Denham Springs Home Appraisers News: August 2010 Westminister Estates Housing Numbers

http://www.denhamspringsappraisers.com/ – Denham Springs Home Appraisers News: August 2010 Westminister Estates Housing Numbers

Westminster Entrance SignDenham Springs Home Appraisers News: August 2010 Westminister Estates Housing Numbers Westminister Estates Numbers! In 2010, there have been 8 total sales with an Average Sold Price of $149,438, Median Sales Price of $141,900, Average Sold Price per sq. ft. $91.90/sf and Average Days On Market 107 days. Data Used With Permission of GBRAR MLS. Data was extracted on 8/16/2010 from periods 1/1/2010 through 8/16/2010.

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Appraisers In Baton Rouge Appraisal Services 225-341-2301

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

gbrprelistingappraisalsA 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 +

ACCURATE VALUATIONS LOGO BorderIn 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

Bill Cobb Home Appraiser Baton Rouge La

Baker Louisiana Real Estate Housing Statistics For 2010

http://www.batonrougehomeappraisal.com/ – Greater Baton Rouge Housing Statistics! Baker Louisiana Real Estate Housing Statistics For 2010

sales trend for baker louisiana real estate 2010

The above charting is an analysis of GBRAR MLS Solds since 4/17/2008+ within MLS Area 11, Zip Code 70714, extracted on 4/26/2010. DSF Home search parameters were:

$75,000 to $150,000

1300sf to 1600sf, 3-4 Bedrooms

Ages 16-20 Yrs to 76+ Yrs

REO/Foreclosures are included.

The overall median sales price since 4/2009 has remained stable showing a +0.89% increase.

Video Of Baton Rouge Homes Value: How Much Value Do Pools and Metal Buildings Add?

http://www.batonrougerealestatebuzz.com/ – Video Of Baton Rouge Homes Value: How Much Value Do Pools and Metal Buildings Add?

baton rouge real estate tony zito and bill cobb talk pools and metal buildings

In this video, Realtor and Broker, Tony Zito, and Home Appraiser, Bill Cobb, discuss how appraisers value pools and metal buildings. Generally, the return might be 1/4 to 1/3 of investment, but not always. Sometimes pools have no value at all, especially the older the age of the pool. Some people likes pools and others don’t and end up filling them in with dirt. However, if you’re buying a home to live there forever, enjoy that home and add what you can afford to install…..just don’t expect to get a dollar-for-dollar return on your investment of items in your yard.

I wrote more about this topic here, “Greater Baton Rouge Homeowner Should Not Have Added $60,000 Pool In A $150,000 Subdivision

and

Greater Baton Rouge Real Estate Question: Is It Wise To Invest $60,000 For A Pool and Landscaping For A $250,000 Home

NOTE: Just don’t let that pool salesman convince you that adding that pool will significantly increase the value of your home.

 


Baton Rouge Real Estate Photos From The Field: Central Thruway Progress Photos

http://www.batonrougerealestateappraisal.com/ – Baton Rouge Real Estate Photos From The Field: Central Thruway Progress Photos As Of April 10, 2010

Central Thruway Baton Rouge Real Estate Progress

The last major news article I could locate on the Central Thruway project was on May 20, 2009 from The Advocate here! A snippet of the article stated:

The work order was issued on Monday marking the start of a $9.6 million project to construct two large bridges for the Central Thruway, a city-parish official said.

The contract calls for contractor James Construction Group to build bridges over the railroad bridge and over Sullivan Bayou along the thruway route, city-parish Chief Construction Engineer Jose Alvarez said.

James Construction will have 600 days to complete the two bridges, Alvarez said.

City-parish officials are slated to hold a groundbreaking today for the project.

Another company, L&A Contracting, started work last year on the $23.8 million project to build bridges over Comite River and Beaver Bayou in that same area between Frenchtown Road and Florida Boulevard.”

Central Thruway Baton Rouge Real Estate Progress (1)