Denham Springs Louisiana Real Estate Buzz!

Archive for May, 2011

Two Lots For Sale In Greater Baton Rouge Active Lifestyle Community With Golf, Tennis and Swimming. Denham Springs Golf Course Lots 12 and 13 For Sale In the Active Lifestyle Greystone Golf Community.

Lot 12 is appoximately 0.36 Acre with 91.84′ of frontage and backs up to the Golf course. Lot 13 is appoximately 0.37 Acre with 100′ of frontage and backs up to the Golf course.

About Greystone Golf. Greystone Golf Community is active lifestyle. An exceptional 350 acre community of single-family homes and town homes located on a championship golf course setting in Denham Springs. Homesites are located with golf course and lake views providing beauty, remarkable convenience and outstanding public schools. Active lifestyle theme includes Golf, Tennis, Pool and Clubhouse. Your Greystone home is the special place you have been looking for.

Clubhouse

Putting Green

Pool

Tennis and Basketball Courts

Golf Course

Luxury Home

Lot 12, Greystone Golf Community

The Homes Adjacent To Lot 12

Lot 13, Greystone Golf Community

This lot is professionally marketed by Darren James Real Estate Experts.

http://www.agent225.com/ - Greater Baton Rouge Championship Golf Course Lot in Denham Springs For Sale In Active Lifestyle Greystone Golf

Lot 13 is appoximately 0.37 Acre with 100′ of frontage and backs up to the Golf course. Enjoy the video below or here: http://youtu.be/XNdnTde5ZRo

Homes Near Lot 13!

About Greystone Golf. Greystone Golf Community is active lifestyle. An exceptional 350 acre community of single-family homes and town homes located on a championship golf course setting in Denham Springs. Homesites are located with golf course and lake views providing beauty, remarkable convenience and outstanding public schools. Active lifestyle theme includes Golf, Tennis, Pool and Clubhouse. Your Greystone home is the special place you have been looking for.

For Details, Visit: http://www.agent225.com/homes/25761-Wax-Rd/13985496/?index=13

This lot is professionally marketed with Darren James Real Estate Experts.

http://www.agent225.com/ - Championship Golf Course Lot in Denham Springs For Sale In Active Lifestyle Greystone Golf

Lot 12 is appoximately 0.36 Acre with 91.84′ of frontage and backs up to the Golf course. Enjoy the video below or here: http://youtu.be/XNdnTde5ZRo

Homes Adjacent Lot 12!

About Greystone Golf. Greystone Golf Community is active lifestyle. An exceptional 350 acre community of single-family homes and town homes located on a championship golf course setting in Denham Springs. Homesites are located with golf course and lake views providing beauty, remarkable convenience and outstanding public schools. Active lifestyle theme includes Golf, Tennis, Pool and Clubhouse. Your Greystone home is the special place you have been looking for.

This lot is professionally marketed with Darren James Real Estate Experts.

Motivated Seller In Denham Springs, Newer 3 Bedroom For $122,500 12203 Sundown Drive Rolling Meadow

Affordable 3 bedroom 2 bath home located just minutes from Denham Springs and the Town Of Walker. This home is also close to schools. The dining area has a cathedral ceiling with an arched window and opens onto the large living room. The living room has laminate wood flooring and a wood burning fireplace. The kitchen has ceramic tile flooring and an abundance of cabinets. The master bath is spacious and has a door that gives access to the large backyard. Click below for Details.

Marketed by Darren James Real Estate Experts. At the website link above, search “Sundown” for the details of this listing.

Tags: denham springs homes, denham springs homes for sale, denham springs houses, Denham Springs Real Estate, denham springs real estate agents, denham springs realtor, denham springs realtors

http://www.denhamspringsrealestateminute.com/ – Denham Springs House Appraisers: Rolling Meadow 2011 Update.

Since the Federal Tax Credit Expiration in May 2010, the number of home sales in Greater Baton Rouge has continued to decline. This is also the case with the Denham Springs market as well as in Rolling Meadow Subdivision, with only 2 home sale2 in the first 5 months of 2011 (as of 5/28/2011).

Entrance

Homes In Rolling Meadow Subdivision

A Pat Wattam Listing @ 24537 Fairweather Drive

A Tracy Wempren Listing @ 12237 Bell Meadow

A Foreclosure @ 12270 Bell Meadow

A Darren James Listing @ 12203 Sundown Drive

HIGHLY MOTIVATED SELLER Based on $122,500 Listing Price

Juban Parc Junior High School Adjacent To Rolling Meadow Subdivsion

A recent analysis of Rolling Meadow Subdivision revealed this interesting finding. From 2008 to 2011, the median sales price has continued to remained in flux. From 2008 to 2011, the median sales prices have varied from $155,750, $157,500, $139,900 and in 2011 it’s currently $161,450 BUT based only on 2 sales at $109/sf average. However, one of the 2011 sales was extremely high, $173,000 for only 1,487sf located with lake view, newer roof, several extras plus $4,000 in seller paid concessions. So, this 1 sale does skew the numbers upward a bit. The other 2011 sale was a more normal $149,900 for $1,483sf or $101/sf and was not a distressed sale. The Chart Below presents a history of sales.

CURRENT LISTINGS. There are 5 current listings from $122,500 to $168,900 with ALL 5 active, none pending. The Average Listing Price per sq. ft. is $104.27/sf.

NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of January 1, 2008 to May 28, 2011. This information was extracted on 5/28/2011. YES, permission was granted by GBRMLS to use Subdivision Price Trends Chart Report!

ABOUT DENHAM SPRINGS LOUISIANA HOME APPRAISERS:

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 appraiser.

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
Fax: 1-866-663-6065
info@accuratevg.com
http://www.accuratevg.com/

http://www.12525timberwooddrive.info/ - Attention Denham Springs Home Buyers: Home for Sale at 12525 Timberwood Drive in Lakes At Fennwood LA 70785

Darren James Real Estate Experts has a new listing of a four bedroom home with a partial lake view in The Lakes At Fennwood Subdivision in Walker Louisiana.

Offered at $189,900
4 bedrooms, 2 bathrooms
Approximately 1,800 Square Feet

According to Mr. James, he says of his new listing, “Unbelievable Value! A Beautiful Spacious 4 bedroom 2 bath Home with 1809 sq ft of living area on a generously sized 80×200 foot lot. You’ll love the open kitchen/breakfast/dining area with it’s abundance of cabinets and counter space. The living room is graced with a brick fire place with gas burning logs and built-in bookcases on each side. The builder added some charm to the living room by adding 2 wood columns in the living room separating it from the kitchen and dining areas. The huge master bath off the elegant master suite features a jetted whirpool tub, separate shower, his and her vanities, and a large walk-in closet. The exterior of the home has excellent curb appeal with it’s beautiful landscaping, partially fenced yard and view of the lake.”

To see all of the photos and details, please visit our featured listing site, http://www.12525timberwooddrive.info/ and view the video here: http://www.youtube.com/watch?v=0mEBov5CB9M . For more information about selling a home in Greater Baton Rouge, contact our expert team of Darren James Real Estate Experts!

Darren James Real Estate Experts, LLC separates itself from the competition through a commitment to excellent service. Darren and his team are perfectionists when it comes to marketing homes and saving our buyers as much money as possible. The core of our team is our administrative staff that handles the details of the transaction. It is our team philosophy of creating raving fans that allows us to offer exceptional customer service and outstanding results unlike any other found in the area

Can Denham Springs Real Estate Agents Talk To Home Appraisers During A Purchase Appraisal? In short, they absolutely can!

HVCC was retired yet the policies it set in motion remain in motion. Now, Dodd-Frank’s Appraiser-Independence Legislation is the rule of the day and there is a lot of confusion out there between both Home Appraisers and Real Estate Agents on communication! I just had an Agent this week contact me complaining about an Appraiser that came in short on an appraisal because the Appraiser didn’t understand the home on the river had 2 boat slips instead of just 1. This Agent didn’t understand that he could have spoken with the appraiser at the beginning to clear all facts up about this property.

The November 8, 2010 article in Live Valuation Magazine written by Larry Disney, Change to Appraisal and Appraiser Regulation Has Arrived – Are You Ready? sheds some light on this topic. The language in the new Dodd-Frank legislation appears to help the communication process between Agents and Appraisers and Sellers and Borrowers. For example, in this article, Mr. Disney states,

“The above language is not meant to imply that mortgage lenders, mortgage brokers, mortgage bankers, real estate brokers, appraisal management companies, employees of appraisal management companies, consumers, or any other person with an interest in a real estate transaction cannot ask an appraiser to consider additional information, including comparable sales; provide further detail, substantiation, or explanation for an opinion of value; and correct errors in the appraisal report.“

It sounds to me like Agents can communicate with home Home Appraisers.

I asked two (2) nationally known Home Appraisers these questions below:

At what point can the RE Agent talk to the appraiser regarding the purchase appraisal?

*When the initial appraisal inspection is setup?
*After the appraiser has inspected the property?
*If only at the initial setup, then can that agent provide their comps / support then to avoid an appeal later?
*What’s your policy or understanding on this?

*Was I wrong in what I’ve told this agent that asked me below:

I as an appraiser have always considered there to be 3 Real Estate Professionals in the deal: Listing Agent, Selling Agent and Appraiser. To avoid appeals, I ask for the Agent’s comps at the time I set the inspection up. Some Agents are offended that I do this because they take it as if I’m questioning them. I’m not questioning, just trying to give them their opportunity to “talk” to the appraiser before I go out for the inspection and avoid an appeal later. I think you should be proactive with Appraisers and take as much control of your deals as possible……and that’s done initially when the appraiser calls to set up the appraisal inspection. It’s a myth that Agents can’t talk to Appraisers, it’s just that the communication must take place before the appraiser inspection and not after the inspection.

Their two (2) responses I received are below:

In summary, one Appraiser stated that there has been a lot over reaction and that they try to talk to the Agents of most deals. If a value issue arises, the appraiser said he contacts them for their data, which could be before or after the inspection, without letting on that there is a value issue.

Washington State Appraiser, Dave Towne, Said:

“I’m with you on this. I sometimes will ask agents for their ‘cma’, saying “I want to be sure I understand how you priced this property at the time of listing. I want to be sure I don’t miss any properties that you may have considered.” I do this when I determine the price is too high based on comps I pre-research prior to inspecting.

Often, they don’t even have those in their file, and just provide listings at inspection time that support the price, but that are not necessarily comps from our perspective.

An appraiser has to be careful about accepting carte blanche properties provided by someone financially connected to the deal. But I don’t think trying to understand the preliminary pricing process is out of line. However, after the inspection and the report is complete/submitted, that’s not the time to complain – especially if the agent was uncooperative at the start.

We are supposed to ‘verify’ every sale. That involves communication with the players involved prior to report completion. Unfortunately agents sometimes have an adversarial attitude, and appraisers don’t do an effective job discussing this. I think you do, based on your info.

And anyone connected to the assignment can discuss aspects of the property with the appraiser in advance of report submittal, as long as there is no attempt to influence the value.”

What does the Home Appraiser’s Client Instructions Say About This Topic – The AMC’s or Appraisal Management Companies?

I reviewed three (3) recent appraisal orders for home purchases. These Appraisal Orders were 8 pages, 3 pages and 4 pages in length. None of these orders stated the Appraiser couldn’t communicate with the Agent. Two sets of the instructions read,

“Purchases require that you review the sales contract and state in report that contract was reviewed. Obtain contract from Agent/Contract or Contact AMC for help. Contract must be fully executed.” Fully executed means the contract must have ALL signatures or you the Agent hold up the deal!

“For Purchase transactions, if AMC does not provide you with the sales contract governing the transaction, you must contact us or the borrower/REALTOR to obtain it.”

Conclusion. It appears from ALL sources reviewed that Agents can communicate with Appraisers during a purchase transaction. My advice as a Home Appraiser is to provide the Appraiser with a list of relevant features, upgrades, your Sketch showing your measurements and a list of your supportable comps used to market the property. By providing your comps up front, you are avoiding an appeal after the appraisal is completed, which will also help speed the closing process.

Why Did I just state, “your Sketch showing your measurements”? Because in the month of May in my market, one deal did not appraise and another deal was very, very close simply because the Agents either did not measure the homes, simply copied a previous incorrect MLS listing or measured them incorrectly per the National “ANSI” Standards. The MLS Listings were incorrect by 173sf and 215sf. The 173sf error was in a market where homes were selling in the $121/sf range. If you have your own sketch, you can be sure that your listing is the right size, priced properly and be less questionable in terms of the appraisal.

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 appraiser.

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
Fax: 1-866-663-6065
info@accuratevg.com
http://www.accuratevg.com/