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Central Greenwell Springs Home Appraisers: How's Cedar Mill Run 2011 Market?
http://www.batonrougerealestateappraisal.com/ - Central Greenwell Springs Home Appraisers: How's Cedar Mill Run 2011 Market?
I'm working a Greater Baton Rouge Pre-Listing Appraisal for a local REALTOR®. This home sold in 2008 between a price of $127,000 to $129,000 or a whopping $111.60/sf. 2008 was the year Cedar Mill Run reached an all time high of $102.09/sf. Since 2008, sold prices per sq. ft. have declined from $101/sf, $100/sf and $92/sf in 2011. That's Right, in 2011, there were 9 total home sales averaging $119,470, $92.33/sf and median $120,900, which is a correction. In fact, home sales have slowed in Cedar Mill Run, so much so that I only have 2 home sales to use that sold in the previous 6 months, in 09/2011 and in 12/2011. This is very odd for this development. Furthermore, there's 9 competing listings in Cedar Mill Run, which is added competition and a high number of listings. The home I'm appraising, that sold between $127,000 to $129,000 in 2008, is having problems selling and it's one of the newer homes in updated condition. It appears the evenutal sales price will be in the low $120's, meaning the owners are currently upside down and resulting in a potential loss of $4,000 to $8,000. 
THE POINT. So, YES, ... more

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