http://www.denhamspringsappraisers.com/ – Denham Springs Antique District Rated Third In The South By AAA Southern Traveler

The following below is directly quoted from The Livingston Parish News Mobile Section.

“DENHAM SPRINGS – Introducing the South’s Best Antique Districts: New Orleans, Natchez and Denham Springs. That’s right, Denham Springs.

These cities are rated one-two-three in a poll published this month in AAA Southern Traveler.

More than 1,300 ballots from members of the nation’s largest motor travel club were used to determine what places were their favorites to visit, eat, play and shop. The bi-monthly magazine circulates to 220,000 American Automobile Association member households.

“That’s amazing,” said Al Bye, president of the Denham Springs Antique Merchants Association. “I’m pretty proud of that because I’ve been working with the association 10 years now. It was always good, but we have really banded together as merchants to make it a unique antique district. That’s because we want to get people to come back. Our business depends on it.”

The famous stretch of antique stores along Magazine and Royal streets in New Orleans were far and away the most popular, followed by the historic river city of Natchez in Mississippi. Yet then came small town Denham Springs, which has been quietly growing its reputation for flair in recent years, receiving similar recognition in other tourism forums.

“A very big congratulations to the Denham Antique District,” Mayor Jimmy Durbin said. “A designation like this does not happen without hard work by the Antique District Merchants Association and Denham Springs Mainstreet.”

Donna Jennings, the Mainstreet program director, said the recognition is part of a larger trend of improvements that will soon see upgraded paver brick sidewalks downtown – construction beginning next week – and a street park developed by volunteer organizations next to Old City Hall on Mattie Street.

“When you have a dedicated mayor and council determined to keep that area thriving, then a merchant’s association and a main street committee, it works,” she said.”

http://www.batonrougerealestatebuzz.com/ – Baton Rouge Real Estate Video: Keller Williams Reports On This Month In Real Estate U.S. July 2010

http://www.appraisersindenhamsprings.com/ – Denham Springs Home Appraisers: Woodland Crossing Mid Year 2010 Housing Report

Solds In Woodland Crossing from 1/2009 to 7/3/2010 revealed:
Average Sales Price: $149,374
Average Sold Price Per Sq. Ft.: $92/sf
Median Sold Price: $147,150
Number of Sales: 110
Low To High: $99,900 to $210,000
Number of Sold REO/Foreclosures Noted In MLS: 7
Current # Listings: 31, 2 Are Foreclosures
Current Listings Prices: $129,500 To $199,900

Author’s Bio:

Bill Cobb is Greater Baton Rouge’s home appraiser frequently called upon by banks, homeowners, and savvy real estate investors to assess property values. A home appraiser with 18 years experience, Bill Cobb brings a wealth of knowledge to the table as a home appraiser.

Bill’s company, Accurate Valuations Home Appraisal Group, serves Greater Baton Rouge (East Baton Rouge Parish, West Baton Rouge Parish, Western Livingston Parish and Northern Ascension Parish).

Contact Bill Cobb and Accurate Valuations Home Appraisal Group for your next home appraisal:

Office: 225-293-1500, Cell: 225-953-0638

Fax: 1-866-663-6065

info@accuratevg.com

http://www.accuratevg.com/

Data Used With Permission of the GBRAR MLS. Data was extracted on 7/3/2010 from periods 1/1/2009 through 7/3/2010.

http://www.denhamspringsappraisers.com/ – Denham Springs Home Appraisers Photos From Field: Fire Demolished Home in Fountainbleau Subdivision

I was in Fountainbleau Subdivision yesterday performing a “Pre-Listing Appraisal” and noticed that fire had damaged that home at 10055 Angela Dr. The before photo is a photo I had on file.

http://www.denhamspringsappraisers.com/ – What are your Denham Springs Real Estate Subdivision questions at mid year 2010? Which Western Livingston Parish subdivisions do you want an update on? Email us at info@accuratevg.com

http://www.batonrougerealestateappraisal.com/ – Buying A Baton Rouge Foreclosure? Watch This Renovation Loans Video By Real Estate Broker John Jones.

http://www.gbrprelistingappraisals.com/ – Baton Rouge Homeowner Loses $15,000 By Not Getting Pre-Listing Appraisal

Another Baton Rouge Homeowner Loses Money By Not Getting Appraisal. In June 2010, a Greater Baton Rouge homeowner is losing $15,000 in equity, selling FSBO or For Sale By Owner, by not getting a Pre-Listing Appraisal. No, this isn’t a distressed sale.

http://www.batonrougerealestateappraisal.com/ – May 2010 Baton Rouge Housing Video: Numbers Show A Stable Market

Today is June 9, 2010 and by this time, the solds for May 2010 would have been reported within the local GBRAR MLS related to the $8,000 Tax Credit. The video below was prepared by Tony Zito, with Zito Real Estate Group, and shares the number of pending sales for each month from February 2010 to today on June 8 2010. Tony also shares the sales for each May from 2004 to this past May 2010. Be sure to check out Tony’s Blog @ http://perfectbatonrougerealestate.com/

The questions in my mind are these:

1.) What impact did the $8,000 Tax Credit have on Greater Baton Rouge area home sales in 2010 leading up to the April 30 deadline? In the video below, I think you’ll find that it had a significant impact on local home sales.

2.) Was our market functioning based solely on this government stimulus and will home sales drop off after this stimulus has been removed? The answer to this question and concern will be answered by the market in the coming months.

http://www.denhamspringsappraisers.com/ – Crystal Lakes Denham Springs: An Appraiser’s Perspective

Denham Springs resident and home appraiser, Bill Cobb, offers comments and advice on the holding pattern that Crystal Lakes has been in since this development began in approximately 2007.

I’ve watched Crystal Lakes for years now as my family and I have visited North Park and as I’ve driven down Burgess Road on my way to appraisal appointments. I knew why those first 5 and only homes weren’t selling and it had everything to do with “PRICE” in this Livingston Parish market. Let me say here and now that I believe Crystal Lakes will be a very nice development for the residents of Denham Springs when it’s more aligned with the overall pricing and quality that local residents can afford, which includes the $600/yr HOA Fee.

The developer is Spatz Development out of Chicago. I was told back in 2006 by Livingston Parish Builder, Dennis Calmes, that Spatz Development first went to New Orleans after Hurricane Katrina and told the City that they’d like to help with the reconstruction of new homes. It was told to me that NOLA basically told Spatz that it would take at least a year or two before he could obtain his permits to build. So, Spatz Development bought the land for Crystal Lakes where it was much easier to do business. Spatz Development was trying to accomplish a positive thing for the local community. But, like other local developers in the past 4 years, Spatz Development overshot the anticipated price these homes would eventually sell for in a market that turned to more affordable housing options – a market where $136/sf+ for new home construction isn’t and wasn’t at all sustainable. Maybe in California where incomes are higher, but not in Livingston Parish Louisiana and not in other parts of Greater Baton Rouge either.

I recently appraised one of the 5 homes on Adora Ave in Crystal Lakes for a sale….approximately 3 years after this home was built. Why? One local Realtor I spoke with for this report said it had to do with “PRICE”. They stated that the developer built the 5 homes in 2007 and then tried to sell them by builder for something like $145/sf. The Realtor Active Rain Network shows a blog post back to 2/5/2008, Denham Springs Crystal Lake Development Is On Fire!, but according to MLS, it wasn’t until early 2009 when these homes were finally listed in MLS.

Trying To Be Too Much? YES! According to the Realtor I spoke with and MLS, the 5 homes range in living area size from 1,528sf all the way up to 3,125sf living area. That’s too wide a variance when the listing prices ranged from $189,900 to $435,000 on the same street, within 5 lots of one another. ADVICE: Build homes closer in living area size and closer in pricing!

Too High Of Quality? YES! Oh Yes, these are high quality homes, quality you might see in the garden homes section of Greystone Golf where residents pay $150/sf+. Was building this high of quality in this Denham Springs market a mistake? Obviously since it’s taken 3 to 3.5 years to sell just 2 of these 5 homes, it was a mistake. NOTE: 2 of the 5 homes are currently pending. ADVICE: Lower The Quality Some To Lower The Price To Make These Homes More Affordable!

It’s Very Easy To Build Too High Of Quality Homes For Denham Springs Market! As I said about Juban Parc and other developments in Western Livingston Parish, this market is 80% affordable type housing served by DR Horton and PCC/Vicknair Builders. What’s selling in bulk now in Livingston Parish in terms of new homes is in the $135,000 to $150,000 range. This was all explained in the recent Baton Rouge Business Report article, The Real Estate Mogul Of Livingston Parish and I don’t refute the findings in that article. Mr. Thomason is building and providing housing that people can actually afford. He’s meeting a need that builders that expect $130/sf to $150/sf for their homes are not meeting. He’s a smart man that builds homes based on the incomes of the local residents and knows what they can afford as opposed to the builders that think they’re entitled to $136 + per sq. ft..

Mr. Thomason is so confident that he can continue to meet that need better than other builders that he purchased $10,000,000 in lots in 2009 in Ascension Parish. And, Mr. Thomason is selling homes in bulk while other local builders aren’t doing nearly as well as in the insane local housing markets of late 2005 to early 2008, with builders expecting $136/sf+ for their homes. That was then and this is the much more sane 2010s. $128/sf+ in Livingston Parish generally doesn’t work as some builders AND THEIR BANKS have found out the hard way. The residents that bought those higher quality homes in Juban Parc early on are learning this lesson the hard way as well.

Other Homes In Crystal Lakes!

MY ULTIMATE ADVICE! According to the Realtor I spoke with representing Crystal Lakes, the plan is to make the homes both smaller and similar in size. My advice would be to make this development similar to the home size and quality found in Willow Pointe S/D off Hatchell Lane, where the homes range in size from 1500sf to 1800sf and in pricing from $170K to $214K. In this appraiser’s opinion, Crystal Lakes would be more desirable of a development than Willow Pointe because of the older section of Kemberly Heights one has to drive through to get to Willow Pointe and that onerous left turn onto Hatchell Lane in the mornings. However, Willow Pointe is closer to Florida and closer to Interstate 12, which makes a big difference when there are no plans in action whatsover to make the commute from Crystal Lakes to Florida Blvd or Interstate 12 less grueling. That 2 mile difference in the mornings and evenings can seem like an eternity in the worsening traffic of Denham Springs. Traffic in Denham Springs is a complete nightmare and it doesn’t appear that much of anything is being done to to help us wake up from this daily nightmare. Why is Hatchell Lane still a 2 Lane road in 2010? I better quit now!

Bill Cobb, with Accurate Valuations Group, is and has been a local home appraiser for 18 years now.

http://www.southpointappraiser.com/ – Denham Springs South Point Subdivision Least and Most Expensive Home Sales In 2010

It’s almost the halfway mark into 2010, June. So far into 2010, what were the lowest and highest home sales prices? In South Point in 2010, there have been 19 sales from $120,200 up to $198,500.

LOWEST HOME SALES PRICE IN SOUTH POINT IN 2010

The lowest sales price was at 23938 Teakwood Dr, a home I inspected for an REO or Foreclosure Appraisal. This home sold 2/19/2010 for $120,200 or $81.77/sf. It has 1,470sf living area with 3 bedrooms and 2.5 bathrooms.

HIGHEST HOME SALES PRICE IN SOUTH POINT IN 2010

The highest sales price was at 23750 Rosemont Dr. This home sold 5/28/2010 for $198,500 or $81.42/sf, the price reported in MLS (see corrected price below). It has 2,438sf living area with 4 bedrooms, 3 bathrooms and an expensive “Gunite” swimming pool. NOTE: The seller paid $6,000 in concessions or had to pay the buyer $6,000 to buy their home from them. Because the seller received $6,000 less at the closing table than $198,500, the actual sales price that an appraiser will use is $198,500 minus $6,000 for $192,500 or $78.96/sf. The GBRAR MLS reports gross sales price without correctly and automatically deducting seller paid concessions. However, appraisers do deduct seller paid concessions and now FHA is very wisely implementing new rules to strictly limit seller paid concessions on their deals.

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