Prairieville, LA Real Estate News

By Bill Cobb Appraiser, Greater Baton Rouge's Home Appraiser
(Accurate Valuations Group, LLC)
http://www.ascensionrealestateappraisers.com/ - Ascension Parish Home Appraisers: Quail Creek Subdivision Numbers Improve in 2010!  While the number of home sales is down 54%, the average sales price, median sales price and average sold price per sq. ft. are all up in 2010 based on 6 sales.   I'm currently working on a refinance appraisal on Lakeland Avenue in Quail Creek Subdivision and found the numbers below rather interesting.  Solds In Quail Creek from 1/2010 to 12/1/2010 revealed:Average Sales Price: $284,383 ($241,281 in 2009)Average Sold Price Per Sq. Ft.: $117.14/sf  ($113.42/sf in 2009)Median Sold Price: $285,200  ($250,000 in 2009 based on 13 sales)Number of Sales: 6  (13 in 2009)Average Number of Days On Market:131 Low To High: $217,900 to $350,000 (Sizes Vary from 1,790sf t...
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By Bill Cobb Appraiser, Greater Baton Rouge's Home Appraiser
(Accurate Valuations Group, LLC)
http://www.batonrougemarketmetrics.com/ - Northern Ascension Parish Housing Market Metrics: Jefferson Crossing 3 Year Study     From 2009 to 2010 based on 11 home sale, the Jefferson Crossing Trends chart below shows a slight decline in Average Sold Price per square foot of just under $1/sf.   The Average Listing Price to Sold price Ratio has decline 1.75%, meaning listing are receiving about 97% of listing prices instead of close to 99% in 2009.   Both the Average and Median Sales Prices per square foot appear to have risen because the larger homes have predominantly been selling 2010.  In 2010, the average home size selling has been 2,983sf versus 2,744sf in 2009.  The average days on the market at 294 is quite high for the Greater Baton Rouge housing market and an increase of 927% f...
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By Kristina Cusick, Prairieville Real Estate Broker
(Town & Parish Realty)
Monthly Sales were 72 units. Comparison to last month:  Decreased 4% from 75 units.  Comparison to this month last year: Decreased 40% from 121 Units. Average Sold Price was $204,896.  Comparison to last month:  Decreased 5% from $216,581.  Comparison to this month last year: Decreased 7% from $191,622. Current Inventory is 9.91 months.  Comparison to last month:  Increased from 9.53 months.  Comparison to this month last year: Increased from 5.12 months. Average Days on Market were 97.  Comparison to last month:  Increased from 88 days.  Comparison to this month last year: Increased from 83 days. So what do all these numbers mean?    The decrease in volume we saw this past month is not extraordinarily alarming to me. Again, we are coming out of a medicated market. September is histori...
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By Ann Dail, Broker/Realtor,CRS, ePRO, SRS, B.A.Chem
(Baton Rouge Area Homes, Louisiana, USA, 225-761-0551)
It's not too late to visit the Art in Autumn Gardens, Arts & Cultural Festival to be held in the gardens at Houmas House Plantation.  Open Sunday Oct.10 from 10am until 4pm.  Singers, musicians, artists, and dancers will gather in the historic garden.  In addition there will be over 300 works of art of both Youth and Adults in competition.  Awary winning Chef Jeremy Langlois will offer a delicious Arts Fest Buffet in the dining room where you can take in smooth Jazz.
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By Bill Cobb Appraiser, Greater Baton Rouge's Home Appraiser
(Accurate Valuations Group, LLC)
http://www.ascensionrealestateappraisers.com/ - North Ascension Parish Real Estate Minute Video: Henderson Bayou Estates 2010 Update     Greater Baton Rouge Home Appraiser, Bill Cobb, updates the housing market numbers for Henderson Bayou Estates Subdivision in the Prairieville Galvez Real Estate Market, Louisiana 70769.  Based on only 3 2010 Home Sales, 2009 vs 2010, the average sales prices has declined from $154,900 in 2009 to $143,200 in 2010.  The median sales price has declined from $154,000 in 2009 to $140,000 in 2010.  The average sold price per square foot is down $1/sf from $101.46/sf in 2009 to $100.36/sf in 2010.  Year to date, there have been 3 sales versus 7 in 2009. The average days on the market has declined from 142 days in 2009 to only 78 days in 2010, under a 90 day m...
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By Kristina Cusick, Prairieville Real Estate Broker
(Town & Parish Realty)
  Monthly Sales were 95 units. Comparison to last month:  Increased 26% from 70 units.  Comparison to this month last year: Increase 8% from 87 Units. Average Sold Price was $197,038.  Comparison to last month:  Decreased 5% from $207,896.  Comparison to this month last year: Decreased 9% from $217,229. Current Inventory is 6.34 months.  Comparison to last month:  Decreased from 8.91 months.  Comparison to this month last year: Decreased from 7.95 months. Average Days on Market were 90.  Comparison to last month:  Held steady at 91 days.  Comparison to this month last year: Decreased at 109 days. So what do all these numbers mean?  The tax credit is fueling the first time homebuyers to make their leap into homeownership.  This is indicative of the average sales price.  The smaller homes...
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By Ann Dail, Broker/Realtor,CRS, ePRO, SRS, B.A.Chem
(Baton Rouge Area Homes, Louisiana, USA, 225-761-0551)
  Bayou Manchac is an eighteen-mile waterway that forms the boundary between the parishes of East Baton Rouge and Ascension.  Bayou Manchac was a vital link from the Mississippi River to the Amite River and on to the Gulf of Mexico. French explorer Pierre LeMoyne (sieur d'Iberville) saw the tall cypress pole smeared with animal blood that he described on a map as "le baton rouge".  He turned off the Mississippi River and onto what would later be called Bayou Manchac in 1699.  He wrote about it that night while camping at what is now named Alligator Bayou.  In 2009 Bayou Manchac officially became the state of Louisiana's second historic waterway.  This waterway has been used by everyone from Native Americans and French explorers to nineteenth century steamboat captains and twentieth cen...
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By Sandy Ogburn Sandlin, Fine Baton RougeArea Homes
(RE/MAX Excellent Properties)
Prairieville buyers have plenty of reasons to buy a great house in Ascension Parish or anywhere in the Greater Baton Rouge areas. After all, homes are plentiful and well priced, the interest rates are low, and of course, the home buyer's tax credit is in effect through April 30.  Yesterday, the FHA made an announcement that impacts anyone who buys after the tax credit has expired. The best advice to potential home buyers is to buy now, if you can can to beat the FHA clock. FHA has always been a good financing option if you less downpayment in hand and if your credit score was a bit lower than what some banks liked.  Over the last few years, FHA has written almost 30% of the loans (up from 3% back in 2006) and has suffered from rising delinquencies.  The agency now must build its reserv...
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By Kristina Cusick, Prairieville Real Estate Broker
(Town & Parish Realty)
  Monthly Sales were 91 units. Comparison to last month:  Increased 3%  from 88 units.  Comparison to this month last year: Increase 11% from 81 Units. Average Sold Price was $186,413.  Comparison to last month:  decreased  2% from $191,023.  Comparison to this month last year: Decreased 10% from $207,090. Current Inventory is 6.48 months.  Comparison to last month:  Holding steady from 7.05 months.  Comparison to this month last year: Decreased from 8.92 months. Average Days on Market was 67.  Comparison to last month:  decreased from 78 days.  Comparison to this month last year: Decreased from 87 days. So what do all these numbers mean?  The Average Sold Price being down is again indicative of the type of buyers we are seeing.  First time homebuyers are still fueling the market. The i...
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By Sandy Ogburn Sandlin, Fine Baton RougeArea Homes
(RE/MAX Excellent Properties)
When you become a homeowner who just made one of the most expensive purchases in your life, you are starting out on an exciting new adventure.  You just bought a great home in Baton Rouge, Prairieville, or a nearby city and you are now  surprised to realize that you are pretty much on your own in learning to be a homeowner.  If a major system goes wrong, you may have recourse, especially if you have a homeowner's warranty, but that's only one of the challenges.  Here are some tips to keep in mind to help you make the transition. When you rented, whether there was a leak in the room or window didn't open, you called the landlord. (You may have even mumbled aloud that the problem wouldn't have happened if he had only done some preventative maintenance.)  Now, you need to fix what's broke...
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By Kristina Cusick, Prairieville Real Estate Broker
(Town & Parish Realty)
2009…it’s almost over.  As I sat down to write this, the first words to hit the keyboard were this. “Thank God this year is over. I am so ready for a New Year!” As I sifted through the past months in my mind, I pulled up the thoughts of seeing friends, family and strangers struggle with hardships, grief, pain and so much more.  Again the thought of “Thank God this year is over. I am so ready for a New Year!” crossed my mind. As I thought about each of these challenges a little more, I found myself doing some deep searching.  All of these things that my family faced were actually blessings in disguise.  Everything happens for a reason, we all have been told this, we all know this.  I am here to tell you that this is very true.  I think that each of the things we faced this past year were...
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By Sandy Ogburn Sandlin, Fine Baton RougeArea Homes
(RE/MAX Excellent Properties)
Prairieville home buyers, if you are planning on buy a home with FHA financing, listen up! For over 50 years, FHA has helped those with less than perfect credit buy homes by guaranteeing the loans, but recent announcements by HUD Secretary Shaun Donovan indicate that major changes are on the way for both consumers and lenders.  Since the Great Depression, FHA has backed loans actually written through member banks.  Over the years, it has provided an alternative financing process that some sellers looked down on because it took longer. In recent boom times, FHA was only called on to guarantee about 3% of all mortgages. Buyers got their loans with as little as 3.5% down and with 500 credit scores though most participating lenders required a score of 620 or more.  Sellers could contribute ...
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By Kristina Cusick, Prairieville Real Estate Broker
(Town & Parish Realty)
  I have recently had a few potential sellers ask me if they should list their home during the holidays.  My first response is "Why shouldn't you?"  Here are five reasons that I believe the holidays are a great time to list your home.   Families like to take advantage of their children's semester break to make a move. The buyers that are out looking are serious about making a move.  These are different buyers than the "looky loos" we get in the springtime. The tax credit has been extended for first time home-buyers and expanded to include "long time residents".  This means more motivation to actually make a decision. Lots of people new to the area will be driving around while they are visiting loved ones.  Your home may be perfect for your neighbor's Cousin Sally! Honestly, when is you...
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By Sandy Ogburn Sandlin, Fine Baton RougeArea Homes
(RE/MAX Excellent Properties)
Even in Greater Baton Rouge where home prices have not fallen as much as elsewhere, some who would like to move have put their plans on hold until things are a little better for sellers.   In a buyer' s market, a real estate agent often has to deliver the bad news that the seller has to lower their asking (and selling ) prices a bit to be in line with the market.  The new Home Buyer's Tax Credit promises to shake things up for sellers as well as buyers. The Home Buyer's Tax Credit offers you a chance to reassess your position. Now, repeat buyers who have lived in their home for at least five of the last eight years qualify for a $6,500 tax credit.  If you have been thinking of making a change the credit allows you to do that.  Why? First of all, if you have a home priced under $250,000 ...
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By Kristina Cusick, Prairieville Real Estate Broker
(Town & Parish Realty)
Today, I woke with a sense of gratitude. Gratitude for all of the Veteran's that have sacrificed so much for me.  Without these men and women, I would not be able to sit here and enjoy the laughter of my children while they are getting ready for school, kiss my husband goodbye as he leaves for a job that he loves, or help a young couple find their first home.  Think of all the small everyday tasks that we enjoy. We get to experience these moments because a Veteran fought for our freedom. I ask you this... Next time you see a Veteran, shake their hand, say thank you, buy them a cup of coffee.  A small gesture of kindness is just a drop in the bucket for what they have done for us.  With that being said, I think I will make my way to the local donut shop to buy a round of coffee and donut...
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By Kristina Cusick, Prairieville Real Estate Broker
(Town & Parish Realty)
Today, November 10, 2009, the Marine Corp turns 234.  Happy Birthday Marines! Thank you to all who have served for your tireless dedication in keeping our country safe. Some people spend an entire lifetime wondering if they made a difference in the world.  But, the Marines don't have that problem.  [Ronald Reagan, U.S. President; 1985]
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By Kristina Cusick, Prairieville Real Estate Broker
(Town & Parish Realty)
The first time home buyer's tax credit that was scheduled to expire on 12/01/2009 has been extended until May 1, 2010.  The income limits for this have also been increased! Here are the specifics: Purchasers must be first time home buyers.  This means that you must not have owned a home in the past three years. The credit is for 10% of the purchase price up to $8,000 Adjusted Gross Income limits are now $125,000 for single filers and $225,000 for joint filers Purchasers must have a contract signed by April 30, 2010 and will have until June 30, 2010 to close The credit is only available for the purchase of principal residences priced up to $800,000 or less There is also a new tax credit for "long time resident" homeowners! Here are those specifics: Purchasers must have lived in their pri...
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By Sandy Ogburn Sandlin, Fine Baton RougeArea Homes
(RE/MAX Excellent Properties)
If you have slowed down your efforts find your new Ascension Parish home because you figured that you could not complete your sale in time to qualify for the $8000 first time homebuyer tax credit, put on your shopping shoes!  Not only is the credit extended till next April, it's now offers some new provisions that will help you as a first time buyer and also help existing homeowners who want to move by offering a $6,500 tax credit. The redesigned credit allows you to make more money and still qualify ($125,000 for single, $225,000 for married, phase out of credit for incomes up to $20,000 higher.)  For repeat buyers, the only consideration is that they must have used their current home as a primary residence for 5 of the last 8 years. By extending the credit to more potential buyers, th...
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By Sandy Ogburn Sandlin, Fine Baton RougeArea Homes
(RE/MAX Excellent Properties)
Ascension Parish is booming these days, with its 6.7% unemployment over 2% lower than the national average, as new businesses going up all over town.  If you happen to be one of the unlucky people who lose their job, you have to figure how to stay afloat until you return to work.  If you have a mortgage, you want to save your home while taking care of your other bills too.  These days, many households already have two wage earners, so if one loses a job, there is no one else who can jump into the job market to help out. Ideally, you should have three to six months in savings to carry you over in case of emergency, but many people live paycheck to paycheck without this safety net.  Finding a new job is often taking longer so having savings will not spare you from what every homeowner nee...
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By Sandy Ogburn Sandlin, Fine Baton RougeArea Homes
(RE/MAX Excellent Properties)
Once you've decided to buy a beautiful Prairieville home, the big question is  "How much house can I afford?" You may already have a figure from the bank If you have gone to get pre-approval.  This may be more or less than what you had in mind. It's only a starting point in your thought process.  The perception is that bank puts the upper limit on what you can spend, but the lender may not take into account everything you need to consider. How Much Can You Afford? Some lenders use different percentages to figure out how should go for housing, but the most common guide to how much you can afford these days is based on the 28/36 rule.  The means your housing should be 28% or less of your gross income before taxes, while your debt (not including your mortgage) should be 36% or less of you...
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