http://www.southpointappraiser.com/ - Denham Springs Real Estate News: South Point Subdivision 2008 Solds Update With Charts

Below is 2 recent charts I completed reporting on the 2008 solds within South Point Subdivision Year To Date. According to the GBRAR MLS, there have been 36 sales in 2008 YTD, with one being an REO/Foreclosure sale. This REO was left out of the charting below. South Point data is presented with the permission of GBRAR.

The first chart shows the relationship between sales prices and living area sizes. The living area size are at the bottom of the first chart.

The second chart shows the relationship between sold prices per sq. ft. and living area sizes. The sold prices per sq. ft. are at the bottom of the second chart.

Also, Here's a Recent South Point Homeowner's Assocation Update:

"In response to a request/suggestion made by a homeowner that attendance at the annual meeting would increase if the meeting was held on a weekend in lieu of a weekend evening, we are proposing that the 2009 Annual Meeting be scheduled for Saturday, January 10, 2009, at 10:00 - 11:00 a.m. Research is currently underway as to whether there are any major sports events on that date/time which may cause an attendance conflict for many homeowners. We would greatly appreciate everyone's feedback as to whether a weekend meeting is preferable. Please email your response indicating whether you prefer to attend a Saturday mid-morning meeting.

Please note: effective with the 2009 year (Bylaws, Amendment No. 8, Art. 4), the Board of Directors will be comprised of five members. Three of the current Board members will be retiring after serving their three year term. Therefore, two vacancies are open for election in 2009. If you are interested, please complete the attached Candidacy Notice. This form should be returned by the January 7, 2009 deadline in order that all nominees are included on the agenda and ballots. Should the date of January 10, 2009 change, the deadline date to return the Candidacy Notice will be changed accordingly. Please limit your response to this email with the question poised above. Emails on other concerns or subjects should be sent separately. Your cooperation is appreciated! Board of Directors
South Point Homeowner's Association, Inc.
P. O. Box 1496
Denham Springs, LA 70727-1496
225-610-9578
www.southpointsubdivision.com "

We all want to thank BP America for its very generous donation of $50,000 to the Livingston Parish Public Schools. The gift was a total and welcomed surprise to all.

BP America donated the funds in an effort to help with the costs of damages from Hurricane Gusta and Hurricane Ike. The two hurricanes were a double whammy greatly impacting many areas through out Louisiana and Texas .

The gift of money is greatly appreciated, especially after all of the support our communities received from BP America at the time of the storms. BP America worked in various communities for weeks following the hurricanes. They distributed bottled water, nonperishable foods, cleaning supplies and funds at that time.

The gift to the Livingston Parish Public Schools was part of BP America's Foundation total donation of $8 million dollars to various communities in Louisiana and Texas for disaster relief. BP America also donated to organizations such as: The United Way, The American Red Cross, and The Salvation Army. Funds were also earmarked for schools, community relief centers, and volunteer fire departments.

To help raise funds, BP America challenged its employees to donate and promised to match their donations up to $1 million dollars.

I would like to express my personal thanks to one and all, in the BP America organization for their efforts.

Yvonne

Livingston Parish Real Estate Market Update - September 2008

Livingston Parish, like Ascension and East Baton Rouge parishes, was negatively effected by hurricane Gustav. Unit sales fell dramatically during September. The following chart illustrates the impact of Gustav upon unit sales in Livingston Parish.

Home have also remained a good investment in Livingston Parish. The following chart shows that average prices in the new home market segment increased during 2008 and homes in the re-sale segment held their values. This is a far different situation than we are seeing in some other areas of the country where the bubble has burst, foreclosures are up and prices have fallen. We will continue to closely monitor prices in our area as the country makes its way through the current economic crisis.

The following set of charts shows absorption rates for the past five years as compared with 2008 and relates that rate to current inventory levels.

Sales of new homes remains depressed compared with prior years. Home sales in the re-sale market segment have settled back to pre-Katrina levels. In the re-sale segment, inventories in the highest velocity price ranges (below $200K) are either in balance or insufficient to meet the demands of the marketplace. Over $200K it rapidly becomes a Buyer's market where supply exceeds the demand.

The preceding analysis was based upon data extracted from the Greater Baton Rouge Association of Realtors MLS system. The information contained herein is presumed to be accurate but is not warranted.

As always, I welcome readers to visit my websites at www.TheHomeVendor.com or www.LiveAscension.com or www.DonAndAlishaStern.com for real estate information about and to search for homes within the Greater Baton Rouge area. Click here to search for homes.

©2008 by Don Stern - all rights reserved

http://denhamspringsappraisers.com/ - Denham Springs Real Estate: What's Been Happening In Audubon Village Subdivision Since 1/1/2007?

I recently completed a home appraisal in Audubon Village Subdivision In Denham Springs and made this discovery below.

Solds In Audubon Village from 1/01/07 to 9/11/08 revealed:
Average Sales Price: $175,280
Average Sold Price Per Sq. Ft.: $103.11/sf
Median Sold Price: $152,450
Low Sales Price: $138,000
High Sales Price: $250,000
# of Sales: 10
Average # of Days On Market: 51 Days On Market

Approx. 75% of Audubon Village Subdivision is made up of homes under $160,000 in the 1,298sf to 1,600sf living area range. However, during this time period, there were 4 higher priced sales @ $175,000, $215,000, $249,900 and $250,000 having 2,030sf up to 2,845sf that skewed the average sales price higher than normal. The most accurate representation of a general value range within Audubon Village is the median sales price of $152,450.

Author's Bio:

Bill Cobb, CREA, is Greater Baton Rouge's favorite and most reputable home appraiser frequently called upon by banks, homeowners, and savvy real estate investors to assess property values. A home appraiser with 16 years experience, Bill Cobb brings a wealth of knowledge to the table as a home appraiser.

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). Denham Springs in located in Western Livingston Parish.

Contact Bill Cobb and Accurate Valuations Home Appraisal Group for your next home appraisal:

Office: 225-293-1500

Fax: 1-866-663-6065

fastvalue2@cox.net

http://www.denhamspringshomeappraisals.com/