Snow in Baton Rouge – Really?!

Here are some pics that I took this morning before the snow quit falling

Foreclosures down 23% in Louisiana

In an interesting piece of news, foreclosures are down 23% statewide.  Compared to 28% increase nationwide, we are faring quite well!  While I personally don’t think we have seen the worst of it yet,  in Baton Rouge and surrounding areas,  it is a good sign that our market won’t be overwhelmed – hopefully. I do hear that we will begin to see a lot of incomplete homes coming on the market from builders and contractors who are are behind and carrying too much inventory.  I also see a lot of investment property coming available as well.  Investors this is the time to move.

Read the article here

Tim Houk

Price changes in Baton Rouge?

In a recent poll in Baton Rouge about pricing:

Forty-one percent of the people who responded to a survey say Baton Rouge home prices are roughly the same as a year ago. Twenty-eight percent say that prices are down from a year ago, while 20% say the sale price of a house is up from 2007. Eleven percent were unsure. Nearly 150 people participated in the survey.

Interesting to see the perception that people have about our market.  Prices are down from a year ago.  Call or email me for more information about your local neighborhood.

Tim Houk

In the market for a Condo in Baton Rouge?

Well you have a LOT to choose from.  There are currently 652 Condo’s on the market in East Baton Rouge Parish.  Here’s the bad news: without 10-20% down you may not get one.  I was told by 4 lenders in the past few days that the criteria for purchasing a condo has gotten very strict.  There are warrantable, which has more owner occupants than investors and leased out units, and warrantable.  There are a few complexes in town that are FHA approved which will require less down. I have been also working with the ONLY lender in town who can do 100% financing, but the requirements are STRICT.  Call me for details if you are interested in finding out more details!

Tim Houk

Rates are low…closing time longer

Just a short bit of my dealings as of late.  Rates have been fantastic which is increasing the amount of buyers that I have.  However, getting to the closing table takes a little longer.  My average closing time the past few months has been 45 days, with some lasting quite a bit longer!  Don’t get me wrong, I don’t want to discourage anyone.  However if you are in the market to purchase a home, expect the purchase time to be a little longer than usual and plan accordingly.  Don’t let the media fool you, its a GREAT time to get into a home.  Prices are falling and there are deals all over the place.  Call me and lets set up a consultation IMMEDIATELY!