baton rouge appraisers: Woodland Ridge Baton Rouge Non-Flooded Home Sales 2017
- 10/12/17 02:47 AM
In August 12-18, 2016, Greater Baton Rouge and Louisiana itself experienced "The Great Flood". 35.4 percent of East Baton Rouge homes potentially flooded, so Woodland Ridge was not alone. Greater Baton Rouge, South Louisiana in general and 62 miles of Interstate 12 from Baton Rouge to Covington Louisiana, experienced a 1000 year massive flood beginning August 12th-18th impacting 146,156 homes and displacing up to 359,619 people. Homes impacted were 68,679 in East Baton Rouge Parish, 48,827 in Livingston Parish and 16,195 in Ascension Parish. Data Source: http://www.wafb.com/story/32825095/statistics-show-greatest-impact-of-flooding-was-in-ebr-parish?clienttype=generic&sf34172323=1
Whether these Woodland Ridge homes did flood and were repaired or did not flood and were … (0 comments)
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baton rouge appraisers: East Baton Rouge Home Sales Stats August 2017 Infographic
- 09/12/17 07:06 PM
East Baton Rouge Home Sales Stats August 2017 Infographic
by Bill Cobb Appraiser and Accurate Valuations Group 225-293-1500. Download this pdf at https://www.slideshare.net/BatonRougeHousingReports
EAST BATON ROUGE MEDIAN SOLD PRICE FOR SINGLE-FAMILY HOMES
2012: $170,000
2013: $177,000
2014: $179,900
2015: $192,000
2016: $190,000
August 2017: $187,000
SINGLE-FAMILY HOMES SOLD
532, up 19%
MEDIAN NUMBER OF DAYS HOMES SPENT ON THE MARKET
18, Down 50%
SINGLE-FAMILY HOME LISTINGS ON THE MARKET
NEW LISTINGS: 680
ACTIVE LISTINGS: 08/2016:1950 vs 08/2017: 1758, DOWN 10%
PENDING LISTINGS: 1562
MEDIAN SOLD PRICE PER SQUARE FOOT
AUGUST 2016 versus AUGUST 2017 $116 vs $116
No Change
MONTHS OF INVENTORY FOR SALE
3.3 MONTHS
DOWN 1.1 MONTHS
SOURCE: Data used with permission of the Greater … (3 comments)
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baton rouge appraisers: Baton Rouge's Luxury Homes Market appears to be weakening 2017
- 03/12/17 03:31 AM
Baton Rouge's Luxury Market "appears" to be weakening into 2017
Will higher mortgage rates negatively impact this market?
And The Settlement At Willow Grove Update showing it also appears to be weakening from 2016 highs. Reporting the numbers I'm seeing and based on a luxury estate private sale home appraisal I completed this past week in the 70806/70808 market.
Trends comparison 7-12 months ago vs Current to 3 months:
Total Active Competing Listings have INCREASED from 13 to 27 or 107%
Months of Housing Supply INCREASED from 13 to 20.2 months, a 55% increase
Median Comparable Sales Price has DECLINED from $1,397,500 to … (1 comments)
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baton rouge appraisers: Baton Rouge Appraiser Bill Cobb Attends Common Errors Continuing Ed
- 10/18/16 08:37 PM
Bill Cobb Appraiser, of Greater Baton Rouge, recently attended the 7 hour continuing education "Common Appraisal Errors" taught by Appraiser and Educator, Melissa Bond of http://www.ceinstructor.com/. I always highly recommend taking CE from Melissa because she's still a "boots on the ground Appraiser", unlike some CE Instructors who haven't appraised a home in well over 20 years. And, several others told me that's the exact reason Melissa is their favorite instructor.
This class was a review of:
Focus on minimizing common errors noted by FHA, VA, USDA and Fannie Mae
GSE (Fannie Mae, Freddie Mac) requirements for accuracy and accountability
USPAP compliancy (Uniform Standards of Professional … (0 comments)
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baton rouge appraisers: How Baton Rouge Appraisers Think?
- 07/10/16 10:44 AM
How Baton Rouge Home Appraisers Choose Comparable Sales?
Home Appraisers in Baton Rouge Are Required To Choose Comps Which “Bracket” Or Sandwich Several Features. When I speak of "subject", the "subject" references the home being appraised.
Sales Price
Example: if sales price is $250,000, then we're using comps sold from below $250,000, say $240,000 or $245,000, and comps selling above $250,000, say from $255,000 to $265,000.
Location
If On A Busy Street, Other Sales On Busy Streets
If subject has a water front view, then including a comp or sale with similar water front view
Lot or Land Size
Age
Example: If subject is 12 years old, then an … (1 comments)
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baton rouge appraisers: Baton Rouge Appraiser Attends Trends In Real Estate Seminar 2016
- 04/23/16 09:36 PM
Bill Cobb, Baton Rouge's Home Appraiser 225-293-1500, attended the annual "Trends In Real Estate Seminar" hosted by CID (Commercial Investment Division of the Greater Baton Rouge Association of REALTORS®) at L’Auberge Hotel.
The major theme heard throughout seminar: Rough Seas Are Ahead - Speaking of the oil industry and Louisiana Government Budget Crisis Issues.
LISTEN TO AUDIO: Residential Trends Seemed To Brightspot and you can listen to this presentation here: https://soundcloud.com/billdcobb/residential-trends-at-baton
Brian Andrews says regulators are now controlling commercial lending and forcing banks to lessen risk by lowering commercial exposure. The growth in commercial is unsustainable and that's where regulators see major risk.
Multi-family is … (0 comments)
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baton rouge appraisers: Baton Rouge Home Prices in Zip Code 70810 Increase 5 Percent in 2015
- 12/03/15 02:09 PM
This is a Baton Rouge Housing Market Study of Zip Code 70810 from 2014 versus 2015 YTD, from $0 to $500,000 in order to eliminate any $1,000,000 high dollar sales and the Pennington $6,000,000 sale within these neighborhood boundaries. While I stated above a 5 percent increase, median sales price was up 6.6%, average sales price was up 5.3% and average sold price per sq. ft. was up 3.4%. When rounded, this is closest to a 5% increase.
Median Sales Price: + $15,950 or + +6.6%
$243,000 in 2014 vs. $258,950 in 2015
Average Sales Price: + $12,975 or +5.3%
$246,280 in 2014 vs. $259,255 in … (0 comments)
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baton rouge appraisers: Baton Rouge Appraiser USDA Rural Development Appraisal Requirements
- 11/28/15 09:42 AM
USDA or Rural Development Home Appraisal Requirement follow the most current FHA appraisal requirements. In 2015, FHA increased appraisal standards and requirements for a house to qualify for FHA financing. Assuming the house actually meets each of these standards below, these are the new comments I've added to my Baton Rouge USDA Home Appraisal Reports
As with any home purchase, new house or existing house, I highly recommend a thorough home inspection!
USDA INTENDED USE and INTENDED USER“The intended use of the appraisal is solely to assist USDA in assessing the risk of the Property securing the USDA-insured Mortgage. USDA and Mortgagee … (0 comments)
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baton rouge appraisers: Baton Rouge Appraiser Frustration Computers Questioning My Judgment
- 11/28/15 08:45 AM
Fannie Mae CU or Collateral Underwriter can be frustrating to Home Appraisers when their computer models try to second guess Appraiser's judgment.
Now computer models tell Appraisers the comps they should use instead of Appraiser Judgment
For example, this past week, I performed a foreclosure purchase on a home obviously needing some repairs and on the market for a much longer than average 275 days in two (2) REO listings. It sold between $25,000 to $30,000 below market...for a reason. After submitting the report, I received the following revision request: "The appraiser-provided comparables are materially different than the model selected comparables." What this … (4 comments)
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baton rouge appraisers: Hunters Lake Baton Rouge Home Price Trends Subdivision 70816
- 10/26/15 02:51 PM
Hunters Lake Subdivision Baton Rouge 70816 Home Sales Trends 2014-2015
I was asked today to update Hunters Lake home price trends by a resident, update follows.
STEEP CORRECTION from post Hurricane Katrina Highs of $115/sf and Hunters Lake IS NOT enjoying increasing home prices typical in the hottest zip codes within Baton Rouge in 2015. I'm sharing these charts from Greater Baton Rouge Association of REALTORS MLS. HOWEVER, It's a great trend that residents don't have a desire to move out of Hunters Lake.
January 2014 to October 26 2015 Hunters Lake Subdivision Home Sales Trends For DSF (Detached Single Family and there are … (0 comments)
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baton rouge appraisers: 10 Rules of Engagement with Appraisers that can impact Values
- 10/26/15 04:02 AM
Mary Thompson, this would be a dream assignment for Appraisers where an Agent took the time to provide all of this helpful information. THANK YOU for trying to explain Comp Selection and "Bracketing" of comparables...if Agents could just understand bracketing and how Lenders / Fannie Mae want comps selected, we would make great strides in understanding. AGENTS: DEDUCT EXCESSIVE CONCESSSIONS AND MAJOR DIFFERENCES FROM THOSE CMAs! If there's anything I would add, it would be when Agents run MLS CMAs, to not just blindly look at the average sold price per sq. ft. and use that number to price their listing. Agents should … (1 comments)
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baton rouge appraisers: Baton Rouge Home Appraisers Subdivision Trends Charts
- 09/05/15 01:25 AM
One recent feature Greater Baton Rouge Paragon MLS MLSBOX added to help support adjustments in Baton Rouge Home Appraisal reports And Baton Rouge Real Estate Bloggers is a one page 4-5 charts by subdivision set of charts for up to 10 years! There's also 3 & 5 year options as well generated in seconds, no more need for the tedious Microsoft Excel task to manually download data to create these charts.
So, how does this help support adjustments, for example a market increase or time adjustment? While this chart lacks 2015 home sales data, we can see difference between 2013 and 2014 … (1 comments)
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baton rouge appraisers: As A Baton Rouge Home Appraiser, I Want Listing Agents Comps
- 08/12/15 10:30 PM
Good Appraiser Video Helping To Educate The Public On What We Do by Virigina Home Appraiser, Jonathan Montgomery!
I absolutely agree with Jonathan's video about Agent comps and I know this is highly controversial, testy topic. Some Appraisers will disagree and I expect that.
"I just don't see that an Agent offering their comps to me somehow violates my "Appraiser Independence", which Home Appraisers hold so dear. I want to know and see what they were thinking AND if they were just listing at the seller's price instead of market support, then that questionable practice will be revealed! In fact, one of … (2 comments)
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baton rouge appraisers: Gap between Baton Rouge Appraiser, Homeowner perceptions of home value
- 08/12/15 12:53 AM
Gap between Appraiser, Homeowner perceptions of home value doubles in July...evident to Baton Rouge Appraisers for "some" appraisals. See below. This is Bill Cobb Appraiser commentary on the recent Housingwire / Quicken Loans article about the growing gap between what homeowners think their homes are worth versus what Appraisers are showing what the market is supporting. There's A LOT OF HYPE in the news home prices driving unrealistic expectations of homeowners refinancing or home sellers.
Image Source: Housingwire.com
Why is a new Central listing in a starter homes subdivision overpriced by almost $18,000? At least 1 other Agent know it's grossly overpriced … (0 comments)
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baton rouge appraisers: How Baton Rouge Appraisers Think - What Is External Obsolescence?
- 08/11/15 12:47 AM
What Is External Obsolescence - How Baton Rouge Home Appraisers Think?
External Obsolescence can be locational factors which decrease the value of your home.
And, it can add "A;Res:" classification for "Adverse" location. Lenders "may" frown on lending on a home with an adverse location.
"The definition of external obsolescence, “is an element of depreciation; a defect, usually incurable, caused by negative influences outside a site and generally incurable on the part of the owner, landlord, or tenant."
Photo Caption: Homes fronting busy highways with loud noise and potential for wrecks in front yard!
Examples are being located too close to a major … (0 comments)
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baton rouge appraisers: Villa Del Rey Baton Rouge Home Sales Update 2015
- 05/23/15 06:38 PM
VILLA DEL REY SUBDIVISION BATON ROUGE LA 70815 HOME SALES 2012-2015 YTD By Bill Cobb, Greater Baton Rouge's Home Appraiser 225-293-1500
ONLY 7 2015 SALES YEAR TO DATE
$54 $56 $59 $72 $0 $10 $20 $30 $40 $50 $60 $70 $80 2012 2013 2014 2015 Price Per Square Foot Price Per Square Foot Linear (Price Per Square Foot) $125,000 $113,500 $116,647 $150,000 $0 $20,000 $40,000 $60,000 $80,000 $100,000 $120,000 $140,000 $160,000 2012 2013 2014 2015 Median Sales Price Median Sales Price Linear (Median Sales Price) 4% 5% 6% 3% 0.00% 1.00% 2.00% 3.00% 4.00% 5.00% 6.00% 7.00% 2012 2013 2014 2015 Discount … (1 comments)
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baton rouge appraisers: April 2015 Baton Rouge Home Sales, Short Supply by Bill Cobb Appraiser
- 05/12/15 07:25 PM
APRIL 2015 Baton Rouge Home Sales Down, Home Prices UP and Short Supply Continues by Baton Rouge's Home Appraiser, Bill Cobb
Downloadable pdf of charts.
BE SURE TO READ IMPORTANT DISCLAIMER ON INFLATED PRICES AND FALSE EQUITY WITHIN BATON ROUGE REAL ESTATE.
Yes, it's an incredible excting time to be a part of Baton Rouge Housing and the Baton Rouge Real Estate market in 2015 is fantastic with reports of homes selling in 1 day due to shortage of supply, but not exactly to the extent of the hype in the news or on Facebook. Yes, April 2015 house sales were down, which is … (6 comments)
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baton rouge appraisers: Baton Rouge's Home Appraiser is Bill Cobb
- 02/20/15 04:36 PM
Baton Rouge Home Appraiser is Bill Cobb 225-293-1500
Bill also reports on local home sales trends, such as the trends within Shenandoah Estates Subdivision in Baton Rouge Louisiana Zip Code 70817. Since 2012, the median sold prices of homes sold have increased $6,750, average sold price per sq. ft. has increased $1.00/sf, homes are selling for 2% at 96% less than listing prices on a listing to sales price ratio basis (were selling for 98% in 2012) and it takes longer to sell a home, 21 days longer. Shenandoah Estates is one of THE largest subdivisions in Baton Rouge with approximately … (0 comments)
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baton rouge appraisers: Frequently Asked Questions Home Appraisals Baton Rouge
- 12/02/14 02:35 PM
I've been slowly working on Baton Rouge Home Appraisals 101 FAQs or Baton Rouge Home Appraisal Most Frequently Asked Questions.
1.) What Types Of Home Appraisals Does Bill Cobb Offer?
2.) How Much Experience Does Bill Cobb Have As Western Livingston Parish Appraiser?
3.) Cost: How Much Is A Does Denham Springs Home Appraisal?
4.) Under "How To Prepare For Appraisal Inspection"
A.) List and Video: How To Prepare For Appraisal Inspection?
B.) Video: How to prepare for a Home Appraisal – Short Version
C.) How Does an Appraiser Inspect a Property?
D.) … (1 comments)
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baton rouge appraisers: Baton Rouge Home Appraiser Reports On Parkview Oaks Home Prices
- 04/04/14 05:10 AM
Baton Rouge Home Appraiser Reports On Parkview Oaks Home Prices
What are the Baton Rouge Home Prices within Parkview Oaks Median Sales Price and Sold Price Per Square Foot from 2011 to 2014?
Parkview Oaks Subdivision Buyer Seller Trends.
TrendsParkview Oaks and Parkview Oaks II Subdivisions in Baton Rouge's Zip Code 70816 appears to be experiencing somewhat increasing prices according to the chart. Home sales by from 2010 to 2013 ranged from 12, 16, 11 and 13 per year. These older floor plans with old style Formal Living & Formal Dining rooms are not as popular into 2014 and … (1 comments)
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In August 12-18, 2016, Greater Baton Rouge and Louisiana itself experienced "The Great Flood". 35.4 percent of East Baton Rouge homes potentially flooded, so Woodland Ridge was not alone. Greater Baton Rouge, South Louisiana in general and 62 miles of Interstate 12 from Baton Rouge to Covington Louisiana, experienced a 1000 year massive flood beginning August 12th-18th impacting 146,156 homes and displacing up to 359,619 people. Homes impacted were 68,679 in East Baton Rouge Parish, 48,827 in Livingston Parish and 16,195 in Ascension Parish. Data Source: http://www.wafb.com/story/32825095/statistics-show-greatest-impact-of-flooding-was-in-ebr-parish?clienttype=generic&sf34172323=1
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