(NOTE: This Photo, Taken in 10/2009, Shows New Construction By More “Economy Builders” Priced Below $200,000 Is Still Fairly Brisk Within The Outlying Areas Of Greater Baton Rouge Itself. This is the “New” New Construction Baton Rouge housing market, a market that is much more affordable in pricing. And, this is what is selling. Some of those builders that thought buyers would just keep paying $136/sf to $160/sf and never stop are the ones still holding inventory, paying interest and their banks are sometimes taking it on the chin. In new home construction, in general, under $200K is moving fairly well; Over $250K is Still Not Selling As Fast As It Did in 2006/2007. AND, these $200,000 new homes in the photo are being built in a “former” high end subdivision where the predominant values were $350,000 or about $135/sf. The new price per sq. ft. for the remaining 85% of lots is going to be in the $96/sf to $106/sf. OUCH!!!)

Mark Perry, with Wall Street Pit Global Market Insight, is reporting, along with Business Week, that Baton Rouge Real Estate in 2009 is within THE 20 Strongest Performing Metro Areas in the U.S.. The link to the article is here. A Snippet includes:

“BUSINESS WEEK (”The U.S. Metros Least Touched by Recession”) – America’s strongest economies have one thing in common — home prices that never got too hot or too cold (see charts above comparing the home price index in California to Arkansas, Texas and Oklahoma over the last ten years).

Home prices in metros such as San Antonio, Oklahoma City, Pittsburgh, Rochester, Little Rock, Ark., and Baton Rouge, La., remained steady through boom and bust. Although no metropolitan area entirely avoided the economic downturn, the most resilient metros were protected by a potent mix of recession-resistant jobs.

The upstate New York areas of Syracuse, Rochester, Albany, and Buffalo suffered from declining jobs in manufacturing, but got significant boosts from sizable health-care, education, and government sectors. Construction is booming in Baton Rouge, Louisiana’s capital, as firms take advantage of financing for post-Katrina hurricane recovery work and service-related companies expand to meet the needs of a growing population. Omaha and the state of Iowa have relatively strong insurance sectors.

Texas, the last state to enter recession, has been bolstered by its oil and gas industries — which have also helped Oklahoma, North Dakota, and Louisiana. Texas also has many other things going for it, including affordable home prices and relatively low wages, which attract corporations.”

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The Drawing for this beautiful St. Jude Dream Home is November 1, 2009. Buy your tickets today @ http://www.stjudedreamhome.org/.

Local News Wafb.com is reporting on Satsuma growth, article link and video is here. Here’s a snippet from the article:

“SATSUMA, LA (WAFB) – Many people know Satsuma only as an exit off I-12. But within the year, real estate brokers predict the exit will explode with business. That’s where the new North Oaks complex is being built. Three strip malls have been ready for occupancy for almost a year, but only two businesses have moved in. So what’s the holdup?

Since last year, heavy machinery has been pushing dirt in Satsuma. With a hospital going up at the same exit, the developer anticipated a boom in business, and several shopping centers were constructed.

“We’ve done really well. We’ve been here since May. Business has picked up a lot,” says Ginger Roy, an employee of Ashley Renee Bridal. The shop is one of two new businesses now calling Satsuma home. For this shop, being the first on the block is something they’ve been through before. For nearly two years, Roy says they were the only store in a shopping center in Frost.”

Jack Blalock was a teacher in the Tangi-School system of Agriculture and was a supporter of the FFA in the Tangi-School system. As was testified during the funeral, although Jack and Vertalee couldn’t have children, Jack was a father to the fatherless. Uncle Jack loved kids and coached the local baseball team. He and Vertalee, as a couple, were the kind of people that gave their lives in support of their community. And, their community loved them. I remember attending their 50th Wedding Anniversary in the VFW Hall and it was jammed packed with people. If I’m not mistaken, between the Wake and Funeral, there were over 400 to 500 that came to pay their respects. As I started this in memory, Loranger buried their HERO last week. And, I was reminded once again of “who” the backbone of this great country really is….the hardworking, dedicated citizens that live daily for the commitments they made many years ago! We’re going to miss you, Uncle Jack! Bill Cobb

……And, NO, there was no President Obama there to apologize for what our great Country stands for.

A resident of Loranger and native of Alexandria, he died at 3:40 p.m. on Monday, Oct. 5, 2009, at his home. He was 88 and a retired agriculture teacher of 40 years at Loranger High School, an Army veteran of World War II and coached Little League baseball for many years. He was a member of Oak Grove Church of Christ, the Loranger American Legion post and a past member of Loranger Ruritan Club. Mr. Blalock won numerous medals in the Senior Olympics. He was a Future Farmers of America adviser and avid hunter. He played football, ran track and played baseball at Southeastern Louisiana University. Visitation at McKneely Funeral Home, Amite, on Wednesday from 6 p.m. to 8 p.m. Visitation will continue at Oak Grove Church of Christ, Independence, on Thursday, Oct. 8, from 9 a.m. until religious services at 10:30 a.m., conducted by Brother Dale Ziebarth. Interment in Loranger Cemetery, Loranger. He is survived by wife of 61 years, Vertalee Hayden Blalock, Loranger; two brothers, Leon Blalock and Charlie Blalock, both of Alexandria; two sisters, Francis McCain, Chicago, and Essie Marie Smith, Alexandria; and numerous nieces and nephews. He was preceded in death by father and mother, James Marion Blalock and Mary Essie Stewart Blalock; a brother, James Marion Blalock Jr.; and two sisters, Maude Jones and Elizabeth Moreaux. For an online guestbook, visit www.mckneelys.com.

Tony Zito (Zito Real Estate Group Baton Rouge) has some interesting new numbers regarding comparisons of 09/2008 versus 09/2009 showing a +46% increase in home sales (374 vs 547). While this is positive, one must remember that in 09/2008, there was a sharp decline of home sales due to Hurricane Gustav. The 09/2009 are encouraging at 547 home sales for the month, shows this market is improving. 09/2007 numbers were 655, so we’re only off 16% from the 2007 highs…..VERY ENCOURAGING!

Actives and Pending aren’t moving significantly. Actives/Pendings on 9/5/09 were 3694 and 1057. Actives/Pendings on 10/5/09 were 3647 and 1006.

10/05/09
Active-3647
Pending-1006

09/05/09
Active-3694
Pending01057

Solds:
Sep 09-547
Sep 08-374
Sep 07-655
Sep 06-841
Sep 05-1766
Sep 04-635

Source: Tony Zito, Zito Real Estate Group and GBRAR MLS (Data Used With Permission).

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