Denham Springs Louisiana Real Estate Buzz!

Archive for the ‘Denham Springs New Homes’ Category

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.denhamspringsappraisers.com/ - Western Livingston Parish Home Appraisers: August 2010 Market Data

The August 2010 housing numbers are in from the Greater Baton Rouge Association of Realtors from 8/1/2010 to 8/31/2010 and from 8/1/2009 to 8/31/2010, extracted on 9/16/2010. Property type searched was DSF or Detached Single Family Only.

Livingston Parish August 2010 Market Data
(For MLS Areas 80, 81, 82 & 83)

Total Monthly Sales: 56 (Lowest Number Of Sales In Period)

Average Listing Price: $164,295 ($162,914 in 8/2009)
Average Sold Price: $161,018 ($160,232 in 8/2009)
Median Sold Price: $140,900 ($152,500 in 8/2009)
Average Days On The Market: 92 (85 in 8/2009)
Listing To Sales Price Ratio: 98% (98.3% in 8/2009)
Current Inventory: 811 (703 in 8/2009)
Months of Inventory: 14.5 (Longest In Period, 5.9 in 8/2009)

Annual View From 8/2009 to 8/2010:

Total Monthly Sales: 1210

Average Listing Price: $167,849
Average Sold Price: $164,948
Median Sold Price: $152,147
Average Days On The Market: 90
Listing To Sales Price Ratio: 98.3%
Average Current Inventory: 719
Average Months of Inventory: 7.1

Accurate Valuations Group’s “MARKET WRAP”:

NUMBER OF HOME SALES DECLINES. Based on these numbers, home sales are slowing considerably from 120 in August 2009, 109 in June 2010, 83 in July 2010 to just 56 in August 2010, a decline of -53% since August 2009.

LOCAL HOUSING INVENTORY SWELLS. With the number of home sales declining, this resulted in an increase to over 14 months of inventory. The good news is that in August, it still took an average days on the market of 92 days to sell a home.

MEDIAN SALES PRICE DECLINE. The median sales price declined sharply from $152,500 in August 2009, $149,000 in June 2010, $155,000 in July 2010 to just $140,900 in August 2010, a decline of -7.6% since August 2009. This shows that this market continues to favor the more affordable housing options over that of the higher end homes market. Area home builders have reacted and are building smaller homes to accomodate this market demand.

WHY WE USE MEDIAN SALES PRICE OVER AVERAGE SALES PRICE? NOTE: Why Median Sales Price is a better indicator than Average Sales Price! Median Sales Price is the barometer by which the National Association of Realtors uses to report on national housing markets. Average Sales Price tends to take all of the home sales prices from the lowest, say $50,000, to the highest, say $1,000,000, and state the average of them all, sometimes skewing the numbers because of the extreme highs and lows. Median Sales Price tends to focus more on the middle of where the bulk of home sales prices are taking place. Generally, the Average Sales Price is going to be higher because it includes the extreme high sales prices in a given market.

http://www.batonrougerealestatebuzz.com/ – Baton Rouge Real Estate Home Sales: Highs and Lows For September 7, 2010

Rebekah Allen, with the Baton Rouge Business Report, has an update on Baton Rouge home sales as published on September 7, 2010 and quoted below:

“After several months of hoping that the worst had passed in the fragile housing market, the real estate industry experienced record-breaking lows in July.

Experts blamed the historic decrease on the expiration of the homebuyer tax credit and mounting evidence that the economy isn’t ready to rebound.

According to the National Association of Realtors, existing home sales in July dropped 25.5% from the previous year. New home sales plummeted 32.4% from the previous year.

The Capital Region was not immune to the downward trend. July home sales dropped 24.4% in East Baton Rouge Parish from the previous year, 30.6% in Ascension Parish, 25.4% in Livingston Parish and 45.8% in the other parishes, including Iberville, West Baton Rouge, and East and West Feliciana.

But there was some good news, particularly in the neighboring parishes.

Home sales for the first seven months of this year have increased 11.6% in Ascension over the same time period one year ago, 17.3% in Livingston and 33.9% in the other parishes. East Baton Rouge Parish, however, has reported a 6.3% decrease.

Ashley Greer, team leader for Keller Williams Realty in Denham Springs, says her location has seen 38% more business this year than last, and she’s confident that the momentum will continue through the rest of 2010.

“We’re just one exit outside of Baton Rouge,” she says. “You get all of the amenities of a big city without having to pay as much for it.”

Greer adds that home-owners are attracted to the strong school system in Livingston.

“Livingston schools are continuing to build. We have some of the best schools, so parents don’t have to send their kids to private schools,” she says. “Everything we’ve increased our tax dollars to pay for is paying off.”

Appraiser Bill Cobb says Livingston Parish is attracting buyers with affordable price points. He says the bulk of new home sales occurred in the $120,000 to $169,900 range.

The average sale price in July was $197,076 in the Capital Region, down from $203,735 one year ago.

“Builders keep asking, ‘When is the market coming back?’ which is the wrong question,” Cobb says. “The right question should be, ‘How can I deliver a product that locals can better afford?’”—Rebekah Allen”

The Link Is Here: http://www.businessreport.com/news/2010/sep/07/startup-gnit1/

Tags: Baton Rouge Homes, Baton Rouge Homes For Sale, Baton Rouge Housing, Baton Rouge Housing Market, Baton Rouge Real Estate, Greater Baton Rouge Real Estate

http://www.denhamspringslarealestate.net/ – Will Half Of Denham Springs Homebuyers Who Claimed 2009 Tax Credit Have To Repay The Government?

There’s a new report out by CNNMoney.com and eCreditDaily.com that says 950,000 Taxpayers Must Repay Homebuyer Tax Credit according to the U.S. Treasury. Read the entire articles at the links above. Buzz is providing a few snippets below.

CNNMoney.com states, “Nearly half of all Americans who claimed the first-time homebuyer tax credit on their 2009 tax returns will have to repay the government. According to a report from the Inspector General for Tax Administration, released to the public Thursday, about 950,000 of the nearly 1.8 million Americans who claimed the tax credit on their 2009 tax returns will have to return the money. The confusion comes because homebuyers were eligible for two different credits, depending on when their homes were purchased. Those who bought properties during 2008 were to deduct, dollar for dollar, up to 10% of the home’s purchase price or $7,500, whichever was less. The catch: The money was a no-interest loan that had to be repaid within 15 years. Had they waited to buy until 2009, they could have gotten a much sweeter deal. Congress extended the credit and made it a refund rather than a loan.”

eCreditDaily.com states, “Nearly 1.8 million taxpayers claimed a total of almost $12.5 billion under the popular first-time homebuyer tax credit program, but more than 950,000 taxpayers will be required to repay the credits because their homes were purchased in 2008, according to a U.S. Treasury report released today. And many more may have to repay the credits “if the homes cease to be the primary residences of the taxpayers within 36 months,” according to the report released by the U.S. Treasury Inspector General for Tax Administration (TIGTA). TIGTA said the Internal Revenue Service is improving its methodology to more precisely determine how many have to repay the tax credits. Nonetheless, the announcement will come as a shock to taxpayers who purchased homes to take advantage of a program meant to revitalize the depressed housing market.
The Housing and Economic Recovery Act of 2008 created a new “First-Time Homebuyer Credit” equal to 10 percent of the purchase price of the home, limited to a maximum amount of $7,500. But that original credit served as an interest-free loan that must be repaid over a 15-year period. The following year, the homebuyer tax credit program was expanded and converted into a full credit that does not have to be repaid.”

To view the Treaury report, go to: http://www.ustreas.gov/tigta/auditreports/2010reports/201041086fr.pdf.

Image Source: http://ecreditdaily.com/

Tags: Denham Springs Real Estate, Homebuyer Tax Credit, Mortgages

http://www.appraisersindenhamsprings.com/ – Denham Springs Westminister Estates August 2010 Update: Number of Sales Up And Price Per Sq. Ft. Down!

There were NO MLS SALES in August 2010. Sold Price Per Sq. Ft. Down $3.66/sf in 2010 or -3.8%.

YEAR-TO-DATE SOLDS:

Solds In South Point from 1/1/2010 to 8/31/2010 revealed:
Average Sales Price: $150,040
Average Sold Price Per Sq. Ft.: $92.63 (Avg through 8/09 $96.29)
Median Sold Price: $144,450
Number of Sales: 10
Average Days On Market: 57
Low To High: $121,900 to $189,900
Number of Sold REO/Foreclosures Noted In MLS: 2

NUMBER OF SALES IN 2010 VERSUS 2009: -12.5% Decline

In The Number Of Sales From 1/1/09 – 8/31/09 to 1/1/10 – 8/31/10. In 2009 there were 7 sales at this point and in 2010 there have been 10 sales. So, there have been 3 more sales or +43% in home sales volume. However, 2 of these sales were attributable to foreclosure activity.

CURRENT LISTINGS AS OF 9/8/2010:

Current # GBRMLS Listings: 9, 0 or Zero REO/Foreclosure Listings
Current Listings Prices: $138,500 To $178,900, Average $87.73/sf.

NOTE: Data Used With Permission of the GBRAR GBRMLS. Data was extracted on 9/9/2010 from periods 1/1/2009 to 8/31/2009 and 1/1/2010 through 9/8/2010.

http://www.woodlandcrossingappraiser.info/ – Denham Springs Woodland Crossing August 2010 Update: Number of Sales Down, Price Per Sq. Ft. Up! There was only 1 sale in August 2010.

AUGUST 8/1/2010 to 8/31/2010: Only 1 GBRMLS Sale. 12309 Pinebrook Dr, with 1,620sf sold for $144,000 or $88.89/sf.

YEAR-TO-DATE SOLDS:

Solds In Woodland Crossing from 1/1/2010 to 8/31/2010 revealed:
Average Sales Price: $149,057
Average Sold Price Per Sq. Ft.: $93.80 (Avg through 8/09 $90.74)
Median Sold Price: $147,535
Number of Sales: 40
Average Days On Market: 94
Low To High: $118,900 to $210,000
Number of Sold REO/Foreclosures Noted In MLS: 2

NUMBER OF SALES IN 2010 VERSUS 2009: -15% Decline

In The Number Of Sales From 1/1/09 – 8/31/09 to 1/1/10 – 8/31/10. In 2009 there were 47 sales at this point and in 2010 there have been 40 sales. So, there are 7 less sales or -15% in home sales volume.

CURRENT LISTINGS AS OF 9/8/2010:

Current # GBRMLS Listings: 42, 4 REO/Foreclosure Listing
Current Listings Prices: $115,900 To $199,900, Average $89/sf.

NOTE: Data Used With Permission of the GBRAR GBRMLS. Data was extracted on 9/8/2010 from periods 1/1/2010 through 9/8/2010.