FHA Appraisers Baton Rouge Louisiana » Baton Rouge Appraisals

Greater Baton Rouge Real Estate News Video Resource: http://www.batonrougehousingreports.com/

FHA Appraisers Baton Rouge Louisiana — Sat, 10 Dec 2011 05:58:50 +0000

Baton Rouge Real Estate News Video Resource: http://www.batonrougehousingreports.com/

Why Baton Rouge Housing Reports?

Because a home is the largest, most important investment most locals make in their lifetimes. Because of the importance of getting this decision right, housing market facts, trends and analysis are provided to help locals execute competent, informed home purchase or home selling decisions.

There’s a new Premier web video resource in Baton Rouge with a residential focus: Baton Rouge Housing Reports Dot Com. This site offers the good news in our market as well as the on-going correction, tips on what improvements really add value, local REALTOR® video update of the month, local real estate expert interviews, local remodeler’s tips, trends videos, monthly and quarterly reports, Top 150 Subivisions trends, current housing charts and stats, gbrmls stats, local NAR stats, special investigative series and a long list of local online resources. Visit Us for the scoop on local housing.

Baton Rouge Housing Reports Dot Com – Local Real Estate Professionals Providing Trends, Analysis & Tips Helping Locals Make Informed Housing Decisions!

Keywords: Baton Rouge Real Estate, Baton Rouge Homes, Baton Rouge Housing, East Baton Rouge, Greater Baton Rouge, Baton Rouge Realtors, Baton Rouge Real Estate Agents, Baton Rouge Homes For Sale, Baton Rouge Home Appraiser, Baton Rouge Home Appraisal

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Baton Rouge Video Tours: Real Estate Market Report Of Villa Del Rey Subdivision 2011

FHA Appraisers Baton Rouge Louisiana — Wed, 04 May 2011 02:35:57 +0000

http://www.appraisersinbatonrouge.com/ – Baton Rouge Real Estate: How Is Villa Del Rey Subdivision Performing Into 2011, Increasing, Declining or Remaining Steady?

Potential $20K Loss. This is an on-going series into the decline of Greater Baton Rouge Home Values and why potential buyers should beware and not pay too much for “some” local overpriced listings. YES, there are overpriced listings in the Greater Baton Rouge Housing Market! Bill strongly recommends in this housing environment to obtain a Pre-Purchase Appraisal to gain ALL of the facts before making a local home purchase decision. In the appraisal I recently completed, the home sold for $155,900 in 2007, a Post Hurricane Katrina high price, and is now on the market for $136,000. If this home sells for $136,000, then homeowner only loses $20,000 and will lose a total of $28,160 after paying the selling commission.

A recent home appraisal in and analysis of Villa Del Rey revealed this interesting finding. From 2009 to 2010 to 2011, the median sales price has declined from $145,000 to $137,500 to now $136,000 (chart below is not updated) into 2011 based only on 3 sales. This drop is due to foreclosure and/or distressed sales. Actually, the chart below is incorrect because GBRMLS reports “38″ solds in 2010, not just 33, with a median of $137,500. Of those 38 sales, 11 or 29% were foreclosures, which is quite high. And, in 2011, the 3 solds only sold for $119,000, $136,000 and $139,000 indicating these sold below market.

THE CORRECTION IN HOME PRICES – This is becoming the familiar “Stair Step Up and Down”…..The Climb And Then Descent Of The Stairs In This Chart Below Visually Explains The Correction!

NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of January 1, 2005 to May 3, 2011. This information was extracted on 5/3/2011. YES, permission was granted by GBRMLS to use Subdivision Price Trends Chart Report!

AUTHOR’S BIO:

Bill Cobb is Greater Baton Rouge’s Home Appraiser frequently called upon by banks, homeowners, and savvy real estate investors to assess property values. A home appraiser with 20 years experience, Bill Cobb brings a wealth of knowledge to the table as a home appraiser.

Bill’s company, Accurate Valuations Group, serves Greater Baton Rouge (East Baton Rouge Parish, West Baton Rouge Parish, Western Livingston Parish and Northern Ascension Parish).

Contact Bill Cobb and Accurate Valuations Home Appraisal Group for your next home appraisal:
Office: 225-293-1500, Cell: 225-953-0638
Fax: 1-866-663-6065
info@accuratevg.com
http://www.accuratevg.com/

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Baton Rouge Real Estate Appraisers Report On 2010 vs 2011 Housing Market

FHA Appraisers Baton Rouge Louisiana — Sat, 09 Apr 2011 19:18:49 +0000

http://www.batonrougerealestateappraisers.net/ – East Baton Rouge Parish Quarterly Sales By Zip Code Q1 2010 versus Q1 2011 Report. Report shows an increase in number of home sales over 2010, but significant declines in Average Sales Prices overall. Report includes ALL housing types in East Baton Rouge Parish.

Accurate Valuations Group (Home Appraisals) has completed an analysis of the East Baton Rouge Parish housing market from First Quarter 2010 versus First Quarter 2011. The results are below. Click the chart to view in a larger size.

This is a lot of data to report on in one (1) article with “20″ zip codes. A short summary follows:

Number of Home Sales Increased Over 2010! For the number of home sales, only 9 zip codes reported a smaller number of sales. And, Ten (10) Zip Codes experienced more sales in Q1 2011 than in Q1 2010, which is great news for our market.

Average Sales Prices Overall Decline! This is consistent with the CoreLogic report on national home prices falling for the 7th straight month, as reported on Thursday, April 7, 2011. Thirteen (13) of the 20 Zip Codes showed declining average sales prices versus only Seven (7) showing increases. Local home prices are continuing to correct.

Average Sales Price Per Square Foot Overall Declines! This is consistent with the CoreLogic report. Fifteen (15) of the 20 Zip Codes showed declining average sales prices per sq. ft. versus only Seven (5) showing either no change or just slight increases.

Biggest Gainers. Zip Code 70807, the Scotlandville market, showed a 450% increase in number of home sales. Zip Code 70739, the Central or Greenwell Springs market, showed a +16.2% increase in Average Sales Prices AND +5.6% in Average Sales Price Per Sq. Ft.. Central is a “hot” market viewed by locals as having a favorable school district.

Largest Declines. Zip Code 70820, the market below LSU off Brightside, showed a -35.3% decrease in number of home sales. Zip Code 70802, the market in and around Central Business District, showed a -33.4% decline in Average Sales Prices AND -30.2% decline in Average Sales Price Per Sq. Ft..

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Author’s Bio:
Bill Cobb is Greater Baton Rouge’s Home Appraiser frequently called upon by banks, homeowners, and savvy real estate investors to assess property values. A home appraiser with 20 years experience, Bill Cobb brings a wealth of knowledge to the table as a home appraiser.

Bill’s company, Accurate Valuations Group, serves Greater Baton Rouge (East Baton Rouge Parish, West Baton Rouge Parish, Western Livingston Parish and Northern Ascension Parish).

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Baton Rouge Housing Trends: Shenandoah Hills Subdivision 2010 Home Prices Increase

FHA Appraisers Baton Rouge Louisiana — Sun, 02 Jan 2011 04:06:38 +0000

http://www.batonrougerealestateappraisers.net/ – Baton Rouge Housing Trends: Shenandoah Hills Subdivision 2010 Home Prices Increase!

Solds In Shenandoah Hills Subdivision from 1/2010 to 12/31/2010 revealed:

Average Sales Price: $146,357 ($133,260 in 2009)
Average Sold Price Per Sq. Ft.: $108.12/sf ($99.34/sf in 2009)
Median Sold Price: $149,500 ($132,500 in 2009)
Number of Sales: 7 (5 in 2009)
Average Number of Days On Market: 44 (48 in 2009)
Low To High: $129,900 to $152,000
Number of Sold REO/Foreclosures Noted In MLS: 0
Current # Listings: 3, 0 Are Foreclosures
Current Listings Price: $140,900 to $150,900 or $105 to $113/sf

The Median Sales Price has increased from $132,500 in 2009 and $144,000 in 2008 to $149,500 in 2010.

NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of January 1, 2010 to December 31, 2010. This information was extracted on 1/1/2011. YES, this appraiser does have the permission of GBRMLS to use the chart above Subdivision Price Trends Report!

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

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Baton Rouge Home Appraisers Release Major Study On Broadmoor Sherwood Forest Market For 2010

FHA Appraisers Baton Rouge Louisiana — Fri, 08 Oct 2010 11:49:15 +0000

http://www.batonrougerealestatetrends.net/ - Baton Rouge Home Appraisers Release Major Study On Broadmoor Sherwood Forest Market For 2010! The challenges local home appraisers now face when valuing Greater Baton Rouge homes after the Federal Tax Credit Expiration.

I recently completed a refinance appraisal assignment off Sharp Rd and witnessed a trend I wanted to bring your attention to. This is still the recovering Post Hurricane Gustav market of MLS Area 42, zip code 70815, generally Broadmoor and Sherwood Forest areas. I say Post Hurricane Gustav because Gustav’s damage in 9/2008 disrupted this housing market more than most realize. I believe the 2 weeks it took to restore utilities had a psychological impact on this market as home sales prices dipped, see chart below. Chart represents home sales from $100K to $300K in 70815 from 1/1/2007 to present.

As a home appraiser appraising in any local market that is now NOT always increasing every year as in prior years, it’s now crucial to know where the market has been, where it is now and where it might be in the future.

Cautions On Interpreting Market Data Post Federal Tax Credit Expiration. This post below illustrates that just because the Federal Tax Credit artificially elevated home sales and possibly home prices, doesn’t indicate an always favorable appraised value for your home. The word favorable is a favorable value in the home owner’s mind, not necessarily market reality. The areas listings inventories or homes for sale, has been building or increasing for months now while at the same time home sales have been slowing. This could be attributable to the national economy finally catching up with the local economy, more difficulty now in qualifying for a mortgage and/or the shift within the Greater Baton Rouge housing market toward more affordable housing, ie., closer to $100/sf versus $135/sf to $160/sf.

Appraisal Assignment: 38 year old 2,850sf living area home, 3 Bedroom, 2.5 Baths, off Sharp Rd in between Broadmoor and Sherwood Forest areas.

MLS Search Parameters

3 to 5 Bedroom Slab Homes in Area 42 Between $150,000 to $275,000, Zip Code 70815, 10/4/2008 to 10/7/2010, Ages 16-20 to Max Age.

Sold Results: Median Sales Prices!

Sold results indicate an increasing median sales price since 10/4/2008 of +11% and +7.5% over the past year.

Sold Results: Average Sold Price Per Sq. Ft.!

Sold results indicate an increasing average sold price per sq. ft. since 10/4/2008. In Broadmoor, the increase has been $4/sf or +5.3%. In Sherwood Forest, the increase has been $2/sf or +2.7%.

HOWEVER, The current market conditions, the Fannie Mae 1004MC or Market Conditions Form describes a different market condition THAT MUST BE ANALYZED AND RECONCILED BY THE APPRAISER.

COMPETING HOME SALES ARE DECLINING – From 18 to 3!

ABSORPTION RATE IS DECLINING – From 3 Sales Per Month Down To Just 1!

TOTAL COMPARABLE ACTIVE LISTINGS IS INCREASING – Inventory Is Growing!

MONTHS OF HOUSING SUPPLY IS INCREASING – FROM 5 TO 22!

NOTE: When the top right 4 boxes are checked for Declining, Declining, Increasing and Increasing, that’s not a good market indication!

Chart Showing Slowing Home Sales!

Conclusion.

When appraising local Greater Baton Rouge Homes, it’s important for both the appraiser and the homeowner to know that ALL market conditions are examined and reconciled to arrive at a value conclusion. In the above market examination, YES, the median sales prices and average sales prices per sq. ft. were increasing, but were also stil recovering. If one examines the very first chart in this post, you’ll find that this market still hasn’t fully recovered to the $180K median sales prices of 2007/2008 prior to Gustav.

And, it’s very important to lenders underwriting the loan if there’s only 1 competing home per month selling resulting in a 22 month supply of competing housing, declining absorption rate (declining number of homes within the large inventory being removed from that inventory), increasing number of months on the market and increasing number of listings being added each month.

I do hope locals can now better understand part of the appraisal process. Home appraisals in 2010, with the newer 1004MC form and more and more requirements being added each month it seems, take much longer to complete now with much more investigation and reporting requirements.

REO OR FORECLOSURE RATE!

And, for those that would like to know to know the REO or Foreclosure rate for this assignment, the chart is below showing only 2 “MLS” foreclosures for homes 2500sf to 3100sf since 10/4/2008. There could have been several more take place outside of these 2 listed in MLS as many national lenders today choose not to list their REO inventories in the MLS anymore….up to 70%. In my report, I stated, ” It’s also stated here that a recent 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. MLS is reporting 2 comparable REO listings.”

Data used with permission of the GBRAR MLS, search dates 1/1/2007 to 10/07/2010, extracted on 10/07/2010.

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New Baton Rouge Pre-Listing Home Appraisals Web Video 225-293-1500

FHA Appraisers Baton Rouge Louisiana — Wed, 02 Jun 2010 11:03:58 +0000

http://www.gbrprelistingappraisals.com/ – Greater Baton Rouge Pre-Listing Home Appraisals Video 225-293-1500.

This video describes what’s included in a “Pre-Listing” Home Listing Appraisal for the Greater Baton Rouge Housing Market performed by Bill Cobb with Accurate Valuations Group! Visit http://www.gbrprelistingappraisals.com/ and find out more about having a video made for YouTube to help sell your home faster. Plus, this appraiser can help your home get found on Google for interested buyers. So, we not offer Pre-Listing Appraisals, but a full marketing package and a listing on the Greater Baton Rouge Realty Video Visual Tours Website: http://www.gbrrealtyvisualtour.com/

Tags: Baton Rouge Real Estate, Baton Rouge Home, Baton Rouge Homes, Baton Rouge Listing Appraisal, Baton Rouge Listing Appraisals, Baton Rouge Pre-Listing Appraisal, Baton Rouge For Sale By Owner, FSBOBR.com, FSBO.com, For Sale By Owner Baton Rouge, For Sale By Owner Greater Baton Rouge

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Baton Rouge Real Estate Appraisers: Info on Granite Countertops

FHA Appraisers Baton Rouge Louisiana — Mon, 17 May 2010 12:29:06 +0000

http://www.batonrougerealestateappraisal.com/ – Baton Rouge Real Estate Appraisers: Info on Granite Countertops

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Appraisers In Baton Rouge Appraisal Services 225-341-2301

FHA Appraisers Baton Rouge Louisiana — Thu, 13 May 2010 10:25:22 +0000

http://www.appraisersinbatonrouge.com/ – Appraisers In Baton Rouge Appraisal Services 225-341-2301

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.

Accurate Valuations Group
Office: 225.293.1500
Fax: 1-866-663-6065

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Greater Baton Rouge Home Appraiser Offers Pre-Listing Appraisal Services

FHA Appraisers Baton Rouge Louisiana — Wed, 05 May 2010 05:56:15 +0000

http://www.batonrougerealestateappraisal.com/ – Greater Baton Rouge Home Appraiser Offers Pre-Listing Appraisal Services

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.

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 +

Accurate Valuations Group
Office: 225.293.1500
Fax: 1-866-663-6065

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Baton Rouge Real Estate Home Selling Tips: 4 Ways To Sell Your Home Faster

FHA Appraisers Baton Rouge Louisiana — Mon, 19 Apr 2010 20:05:36 +0000

http://www.appraisersinbatonrouge.com/ – Baton Rouge Real Estate Home Selling Tips: 4 Ways To Sell Your Home Faster. This article was written for homeowners and may be helpful for Real Estate Agents as well.

CBS Money Watch is reporting on 4 Ways To Sell Your Home Faster! Click the blue link to read the article! Here’s a snippet:

“Home sellers, buckle up: Spring selling season is here, and it’s going to be a bumpy ride.

For now, the April 30 deadline for closing on a house to claim the home buyer tax credit is boosting sales. But with mortgage rates edging up, deals are fragile and lenders are on edge. “Last-minute glitches are holding up things far longer than we have ever seen before,” says Michael Onorato, president of the Illinois Association of Realtors.

Just because you have a real estate agent, that doesn’t mean you can sit back and let the pro sell your house. To get top dollar, you’ll need to take control of the relationship and micro-manage like nobody’s business. Follow these four steps to sell your house fast.“

The 4 Ways To Sell Your Baton Rouge Home Faster:

1.) Keep Your Agent on a Tight Leash

2.) Prove Your Home’s Value

3.) Get a Fair Appraisal

4.) Get Your Home Staged

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