Geismar LA Housing Shortgage under $200K AND Why Builders Aren’t Entering Market? Locationally, Geismar is a fantastic market close to Interstate 10 and home buyers have voted with their pocketbook, or their banks, to call it home.
Geismar LA Housing Shortgage AND Why Builders Aren’t Entering Market?
Locationally, Geismar is a fantastic market close to Interstate 10 and home buyers have voted with their pocketbook, or their banks, to call it home. YES, there’s a definite shortage of available housing under $200,000 and builders aren’t likely to enter this market to fill that shortage because of available land in flood zones. With the added cost of owning a home in flood zone, builders wouldn’t be able to sell homes as easily. MY ADVICE IS DON’T BUY A HOME IN A KNOWN FLOOD ZONE!
So, I’m working on a Geismar Louisiana Home Appraisals in Rivergate Subdivision, located off Highway 73 and very near Interstate 10. Homes in Rivergate are in 1,500sf to 1,650sf range, built in 2005-2006 and valued in $182,000 to $192,000 range. It was a difficult appraisal assignment because mortgage underwriters, in Suburban locations, demand sold comps, or comparable sales, be located within 1 mile and sold within 90 to 120 days. I WAS NOT able to include enough sold comps to meet these requirements for lack of recent sold comps. Why? Basically because of low supply and homeowners choosing not to sell, not to upgrade and remain in their homes!
ONLY ONE (1) COMPETING LISTING!
Mortgage Underwriters also prefer Ascension Parish Home Appraisers to use 2 to 3 competing listings in an appraisal. Well, I was only able to find one (1) competing listing in the Geismar housing market. Why? Again, because of the shortage of available housing.
See on activerain.com