http://www.ascensionrealestateappraisers.com/ – Dutchtown Geismar La Housing Market Slowsdown and Corrects Big Time in 2011….at least in Dutchtown Villas Subdivision!

I received an email this week which alerted me to a major slowdown in the Dutchtown Geismar Louisiana housing market, or at least in Dutchtown Villags Subdivision. The trends chart is below and may be too small to read the stats so I enlarged them immediately below.

Now, there are approximately 75 homes in this development, Garden style homes in the 1500sf to 1650sf range. What one recognizes right off is the drop off in sales, from 10 in 2008 to only 3 in 2009, none in 2010 and 3 in 2011. To me, this would appear to be a good indication which shows stability within the development – not much turn-over of satisfied residents. However, since 2008, the Average Sold Price has declined from $192,900 to $170,700 in 2011, which is -$22,200 or -11.5%. The Median Sold Price has declined from $192,750 to $176,000 in 2011, which is -$16,750 or -8.7%. And, in 2009, the Average Sold Price per Sq. Ft. was $122/sf versus only $113.48/sf in 2011, which is -$8.42/sf or -7%.

The Greater Baton Rouge Housing Market Correction and Slowdown I’ve been reporting on in 2011 is real and I don’t expect these numbers to improve anytime soon.

NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of January 1, 2008 to October 11, 2011. This information was extracted on 10/10/2011. YES, this appraiser does have the permission of GBRMLS to use the chart above Subdivision Price Trends Report!

Author: Bill Cobb, Appraiser Accurate Valuations Home Appraisal Group.

Tags: Ascension FHA Appraisers, Ascension Home Appraisers, Ascension Parish Appraisers, Ascension Parish Home Appraisers, Ascension Parish Real Estate, Ascension Parish Real Estate Appraisers, Ascension Parish Realtors, Dutchtown Villas, Housing Correction

http://www.ascensionrealestateappraisers.com/ – Geismar Dutchtown Home For Sale: 37235 Audubon Park Ave, Geismar, LA 70734

From Youtube:

“37235 Audubon Park Ave Geismar, LA Sterling Hall Emerge Properties of LA http://www.realestatebook.com/homes/l… Nestled off Millerville in a quiet newer neighborhood that rarely has homes for sale! You can’t help but notice the great curb appeal of the landscaping (includes a professionally installed sprinkler system for flower beds). This is one of the only homes that has the benefits of a gutter system. The home makes great use of every square foot available. Entering through the grand front door, the separate formal dining room/study is located at the front of the home with a great vaulted ceiling. To the left, you will find the two additional spacious bedrooms, full bathroom and pass through laundry to the 2 car garage. Entering the entertaining area of the home, you will find the great space shared by the open kitchen, breakfast area and the large living room. The kitchen has features that include: ceramic tile counters, great breakfast bar and additional counter space, sleek black appliances, double door pantry, recessed lighting and an abundance of cabinet space. The living room must-haves include wood floors, multiple windows for added natural lighting and a corner gas ventless fireplace. Off the living room is the owners retreat with a master bedroom large enough for all of your furniture, a master bathroom with his/her sinks, private water closet, corner tub, separate shower and a huge master closet! Heading upstairs will take you right into the bonus room perfect for a game room, media room, or even additional bedroom.”

http://www.batonrougemarketmetrics.com/ – Greater Baton Rouge Housing Trends: Indepth Look At 2010 Home Sales Numbers

The LREC or Louisiana REALTORS are reporting on comprehensive housing numbers for 2010, including 4th quarter 2010. So, the source for this report and charts and graphs is LREC.

NUMBER OF SALES DOWN 7.3%. Overall, the number of Greater Baton Rouge Home Sales was down 7.3% for 2010. Total volume for 2010 was 5,708 versus 6,160 for 2009.

AVERAGE SALES PRICE. The average home sales price increased in 2010 to $202,138 vs $197,587 for 2009. This would appear to be due to strong local employment numbers of 355,797 in 2010 versus 354,044 in 2009. However, the Baton Rouge Business Report just reported this morning that “B.R. home price index drops for fifth month running“. So, according to the CoreLogic Home Price Index for Louisiana, Baton Rouge home prices are continuing to correct to the downside, not the upside, and I would agree. And, a look at the median sales prices would be more helpful than average sales prices since average sales prices can include homes from $10,000 up to $3,000,000 – outliers.

SOME IMPROVEMENT. Not all areas are declining though, but marketing time periods are well over 6 months. I’m appraising the 2011 St. Jude Dream Home in Prairieville and the general market of competing solds and listings is showing a rising median sales price, but very long marketing time periods of well over 6 months. Some homes in one local high end development on Highway 73 in Prairieville have been on the market since 2008 without selling.

AVERAGE DAYS ON MARKET. The average days on market remained almost unchanged at 90 days in 2010 versus 91 in 2009.

http://www.estateappraisersinbatonrouge.info/ – When Settling Estates, Baton Rouge Home Appraisals Are Important!

Home appraisals for settling an estate is not an easy process after the death of a loved one, legally and emotionally, this presents different variables when taking control of all possessions left. From all the posterior decisions about the beloved one’s wealth, it is important to derive this precept, that a certified estate layer is the right person to assist and advice all the process involved in the distribution of property and possessions. Obtaining a home appraisal for settling an estate is the most accurate procedure when making decisions that affect family members, friends, and other associates. In this respect, estate appraisers in Baton Rouge are the best solution to obtain a home appraisal to make this process easier and fairer to all people involved.

Baton Rouge estate appraisers are a great deal of the estate settlement process since they accurately determine a property’s value. Given all the variables involved in the process such as emotions and speculation, estate appraisers Baton Rouge can provide detailed official documents concerning the value of an estate. Certainly, this appraisal is done through reliable and clear studies of the property so that there is no place for conjectures or disputes among heirs and/or tax agencies. Certainly, this will help to simplify all solutions about current taxes and to appraise inheritance tax liability, if necessary.

There are certain characteristics of property appraisals, of which the unknown factors significantly affect the estate settlement process itself. In this sense, estate appraisals are not absolute since there are certain characteristics out of the appraiser’s reach. Great affairs of state such as economic recession have shown how well-made appraisals can become imprecise or obsolete after some months or weeks. Nonetheless, estate appraisers Baton Rouge rely heavily on fundamental variables like lot size, property’s age, number of rooms, amenities, and geographic location. Subsequently, these variables are compared with other properties appraised in order to adjust values.

Baton Rouge estate appraisals always include detailed documentation concerning the settlement process of the given property. These documents clearly explain how the estate was valued by taking into account all its characteristics and variables. This process is followed through special standards, depending on the property and the reasons to appraise it, estate appraisals Baton Rouge follow the right one.

In relation to this, it may be suggested, that services from Baton Rouge estate appraisers provide amiable and effective estate appraisals. Baton Rouge home appraisals are important when settling estates simply because they serve as neutral mediators in the final settlement of a property’s value. This way, people involved will always get the fairest part of any estate left by someone. A good way to accomplish this process is to get the services of a certified local appraiser who clearly understands the area. In this case, Baton Rouge estate appraisers are the perfect choice when looking for home appraisals in this specific area.

In brief, estate appraisers in Baton Rouge have the knowledge, experience, and impartiality required to yield accurate estate settlements. Given the fact that they have nothing to gain or lose in any estate settlement process, all individuals involved in the process will obtain more benefits.

Biil Cobb, with Accurate Valuations Group, is Greater Baton Rouge’s Home Appraiser frequently called upon by banks, homeowners, and savvy real estate investors to assess home values. A home appraiser with 18 years experience, Bill Cobb brings a wealth of knowledge to the table as a home appraiser in East Baton Rouge Parish, West Baton Rouge Parish, Western Livingston Parish and Northern Ascension Parish.

Tags: Baton Rouge Appraisers, Baton Rouge Home Appraisers, Baton Rouge Housing Market, Baton Rouge Real Estate, Baton Rouge Real Estate Appraisers, Baton Rouge Estate Appraisers, Baton Rouge Estate Settlement Appraisers, Baton Rouge Estate Settlement Appraisals

http://www.batonrougerealestatebuzz.com/ – Baton Rouge Real Estate Buzz: GBR Weekly Market Update For 11-05-2010

This Section presents the Weekly Market Updates of the GBRAR MLS activity. The search parameters are generally all home prices ranges and types (except manufactured housing) in East & West Baton Rouge, Ascension and Livingston Parishes.

Greater Baton Rouge Housing Weekly Market Update For 11-05-2010, Click the image below to see the larger, zoomed in view:

NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of October 30, 2010 to November 6, 2010. This information was extracted on 11/08/2010.

Tags: Baton Rouge Housing, Baton Rouge Housing Market, Baton Rouge Real Estate, baton rouge real estate agent listings, Baton Rouge Real Estate Buzz, Baton Rouge Real Estate Minute, Baton Rouge Real Estate Trends, Baton Rouge Realtor, Baton Rouge Realtors

http://www.batonrougerealestateappraisal.com/ – Greater Baton Rouge Home Appraisers: One Year Housing Study Released!

Accurate Valuation Group has released a 1 year and 3 year study on Greater Baton Rouge Housing – Facts, Prices, Trends! The 1 year study includes 10 charts and 3 year includes 9 charts.

Click here to view the 1 Year Study!

Click here to view the 3 Year Study!

http://www.batonrougerealestatetrends.net/ – 2010 Comprehensive Greater Baton Rouge Foreclosure Numbers and Charts Released

East Baton Rouge Foreclosure Trends: East Baton Rouge 2009 2010 Foreclosure Sales Numbers! 2010 Foreclosures total 12% of sales YTD; 2009 Foreclosures totaled 11%. 7% of all EBR MLS Listings are Foreclosures! Foreclosures are negatively impacting this market.

Where Are The 2010 East Baton Rouge Foreclosures Concentrated?

AREA 11 FORECLOSURES, Primarily Baker. In Area 11 in 2010, there have been 33 solds in Baker and 13 in Zachary. In 2009 and 2010, the Baker market has experienced a significant amount of fore closure activity as it was one of the markets where real estate investors flipped houses at high prices to post Hurricane Katrina buyers. Fore closure activity is cyclical in the Baker market, just as it is in the other troubled lower priced markets in Areas 31, 41 and 53. So, the fact that Baker is a higher than average REO market is no surprise to this appraiser.

In Baker, the subdivisions experiencing the higher percentage of fore closure sales were Baker Estates, Baker Heights, Baker Hills, Baker Lots & Acres and Brown Heights. In Zachary, the subdivisions experiencing the higher percentage of fore closure sales were Oak Shadows, Castle Place, Deer Park and The Cottages AT Blue Heron Lakes – those expensive town homes, expensive for the Zachary market.

AREA 31 FORECLOSURES (70802 & 70805). In Area 31 since 2008, there has been a significant amount of fore closure activity in the 30%+ of total sales range as it was one of the markets where real estate investors flipped houses at high prices to post Hurricane Katrina buyers.

AREA 41 FORECLOSURES (Park Forest Area). In Area 41 since 2008, there has been a significant amount of fore closure activity broadly throughout this market. In Area 41, the subdivisions experiencing the higher percentage of fore closure sales were Forest Oaks, Park Forest, Park Forest East, Villa Del Rey (9 reo sales in 2010) and Windsor Place.

AREA 43 FORECLOSURES (Some Surprises). A higher fore closure rate in Area 43 is an example of how this is a different market downturn than in the 1980s and 1990s. In this downturn after the mortgage meltdown, the fore closure activity AND FUTURE LOCAL FORECLOSURE ACTIVITY are located in ALL income brackets throughout all of Greater Baton Rouge. Hurricane Katrina may have been a blessing for sellers in 2005 and 2006, but some of the resales at lower than purchased prices and some of the resulting fore closures are a part of the 12% REO solds rate for EBRP.

In Area 43, the subdivisions experiencing the higher percentage of fore closure sales were High Point, Lake At White Oak (a surprise, higher priced homes), O’Neal Place (no surprise), Old Jefferson (no surprise), Shenandoah (a surprise) and higher priced Condos in Windsor Village (no surprise in the over supplied Baton Rouge Condo market and some of these condos were marketed to and sold to California investors who are now giving these back to the the banks possibly because of challenges with the California market now).

AREA 53 FORECLOSURES (1 Surprise – University Club). In Area 53 since 2008, there has been a significant amount of fore closure activity broadly throughout this market. In Area 53, the subdivisions experiencing the higher percentage of fore closure sales were Hermitage, Mayfair Park, Perkins Village, University Club Plantation (3 and very higher end homes), and Village St George.

Ascension Parish Foreclosure Trends: 2009 2010 Foreclosure Sales Numbers! 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.

Where Are The 2010 Ascension Parish Foreclosures Concentrated?

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%.

Livingston Parish Foreclosure Trends: 2009 2010 Foreclosure Sales Numbers! 2010 Foreclosures total 13% of sales YTD; 2009 Foreclosures totaled 9%, an increase of +2% since 2009. 7% of all Livingston MLS Listings are Foreclosures! Foreclosures are negatively impacting this market.

Where Are The 2010 Livingston Parish Foreclosures Concentrated?

AREA 80 2010 FORECLOSURES. In Area 80 in 2010, there have been 17 solds. The vast majority of these foreclosure solds were “Rural” properties and 3 in Three Rivers Island.

AREA 81 2010 FORECLOSURES. In Area 81 in 2010, there have been 51 solds. These foreclosures were concentrated in Acadiana Place, Easterly Lakes, Gravesbriar, Hidden Oaks Condos, Linda Lee, Richmond Place, Watson Little Farms, Wisteria Place and Wolf Creek Place. Wisteria Place is no surprise to this appraiser for a development which has experienced marketing challenges since the beginning.

AREA 82 2010 FORECLOSURES. In Area 82 in 2010, there have been 21 solds. The vast majority of these foreclosure solds were “Rural” properties and 2 in Spring Lake. There were 1 each in Lakes at Fennwood, Lakeview Acres, Live Oak Landing, North Walker Estates, Park Place, Peaks Crossing, Shalimar and Tall Oaks.

AREA 83 2010 FORECLOSURES. In Area 83 in 2010, there have been 24 solds. These foreclosures were concentrated in Forest Ridge, Plantation Park, South Point, Westminister Estates and Woodland Crossing. There were 1 each in Carter Hills, The Cove, Falconcrest, Quail Run Acres, South Haven and Stone Hill.

West Baton Rouge Parish Foreclosure Trends: 2009 2010 Foreclosure Sales Numbers! 2010 Foreclosures total 7% of sales YTD; 2009 Foreclosures totaled 5%, an increase of +2% since 2009. 4% of all MLS Listings are Foreclosures! Foreclosures are only moderately impacting this market.

There’s A Major “Caveat” with the numbers below! 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.

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.

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.

http://www.ascensionrealestateappraisers.com/ – Ascension Parish Foreclosure Trends: 2009 2010 Foreclosure Sales Numbers! 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 negatively impacting this market. There’s A Major “Caveat” with the numbers below!

The chart below 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.

Let’s put these foreclosure numbers into perspective! In 2009, there were a total of 1,242 sales. 78 foreclosure sales in 2009 represents only 6% of total sales. In 2010, there have been a total of 983 sales. 68 foreclosure sales in 2010 as of 10/16/2010 represents only 7% of total sales. The projected number of reo / fore closures at end of 2010 is approximately 89.

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.

http://www.batonrougerealestatebuzz.com/ – Baton Rouge Real Estate Buzz: Listen To NAR’s Real Estate Today Show For October 16, 2010!

Each Saturday, the NATIONAL ASSOCIATION OF REALTORS® hosts the “Real Estate Today Radio” show with award-winning broadcaster, Gil Gross. The “About” section says:

“Real Estate Today opens doors for buyers and sellers with critical and credible information on the real estate market. It’s fast paced and fact packed with experts, interviews, call-ins, field reports, and timely market conditions.

On radio stations, satellite, and podcasts… even cell phones, Real Estate Today is your instant connection to the American Dream of home ownership.”

The Blog for this show is located at http://www.retradio.com/blog/ .

Today’s show covers the topics listed below:

Listen to today’s show, click the play button below!