EBR PARISH SOLD NEW Total 302 469 Total List $64,824,335 $115,892,871 Total Sold $62,464,905 n/a Average List $214,650 $247,106 Average Sold $206,837 n/a Average DOM 72 31 Median Price $177,000 $195,000 %SP/LP 96% n/a   Information Gathered From GBRAR MLS. 09/20/2008

When you or your handyman applies a fresh coat of paint to the new home you just purchased, you probably prefer to use a latex or water-based paint.  There are certain rules painting contractors use when preparing the pre-painted surface before applying fresh paint, to ensure proper adhesion, good coverage and a long-lasting finished project that will look great for years.  When applying fresh paint to an already painted surface, a good handyman will determine whether it was previously painted with latex or oil-based paint.  You could experience problems when painting with latex, if you're painting over a surface with oil-based paint, without first using a primer.  Most people just go ahead and prime when in doubt, however, painting contractors advise that it is better to have as few to... 09/19/2008

Vinyl flooring is a beautiful, long lasting, durable product that will withstand years of use and some abuse, but it can be permanently damaged if it is not cared for properly.  Here are some recommended handyman tips for maintaining your vinyl floor.   Wipe up all spills as soon as possible.  Regular mopping should be done with a no-rinse floor cleaner.  Use a floor stripper and cleaner for heavy duty cleaning and a no-wax shine keeper if it begins to dull over time.   Our handyman advises that you do not use detergents or abrasive cleaners.  Certain mop and shine products may leave a dull film on the floor.  Do not use paste wax or solvent-based polishes.  Do not vacuum with a beater bar because it can visibly damage the floor surface and do not use highly abrasive scrubbing tools.   ... 09/19/2008

Baton Rouge Weekend Events for Friday, September 19- Sunday, September 21, 2008! LSU Museum of Art Visit the newest exhibition "LSU Art: Past and Present" at the LSU Museum of Art in the Shaw Center Downtown.  This exhibit will be a rotating display of past and present talents of work by LSU art professors and their students including current professors Kelli Scott Kelley, Michael Crespo, and Duncan Ferguson.  The exhibition will be "thematic and works will be chosen to reflect aesthetic concerns, often combining work of both past and present faculty members and students.   The exhibit opened yesterday Thursday, September 18, 2008.  While at the Shaw Center also visit the "Through the Lens" exhibition which features 20th-Century Photography.  Visit the LSU MOA for more information. Live... 09/19/2008

I had an Endotontist appointment today with a Dr.  recommended by my current Dentist.  They think I need a root canal! Yuck!  I went to the appointment today and as I walked through the lobby I noticed an LSU Medical School diploma on the wall! Hot diggity! I like him already.  He's an LSU alumni too.   I anxiously waited in the patient chair!  We all love being told the grim news about root canals.  The Dr. walks in and says I heard we have something in common and I think you might understand my language and he says, "Hot boudin, cold coush coush, come on Tigers, poosh, poosh ..."    Aww memories of my college days gone bye.  I can't tell you how much fun I had at football games in "Death Valley" in college.  You'll have to send me a private message to find out when I went there.  The ... 09/18/2008

http://batonrougerealestateappraisers.com/ - SOME Baton Rouge Homeowners Facing High Deductibles of 2% to 5% of Home's Value To Pay For Hurricane Damages From Bill Cobb: While listening to WJBO Radio on 9/15/08, I heard this discussion about this issue, which I didn't know about.   On the radio, callers were calling in complaining about this surprise "hurricane deductible" and how some of them couldn't pay it.   A representative from State Farm Insurance did call in to say that for State Farm, this policy change of adding this "Hurricane Deductible" took effect 10/15/2007 and requires a "minimum" hurricane deductible payment of 2% of your home's value in order for the claim to be paid.  This is a change resulting from Hurricanes Katrina and Rita and affects the Coastal States from Flori... 09/15/2008

Interest rates are the lowest we've seen in 5 months, starting at around 5.5% today! What caused this?  The takeover of Fannie Mae and Freddie Mac by the Feds; the two mortgage firms will now be overseen by the Federal Housing Finance Agency.  The government will only temporarily control these firms until they "are on a stronger footing".  President Bush says of the takeover, "Americans should be confident that the actions taken today will strengthen our ability to weather the housing correction and are critical to returning the economy to stronger sustained growth in the future."  Read the article "U.S. Seizes Fannie and Freddie" by David Ellis at CNN Money for more. What does this mean for Buyers?  "Sunday's Federal takeover of Fannie Mae and Freddie Mac will likely translate into low... 09/15/2008

http://appraisersinbatonrouge.com/ - Baton Rouge Real Estate: Melrose Place Housing Market Trend Place? Melrose Place Market Direction: Up or Down?    I recently completed a home appraisal in Melrose Place Subdivision on Hermitage Dr and made this discovery below.  Solds In Melrose Place from 9/15/06 to 9/15/07 revealed:  Average Sales Price: $127,225Average Sold Price Per Sq. Ft.: $73.35/sfMedian Sold Price: $130,450Low Sales Price: $80,000High Sales Price: $169,800# of Sales: 12Average # of Days On Market: 49 Days On Market Living Area Sizes Ranged From 1,160sf up to 2,614sf, a variance of 1,454sf. Solds In Melrose Place from 9/15/07 to 9/15/08 reveals:  Average Sales Price: $142,449Average Sold Price Per Sq. Ft.: $66.90/sfMedian Sold Price: $149,000Low Sales Price: $80,245High Sales ... 09/15/2008

Another Day, Another Baton Rouge Homeowner Loses $9,000 In Equity Another day, another Baton Rouge homeowner loses $9,000 in home equity because they sold their home without hiring a local professional to measure and properly price their home. Whether selling by owner or listing with a Realtor, get a listing appraisal for the peace-of-mind it will provide to you at the closing table. Approximately 40 days ago, another Baton Rouge homeowner decided to sell their home without consulting a local real estate professional. They thought they knew the value of their home. The home is located in an upscale area, somewhat high quality, only 9 years old - the kind of home that wouldn't be on the market for more than 30 days. However, the home was larger than the owners had remembered. The owners ... 09/15/2008

Baton Rouge Home Appraiser Offers Pre-Listing Appraisal Services http://www.gbrprelistingappraisals.com/A smooth transaction is one when one has accurately represented the physical characteristics(in writing) of one's home , whether it be listing the home with an agent or selling it yourself(FSBO). "The main step is to acquire the accurate living area during the whole process of obtaining the accurate representation of one's property", says William D. Cobb, CREA who is the owner of Accurate Valuations Home Appraisal Group in Baton Rouge, Louisiana. An agent will enlist a CMA or Comparative Market Analysis for determining a home's listing price. Still, one should have with them, a precise calculation of the living area. Also, to be on the safer side, it would be a wise decision to have a... 09/14/2008

http://batonrougehomesrealtor.com/ - Baton Rouge Real Estate: Housing Price Trend For The Glenmore Pl, Steele Pl, Walnut Hills, and Westdale Heights Market?   I recently completed a home appraisal on Richland Ave in Walnut Hills S/D.   After researching 4 Subdivisions - Glenmore Place, Steele Place, Walnut Hills and Westdale Heights - this is the market trend I discovered. Solds From 9/11/06 to 9/11/07 revealed:  Average Sales Price: $413,049Average Sold Price Per Sq. Ft.: $147.44/sfMedian Sold Price: $400,000Low Sales Price: $173,000High Sales Price: $685,000# of Sales: 25Average # of Days On Market: 99 Days On Market Solds From from 9/11/07 to 9/11/08 revealed:  Average Sales Price: $410,893Average Sold Price Per Sq. Ft.: $141.34/sfMedian Sold Price: $410,000Low Sales Price: $191,500H... 09/13/2008

http://batonrougehomesrealtor.com/ - Baton Rouge Real Estate: What's The Housing Market Direction For High End Homes In MLS Areas 52, 53 & 62 (LSU, Highland Rd Areas, Out To Santa Maria)? I recently completed a home appraisal in the high-end Myrtle Hill / Myrtle Ridge Subdivision and made this discovery below.  Solds In MLS Areas 52, 53, & 62 from 9/13/06 to 9/13/07 reveal:  Average Sales Price: $759,642Average Sold Price Per Sq. Ft.: $186.44/sfMedian Sold Price: $645,000Low Sales Price: $500,000High Sales Price: $3,000,000# of Sales: 165Average # of Days On Market: 96 Days On Market Solds In MLS Areas 52, 53 & 62 from 9/13/07 to 9/13/08 reveal:  Average Sales Price: $795,596Average Sold Price Per Sq. Ft.: $191.16/sfMedian Sold Price: $696,450Low Sales Price: $500,000High Sales Price: $... 09/12/2008

http://batonrougerealestateappraisers.com/ -  Baton Rouge Real Estate Appraiser Attends Appraisal Institute's "Appraisal Challenges: Declining Markets and Sales Concessions", Part 3 Financing and Sales Concessions This section begins with this quote, "In a downturn market, real estate practitioners often develop new tools to facilitate sales that would not otherwise be transacted.  One of the most common tools used by brokers and builders alike is to have the seller provide financial assistance to the buyer.  These concessions almost always have an effect on the sales price paid and must be recognized and adjusted properly by appraisers."  My comment is that this method isn't only used during market downturns.  This method - having sellers pay buyer's closing cost (sometimes excessive $... 09/09/2008

http://homeappraisalsbatonrouge.com/ - Baton Rouge Real Estate: What's The Housing Market Direction For MLS Area  52 - Zip Code 70808? Zip Code 70808 Market Direction: Up or Down?    I recently completed a home appraisal in 70808 and made this discovery below.   Search Parameters were $125,000 to $1,000,000. Solds In 70808 from 9/09/07 to 9/09/08 reveal:  Average Sales Price: $282,805Average Sold Price Per Sq. Ft.: $126.82/sfMedian Sold Price: $247,899Low Sales Price: $125,000High Sales Price: $985,000# of Sales: 281Average # of Days On Market: 63 Days On Market Solds In 70808 from 9/09/06 to 9/09/07 reveal:  Average Sales Price: $281,445Average Sold Price Per Sq. Ft.: $127.04/sfMedian Sold Price: $244,900Low Sales Price: $125,000High Sales Price: $960,000Average # of Days On Market: 5... 09/09/2008

The FHA information below is the result of recent FHA Study performed by myself and John Halasz. *****FHA loans are government insured loans establishment to help buyers with limited cash or first time buyers to purchase a home.  FHA is an acronym for Federal Housing Administration. The loan program requires the buyer to invest at least 3 percent of the purchase price.  These federal loans are more lenient of a past bankruptcy and allow borrowers with little money to afford the traditionally high down payment. An FHA loan is an excellent way to buy a home because there are flexible financing guidelines for first time buyers.  The flexible financing guidelines include the following: Minimal down payments, Access to fixed rate programs. Only 3 percent down If you are like most people and ... 09/09/2008

Can One Purchase A Baton Rouge Condominium With FHA Financing? Purchasing a condo can be a huge task in itself to take on, but buying one attempting to use FHA financing can become an unwarranted headache. Follow the advice below to instill in yourself the necessary information for navigating through the somewhat confusing waters of acquiring financing for your condo purchase, and for understanding the process as you sail through it. In today's economy, it becomes difficult to find the best financing for purchasing a condo, but applying for FHA financing could be the one thing that helps to save you. The US government has changed many rulings and laws that previously tied the financing up and made it much more difficult to acquire, however with new rulings that back the FHA, the loan li... 09/09/2008

http://batonrougerealestateappraisers.com/ -  Baton Rouge Appraiser Attends Appraisal Institute's "Appraisal Challenges: Declining Markets and Sales Concessions", Part 2 True or False #6: A change in the median sales price in any given market will be absolute evidence of a change in that market's values?    *Study competing listings and what percentage of competing listings had price reductions.  My comment is: if less than 20% had price reductions and a normal marketing time period, then market may be stable, normal.  If 50%+ had price reductions, then market is slowing, possibly declining.   True or False #7: Days on market (DOM) can be used as a tool to indicate when the market is changing?    *Enhancing Appraisal Reports With Graphs.  Learned how to easily create MS Exel Spreadsheet... 09/09/2008

It's been since the end of August that most of you have heard from us in Baton Rouge...no power or internet or cell phones.  So much for my positioning my company as e-technology"internet based"  :-) I had to use a battery powered radio and dug a plug in phone out of my attic to be able to communicate!  Now that some of us are coming back online, i wanted to share with you some of what's happening here. August 31st the edges of the storm touched the Louisiana coast and headed on a line up the Mississippi toward Baton Rouge.  Being an inland city we seldom get severe damage from hurricaines as they loose their force quickly when reaching land.  Gustov was still gusting at nearly 100mph spinning tornados as it arrived in Baton Rouge.  The weather service says it made history being the str... 09/08/2008

First and foremost I would like to apologize for my absence due to Hurricane Gustav. My power was returned yesterday after almost a week after Gustav hit Baton Rouge.  I am very blessed however as Baton Rouge and surrounding areas have been told it will be 2 weeks+ from now until all electricity is restored. I do not believe much has been said about Hurricane Gustav in the media but it had a very damaging impact on Baton Rouge and surrounding areas.  I could use my blog as a soap box to complain about the 9 hours+ people waited in their cars at FEMA Points of Distribution for ice, water, and MREs, or the 3 hour+ long lines to get gas, or how every traffic light was down in town and everyone missed Drivers Ed 101 when they taught how to make a 4 way stop.  But complaining does not solve ... 09/08/2008

http://batonrougerealestateappraisers.com/ -  Baton Rouge Appraiser Attends Appraisal Institute's "Appraisal Challenges: Declining Markets and Sales Concessions"   On 8/28/2008, Bill Cobb, CREA, attended this newly developed seminar, written by Mark Rattermann, SRA & Patrick Carey, SRA.  The instructor was Cheryl Kunzler, SRA, out of St. Louis, MO.   The specific syllabus of the seminar is outlined below.   The location was Ellisville, MS, on Jones Community technology campus that was state-of-the-art.  The Sponsor for this seminar was the Mississippi Chapter of the Appraisal Institute, hosted by the wonderful and long-time members of the Mississippi Chapter, Roy & Ann Caves.  There's only reason this appraiser travels 2.5 hours each way to attend CE (Continuing Education) in Mississipp... 09/05/2008