Did Great Flood Send Denham Springs Livingston Parish Home Prices Lower? Absolutely…initially! As median sales price chart below illustrates, prices have declined from $165,000 to $156,000 since January 1 2016 because of the $25,000 to $125,000 sales prices of flooded damaged homes. However…see below HOWEVER, sales prices of flooded-renovated Western Livingston Parish homes would blow your mind. It’s as if today’s post-flood home buyers don’t have any context as to what homes were worth pre-flood…and some of the problems inside subdivisions like Shadow Springs. This is in part due to low inventory, not enough homes available to purchase, and lack of homes or apartments available to rent. This is driving buyers to desparation and some are OVER PAYING for local housing. Of the 15 GBRAR MLS sales so far, 11 have sold on average for $13.45 per sq. ft. MORE than pre-sold prices and 4 have sold on average for $6.25 per sq. ft. LESS than pre-sold subdivision prices. This means so far, 73 percent of sales have been positive and above pre-flood prices. Another example is what’s taking place in Richmond Place Subdivision where home sales prices are UP! Are Watson home values higher after the flood? At least Continue reading Did Great Flood Send Denham Springs Livingston Parish Home Prices Lower?
Livingston Parish Home Sales Stats 2013 to 2016 and have Livingston Parish home sales price DECLINED since the flood? Prepare for home price spikes! From 2013 to 2016, Livingstonge home sales have generally increased from 1498 in 2013 to 1947 in 2016 or 30%. The median days on market or time it takes to sell a home has declined from 54 days to 31 days. And, after the flood, flooded-renovated homes are generally selling in under 10 days. Sold price per square foot has risen from $97 in 2013 to $106 in 2016. Includes Detached Single Family, Attached Single Family and Manufactured Housing Have Livingston Parish home sales price DECLINED since the flood? Absolutely as median sales price declined from $165,000 to $156,000 since January 1 2016 because of the $40K to $100K sales prices of flooded-gutted homes. However, sales prices of flooded-renovated Western Livingston Parish homes would blow your mind. It’s as if today’s post-flood home buyers don’t have any context as to what homes were worth pre-flood…and some of the problems inside subdivisions like Shadow Springs. This is in part due to low inventory, not enough homes available to purchase, and lack of homes or apartments Continue reading Livingston Parish Home Sales Stats 2013 to 2016
Bill Cobb Appraiser has released a Richmond Place Subdivision Denham Springs Watson Home Sales Update 2016-2017, Prices Increasing in 2017 Are Watson home values higher after the flood? At least in Richmond Place where it did not flood and those subdivisions competing with Richmond Place style and quality homes, they are higher. With low inventory, the 1998sf Evangeline Meridian PCC plan is listed at $189,900 with 2 pendings. There’s sort of this debate on Facebook about whether home prices are up post flood. To some extent they are, but this isn’t the same run up as the post Katrina market either. In this example comparing median sales price of $164,000 to current $175,950, that’s an increase of 7.2%. HOWEVER, see the chart below showing in May 2015, median sales prices were at $175,000 meaning this increase into 2017 is a recovering market. Have ALL Watson homes increased 7.2% since 12 months ago? I don’t know as it wouldn’t be a fair comparison to compare non-flooded subdivisions with flooded subdivisions. Only time and recovery will determine where prices go from here…and there’s almost no flooded-repaired sales in MLS to know yet. Richmond Place Home Sales Trends 27 Sales Continue reading Richmond Place Denham Springs Home Prices Increasing in 2017
Livingston Parish 2016 Home Sales Stats By Subdivision Name, A Suburb of Baton Rouge. Study includes all residential sales for all types of single family properies in 2016. Study by Bill Cobb Appraiser 225-293-1500 and http://www.denhamspringsappraisers.com Overall in 2016, Livingston Parish real estate experienced a good year with lower inventory forcing increasing prices…until the Great Flood, see chart below. In November 2015, the median sales price was $163,000 which peaked in August at $184,000 only the slide down to $155,000 in November 2016. I believe this correction in home prices could last longer than surrounding Parishes because Livingston was so hard hit by the Great Flood. And, as the experts have stated, it could take up to two years for flood damaged inventory to be repaired and absorbed back into this market. Livingston Parish 2016 Median Home Solds Prices Chart Source: Based on data used with permission of the Greater Baton Rouge Association of REALTORS / MLS from 11/1/2015 to 11/30/2016, extracted on 12/30/2016. Here’s the list of Livingston Parish subdivisions experiencing home sales in 2016, as provided and defined by Greater Baton Rouge Association of REALTORS, along with the statistics of these sales. Pecan Creek Subdivision Correction: A manual Continue reading Livingston Parish 2016 Home Sales Stats By Subdivision Name
Settlers Rowe Townhomes Walker Louisiana Sales Trends 70785 2014 to 2015 Settles Rowe Town House Sales Trends Six Sales from $123,700 to $132,000 Median Sales Price $126,000 Average Sold Price: $127,200 Average Sold Price:$99/sf Homes Sold From $94/sf to $104/sf Average SP/LP% 98% Average Days On Market: 145 Days Average Home Size: 1,289sf The “Average SP/LP% 98%” or Listing To Sales Price Ratio means the average home sale sold for 2% less than listing price. Current Settlers Rowe Town Home Listing There’s 1 current active listing for $129,900 of a 1374sf unit that’s been on the market already for 159 days. by Bill Cobb Appraiser 225-293-1500 http://www.batonrougeappraisers.com Based on information from Greater Baton Rouge Association of REALTORS®\MLS for period 01/01/2014 to 12/31/2015, extracted on 1/12/2016
Will Waton Gravel Pit Lower Oak Hills Subdivision Denham Springs Home Values? Will Oak Hills Subdivision Watson Denham Springs 70706 home values decline because of this proposed gravel pit? “Only time and future home sales can answer this question and it’s far too early to make a judgment.” – Bill Cobb, Greater Baton Rouge’s Home Appraiser NOTE: I’ve received questions from 1 Oak Hills homeowners and 2 local REALTORS® about this situation. This is not the first time I’ve shared thoughts on this topic both privately or publicly. The first time was just after announcement July 22 when a concerned REALTOR® called to inquire. I am not publishing this to draw light to this issue rather to try to answer the obvious in this matter – the questions Oak Hills homeowners hold. I just received a phone call from a Local Agent about this topic for a purchase in Oak Hills. The answer is: Whatever influences are going on in a market, positive or negative, is already priced into that market. This being a new situation, it will take time and future Oak Hills home sales to determine “IF” this gravel pit so close will negatively impact home values. See Continue reading Will Waton Gravel Pit Lower Oak Hills Subdivision Denham Springs Home Values?
Autumn Run Subdivision Tour Walker Louisiana Real Estate Autumn Run Homes Tour in Walker LA Real Estate for Walker Louisiana by Walker LA Real Estate Home Appraisers, a part of Greater Baton Rouge Real Estate. For Walker LA Listing Price Appraisals or Walker Pre-Purchase Home Appraisals to make sure you’re not paying too much, visit http://www.gbrprelistingappraisals.com For the latest in Denham Springs LA Walker LA Western Livingston Parish housing news, visit: http://www.scoop.it/t/denham-springs-real-estate-news
DENHAM SPRINGS — Despite questions about their accuracy, new federal flood insurance rate maps will go into effect Tuesday, affecting thousands of Livingston Parish homeowners. Many people whose homes have never flooded will be required by their mortgage companies to buy insurance that could cost more than $1,000 a year. Meanwhile, others who have long been required to purchase flood insurance may no longer be required to do so, according to the Federal Emergency Management Agency. Parish President Layton Ricks questioned the accuracy of the new maps, which he said may force many people to buy insurance unnecessarily. Read the rest of The Advocate Newspaper article………. Via theadvocate.com