November 2009

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Fannie Mae Tightens Denham Springs Underwriting Criteria

November 30, 2009 in Denham Springs Home Appraisers, Denham Springs Homes, Denham Springs Real Estate, Denham Springs Real Estate Appraisers, Denham Springs Realtors, Livingston Parish Homes, Livingston Parish Real Estate by http://www.denhamspringsappraisers.com/ | No comments

http://www.denhamspringsappraisers.com/ – Fannie Mae Tightens Denham Springs Underwriting Criteria

According to the Louisiana Realtors eNews Digest, Fannie Mae is tightening underwriting guidelines. The Fannie Mae Tightens article is here!

Here’s a snippet:

“Fannie Mae is tightening its underwriting criteria by raising the minimum credit score for automated underwriting (Desktop Underwriter) from 580 to at least 620 for all loans, justified on the grounds that this action “will support prudent risk management and better ensure sustainable homeownership.” Even higher minimum credit scores may apply for both manual and automated underwriting, depending on factors such as the loan-to-value ratio and the number of units in the structure. The minimum credit score applies to all mortgage loans delivered to Fannie Mae, including FHA and other government-backed loans. Fannie is also changing the maximum debt-to-income ratio for Desktop Underwriter to 45 percent, but will allow 50 percent if there are “strong compensating factors.” Other changes are also being made. For more information, view these related Fannie Mae documents:

Fannie Mae Announcement 09-29 (PDF file) Summary and FAQs (PDF file)”

Denham Springs Real Estate Question: Should Homeowner Invest $60,000 For A Pool and Landscaping On A $250,000 Home?

November 30, 2009 in Denham Springs Home Appraisers, Denham Springs Homes, Denham Springs New Homes Subdivisions, Denham Springs Real Estate, Denham Springs Real Estate Appraisers, Denham Springs Realtors by http://www.denhamspringsappraisers.com/ | No comments

http://www.denhamspringsappraisers.com/ – Denham Springs Real Estate Question: Should Homeowner Invest $60,000 For A Pool and Landscaping On A $250,000 Home?

As a home appraiser, I often see this type of scenario: Homeowner wants that swimming pool in the backyard with a lot of nice landscaping. That’s human nature to want nice features with your home, an outlet to help alleviate the monotony and stress of daily living after a hard days work, especially since many of the residential developments today aren’t designed for quality of life amenities, such as with walking and biking paths and trails. However, with a home value of $250,000, a $60,000 investment could bring your cost basis to $310,000 in a $250,000 neighborhood or 24% more than the average home in your subdivision. Would that be wise? Not exactly. Read more below.

There’s 2 answers to the above question: Is It Wise To Invest $60,000 For A Pool and Landscaping On A $250,000 Home?

1.) If money is no object to you and you plan on living and enjoying that home for the rest of your life (not moving), then make that investment because a $50,000 IG Pool is rarely a wise investment. One exception could be a pool installation in a high-end development in the $500K to $1,000,000 range. But the question is for the $250K range. Realize that the market (buyers) don’t pay dollar-for-dollar for such improvements as IG Pools or Landscaping. My 18 years experience as a home appraiser has shown me consistently that the market pays between 15% to 33% of the original cost of these improvements, depending on how nice they are and prevalence of such neighborhood amenities. If you live in a 300 home subdivision and only 5 homes have pools, then the likelihood of your return is much lower. If you live in an older neighborhood where pools were once the amenity to own but are now being filled in with dirt, then that should help one make their decision. It seems that the new the home and neighborhood and the newer the Pool, the more value it adds. So, if you want to spend $50,000 on an upscale gunite pool and only get back maybe $7,500 when you sell, then make that investment knowing this about the market’s reaction to such an amenity and investment.

greater baton rouge aerial map

The Red Circles Represent IG Pools Installed – A High Prevalence Of IG Pools. Before Installing An IG Pool, Research To Find Out The Prevalence Of IG Pools In Your Neighborhood. It’s likely that the more pools, the more a buyer would be willing to pay for such an amenity.

2.) If your investment dollars are counted carefully and you don’t plan on living in that home for more than 3 to 10 years, then such an investment would probably not be wise.

In conclusion, a $60,000 investment on the outside of your home is rarely going to reward you with a dollar-for-dollar reward paid by the buyer at the time of sale. It’s a major over-improvement that “might” return 1/4th to 1/3rd of your original investment. It’s best to find out this answer from an appraiser than a pool salesperson…..Enough Said!

greater baton rouge gunite pool

$50,000 Gunite In-Ground Swimming Pool

greater baton rouge landscaping

$10,000 In Newer Landscaping

So, You Might Ask, Where’s The Best Place To Invest Money In My Home For The Best Reward? Stay Tuned To Find Out More. Here’s A Hint: Place Little Reliance On Those Cost-Reward Guides That Tell You If You Invest $15,000 Adding A New Bathroom, Your Reward Will Be $30,000. Those Guides Are Written By The Same Industry That Wants To Add That New Bathroom To Your Home, not from the appraiser that exactly examines the market to determine the true value of such an improvement.

Author’s Bio:

Bill Cobb, CREA, is Greater Baton Rouge’s favorite and most reputable home appraiser frequently called upon by banks, homeowners, and savvy real estate investors to assess property values. A home appraiser with 18 years experience, Bill Cobb brings a wealth of knowledge to the table as a home appraiser.

Bill’s company, Accurate Valuations Home Appraisal 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

Staff Email: fastvalue2@cox.net

http://www.appraisersindenhamsprings.com/

Twelve Home Improvements That Didn’t Reward: Could These Apply To Denham Springs Market?

November 30, 2009 in Denham Springs FHA Appraisers, Denham Springs FHA Home Appraisers, Denham Springs Home Appraisers, Denham Springs Homes, Denham Springs New Homes Subdivisions, Denham Springs Real Estate, Denham Springs Real Estate Appraisers, Denham Springs Realtors, Livingston Parish Homes, Livingston Parish New Homes, Livingston Parish Real Estate by http://www.denhamspringsappraisers.com/ | 1 comment

http://www.denhamspringsappraisers.com/ – Twelve Home Improvements That Didn’t Reward: Could These Apply To Denham Springs Market?

Justin Pierce has written an article on “12 Improvements That Didn’t Pay: Learn From These Rehab Mistakes” where he warns homeowners not to over-prove their homes. This article is certainly worth reading for locals as well. This appraiser also asked a similar question in a recent article on over improving your home: “Greater Baton Rouge Real Estate Question: Is It Wise To Invest $60,000 For A Pool and Landscaping For A $250,000 Home?”

wood deck

Here’s a snippet:

“Here are the Big 12 ill Advised Home Improvements I Made

1.) Shower Jets: $1,600 – We didn’t have room to put a jetted tub in the master bath. So I had the bright idea to install shower jets instead.

2.) Marble Tile: $800 – We decided that we wanted to give the master bathroom a little sizzle. So we decided to go with full marble tile floor and surround. It cost us about $800 more that the original ceramic tile quote.

3.) Slate Sidewalk and Porch: $4,600 – Landscaping is always risky. We wanted to really give the house some curb appeal. It did look nice. I wouldn’t do it again.

4.) Sidewalk Removal: $950 – There was a cement walkway right down the middle of the yard. We didn’t like how it cut the yard in two. We had it removed.

5.) Redo the Path at the Side of the House: $800 – I won’t take any credit for this one. My partner got fixated on the side of the house. I told him to breath and let it go but when I came back from a trip I found that he’d ordered a new concrete path and grass in this area. The $800 is just the sidewalk.”

Certified FHA Home Appraisers in the City of Denham Springs Louisiana

November 30, 2009 in Denham Springs FHA Appraisers, Denham Springs FHA Home Appraisers, Denham Springs Home Appraisers, Denham Springs Homes, Denham Springs New Homes Subdivisions, Denham Springs Real Estate, Denham Springs Real Estate Appraisers, Denham Springs Realtors, Denham Springs Subdivision Videos by http://www.denhamspringsappraisers.com/ | No comments

ACCURATE VALUATIONS LOGO Border http://www.fhaappraisersbatonrouge.com/ – Certified FHA Home Appraisers in the City of Denham Springs Louisiana

Office: 225-293-1500 or 1-888-678-3544

Fax: 1-866-663-6065

Staff Email: fastvalue2@cox.net

Bill Cobb, Accurate Valuations Group Appraiser, has operated as a home appraiser for 18 years now primarily in the Greater Baton Rouge, Louisiana market. Bill performs Conventional, FHA and RD/Rural Development home appraisals. For more information on Accurate Valuations Home Appraisal Group, visit FHA Appraisers in East Baton Rouge, West Baton Rouge, Ascension & Livingston Parishes.

Our Service Areas: All of East & West Baton Rouge, Western Half of Livingston Parish (Denham Springs, Walker, Watson & Livingston) and Northern Ascension Parish (Prairieville, Gonzales, Geismar, Saint Amant, Sorrento)

LSU’s And Denham Spring’s Coach Dwyane “Beetle” Bailey’s Famous LSU Baseball College World Series Talk Download

November 29, 2009 in Denham Springs FHA Appraisers by http://www.denhamspringsappraisers.com/ | 1 comment

http://www.billcobbsuccess.com/ - LSU’s Coach Dwyane “Beetle” Bailey’s Famous LSU Baseball College World Series Talk Download

This is a talk that Coach gave to the leadership of The Pentecostals of Alexandria Church in Alexandria, LA, in 2002. He talks about the lessons learned on the way to LSU’s 2 College World Series Victories and 5 College World Series Trips During His Tenure – FOCUS! It’s a very powerful message!!! Coach had a command in his voice and the gift of story telling that had one on the edge of their seats! Enjoy! We Miss You Coach Bailey!

Download Coach’s Message Here by Right Clicking Here and Saving Mp3 To Desktop

Coach Beetle Dwayne Bailey LSU

Coach Dwayne “Beetle” Bailey (1945-2005)

Published By LSUSports.net 12/12/2005:

“BATON ROUGE — Former LSU baseball assistant coach DeWayne “Beetle” Bailey died in Baton Rouge early Monday morning after a four-month battle with cancer. He was 60 years old.

Funeral arrangements are listed below for Bailey, who resided in Denham Springs, La., with his wife, Lydia. He is also survived by his children — Jennifer, Brett and Elizabeth — and six grandchildren.

Bailey, an LSU assistant coach from 1988-95, helped lead the Tigers to national championships in 1991 and 1993 under head coach Skip Bertman. Bailey served as an LSU athletics administrator until his retirement from the university in August, 2001.

“Beetle was a joy to be around, and he was an excellent baseball coach,” said Bertman, who is now LSU’s athletics director. “He was a wonderful human being, and he touched so many lives in a significant way. I was very happy to have the opportunity to work with a man like Beetle Bailey.”

Bailey joined the LSU coaching staff in July, 1987 following seven highly successful years as head coach at Denham Springs High School, where he also served as principal. While at Denham Springs High, he coached all-state pitcher Ben McDonald, who later became a first-team all-American at LSU and was the first player selected in the 1989 Major League Baseball Draft.

Bailey’s administrative skills and coaching expertise were extolled by Bertman when he appointed Bailey as the Tigers’ hitting instructor and recruiter for the state of Louisiana. Bailey worked as an LSU assistant coach from 1988-92 before serving as the baseball program’s administrative assistant in 1993. He resumed his assistant coaching duties in 1994 while also assuming the role of LSU’s chief nationwide recruiter.

During Bailey’s eight-year tenure on the baseball staff, the Tigers registered a 397-146-1 (.731) mark, including the 1991 and 1993 national championships, five College World Series appearances and four Southeastern Conference titles.

Under Bailey’s tutelage, the 1990 Tigers set a school record with a .325 team batting average and collected an SEC-record 807 hits. Bailey later coached two of the greatest hitters in LSU history — current major leaguers Todd Walker and Russ Johnson — as each player earned first-team all-America honors under his supervision.

Bailey posted a 140-34 record in his seven-year tenure at Denham Springs High, and in 1984 his squad was the Louisiana Class 4A runners-up. In addition to being named the Louisiana High School Coach of the year that season, Bailey was a five-time District 7-4A Coach of the Year.

Bailey was the founder of the Louisiana Baseball Coaches Association (LBCA), a 400-member group comprised of professional, collegiate, high school and amateur organization coaches throughout the state. He was inducted into the LBCA Hall of Fame in January, 2003.

Bailey earned his bachelor’s degree in 1968 from Southeastern Louisiana University, where he played football and baseball, and he obtained his master’s degree from SLU in 1974.”

Tags: coach beetle bailey, lsu baseball

Six Marketing Strategy Caveats for Denham Springs Real Estate Agents

November 29, 2009 in Denham Springs Real Estate, Denham Springs Realtors, Greystone Golf Community, Livingston Parish Real Estate by http://www.denhamspringsappraisers.com/ | No comments

http://www.denhamspringslarealestate.net/ - Six Marketing Strategy Caveats for Baton Rouge Real Estate Agents

Chris Brunner is the featured Active Rain “Rainmaker” for Sunday, November 29, 2009 with his post, Six Marketing Strategy Caveats for Real Estate Agents! Here’s a snippet:

“1) Have a plan for the plan.

Before you do anything else, map out how you intend to execute your new plan and how you intend on measuring results. Develop an entry and exit strategy for your marketing plan. Think of a few ways that you may be able to make slight adjustments along the way to maximize your effectiveness.

realtor marketing strategy

2) If it isn’t broke, don’t fix it.

If what you’ve got going is working well, why change? I admit it’s good to try new things, but be careful not to abandon what you’ve already got. The saying goes, you don’t know what you’ve got until it’s gone applies.

As an alternative, test different approaches for a small segment of your marketing list. I believe that 10% is a good number to test on. Use 10% of your time and capital for experimenting, the other 90% for things you know work well. Run a campaign and gauge the results. If successful, apply this tactic to increasingly more of your list while not forgetting what already works.

3) Measure your results to determine what works best for you and your situation.

It is imperative with any marketing campaign to accurately measure results. How could you possibly make a good decision as to what is and is not working if you don’t have accurate figures?”

Baton Rouge In Top Ten Housing Markets For Third Quarter 2009

November 26, 2009 in Denham Springs FHA Appraisers, Denham Springs FHA Home Appraisers, Denham Springs Home Appraisers, Denham Springs New Homes Subdivisions, Denham Springs Real Estate, Denham Springs Real Estate Appraisers, Denham Springs Subdivision Videos by http://www.denhamspringsappraisers.com/ | No comments

http://www.batonrougerealestateappraisal.com/ - Greater Baton Rouge In Top Ten Housing Markets For Third Quarter 2009

baton rouge fha appraisers

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.”

FHA Appraisers Denham Springs Report On South Point Subdivision Statistics For 2009

November 21, 2009 in Denham Springs FHA Appraisers, Denham Springs FHA Home Appraisers, Denham Springs Home Appraisers, Denham Springs Homes, Denham Springs New Homes Subdivisions, Denham Springs Real Estate, Denham Springs Real Estate Appraisers, Denham Springs Subdivision Videos by http://www.denhamspringsappraisers.com/ | 3 comments

http://www.southpointappraiser.com/ – FHA Appraisers Denham Springs Report On South Point Subdivision Statistics For 2009 Based On Both:

AVERAGE SALES & LISTING PRICES FROM 11/2008 to 11/2009:

South Point Subdivision Market Trends 2009 Based On Average Sales Listing Price 400

average

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MEDIAN SALES & LISTING PRICES FROM 11/2008 to 11/2009:

South Point Subdivision Market Trends 2009 Median Indicators 400

median

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Tags: Denham Springs, Denham Springs Appraisers, Denham Springs FHA Appraisers, South Point Subdivision

Tags: South Point Subdivision

Denham Springs FHA Appraisers Crestwood Subdivision Video Tour

November 21, 2009 in Denham Springs FHA Appraisers, Denham Springs FHA Home Appraisers, Denham Springs Home Appraisers, Denham Springs Real Estate, Denham Springs Real Estate Appraisers, Denham Springs Realtors by http://www.denhamspringsappraisers.com/ | 1 comment

http://www.denhamspringsappraisers.com/ – Denham Springs FHA Appraisers Crestwood Subdivision Video Tour.

FHA Appraisers Denham Springs Report: FHA Loan Limits to Remain Same Through 2010

November 3, 2009 in Denham Springs FHA Appraisers, Denham Springs FHA Home Appraisers, Denham Springs New Homes Subdivisions, Denham Springs Real Estate by http://www.denhamspringsappraisers.com/ | No comments

http://www.denhamspringsappraisers.com/ – FHA Appraisers Denham Springs Report: FHA Loan Limits to Remain Same Through 2010

FHA Approved Baton Rouge Accurate Valuations Group 225 293 1500

FHALoanPros.com is reporting that FHA Loan Limits To Remain Same Through 2010. The article link is here. Here’s a snippet from the article:

“Current loan limits for FHA home loanshave been extended through the end of 2010. This move is expected to help ailing US housing markets by extending the availability of FHA loans to homebuyers and homeowners in higher priced markets. FHA loan limits are based on 125 percent of local median home value, and vary by location. With the demise of sub prime lending, FHA plays a significant role in providing home loans for borrowers who cannot meet conventional mortgage lending requirements. Challenges can include:

Moderate income: FHA allows higher housing expense to income (31 percent) and debt to income (43 percent) ratios than conventional mortgage lenders. Thee ratios, sometimes called front-end and back-end ratios, are determined by dividing borrowers’ estimated housing expenses by gross income, and dividing total installment debts by gross income. FHA also allows non-resident co-borrowers (such as parents) to sign as co-borrowers for primary borrowers needing income assistance. FHA guidelines are generally more lenient than conventional lending requirements.”