Baton Rouge Real Estate News
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Baton Rouge Real Estate News
The Scoop On Baton Rouge Housing by Bill Cobb With Accurate Valuations Group Home Appraisals www.accuratevg.com and Editor of Baton Rouge Housing Reports www.batonrougehousingreports.com . Sign Up For Email Updates Here: http://bit.ly/GRQqsm  .  DROP BILL A NOTE HERE: http://bit.ly/GSvAXd
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Questions About Baton Rouge Housing You Want To Ask? Thinking Of Adding An Addition or Pool and Have Question?

Questions About Baton Rouge Housing You Want To Ask?  Thinking Of Adding An Addition or Pool and Have Question? | Baton Rouge Real Estate News | Scoop.it

Questions About Baton Rouge Housing You Want To Ask? Thinking Of Adding An Addition or Pool and Have Question?

Baton Rouge Real Estate News's insight:

My Mission Is To Help Locals Make Informed Housing Decisions! 


Ask your Baton Rouge Housing Questions At The Link Below by 


DROPPING BILL COBB APPRAISER A NOTE HERE: http://on.trulia.com/1qitWH0 

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Baton Rouge Great Flood Post Flood Renovated Home Sales Update Februa…

Baton Rouge Great Flood Post Flood Renovated Home Sales Update February 6 2017
Baton Rouge Real Estate News's insight:

Baton Rouge Great Flood Post Flood Renovated Home Sales Update February 6 2017

Baton Rouge Great Flood Renovated Home Sales Update February 6 2017, see slideshare below
 
I don't want to over sensationalize here as each day brings more information and apparently more momentum. I'm wondering if there could be a bidding war to some extent due to low inventory. In O'Neal Place 1 recent newly renovated listing sold for full price within 1.5 hours. Another renovated listing on Bonham is pending, listed at $178,000. In Linda Lee Subdivision in Watson, one renovation that had at least 4-5 feet of water sold in 2 days.
 
Not ALL flooded-renovated homes are selling this fast. Of the 54 sales so far, they've sold on average of 44 days and took 61 days to close. However, most of these sold in 2016 before the 2017 momentum kicking in. Some I've appraised finished and move in ready still have not closed...for some reason.
 
By March-April, I expect it to get very interesting...

 

 

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Assessing elevation: Not many Baton Rouge homes required to be raised so far

Assessing elevation: Not many Baton Rouge homes required to be raised so far | Baton Rouge Real Estate News | Scoop.it
Panic followed the inspectors into the flooded neighborhoods.
Baton Rouge Real Estate News's insight:

Assessing elevation: Not many Baton Rouge homes required to be raised so far - The Advocate News

This is great news for some in Greater Baton Rouge! 

http://www.theadvocate.com/baton_rouge/news/article_aee36174-de85-11e6-b43b-378a831d9430.html

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Greater Baton Rouge Home Sales 2016 Year In Review

Greater Baton Rouge Home Sales 2016 Year In Review | Baton Rouge Real Estate News | Scoop.it
Greater Baton Rouge Home Sales 2016 Year In Review
Baton Rouge Real Estate News's insight:

Greater Baton Rouge Home Sales 2016 Year In Review

Read more http://www.batonrougehousingreports.com/2017/01/greater-baton-rouge-home-sales-2016-year-in-review/

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Greater Baton Rouge Great Flood Repaired Renovated Home Sales Update

Greater Baton Rouge Great Flood Repaired Renovated Home Sales Update | Baton Rouge Real Estate News | Scoop.it
Greater Baton Rouge Great Flood Repaired or Renovated Sales Study Update, Low Inventory To The Rescue! As of January 24, 2017 Greater Baton Rouge Low
Baton Rouge Real Estate News's insight:
Greater Baton Rouge Great Flood Repaired Renovated Home Sales Update
 
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Baton Rouge home sales skyrocket as investors, bargain hunters buy flooded, gutted homes

Baton Rouge home sales skyrocket as investors, bargain hunters buy flooded, gutted homes | Baton Rouge Real Estate News | Scoop.it

DON'T OVERPAY FOR THESE HOMES!  I SEE SOME BUYERS PAYING TOO MUCH IN SEVERELY DAMAGED SUBDIVISIONS! 

 

"Michael and Michelle Wade are buying a home in the Sherwood Forest area: a four-bedroom, 2½-bath house in a good location for their family that includes 14-month-old Emma. It has

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Did Baton Rouge 2016 Great Flood impact home sales prices? | Baton Rouge Real Estate Housing News

Did Baton Rouge 2016 Great Flood impact home sales prices? | Baton Rouge Real Estate Housing News | Baton Rouge Real Estate News | Scoop.it

Did Baton Rouge 2016 Great Flood impact home sales prices?

Read more http://www.batonrougehousingreports.com/2016/12/did-baton-rouge-2016-great-flood-impact-home-sales-prices/

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Baton Rouge Home Sales 2016 Stats By Subdivision Names | Baton Rouge Real Estate Housing News

Baton Rouge Home Sales 2016 Stats By Subdivision Names | Baton Rouge Real Estate Housing News | Baton Rouge Real Estate News | Scoop.it

Baton Rouge Home Sales 2016 Stats By Subdivision Names

Read more http://www.batonrougehousingreports.com/2016/12/baton-rouge-home-sales-2016-stats-by-subdivision-names/

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Metro Baton Rouge home sales jump up 24 percent in October as market overcomes flood delays

Metro Baton Rouge home sales jump up 24 percent in October as market overcomes flood delays | Baton Rouge Real Estate News | Scoop.it
Home sales in metro Baton Rouge increased by 24.4 percent in October, a sign that the market is overcoming delays caused by the devastating August floods.
Baton Rouge Real Estate News's insight:

We're in LOW INVENTORY market! - is the theme in 2016....
Yet, 196 more homes sold in October 2016 than in October 2015 when inventory was also low...


So, how can low inventory be the theme, so ultra low when more homes sold in October 2016 than in October 2015?

Was the October sales bump just delayed August sales postponed until after the flood crisis?

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​Baton Rouge Golf Course Homes Produce Higher Real Estate Values? 

​Baton Rouge Golf Course Homes Produce Higher Real Estate Values?  | Baton Rouge Real Estate News | Scoop.it
Golf course communities receive increased home valuations from more appraisers overall. There are three types of golf neighborhoods; public, private, and semi-private. Through the examination of variou
Baton Rouge Real Estate News's insight:

This is from a national article: Golf Course Homes Produce Higher Real Estate Values? 
http://sports.yahoo.com/news/golf-course-homes-produce-higher-035200644.html 

Is this true for Greater Baton Rouge?  
In general yes, for communities like Santa Maria, Pelican Point, Beaver Creek and say, Country Club of Louisiana.  I'm not certain about Copper Mill Golf Community. 

NOTE: As long as the golf course remains popular and operational. In Baton Rouge, we've seen some older golf courses shutdown and in 1 case, the old golf course became new subdivisions in the backyards of homeowners that used to have golf course views....Green Trails at Shenandoah.  The Fairwood Estates Subdivision golf course shutdown and is becoming both new residential and commercial uses.  Over time when course get older in age, I'm seeing less of a value push. 

 

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Baton Rouge Cities Where Median Home Prices Increased The Most In 2016 | Baton Rouge Real Estate Housing News

Baton Rouge Cities Where Median Home Prices Increased The Most In 2016 | Baton Rouge Real Estate Housing News | Baton Rouge Real Estate News | Scoop.it
Baton Rouge Cities Where Median Home Prices Increased The Most In 2016
Baton Rouge Real Estate News's insight:

Baton Rouge Cities Where Median Home Prices Increased The Most In 2016

Read more http://www.batonrougehousingreports.com/2016/12/baton-rouge-cities-where-median-home-prices-increased-the-most-in-2016/

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13 things that will trash your Baton Rouge home's value

13 things that will trash your Baton Rouge home's value | Baton Rouge Real Estate News | Scoop.it
REUTERS/Rick WilkingAnything from messy neighbors to ultra-bright paint can destroy your home's value.For many of us, a home is the biggest investment we'll
Baton Rouge Real Estate News's insight:
13 Things That Will Trash Your Home's Value - Business Insider - As A Baton Rouge Home Appraiser, I absolutely agree
 
HOADERS or MESSY NEIGHBORS
There seems to be at least 1 to 3 in each local subdivision now - deadbeats that should live on a rural 1/2 acre in the country with all of their junk instead of in a restricted subdivision. Those that just don't care. I'm not talking about disabled homeowners who can't maintain their yard.
 
After this flood, will all homeowners properly remove junk in yards and turn white front yards from drywall dust back to green yards. I know it will take some time. It's just more difficult now because at the beginning, Parishes were picking up piles of trash. However, post recovery also creates piles of trash needing pickup and that's not always happening in cash strapped Parishes.
 
*BAD SCHOOLS
 
*UNUSUAL COLORS - maybe chartreuse or fluorescent blues
 
*CITY DUMPS, POWER PLANTS & CHEMICAL PLANTS - part of the reason home prices are so low in 70805 & 70807
 
*NOISY NEIGHBORS - it's one thing to have an annual July 4th loud party, once a year. It's another thing to have a loud party a few times per month or that neighbor blaring their music while waxing their car. I saw this in Woodlawn Estates last weekend...neighbors used to be considerate.
 
*REGISTERED SEX OFFENDERS
 
*CERTAIN RENOVATIONS - some homeowners just like over improve...and over improve without knowing they don't know. I like these renovations shows on TV, but they make homeowners go overboard sometimes.
 
*TOO MANY UPGRADES - potential buyers just don't want or have the extra time to maintain these
 
*NOISE POLLUTION
 
 
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Home Equity Wealth Makes a Comeback | S&P Dow Jones Indices - HousingViews

Home Equity Wealth Makes a Comeback | S&P Dow Jones Indices - HousingViews | Baton Rouge Real Estate News | Scoop.it
Home prices have risen significantly throughout the nation since the trough in the housing cycle. Through August 2016, the S&P CoreLogic Case-Shiller Home
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Parc Chaleur in Baker Home Sales 2016 by Baton Rouge Home Appraiser Bill Cobb – Baton Rouge Appraisal Blog

Parc Chaleur in Baker Home Sales 2016 by Baton Rouge Home Appraiser Bill Cobb – Baton Rouge Appraisal Blog | Baton Rouge Real Estate News | Scoop.it
Baton Rouge Real Estate News's insight:

Parc Chaleur in Baker Home Sales 2016 by Baton Rouge Home Appraiser Bill Cobb Blog

http://www.homeappraisalsbatonrouge.com/greater-baton-rouge-real-estate/baton-rouge-real-estate/parc-chaleur-in-baker-home-sales-2016-by-baton-rouge-home-appraiser-bill-cobb/

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Baton Rouge Flooded Gutted Home Sales - What are investors using to buy them?

Baton Rouge Flooded Gutted Home Sales - What are investors using to buy them? | Baton Rouge Real Estate News | Scoop.it
Flooded Gutted Home Sales - What are investors using to buy them?
 
Per GBRMLS right now, of the 102 currently damaged sales, 97 sold as Cash deals or 95%.
 
Info used with permission of GBRAR MLS from 08/20/2016 to 10/31/2016, extracted 10/31/2016.
 
PRE-FLOOD CASH SALES IN 2016?
For ALL GBRMLS sales from 1/1/2016 to 8/12/2016, there were 5,791 sales of which 838 were cash sales. So, 14.5% of all sales were cash sales.
 
Photo Source: Kenny Rushing Facebook post April 9th.
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Greater Baton Rouge Flood – 38 Currently Damaged House Sales Study | Baton Rouge Real Estate Housing News

Greater Baton Rouge Flood – 38 Currently Damaged House Sales Study | Baton Rouge Real Estate Housing News | Baton Rouge Real Estate News | Scoop.it
Greater Baton Rouge Flood – 38 Currently Damaged House Sales Study
Baton Rouge Real Estate News's insight:

Greater Baton Rouge Flood – 38 Currently Damaged House Sales Study

Read more http://www.batonrougehousingreports.com/2016/10/greater-baton-rouge-flood-38-damaged-house-sales-study/

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Baton Rouge’s Great Flood 2016 – How much are investors paying for damaged houses? | Baton Rouge Real Estate Housing News

Baton Rouge’s Great Flood 2016 – How much are investors paying for damaged houses? | Baton Rouge Real Estate Housing News | Baton Rouge Real Estate News | Scoop.it
Baton Rouge’s Great Flood 2016 – How much are investors paying for damaged houses?
Baton Rouge Real Estate News's insight:

Baton Rouge’s Great Flood 2016 – How much are investors paying for damaged houses?

Read more http://www.batonrougehousingreports.com/2016/10/baton-rouges-great-flood-2016-how-much-are-investors-paying-for-damaged-houses/

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Eastland Subdivision Baton Rouge La Home Sales Update 2015-2016 | Baton Rouge Real Estate Housing News

Eastland Subdivision Baton Rouge La Home Sales Update 2015-2016 | Baton Rouge Real Estate Housing News | Baton Rouge Real Estate News | Scoop.it
Eastland Subdivision Baton Rouge La Home Sales Update 2015-2016
Baton Rouge Real Estate News's insight:

Eastland Subdivision Baton Rouge La Home Sales Update 2015-2016

Read more http://www.batonrougehousingreports.com/2016/07/eastland-subdivision-baton-rouge-la-home-sales-update-2015-2016/

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Brookwood Subdivision Baton Rouge Louisiana Home Sales Update 2016 | Baton Rouge Real Estate Housing News

Brookwood Subdivision Baton Rouge Louisiana Home Sales Update 2016 | Baton Rouge Real Estate Housing News | Baton Rouge Real Estate News | Scoop.it
Brookwood Subdivision Baton Rouge Louisiana Home Sales Update 2016
Baton Rouge Real Estate News's insight:

Brookwood Subdivision Baton Rouge Louisiana Home Sales Update 2016

Read more http://www.batonrougehousingreports.com/2016/07/brookwood-subdivision-baton-rouge-louisiana-home-sales-update-2016/

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Bernard Terrace Subdivision Baton Rouge Louisiana Home Sales Trends 2016 | Baton Rouge Real Estate Housing News

Bernard Terrace Subdivision Baton Rouge Louisiana Home Sales Trends 2016 | Baton Rouge Real Estate Housing News | Baton Rouge Real Estate News | Scoop.it
Bernard Terrace Subdivision Baton Rouge Louisiana Home Sales Trends 2016
Baton Rouge Real Estate News's insight:

Bernard Terrace Subdivision Baton Rouge Louisiana Home Sales Trends 2016

Read more http://www.batonrougehousingreports.com/2016/07/bernard-terrace-subdivision-baton-rouge-louisiana-home-sales-trends-2016/

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Wimbledon Estates Subdivision Baton Rouge La Home Sales Update 2015-2016 | Baton Rouge Real Estate Housing News

Wimbledon Estates Subdivision Baton Rouge La Home Sales Update 2015-2016 | Baton Rouge Real Estate Housing News | Baton Rouge Real Estate News | Scoop.it
Wimbledon Estates Subdivision Baton Rouge La Home Sales Update 2015-2016
Baton Rouge Real Estate News's insight:

Wimbledon Estates Subdivision Baton Rouge La Home Sales Update 2015-2016

Read more http://www.batonrougehousingreports.com/2016/07/wimbledon-estates-subdivision-baton-rouge-la-home-sales-update-2015-2016/

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Bromley Townhomes Subdivision Baton Rouge La Home Sales Update 2015-2016 | Baton Rouge Real Estate Housing News

Bromley Townhomes Subdivision Baton Rouge La Home Sales Update 2015-2016 | Baton Rouge Real Estate Housing News | Baton Rouge Real Estate News | Scoop.it
Bromley Townhomes Subdivision Baton Rouge La Home Sales Update 2015-2016
Baton Rouge Real Estate News's insight:

Bromley Townhomes Subdivision Baton Rouge La Home Sales Update 2015-2016

Read more http://www.batonrougehousingreports.com/2016/07/bromley-townhomes-subdivision-baton-rouge-la-home-sales-update-2015-2016/

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Walden Subdivision Baton Rouge Home Prices 2016 | Baton Rouge Real Estate Housing News

Walden Subdivision Baton Rouge Home Prices 2016 | Baton Rouge Real Estate Housing News | Baton Rouge Real Estate News | Scoop.it
Walden Subdivision Baton Rouge Home Prices 2016
Baton Rouge Real Estate News's insight:

Walden Subdivision Baton Rouge Home Prices 2016

Read more http://www.batonrougehousingreports.com/2016/07/walden-subdivision-baton-rouge-home-prices-2016/

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Prepare for Your Baton Rouge Home Appraisal...

Prepare for Your Baton Rouge Home Appraisal... | Baton Rouge Real Estate News | Scoop.it
Prepare for Your Home Appraisal. Getting your home to appraise for the selling price can be nerve-racking for many homeowners – but with the right prepa
Baton Rouge Real Estate News's insight:

Yes, I invite you to read Jon Kolsky's advice: 
http://activerain.com/blogsview/4918769/prepare-for-your-home-appraisal- 

Let me add my advice after 20+ years appraising homes for purchases. 

Yes, homes in pristine, especially updated or renovated condition, sell and appraise to Top Dollar given favorable market conditions! 

Yes, I have my office ask the Listing Agent what comps were used to support the listing price because I want to know and value their insight.  Many Agents "Farm" their neighborhoods and know them more intimately than Appraisers do, which is wisdom I want to tap. 

My estimate is about 75% of the time, Agents do a good job and follow through with their responsibilities. HOWEVER.....

WHEN A HOME DOES NOT APPRAISE, THESE WERE SOME OF THE FACTORS INVOLVED: 

1.) Agent listed the home at the price the seller wanted to list at instead of what the market would support! 

Did the Agent just list at what the seller wanted to list at or was there actual market support? This is key for me to know!!! If the Agent listed at sellers price and has no comps for me, then I'm much less willing to reach for value. To an Appraiser, there's nothing worse that an Agent listing at sellers price versus what the market will actually support, perhaps with a reasonable bump for moving market.

2.) The Agent Simply DID NOT measure their listing, period, to know the true living area size. The Agent may not have even owned the tools necessary to measure that listing (tape, laser measurer, app on phone or tablet). 

Appraiser Measuring Mistakes Can Kill Your Deal? Kolsky claims Appraisers make mistakes on home measurement, which hurts a deal.  I'll hold my tongue as best as I can here. In my local market and assuming a 6% commission based on an average sales price of $220,000 , sellers pay Agents $13,500 to sell their home, no matter how many different ways that commission is split.  AND it's no secret in the real estate industry that Agents are known for NOT measuring their listings, period. I've spoken with Agents in California who say they wouldn't dare add to their liability by stating a "Living Area Size" in a listing and rather just rely on county tax records size. Some new listings in my local market are just copied from old MLS listings or cloned with no guarantee the first Agent got the living area correct. I've seen the first MLS Listing years ago be wrong and then have multiple other Agents copy that lisitng for their new listings.  

THE MOST APPROPRIATE TIME TO KNOW THE TRUE LIVING AREA SIZE OF A HOME IS AT THE BEGINNING OF THE LISTING, NOT AFTER THE DEAL IS UNDER CONTRACT AND THE PARTIES HAVE TO LOWER PRICE BECAUSE OF FAULTY OR NO AGENT MEASUREMENT! 

DID THE AGENT ACTUALLY PHYSICALLY MEASURE THEIR LISTING? Did the Agent actually physically measure the home and was the listing price actually based on an accurate living area size? It's not at all uncommon in Greater Baton Rouge Real Estate for new listing to NOT be measured at all and/or the previous MLS sheet was copied. Several deals I've appraised this year have not appraised because of Listing Agents not professionally and responsibly representing true and accurate living area.

3.) AGENTS DROPPED THE BALL IN THE MLS CMA PROCESS!

The Agents pricing the new listing simply pull a quick MLS CMA (market analysis) and fail to truly read and understand the condition of each comparable used and failed to deduct excessive seller paid concessions. 

As an Appraiser, I've been involved in deals where I'm appraising a home in only FAIR condition yet the Agent CMA they send has "comps" of renovated homes with grossly excessive concessions.  Those Agents don't see the disconnect there and didn't take the time to discover the differences between the home they were pricing and the sales they're trying to use as "comps".  

It's very obvious Agents aren't even looking at the amount of seller paid concessions in sales and are not deducting those concessions, as Appraisers are instructed to do so. 

Is this a market where sellers are paying such ridiculously high $5,000, $6,000, $7,000, $9,000 or $12,000 in sell paid concessions to make deals work...over and over again to where the market is now artificial? Can Agents see how several months of sales where $6k, $8k, $10k and $12k in concessions becomes the norm inflates a market and how damaging that is? Then the next Agent pulls their new CMA for a listing and says "WOW, The market is way up!" when it's actually seller paid concessions driving up prices.

When an Appraiser uses such a comp after the sale, they deduct those excessive seller paid concessions to bring that sale closer to cash equivalency. I don't deduct dollar for dollar and do over $3,000.


When a home doesn't appraise, it can be the over expectation of the seller based on this ridiculous HYPE in our housing markets and then the failure of Agents to properly perform the basics of their profession: actually measure the home they're listing and the professionally price it based on solid facts they've personally studied (instead of relying on 15 to 30 "comps" in a broad MLS Cloud CMA). 

Respectfully, Baton Rouge Bill Cobb Appraiser

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White Oak Trace Subdivision Baton Rouge Louisiana Home Sales Update 2016 | Baton Rouge Real Estate Housing News

White Oak Trace Subdivision Baton Rouge Louisiana Home Sales Update 2016 | Baton Rouge Real Estate Housing News | Baton Rouge Real Estate News | Scoop.it
White Oak Trace Subdivision Baton Rouge Louisiana Home Sales Update 2016
Baton Rouge Real Estate News's insight:

White Oak Trace Subdivision Baton Rouge Louisiana Home Sales Update 2016

Read more http://www.batonrougehousingreports.com/2016/07/white-oak-trace-subdivision-baton-rouge-louisiana-home-sales-update-2016/ 

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Country Ridge Subdivision Baton Rouge Louisiana Home Sales Update 2016 | Baton Rouge Real Estate Housing News

Country Ridge Subdivision Baton Rouge Louisiana Home Sales Update 2016 | Baton Rouge Real Estate Housing News | Baton Rouge Real Estate News | Scoop.it
The home sales trends within Country Ridge Subdivision in Baton Rouge are listed below as a result of research for a 2016 home appraisal.   June 2015 to
Baton Rouge Real Estate News's insight:

Country Ridge Subdivision Baton Rouge Louisiana Home Sales Update 2016 | Baton Rouge Real Estate Housing News

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Curated Baton Rouge Housing News by Bill Cobb, Greater Baton Rouge's Home Appraiser 225-293-1500.
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The Scoop On Baton Rouge Housing by Bill Cobb With Accurate Valuations Group Home Appraisals www.accuratevg.com and Editor of Baton Rouge Housing Reports www.batonrougehousingreports.com . Sign Up For Email Updates Here: http://bit.ly/GRQqsm  .  DROP BILL A NOTE HERE: http://bit.ly/GSvAXd
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Housing Market and Subdivision Updates In Northeast Greater Baton Rouge City of Central incorporated in 2005.  City of Central comprises Baton Rouge 70818, Greenwell Springs 70739, Pride 70770 and Portions of Baker 70714.  Bill Cobb's Appraiser Website is: http://www.batonrougeappraisers.com/ City of Central Baton Rouge Real Estate Youtube Channel https://www.youtube.com/user/centrallarealestate City of Central Baton Rouge Real Estate Twitter https://twitter.com/CentralCtyRlEst Central City LA Homes Pinterest Photos Baton Rouge Greenwell Springs http://www.pinterest.com/billdcobb/central-city-la-real-estate/
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The Scoop On Zachary Louisiana Housing by Bill Cobb With Zachary's Accurate Valuations Group Home Appraisals http://www.zacharylouisianarealestate.info and Editor of Baton Rouge Housing Reports www.batonrougehousingreports.com . Sign Up For Email Updates Here: http://bit.ly/GRQqsm . DROP BILL A NOTE HERE: http://bit.ly/GSvAXd