http://www.zacharylouisianarealestate.info/ - Zachary LA Home Appraisers: Zachary Hills Estates Subdivision 2011 Update. Zachary Hills is built up with a variety of both older 16-20 to 21-30 year old homes as well as newer homes in the 1 to 10 year old range, which creates a wider gap in the up and downs of home price trends charting. I said that to say that the ups and downs on the chart may not be as wide if the same age homes were compared.

Since the Federal Tax Credit Expiration in May 2010, the number of home sales in Greater Baton Rouge has continued to decline. Zachary Hills Subdivision, with only 1 home sale in the first 5 months of 2011 (as of 5/27/2011), appears to be experiencing this same trend of lower number of home sales.

A recent analysis of and home appraisal in Zachary Hills Estates Subdivision revealed this interesting finding. From 2008 to 2011, the median sales price has continued to remained in flux. From 2008 to 2011, the median sales prices have varied from $185,500, $193,500, $186,900 and in 2011 it's currently $159,900 BUT based only on 1 sale at $91/sf of an older 21-30 year old home. The chart below has not yet been updated to reflect this 2011 sale.

CURRENT LISTINGS. There are 3 current listings from $170,900, $180,000 to $199,900 with 2 active and 1 pending or under contract. The Average Listing Price per sq. ft. is $99/sf.

NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of January 1, 2008 to May 27, 2011. This information was extracted on 5/27/2011. YES, permission was granted by GBRMLS to use Subdivision Price Trends Chart Report!

ABOUT ZACHARY LOUISIANA HOME APPRAISERS:

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.zacharylouisianarealestate.info/ - Zachary LA Market Metrics: 2008-2011 Pointe South Homes Sales Report. I recently completed an appraisal an an 1,800sf 5 year sold home in Pointe South Subdivision and made these discoveries. The Pointe South market itself is generally performing better than competing home sales in Zachary as a whole.

For Example, the GBRMLS Chart for Pointe South itself below shows a continuing upward direction for Median Sales Prices. This MLS chart for Pointe South shows the 4 solds in 2011 have increased the Median Sales Price to $259,450, a substantial increase over 2007, 2008, 2009 and 2010 when the Median Sales Prices were $234,000, $230,000 and $248,000. However, the second MLS chart below shows All competing solds since 6/2008 and a correction downward since 5/2010. Because Pointe South itself is performing well, no declining markets adjustments were applied.

The Chart below shows a correction since May 2010 for competing homes in general.

NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of January 1, 2008 to May 16, 2011. This information was extracted on 5/16/2011. YES, permission was granted by GBRMLS to use Subdivision Price Trends Chart Report!

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.zacharylouisianarealestate.info/ - Appraisers In Zachary Louisiana 70791: Lake Pointe Subdivision 2010 Update. There's ups and downs to report for this higher end market!

Entrance Image Source: http://lakepointezachary.com/

Solds In Lake Pointe from 1/2010 to 12/03/2010 revealed:
Average Sales Price: $271,400 ($257,700 in 2009 ='s +$5.3%)
Average Sold Price Sq. Ft.: $121/sf ($117.44/sf in 2009 ='s +3%)
Median Sold Price: $252,000 ($265,000 in 2009 ='s -4.9% Decline)
Number of Sales: 5 (5 in 2009)
Average Number of Days On Market: 158 (129 in 2009)
Low To High: $236,000 to $360,000 ($204,000 to $330,000 in 2009)
Number of Sold REO/Foreclosures Noted In MLS: 0
Current # MLS Listings: 1, 0 Are Foreclosures
Current Listings Prices: $279,900

WHY WE RELY ON MEDIAN SALES PRICE VERSUS 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 3, 2010. This information was extracted on 12/03/2010.

Tags: Baton Rouge Housing, Baton Rouge Housing Market, Baton Rouge Real Estate, Baton Rouge Real Estate Housing, East Baton Rouge, Greater Baton Rouge, Zachary La, Zachary Louisiana, Lake Pointe, 70791

Zachary Real Estate Market Report

The data used in this report were extracted from the Greater Baton Rouge Association of Realtors MLS database. The data are presumed accurate but are not warranted.

The data used represent sales of detached single family homes in Zachary, LA.

Unit sales of new construction in March dropped for the third consecutive month. The re-sale market segment, however, enjoyed an enormous increase in unit sales during March. A total of 17 previously owned homes sold in March and only 12 sold during January and February combined.

Most of the re-sales during March were in the $251K-$300K range although there were sales ranging from $53K to $520K. For the first quarter of 2010, the highest velocity of home sales in the new construction segment was in the $201K to $250K range. In the re-sale market segment the highest velocity of home sales was in the $251K-$300K range. At first quarter absorption rates there is an oversupply of homes. The new construction segment has a 7.5 month supply while the re-sale segment has a 10.6 month supply.

The average price per square foot of living area is, on average, higher for the first quarter of 2010 than the annual average for 2009. The re-sale segment, on the other hand, has seen a drop of about 6% during the first quarter from $109.37/sq.ft. to 102.88/sq.ft.

Looking at monthly trends, it appears that $/sq.ft. is trending upward for new construction, although we do observe a drop in the average for two consecutive months. If the absorption rate of new construction continues to drop off that will put downward pressure on pricing. In the re-sale segment, pricing weakness is observed. This is probably due to an oversupply of homes.

As always, I appreciate hearing from readers and I welcome any comments or suggestions for improvement that you may offer.

©2010 by Don Stern - All Rights Reserved

(225)413-3634 phone (866)723-5477 fax

don@thehomevendor.com - email

www.TheHomeVendor.com www.DonAndAlishaStern.com

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www.WaterfrontPropertyLA.com

I reported in the first quarter of this year that home sales had out paced sales during the same period in 2008. Well, after getting off to a fast start, homes sales slowed a little, and are now on pace with sales in the first half of 2008. Through July 2009, a total of 176 homes were sold as compared to 173 during the same period in 2008. However, these numbers still do not compare to the 253 homes sold during the same period in 2007. Because the 2009 and 2008 sales are almost the same, it maybe an indication that the housing slump has bottomed out. The remainder of this year will be interesting as some national prognosticators are projecting homes sales to remain flat through the rest of this year. I tend to agree .

Data Obtained from the Greater Baton Rouge Association Of Realtors.