Summerfield Subdivision Denham Springs 2011 Housing Numbers. It used to be that homes in Summerfield sold in the $110/sf to $112/sf range. That was then and this is a new housing market in 2011.

Here are the Summerfield Subdivision housing numbers from end of December 2010 to end of December 2011. Average sales price was down from $192,380 in 2010 to $174,150 in 2011 or -9.5%. Median sales price was was down from $189,500 in 2010 to $175,000 in 2011 or -7.7%. However, the average sold price per sq. ft. was only down $2.42/sf or -2.45% from $98.58/sf to $96.16/sf.

Distressed Properties To Blame For Decline. I suspect part of this decline was due to 2 of the 5 total sales being 1 foreclosure and 1 short sale or 40% of total sales. And, Summerfield is simply correcting in price along with the remainder of Greater Baton Rouge Housing.

Denham Springs Summerfield Subdivision 2011 Comprehensive Housing Report. NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of 01/24/2011 to 01/24/2012. This information was extracted on 01/24/2012.

The statistics below are based on the same GBRMLS data and reveal totally different results, which may not be accurate based on the actual MLS chart above. Since there were no sales in December 2010 and December 2011, some of the data is incomplete.

Summerfield Subdivision Denham Springs LA 2011 Housing Report

The Legal Name of this development at the Livingston Parish Courthouse and in filing records is Westminister Estates, meaning the sign is wrong. Here are the Westminister Estates housing numbers from end of December 2010 to end of December 2011. Average sales price was down from $149,880 in 2010 to $140,293 in 2011 or -6.4%. Median sales price was basically unchanged. However, the average sold price per sq. ft. had a -$10.43/sf decline from $91.52 in 2010 to only $81.09/sf in 2011.

Foreclosures To Blame. I suspect part of this decline was due to 7 of the 15 total sales being foreclosures or 47% of total sales. This means that of the 15 total home sales, 7 were in some form of distress.

Denham Springs Westminister Estates Subdivision 2011 Comprehensive Housing Report. NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of 01/16/2011 to 01/16/2012. This information was extracted on 01/16/2012.

The statistics below are based on the same GBRMLS data and reveal totally different results, which may not be accurate based on the actual MLS chart above.

Dec-10 vs. Dec-11: The median sold price is down 11%

Dec-10 vs. Dec-11: The median price of for sale properties is up 3% and the median price of sold properties is down 11%

Dec-10 vs. Dec-11: The number of Sold properties has not changed

Dec-10 vs. Dec-11: The number of Under Contract properties is down 100%

Dec-10 vs. Dec-11: The number of New properties is down 50%

Dec-10 vs. Dec-11: The number of For Sale properties is down 44%

Dec-10 vs. Dec-11: The number of Expired properties is down 100%

Dec-10 vs. Dec-11: The number of for sale properties is down 44% and the number of sold properties has not changed

Dec-10 vs. Dec-11: The average days on market is down 100%

Dec-10 vs. Dec-11: The average months supply of inventory is down 100%

Denham Springs Westminister Estates Subdivision 2011 Comprehensive Housing Report

Here are the South Point housing numbers from end of December 2010 to end of December 2011. Some of the data isn’t showing up because there were no sales in December 2010 or December 2011. For this reason, I’m providing the GBRMLS Stats Chart as well, which should state 32 total sales for 2011. Both the Average and Median Sales Prices plunged in 2011 with double digit declines based on “32″ total home sales. Average sales price was down from $150,394 in 2010 to $130,606 in 2011 or -13%. Median sales price was down from $150,750 in 2010 to $129,900 in 2011 or -14%. I suspect part of this decline was due to 11 of the 32 total sales being foreclosures and 2 being 3rd Party Sales (relocation) and 2 short sales. This means that of the 32 total home sales, 15 were in some form of distress.

Denham Springs South Point Subdivision 2011 Comprehensive Housing Report

Dec-10 vs. Dec-11: The number of New properties is down 25%

Dec-10 vs. Dec-11: The number of For Sale properties is up 12%

Dec-10 vs. Dec-11: The number of Expired properties is down 20%

Dec-10 vs. Dec-11: The number of for sale properties is up 12% and the percent change in the number of sold properties is up 50%

Denham Springs South Point Subdivision 2011 Comprehensive Housing Report. NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of 01/16/2011 to 01/16/2012. This information was extracted on 01/16/2012.

Here are the Woodland Crossing housing numbers from end of December 2010 to end of December 2011.

Dec-10 vs. Dec-11: The median sold price is down 4%

Dec-10 vs. Dec-11: The median price of for sale properties is up 7% and the median price of sold properties is down 4%

Dec-10 vs. Dec-11: The number of Sold properties is down 67%

Dec-10 vs. Dec-11: The number of Under Contract properties is down 67%

Dec-10 vs. Dec-11: The number of New properties is up 200%

Dec-10 vs. Dec-11: The number of For Sale properties is down 46%

Dec-10 vs. Dec-11: The number of Expired properties is down 82%

Dec-10 vs. Dec-11: The number of for sale properties is down 46% and the number of sold properties is down 67%

Dec-10 vs. Dec-11: The average days on market is down 26%

Dec-10 vs. Dec-11: The average months supply of inventory is up 113%

Denham Springs Woodland Crossing Subdivision 2011 Comprehensive Housing Report

Denham Springs Woodland Crossing Subdivision 2011 Comprehensive Housing Report. NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of 01/16/2011 to 01/16/2012. This information was extracted on 01/16/2012.

The Coyle Group Philly Appraisal Blog has written an interesting article on residential bankruptcy appraisals I wanted to share with Greater Baton Rouge residents. The link to this article is: Why is an appraisal needed during Bankruptcy?

Mr. Coyle states, “During bankruptcy the debtor (the person or entity defaulting) is required by the court to demonstrate the worth of their assets. Since the debtor’s real estate holdings are, oftentimes, their largest asset a real estate appraisal is required.”

If you need a local Greater Baton Rouge Home Appraisal for Bankruptcy purposes, call Accurate Valuations Group at 225-293-1500 or Click the Order An Appraisal button here or above, fill the order out and send it in and we’ll be in touch very soon. Thank you, Bill Cobb, Appraiser

Tags: Baton Rouge Real Estate, baton rouge homes, baton rouge houses, Baton Rouge Appraisal Greater Baton Rouge Appraisal, Greater Baton Rouge Appraisers, Baton Rouge Appraisers, Baton Rouge FHA Appraisers, Baton Rouge Bankruptcy appraisals, Baton Rouge date of death appraisal, baton rouge estate appraisal, baton rouge probate appraisal, baton rouge tax appeal appraisal

As the country shakes off the effects of the worst economic recession in recent history, RE/MAX Chairman and Co-Founder Dave Liniger sees good news for homebuyers and sellers in 2012. Source: YouTube http://www.youtube.com/watch?v=I-mqj4iZlOs

Western Livingston Parish has experienced a high “272″ foreclosures with the most by far occuring in the $100K to $149K range, which is some reason for concern as the predominant price range of home sales are in the $140,000 to $170,000 range.

This is a series of Five (5) total articles with accompanying videos posted to “Foreclosure Studies” category. Article One covered entire Greater Baton Rouge Foreclosure Housing Market Trends. Article Two covered East Baton Rouge Foreclosure Housing Market Trends. This is article Three covering Ascension Parish Foreclosure Housing Market Trends. This is article Four covering Western Livingston Parish Foreclosure Housing Market Trends. The last article the Parishes within GBR market and are found within this drop down category on the right side of site.

NOTE: REO is real estate owned or foreclosure. GBR is Greater Baton Rouge and includes EBR, WLIV, ASC and WBR. EBR is East Baton Rouge Parish. ASC is Ascension Parish. WLIV is Western Livingston Parish areas 81,82,83. WBR is West Baton Rouge Parish. See detailed GBRMLS parameters at bottom, which are generally from 06/01/2010 to 11/05/2011, All residential properties.

Preface….We’re In a $170,000+/- housing market and 74% of Foreclosures Are Under $150,000! Various online sources tell us that median sales price in Baton Rouge is $172,750 (Trulia.com). Zillow.com states average listing price as $163,000. Altos Research reports median sales price of $169,035, see their chart below, and chart showing sharp, very obvious and undeniable correction still taking place. GBRMLS reports the average 2011 sales price for ALL homes in EBR, LIV, ASC and OTHER as $192,504 YTD, down from $196,428 for 2010 or -2%. Point is that majority of local housing activity takes place in $172,500 to $192,500 price ranges and that 74% of REO or Foreclosure activity of under $150,000 isn’t absolutely a problem for the majority of market! That’s Right! Currently, 74% of current foreclosure listings inventory is priced below $150,000. And, REO Solds percentages for EBR, ASC, LIV and WBR have been 81%, 57%, 82% and 75% respectively priced under $150,000.

East Baton Rouge Parish, experiencing the most local REO problems with 498 REO home sales under $100K, illustrates how lopsided the results. In EBRP, 61% of the 821 REO Sales here under $100K and concentrated in neighborhoods not necessarily where the majority of EBR residents live. This chart below shows of all current GBRMLS listings, only 9% are REOs and that of that 9%, 38% of those are pending leaving 62% still active. So, out of 4,928 local listings, only 292 are available as REOs.

REO LISTINGS ONLY TOTAL 9% OF GBR LISTING INVENTORY. REO Listings only make up 8% of total listings and 38% of them are pending. Of the total 4,928 total listings, 473 or 9% are REO listings. Of those 473 listings, 181 are pending or 38%, which is good news. Only 62% of REO Listings inventory is available and not pending.

HOW MANY FORECLOSURES SOLD? REO Solds for ALL 4 Parishes total 1320 or 16% of ALL Sales. EBR had 821, ASC 200, WLIV 272 and WBR 27 REO Sales. Yes, while EBR does have the larger percentage of sales, it’s also a vastly larger market than surrounding Parishes.

WLIV REO LISTINGS TOTAL 9% OF WLIV LISTING INVENTORY. REO Listings only make up 9% of total listings and 26% of them are pending or under contract or purchase.

WHAT’S THE SIGNIFICANCE OF THIS STUDY AND REALITY TO GREATER BATON ROUGE HOUSING? The answer is this chart below!

The significance is that whether a local Home Appraiser is appraising or Real Estate Agent is marketing a home in Western Livingston Parish (Denham Springs, Watson, Walker) in Glenwood, Acadiana Place or Woodland Crossing, the GBR REO situation generally does apply to those markets according to chart above. In fact, the chart above shows that the vast majority of homes sold were in the $130,000 to $140,000 range, well below the GBR Area average. The chart above shows that the majority of all home sales take place in the $110,000 to $170,000 range.

CHARTS BELOW. These Charts below illustrate that the majority of WLIV foreclosure sales have taken place under $150,000.

Western Livingston Parish Sold Foreclosures Chart Shows 82% of REO Solds Were Under $150,000.

Western Livingston Parish Foreclosure Pending Listings As Percent Of Total Listings Is 26%

Western Livingston Parish Sold Foreclosures Chart Shows 17% of All Solds Were REOs.

Western Livingston Parish Foreclosure Listings As Percent Of Total Listings Is 9%.

NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of June 1, 2010 to November 5, 2011. This information was extracted on 11/05/2011.

Spring Lake Subdivision, with approximately 285 lots, is situated around 2 development lakes available for home owners only. There’s fishing and enjoying the the park-like green areas.

Location Map:

Public School District Information:

See: http://www.lpsb.org/district/district.htm

Number of Lots:

Approximately 285 Lots with deed restrictions, Zoning “Rural” per Livingston Clerk of Court’s Office.

Home Sizes:

Per GBRMLS search, home living areas range from 1,500sf up to 2,688sf living area.

Average Sales Price, Median Sales Price and Average Sales Price as of 12/2011:

$183,333, $179,900 and $98.73/sf.

NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of 01/01/2011 to 12/28/2011. This information was extracted on 12/28/2011.

Subdivision Info: Greg and Daniel Bunch, Residents of Spring Lake

Denham Springs Real Estate Video News

Why Baton Rouge Housing Reports?

Because a home is the largest, most important investment most locals make in their lifetimes. Because of the importance of getting this decision right, housing market facts, trends and analysis are provided to help locals execute competent, informed home purchase or home selling decisions.

There’s a new Premier web video resource in Baton Rouge with a residential focus: Baton Rouge Housing Reports Dot Com. This site offers the good news in our market as well as the on-going correction, tips on what improvements really add value, local REALTOR® video update of the month, local real estate expert interviews, local remodeler’s tips, trends videos, monthly and quarterly reports, Top 150 Subivisions trends, current housing charts and stats, gbrmls stats, local NAR stats, special investigative series and a long list of local online resources. Visit Us for the scoop on local housing.

Baton Rouge Housing Reports Dot Com – Local Real Estate Professionals Providing Trends, Analysis & Tips Helping Locals Make Informed Housing Decisions!

Keywords: Denham Springs, Livingston Parish, Baton Rouge Real Estate, Baton Rouge Homes, Baton Rouge Housing, East Baton Rouge, Greater Baton Rouge, Baton Rouge Realtors, Baton Rouge Real Estate Agents, Baton Rouge Homes For Sale, Baton Rouge Home Appraiser, Baton Rouge Home Appraisal

What Are These Baton Rouge Vote For Amendment #1 To Stay Tax Free Signs About?

The Louisiana REALTORS® Association is supporting a constitutional amendment on the November 19th ballot to prohibit any new real estate transfer taxes in the state.

A vote FOR Amendment #1 on November 19 will…

*Protect your home from double taxation. Most homeowners in Louisiana already pay property taxes. Transfer taxes are simply another tax on the same piece of property.

*Keep Louisiana free from additional taxes, especially those that unfairly target homeowners and homebuyers.

If approved by Louisiana voters, we believe this will be an extremely positive development for residential and commercial consumers of real estate – and good for the overall real estate market and economy in Louisiana.

Monitor this important initiative thoughout the fall at STAYTAXFREE.com. Browse the site for related news, background on the issue, answers to frequently asked questions, and learn how you can get involved.