Zachary, LA

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.

Some of my clients ask the question, "Robert, should I have this house inspected prior to the purchase?" And nearly 99% of the time, I answer "yes". During the home purchasing process, the buyer is given an option to have the house inspected by a professional inspector. In most cases, the buyer is given 10 days from the signing of the purchase agreement to inspect a home. Many times the prospective buyer will forgo the inspection to save the approximately $300 fee charged by most inspectors. Moreover, the owner reserves a right to not correct the items found in an inspection, thereby making the potential buyer leery of paying the $300 fee.

There are some horror stories associated with home buyers who relinquished the right to have the inspection conducted. A couple recently purchased a house and chose not to have it professionally inspected. One week later, after moving in, they began to experience drainage problems underneath the slab. A simple inspection of the water drainage system would have revealed the problem. Fortunately, in this case, the sellers were willing to correct the problem. The repairs cost approximately $2500. A potential for a lawsuit was looming had not the sellers agreed to fix the problem. I have witnessed inspectors finding electrical problems, appliances that do not work, as well as faulty light fixtures.

In most cases, the sellers are willing to correct problems prior to the close of the sale. So, I strongly urge that the buyers have an inspection conducted, especially for older homes (those built in the early seventies). Many of these homes have drainage systems constructed with cast iron piping which could deteriorate over time. Even if the owners elect not to make the repairs, the contract allows a buyer to opt out of the purchase of the house. Remember $300 dollars is a small price to pay to avoid the pitfalls of later discovering hidden defects.

In real estate sales, the community you work and sell in can make or break you in business. When you have a great community, with active involvement and wonderful schools, selling homes is a breeze. My office is blessed to service three wonderful communities.

Today, May 14, 2009, is Red Day in Keller Williams Realty. Every KW office in the United States and Canada is helping out in their areas. Our office chose to help and honor the people that truly make the difference in our business, the teachers, parents and students at the local schools.

We were able to volunteer at two schools. We served breakfast and lunch to teachers and parents, and we read to the children in the classrooms. It was such a wonderful experience that I have already started working on a "Back to School" Day for next year.

In closing I just want to say that we should all take the time to appreciate and honor those people that make a difference in our businesses and lives. They may not be buying and selling today, but they sure make it easy for others to decide to make the move!

http://zacharylouisianarealestate.info/ - Zachary Louisiana FHA Appraisers Report On Beaver Creek February 2009 Update

Sold In Beaver Creek Subdivision from 01/01/2007 to 12/31/2007 revealed:
Average Sales Price: $305,403
Average Sold Price Per Sq. Ft.: $127.06
Median Sold Price: $276,888
Low Sales Price: $216,600
High Sales Price: $534,500
Average # of Days On Market: 79
# of Sales: 12

Solds In Beaver Creek Subdivision from 01/01/2008 to 02/25/2009 reveals:
Average Sales Price: $294,422
Average Sold Price Per Sq. Ft.: $128.82
Median Sold Price: $299,000
Low Sales Price: $237,500
High Sales Price: $341,900
Average # of Days On Market: 162
# of Sales: 9

Therefore, based on the median sale price barometer (the barometer used by the NAR National Association of Realtors) within Beaver Creek On The Plains Subdivision, the market direction appears to be increasing. The Average Sales Price has declined -$10,981 or -3.6%., indicating a new trend of scaling down from buying the larger homes to the smaller homes, from more expensive homes down to the less
expensive homes. Median Sales Price has increased +$22,112 or +8%. Average Sold Price Per Sq. Ft. has increased +$1.80/sf or +1.39%. Overall, this market appears to be stable. HOWEVER, the two (2) 2009 sales in Beaver Creek averaged $117.47/sf, $286,250, $286,250 median sales price and were on the market for an average of 365 days, 285 DOM and 445 DOM. So, the 2009 market is reflecting a slowdown, higher DOM and less per sq. ft.. A declining market is defined as, "A stage of diminishing demand in a market area's life cycle." There is certainly less demand for homes in this price range and less homes selling in this price range. Therefore, while property values appear to be stable, there is an oversupply of competing housing and marketing time periods over 6 months - subject's marketing time period was 209 days.

Beaver Creek Data Is Provided With The Permission Of The Greater Baton Rouge Board of Realtors.

Zachary Louisiana Report On Copper Mill Golf Community January 2009 Update

Sales In Copper Mill $345K to $542K With 19 Sales Since 1/1/08, Average
Size Home 2,800sf, Avg Sold Price $158/sf, Median Sales Price $430K

Solds In Copper Mill from 01/01/2007 to 12/31/2007 revealed:
Average Sales Price: $458,034
Average Sold Price Per Sq. Ft.: $160.80
Median Sold Price: $451,500
Low Sales Price: $291,035
High Sales Price: $623,751
Average # of Days On Market: 197
# of Sales: 16

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 17 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).

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

fastvalue2@cox.net

http://zacharylouisianarealestate.info/