Four Upper End Walker LA 70785 Resales Per Deedfaxonline.com Non Foreclosures

Four (4) Upper End Walker LA 70785 Resales Per Deedfaxonline.com, Non Foreclosures

 

DECLINING Resales:

 

1.) 13469 Williamsburg Dr Lot 53 Sold
$244,900 12/2008, resold $235,000 07/2012
Loss: $9,900.
If traditional 6% Real Estate Commission is deducted of $14,100 seller paid, this is a loss of -$24,000
Deedfaxonline.com COB 1026/981 and
1135/738
GBRMLS#B1200554

 

TRUE LOSS: -$24,000

 

2.) 13314 Brookcrest Dr Lot 63 Sold
$260,500 3/2008, resold $225,000 11/2011
Loss: $35,500.
If traditional 6% Commission is deducted of $13,500 seller paid, this is a loss of -$49,000
Deedfaxonline.com
COB 1002/471 and 1117/080
GBRMLS#B1103630

 

TRUE LOSS: -$49,000

 

________________________________________________________

 
GAINER Resales…But Ultimately Loses For Sellers After Paying Real Estate Commission To Sell Home:

 

1.) 13306 Brookcrest Dr Lot 64 Sold
$236,500 5/2009, resold $239,000 7/2012,
Gain: $2,500.

If traditional 6% Commission is deducted of $14,340 seller paid, this is a loss of -$11,840
Deedfaxonline.com COB 1036/929 and
1112/670
GBRMLS#B1100344

 

TRUE LOSS: -$11,840

 

2.) 13244 Williamsburg Dr Lot 105 Sold
$210,000 3/2011, resold $219,500 7/2012
Gain: $9,500.
If traditional 6% Commission is deducted of $13,170 seller paid, this is a loss of -$3,670

Deedfaxonline.com COB 1097/350 and
1136/582
GBRMLS#B1207990

 

TRUE LOSS: -$3,670

 

________________________________________________________

 
20% LOT VALUE DECLINE IS A BIG DEAL FOR THOSE THAT BOUGHT A LOT EARLY ON WITH PLANS TO BUILD LATER:

 

Early on when first developed, Legal News shows lot sales
prices from $47,000 up to $60,000 to $65,000 for lake or pond lots with the
majority being in the $50,000 non lake lots range to Builders.  These were
clearly post Hurricane Katrina high prices.  Legal News shows lot sales in
2012 to be:
$37,000 for Lot 60, Lake Lot
$40,000 for Lot 101
$40,000 for Lot 102
$37,500 for Lot 119
$37,500 for Lot 120
$45,000 for Lot 139, Lake Lot
$45,000 for Lot 140, Lake Lot
$44,900 for Lot 143, Corner Lot

$45,000 for Lot 153, Lake Lot
$45,000 for Lot 154, Lake Lot

With the $45,000 lots the more prime lake or pond lots that sold early on in high $50’s up to $65,000.  The $65,000 lake lot sale was Lot 162 in 2008.  So, in 2012, non lake lots are “generally” selling  for $7,000 to $10,000 less than early development lot sales, which represents a decline of -20%.  And, lake lots are “generally” selling for $6,000 to $15,000 less than early development lot sales, which is a correction of at least -20%.

 

Related Posts Plugin for WordPress, Blogger...