2010 Foreclosure Sales Numbers: Livingston Parish Foreclosure Trends

http://www.denhamspringsappraisers.com/ – Livingston Parish Fore closure Trends: 2009 2010 Foreclosure Sales Numbers!   2010 Foreclosures total 13% of sales YTD; 2009 Foreclosures totaled 9%, an increase of +2% since 2009.   7% of all Livingston MLS Listings are Foreclosures!  Foreclosures are negatively impacting this market.   There’s A Major “Caveat” with the numbers below!   

2010 Foreclosure Sales Numbers: Livingston Parish Foreclosure Trends

 

The chart below represents the number of recorded Livingston Parish REO or Foreclosure Sales within the Greater Baton Rouge MLS, with the exception of Manufactured Housing sales.  GBRMLS Areas for Livingston Parish are 80, 81, 82 and 83.  

2010 Foreclosure Sales Numbers: Livingston Parish Foreclosure Trends

 

Let’s put these foreclosure numbers into perspective!  In 2009, there were a total of 1,193 sales.  103 foreclosure sales in 2009 represents 9% of total sales.  In 2010, there have been a total of 877 sales.  113 foreclosure sales in 2010 as of 9/30/2010 represents 13% of total sales.  The projected number of reo / fore closures at end of 2010 is approximately 143.

There’s A Major “Caveat” with the numbers below!  Based on a 13% REO sold rate, which does appear to be an indication REOs are negatively impacting this market.  It’s also stated here that an article (The Landmines Within by Michael Tarabotto http://activerain.com/blogsview/930436/The-Landmines-Within ) stated that as much as 70% of REOs never make it into the MLS – Meaning that it might be impossible to know or state the exact # of competing REOs if they’re not being listed and that the foreclosure problem could be larger if up to 70% of REOs aren’t being listed.  MLS is reporting 71 current REO listings for all Livingston MLS Areas out of a total 962 total listings.  So, 7% of all Livingston MLS Listings are Fore closures!  

REO is “Real Estate Owned”!

2010 Foreclosure Sales Numbers: Livingston Parish Foreclosure Trends

 

Data used with permission of the GBRMLS.  Search dates are 1/1/2009 to 10/16/2010.  Extraction date was 10/16/2010.    

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About Bill Cobb, Appraiser

The Baton Rouge Residential Appraisal Blog is an information source provided by local Home Appraiser, Bill Cobb, and Accurate Valuations Group. Bill has 24 years experience as a Baton Rouge Residential Home Appraiser and updates his local network of sites weekly with reports, videos and audio reviews of local housing market conditions! 225-293-1500