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

https://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.

Villa Del Rey Subdivision Baton Rouge

 

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!

mls

 

Villa Del Rey Homes

 

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
[email protected]
http://www.accuratevg.com/

Baton Rouge In Top Ten Housing Markets For Third Quarter 2009

http://www.batonrougerealestateappraisal.com/ – Greater Baton Rouge In Top Ten Housing Markets For Third Quarter 2009

baton rouge fha appraisers

Local Market Monitor Announces Release of Third Quarter Home Price For Largest US Markets, article here! Here’s a snippet:

According to the forecast, among the largest US markets—identified as those with populations greater than 600,000—the 10 markets with the best expected performance in home price are:

Baton Rouge, LA
Buffalo-Niagara Falls, NY
Columbia, SC
Dallas-Plano-Irving, TX
Fort Worth-Arlington, TX
Houston-Sugar Land-Baytown, TX
Little Rock-North Little Rock-Conway, AR
Omaha-Council Bluffs, NE-IA
Pittsburgh, PA
San Antonio, TX
Syracuse, NY

These top markets, where home values are expected to remain level, are among those markets that did not have a big housing boom and have had relatively small job losses over the past year. Home prices in these areas are generally below the US average and reflect where the recession has so far had a relatively mild impact. Dallas, San Antonio and Omaha have all experienced a 1.6 percent job loss over the past year, and jobs have actually increased in Baton Rouge.”

Real Estate Appraisers: Age and makeup of your neighborhood can determine home value loss!

http://www.realestateappraisertips.info/ – Real Estate Appraisers: Age and makeup of your neighborhood can determine home value loss!

staff photo by kathy moore

This home at 10305 Welbeck Court. In Westchase, some home values have dropped a little – and some a lot.

Shannon Behnken, with the Tampa Tribune, discusses how “Age and makeup of your neighborhood can determine home value loss”. The article is located here. Here’s a snippet:

Data show that home values can vary widely, depending on the neighborhood, the age of the home and the economic stability of neighbors.

No Tampa Bay area neighborhood is immune to this housing downturn, but some neighborhoods are suffering more, housing professionals say.

“In general, areas that had minimal decreases have been around for some time and were not as susceptible to investors,” said David Teacher, a property appraiser with Superior Residential Appraisal Services Inc.

Even in those neighborhoods, however, there are exceptions.”

REAL ESTATE APPRAISERS…..WHAT’S YOUR EXPERIENCE WITH THIS ISSUE?

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Greater Baton Rouge Among Four Louisiana Housing Markets Named Nation's Best For Real Estate In September 2009

http://www.batonrougerealestateappraisal.com – Greater Baton Rouge Among Four Louisiana Housing Markets Named Nation’s Best For Real Estate In September 2009

Baton Rouge FHA Home Appraisers

 

On Wednesday, September 9, 2009, the Baton Rouge Business Report and Local Market Monitor reported that four (4) Louisiana housing markets were ranked among the nation’s best real estate markets. Here’s a snippet:

A new report says Baton Rouge, Lafayette, Lake Charles and Monroe are four of the U.S. real estate markets expected to perform the best in the upcoming year. Local Market Monitor, which produces the Home Price Forecast for more than 300 cities, says home values should remain level in those cities over the next 12 months. Officials with Local Market say home prices in those cities are lower than the national average, and the effects of the recession have been slight. Baton Rouge, in particular, has continued to add jobs. The markets expected to do the worst include places where there were spikes in home prices and where speculative buying got out of hand, such as Las Vegas, Miami and Modesto, Calif.”

Source: Baton Rouge Business Report PM

Baton Rouge Home Real Estate appraisers