana ranked 39th out of all states and the District of Columbia for foreclosures, according to the monthly RealtyTrac report. The low ranking came after RealtyTrac says it changed its data collection for the state, a move that showed an 83% jump in the number of filings since July 2007. The foreclosure rates in the Capital Region were even lower than the state average: There was one filing for every 3,122 homes in East Baton Rouge Parish, and one per every 38,163 homes in Ascension and Livingston parishes. Orleans Parish had the highest foreclosure rate in the state, with one filing for every 424 households.

Topics: FHA Appraisers Baton Rouge, Baton Rouge Appraisers, baton rouge rental homes, Baton Rouge Real Estate Appraisers, Real Estate Appraisers Baton Rouge, Baton Rouge Real Estate, Baton Rouge FHA Appraisers, Baton Rouge Homes Realtor, baton rouge multi-family, baton rouge residential, baton rouge MLS, baton rouge FNMA, Baton Rouge Appraisers FHA, baton rouge Employee Relocation, baton rouge Housing, baton rouge single family, baton rouge Banks, Baton Rouge Real Estate News | No Comments »

FHA Baton Rouge Appraisers - Southdowns Study

By http://batonrougehomesrealtor.com/ | August 8, 2008

http://batonrougehomesrealtor.com/ - FHA Baton Rouge Appraisers - Southdowns Housing Study

Southdowns

Solds from Southdowns from 8/5/07 to 8/5/08 reveal:
Average Sales Price: $270,332
Average Sold Price Per Sq. Ft.: $138.60
Median Sold Price: $270,000
Low Sales Price: $160,000
High Sales Price: $505,000
Average # of Days On Market: 81
# of Sales: 28Listings. There are currently 16 listings from $200,000 to

$999,500 averaging $156.09/sf

Topics: FHA Appraisers Baton Rouge, Baton Rouge Appraisers, baton rouge rental homes, Baton Rouge Real Estate Appraisers, Real Estate Appraisers Baton Rouge, Baton Rouge FHA Appraisers, Baton Rouge Homes Realtor, baton rouge multi-family, baton rouge residential, baton rouge MLS, baton rouge FNMA, Baton Rouge Appraisers FHA, baton rouge Employee Relocation, baton rouge Housing, baton rouge single family, baton rouge Banks, Baton Rouge Real Estate News | Comments Off

Greater Baton Rouge Home Appraiser Offers Pre-Listing Appraisals - Thinking Of Listing Your Home?

By http://batonrougehomesrealtor.com/ | July 24, 2008

Baton Rouge Home Appraiser Offers Pre-Listing Appraisal Services

A smooth transaction is one when one has accurately represented the physical characteristics(in writing) of one’s home , whether it be listing the home with an agent or selling it yourself(FSBO). “The main step is to acquire the accurate living area during the whole process of obtaining the accurate representation of one’s property”, says William D. Cobb, CREA who is the owner of Accurate Valuations Home Appraisal Group in Baton Rouge, Louisiana. An agent will enlist a CMA or Comparative Market Analysis for determining a home’s listing price. Still, one should have with them, a precise calculation of the living area.

Also, to be on the safer side, it would be a wise decision to have a third-party measure the living area and value of the property before one signs the Listing Agreement. A residential appraiser is the best option in this case.

This has the following advantages: · When an appraisal report is done in a professional manner, it leaves a good impression on the potential buyer as it supports the price quoted as well. · An appraisal generally includes photographs, location map, accurate sketch, precise dimensions, outline of the neighborhood etc. Also, 3 to 4 comparable sales must be present adjusted to subject property. · Enlisting recommendations for repair or enhancements, if any. This listing appraisal can indicate a value for addition(s), items that require repairs, etc.. · Accurate estimation of Living-Area size lends peace of mind, especially with values @ $100/sf +

In U.S, majority of real estate professionals base the price per square foot of a home on living area size. Living Area is measured from the exterior walls. All real estate professionals are to follow the ANSI Standards for Single-Family Residential Buildings (American National Standards Institute) when calculating area home sizes. In a seminar in Apex Appraiser Home Sketching Software and National ANSI Standards in Houston, TX, the ANSI instructor, who is also on the Appraiser Standards Board in South Carolina, stated that one of the most common lawsuits in Real Estate today is “misrepresentation of living area size”.

Consider: A 2,000sf home is for sale, priced at $240,000. Instead of measuring the home, the living area was obtained by County Records; estimating the typical home size in that development. The home is listed with a living area of 2,000sf. A purchase agreement for $240,000 is received and is accepted. The appraisal is ordered by the buyer’s lender. The sellers submit an offer on a $350,000 home in a neighboring development. The offer is accepted. However, the appraiser for the home turns in her appraisal showing 1,840sf and an appraised value of $220,800, much less than the purchase price. The sellers are asked to renegotiate the purchase price as the living area is 1,840sf, and not the 2,000sf. The sellers sue for misrepresentation of living area. Thus, it’s crucial to have one’s home measured by the person listing your home. It is strongly recommended that when interviewing the person listing your home, one must confirm that they follow ANSI, that they will measure your home, and provide you a calculated sketch. Thus, a written verification of true living area is present.

Bill states that he recently performed a purchase appraisal in a South Baton Rouge Subdivision on a 2,026sf living area, for $260,000, listed FSBO. The home was marketed WITHOUT obtaining a professional opinion on the value of the home. The buyers end up with $9,000 in equity as the home appraised at $269k. So, as against a loss of $9,000 the seller should have paid $225 to get the listing appraisal done.

An appraisal helps homeowners make the best decisions like investment in homes and setting a competent sales price. Thus it is strongly recommended to have a Listing Appraisal before one lists their home.

About the Author: William D. Cobb, CREA, with Accurate Valuations Group has operated as a home appraiser for 16 years primarily in the Greater Baton Rouge, Louisiana market. For more information on William D. Cobb, CREA and Accurate Valuations Group, visit: http://www.batonrougehomeappraisals.com . Also, visit William D. Cobb’s Video Blog @ http://greaterbatonrougerealestate.tv .

Topics: FHA Appraisers Baton Rouge, Baton Rouge Appraisers, baton rouge rental homes, Baton Rouge Real Estate Appraisers, Real Estate Appraisers Baton Rouge, Baton Rouge Real Estate, Baton Rouge FHA Appraisers, Baton Rouge Homes Realtor, baton rouge multi-family, baton rouge residential, baton rouge FNMA, Baton Rouge Appraisers FHA, Baton Rouge Real Estate News, baton rouge MLS, baton rouge Employee Relocation, baton rouge single family, baton rouge Banks, baton rouge Housing, Blogroll | No Comments »

Baton Rouge Real Estate - 1 Of 66 Cities Recommended A Buy

By http://batonrougehomesrealtor.com/ | July 17, 2008

http://batonrougerealtorhomes.com - Baton Rouge, Louisiana - One of 66 Cities Where it “Makes Sense” to Buy a Home”

Source: Active Rain - Atlanta GA Group

It’s just like we tell our buyers all the time - it’s the right time to buy! A home is still a great investment - just don’t expect to make a fast buck.

According to an article this morning on MSN Real Estate, Atlanta is one of the “66 Cities Where Buying Makes Sense” - where the drop in home values and the “soft” market have made the idea of homeownership increasingly realistic for many.

“With house prices falling around the country, many renters are wondering if this is the time to jump in and score a deal… The answer, of course, depends on where you live. In much of the U.S., you’re better off buying despite falling home values, say new data compiled by the National Low Income Housing Coalition and the Center for Economic and Policy Research.”

The most important thing for potential homebuyers to remember is: It’s a home, not a get-rich-quick scheme. It’s always a red flag to me when I encounter a buyer who says s/he wants to buy a home, great a great deal, and sell in two years to “cash in.” I always advise my buyers to remember that it is just as important to love the home you’re in as it is to get a great deal. It’s all about balance — getting a good deal (meaning, not paying the highest price in the neighborhood and also getting a fair market price, based on the comps and the market) but also finding a home where you and your family can be happy.

Danilo Pelletiere, research director for the National Low Income Housing Coalition and co-author of the study reminds readers, however: “I wouldn’t want anybody to interpret this data as saying here’s where you should put your money. What I am saying is, if you want to put your money into a home, these are the cities where owning makes sense.”

Below is the list of the “66 Cities Where Buying Makes Sense” — you’ll see Atlanta (Sandy Springs/Marietta being in the northern suburbs) about halfway down. Of course, the better your credit, the better the loan you will qualify for and the more equity you could potentially have by the year 2012.

Metro area	6% loan	7% loan	8% loan
McAllen-Edinburg-Mission, Texas	$90,437	$89,871	$89,381
San Antonio	$90,017	$89,064	$88,239
New Orleans-Metairie-Kenner, La.	$88,907	$87,473	$86,232
Houston-Sugar Land-Baytown, Texas	$87,837	$86,703	$85,721
Dallas-Fort Worth-Arlington, Texas	$83,880	$82,669	$81,620
Rochester, N.Y.	$82,898	$81,898	$81,032
Syracuse, N.Y.	$80,231	$79,341	$78,571
Buffalo-Niagara Falls, N.Y.	$77,934	$77,045	$76,275
Jackson, Miss.	$77,648	$76,659	$75,804
Austin-Round Rock, Texas	$70,007	$68,530	$67,251
Memphis, Tenn.-Mississippi-Arkansas *	$68,348	$67,286	$66,367
Baton Rouge, La.	$61,802	$60,648	$59,651
Pittsburgh	$61,174	$60,221	$59,397
Tulsa, Okla.	$58,599	$57,624	$56,780
Little Rock-North Little Rock-Conway, Ark.	$58,420	$57,416	$56,548
Augusta, Ga.-Richmond County, S.C.	$57,424	$ 56,465	$55,636
Lakeland, Fla.	$56,960	$55,793	$54,784
Columbia, S.C	$55,993	$54,936	$54,022
El Paso, Texas	$55,100	$54,316	$53,637
Akron, Ohio	$54,594	$53,410	$52,387
Greensboro-High Point, N.C.	$54,592	$53,463	$52,485
Oklahoma City	$54,431	$53,475	$52,648
Youngstown-Warren, Ohio-Boardman, Pa.	$54,014	$53,176	$52,450
Wichita, Kan.	$53,684	$52,764	$51,968
Dayton, Ohio	$51,393	$50,327	$49,405
Detroit-Warren-Livonia, Mich.	$50,599	$49,241	$48,067
Indianapolis-Carmel, Ind.	$49,520	$48,330	$47,300
Albany-Schenectady-Troy, N.Y.	$49,104	$47,630	$46,355
Omaha, Neb.-Council Bluffs, Iowa	$47,823	$46,654	$45,643
Birmingham-Hoover, Ala.	$47,404	$46,276	$45,300
Atlanta-Sandy Springs-Marietta, Ga.	$46,314	$44,730	$43,360
Scranton-Wilkes-Barre, Pa.	$46,251	$45,254	$44,391
Des Moines-West Des Moines, Iowa	$46,078	$44,844	$43,776
Kansas City, Mo.-Kansas City, Kan.	$45,699	$44,413	$43,300
Cleveland-Elyria-Mentor, Ohio	$45,251	$44,025	$42,964
Grand Rapids-Wyoming, Mich.	$44,484	$43,304	$42,282
Toledo, Ohio	$44,009	$42,928	$41,992
Tampa-St. Petersburg-Clearwater, Fla.	$41,847	$40,237	$38,843
Chattanooga, Tenn.-Georgia *	$41,025	$39,955	$39,029
Cincinnati-Middletown, Ind.-Kentucky *	$40,454	$39,184	$38,086
Greenville-Mauldin-Easley, S.C.	$40,268	$39,169	$38,218
Harrisburg-Carlisle, Pa.	$37,456	$36,168	$35,054
Portland-South Portland-Biddeford, Maine	$37,197	$35,204	$33,479
New Haven-Milford, Conn.	$36,521	$34,284	$32,348
Deltona-Daytona Beach-Ormond Beach, Fla.	$36,217	$34,643	$33,281
Charleston-North Charleston, S.C.	$35,592	$34,062	$32,738
Louisville-Jefferson County, Ky.-Indiana *	$33,003	$31,809	$30,775
St. Louis -Illinois *	$32,933	$31,630	$30,503
Sarasota-Bradenton-Venice, Fla.	$31,544	$29,577	$27,875
Charlotte-Gastonia, N.C.-Concord, S.C.	$29,919	$28,524	$27,318
Columbus, Ohio	$28,982	$27,628	$26,457
Albuquerque, N.M.	$28,805	$27,356	$26,102
Jacksonville, Fla.	$26,832	$25,241	$23,863
Nashville-Davidson-Murfreesboro-Franklin, Tenn.	$26,567	$25,181	$23,982
Knoxville, Tenn.	$24,862	$23,663	$22,625
Palm Bay-Melbourne-Titusville, Fla.	$23,090	$21,467	$20,063
Richmond, Va.	$21,500	$19,740	$18,217
Raleigh-Cary, N.C.	$19,004	$17,386	$15,985
Springfield, Mass.	$16,338	$14,591	$13,079
Philadelphia-Camden, N.J.-Wilmington, Del. -Maryland *	$14,492	$12,532	$10,836
Hartford-West Hartford-East Hartford, Conn.	$13,494	$11,405	$9,598
Allentown-Bethlehem, Pa.-Easton, N.J.	$12,779	$11,063	$9,578
Milwaukee-Waukesha-West Allis, Wis.	$12,745	$11,076	$9,632
Virginia Beach-Norfolk-Newport News, Va.-North Carolina *	$10,449	$8,515	$6,842
Orlando-Kissimmee, Fla.	$9,400	$7,433	$5,730
Colorado Springs, Colo.	$4,482	$2,736	$1,224

Source: Center for Economic and Policy Research and the National Low Income Housing Coalition
* Metropolitan area extends across state borders

Topics: Baton Rouge Homes Realtor | No Comments »

Baton Rouge Real Estate Appraisers Reporting Foreclosure Filings Drop

By http://batonrougehomesrealtor.com/ | July 12, 2008

Baton Rouge Real Estate Appraisers Reporting Foreclosure Filings Drop

Source: Baton Rouge Business Report

Statewide foreclosure filings dropped by 17.4% in June from the year before, as one out of every 3,134 Louisiana households received at least one filing. In contrast, the national rate jumped by 53% over the year, according to RealtyTrac, with one out of every 501 households receiving a foreclosure filing. Louisiana continued to rank low on the list of filings by state, coming in with the 43rd highest foreclosure rate in the country during June. Nevada once again had the worst rate in the country, with one out of every 122 households receiving a foreclosure notice in June.

Baton Rouge Real Estate Appraisers

Greater Baton Rouge Home Appraisers Report - Eight Quick Fixes to Increase Your Home\’s Value

By http://batonrougehomesrealtor.com/ | July 7, 2008

8 Quick Fixes to Increase Value

With buyers scarcer, sellers must up the ante to convince them that their property offers what many want most — top value for dollar expended. Here are eight fast fixes:

1. Buff up curb appeal. You’ve heard it before, but it’s critical to get buyers to want to look on the inside. Be objective. View listings from the street. Check the condition of the landscaping, paint, roof, shutters, front door, knocker, windows, house number, and even how window treatments look from the outside. Add something special—such as big flower pots or an antique bench — to help viewers remember house A from B.

2. Enrich with color. Paint’s cheap, but forget the adage that it must be white or neutral. Just don’t let sellers get too avant-garde with jarring pinks, oranges, and purples. Recommend soft colors that say “welcome,” lead the eye from room to room, and flatter skin tones. Think soft yellows and pale greens. Tint ceilings a lighter shade.

3. Upgrade the kitchen and bathroom. These make-or-break rooms can spur a sale. But besides making each squeaky clean and clutter-free, update the pulls, sinks, and faucets. In a kitchen, add one cool appliance, such as an espresso maker. In the bathroom, hang a flat-screen TV to mimic a hotel. Room service, anyone?

4. Add old-world patina. Make Andrea Palladio proud. Install crown molding at least six to nine inches in depth, proportional to the room’s size, and architecturally compatible. For ceilings nine feet high or higher, add dentil detailing, small tooth-shaped blocks used as a repeating ornament. It’s all in the details, after all.

5. Screen hardwood floors. Buyers favor wood over carpet, but refinishing is costly and time-consuming. Screening cuts dust, time, and expense. What it entails: a light sanding, not a full stripping of color or polyurethane, then a coat of finish.

6. Clean out, organize closets. Get sorting—organize your piles into “don’t need,” “haven’t worn,” and “keep.” Closets must be only half-full so buyers can visualize fitting their stuff in.

7. Update window treatments. Buyers want light and views, not dated, fancy-schmancy drapes that darken. To diffuse light and add privacy, consider energy-efficient shades and blinds.

8. Hire a home inspector. Do a preemptive strike, since busy home owners seek maintenance-free living. Fix problems before you list the home and then display receipts and wait for buyers to offer kudos to sellers for being so responsible.

Sources: Ernie Roth, Roth Interiors, Los Angeles; Angel Petragallo, abr, Group One, Boise, Idaho; Melissa Galt, Galt Interiors, Atlanta; Steve Kleiman, CEO, Oakington Realty, Houston; Sid Davis, Sid Davis & Associates, Farmington, Utah, and author of First-Time Homeowners’ Survival Guide (Amacom, 2007); Steve Hochman, Friendly Note Buyers, Roxbury, N.Y.; Margi Kyle, designer and spokesperson for Hunter Douglas.

Greater Baton Rouge Home Appraisers