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Archive for November 2009
Baton Rouge In Top Ten Housing Markets For Third Quarter 2009
http://www.batonrougerealestateappraisal.com/ - Greater Baton Rouge In Top Ten Housing Markets For Third Quarter 2009
Local Market Monitor Announces Release of Third Quarter Home Price For Largest US Markets, article here! Here’s a snippet:
“According to the forecast, among the largest US markets—identified as those with populations greater than 600,000—the 10 markets with the best expected performance in home price are:
Baton Rouge, LA
Buffalo-Niagara Falls, NY
Columbia, SC
Dallas-Plano-Irving, TX
Fort Worth-Arlington, TX
Houston-Sugar Land-Baytown, TX
Little Rock-North Little Rock-Conway, AR
Omaha-Council Bluffs, NE-IA
Pittsburgh, PA
San Antonio, TX
Syracuse, NY
These top markets, where home values are expected to remain level, are among those markets that did not have a big housing boom and have had relatively small job losses over the past year. Home prices in these areas are generally below the US average and reflect where the recession has so far had a relatively mild impact. Dallas, San Antonio and Omaha have all experienced a 1.6 percent job loss over the past year, and jobs have actually increased in Baton Rouge.”
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Baton Rouge Real Estate: Springlake New Home Construction Raises 2009 Median Sales Price
http://www.batonrougerealestateappraisers.net/ - Baton Rouge Real Estate: Springlake At Bluebonnet Highlands New Home Construction Raises 2009 Median Sales Price
Chart #1 includes ALL solds from November 2008 to November 2009 YTD indicating a +7.36% increase in median sales price. ALL home sales includes both new home construction sales and existing home sales.
Chart #2 includes ONLY solds of existing homes from November 2008 to November 2009 YTD indicating a -0.66% decline in median sales price.
Current Listings. Currently, there are 29 listings within Springlake, from $196,900 up to $288,900. Of these listings, 15 are new construction and 14 are existing homes. The Average Listing Price is $238,655, Average Listing Price Per Sq. Ft. is $139.56/sf, Median Listing Price $239,500 and Average Days On Market 104 days. FSBOBR.com indicates 11 more current listings in Springlake from $198,000 up to $265,900. Assuming the 11 FSBOBR.com listings are not listed in MLS, that would total 40 current listings in Springlake, which would appear to be an oversupply and possibly the reason that the existing median sales price basically didn’t increase from 11/2008 to 11/2009.
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Baton Rouge Real Estate Video Of Woodstone Estates Subdivision Video Tour
http://www.batonrougerealestateappraisal.com/ – Baton Rouge Real Estate Video Of Woodstone Estates Subdivision Video Tour
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Baton Rouge Real Estate Appraisers News: Tax Credit Extended
http://batonrougerealestateappraisal.com/ – Baton Rouge Real Estate Appraisers News: Tax Credit Extended
Wow! I arrived back at the office to receive a flood of news about the Tax Credit Extension.
From Wells Fargo Mortgage:
Tami Luhby, with CNNMoney.com, is reporting that Congress Extends Homebuyer Benefits! Bill Extends Homebuyer Tax Credi Into Next Year. Here’s a snippet below:
“NEW YORK (CNNMoney.com) — New homebuyers are poised to see the $8,000 tax credit extended into mid-next year.
The legislation extends the $8,000 homebuyer tax credit to contracts signed by April 30 and closed by June 30. The controversial credit, which many say has boosted home sales in recent months, was set to expire after Nov. 30.
The bill also creates a $6,500 credit for those who buy a home after living in their current house at least five years. That measure would apply to contracts signed by April 30 and closed by June 30. The current credit defines a first-time homebuyer as someone who has not owned a residence within the past three years.
The credit would be available only for the purchase of principal residences priced at $800,000 or less.”
From Darren James @ Keller Williams Realty:
“Breaking News!!!
As of today-Thursday, November 5th, the bill has passed involving the extension and expansion of the homebuyer tax credit and will be sent to President Obama for his signature. The new program will go into effect when President Obama signs the bill. Click link below for details!!
From Baton Rouge Business Report:
Realtors pleased tax credit extended
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B.R. Business Report & FACL: Baton Rouge Home Prices Down Slightly
http://www.batonrougerealestateappraisal.com/ – Baton Rouge Business Report & First American Core Logic: Baton Rouge Home Prices Down Slightly
(In this example above, this Baton Rouge Housing Market in 70815 has experienced more than just a slight decline in median sales price and an oversupply of competing housing. Parameters are the 1900sf to 2400sf living area size range)
The Link is Here! Here’s a snippet of from the report:
“A new report says Baton Rouge home prices dropped 0.41% in August from the year before. First American Core Logic says the local Home Price Index was down from August 2008, after a 0.8% increase in July. That local decrease is much better than the 10.1% drop reported in First American’s national index in August. Louisiana’s index was down 3.9% during the month. First American predicts U.S. home prices will hit bottom in March, because of the increasing number of homes entering the foreclosure process and the expiration of a tax credit for first time homebuyers — although members of Congress are working to extend the credit into next year. By August 2010, First American projects the home price index will be up 4.6% nationally and 0.51% in Baton Rouge.”
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