Tim Houk

From Baton Rouge Business Report

The LSU Property Foundation has purchased a 38.6-acre tract next to its South Campus for $3.86 million. David Hardy, an attorney for the foundation, says the purchase extends the university’s holdings between GSRI Avenue and Nicholson Drive. The land is adjacent to a 60-acre tract LSU bought in late 2007 for $6 million. Officials with the LSU Foundation say it will be up to the university to decide what to do with the land.

From Baton Rouge Business Report

Central Community School officials have purchased two tracts of land off Sullivan Road for $2.45 million. The sites, which total 84 acres, are between Hooper and Joor roads, says Brian Kidwell, director of business for the school system. Design work for the new upper elementary and middle school has already started; Kidwell says the plan is to have the facilities open by the start of the 2011-12 school year.

From the Baton Rouge Business Report

Capital Region home sales were down 6% in February, when compared to the year before. According to figures from the Greater Baton Rouge Association of Realtors Multiple Listing Service, there were 415 homes sold in the Capital Region, compared with 443 in February 2009. Ascension Parish once again saw its sales increase, going from 91 MLS transactions in February 2009 to 94 last month. The average sale price in Ascension was down, however, from $213,461 to $192,596. East Baton Rouge Parish saw its home sales fall by nearly 15%, from 241 to 206. The average sale price was virtually unchanged, from $212,603 in February 2009 to $211,956 last month. Livingston Parish average sale prices increased, from $149,930 in 2009 to $157,000. But the number of homes sold in the parish dropped to 77, from 86 in February 2009. Sales and average prices were up in the other category, which includes MLS sales in parishes such as West Baton Rouge, Iberville and the Felicianas. There were 38 homes sold, at an average price of $166,807, compared with 25 sales and an average price of $154,562 in February 2009. Through the first two months of the year, the number of home sales was down 6% in the Capital Region, to 790, while the average sale price was down 2%, to $189,253.

—Timothy Boone

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.

THIS IS YOUR DREAM HOME. Builders personal home and spared no cost on details! Located near a quiet dead end street, this home boasts 12 foot ceilings in living room, 10′ in bedroom. 72″ television to remain in the living room that goes great with the 5.1 surround sound speakers and built in sub speaker. There are mounted exterior speakers as well. Kitchen has thermador cook top, icemaker in the island, granite counters throughout. Rounded sheetrock corners which give the rooms a nice transition. Interior features include top of the line bathroom fixtures, vessel bowl sinks, hingeless shower door, hydro flush toilet with automatic closing lids, cast iron tubs throughout, master has deep jacuzzi tub, and slab granite to name a few. Concrete mantle over the fireplace is one of a kind. Floors in living areas consist of handscraped mahogany wood and imported italian porcelein tiles. Refrigerator and custom blinds to remain with home.

From the Business Report:

From Fox Business:

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.

Good news!

Baton Rouge is ranked 10th nationally for cities that are recovering from the recession. The list was compiled using labor and housing statistics. To read the full list at Forbes click here.