http://www.ascensionrealestateappraisers.com/ - Ascension Parish Home Appraisers, Prairieville Louisiana 70769 Manchac Harbor Subdivision 2010 Update. Housing Numbers Report. Greater Baton Rouge Real Estate Trends Report.

http://www.homeappraisalsbatonrouge.com/ – Does a garbage disposal have to work for a Greater Baton Rouge FHA loan?

As a State Certified Home Appraiser in Louisiana and FHA/HUD approved appraiser since 1996, I can validate that FHA Home Loans have strict requirements of operational mechanical systems placed upon the home appraiser to inspect and verify. While home appraisers aren’t necessarily “home inspectors”, FHA home appraisers are required to verify that mechanical systems are functioning properly and that they would appear to have a reasonable life left.

HUD or FHA Home Appraisers are expected to be well versed on 2 major manual plus keeping up the “Mortgagee Letters” that offer amendments and updates to HUD policy. In fact, the statement many lenders want placed in reports is, “Condition: Overall Condition is: Average. No major repairs or functional inadequacies. MEETS FHA/RD MINIMUM STANDARDS for existing dwellings as outlined in HUD Handbooks 4150.2 and 4905.1 Requirements and all applicable Mortgage Letters). SFR Dwelling was determined to be decent, safe and sanitary. Subject is connected to public or community sewer. Mechanical Systems were on and operational. Attic was inspected and appears to individually meet FHA requirements.” No, the lenders don’t tell us to use “Average” but to state a condition rating. And, FMHA or Rural Development and VA loans also have these same requirements as well.

So, can a inoperable garbage disposal hold up an FHA loan closing until repaired? There are four (4) national HUD HOC’s or Homeownership Centers in the U.S.. For Louisiana, the HUD HOC is located in Denver, CO. I called the Denver HOC Appraiser Tech Support Department at 1-800-543-9378 for a verifiable answer to this question. I spoke with “Gary” and he said that NO, the inoperable garbage disposal WILL NOT HOLD UP A CLOSING because FHA doesn’t require appliances to be installed in homes. Gary said that includes Range/Ovens, Dishwashers or Garbage Disposals. Gary said that this is a “condition” issue and that FHA appraisers should apply deductions to the subject property if the comps used have appliances and superior functioning appliances.

BEFORE YOU BUY THAT HOME, GET A HOME INSPECTION!

In the early 2000′s with FHA’s introduction of the HUD Form “HUD-92564-CN” For Your Protection: Get A Home Inspection, FHA made the distinction between the home appraiser and the home inspector and strongly recommended home buyers obtain a home inspection. This appraiser also recommends you obtain a home inspection as well to know the true condition of mechanical system and a more accurate remaining economic life. Home appraisers are fairly limited on their knowledge of such systems but home inspectors are trained to know these systems and know them very well.

Just remember that if you as a home buyer receive notice that there are FHA mandated repairs on the home being purchased, know that this is for your benefit and that generally the seller will be required to repair these items prior to closing.

Bill Cobb, with Accurate Valuations Group, is a long time FHA Home Appraiser within the Greater Baton Rouge housing market. Bill can be contacted at 225-293-1500 or info@accuratevg.com .

First Garbage Disposal Source Photo: http://www.thehandyblog.com/disposal.php

Second Garbage Disposal Source Photo: http://appliancefactory.com/

http://www.ascensionrealestateappraisers.com/ – Appraisers In Ascension Parish: Fairmont Garden Homes Sudivision 2010 Price Trends.

Overall, there were two (2) 2010 sales which brought the median sales price higher than 2009′s $154,900 and lower than 2008′s $159,450. In 2010 as compared to 2009, the Average Sales Price has increased 0.44%, Median Sales Price has increased 2.3% and Average Sold Price Per Sq. Ft. has increased $0.25/sf.

Solds In Fairmont Garden Homes Subdivision from 1/1/2010 to 12/31/2010 revealed:

Average Sales Price: $158,500 ($157,800 in 2009)
Avg Sold $ Per Sq. Ft.: $112.03/sf ($111.78/sf in 2009)
Median Sold Price: $158,500 ($154,900 in 2009)
Number of “MLS” Sales: 2 (3 in 2009)
Average Number of Days On Market: 129 (109 in 2009)
Low To High: $155,000 to $162,000
Number of Sold REO/Foreclosures Noted In MLS: 0
Current # Listings: 2, 0 Are Foreclosures
Current Listings Prices: $149,900 to $152,000 or $112/sf to $113/sf.

NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of January 1, 2009 to December 31, 2010. This information was extracted on 1/10/2011. Yes, this appraiser has obtained permission from GBRAR MLS to use the above pricing chart!

Tags: Ascension Parish Real Estate, Baton Rouge Appraisers, Baton Rouge Housing Market, Baton Rouge Real Estate, Baton Rouge Real Estate Buzz, Baton Rouge Real Estate Trends, Ascension Parish Appraisers, FHA Appraisers Ascension Parish,

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

http://www.batonrougerealestatebuzz.com/ – Baton Rouge Housing Market Metrics New Three Year Study of Jefferson Crossing

Baton Rouge Housing Market Metrics New Three Year Study of Jefferson Crossing: Northern Ascension Parish Housing Market Metrics: Jefferson Crossing 3 Year Study

]]> http://www.ascensionrealestateappraisers.com/north-ascension-parish-real-estate/ascension-parish-real-estate/baton-rouge-housing-market-metrics-new-three-year-study-of-jefferson-crossing/feed/ 0 http://www.ascensionrealestateappraisers.com/north-ascension-parish-real-estate/ascension-parish-real-estate/greater-baton-rouge-real-estate-trends-manchac-place-september-2010-update/ http://www.ascensionrealestateappraisers.com/north-ascension-parish-real-estate/ascension-parish-real-estate/greater-baton-rouge-real-estate-trends-manchac-place-september-2010-update/#comments Wed, 08 Sep 2010 16:05:18 +0000 Ascension Parish Home Appraisers http://www.ascensionrealestateappraisers.com/ascension-parish-real-estate/greater-baton-rouge-real-estate-trends-manchac-place-september-2010-update/

http://www.ascensionrealestateappraisers.com/ - Greater Baton Rouge Real Estate Trends: Manchac Place September 2010 Update

Solds In Manchac Place from 1/1/2010 to 9/8/2010 revealed:
Average Sales Price: $301,543

Average Sold Price Per Sq. Ft.: $103.89/sf

Median Sold Price: $305,000
Number of Sales: 7

Average Days On Market: 74

Low To High: $247,000 to $356,900

Number of Sold REO/Foreclosures Noted In MLS: 0

Current # Listings: 5, 1 Foreclosure

Current Listings Prices: $272,000 To $295,000, Average $99.86/sf or $88/sf for the larger homes to $112/sf for the smaller living area homes

NOTE: Data Used With Permission of the GBRAR GBRMLS. Data was extracted on 9/8/2010 from periods 1/1/2010 through 9/8/2010.

http://www.ascensionrealestateappraisers.com/ – Greater Baton Rouge Real Estate Appraisers: August 2010 Keystone of Galvez Prairieville Update

Keystone of Galvez Numbers! In 2010, there have been 45 total sales with an Average Sold Price of $165,187, Median Sales Price of $160,900, Average Sold Price per sq. ft. $108.49/sf and Average Days On Market 106 days. In 2009, there were 70 sales so it appears 2010 sales will equal 2009 sales numbers. Average Sold Price Per Sq. Ft. increase 2010 over 2009 is $0.50/sf. Data Used With Permission of GBRAR MLS. Data was extracted on 8/16/2010 from periods 1/1/2010 through 8/16/2010.

Tags: Baton Rouge Real Estate, Baton Rouge Real Estate Agents, Baton Rouge Realtors, Greater Baton Rouge Real Estate, Real Estate Baton Rouge, Keystone of Galvez, Prairieville La, 70769

http://www.batonrougerealestatebuzz.com/ – Greater Baton Rouge Real Estate Buzz: Keystone of Galvez Prairieville August 2010 Update

Keystone of Galvez Numbers! In 2010, there have been 45 total sales with an Average Sold Price of $165,187, Median Sales Price of $160,900, Average Sold Price per sq. ft. $108.49/sf and Average Days On Market 106 days. In 2009, there were 70 sales so it appears 2010 sales will equal 2009 sales numbers. Average Sold Price Per Sq. Ft. increase 2010 over 2009 is $0.50/sf. Data Used With Permission of GBRAR MLS. Data was extracted on 8/16/2010 from periods 1/1/2010 through 8/16/2010.

Tags: Baton Rouge Real Estate, Baton Rouge Real Estate Agents, Baton Rouge Realtors, Greater Baton Rouge Real Estate, Real Estate Baton Rouge, Keystone of Galvez, Prairieville La, 70769

http://www.ascensionrealestateappraisers.com/ – Prairieville La 70769 Video: Seven Oaks Subdivision June 2010 Housing Update. Baton Rouge Real Estate Buzz. From 1/1/2009 to 6/18/2010, based on data used with permission from GBRAR MLS, the Average Sold Price has been $295,160, Median $288,000, Low $260,000, High $417,000, Average Sold Price Per Sq. Ft. $117/sf and Average Days On Market 80 Days.

http://www.batonrougebpoappraisals.info/ - Home Of The Greater Baton Rouge Similar Sales Desktop Valuation Reports (SSDVR) – Compliant With USPAP & Fannie Mae & Freddie Mac, 225-293-1500

Welcome To The $100. 00 Greater Baton Rouge Comparable Sales Reports! Greater Baton Rouge Comparable Sales Reports Is A Desktop Appraisal Service Performed By William D. Cobb with Accurate Valuations Group, Serving East & West Baton Rouge Parish, Northern Ascension Parish and Western Livingston Parish. William Uses An Approved Fannie Mae & Freddie Mac Appraisal Form (SSDVR) To Complete This Report.

What Is An SSDVR Report? A desktop appraisal report conducted by Louisiana State Certified Appraiser, William D. Cobb, CREA, License #R0851. Bill will drive-by the home being appraised, rely upon the physical data the client provides, research the MLS database, select the 3 most similar and competitive sales/comps and render a value opinion.