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
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Baton Rouge Real Estate: Are dead grass lawns common in subdivisions where you are?
http://www.batonrougerealestateminute.com/ – Baton Rouge Real Estate: Are dead grass lawns common in subdivisions where you are?
Yesterday, I created this video below of a local subdivision named “Comite Hills West” and posted it to my Baton Rouge Real Estate Minute Video blog.
This morning, I woke up to an email question from an appraiser colleague in the Northwest (Washington State), an appraiser I respect and have joked with over the past 3 years (so my reply is slightly in a joking manner as well). He asked,
“Bill……….Are dead grass lawns common in subdivisions where you are, in that subdivision? In your video, the homes look nice and presentable, but the lack of attractive front landscaping is interesting. What’s the ‘back story’ of this area?? It appears that no property has underground sprinklers with automatic timers. And if watered manually, most folks don’t. Is the cost of water really expensive??“
I honestly didn’t know exactly how to reply. Around here, most locals let Winter be Winter. And, in these two photos below, the vegetation doesn’t look totally dead (photos taken in January 2011).


This was my response below:
“I’m really not sure how to answer your question. Around here, we call it Winter. Winter here started early for us, unseasonably cold and lots of rain, I mean lot of it. It’s rained here for the past 2 days and now it’s 26 this morning (wind chill 20), which is really cold in Louisiana. So, there’s no reason to water lawns around here in the winter. Last frost is generally right around Easter and then we’re off to warmer weather and beautiful lawns. Actually, it was T-Shirt weather last Saturday.
Do you live in a golf community up there where all what you’re describing is common? Or, do they plant rye grass up there to make lawns remain green? I guess Washington State is more used to the Winter death of vegetation, but except for the pine trees here, most of our vegetation dies and looks like what you see. And, if we don’t weed-and-feed our lawns and flower beds, the weeds take over. I did weed-and-feed last September.
Now I’m curious! With the exception of California, Nevada, Arizona and Florida, where in the U.S. during Winter do lawns and flower beds look beautiful? Isn’t Winter for the purpose of dying off vegetation, kind of like pruning a tree, so that in the Spring they comes back beautiful?
So, the answer is Yes. Around here it’s pretty dreary looking in terms of lawns, from November through mid March. In fact, in February, I’m supposed to put out “Amaze“, a granular fertilizer that helps our lawn and beds come back weed free and earlier.
Comite Hills West is an upper middle class subdivision in the $200K to $350K range, around 34 years old with some newer 11-15 yr old homes as well. The amazing thing about Comite Hills West was that it saw “11″ home sales in 2010. Of these 11 sales, 1 was REO, 2 were relocation sales and 1 was a short sale. These “4″ sales helped the sold price per sq. ft. dive from $81.24/sf in 2009 down to $76.15/sf in 2010.
The local market has slowed considerably since the Federal Tax Credit Expiration. However, the wealthy here locally HAVE NOT generally been affected and they continue to buy homes on lots in the Garden District for $312K, tear them down and build McMansions with cash. It’s the middle class that’s feeling this downturn the worse.
And, in the Garden District, maybe 1713 Ingleside Dr, 1574 Longwood Dr, and 1279 Longwood Dr are the types of lawns you’d rather see, not so dead in Winter (photos taken in January 2011). But then again, on the same streets are 1165, 1166 and 1914 Ingleside Dr that look dead. I guess around here, most folks just let Winter be Winter. Not really sure.


Thank you for asking.
Bill”
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Baton Rouge Homes: Millbrook Subdivision 2010 Home Sales Price Trends
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,
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Baton Rouge Appraisers: Monticello Subdivisions Market Update For 2010 in 70814
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
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Tremendous Opportunity in Greater Baton Rouge Pre-Foreclosures – Buyer Beware!
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“
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