http://www.batonrougerealestateappraisers.net/ – Why Are Baton Rouge Bankruptcy Home Appraisals Needed During Bankuptcy?

The Coyle Group Philly Appraisal Blog has written an interesting article on residential bankruptcy appraisals I wanted to share with Greater Baton Rouge residents. The link to this article is: Why is an appraisal needed during Bankruptcy?

Mr. Coyle states, “During bankruptcy the debtor (the person or entity defaulting) is required by the court to demonstrate the worth of their assets. Since the debtor’s real estate holdings are, oftentimes, their largest asset a real estate appraisal is required.”

If you need a local Greater Baton Rouge Home Appraisal for Bankruptcy purposes, call Accurate Valuations Group at 225-293-1500 or Click the Order An Appraisal button here or above, fill the order out and send it in and we’ll be in touch very soon. Thank you, Bill Cobb, Appraiser

Tags: Baton Rouge Real Estate, baton rouge homes, baton rouge houses, Baton Rouge Appraisal Greater Baton Rouge Appraisal, Greater Baton Rouge Appraisers, Baton Rouge Appraisers, Baton Rouge FHA Appraisers, Baton Rouge Bankruptcy appraisals, Baton Rouge date of death appraisal, baton rouge estate appraisal, baton rouge probate appraisal, baton rouge tax appeal appraisal

http://www.appraisersinbatonrouge.com/ – Baton Rouge Real Estate: How Is Villa Del Rey Subdivision Performing Into 2011, Increasing, Declining or Remaining Steady?

Potential $20K Loss. This is an on-going series into the decline of Greater Baton Rouge Home Values and why potential buyers should beware and not pay too much for “some” local overpriced listings. YES, there are overpriced listings in the Greater Baton Rouge Housing Market! Bill strongly recommends in this housing environment to obtain a Pre-Purchase Appraisal to gain ALL of the facts before making a local home purchase decision. In the appraisal I recently completed, the home sold for $155,900 in 2007, a Post Hurricane Katrina high price, and is now on the market for $136,000. If this home sells for $136,000, then homeowner only loses $20,000 and will lose a total of $28,160 after paying the selling commission.

A recent home appraisal in and analysis of Villa Del Rey revealed this interesting finding. From 2009 to 2010 to 2011, the median sales price has declined from $145,000 to $137,500 to now $136,000 (chart below is not updated) into 2011 based only on 3 sales. This drop is due to foreclosure and/or distressed sales. Actually, the chart below is incorrect because GBRMLS reports “38″ solds in 2010, not just 33, with a median of $137,500. Of those 38 sales, 11 or 29% were foreclosures, which is quite high. And, in 2011, the 3 solds only sold for $119,000, $136,000 and $139,000 indicating these sold below market.

THE CORRECTION IN HOME PRICES – This is becoming the familiar “Stair Step Up and Down”…..The Climb And Then Descent Of The Stairs In This Chart Below Visually Explains The Correction!

NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of January 1, 2005 to May 3, 2011. This information was extracted on 5/3/2011. YES, permission was granted by GBRMLS to use Subdivision Price Trends Chart Report!

AUTHOR’S BIO:

Bill Cobb is Greater Baton Rouge’s Home Appraiser frequently called upon by banks, homeowners, and savvy real estate investors to assess property values. A home appraiser with 20 years experience, Bill Cobb brings a wealth of knowledge to the table as a home appraiser.

Bill’s company, Accurate Valuations Group, serves Greater Baton Rouge (East Baton Rouge Parish, West Baton Rouge Parish, Western Livingston Parish and Northern Ascension Parish).

Contact Bill Cobb and Accurate Valuations Home Appraisal Group for your next home appraisal:
Office: 225-293-1500, Cell: 225-953-0638
Fax: 1-866-663-6065
info@accuratevg.com
http://www.accuratevg.com/

http://www.batonrougerealestateappraisers.net/ – East Baton Rouge Parish Quarterly Sales By Zip Code Q1 2010 versus Q1 2011 Report. Report shows an increase in number of home sales over 2010, but significant declines in Average Sales Prices overall. Report includes ALL housing types in East Baton Rouge Parish.

Accurate Valuations Group (Home Appraisals) has completed an analysis of the East Baton Rouge Parish housing market from First Quarter 2010 versus First Quarter 2011. The results are below. Click the chart to view in a larger size.

This is a lot of data to report on in one (1) article with “20″ zip codes. A short summary follows:

Number of Home Sales Increased Over 2010! For the number of home sales, only 9 zip codes reported a smaller number of sales. And, Ten (10) Zip Codes experienced more sales in Q1 2011 than in Q1 2010, which is great news for our market.

Average Sales Prices Overall Decline! This is consistent with the CoreLogic report on national home prices falling for the 7th straight month, as reported on Thursday, April 7, 2011. Thirteen (13) of the 20 Zip Codes showed declining average sales prices versus only Seven (7) showing increases. Local home prices are continuing to correct.

Average Sales Price Per Square Foot Overall Declines! This is consistent with the CoreLogic report. Fifteen (15) of the 20 Zip Codes showed declining average sales prices per sq. ft. versus only Seven (5) showing either no change or just slight increases.

Biggest Gainers. Zip Code 70807, the Scotlandville market, showed a 450% increase in number of home sales. Zip Code 70739, the Central or Greenwell Springs market, showed a +16.2% increase in Average Sales Prices AND +5.6% in Average Sales Price Per Sq. Ft.. Central is a “hot” market viewed by locals as having a favorable school district.

Largest Declines. Zip Code 70820, the market below LSU off Brightside, showed a -35.3% decrease in number of home sales. Zip Code 70802, the market in and around Central Business District, showed a -33.4% decline in Average Sales Prices AND -30.2% decline in Average Sales Price Per Sq. Ft..

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Author’s Bio:
Bill Cobb is Greater Baton Rouge’s Home Appraiser frequently called upon by banks, homeowners, and savvy real estate investors to assess property values. A home appraiser with 20 years experience, Bill Cobb brings a wealth of knowledge to the table as a home appraiser.

Bill’s company, Accurate Valuations Group, serves Greater Baton Rouge (East Baton Rouge Parish, West Baton Rouge Parish, Western Livingston Parish and Northern Ascension Parish).

Contact Bill Cobb and Accurate Valuations Home Appraisal Group for your next home appraisal:
Office: 225-293-1500, Cell: 225-953-0638
Fax: 1-866-663-6065
info@accuratevg.com
http://www.accuratevg.com/

http://www.batonrougerealestatebuzz.com/ – Baton Rouge Homes: Is This Ironic or What? An Angled Home On Angles Avenue? I was appraising a home in Baton Rouge on Saturday and saw this home in a neighboring development with angles located on “Angles Avenue”.

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]]> http://www.batonrougerealestateappraisers.net/baton-rouge-real-estate-appraisers/baton-rouge-homes-is-this-ironic-an-angled-home-on-angles-avenue/feed/ 0 http://www.batonrougerealestateappraisers.net/baton-rouge-real-estate-appraisers/new-cvr-home-valuations-now-available-in-greater-baton-rouge-replacing-bpos/ http://www.batonrougerealestateappraisers.net/baton-rouge-real-estate-appraisers/new-cvr-home-valuations-now-available-in-greater-baton-rouge-replacing-bpos/#comments Tue, 22 Mar 2011 13:19:25 +0000 http://www.batonrougerealestateappraisers.net/baton-rouge-real-estate-appraisers/new-cvr-home-valuations-now-available-in-greater-baton-rouge-replacing-bpos/

Advanced CVR Housing Market Valuation Reports Available Now in Greater Baton Rouge

The Future of Home Valuation Advanced CVR Housing Market Valuation Reports Available Now in Greater Baton Rouge

(Press Release) – Mar 22, 2011 – The Future of Home Valuation
Advanced CVR Housing Market Valuation Reports Available Now in Greater Baton Rouge

BATON ROUGE, LA – March 22, 2011 – A local businessman recently completed two days of hands-on training to bring a service that is being hailed as “the future of home valuation” to the Greater Baton Rouge area.

The product is called Certified Valuation Report – or CVR. Bill Cobb with Accurate Valuations Group is the region’s only certified home appraiser to offer this exciting new service to area residents following a weekend of dedicated training in San Antonio, Texas.

The Collateral Valuation Report (CVR) is a desktop application program that is capable of valuing properties as accurately as a Uniform Residential Appraisal Report (URAR), and can be delivered to customers in about 24 hours. This report is designed to be completed by a certified appraiser who has local area knowledge of the neighborhood.

CVR integrates public records, multiple listing services (MLS), flood, imagery and other relevant data directly to the report. In addition, the appraiser can define the neighborhood and use the most sophisticated analytics available. Adjustments are supported, comparable sales and listing are ranked and scored and ultimately, all of the data is available for an appraiser to interactively provide the most supportable valuation solution. The CVR is an affordable valuation solution. Better than a Broker Price Opinion (BPO), less than a URAR.

“In my 20 years of professional experience in this area, I have to say that this is one of the most exciting products that has come along in quite some time,” Cobb says. “The CVR valuation can provide sellers with the competitive edge they need to price a home for a quick sale. In a tight lending market, it can also be the information a homeowner needs that can mean the difference between getting a needed loan or equity line of credit – or not.

“As the area’s only certified CVR professional, I am excited to offer this valued-added service to our customers and it is just one more example of how Accurate Valuations Group provides our clients with outstanding customer service.”

Find out more at http://www.gbrcvrreports.com/

A short video presentation is presented above by iMotionVideo.com: http://www.youtube.com/watch?v=VROPo446lzE

http://www.batonrougerealestateappraisal.com/ – Baton Rouge Homes: Millbrook Subdivision 2010 Home Sales Price Trends

Solds In Millbrook Subdivision from 1/2010 to 12/31/2010 revealed:

Average Sales Price: $229,300 ($254,000 in 2009)
Average Sold Price Per Sq. Ft.: $125.23/sf ($120.97/sf in 2009)
Median Sold Price: $235,000 ($254,000 in 2009)
Number of Sales: 3 (2 in 2009)
Average Number of Days On Market: 109 (100 in 2009)
Low To High: $215,000 to $238,000
Number of Sold REO/Foreclosures Noted In MLS: 0
Current # Listings: 1, 0 Are Foreclosures
Current Listings Price: $226,000 or $128/sf (Notice this listing is generally priced $7/sf above 2010 support in Millbrook)

For the numbers above, one must keep in mind the sizes of the homes sold. In 2009, there were 2 homes sold averaging 2,103sf living area size. The 3 2010 solds averaged 1,831sf, 272sf smaller than the 2009 solds. Thus, it would make sense for the 2009 median sales price to be higher.

NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of January 1, 2010 to December 31, 2010. This information was extracted on 1/1/2011. YES, this appraiser does have the permission of GBRMLS to use the chart above Subdivision Price Trends Report!

Tags: Baton Rouge Estate Appraisers, Baton Rouge FHA Appraisers, Baton Rouge Housing Market, Baton Rouge Real Estate, Baton Rouge Real Estate Housing, Baton Rouge Real Estate Trends,

http://www.batonrougerealestateappraisers.net/ – Baton Rouge Housing Trends: Shenandoah Hills Subdivision 2010 Home Prices Increase!

Solds In Shenandoah Hills Subdivision from 1/2010 to 12/31/2010 revealed:

Average Sales Price: $146,357 ($133,260 in 2009)
Average Sold Price Per Sq. Ft.: $108.12/sf ($99.34/sf in 2009)
Median Sold Price: $149,500 ($132,500 in 2009)
Number of Sales: 7 (5 in 2009)
Average Number of Days On Market: 44 (48 in 2009)
Low To High: $129,900 to $152,000
Number of Sold REO/Foreclosures Noted In MLS: 0
Current # Listings: 3, 0 Are Foreclosures
Current Listings Price: $140,900 to $150,900 or $105 to $113/sf

The Median Sales Price has increased from $132,500 in 2009 and $144,000 in 2008 to $149,500 in 2010.

NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of January 1, 2010 to December 31, 2010. This information was extracted on 1/1/2011. YES, this appraiser does have the permission of GBRMLS to use the chart above Subdivision Price Trends Report!

Tags: Baton Rouge Estate Appraisers, Baton Rouge FHA Appraisers, Baton Rouge Housing Market, Baton Rouge Real Estate, Baton Rouge Real Estate Housing, Baton Rouge Real Estate Trends,

http://www.batonrougemarketmetrics.com/ – Baton Rouge Housing: Monticello Subdivisions Market Update For 2010 in 70814

I recently completed 2 home appraisal assignments in Monticello Subdivision this week, both on Monticello Boulevard, and noticed these observations. There appears to be some decline due to REO or foreclosure activity. The Average Sold Price Per Sq. Ft. is down $6/sf and Median Sales Price is down $5,000 from 2009 versus 2010. AND, 5 of the 12 Current Listings are Foreclosures with more at least 2 more foreclosures that could be on the market later in 2011.

Solds In The Monticello Subdivisions from 1/1/2010 to 12/16/2010 revealed:

Average Sales Price: $138,580 ($154,573 in 2009)
Average Sold Price Per Sq. Ft.: $85/sf ($91/sf in 2009)
Median Sold Price: $145,000 ($150,500 in 2009)
Number of Sales: 15 (20 in 2009)
Average Number of Days On Market: 64 (96 in 2009)
Low To High: $82,000 to $169,000
Number of Sold REO/Foreclosures Noted In MLS: 3 or 20% of All Sales
Current # Listings: 12, 5 Are Foreclosures or 42% of All Listings
Current Listings Prices: $89,900 To $175,000

The 15 sales in in this very large subdivision in 2010 versus the 20 in 2009 reflects the current slowdown of this market post Federal Tax Credit Expiration. Without the tax credit, there doesn’t appear to be as much incentive to purchase a home. This slowdown in homes sales in a trend throughout the Baton Rouge housing market in latter 2010.

NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of January 1, 2009 to December 16, 2010. This information was extracted on 12/16/2010.

Tags: Appraisers Baton Rouge, Appraisers in Baton Rouge, Baton Rouge Estate Appraisers, Baton Rouge Estate Settlement Appraisers, Baton Rouge Home Appraisers, Baton Rouge Housing, Baton Rouge Housing Market, Baton Rouge Probate Appraisers, Baton Rouge Real Estate, Baton Rouge Real Estate Buzz, Baton Rouge Real Estate Minute, Baton Rouge Real Estate Trends

http://www.batonrougerealestateappraisers.net/ – Tremendous Opportunity in Greater Baton Rouge Pre-Foreclosures – Buyer Beware!

Tremendous Opportunity in Pre-Foreclosures – Buyer Beware! This was an email I received today and found the advice helpful!

“Real estate professionals, investors, and others that know a good opportunity when they see one, realize that today’s real estate market holds tremendous potential for helping them to reach their financial goals. If you’re thinking about jumping into this market, it’s important that you do your homework before investing, to ensure that you’re as happy after your purchase as you were before. Here are some pitfalls to avoid if you’re thinking about jumping into today’s market.

Don’t Get Loan Pre-Approval – One of the fastest ways of failing with a pre-foreclosure investment is by having no clear idea of how you’ll close the deal. Lenders want to know that they’re dealing with legitimate buyers. One of the best ways of establishing credibility with the lender in a pre-foreclosure property is to know how much you can spend. This will also allow you to pull the trigger quickly once the lender says it’s a go, which is critically important for lenders that need to move quickly.

Avoid Getting Accurate Comps – Comps – also known as comparative values – are used by potential buyers and lenders in establishing the actual value of a property. If your comparative values are flawed, you might overpay for the property, and not know it until it’s too late. Determining property value is somewhat formulaic; plug in the wrong number and the results are as deeply flawed as any politician.

Invest in High-foreclosure Areas – One of the quickest ways to get in over your head with pre-foreclosures is by investing in high-foreclosure areas. While the prospect of multiple properties in a given neighborhood might have some appeal, a closer examination of the facts shows that this is a bad investment strategy for one very good reason: too many foreclosures can mean that property values are going to decline even more, leaving you in control of a property that is worth less than you paid for it.

Guess at Repair Costs – This sounds like a no-brainer, but some investors have purchased real estate site unseen. With better market conditions, it might have made sense, but in today’s environment, you must know what your repair costs will be. Pre-foreclosures have a higher incidence of deferred maintenance and other repair issues, but in most cases, you can inspect the property prior to making a purchase decision. Take advantage of this opportunity, and accurately estimate repair costs. You’ll be in a better position to make a decision as to whether you want to move forward once you’re armed with the facts.

There are no guarantees when buying pre-foreclosures. This type of investment is relatively simple: Locate pre-foreclosure properties, negotiate a short sale (or other purchase) transaction with the borrower and their lender, close the deal, and either hold it for cash flow and potential appreciation or sell it for a quick profit (assuming you can buy it at a price that permits a fast re-sale at a good price). But to find pre-foreclosures, you need information, the kind you can find at www.defaultresearch.com“

http://www.batonrougerealestateappraisal.com/ – Baton Rouge Real Estate Appraisers: Why do some houses sit on the market while others sell?

Here’s an interesting video by Jay Papasan, an executive of Keller Williams Realty. We see “Jay” on the month “This Month In Real Estate US: November 2010″ videos on YouTube. In this video, Mr. Papasan explains why some houses just sit there on the market while others sell, which is an appropriate topic for locals now that the expiration of the Federal tax credit means a lot homes locally are just sitting.

I thought his explanations were helpful explanations. The visual displays of these concepts of his x/y axis were helpful as well.

I’m curious to hear the experience of both home owners and real estate agents as to what if Mr. Papasan is explaining is reality locally? Any ideas on what it would take for homes to sell faster? Are locals just waiting for a bottom before buying or is there something more going on in their psyche – more of a concern about what’s taking in Washington, DC than a concern for the Baton Rouge economy maybe?

You can follow Jay Papasan on Twitter at @jaypapasan, and on Facebook @ http://www.facebook.com/jaypapasan . Mr. Papasan is also coauthor of The Millionaire Real Estate Agent, The Millionaire Real Estate Investor & SHIFT.

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