Denham Springs, LA

Denham Springs & Walker Market Comparison Study From Periods 6/1/2007-12/31/2007 to 1/1/2008-8/21/2008

8/21/2008 - Time To Do Some Number Crunching.
By Bill Cobb - Accurate Valuations Home Appraisal Group

Article with Graphs can also be viewed @ http://denhamspringsappraisers.com/

Last Thursday, The Advocate Newspaper published an article from the National Association of Realtors that said the Baton Rouge metropolitan area's 2nd quarter median home price fell to $164,000 from $174,700 a year ago. However, the local Realtors' leadership said on Friday its data showed the figure increased to $176,000. On Saturday, the NAR issued a correction concurring with GBRAR. Median price is the NAR's barometer being used - Median means that half the homes sold were below that amount and half were above that amount. Yes, our market is slower, but our median home price has not dipped. A comparison between EBRP in July 2004 shows 140 sales versus only 94 sales for July 2008. So, yes, we are now in a slower market, but home sales are steady and inspire confidence in our local markets.

Saturday 8/16/08, The Advocate published what the Livingston Parish Board of Realtors see as a possible error, that Livingston Parish homes sales dropped a steep 39 percent when comparing totals from July 2007 and July 2008.

Sunday 8/17/08, WAFB.com published an article about 45 homes priced over 1 million dollars on the market in Greater Baton Rouge. The article stated that Country Club of Louisiana sales were down 50% from 1 year ago. They also interviewed an influential local developer who said Baton Rouge's darkest days would arrive in 12 to 18 months from now and that would be the time to buy. Will Baton Rouge really see its darkest days in 12 to 18 months? ...........only time will tell.

Saturday 8/23/08, The Advocate published, " Livingston permits drop 74 percent - The number of permits issued to build new homes dropped almost 75 percent in the past 18 months, according to data from Livingston Parish government".

After these 4 recent articles, I began to wonder if the local media outlets were trying to promote hysteria in our local market just as the national media is stirring the national hysteria over the housing picture - with a large, irresponsible spoon in some cases. Do we now have a negative, speculative press in our local area? Is the real estate market in Western Livingston Parish really that bad - as compared to the national housing market? As a local home appraiser with these questions swirling in my mind, I picked up my HP12C and went to work doing some serious number crunching.

The following reveals my discoveries:

Search Parameters Defined. Time periods used are from 6/1/07 to 12/31/2007 and 01/01/2008 to 8/21/08 because The Advocate/NAR article used July 07 and because around 8/2007 is when the mortgage meltdown really began to happen. It's important to capture the market picture after the mortgage meltdown began. To go back to 1/1/07 to 12/31/07 would use a period of time when the market was higher (post Katrina) and the mortgage meltdown wasn't really a factor for 7 of those 12 months of that period of time. Some subdivisions were not added to this study, such as Plantation Estates, because they didn't have enough sales between these 2 periods of time to draw a reliable conclusion. Also, any potential REO sales were excluded from this study.

Denham Springs 70706 - generally the area above Lockhart Road and north into Watson. A representative sample of Ten (10) residential subdivisions were studied comparing average sold price, median sold price and average sold price per sq. ft.. Remember - the NAR's barometer for market direction is "Median" sales price. The results of this study showed Denham Springs 70706's median sales price increased +$9,903, average sales price increased +$4,562 and the average sold price per sq. ft. decreased by only -$0.54 cents.

Denham Springs 70726 - generally the area below Lockhart Road. A representative sample of Twelve (12) residential subdivisions was studied. The results of this study showed Denham Springs 70726's median sales price increased +$3,194, average sales price increased +$576 and the average sold price per sq. ft. decreased by -$2.60.

Walker 70785. Walker has experienced the most decline - albeit very modest. A representative sample of Seven (7) residential subdivisions was studied. The results of this study showed Walker's median sales prices decreased only -$193, average sales price decreased -$1,181 and the average sold price per sq. ft. decreased by -$1.23 cents. It would be reasonable to say that the Walker market is holding fairly steady and shows only a minor dip in home values.

In light of some of the bleak pictures read concerning those pockets of doom in the national housing market (California, Florida, Georgia, Ohio, Michigan and Arizona) , it's appropriate to conclude that Greater Baton Rouge and in Livingston Parish are a blessed population . In some cases, we have increased home values and in others, we are remaining steady.

NOTE: Total Change is derived by dividing the total by the # of subdivisions.

70706

Subdiv. Name	6/07-12/07 Average Sales Price	6/07-12/07 Median Sales Price	6/07-12/07 Average $ Per Sq. Ft.	2008 Average Sale Price	2008 Median Sales Price	2008 Average $ Per Sq. Ft.	Average Sales Price Change	Median Sales Price Change	Average Sq. Ft. Change
Acadiana Pl	162,652	160,000	113.14	163,471	160,000	111.38	+819	0	-$1.76
Beau Chen	135,160	133,400	104.47	130,850	131,500	109.41	-4,310	-$1,900	+4.94
Crestwood	136,603	136,500	110.53	137,717	136,250	110.25	+1,114	-250	-0.28
EagleRidge	139,160	138,000	109.76	141,975	141,400	111.02	+2,815	+3,400	+1.26
Easterly Lk	245,280	224,900	114.27	263,780	282000	110.03	+18,420	+57,100	-$4.24
Fountnbleau	179,033	176,950	105.83	177,640	179,400	102.20	-1,393	+2,450	-3.63
Glenwd Est	146,870	143,000	110.22	150,956	150,000	110.39	+4,086	+7,000	+0.17
Liv Ok Land	212,862	219,900	114.63	205,717	211,750	107.15	-7,145	-8,150	-7.48
Oak Hills	218,975	212,500	113.82	248,000	248000	113.80	+29,025	+35,500	-0.02
Otts Cove	145,362	144,311	104.46	147,550	148,200	106.57	+2,188	+3,889	+2.11
Total Change							+$4,562	+$9,903	-$0.54

70726

Subdiv. Name	6/07-12/07 Average Sales Price	6/07-12/07 Median Sales Price	6/07-12/07 Average $ Per Sq. Ft.	2008 Average Sale Price	2008 Median Sales Price	2008 Average $ Per Sq. Ft.	Average Sales Price Change	Median Sales Price Change	Average Sq. Ft. Change
Aud. Trace	196,633	200,000	113.09	195,700	195,750	112.87	-933	-4,250	-0.22
Carter Hills	158,712	163,000	111.32	157,750	157,750	109.62	-962	-5,250	-1.70
Forest Ridg	237,946	233,700	90.96	228,414	240,000	90.74	-9,532	+6,300	-0.22
Grays Crk	202,871	202,630	101.77	205,223	205,495	99.96	+2,362	+2,865	-1.81
Greystone	429,127	426,000	167.04	454,043	460,000	156.80	+24,916	+34,000	-10.24
Plant Park	107,100	111,900	92.61	104,738	104,000	91.06	-3100	-7900	-1.55
Shadow Sp	134,722	136,000	92.32	131,329	131,000	83.66	-3,393	-5,000	-8.66
Sth Haven	228,430	217,800	96.35	220,200	226,000	92.99	-8,230	+8,200	-3.36
Sth Point	147,362	146,500	92.64	149,704	154,900	92.56	+2,342	+8,400	-0.08
Westm Est	159,823	161,350	90.11	158,829	158000	90.23	-1,823	-3,350	+0.12
Woodl Crs	151,578	154,900	91.15	156,781	159,000	87.99	+5,203	+4,100	-3.16
Willow Pt	181,351	182,450	113.90	181,415	182,660	113.59	+64	+210	-0.31
Total Change							+$576	+$3,194	-$2.60

70785

Subdiv. Name	6/07-12/07 Average Sales Price	6/07-12/07 Median Sales Price	6/07-12/07 Average $ Per Sq. Ft.	2008 Average Sale Price	2008 Median Sales Price	2008 Average $ Per Sq. Ft.	Average Sales Price Change	Median Sales Price Change	Average Sq. Ft. Change
Collins Pl	260,093	252,000	124.91	251,644	254,950	120.07	-8449	+2,950	-4.84
Driftwood	159,450	162,450	105.93	152,617	155,000	100.35	-6,833	-7,450	-5.58
Duff Villag	141,143	140,650	105.31	139,156	139,950	103.81	-1,987	-750	-1.50
Lk Fennwd	197,300	187,900	111.76	196,667	218,000	115.59	-633	+30,100	+3.83
Spring Lak	183,678	184,900	103.81	187,738	185,250	97.84	+4,060	+350	-5.97
Three Laks	238,343	250,000	111.64	247,985	231,000	116.63	+9,642	-19,000	+4.99
The Mdws	145,617	147,450	104.94	141,570	139,900	105.43	-4,070	-7,550	+0.49
Total Change							-$1,181	-$193	-$1.23

Open Market
Second Saturday of Each Month
7:00am-2:00 pm

ACLP Jazz Festival 2008- A fun festival for all that features local and regional jazz artist. Also, the festival has several booths set up with: health and safety information and good food. They also offer an art show and a car show. It's fun for the whole family. (April)

Canine Fun Day- This is a FFA Fundraiser. This fun day is held at the Continental Kennel Club in Livingston, La from 10:00 am- 4:00 pm on Saturday, April 26th, 2008.

Livingston Parish Farmers Market
Open Every Saturday
398 Herbert Hoover Blvd.

Tickfaw 200- For more information please visit: www.dundeeproductions.com. This is held in the swamps of Louisiana on May 3, 2008.

Annual Living History Civil War Re-enactment- This takes place the second week in March 7,8,9 2008.

Annual Spring Fair/ Arts & Crafts Day- Held at the Tickfaw State Park. This will take place March 15,2008 in Springfield, La.

2nd Annual Lake Jam- This will take place on the sand bar of Maurepas north of the Blind River in the southwest quadrant. It will be held on May 10, 2008 at 11:00 am.

2nd Annual Kaitlin Aydell Scholarship Benefit- This is a jambalaya cook off contest. The entry fee is $55 and starts on May 17th, 2008. It will be held at the Moonlight Inn French Settlement.

The Livingston Parish Country & Gospel Jubilee - "Kids Go Classic Country". This is held on May 17th, 2008. The doors will open at 5:30pm and the show starts at 7:00 pm. Tickets can be purchased at the door. For more information, please visit: www.lpcjubilee.com

Relay For Life "Wild Hogs"-This is a motorcyle poker run. It will be held on Saturday, May 17 2008. $25 for drivers and $10 for passengers. Registrations starts at 8:00 am at the Mariner's in Port Vincent. For more information call (225)667-8308

Relay For Life- This will be held June 13, 2008. Relay For Life will be the host for several games, activities and contests. There will be great food including: hot dogs, hamburgers and good ole jambalaya. For more information call (225)667-8026

Flag Day- Denham Springs offers a flag day. It's Saturday, June 14th at 9:00 am. It will be held in the Hancock Bank parking lot with a reception to follow.

4th of July Fireworks- Denham Springs really knows how to celebrate 4th of July. Come see the beautiful fireworks on July 3rd at the Fayard's Field.

"Honor America Day"- Let's honor America on July 4th. This is the annual Fourth of July event. It will be held at Train Station Park in Denham Springs. For more info, please call (225)664-1168

Business Window Painting Contest- Come see Denham Springs businesses show their creativity. This will take place September 20th. The winners will be announced September the 27th.

Scarecrow Contest- Just in time for the fall, Denham Springs will hold a scarecrow contest. This will be on Saturday, September 27th from 9:30am-11:00 am. Sorry adults, this contest is only open to first grade -twelfth grade. It will be held at Town hall with a wonderful reception to follow.

Livingston Parish Fair- Come enjoy the fun at the fair. The fair runs October 6th-13th. It takes place at the Livingston Parish Fair Grounds. For more info, please call (225)686-1333

Hungarian Harvest Dance- This will be held on October 6, 2008 at the American Legion Hall Post 258, Hwy 43 Albany/ Springfield Rd at 5:00 pm.

Echo's of The Past- The rehearsal for Echo's of The Past will be held Friday, October 24th and filming. Saturday, October 25th Echo's will be held from 6:00 pm-8:00pm at the Springfield Cemetery.

Springfield Christmas Parade & Mini Christmas Park- This will be held on Monday, December 1st at 7:00 pm.

Denham Springs Elementary
306 N. Range Ave.
Denham Springs,
(225)665-5855

Denham Springs High School
1000 N. Range Ave.
Denham Springs, La
(225)665-8851

Denham Springs Jr. High
401 Hatchell Ln.
Baton Rouge, La
(225)665-8601

Freshwater Elementary School
1025 Cockerham Rd.
Denham Springs, La
(225)5371

Levi Milton Elementary School
31450 Walker N Rd.
Denham Springs, La
(225)664-9711

Lewis Vincent Elementary School
7686 Vincent Rd.
Denham Springs, La
(225)665-8198

Live Oak Elementary School
35194 Old Hwy 16
(225)665-6702

Live Oak High School
35086 Hwy 16
Denham Springs, La
(225)665-8858

Live Oak Middle School
8444 Cecil Dr.
Denham Springs, La
(225)664-3211

Northside Elementary School
1090 Robbie St.
Denham Springs, La
(225)664-4223

South Live Oak Elementary School
8400 Cecil Dr.
Denham Springs, La
(225)667-9330

South Walker Elementary
13745 Milton Ln
Walker, La
(225)66509446

Southside Elementary School
1129 Range Ave.
Denham Springs, La
(225)665-5500

South Side Jr. High
26535 Hwy 16
Denham Springs, La
(225)664-4221

Walker Freshman High School
13443 Burgess Ave.
Walker, La
(225)664-0243

Walker High School
12646 Burgess Av.
Walker, La
(225)665-9926

Westside Junior High School
12615 Burgess Av.
Walker, La
(225)665-8259

Doyle Elementary School
29285 Range Rd.
Livingston, La
(225)686-2416

Doyle High School
20480 Circle Dr.
Livingston, La
(225)686-2318

North Corbin Elementary
32645 N. Corbin Rd.
Livingston, La
(225)686-9169

North Corbin Jr. High
32725 N. Corbin Rd.
Livingston, La
(225)686-2038

Are You Looking For A Fun, Professional Real Estate Agent?
Please Give Me A Call!
Lindsay Pendleton
Baton Rouge & Denham Springs Real Estate Agent
(225) 362-0437
www.ForSaleByLindsay.com
Lindsay@ForSaleByLindsay.com

Denham Springs-/WatsonI just love good ole Denham. It's really come a long way. There seems to be a lot of new construction going on in Denham. The good thing about Denham is that you can get a really beautiful house for much less than you could in Baton Rouge.There are about 10,000 residents living in Denham Springs.

The best thing about Denham Springs is the school district. I have heard over and again that they have awesome schools. One of the great schools I have heard about is Live Oaks.I've met several parents that want to move to Denham just to get into the Live Oaks School District.Here are some neighborhoods that are in Denham:

Greystone
South Point
Crystal Lakes
Rural Tract
Woodcrest
Easterly Farms

 

Walker- To me, Walker is like a mini-Denham. It's also come a long way and it steady growing.There is a new area around Walker called Juban that is starting to boom. There are some really nice homes there that I think are really affordable. There are several new subidvisions popping up in Walker and Juban.If you really like country living, then you would probably love Walker and Juban.