Ascension Parish Lot Prices Outpacing Home Prices - 12/21/07 01:19 PM
My recent post about the Ascension Parish Real Estate Market showed that an oversupply situation exists in the market where a home is priced more than $250,000. Furthermore, two thirds of the existing inventory falls into this category and 16% of homes are priced over $400,000 where there is almost 18 months supply.
One of the drivers leading to this oversupply situation is the price of a building lot.
Consider the following:
The selling price of subdivision building lots has soared over the past few years.The average lot price in 2007 was $82,560.This is more than 90% higher than in 2003 when the average … (1 comments)

Please let us go home! - 12/18/07 05:44 PM
Warning:  this is a rant!
The Hwy 44 bridge (over the Panama canal) replacement project has been going on for about 6 months now.  As can be seen from the photo the bridge is for all intents and purposes complete but do they open even one lane?  Not on your life.  In fact, not only do they (whoever they are) put the road closed barriers across the span at night, they park heavy equipment on the bridge span to be sure there is no unauthorized bridge crossings.
Do you notice our tax $s hard at work in this photo.
I not only live in Pelican … (1 comments)

Roses Still Blossoming in Louisiana - 12/18/07 04:49 PM
According to the folks at weather.com, we experienced a freeze last night with temperatures dipping down to 29 degrees.  Apparently, however, our rose garden is close enough to our home to have escaped without ill effect.  Here's another of the December roses from our garden.
If the predictions hold, we've got buds enough to produce roses to get us through this year and into next.  As an ex-snowbird, I really appreciate winter in the deep south.
… (2 comments)

The 25K Road - 12/17/07 09:14 AM
I first joined Active Rain and put my profile into the system at the end of July as a result of a new article that I'd read.  I didn't really start blogging however until late September.  Since that time, AR has become part of my daily routine.  I want to thank the many other bloggers who have taught me something and others who have just inspired thought.  I think my time has been well spent. 
As a side benefit, it has been fun accumulating AR points.  This post tips the scales over 25K.  Like any good number's guy, I've tracked my progress.
… (7 comments)

Pelican Point Sunset - 12/16/07 12:17 PM
When my wife and I moved back to Louisiana seven years ago, we searched high and low for the perfect house for us.  We didn't find exactly what we were looking for so we decided to build our own home.  The first step for us was to locate a lot to build on.  We finally chose to build in the Pelican Point Golf Community.  The lot has lake frontage in the back and on the other side of the lake is golf course property giving us a great view during the day.  The sunsets, however, were what finally sold us on … (11 comments)

Open House Today (12/16/07) 2-4pm - Pelican Point Townhome - 12/16/07 11:34 AM
I will be hosting an open house today in the Pelican Point Golf Community.  The open house will be at 40020 Champion Tif East.  This three bedroom two bath townhome is priced to sell at just $204,900.  The kitchen comes equipped with stainless appliances including the refrigerator.  A washer/dryer is also included in the price.  It is convenient to I-10 and is situated within easy reach of Baton Rouge and New Orleans.  The Pelican Point Golf Club features two 18-hole championship golf courses, tennis courts, two clubhouses, and a Jr. Olympic size pool.  A retail center is just a short golf … (0 comments)

Livingston Parish Real Estate Market Update - November 2007 - 12/12/07 05:29 PM
As in neighboring Ascension and East Baton Rouge parish, the post Katrina prices are holding in Livingston parish as well.  The average price of a new home was $187,743 in 2007 up from $173,048 in 2006.  The resale market remained relatively flat rising only about $2,276 to $162,820 in 2007.
Unit sales for November were flat in the parish when compared to November of 2006 with 95 total units selling during November of each year.  New construction in 2007 was down 2 units while resales were up 2 units.
 Overall, the absorption rate of new homes looks like it will settle in a … (1 comments)

Real Estate Market November Update for East Baton Rouge Parish - 12/11/07 11:04 AM
Unit sales for detached single family dwellings for the month of November in East Baton Rouge parish were lower than in previous years as shown in the following chart.
In fact, the absorption rate for 2007 through November is at it's lowest level since 2002.  Inventory levels, however, are appropriate for this lower absorption rate.  Overall, there is only a 4.6 month supply of homes in East Baton Rouge parish.  The following chart illustrates that it is generally a seller's market until the prices exceed $350,000 where it becomes a seller's market.  In the over $400K range, there is almost an 11-month … (0 comments)

Ascension Parish Real Estate Market - November 2007 Update - 12/08/07 08:40 PM
With sales data for detached single family dwellings through November included, real estate sales and prices remain in quite good shape.
The average price of a new home has risen from $239.7K in 2006 to $258.7K in 2007.  For resale homes the gain has been more modest, $201.4K in 2006 vs. $207.2K in 2007.  Even this modest increase in the average price should be welcome news to parish homeowners given the widely reported drops in value that have been reported for other areas in the national media.
Overall unit sales remain lower than the post Katrina surge years of 2005 and 2006 but … (1 comments)

A Case for Owner's Title Insurance - 12/08/07 05:49 PM
Quite often, when presented with the option of getting Owner's Title Insurance at the closing table, clients will ask me for some guidance.  In most cases, I will recommend that they get it.  I was in a training session recently an the instructor was an attorney who was going over recent court decisions regarding real estate during the first half of the session.  The second half of the session was related to title insurance an a review of some relevant situations.  He relayed several anecdotes.  I thought this one was both humorous and demonstrative.  (Names & facts have been changed to protect … (3 comments)

December Roses - 12/08/07 02:51 PM
I'm one of those dang Yankees.  You know, the ones who came south and never left.  Where I grew up December meant cold and quite probably snow.  Here in Louisiana, it's quite another story.  Today, it's 82 degrees and I had to tend to the weeds in the garden and the lawn today.  Here's some of what I found in the garden.
My wife say's this is too late for roses but I was nevertheless happy to find them. 
… (4 comments)

Raising the Bar - 12/08/07 12:31 PM
In his featured post, IT'S OK TO RETAKE YOUR LISTING PICTURES, Mark Horan discussed listing photographs that were poorly lit, taken with objects in the way and other ways in which the property being marketed was not presented well.  It touched a responsive chord with me and quite a few others judging by the number comments.
Darlene McCullen asked Should a REALTOR Have a 4-Year Degree in Real Estate?  In her post which has logged more than 100 comments.  It seems that there is consensus that the bar needs to be raised but disagreement as to whether a 4-year degree is necessary.
In … (2 comments)

New Ascension Subdivision - Eagle's Landing - 12/06/07 05:52 PM
There is a new subdivision being developed in Ascension Parish called Eagles Landing.  It is located on Hwy 42 at the intersection with Joe Sevario Road.  The subdivision is planned to have 234 building lots to be created in three phases.  The restrictions call for homes with a minimum of 2100 sq.ft. of living area.  The subdivision will contain two lakes, each over 9 acres.
To date, the land has been cleared and fill moved but the lakes have not yet been dug as the photo to the right shows. 
There are still some builder packages available.  If you'd like more information … (0 comments)

What is Full Service? - 12/03/07 03:04 PM
Mike Elliot posted The Full Service Lie in his blog.  In this he pointed out that an agent in his area was claiming to provide Full Service and yet half of the agent's listings were without photos.  Many of us working for more traditional brokerage firms talk about the benefits of providing Full Service but just what is it?
There's a wide spectrum of services that could be provided to a buyer or a seller.  Which services to provide are often an economic business decision.  For example, should I spend two days setting up, shooting and editing professional photos for an $89K listing?  … (12 comments)

Pelican Point Townhome - Open House - Sunday 12/2/07 from 2 to 4pm - 12/01/07 04:52 PM

 Alisha Stern, (225)413-1418, will be hosting an open house at 40020 Champion Tif on Sunday, December 2 from 2:00 to 4:00pm.  This three bedroom/two bathroom single level townhome would be great for someone who just didn't have the time or inclination to keep up a big yard but wanted to be part of the Golf Community.  At $204,900 the townhome comes with stainless kitchen appliances including the refrigerator and a washer/drier combo.
Pelican Point is conveniently located in Gonzales, LA between Baton Rouge and New Orleans.  There are two 18-hole championship golf courses, tennis courts, a junior Olympic swimming pool, walking trails and much … (0 comments)

Open House - Sherwood Forest - Great Potential - Sunday 12/2/07 2-4pm - 12/01/07 04:36 PM
I will be hosting an open house at 617 Westbrook Dr. in the Sherwood Forest subdivision of Baton Rouge on Sunday Dec. 2nd from 2-4pm.  This home currently has over 3000 sq.ft. of living area.  It would be easy to convert the loft and walk-in attic to additional living area so you could really stretch out.  The home has four large bedrooms and 2.5 bathrooms.  Large trees, a deck and a partially fenced back yard can be found outdoors.  Offered at $199,900 this home has enormous potential. 
For more information visit www.DonAndAlishaStern.com or call Don Stern @ (225)413-3624.
 
… (0 comments)

 
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Don Stern ~ Greater Baton Rouge Real Estate

Baton Rouge, LA

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Realty Executives South Louisiana

Address: 15651 Airline Hwy., Suite B, Prairieville, LA, 70769

Office Phone: (225) 677-7772

Cell Phone: (225) 413-3624

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Analyses, thoughts & commentary relating to the Greater Baton Rouge area real estate market.


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