About Ascension Parish, LA

http://www.ascensionrealestateappraisers.com/ - Dutchtown Geismar La Housing Market Slowsdown and Corrects Big Time in 2011....at least in Dutchtown Villas Subdivision!

I received an email this week from a seller which alerted me to a major slowdown in the Dutchtown Geismar Louisiana housing market, or at least in Dutchtown Villags Subdivision. They've had their home listed for almost one (1) year without a sale. The trends chart is below and may be too small to read the stats so I enlarged them immediately below.

Now, there are approximately 75 homes in this development, Garden style homes in the 1500sf to 1650sf range. What one recognizes right off is the drop off in sales, from 10 in 2008 to only 3 in 2009, none in 2010 and 3 in 2011. To me, this would appear to be a good indication which shows stability within the development - not much turn-over of satisfied residents. However, since 2008, the Average Sold Price has declined from $192,900 to $170,700 in 2011, which is -$22,200 or -11.5%. The Median Sold Price has declined from $192,750 to $176,000 in 2011, which is -$16,750 or -8.7%. And, in 2009, the Average Sold Price per Sq. Ft. was $122/sf versus only $113.48/sf in 2011, which is -$8.42/sf or -7%.

The Greater Baton Rouge Housing Market Correction and Slowdown I've been reporting on in 2011 is real and I don't expect these numbers to improve anytime soon.

NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of January 1, 2008 to October 11, 2011. This information was extracted on 10/10/2011. YES, this appraiser does have the permission of GBRMLS to use the chart above Subdivision Price Trends Report!

Author: Bill Cobb, Appraiser Accurate Valuations Home Appraisal Group.

Tags: Ascension FHA Appraisers, Ascension Home Appraisers, Ascension Parish Appraisers, Ascension Parish Home Appraisers, Ascension Parish Real Estate, Ascension Parish Real Estate Appraisers, Ascension Parish Realtors, Dutchtown Villas, Housing Correction

http://www.ascensionrealestateappraisers.com/ - Ascension Parish Home Appraisals: The Lake At Twin Oaks Home Price Trends May 2011 Report.

According to the charting below, the Average Sales Prices have remained fairly STABLE each year since 2008. The Average Sales Prices have ranged from $390,000 in 2008 based on 2 sales to $390,000 in 2010 based on 4 sales with no MLS reported sales in 2009 or 2011 year-to-date. In 2008 and 2010, the Average Sold Price per sq. ft. were $129.94/sf and $127.89/sf.

Current Listings. Three (3) current listings, 2 active and 1 pending from $374,800, $575,000 and $475,000, priced very high from $145/sf, $151/sf and $154/sf. The term "very high" is used here because the local housing market is in its 8th month of home price correction per CoreLogic and the chart above shows support for $128/sf in 2010 based on "4" solds. This pricing in 2011 is $17/sf to $26/sf above 2010 support. Wow! There may be market support in 2011 for such pricing, not exactly sure! I'd strongly recommend a Pre-Purchase Home Appraisal before overpaying for Greater Baton Rouge housing as we continue to correct locally.

NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of January 1, 2006 to May 31, 2011. This information was extracted on 5/31/2011. YES, permission was granted by GBRMLS to use Subdivision Price Trends Chart Report!

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
info@accuratevg.com
http://www.accuratevg.com/

http://www.ascensionrealestateappraisers.com/ - Geismar LA Home Appraisals Housing Trends: Legacy Hills May 2011 Update. According to the charting below, the Average Sales Prices have declined each year since 2007. The Average Sales Prices have declined from $419,800 to $375,400 to $364,800 to $358,600 to $320,000 in 2011. The $320,000 in 2011 is only based on one (1) home sale year to date. And, NO, the 2011 was not a distressed sale, but rather a much smaller home with 2,418sf selling for a strong $132/sf.

NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of January 1, 2007 to May 31, 2011. This information was extracted on 5/31/2011. YES, permission was granted by GBRMLS to use Subdivision Price Trends Chart Report!

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
info@accuratevg.com
http://www.accuratevg.com/

http://www.ascensionrealestateappraisers.com/ - Prairieville Home Appraisers Housing Trends: Manchac Place May 2011 Update

Solds In Manchac Place from 1/1/2011 to 5/31/2011 revealed:
Average Sales Price: $268,483
Average Sold Price Per Sq. Ft.: $90/sf
Median Sold Price: $274,000
Number of Sales: 6
Average Days On Market: 165

NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of January 1, 2011 to May 31, 2011. This information was extracted on 5/31/2011. YES, permission was granted by GBRMLS to use Subdivision Price Trends Chart Report!

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
info@accuratevg.com
http://www.accuratevg.com/

http://www.facebook.com/ascrebuzz - Prairieville Housing Trends: Jefferson Crossing Prices Correct In 2011.

Since the Federal Tax Credit Expiration in May 2010, the number of home sales has been on the decline.

A recent home appraisal in and analysis of Jefferson Crossing revealed this interesting finding. From 2007 to 2011, the median sales price has continued to decline slowly. From 2007 to 2010, the median sales prices were $313,700, $299,000, $303,500, $338,000 and in 2011 it's currently $289,000 based only on 5 sales. Again, this is only based on 5 sales in the first 4.5 months of 2011. In 2010, there were 11 total sales, so one can see that the number of home sales for 2011 could be about the same as in 2010. NOTE: Per GBRMLS sheets, two (2) of these home sales were normal, two (2) were below market relocation sales and one (1) was an REO or foreclosure.

THE CORRECTION IN HOME PRICES - This is becoming the familiar "Stair Step Up and Stair Step Down".....The Climb And Then Descent Of The Stairs In This Chart Below Visually Explains The Correction! And, so does the chart below it showing a correction from the average $112.86/sf to $108.11/sf into 2011.

The Chart below is "Sub-Market" study in Northern Ascension Parish for homes similar to Jefferson Crossing homes in the 2,500sf to 3,300sf range. So, instead of a broad inclusion of all homes and the various quality of construction levels or a general market study, this chart below further narrows the solds selected. It shows a correction since May 2010. This chart indicates that it's the entire North Ascension Parish housing market correcting!

The chart below, based on same parameters above, shows 25 competing REOs or Foreclosures taking place since June 2008 or 21.4% of all competing solds. This is a fairly high number. Again, this does not mean that there have been 25 foreclosures in Jefferson Crossing, but rather in the general market. This chart indicates that it's the entire North Ascension Parish housing market correcting!

CURRENT LISTINGS. There are 9 current listings from $254,900 to $352,386 or $112/sf to $128/sf with 8 active and 1 pending or under contract. The Average Listing Price per sq. ft. is $120/sf.

ZERO DISTRESSED LISTINGS. Out of the 9 current listings, 0 or Zero are foreclosure or short sales.

NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of January 1, 2007 to May 23, 2011. This information was extracted on 5/23/2011. YES, permission was granted by GBRMLS to use Subdivision Price Trends Chart Report!

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
info@accuratevg.com
http://www.accuratevg.com/