Denham Springs, LA

FAIR WARNING: numbers, numbers & more numbers.....

After taking a look at the October sales and inventory numbers for Livingston Parish, I wanted to drill in a little bit deeper to better understand what is happening in the available inventory pool of homes. This analysis is based on a snapshot of the inventory available today - it will change tomorrow, the day after and so forth, but I think this information gives a nice picture of what is happening on the ground right now. I plan on refreshing this information each month and after I have a couple of months data, then I'll figure out a way to graph the trends that are occurring.

I think it is important - particularly if you are selling your home - that you understand how many other homes you are competing against in and around your price range....and have some general idea of how quickly or slowly other homes in your price range are selling. As of November 10, 2010, there are 891 homes currently available for sale in Livingston Parish listed in the MLS. There is detail information listed in the chart below, but I want to highlight a couple of areas:

Price Segment Information:

• 66% of all the available homes for sale are in the $100,000 - $199,999 price range
• 85% of all the available homes for sale are priced under $250,000

% of Homes on the Market for 160+ Days

• $100,000 - $149,999: 26% of available homes have been on the market 160+ days
• $150,000 - $199,999: 31% of homes
• $200,000 - $249,000: 24% of homes

The market has clearly slowed down, so I would counsel patience to the home sellers who have not yet sold their home. Competition is fierce and it is critical that you have done everything possible to make sure your home is in the best possible showing shape. The good news is that average home prices are quite steady - our homes are retaining their investment value.

LOTS and LOTS of numbers! If you have questions or would like to discuss them - I'd love to hear from you. If you'd like for me to run some more specific numbers for your subdivision - just give me a call at 225.287.9448 or send me an e-mail at Quinton@BatonRougeAreaHomes.com

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Click here if you'd like to search available inventory

http://www.batonrougerealestatetrends.net/ - Denham Springs Housing Trends: High End Homes Two Year Study Released!

Accurate Valuations Group Appraiser, Bill Cobb, has performed a 2 year housing market study on MLS Areas 81 and 83 from 9/1/2008 to 9/30/2010. Search parameters were ALL Residential Housing (except Manfactured Housing) from $300,000 to $600,000 and ALL ages (proposed, new and existing). The charts on this page are the results of the study.

Sep-08 vs. Sep-10: The median sold price is up 6%

Sep-08 vs. Sep-10: The median price of for sale properties is down 1% and the median price of sold properties is up 6%

Sep-08 vs. Sep-10: The number of sold properties is down 50%

Sep-08 vs. Sep-10: The number of under contract properties is up 100%

Sep-08 vs. Sep-10: The number of new properties is no change!

Sep-08 vs. Sep-10: The number of for sale properties is up 34%

Sep-08 vs. Sep-10: The number of expired properties is up 100%

Sep-08 vs. Sep-10: The number of for sale properties is up 34% and the number of sold properties is down 50%

Sep-08 vs. Sep-10: The average days on market is down 5%

Sep-08 vs. Sep-10: The average months supply of inventory is down -37.9%

NOW FOR THE CHARTS ILLUSTRATING THESE RESULTS!

Sep-08 vs. Sep-10: The median sold price is up 6%

Sep-08 vs. Sep-10: The median price of for sale properties is down 1% and the median price of sold properties is up 6%

Sep-08 vs. Sep-10: The number of sold properties is down 50%

Sep-08 vs. Sep-10: The number of under contract properties is up 100%

Sep-08 vs. Sep-10: The number of new properties is no change!

Sep-08 vs. Sep-10: The number of for sale properties is up 34%

Sep-08 vs. Sep-10: The number of expired properties is up 100%

Sep-08 vs. Sep-10: The number of for sale properties is up 34% and the number of sold properties is down 50%

Sep-08 vs. Sep-10: The average days on market is down 5%

Sep-08 vs. Sep-10: The average months supply of inventory is down -37.9%

NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of Sept 1, 2008 to Sept 30, 2010. This information was extracted on 10/20/2010.

http://www.batonrougerealestatetrends.net/ - 2010 Denham Springs Housing Trends: Ten One Year Housing Charts Explain Median Sold Prices Up, Number of Sold Properties Decreases and Inventory Grows!

Accurate Valuations Group Appraiser, Bill Cobb, has performed a 1 year housing market study on MLS Areas 81 and 83 from 9/1/2009 to 9/30/2010. Search parameters were ALL Residential Housing (except Manfactured Housing) from $50,000 to $500,000 and ALL ages (proposed, new and existing). The charts on this page are the results of the study.

http://www.batonrougerealestatetrends.net/ - 2010 Denham Springs Housing Trends: Three Year Housing Charts Show A Minor Post Hurricane Katrina Market Correction, Which Was To Be Expected! Q3 2007 vs. Q3 2010: The median sold price is down 3%. Q3 2007 vs. Q3 2010: The number of sold properties is down 41%. Q3 2007 vs. Q3 2010: The median sold price is down 3%. Q3 2007 vs. Q3 2010: The number of under contract properties is down 21%. Q3 2007 vs. Q3 2010: The number of new properties is down 48%. Q3 2007 vs. Q3 2010: The number of for sale properties is down 23%. Q3 2007 vs. Q3 2010: The number of expired properties is down 18%. Q3 2007 vs. Q3 2010: The number of for sale properties is down 23% and the number of sold properties is down 41%. Q3 2007 vs. Q3 2010: The average days on market is up 71%.

Accurate Valuations Group Appraiser, Bill Cobb, has performed a 3 year housing market study on MLS Areas 81 and 83 from 9/1/2007 to 9/30/2010. Search parameters were ALL Residential Housing (except Manfactured Housing) from $50,000 to $500,000 and ALL ages (proposed, new and existing). The charts on this page are the results of the study.

Q3 2007 vs. Q3 2010: The median sold price is down 3%

Q3 2007 vs. Q3 2010: The median price of for sale properties is down 6% and the median price of sold properties is down 3%

Q3 2007 vs. Q3 2010: The number of sold properties is down 41%

Q3 2007 vs. Q3 2010: The number of under contract properties is down 21%

Q3 2007 vs. Q3 2010: The number of new properties is down 48%

Q3 2007 vs. Q3 2010: The number of for sale properties is down 23%

Q3 2007 vs. Q3 2010: The number of expired properties is down 18%

Q3 2007 vs. Q3 2010: The number of for sale properties is down 23% and the number of sold properties is down 41%

Q3 2007 vs. Q3 2010: The average days on market is up 71%

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 10/22/2010.

As a real estate professional, we have the fiduciary responsibility to look out for the best interest of our clients at all times. One of those duties in doing so, is trying to get a home warranty on both ends of the transaction.

When I'm representing the seller, I try to get them to get seller coverage to protect them during the listing period. The same goes for the buyer when purchasing the home, we like for our buyers to have many years of happiness in their new home, so a warranty should cover most issues that arise regarding mechanical items.

One company where I live promotes, the "No Pre-Existing Conditions" on when promoting their warranties. Recently, a home was inspected, with no issues/defects noted in the inspection report regarding the Air Conditioning. The home inspector attributed the lack of cooling in the home to that of extreme temperatures/preference of the buyer on the day of the inspection. He did not note any defects with the worksmanship or function of the unit.

Less than two weeks after purchasing their home, my buyers were expecting a child, and hired a second A/C company to come out to see if something was wrong with the unit. They made mention of the dampers being defected and not opening when they were supposed to open preventing the unit from cooling. Furthermore, the clients noticed that there was an issue with the Pea Trap not being installed on the sewer line in the laundry room, and paid the warranty company to come out to check. The clients mentioned when they made the service call that they thought this was the issue, and the warranty company stated they understood. The warranty company gladly took my clients money for the service call, but stated the this item was not covered due to lack of parts installed!!!!

My clients are now faced with faced with having to contact an AC Repairman and a Plumber to fix what could be major problems in their home at their own expense.

Preaching no Pre-Existing Conditions is one thing, but poor customer service is another.

What would you do?