Tim Houk

A Baton Rouge Business Report poll  shows that Fifty-eight percent of people who responded to a Real Estate Weekly poll say buyers have the advantage locally in the market for homes under $300,000. Thirty-six percent of people who participated in the survey say the market favors neither buyers or sellers, while 6% say it’s a sellers market below $300,000. Nearly 100 people participated in the survey.

Sellers pay attention!  While the market in Baton Rouge has done well compared with rest of the state…and the nation. WE are having our issues with pricing. The Business Report reports that the prices of homes fell by 1.3% in October when compared to the year before. That is better than the 7.8% drop nationally sure. We do have to look at is like this:

A home that would have been listed at 200,000 last year priced ACCURATELY would need to be in the region of 197000 to be competitive. Most likely that price would need to be around 195 depending on the neighborhood competition.

Good news for next year however. Baton Rouge real estate prices are expected to climb by 2.35% accoring to First American CoreLogics Home price index. Sellers, get your house in the BEST shape possible if you are considering selling.

From the Baton Rouge Business Report:

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From the Baton Rouge Business Report:

I was reading the Business Report article this morning and noticed this little tidbit of information I found VERY interesting. Baton Rouge real estate IS the investment to make!

“Still appreciating: Baton Rouge is ranked seventh on Housing Predictor’s midyear list of the 10 hottest housing markets for buyers. Housing Predictor says the Capital Region is among the places most likely to see home prices inflating over the next few years, despite the national recession. Amarillo, Texas, topped the list, with Sioux Falls, S.D. second and Biloxi, Miss. third. This is a bump up for Baton Rouge: the city was ninth on the list Housing Predictor released at the start of the year.”

More good news about the Baton Rouge housing market: A real estate forecasting service says the Capital Region is one of the 10 best cities in terms of future home prices. Local Market Monitor, which produces the Home Price Forecast for more than 300 cities, says home values should remain level locally over the next 12 months. Officials with Local Market Monitor credit the same factors for Baton Rouge’s stability that have been repeatedly said during the national housing crisis: Home prices in the Capital Region never got out of hand, and economic growth has remained steady locally. Other cities with populations of more than 600,000 in the top 10 include Dallas, Houston and Rochester, N.Y. Alexandria, Monroe and Shreveport-Bossier City made the top 10 list for future home prices in cities with populations under 600,000. The worst housing markets were mostly cities in California, Florida, Arizona and Nevada, where price speculation got out of hand, places such as Las Vegas, Phoenix and Fort Lauderdale, Fla.

Read the article here

19617 W Piney Point Ave

“Custom built by Chuck Dupree with luxury pool and spa by Ewing Pools. This 20 year old home is effectively “better-than-new” because of high quality of construction and meticulous updates and maintenance. If you are looking only at “new” homes, you owe it to yourself to see this home! Mature, professional landscaping amongst towering, lovely trees creates your own private park and oasis. Nailed, antique heart pine floors in living room and dining room. Fine Mexican tile in kitchen, breakfast and keeping rooms. Italian marble floors in luxurious master bath. Gleaming cypress cabinetry in kitchen, keeping and living rooms. TWO fireplaces! Wood mullioned windows wrapped in wood mouldings are further evidence of quality craftsmanship. Custom draperies and antique chandiliers remain. The custom Ewing pool has tiled edges, brick surrounds, parapets and walkways to create a serene, classic personal resort for homeowner and guests alike. Built-in hottub of gunite and brick has seating for one or several and provides a refreshing waterfall into the pool. Multi-levels of patio give different perspectives and additional privacy. The park like rear yard has room for recreation or just more of Mother Nature’s gifts. Beautiful granite countertops and island top in the gourmet kitchen is a recent update. You may be hard-pressed to fill all the cabinets in the kitchen and pantry, but you can try! Split floorplan for in-laws or guests. Master bedroom views pool. Super high ceilings and great natural light throughout the day. Circular front drive gives guests ample parking and you can still access the rear laoding, double+ garage”

19617 W Piney Point Ave

From the Baton Rouge Business Report:

Baton Rouge home prices were up 2.4% in March, compared to the year before, another sign of market stability in the wake of a national housing downturn. The modest increase was a little worse than the February numbers from First American CoreLogic’s Home Price Index. In February, Baton Rouge home prices were 4.14% higher than what they were in February 2008. Nationally, home prices were down 11.5% in March when compared to the year before. In Louisiana, home prices were up 1.76% in March, the third-highest appreciation rate in the nation. Only West Virginia (7.45%) and South Dakota (1.95%) were higher. First American bases the HPI on public records sources such as property sales, tax assessments and mortgage filings. First American notes that 44 states had price declines in March, compared with 30 the year before, and the number of states posting double-digit price drops went from seven in March 2008 to 14 in March 2009. First American notes that U.S. home prices, which peaked in July 2006, have fallen more than 22% and are at their lowest point in five years