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.batonrougerealestateminute.com/ – Baton Rouge Real Estate Minute: Old Dutchtown Gonzales LA September 2010 Update.

]]> http://www.ascensionrealestateappraisers.com/north-ascension-parish-real-estate/ascension-parish-real-estate/baton-rouge-real-estate-minute-old-dutchtown-gonzales-la-september-2010-update/feed/ 0 http://www.ascensionrealestateappraisers.com/north-ascension-parish-real-estate/ascension-parish-real-estate/ascension-parish-real-estate-appraisers/with-federal-tax-credit-expiration-ascension-parish-home-sales-numbers-decline-31-into-july-2010/ http://www.ascensionrealestateappraisers.com/north-ascension-parish-real-estate/ascension-parish-real-estate/ascension-parish-real-estate-appraisers/with-federal-tax-credit-expiration-ascension-parish-home-sales-numbers-decline-31-into-july-2010/#comments Fri, 20 Aug 2010 13:01:54 +0000 Ascension Parish Home Appraisers http://www.ascensionrealestateappraisers.com/ascension-parish-real-estate-appraisers/with-federal-tax-credit-expiration-ascension-parish-home-sales-numbers-decline-31-into-july-2010/

http://www.ascensionrealestateappraisers.com/ – With Federal Tax Credit Expiration, Ascension Parish Home Sales Numbers Decline 31% Into July 2010! Prairieville, Gonzales, Geismar, Dutchtown, Saint Amant!

The Baton Rouge Business Report Daily PM Report is report a Capital Region home sales plunge of 21% in July 2010. “The number of homes sold in metro Baton Rouge fell by 21% in July compared with the year before, as the market corrected itself after being bolstered by the federal homebuyer tax credit. There were 523 homes in the Capital Region sold in July, compared with 665 sales in July 2009, according to figures from the Greater Baton Rouge Association of Realtors Multiple Listing Service. An $8,000 tax credit for homebuyers expired earlier this year, and transactions had to be under contract at the end of April to qualify for the money. That led to Capital Region home sales posting 21% and 28% increases in April and May over last year. The average sale price in July was $197,076, down from the $203,735 average in July 2009. Sales were down nearly 31% in Ascension Parish in July, from 111 in 2009 to 77. Livingston Parish saw a 25% drop, from 114 homes changing hands to 85. In East Baton Rouge, there was a 24% drop in home sales, from 414 to 313. The other category, which includes MLS sales in West Baton Rouge, Iberville and the Feliciana parishes, actually saw an 85% increase, from 26 to 48. Through the first seven months of the year, home sales continued to run slightly ahead of the 2009 pace. There were 4,107 homes sold through the end of July, up 3% from the 3,985 sales total at the end of July 2009.”

http://www.ascensionrealestateappraisers.com/ – Northern Ascension Parish Louisiana Real Estate Appraisers – Accurate Valuations Group 225-293-1500. Prairieville, Gonzales, Geismar, Sorrento, Dutchtown, Saint Amant Louisiana.

http://www.ascensionrealestateappraisers.com/ – Geismar Dutchtown FHA Appraisers Report On Old Mill Subdivision

A market analysis of solds from 8/1/2008 to 11/23/2009 within Old Mill Subdivision shows an overall median sales price decline of -3.58% on what appears to be low volume.  However, the Listing Price To Sales Price Ratio still remains high or favorable at 100% of listing price.  The chart below represents solds from 1/1/2007 to 11/23/2009. 

According to the Old Mill HOA Website, “ Old Mill is located in one of Ascension Parish’s most convenient areas, just 20 miles south of Baton Rouge, Louisiana and 60 miles north of New Orleans, Louisiana.  Old Mill is a short drive from numerous services, entertainment centers and a wide choice of shopping including nearby Tanger Outlet Mall and The Mall of Louisiana.  With a rural community feel, the “Dutchtown” area is also well recognized for the outstanding quality of its schools including Dutchtown Primary, Dutchtown Middle and Dutchtown High (Go Griffins!).  Key points of interest near Old Mill include beautiful Spanish Lake as well as several antebellum homes including the famous Houmas House and Oak Alley homes.  A short drive away and you can either be living it up in the Big Easy or meeting friends for dinner in Baton Rouge.  With Old Mill’s easy access to I-10, the choice is yours!“

1004MC of Old Mill Itself