Denham Springs Louisiana Real Estate

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 The previous policy of allowing one-time, or “spot approval,” for individual units was rescinded.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”

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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.