2010 September | Baton Rouge Real Estate Appraisers

Archive for September 2010

Baton Rouge Real Estate Trends: Tuscany Villas Subdivision 2010 Trend 70817

http://www.batonrougerealestateappraisers.net/ – Baton Rouge Real Estate Trends: Tuscany Villas Subdivision 2010 Trend 70817

Tuscany Villas Entrance Sign

Solds In Tuscany Villas 1/1/2010 to 9/13/2010 revealed:
Average Sales Price: $184,792
Average Sold Price Per Sq. Ft.: $125.21/sf
Median Sold Price: $185,500
Number of Sales: 6
Low To High: $180,000 to $188,000
Current # Listings: 2
Current Listings Prices: $189,900 To $191,900

THE TREND: The trend since 2009 is a lower average and median sold price and lower price per sq. ft., but based on only 1 sold in 2009. In 2009, there was one sale (1) for $198,000 or $131/sf. In 2008, there were 3 solds averaging $126/sf, average solds of $187,333 and median solds of $190,000. So, it appears that 2010 sales have softened somewhat the average and median sold prices and average sold price per square foot.

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Tags: Baton Rouge Housing Market, Baton Rouge Real Estate, Baton Rouge Real Estate Housing, Baton Rouge Real Estate Trends, Real Estate Baton Rouge, Tuscany Villas, Trends Baton Rouge Real Estate, 70817

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Don’t Let ‘Floppers’ Flip Your Greater Baton Rouge House

http://www.batonrougerealestatebuzz.com/ – Don’t Let ‘Floppers’ Flip Your Greater Baton Rouge House!

Housing Watch Dot Com has an interesting article on “Short-Sale Flopping“! Read the entire article here: Don’t Let ‘Floppers’ Flip Your House. Buzz has provided a few snippets below.

“Looking to get rid of a house that’s underwater? If you’re stuck with a home that’s worth less than your mortgage, you could be bait for a new scam that’s just starting to take hold called short-sale “flopping.”

A flopper drives down the price of your home so that the lender will allow the borrower to sell your home for less than it’s worth. “You have to have an appraiser involved for this [scam] to be successful,” says Griff Straw, president of Solidifi. Straw does not think “flopping” can be successful without an appraiser who’s willing to undervalue the property.

Once the flopper gets an agreement for the short sale he then finds a buyer (or may already have a buyer lined up) who will buy the property for thousands of dollars more. The lender takes the loss — and possibly even the homeowner who agreed to the short sale, if there wasn’t a protection against being sued by the lender for a deficiency judgment.

You could be left holding the bag for thousands of dollars if the short sale isn’t handled in a way that protects you from getting hit with a deficiency judgment. (That’s when the bank chases you for any shortfall.) You can be protected with a short-sale contract, but you need to work with a reputable real estate lawyer when you negotiate with the bank. So if someone approaches you with a quick deal to get out of your house, be cautious.”

Image Source: Getty Images and Housingwatch.com.

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Good Legal News For Greater Baton Rouge Home Owners Dealing With Chinese Drywall!

http://www.batonrougerealestateappraisal.com/ – Good Legal News For Greater Baton Rouge Home Owners Dealing With Chinese Drywall!

Below is news about Chinese Drywall Litigation for Florida and Louisiana as quoted below from: http://www.lawyersandsettlements.com/case/chinese-drywall-problems.html?ref

“Chinese Drywall Litigation Heats Up News

July 28, 2010. By Jane Mundy

Miami, FL: Having recently lost a
<http://www.lawyersandsettlements.com/case/chinese-drywall-problems.html?ref
=article14638> Chinese drywall lawsuit, Banner Supply Company is now facing
a class action lawsuit, which will attempt to include all Florida homeowners
who bought drywall from the distributor. The class action alleges that
Banner knew the drywall was defective in 2006 and was negligent in not
warning consumers.

Chinese Drywall Litigation Heats UpMeanwhile, homeowners with defective
drywall are also concerned that their home insurance policy may not cover
Chinese drywall. LawyersandSettlements recently reported on the
<http://www.lawyersandsettlements.com/articles/14512/chinese-drywall-china-2
8.html> decision by Judge Robert Doumar, in the federal court in Norfolk, VA
(Travco Insurance Co. v. Ward).

However, there may be good news for Louisiana homeowners.

Louisiana Governor Bobby Jindal signed legislation barring insurers from
ending homeowners’ insurance coverage if a policyholder files a claim based
on tainted Chinese drywall. In late 2009, Louisiana Insurance Commissioner
Jim Donelon said if the policyholder has been with the insurer for more than
three years, the state’s insurers will not be able to cancel policies
related to tainted drywall manufactured overseas. The state’s last resort
insurer, Louisiana Citizens Property Insurance Corp., now has a “bare bones”
policy to meet the requirements of lenders when a homeowner needs to vacate
a house.

On the federal level, experts predict that a bill known as the Foreign
Manufacturer Legal Accountability Act will likely be passed in the next
month or so. Developed in response to the public outcry that resulted when
consumers found out that the Chinese manufacturers could not be held
accountable under US law for the defective products, the law would allow
Americans to sue foreign consumer-product makers in US courts.

The Act will require foreign manufacturers of “covered products” to
designate a registered US agent to receive service of process on behalf of
the company. This basically means that foreign manufacturers can be sued in
the United States for any civil action related to those covered products.
The law would also prohibit any person from importing covered products from
manufacturers who do not have registered agents in the US.

Possibly more good news for homeowners: lawyers are currently trying to set
some rules in Chinese drywall settlements. According to court papers filed
in New Orleans, Knauf Plasterboard Tianjin Co. Ltd. (KPT) and builders could
unfairly use settlements to get homeowners to unwittingly waive their legal
rights or to agree to inadequate remediation. The lawyers want US District
Judge Eldon Fallon, who has ruled in favor of homeowners in two early test
cases, to require greater disclosure by KPT and builders-including
settlement details and prior court decisions-in any communications with
homeowners.

Judge Fallon ordered KPT and another manufacturer to remediate those homes
by gutting and rebuilding their interiors. But attorneys contend that
disclosure is needed because the settlement attempts are intended to bypass
the judge’s rulings and undermine the judge’s rulings as the basis for a
national remediation standard. Manufacturers are appealing, but KPT is
beginning to seeking settlements with builders who used its drywall.

Chinese Drywall Problem Legal Help

If you have suffered losses in this case, please send your complaint to a
lawyer who will review your possible [
<https://www.lawyersandsettlements.com/submit_form.html?label=chinese-drywal
l-problems&ref=article14638> Chinese Drywall Problem Lawsuit] at no cost or
obligation.

[
<http://www.lawyersandsettlements.com/case/chinese-drywall-problems.html?ref
=article14638> READ MORE CHINESE DRYWALL PROBLEM ARTICLES ]“

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