Denham Springs Louisiana Real Estate Buzz!

Archive for April, 2010

http://www.batonrougerealestatebuzz.com/ - Baton Rouge Real Estate Buzz: The ABC’s of Greater Baton Rouge FHA condo requirements. The Chicago Tribune News takes a look at the comprehensive condo approval process!

As of Feb. 1, associations with two or more units must be FHA-certified before the agency will back a mortgage. The previous policy of allowing one-time, or “spot approval,” for individual units was rescinded.

While it’s not the FHA home appraiser’s responsibility to determine if a condo project is approved for mortgage lending, it is good to know the actual FHA criteria for an approved condo project.

The article is located here and here are some snippets:

“Among the certification criteria:

–All units and common elements must be completely built.

–No single entity can own more than 10 percent or more than one of the units, whichever is greater.

–At least 50 percent of the units must be owner-occupied.

–No more than 15 percent of the units can be more than 30 days delinquent on assessments.

–No more than 25 percent of the total floor area can be used commercially.

–At least 10 percent of the annual budget must go to reserves.

–The right of first refusal is OK as long as it isn’t used to discriminate.

In addition, associations must submit copies of their budget, insurance policy, declaration and bylaws, plat of survey, any management agreement, analysis of outstanding or pending litigation, and minutes from the last two meetings.

Associations can become certified in one of two ways. The first is to wait for an FHA buyer to come along and let the buyer’s lender do the work. Certain lenders, typically the largest ones, are eligible to certify associations under the Direct Endorsement Lender Review and Approval Process, or DELRAP. The association supplies the necessary documents and information.”

To Read the entire article, visit The ABC’s of FHA condo requirements

http://www.batonrougerealestateappraisal.com/ - Louisiana Chinese Drywall Ruling Sets Legal Standard At A Little Over $80 Square Foot.

The link to entire articel is here: http://www.wafb.com/global/story.asp?s=12394620. Snippets of the article are below.

“NEW ORLEANS, LA (WWL) – A Mandeville couple said it was “a huge sense of relief” after a judge ruled in their favor in a landmark Chinese drywall case.

Tuesday, U.S. District Court Judge Eldon Fallon ruled for Tatum and Charlene Hernandez in their suit against Knauf Plasterboard Tianjin, or KPT. Knauf is a German company that manufactured the toxic drywall in China, which has now contaminated the Hernandez’s home off Highway 59 between Mandeville and Abita Springs.

Judge Fallon awarded the Hernandez family $164,000 plus attorney’s costs, which continue to mount. That money is to cover the cost of ripping out the walls and replacing damaged wiring and appliances.

“Because of the Hernandez family,” attorney Russ Herman added, “we now know what you’re entitled to.”

The ruling set the legal standard at a little over $80 a square foot. Attorneys representing the Hernandez family said at a press conference Wednesday, they believe that number can be applied to others with Chinese drywall.

“We believe that this is a solid decision and could be and should be predictably and reliably applied to other properties,” attorney Steve Herman said.

The question now, when will the Hernandez family get the money they need to re-mediate their home? For now, they are living in the home with their two small children. “This drywall manufactured by KPT has stolen so much from us, and we’re just dealing with it the best that we can,” Tatum Hernandez said.“

Tags: Chinese Drywall, Chinese Drywall Rulings, Chinese Drywall Settlements

http://www.appraisersindenhamsprings.com/ – Denham Springs Homes For Sale

Currently, there are “572″ homes for sale in the City of Denham Springs with the GBRAR MLS as of 4/26/2010. Listing prices range from $16,000 up to $2,600,000. Approximately 203 homes are listed at a price under $150,000.

To Search Denham Springs Homes For Sale, click below and visit to right side in the middle for “Search Local Real Estate For Sale or Rent”

Tags: denham springs, denham springs homes, denham springs homes for sale, denham springs houses, homes in denham springs, denham springs realtors, denham springs housing, homes for sale in denham springs, denham springs subdivisions, houses for sale in denham springs, greystone country club denham springs, juban parc denham springs, denham springs realtor, denham springs real estate agents

http://www.batonrougerealestatetube.com/ – Greater Baton Rouge Home Appraisers Photos From The Field: One Of The Finest Porches In Baton Rouge

In my opinion and after 18 years as a residential appraiser, this is one of the finest porches I have witnessed, certainly one of the largest. This home is located somewhere in the Greater Baton Rouge housing market and this porch measured exactly 900 sq. ft.. The porch is new, an addition after the Hurricane Gustav damage in 2008. Enjoy the photos.

http://jubanparcappraiser.com/ – Denham Springs Juban Parc Housing Report Through March 2010

NOTE: Based on Detached Single Family information from the Greater Baton Rouge Association of REALTORS\MLS for the period 01/01/2009 through 03/31/2009 versus 01/01/2010 to 03/31/2010. There were 4 home sales in each period, which is why the % of Sales states “0″. This information was extracted on 04/21/2010.

Sphere: Related Content

http://www.denhamspringsappraisers.com/ – Livingston Parish Homes Sales Report For March 2010. Below are compiled comparisons of Livingston Parish, MLS Areas 80, 81, 82 and 83, Detached Single Family Homes, based on March 2010, February 2010 and March 2009 numbers.

By Monthly Home Sales Comparison. March Monthly Sales were 87 home sales. For February 2010, there were only 77 sales, which represents a March increase of 13%. Comparison of March 2009 vs. March 2010? There were 90 sales in March 2009, which means a small decrease of 3%.

By Average Sales Price Comparison. Average Sold Price was $159,377. Comparison to February 2010: Decreased slightly 1% from $160,746. Comparison of March 2009 vs. March 2010: Decreased 5.76% from $169,115.

By Median Sales Price Comparison. (Which This Appraiser Believes Is A Much More Accurate Indicator). Median Sold Price was $150,000. February 2010 was also $150,000. Comparison of March 2009 vs. March 2010: Decreased 3.54% from $155,500.

Current Inventory or Number Of Homes On The Market. Current “Months Inventory” is 7.59 months. In February 2010 it was 8.35 months, which means we’re better in March 2010. In March 2009, there was a 6.24 months supply.

Average Time It Took To Sell A Home? In March 2010, it took 110 days. In February 2010 it took 106 days and in March 2009 it took 91 days.

What Price Range Had The Most Home Sales? In March, the price range experiencing the most sales was the $130,000 to $139,999 range. Same for February 2010 as well. And, same for March 2009 as well.

NOTE: Based on Detached Single Family Solds in MLS Areas 80, 81, 82 & 83 information from the Greater Baton Rouge Association of REALTORS\MLS for the period 03/01/2010 through 03/31/2010. This information was extracted on 04/21/2010.

http://www.accuratevg.com/ – Greater Baton Rouge Named Second Best Economic Development Market!

The Baton Rouge Business Report AM is delivering Great News for the Greater Baton Rouge housing market. The link to the article is here!

Here’s the good news:

“Baton Rouge is ranked second by Southern Business and Development magazine among the top 10 mid-markets of the decade, based on the amount of new and expanded project wins over the last 10 years. Some of the notable projects in the top-10 issue include: Albemarle, Electronic Arts, SNF Holding Company and The Shaw Group. Project wins that affected rankings must have consisted of 200 or more jobs and/or $30 million or more in capital investment. Huntsville, Ala., was the only city to top Baton Rouge.

Baton Rouge was also ranked third-best metro area in economic development in 2009 by Site Selection magazine.

Adam Knapp, BRAC president and CEO, says he attributes the area’s success to the chamber’s “Campaign for a Greater Baton Rouge.” The Southern Business and Development Story can be found here.“