http://www.batonrougerealestatebuzz.com/ – Baton Rouge Housing Statistics June 2010 Update: River Oaks Subdivision 70819

Solds In River Oaks from 1/09 to 6/19/10 revealed:
Average Sales Price: $129,370
Average Sold Price Per Sq. Ft.: $87/sf
Median Sold Price: $132,500
Number of Sales: 10
Low To High: $78,000 to $158,000
Number of Sold REO/Foreclosures Noted In MLS: 1
Current # Listings: 5
Current Listings Prices: $118,000 To $225,000

Author’s Bio:

Bill’s company, Accurate Valuations Home Appraisal 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/

http://www.batonrougerealestateappraisal.com/ – Baton Rouge Real Estate Appraisers – Accurate Valuations Group 225-293-1500. East Baton Rouge, Greater Baton Rouge.

http://www.appraisersinbatonrouge.com/ - Baton Rouge Foreclosures and Delinquencies Up In October 2009

Baton Rouge Business Report and First Core Logic are reporting an increase in foreclosures and delinquencies in the Greater Baton Rouge market as of October 2009. The article is located here and here’s a snippet:

“The rate of foreclosures in metro Baton Rouge increased by half a percentage point in October, when compared with the year before. According to First American CoreLogic, which tracks real estate data, the rate of outstanding mortgage loans that were foreclosed upon in October was 1.71%, compared with 1.21% in October 2008. Despite the increase, that’s lower than the national average of 3.02%. The number of homeowners who were behind on their mortgage payments was also up. First Americans says 3.58% of Capital Region mortgages in October 2008 were 90 days or more delinquent, compared with 5.31% this year. That’s also better than the national average, where 7.7% of mortgages are three months or more past due. In October 2008, 4.54% of U.S. mortgages were delinquent.”

Bill Cobb, Appraiser, Commentary:

“This concurs with what I’ve been seeing in this local market since August 2008 where I’ve been seeing more “shadow inventory” than is being reported. Although the problem isn’t that bad as compared to some parts of the U.S., I’ve been wondering when the news would catch up with the reality of the local market.

Another issue that makes it much more difficult for appraisers to truly know the state of foreclosures in a market is here is the new foreclosure market and the way banks dispose of or don’t dispose of REOs. It’s 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. It’s also very difficult in our local GBRAR MLS to track short sales because both our local MLS doesn’t have a box that states the listing is a short sale and sometimes short sales aren’t reported as short sales on the MLS Sheets.”

http://www.appraisersinbatonrouge.com/ - USA Today: Baton Rouge real estate market holds its own

Christine Dugas with USA Today is reporting on the good fortune of the Baton Rouge Real Estate Market in 2009. Her article is here: “Baton Rouge real estate market holds its own” Here’s a snippet from the indepth report:

“•Sales status. In October, home sales were 2% higher than the same month last year. The first-time home buyer tax credit has been a catalyst. This year, first-time buyers accounted for 40% to 45% of sales, Daly says.

•Price points. The first-time buyers have focused on the market’s low end. With high-end homes selling more slowly, the median price in October was just 1.3% higher than a year ago.

•Local economy. Baton Rouge almost escaped the recession. “Historically, it always hits us a little later, and we get hit much lighter than the rest of the nation,” says Loren Scott, a Baton Rouge economist.

In October, the area’s unemployment rate was 6.8%, compared with the state rate of 7.4% and the national rate of 10.2%. In part, that’s because Baton Rouge’s chemical firms and petroleum refineries provide steady employment. And the area also benefited from legislation passed to rebuild after Hurricanes Katrina and Rita.

“There is an unusual amount of construction going on,” Scott says. “Much of it is building new plants that are hiring more people.”

•Hot ‘hoods. Until recently, Capital Heights, a historic neighborhood, was not very desirable and was dominated by rentals. But a non-profit association is helping revitalize Mid City, a region that includes Capital Heights.”

http://www.batonrougerealestateappraisal.com/ – Need A Residential Probate Appraiser In Greater Baton Rouge?

Bill Cobb, CREA, with Baton Rouge’s Accurate Valuations Home Appraisal Group, is a real estate appraiser based in the Baton Rouge Market with 18 years experience. He covers multiple Parishes (or Counties) in the Greater Baton Rouge Region and works for brokers, banks, governmental agencies, Real Estate Agents, attorneys, home owners and more.

Accurate Valuations Probate Residential Appraisers Group

P.O. Box 40515
Baton Rouge, LA 70835
TEL: 225-293-1500
MOBILE: 225-953-0638
TOLL FREE: 1-888-678-3544
FAX: 1-866-663-6065
STAFF EMAIL: fastvalue2@cox.net
WEBSITE: http://www.accuratevg.com

Coverage Area:

Ascension Parish/County – Only Northern Ascension: Geismar/Dutchtown 70734, Gonzales 70737, Prairieville 70769, Saint Amant 70774 and Sorrento 70778

East Baton Rouge Parish/County – ALL

Livingston Parish/County – Only Western Livingston: Denham Springs 70706 & 70726, Livingston 70754, Walker 70785

West Baton Rouge/County – ALL

Tags: Probate Appraisers In Greater Baton Rouge