Bossier City, LA

Below is an excerpt from the Neighborhood Market Report I am working on for the Villages of Tiburon. If you would like a full copy of the report, please send me an email or call (318) 734-9001!

Market Trends Since 2006

The Villages at Tiburon has proven to be quite a success to its developers, and doesn’t look like it will be losing steam any time soon. Since the first home sold in 2006, property values in the Villages at Tiburon have appreciated as high as 7.5% in one year! Since 2006, NEW CONSTRUCTION values have increased 13.77%, an average of 2.3% per year.

The first “EXISTING HOME” to sell in the Villages at Tiburon was in 2007; since then existing home values have increase 11.79% (an average of 2.9% per year). Figure 1 shows the appreciation of property values per year since 2006.

It is important to note that from 2010 to 2011 the values of both new construction and existing homes stabilized, with new construction appreciating only .7% and existing homes appreciating at 1% from the previous year.

Figure 1: Average Price Per Square Foot by Year

2011 Home Sales

Market Outlook

With the stabilization of the market from 2010 to 2011, it is safe to assume that the Villages at Tiburon will maintain its values through 2012. However, with the large quantity of building that is going on in the new phase, a slight depreciation of existing homes could be possible as we saw in 2009. The reason for this is because home buyers are drawn to new construction homes. It is a phenomenon that is difficult for many to understand, but more often than not home buyers will be drawn to the appeal of a being the first owner of a property and the possibility of choosing finishes such as the flooring and counter tops. This appeal is often so strong, that these buyers will overlook an existing property with larger lots, fenced yards, sprinkler systems, and so on.

Now all that being said, we have seen the builders on both sides of Tiburon pushing the market this year (much higher prices than last year), which may help existing homes to sell more easily. The key to successfully selling existing homes in any developing community is for the homeowners to be realistic on their values. It is important to remember that an existing home is almost never equal in value to a new construction home. In 2011, new construction homes in the Villages of Tiburon sold for 2.5% more (price per square foot) on average than the existing homes.

Demonstrated by the consistent appreciation of property values each year for the last 6 years it is safe to assume the Villages at Tiburon real estate market will hold strong, even with the builder’s push. Like I mentioned above this is a benefit to the existing homeowners who would like to sell in 2012. A good strategy to compete with the builders is not to push the market as they are. If you follow their lead with an unsupported increase in value, the buyers will turn to new construction. However, if you price your home accordingly to the past sales and appreciation tables, you may be able to show potential buyers the true value in purchasing an existing home over a new build. As long as our community is being developed, an issue that will remain constant is the desirability of new homes over existing ones.

If you are interested in finding out a current value for your property please give me a call at (318) 734-9001 to request a Comprehensive Market Analysis of your property, or visit www.JennyTheRealtor.com.

Jenny Hogue-McCarty

Realty Executives SB

2250 Hospital Drive, Suite 248

Bossier City, LA 71111

Licensed in Louisiana!

Independently owned and operated.

I must complain the cards are ill shuffled till I have a good hand.
~Jonathan Swift

I know little about the game of poker. My husband is a self-employed cattleman and farmer and I am a commissioned sales professional. I have always felt those two things alone were "gamble" enough for my life.

But several of my friends and colleagues love to challenge each other to a "friendly" game of poker after a long day of meetings when we gather together in one place from the far corners of the USA for various corporate events. Because of their competitive nature, I do think of them when I see this quote:

Cards are war, in disguise of a sport.

~Charles Lamb

I was more than a little excited when this group informed me this past Thursday as we gathered in Dallas for a manager's meeting, that the proceeds from their scheduled game that night would go to the charity which is at the heart of much of what I do, the Boot Campaign, a non-profit organization which helps to support several wounded warrior projects.

And I was even MORE excited when the next morning this group handed me $1,020.00 as their contribution to the Boot Campaign! These mortgage professionals within my company all have a heart as big as the state of Texas we were in and I'm blessed to call them not only co-workers and colleagues, but FRIENDS.

Thank you, HEROES of the mortgage business, for not only going the extra mile in your own community to serve your clients, but for going the extra mile to give to one of the finest non-profit organizations in America, the Boot Campaign, which in turn will give to the men and women of the United States Military for various wounded warrior projects.

All I can say is - Now THAT's a winning hand!

Market Trends Since 2006

Tiburon has proved to be quite the success to its developers, and doesn’t look like it will be losing steam any time soon. Since the first home sold in 2006, property values in Tiburon have appreciated from .25% to as much as 4.6% each year. Since 2006, NEW CONSTRUCTION values have increased 12.65%, an average of 2.08% per year.

The first “EXISTING HOME” to sell in Tiburon was in 2009; since then existing home values have increase .75%. If that number seems that’s because it is. Unfortunately, in 2011 Tiburon saw its first foreclosed property sell at only $111.54 per square foot. When that property was removed from the data, we saw a more ideal appreciation of EXISTING HOMES at 4.78% over the last 3 years (an average of 1.59% per year). Figure 1 shows the appreciation of property values per year since 2006.

Figure 1: Average Price Per Square Foot by Year

2011 Home Sales

The table below shows the property sales in Tiburon during 2011. Only three EXISTING HOMES sold in 2011 and unfortunately one was a Short Sale (sold less than actual value). However, even with the Short Sale the other two homes held their value at an average of $126.14 between the two.

Market Outlook

Demonstrated by the consistent appreciation of property values each year for the last 6 years it is safe to assume the Tiburon real estate market will hold strong. An issue that will remain constant until the new construction homes are completed is the desirability of new homes over existing ones. It is a phenomenon that is difficult for many to understand, but more often than not home buyers will be drawn to the appeal of a being the first owner of a property and the possibility of choosing finishes such as the flooring and counter tops. This appeal is often so strong, that these buyers will overlook an existing property with larger lots, fenced yards, sprinkler systems, and so on.

Not only are the new construction homes being built in Tiburon a menace to the existing home values in Tiburon, but so are the homes being built in the Villages at Tiburon. These homes are not as custom as those on the Tiburon side, but they feature many of the desired updates that existing homes may or may not offer (depending on year built) including Granite throughout, hand scraped wood floors, fireplaces, open floor plans, bonus rooms, extended patios and often times fences and sprinkler systems. There are many great lots available and being built on in the Villages as well.

Now all that being said, we have seen the builders on both sides of Tiburon pushing the market this year (much higher prices than last year), which may help existing homes to sell more easily. The key to successfully selling existing homes in any developing community is for the homeowners to be realistic on their values. It is important to remember that an existing home is almost never equal in value to a new construction home. In 2011, new construction homes in Tiburon sold for 11.29% more (price per square foot) on average than the existing homes.

If you are interested in finding out a current value for your property please give me a call at (318) 734-9001 to request a Comprehensive Market Analysis of your property, or visit www.JennyTheRealtor.com.

The data for new home sales in November marks the fourth straight month of rising sales volume, making it a 7-month high. This is a great show of strength for the housing market.

According to the Census Bureau, the number of new homes sold rose 2 percent in November. On a seasonally-adjusted, annualized basis, home buyers bought 315,000 newly-built homes last month.

Existing home sales also climbed in November. But the big story in the report is the remaining new home supply nationwide. There are 158,000 homes "on the market" and with home sales picking up, it is possible that the the complete, national inventory of "new homes" could be sold in just 6.0 months. This is the quickest home sales pace in nearly 6 years for the new construction market.

This is even more than in April of 2010, when buyers could rely on the Federal home buyer tax credit. Home builders expect the trend to continue, people are looking, and builders have a positive outlook for the next 6 months.

The downside? As home supplies drop and builders gain confidence, the chances for a buyer to negotiate for a price reduction or for upgrade decrease. Therefore, if you're a home buyer in search of a new construction home in Bossier City, Louisiana, you might consider that the best new construction "deals" for the next year may be the ones you find today!

I’m trying to Go Green and will begin posting our quarterly updates on here. I will send reminders to look for them on the internet, but will eventually only notify you of the postings via the Tiburon Community Facebook page. Part of this change comes from the request to separate the Tiburon Sales from the Villages Sales for the purpose of averaging the sales. I will have more room to explain the averages on here!

Below are the properties that have sold in both Tiburon and The Villages

During the 3^rd Quarter of 2011, Tiburon has had 17 properties sell between both sides. The Villages at Tiburon has been hopping with 14 of the sales, while Tiburon has had 3.

New Construction is still dominating the sales on both sides of the neighborhood. Two of the 3 homes sold in Tiburon were new construction homes, and the Villages only had 3 existing homes sell out of the 14 (the other 11 were new construction).

Tiburon:

Existing Tiburon homes sales year-to-date have been averaging $126.96 (I did remove a short sale from the data set), falling between $121.31 to $132.86 per square foot. Tiburon Homes are a spending on average 46 days of the market (List to close).

New construction homes are averaging about $135.61 per square foot with a range between $123.48 to $148.70

Villages at Tiburon:

Existing homes in The Villages at Tiburon have been averaging $126.28 per square foot. Homes have ranged from $115.00 to $140.13 per square foot! On average existing homes in Tiburon spend about 50 days on the market.

On The Villages side, new construction is hopping, and our builder’s cannot keep up. New construction homes are averaging $131.63 per square foot, but have sold as high as $137.39 a square foot.

Overall Tiburon as a whole is one of the most (if not the most) desirable communities in North Bossier. With the school reports cards coming out, and W.T. Lewis topping the ranks with a coveted A+ rating, I don’t see the Tiburon market slowing down anytime soon.

The new phase of The Villages is finally open which is the biggest hurdle for our existing home sales. Tiburon is not at any less risk than the Villages, especially since we are seeing homes comparable in size to the Tiburon side being built. There are also quite a few great lots available in the new phase. Also, new construction is a mindset we cannot overcome easily. Many buyers will purchase a smaller home, smaller lot, and even fewer upgrades to have that “new home.” Because of this, it is pertinent to price your home right and have a marketing plan specific to your property to draw those buyers to your home.

If you are thinking about selling your property, feel free to give me a call for a free, no obligation Comparative Market Analysis (CMA) and marketing consultation. If your home is currently for sale, you can (and should) request regular marketing updates from your agent to assess your marketing plan so you can adjust if needed.

If you have any questions or concerns about the data or market, you are welcome to call, text or email me!