Wow. What an amazing few months in real estate in Baton Rouge and surrounding areas. Properties are flying. First time homebuyers are on full steam ahead! I worked with no less than 6 new buyers over the past week who are looking in the 130-160,000 price range. But it isn’t just the first time homeowners are on the move suprisingly. Lots of investors and buyers in the 300,000 range are taking advantage of the phenomenal rates and increased supply of homes. Rates were in the 4.85 range last week! Now is the time to buy. If you are even remotely interested in a home right now CALL ME. 225.301.7467. I would love to discuss options and give a more detailed update on the Baton Rouge housing market. Search for homes at my website Tim Houk
Thanks and have GREAT day Baton Rouge!!!
From the metro monitor on the top performing areas:
MetroMonitor Overall Performance
The map below classifies the 100 largest metro areas into 5 categories (quintiles), based on their average rank across a series of four indicators: employment change from peak; unemployment rate change from one year ago; gross metropolitan product change from peak; and housing price index change from one year ago.
I must give myself a small pat on the back for the hours and hours of work that went into putting this deal together. We still have a ways to go with the project, but me and my investor have made a HUGE step in turning this complex around for the best.
From the Business Report
Majority interest in Brandywine Condominiums sold
Wednesday, September 2, 2009
The Brandywine Condominiums have had a great deal of bad press lately with rentals not being paid and units being boarded up. Several months ago, the condominium complex had 16 of its 298 units burned down. Originally, the project on Darryl Drive was designed for apartments, but was converted to condominiums in the 1980s. The units were not separately metered, meaning the condominium dues had to include utilities. But when condominium dues were not paid utilities were cut off in many of the units, causing tremendous controversy and resulting in irate tenants allegedly burning down two of the buildings. Recent closings might end the controversy.
DOX Apartments purchased 152 units on Monday, and intends to purchase another 37 units in the next 30 days. Three agents brokered the property with Keller Williams Red Stick Partners: David Vercher, Tim Houk and Michael Cahill. According to Houk, there were five sellers and two closing attorneys involved. Kevin McCleary of McCollister, McCleary & Fazio closed 78 units, and Jacque Favert at Title Plus closed the remainder of the units.”
Stay tuned for the rest of the story!
from the Baton Rouge Business Report:
Four La. markets named among nation’s best for real estate
A new report says Baton Rouge, Lafayette, Lake Charles and Monroe are four of the U.S. real estate markets expected to perform the best in the upcoming year. Local Market Monitor, which produces the Home Price Forecast for more than 300 cities, says home values should remain level in those cities over the next 12 months. Officials with Local Market say home prices in those cities are lower than the national average, and the effects of the recession have been slight. Baton Rouge, in particular, has continued to add jobs. The markets expected to do the worst include places where there were spikes in home prices and where speculative buying got out of hand, such as Las Vegas, Miami and Modesto, Cali