B.R. home sales up 16% in November

Strong November home sales in the eight-parish region tracked by the Greater Baton Rouge Association of Realtors have already placed year-to-date 2012 home sales ahead of total sales in 2011, with another month of sales still to report this year. GBRAR reports 566 homes were sold in November in East Baton Rouge, Ascension, Livingston, West Baton Rouge, East Feliciana, West Feliciana, Iberville and Point Coupee parishes. That’s 80 more home sales than were tallied in the region in November 2011, or an increase of about 16%. The average sale price in November, at $206,249, was also considerably higher than that of the same month last year, when the average home sold for $173,096. Through November, 7,064 homes have been sold in the Capital Region this year, which is roughly 15% more than the 6,122 sold through the same 11-month period last year—and exceeds the 6,604 homes sold in all of 2011. The 11-month total this year is also already ahead of annual sales totals in 2010 (6,386) and 2009 (6,899). And unless December sales this year are far below the 482 recorded last December, 2012 should end up being a stronger year than 2008, when 7,284 homes were sold and the area began seeing impacts from the national recession. Total months inventory—or the number of months it would take to sell all homes on the market at the current sales pace—was also down sharply in November compared to last year. Although the months inventory rose to 7.3 in November from 6.5 in October, it is still well below the 10 months inventory recorded in November 2011.

Read more from Business Report here: http://businessreport.com/daily-report/12172012/Baton_Rouge_home_sales_up_16_percent_in_November#ixzz2FKaZsNNe

Real Estate Investing: Single Family Home vs. Condo

From Fox Business:

If you’re considering getting into the landlord game, you might wonder  whether it’s best to buy a single family home or a condominium.

Many people say to stay away from condominiums because of all the issues with  homeowners associations, and they have a point. However, single family homes  have many issues, too, so don’t make up your mind so quickly.

Here are several things to consider in this “Rumble in the Investment  Property Jungle.”

Round 1: Investment returns

When you’re buying an investment property, the first thing you should do is  pencil out your real estate deal to see if it has fair cash-on-cash investment  returns. As a general rule, you’ll find that single family homes typically have  lower cash-on-cash returns than condominium properties. So a fair deal on a  single family home might be a cash-on-cash return of 3 to 5 percent, while a  condominium might have 4 to 7% returns. The condominium will probably take this  round, but every property is different, so you need to pencil out your specific  deal to understand the returns.

Round 2: Tenant turnover

Every time your tenants leave, you’ll need to re-rent the property. And it’s  a lot of work! You have to advertise, take calls and emails, show the property,  draft a lease, do a credit check, move the old tenant out, move the new tenant  in, etc. And even if your old tenant left the place in perfect shape, you still  need to fix minor issues, probably paint and maybe have the carpets cleaned.

Smart landlords know that you make the most money by keeping your tenants as  long as possible. Apartment/condo units typically turn over every other year,  while single family homes typically have much longer tenancies of three to five  years. Clear winner on this round: single family homes.

Round 3: HOA vs. non-HOA

The biggest complaint about condominiums is dealing with HOAs and HOA fees.  And while there are many HOAs that are in terrible financial, legal and  operational shape, there are also many that are well-managed and in very good  shape. HOAs can have strict rules, and if you or your tenant breaks them, you  have to deal with the fallout. But those rules also keep harmony in the  neighborhood and stops tenants from parking inoperable vehicles, appliances,  etc., in their yards as might happen with a single family neighborhood. No clear  winner here.

Round 4: Ongoing maintenance and repairs

As a single family residence owner, you would need to schedule and handle all  the exterior issues — roofing, painting, landscaping — which is going to take up  a lot of your time and energy. These are all tasks the HOA would handle in a  condo community. Overall, it’s much less work owning a property in an HOA — and  that’s why owners pay HOA fees. It’s a condo “KO” on this issue!

Round 5:  Value increase

Many people believe that single family homes go up in value more than condos,  but there really isn’t any conclusive proof of that. Most real estate, in a  general vicinity, is going to appreciate about the same 2 to 3% per year over  the long term. So you should exclude this one as a consideration. For building  wealth, forget the appreciation and instead go for the better cash flow as noted  above in Round 1.


So those are some of the items to consider. Either one can be a great  investment, or a terrible investment, depending on what you purchase, how much  due diligence you do before your purchase and how well you manage the property.  Do a lot more research and talk to property owners, and then you can figure out  how you will win the heavy weight championship of real estate investing!

Read more:  http://www.foxbusiness.com/personal-finance/2012/11/26/real-estate-investing-single-family-home-vs-condo/#ixzz2DMUn4CT6

752 Franklin St., Capital Heights Home For Sale, Baton Rouge, LA

Incredible curb appeal on this charming cottage in Capital Heights. Shaded front yard with mature oak trees lead up to a covered front porch with swing and a recently painted exterior. Upon opening the front door, the wall to wall windows allow an abundance of natural lighting in the living/dining area and showcase the amazing wood floors. The kitchen includes slab granite counter tops, stainless steel appliances, a gas stove, and opens into the dining area. There are three spacious bedrooms perfect for kids or guests. The master bedroom has updated on-suite bath with tiled shower and large walk in closet. Dream backyard with custom deck ideal for weekend barbeques and entertaining guests. Walking distance to mid city merchants, a walking/bike path, and proximity to Towne Centre are just added bonuses to this wonderful home. Call Tim at 225.301.7467 or visit buyorsellbatonrougehomes.com for more information!

752 Franklin St.

3347 Nicholson Dr – Baton Rouge Condo For Sale – 225-301-7467

Walking distance to LSU campus, tailgating, and much more is  what you will find in this New Orleans style condo minutes from Tiger Stadium.  Two bedroom two bath condo features granite countertops, stainless steel  appliances, wood floors, and a balcony with great views of Tiger Stadium. Condo  amenties include fitness center, private parking, and secure entrances. This  would be perfect for a first time LSU student looking to be involved in all the  fun festivities LSU has to offer. Motivated seller…Hurry and hear MIKE roar  from YOUR backdoor!! Call Tim at 225-301-7467 or visit buyorsellbatonrougehomes.com to learn more!

Capital Region 2012 home sales on pace to match ’08 figures

From the Baton Rouge Business Report, Real Estate Weekly:

Three-quarters of the way through the year, homes sales in the eight-parish  region tracked by the Greater Baton Rouge Association of Realtors are far  outpacing sales in 2011, 2010 and 2009—and are only 1.5% off the year-to-date  tally from the pre-recession 2008 sales figures. A total of 5,833 homes have  sold in the region through September. That’s a nearly 13% increase over the  5,174 sales recorded in the first three quarters of 2011, a 15% increase over  the 5,069 sold in 2010, and a roughly 11% increase over the 5,241 sold in 2009.  This year’s tally through the third quarter indicates just 86 fewer sales than  in 2008. GBRAR President-Elect Pat Wattam says she expects 2012 sales to match  or exceed 2008 levels when the year is over. “I saw the market turn the corner  last November, and what we’ve seen since is a steady continuation of that,” she  says. While sales figures are paramount, Wattam says she’s also keeping an eye  on another figure: the months of inventory for the eight-parish region. In  September, it dropped to 6.24 months. A year ago, that figure was at 7.69, and  it actually reached as high as 10 months around the start of 2012. Wattam says  declining months’ inventory is a clear sign of an improving market and that she  expects it will continue to fall. She says a healthy market is generally one  with about five to eight months of inventory. “With East Baton Rouge dropping  below the eight months supply point, that means we’re in a very, very steady  market. It’s not a buyer’s market, but it’s not a seller’s market either,” she  says. “And in Ascension Parish, that number just dropped to below six months.  That tells me it’s flipping to a seller’s market.” —Steve  Sanoski This week’s poll question: Do you  believe the Capital Region housing market has fully recovered from the  recession?

Read more from Business Report here: http://www.businessreport.com/section/businessreport0113?utm_source=contactology&utm_medium=email&utm_campaign=RealEstateWeekly#ixzz2CDYfjKYt

15646 Green Trails Blvd – 4BR/2.5BA – $334,900

This New Orleans style home overlooking the lake has everything and more.  Beautiful wood floors throughout the large living room with fireplace along with  the seperate dining room overlooking the amazing backyard. Completely covered  Gazebo with a flat screen tv, swing, and a firepit for chilly Baton Rouge  nights. Master suite downstairs is made for a queen with a large walk in closet,  custom framed mirrors, tiled shower and much more.Kitchen features a breakfast  area off to the side plus granite countertops and a large granite topped island.  This home has everything you are looking for and much more so hurry and schedule  your showing! Call Tim at 225-301-7467 or visit buyorsellbatonrougehomes.com for more information!

15646 Green Trails Blvd

8922 Rue Felicity Court – 5BR/3.5BA – 225.234.0022

Traditional Southern home located in a quiet cul-de-sac off Old  Bluebonnet! This 3 story residence features 5 large bedrooms and 3.5  bathrooms. The lushly landscaped home sits on .6 acres with a custom  pool and floor cleaning system, oversized hot tub, and koi pond. Along  with the pool and 2 waterfalls, the backyard includes Satsuma, fig,  sweet kumquat, and orange trees. There is also a covered work station  behind the boat port. Large open chef?s kitchen with granite  countertops, two ovens, and brick flooring throughout. Adjacent  breakfast area and game room, perfect for after school and recreational  activities. His and her offices on separate ends of the house allow  great privacy. Floor to ceiling windows allow tons of natural light into the formal living room along with wood-burning fireplace that is  perfect for chilly Baton Rouge nights. Sunroom off the living room  overlooking the peaceful oasis in the backyard. Two bedrooms upstairs  with built-in desks open to the grand 350 square foot balcony. The third story loft would make a perfect media or sixth bedroom. Master displays beautiful dark wood floors  with 2 separate his or her closets. The  master bathroom features a new standup shower and separate Jacuzzi tub  with gorgeous views of the backyard. Entire home is wired with Intercom  system that plays music or can be used to monitor individual rooms.  Hurry and schedule your showing today because this one won?t last long! Call Tim at 225-301-7467 or visit buyorsellbatonrougehomes.com to learn more about this one of a kind beauty!

8922 Rue Felicity Court

8922 Rue Felicity Court

8922 Rue Felicity Court

21102 Turkey Creek – Mallard Lakes – Baton Rouge

Country living in city limits!  Located in a gated community, it is truly one of a kind. Over 33 pristine acres ready for you to build your dream home. This lot offer MANY different views of the lake and more. SUBDIVISION RESTRICTIONS PERMIT A BARN, LIVESTOCK, TENNIS COURT AND GOLF PUTTING/PRACTICE AREA. Call Tim at 225-301-7467 or visit buyorsellbatonrougehomes.com to learn more!

21102 Turkey Creek

Two more subdivisions proposed for Hoo Shoo Too Road area

From the Baton Rouge Business Report, Real Estate Weekly:

When the 90-home gated community of Mallard Park was  proposed north of Hoo Shoo Too Road in May, the city-parish Planning Commission  denied the development because the developer refused to connect it to outside  streets. The Metro Council gave Mallard Park final approval anyway, overriding  the Planning Commission. Now come proposals for 239 more homes in the same area.  Oak Ridge Estates would be a 149-lot development south of Elliott Road, a little  more than half a mile northwest of the intersection of Elliott and Hoo Shoo Too;  Mallard Trails would be a 90-lot development in the 22250 block of Hoo Shoo Too,  east of Wood Duck Drive. Both developments appear to have extra connectivity  rather than one entrance and exit, says Planning Commission spokesman Ryan  Holcomb. “I think we’ll be able to get the approval,” says Mallard Trails  developer George Robinson, declining to give details about the 56-acre  subdivision. Applicant Brandon Dodson could not be reached for comment on the  proposed 66-acre Oak Ridge Estates. Holcomb says details about both developments  could be on the Planning Commission’s website by Nov. 2. The commission could  hear the proposals Nov. 13. —Adam Pearson