New Way To View Denham Springs Real Estate Housing News

The Scoop.It site is a new way to view a curated method of viewing local housing news and national news that impacts local housing. From videos to new listings to hoousing studies.

http://www.scoop.it/t/denham-springs-real-estate-news/

Woodland Crossing Subdivision Housing Market Report

Hi Bill Cobb, you’re a local Home Appraiser with Accurate Valuations Group 225-293-1500. I understand you just completed a home appraisal in my Denham Springs Subdivision, Woodland Crossing, last week?

Yes Cassie, that’s correct. You know, that’s a very large subdivision with how many homes? Like 750 Homes?

Yes, approximately 750 homes. Bill, value wise how is my subdivision doing during this local housing market correction? I heard 2011 was the Year of Correction for Greater Baton Rouge housing. I mean, aren’t home values still declining locally?

Yes Cassie, 2011 was the year of correction where GBR home values finally corrected from Post Hurricane Katrina highs. Based on a recent YouTube video from Livingston Parish Tax Assessor, Jeff Taylor, http://www.youtube.com/watch?v=zfa48ipb23w , a majority of Western Livingston Parish has experienced home price declines. Woodland Crossing continues to decline from 2008 highs of a median sales price of $156,000. From 2009 to 2012 Year To Date, the median sales prices has has declined to $147,400, $149,150, $139,900 and now $139,000 in 2012. The Average Sales Price has declined from $89/sf in 2008 to $84/sf in 2011 and $87/sf in 2012. In 2011, there were 47 sales, so sales aren’t necessarily slowing down. However, in 2012, the 5 sales this year have taken 237 days on the market to sell.

Wow Bill! 237 days is a long time. My, Woodland Crossing is still correcting. Bill, it seems like new homes are still being built, but they are smaller in size. Why is that?

Cassie, I believe it’s because the larger, more expensive homes in Woodland Crossing are less in demand and take longer to sell. Those are the types of homes that sit longer on the market and builders need to sell inventory fast to build more homes. For instance, the 5 home sales so far in 2012 took an average of 237 days to sell and averaged 1,603sf. However, the median sales price is $139,000, meaning more of the smaller 1200sf to 1500sf are being built and sold. As more and more new home inventory is added and sold at lower prices, this drags down the home prices of those that have already purchased homes in Woodland Crossing. So many new homes still being built is part of the reason home prices keep dropping.

Bill Cobb Appraiser, thank you so much for your insight into local housing trends. I now better understand what’s taking place in my subdivision! If I need a home appraisal in the future, how do I contact you?

Cassie, my contact information is 225-293-1500, email is info@accuratevg.com and website is www.accuratevg.com

NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of January 1, 2008 to February 18, 2012. This information was extracted on February 18 2012. This video is based on analysis of local housing numbers and trends.

http://www.youtube.com/watch?v=2DEnNQPSVls

Denham Springs Housing News: South Point Subdivision Denham Springs 2011 Housing Numbers.

South Point Subdivision Denham Springs 2011 Housing Numbers by Bill Cobb and Accurate Valuations Group.

Hi Bill Cobb, you’re a local Home Appraiser with Accurate Valuations Group 225-293-1500. I understand you just completed a home appraisal in my Denham Springs Subdivision, South Point, last week.

Yes Jill, that’s correct. You know, that’s a very large subdivision with how many homes. Like 700 Homes.

Yes. Bill, value wise how is my subdivision doing during this local housing market correction. I heard South Point values were down more than Woodland Crossing and other similar subdivisions.

Yes Jill, 2011 was the year of correction where GBR home values finally corrected from Post Hurricane Katrina highs. Based on a recent YouTube video from Livingston Parish Tax Assessor, Jeff Taylor, a majority of Western Livingston Parish has experienced home price declines. South Point continues to decline from 2008 highs when the median sales price was $151,500. From 2008 to 2011 Year To Date, median sales prices declined to $151,500 and now $129,000 in 2011. Average Sales Price has declined from $93/sf in 2009 to just $83/sf in 2011 based on 31 sales. So sales aren’t slowing down.

Wow Bill. South Point is still correcting. Bill Cobb Appraiser, thank you so much for your insight into local housing trends. I now better understand what’s taking place in my subdivision! If I need a home appraisal in the future, how do I contact you.

Jill, my contact information is 225-293-1500, email is info@accuratevg.com and website is www.accuratevg.com

NOTE: Based on information from the Greater Baton Rouge Association of REALTORS®\MLS for the period of January 1, 2008 to December 31, 2011. This information was extracted on January 16 2012. This video is based on analysis of local housing numbers and trends.

http://www.youtube.com/watch?v=hEdBqmxsro4

http://www.denhamspringsappraisers.com/ – RE/MAX Chairman and Co-Founder, Dave Liniger, reveals his top 10 predictions for the U.S. real estate market for 2012.

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