About West Baton Rouge Parish, LA

http://www.batonrougerealestatetrends.net/ - West Baton Rouge Parish Quarterly Home Sales By Zip Code Q1 2010 versus Q1 2011 Report. Home Sales volume up 3.7% while correction in Average Sales Price Continues.

Accurate Valuations Group (Home Appraisals) has completed an analysis of the West Baton Rouge Parish housing market from First Quarter 2010 versus First Quarter 2011. The results are below. CLICK ON IMAGE BELOW TO ENLARGE.

This study explores ALL Single-Family Residential home sales for the three (3) zip codes below. In Q1 2010 there were 27 home sales versus 28 in Q1 2011. So, for 2011, number of sales were up by 1 or approximately +3.7%.

70767 Port Allen. For Zip Code 70767, home sales volume was down 14%, Average Sales Price was down -0.7% and Average Sold Price Per. Sq. Ft. was down -5.5%.

70719 Brusly. For Zip Code 70719, home sales volume was up 50%, Average Sales Price was down -11.4% and Average Sold Price Per. Sq. Ft. was virtually unchanged at 0.4%.

70710 Addis. For Zip Code 70710, home sales volume was up 18%, Average Sales Price down -9.9% and Average Sold Price Per. Sq. Ft. was down -2.7%.

These declines are consistent with the CoreLogic report on national home prices falling for the 7th straight month, as reported on Thursday, April 7, 2011. This is the trend for much of Greater Baton Rouge home prices.

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

http://www.westbatonrougeappraiser.com/ - West Baton Rouge Real Estate: Brusly Oaks Report For 2010

Solds In Brusly Oaks from 1/1/2010 to 12/08/2010 revealed:
Average Sales Price: $253,000 ($254,500 in 2009)
Average Sold Price Per Sq. Ft.: $122/sf ($122/sf in 2009)
Median Sold Price: $253,000 ($254,500 in 2009)
Number of Sales: 2 (2 also in 2009)
Average Number of Days On Market: 19 (63 DOM in 2009)
Low To High: $234,000 to $272,000 ($255,000 to $269,900 in 2009)
Number of Sold REO/Foreclosures Noted In MLS: 0
Current # Listings: 1 And Is A Foreclosure
Current Listings Price: $244,900

WHY WE RELY ON MEDIAN SALES PRICE VERSUS AVERAGE SALES PRICE? NOTE: Why Median Sales Price is a better indicator than Average Sales Price! Median Sales Price is the barometer by which the National Association of Realtors utilizes to report on national housing markets. Average Sales Price tends to take all of the home sales prices from the lowest, say $50,000, to the highest, say $1,000,000, and state the average of them all, sometimes skewing the numbers because of the extreme highs and lows. Median Sales Price tends to focus more on the middle of where the bulk of home sales prices are taking place. Generally, the Average Sales Price is going to be higher because it includes the extreme high sales prices in a given market. Fannie Mae understands the problem with using Average Sales Price and now demands home appraisers perform the 1004MC or Market Conditions form based on narrower "sub-market" parameters for comp search. This means that on a 2,000sf home, appraisers would be searching for comps with say 200sf below and above 2,000sf, say 1,800sf up to 2,200sf with similar ages and other similar characteristics.

NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of January 1, 2009 to December 8, 2010. This information was extracted on 12/09/2010.

http://www.batonrougerealestatetrends.net/ - West Baton Rouge Q3 2007 vs Q3 2010 Housing Trends Study Reveals Improving Market!

Accurate Valuations Group Appraiser, Bill Cobb, has performed a 3 year housing market study on West Baton Rouge Parish Housing in GBR MLS Area 70 from 9/1/2007 to 9/30/2010. Search parameters were ALL Residential Housing (except Manfactured Housing) from $75,000 to $500,000 in ALL age ranges. The charts on this page are the results of the study.

The median sold price is up 2%

The At-A-Glance Results Are Below:

The At-A-Glance Results Are Below:

The median price of for sale properties is down 15% and the median price of sold properties is up 2%

The number of sold properties is down 3%

The number of under contract properties is up 42%

The number of new properties is up 26%

The number of for sale properties is up 25%

The number of expired properties is up 44%

The number of for sale properties is up 25% and the number of sold properties is down 3%

The average days on market is down 25%

The Results With Charts Illustrating Results Are Below:

And, the West Baton Rouge Parish Residential Building Permits Through September Show An Active Market For This Smaller Market!

NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of Sept 1, 2007 to Sept 30, 2010. This information was extracted on 10/26/2010.

http://www.westbatonrougeappraiser.com/ - West Baton Rouge Parish Foreclosure Trends: 2009 2010 Foreclosure Sales Numbers! 2010 Foreclosures total 7% of sales YTD; 2009 Foreclosures totaled 5%, an increase of +2% since 2009. 4% of all MLS Listings are Foreclosures! Foreclosures are only moderately impacting this market. There's A Major "Caveat" with the numbers below!

The chart below represents the number of recorded West Baton Rouge Parish REO or Foreclosure Sales within the Greater Baton Rouge MLS as of 10/16/2010, with the exception of Manufactured Housing sales. The GBRMLS Areas for West Baton Rouge Parish is 70.

Let's put these foreclosure numbers into perspective! In 2009, there were a total of 122 sales. 6 foreclosure sales in 2009 represents only 5% of total sales. In 2010, there have been a total of 115 sales. 8 foreclosure sales in 2010 as of 10/16/2010 represents only 7% of total sales. The projected number of reo / fore closures at end of 2010 is approximately 11.

There's A Major "Caveat" with the numbers below! Based on a 7% REO sold rate, which does appear to be an indication REOs are only moderately negatively impacting this market. It's also stated here that an article (The Landmines Within by Michael Tarabotto http://activerain.com/blogsview/930436/The-Landmines-Within ) stated that as much as 70% of REOs never make it into the MLS - Meaning that it might be impossible to know or state the exact # of competing REOs if they're not being listed and that the foreclosure problem could be larger if up to 70% of REOs aren't being listed. MLS is reporting 4 current REO listings for all West Baton Rouge MLS Area 70 out of a total 114 total listings. So, 4% of all West Baton Rouge MLS Listings are Foreclosures!

REO is "Real Estate Owned"!

Data used with permission of the GBRMLS. Search dates are 1/1/2009 to 10/16/2010. Extraction date was 10/16/2010.

http://www.westbatonrougeappraiser.com/ - West Baton Rouge Parish Residential Building Permits Charting From 2000 Through September 2010

The West Baton Rouge Parish Residential Building Permit Data Through September 2010 has been released. See the results above for actual residential building permits less those permits issued for additions or remodeling projects. In 2008, there were a total of 146, in 2009 131 and in 2010 year-to-date, there have already been 136 through September 2010. If this pace continues through 2010, there should be 181 permits issued, which will be better than both 2008 and 2009. The above data represents the number of total residential buildings, not necessarily the number of units. For example, in 2008, the U.S. Census Bureau shows that 284 total units were permitted, but only 146 residential buildings permitted.

RESIDENTIAL BUILDING PERMIT CHARTS FROM YEARS 2000 TO 2010 YEAR-TO-DATE (Sept. 2010) NOTE: Does Not Include Permits For Additions or Remodeling!

Source: U.S. Census Bureau and Chad Calder with The Advocate Newspaper

Note: The Latest Greater Baton Rouge Residential Building Permits News is here below: