January 2010

You are currently browsing the monthly archive for January 2010.

http://www.southpointappraiser.com/ - Denham Springs FHA Appraiser Report: Per MLS Data, South Point Subdivision Foreclosure Rate Appears To Be Rising!

The MLS Data Chart Below Shows That From 1/1/2007 to 12/31/2009, there were 7 REO or Foreclosure Sales out of 187 total sales, or a 3.74% foreclosure rate.

south point subdivision denham springs reo rate remains low

south point reo rate

Per MLS Records, A 3.74% REO Rate doesn’t appear to be an indication that REOs are negatively impacting this market.

HOWEVER, It’s also stated here that a 2009 article (The Landmines Within by Michael Tarabotto
http://activerain.com/blogsview/930436/The-Landmines-Within ) stated that as much as 70% of REOs never make it into the MLS. MLS is reporting TWO (2) comparable REO listings. However, since it’s possible that 70% of REOs and/or Sheriff Sales never make it into the MLS System, it’s almost impossible to know exactly how many competing REOs there really are out there. Clearly, the only way to know the exact number of sold foreclosures in South Point since 1/1/2007 is to sift through the Legal News records, which would take hours to accomplish.

In The Map Below, Realtytrac.com is showing 11 Current Foreclosures (Pre-Foreclosures, Sheriff Sales, Bank Owned) on Teakwood Dr, Springhill Dr (2 Properties), Sandlewood Ct, Rosemont Ave, South Point Dr (2 Properties), Wellington Ave, S Park Ln, Snowdon Ave and Sunny Brook Ln. This is a higher rate than South Point has experienced in the past. 11 Current Foreclosures helps validate the point made above. While MLS is only reporting 2 current MLS REO listings, there are actually 11 or 5.5 times more than MLS is reporting.

south point denham springs fha appraisers

 

 

 

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South Point Entrance Signhttp://www.southpointappraiser.com/ - Denham Springs Home Appraisers Report On South Point Subdivision End of 2009 Home Sales Report. In 2009, per MLS Records, there were 37 total sales in South Point ranging from $112,000 up to $198,000 with a median sales price of $145,000 for all of 2009.

south point subdivision denham springs fha appraisers

Solds In South Point Subdivision from 1/1/2009 to 12/31/2009 reveal:
Average Sales Price: $146,497
Average Sold Price Per Sq. Ft.: $93.29/sf
Median Sold Price: $145,000
Low Sales Price: $112,000
High Sales Price: $198,000
Average Number of Days On Market: 89
Number of Sales: 37

The Chart Below Shows South Point Sales Activity from 1/1/2007 to 12/31/2009, a total of 180 MLS sales.

south point subdivision denham springs end of 2009 report

south point subdivision denham springs end of 2009 report2

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South Point Entrance Signhttp://www.southpointappraiser.com/ – Denham Springs FHA Appraisers: Southpoint Subdivision ACC Spotlight Email – January 2010

Dear Fellow Southpoint Homeowners/Tenants,

Spotlight of the Month – Construction Plans for Additions, Sheds, Fences, etc.

Greetings! We hope that you and your family have had a cherished and happy holiday season. As the new year comes to a start, we wish each you a healthy and prosperous 2010. The new year also brings about thoughts of home improvement as well.

The ACC would like to remind you that in accordance with Paragraph 9 of the Amended and Reinstated Restrictive Covenants that no residence or building of any kind, including sheds, storage units, garages, or carport coverings, driveways, or fence, which improvement extends above ground level, shall be erected, placed, altered, or permitted on any Lot unless and until the construction plans, specifications, elevations, and a plan showing the location for the structure shall have been approved in writing by the Architectural Control Committee.

Please begin to submit the ACC submission forms to ensure your home improvement plans are improved in time before you plan to commence construction. You can find the form on the website here. Please allow for up to 4 weeks for processing.

Fine Amount:
Violation – Fence Construction, Shed or Workshop
Compliance – Required within 3 Days
Amount – $250 per day/$1,500 max of 6 days

What is the Architectural Control Committee?

The Architectural Control Committee (“ACC”) of Southpoint Subdivision is established to maintain the quality and desirability of Southpoint by overseeing the compliance of the Restrictive Covenants of SPHA.

The ACC is charged with carrying out the general plan of the subdivision and to ensure that we maintain a high standard of appearance within the neighborhood. The ACC is separate and autonomous (i.e., the right or power of self-government; undertaken or carried on without outside control; existing or capable of existing independently; responding, reacting, or developing independently of the whole) to the Board of Directors although it works closely with the Board.

Need to Report a Restrictive Covenant Violation?

Click here to visit the ACC section of Southpoint Subdivision’s website and use one of the forms in the top left hand corner.

Got Feedback?

We love to hear from homeowners on thoughts to improve the subdivision. Feel free to email the ACC if you need assistance or clarification regarding the responsibilities of the committee.

Want to Improve Southpoint Subdivision?

Your Homeowner’s Association would love to have your time! There are many committees that make up your homeowner’s association. Click here to check out the committees. Many responsibilities require a minimal time investment of 1-2 hrs per month.

Your home is typically your largest investment, help improve the subdivision. Be involved and volunteer! Email the ACC or the Board to get started today.

Additional Information:

Southpoint Website – www.southpointsubdivision.com
ACC Email – accspha@gmail.com
Southpoint Board Email – southpointboard@gmail.com

“9. No residence or building of any kind, including sheds, storage units, garages, or carport coverings, driveways, or fence, which improvement extends above ground level, shall be erected, placed, altered, or permitted on any Lot unless and until the construction plans, specifications, elevations, and a plan showing the location for the structure shall have been approved in writing by the Architectural Control Committee. The Architectural Control Committee shall review the plans to confirm the exterior design is harmonious with existing structures, and the location is acceptable with respect to topography and finished grade evaluation. Heavy-duty plastic constructed storage sheds (e.g., Rubbermaid brand) are acceptable and should be placed in the rear portion of the Lot behind the residence. No fence or wall shall be erected, placed or altered on any Lot closer to any street than the minimum building setback line of twenty-five (25’) feet, nor any nearer to any street than the location of the front of the house. The minimum roof pitch shall be six (6’) feet on twelve (12’) feet.”


Architectural Control Committee
Southpoint Homeowner’s Association, Inc.
P. O. Box 1496
Denham Springs, LA 70727-1496
225-610-9578
www.southpointsubdivision.com

Southpoint Subdivision – Building Not Just a Neighborhood, But a Community!

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