Denham Springs Louisiana Real Estate Buzz!

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http://www.denhamspringsappraisers.com/ – Denham Springs Home Appraisers: Summerfield Sudivision 2010 Price Trends Report!

NOTE: If you are considering purchasing a home in Summerfield Subdivision and don’t want to pay too much, I would advise one to order a “Pre-Purchase Appraisal” from Accurate Valuations Group as there is a gradual and steady decline of home prices in Summerfield since 2007 meaning one shouldn’t overpay for a home in Summerfield. REO or Foreclosure and Short Sales activity is increasing in Summerfield in 2010 and into 2011 as this appraiser just this week appraised a foreclosure on Summerfield Drive.

And, there is one (1) listing in Summerfield that is now pending and the listing history of this home brings the declining home prices to my attention. This is a nice 1,813sf home in good condition now listed at $170,000. This home was originally listed for $209,900 in 7/2010 and reduced to $199,900, $195,000, $189,000, $185,000 and now $170,000. It took 148 days on the market to sell this home. If this home sells for $170,000 for an 1,813sf, that would be a new benchmark low for 1813sf in this market. YES, this is a “Short Sale”, however, the market didn’t want this home at these high listing prices whether a short sale or not!

Solds In Summerfield Subdivision from 1/1/2010 to 12/31/2010 revealed:

Average Sales Price: $192,380 ($216,500 in 2009)
Avg Sold $ Per Sq. Ft.: $98.58/sf ($101.11/sf in 2009)
Median Sold Price: $189,500 ($208,000 in 2009)
Number of “MLS” Sales: 5 (4 in 2009)
Average Number of Days On Market: 103 (154 in 2009)
Low To High: $168,000 to $221,500 or $82/sf to $109/sf
Number of Sold REO/Foreclosures Noted In MLS: 1
Current # Listings: 1, 0 Are Foreclosures
Current Listings Price: $170,000 or $93.77/sf.

NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of January 1, 2009 to December 31, 2010. This information was extracted on 1/10/2011. Yes, this appraiser has obtained permission from GBRAR MLS to use the above pricing chart!

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

http://www.batonrougerealestatebuzz.com/ – Baton Rouge Real Estate Buzz: How To Straighten A Photo Free With Windows Live Photo Gallery! In this video, Home Appraiser Bill Cobb shows how he straightened a photo for a blog post.

Windows Live Photo Gallery allows one to share photos and videos online, find the photos you’re looking for and make photos look great! And, it’s FREE!

Windows Live Photo Gallery 2011 Description: “Import photos from your camera, organize them into albums, and edit them so they look their best. Use powerful photo tools to create stunning panoramas, movies, slide shows, and more. When you’re ready to share, publish your photos and videos to your favorite websites like Facebook and Flickr directly from Photo Gallery.” Source: http://explore.live.com/windows-live-photo-gallery?os=other

Actually, I downloaded 6 more plugins that will allow me to upload directly to Twitpic, Facebook, Multiply, Auto Collage, Smugmug and Digital Frame.

http://www.batonrougerealestateappraisers.net/ – Tremendous Opportunity in Greater Baton Rouge Pre-Foreclosures – Buyer Beware!

Tremendous Opportunity in Pre-Foreclosures – Buyer Beware! This was an email I received today and found the advice helpful!

“Real estate professionals, investors, and others that know a good opportunity when they see one, realize that today’s real estate market holds tremendous potential for helping them to reach their financial goals. If you’re thinking about jumping into this market, it’s important that you do your homework before investing, to ensure that you’re as happy after your purchase as you were before. Here are some pitfalls to avoid if you’re thinking about jumping into today’s market.

Don’t Get Loan Pre-Approval – One of the fastest ways of failing with a pre-foreclosure investment is by having no clear idea of how you’ll close the deal. Lenders want to know that they’re dealing with legitimate buyers. One of the best ways of establishing credibility with the lender in a pre-foreclosure property is to know how much you can spend. This will also allow you to pull the trigger quickly once the lender says it’s a go, which is critically important for lenders that need to move quickly.

Avoid Getting Accurate Comps – Comps – also known as comparative values – are used by potential buyers and lenders in establishing the actual value of a property. If your comparative values are flawed, you might overpay for the property, and not know it until it’s too late. Determining property value is somewhat formulaic; plug in the wrong number and the results are as deeply flawed as any politician.

Invest in High-foreclosure Areas – One of the quickest ways to get in over your head with pre-foreclosures is by investing in high-foreclosure areas. While the prospect of multiple properties in a given neighborhood might have some appeal, a closer examination of the facts shows that this is a bad investment strategy for one very good reason: too many foreclosures can mean that property values are going to decline even more, leaving you in control of a property that is worth less than you paid for it.

Guess at Repair Costs – This sounds like a no-brainer, but some investors have purchased real estate site unseen. With better market conditions, it might have made sense, but in today’s environment, you must know what your repair costs will be. Pre-foreclosures have a higher incidence of deferred maintenance and other repair issues, but in most cases, you can inspect the property prior to making a purchase decision. Take advantage of this opportunity, and accurately estimate repair costs. You’ll be in a better position to make a decision as to whether you want to move forward once you’re armed with the facts.

There are no guarantees when buying pre-foreclosures. This type of investment is relatively simple: Locate pre-foreclosure properties, negotiate a short sale (or other purchase) transaction with the borrower and their lender, close the deal, and either hold it for cash flow and potential appreciation or sell it for a quick profit (assuming you can buy it at a price that permits a fast re-sale at a good price). But to find pre-foreclosures, you need information, the kind you can find at www.defaultresearch.com“

http://www.denhamspringsappraisers.com/ – Denham Springs Real Estate Appraisers: Why do some houses sit on the market while others sell?

Here’s an interesting video by Jay Papasan, an executive of Keller Williams Realty. We see “Jay” on the month “This Month In Real Estate US: November 2010″ videos on YouTube. In this video, Mr. Papasan explains why some houses just sit there on the market while others sell, which is an appropriate topic for locals now that the expiration of the Federal tax credit means a lot homes locally are just sitting.

I thought his explanations were helpful explanations. The visual displays of these concepts of his x/y axis were helpful as well.

I’m curious to hear the experience of both home owners and real estate agents as to what if Mr. Papasan is explaining is reality locally? Any ideas on what it would take for homes to sell faster? Are locals just waiting for a bottom before buying or is there something more going on in their psyche – more of a concern about what’s taking in Washington, DC than a concern for the Baton Rouge economy maybe?

You can follow Jay Papasan on Twitter at @jaypapasan, and on Facebook @ http://www.facebook.com/jaypapasan . Mr. Papasan is also coauthor of The Millionaire Real Estate Agent, The Millionaire Real Estate Investor & SHIFT.

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http://www.batonrougerealestatebuzz.com/ – More Details Released About Baton Rouge Metro Areas First Video Real Estate Listings Website – brhomelistings.com!

On September 8th, Buzz delivered to you news about the Metro Areas “First” Video Real Estate Listings Website here: Baton Rouge Real Estate Buzz: Metro Areas First Video Real Estate Listings Website – brHomeListings.com! At that time, the only details Kevin DeLaune, with RealtyStudioHD, would offer was that the site would be launching in the near future and “brHomeListings.com is Baton Rouge’s first local real estate website to incorporate video as an essential component in real estate marketing online!”

The following details below were released from brhomelistings.com just prior to site launch. This will be a “beta version”. Kevin stated that, ” In the near future, as we continue to grow and receive feedback, there will be many more features added.”

“At launch, some of the site’s key features will be:

• Free listing insertion ( no charge to submit listings into the search engine )
• Free video embedding of user created video tours or professional video tours
• Free unlimited photo uploads
• Unified FSBO and Agent listing search
• Advanced single touch search to accommodate new touch-based mobile devices
• The ability for buyers to “watch” listings for price drops
• Management of the user’s submitted and “watched” listings will be via a familiar mlooking youtube-esque management system
• Listing pages will employ automatic google maps based geo-location by listing address
• Realtors can integrate their twitter accounts for automatic tweets of new listings to their twitter feed
• Realtors can create an exclusive non-competitive ( no competing realtors or ads ) “Realtor Spotlight” page with full listing search capabilities of the realtor’s active listings”

Buzz Perspective. From the Buzz perspective, the addition of video listings to the Greater Baton Rouge Real Estate landscape will be greatly welcomed by locals that start their search for their new home online. Instead of getting in the car and driving to a dozen homes on a Saturday with an Agent, now locals will be able to narrow their home purchase focus rather quickly!

And, from what Buzz has heard about this new site, it’s going to be highly intuitive in terms of navigation (ease of use) and is being built by Khris Woodring, a perfectionist that doesn’t want to launch, and has delayed the initial launch, to make sure the site operates perfectly. According to Kevin, there has been months of behind the scenes research into the site design, functionality and testing. This isn’t just going to be another local flash-in-the-pan FSBO site. This is going to be THE state-of-the-art Baton Rouge Home Listings site to be listed on!

A Site Built For Favorable Google Indexing and Search! It won’t take long for this site to gain traction with locals and with Google because Google loves to index “Video” for search, which is one reason why Google owns YouTube! Home listings which include indexable video will receive better attention in the search engines.

http://www.jubanparcappraiser.com/ – Denham Springs Home Appraisers: Juban Parc Housing Numbers For September 2010

Solds In Juban Parc from 1/2010 to 9/27/2010 revealed:

Average Sales Price: $159,943
Average Sold Price Per Sq. Ft.: $102.49/sf
Median Sold Price: $141,900
Number of Sales: 21
Low To High: $137,500 to $235,000
Average Days On Market: 103
Number of Sold REO/Foreclosures Noted In MLS: 0
Current # Listings: 13, 1 Foreclosure
Current Listings Prices: $138,900 To $239,900

NOTE: The 2009 Average and Median Sales Prices were $175,007 and $175,450.

The data within this report is used with the permission of the Greater Baton Rouge Association of Realtors, extracted on 9/27/2010 from periods 1/1/2009 to 9/27/2010.

http://www.batonrougerealestateminute.com/ – Western Livingston Parish Home Appraisers Video: Easterly Lakes 2010 Update. Western Livingston Parish Home Appraiser, Bill Cobb, updates the housing market numbers for Easterly Lakes Subdivision in Watson Louisiana 70706.