NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of January 1, 2011 to April 16, 2012. This information was extracted on 04/16/2012. YES, this appraiser does have the permission of GBRMLS to use the chart above Subdivision Price Trends Report!

I recently took an exterior tour of the new Strohmberg Townhomes development, marketed by Charnel Webb Keller Williams Realty Baton Rouge and am presenting these photos. See the Flickr slide show below.

Strohmberg Townhomes Baton Rouge Units for Sale Flyer 2012

I received an email from an out-of-town home renter (they’re from out-of-town but renting locally) seeking to purchase an existing home in Woodridge. I said existing home because approximately 90% of recent home sales in Woodridge recently have been taking place in the new rear filing of new homes. The question was asking what’s a reasonable asking price and/or support for the 2,300sf to 2,400sf existing homes as opposed to the newer homes?

Below I have posted the general home price trends within Woodridge since 2007 with 2011 vs 2012 support increasing from $138.13/sf up to a new historic high of $142.64/sf. And, median sales price increase in 2011 vs 2012 from $329,200 up to $348,000. Marketing time in same period declined from 125 days to 109 days. Home sales do appear to have slowed with only 7 year-to-date as opposed to the 41 that sold in 2012. This could also be bacause of the incredibly high prices being asked for new homes in new rear filing.

Woodridge Existing Home Sales.

Since 07/18/2011, there have been 11 sales between $295,500 to $352,500, between $127/sf up to $146/sf, between 2,262sf to 2,484sf most in the 6-10 year old range. This is a $19/sf variance. These 11 homes sold on average for 97.3% of most revised listing price. See chart below, addresses of homes sold were omitted.

Total # of Listings 11
Lowest Price Listing $295,500
Highest Price Listing $352,500
Average Listing Price $334,991
Average Sold Price $326,045
Avg. Sold Price/SqFt $136.22
Avg. Days on Market 45

NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of January 1, 2007 to April 6, 2012. This information was extracted on 04/06/2012. YES, this appraiser does have the permission of GBRMLS to use the chart above Subdivision Price Trends Report!

With 20 years experience as a Louisiana Home Appraiser and editor of several local housing related websites, Bill Cobb brings a wealth of knowledge and experience to Greater Baton Rouge Housing. From the Greater Baton Rouge Housing Week In Review segment to Greater Baton Rouge Monthly Housing Studies . To Baton Rouge Real Estate Buzz to Denham Springs Housing News . From Ascension Parish Housing News to Zachary La Housing News . From West Baton Rouge Housing News to Videos of Baton Rouge Real Estate News .

From Baton Rouge Market Metrics Subdivision Studies to Baton Rouge Residential Real Estate Trends, Bill Cobb Appraiser is THE SOURCE for Greater Housing News!

Baton Rouge Condominium Market 2011-2012 Correction Brutal. This segment of the market was ripe for such an extended correction based on the froth in this segment.

See the numbers below. Basically, the Average Sold Price declined another $6,900 or -4.8%. The Average Sold Price Per Sq. Ft. declined again $5.21/sf or -4.5%. The Median Sold Price declined another $6,350 or -4.7%. Number of sales decline close to 8%. Average Days on Market increased by 42 days or +40%. AND, the current Pendings have an Average Days On Market of 242 days. Worst of all is that Total Distressed Sales climbed 54 sales or +91.5%.

This chart below was from one of my condo appraisals in late 2011 in 70809, not the entire condo market.

Condo Sales In East Baton Rouge from 2/1/2010 to 2/28/2011 revealed:
Average Sales Price: $142,717
Average Sold Price Per Sq. Ft.: $116/sf
Median Sold Price: $135,300
Number of Sales: 315
Listing-To-Sales Price Ratio: 97%
Average Days On Market: 106
Low To High: $5,000 up to $570,000

DISTRESSED STATS:
Number of Sold REO/Foreclosures Noted In MLS: 33
Number of Sold 3rd Party Noted In MLS: 25
Number of Sold Short Sales Noted In MLS: 1
Total Distessed Sales: 59 or 19%

Condo Sales In East Baton Rouge from 2/1/2011 to 2/29/2012 revealed:
Average Sales Price: $135,817
Average Sold Price Per Sq. Ft.: $110.79/sf
Median Sold Price: $128,950
Number of Sales: 290
Listing-To-Sales Price Ratio: 96%
Average Days On Market: 148
Current Pendings Days On Market: 242 Days
Low To High: $5,000 up to $550,000

DISTRESSED STATS:
Number of Sold REO/Foreclosures Noted In MLS: 52
Number of Sold 3rd Party Noted In MLS: 29
Number of Sold Short Sales Noted In MLS: 32, INCREASE OF OVER 100%
Total Distessed Sales: 113 or 39%

DIFFERENCES IN TWO (2) PERIODS:

Average Sales Price: -$6,900 or -4.8%
Average Sold Price Per Sq. Ft.: -$5.21/sf or -4.5%
Median Sold Price: -$6,350 or -4.7%
Number of Sales: -25 or -7.9%
Listing-To-Sales Price Ratio: -1%
Average Days On Market: +42 Days or +40%
TOTAL DISTRESSED SALES: +54 or +91.5%

NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of Februar 1, 2010 to February 29, 2012. This information was extracted on Sunday 03/03/2012 from GBRAR. Study Completed by Bill Cobb Appraiser and Housing Reporter with Accurate Valuations Group.

Homes in Santa Rosa Subdivision feature sizes from 1410sf up to 1787sf in the approximate $185,000 to $210,000 price range. Ages are approximately 8 years old as this development was built in 2004.

Santa Rosa Subdivision is located in 70810 off Staring Lane near Perkins Rowe and The Mall of Louisiana. The video below shows the various different designs of homes in Santa Rosa Subdivision.

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 Valuation Expert.

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

info@accuratevg.com

http://www.accuratevg.com/

2011 HIGHLAND CREEK
9 HOME SALES
DECLINING MARKET!
MEDIAN $120,900
AVERAGE SOLD PRICE: $92/SF

NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of January 1, 2011 to December 31, 2011. This information was extracted on 01/16/2012.

This week, I was in Cedar Mill Run Subdivision for a Home Appraisal and saw these two lots being prepared for new homes.

2011 Country Manor Home Sales Numbers
Major Declines in 2011
Median $148,000
Average $94.08/sf

2010 Support was in the $154,200 range and $110/sf.

If you are looking to purchase a home in Country Manor, I would strongly recommend a Pre-Listing Appraisal so you don’t overpay for those homes listed in 2012 for $107/sf to $111/sf when 2011 was such an obvious correction and sellers are in denial and listing prices are too high.

http://www.youtube.com/watch?v=sC95DvePkas

Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of January 1, 2011 to December 31, 2011. This information was extracted on 01/16/2012.

Greater Baton Rouge Home Appraiser, Bill Cobb, has been appraising homes or houses now for 21 years, 2 years in the Alexandria LA metro area and 19 years in the Greater Baton Rouge Housing Market. Bill’s specialty is:

Baton Rouge Pre-Purchase Home Appraisals

and

Baton Rouge Pre-Listing Home Appraisals

Accurate Valuations Home Appraisal Group (AVG) Serves The Greater Baton Rouge Metroplex!

With Boundaries North by Zachary, South by Sorrento, West by Port Allen and East by Livingston.

Contact Information:
Accurate Valuations Group (Home Appraisals)
P.O. Box 40515
Baton Rouge, LA 70835
Baton Rouge Office: 225-293-1500
Toll Free: 1-888-678-3544
Toll Free Fax: 1-866-663-6065
Denham Springs Office – Local #: 225-709-6013
Staff Email: info@accuratevg.com
Website: http://www.accuratevg.com/