Baker Louisiana Home Price Meltdown 2010 to 2014
Will recent Baker Louisiana murder tragedy at Community Civic Center impact home values?
I've been appraising homes now in the Baker Louisiana housing market for 20 years. Yes, the tragedy of the three (3) teens that lost their lives at a party at the Baker Civic Center last Friday evening has the Town Residents in shock. As a local housing reporter, I'm not trying to take advantage of this situation by reporting on bad housing news. Still, the enormity of such an event opens up many questions, such as will this happen again, how safe will residents feel on the streets in Baker going forward, can the Town afford to increase police presence to avoid another event like this? And then, there's the housing question of how does such an event impact home prices going forward?
How Does This Tragedy Impact Baker Louisiana Home Prices?
Well, it certainly doesn't help as Baker Louisiana home prices have been reeling since the 2009-2011 national real estate meltdown as the charts clearly show. AND, much of my work in Baker since 2009 has been for distressed properties as Baker has been GROUND ZERO FOR FORECLOSURES within Greater Baton Rouge, possibly second only to 70805 / 70807 North Baton Rouge and 70814 Park Forest / Monticello area. Since 01/2006, Baker has experience 1,248 DSF (Detached Single Family) home sales with 391 or 31.3% of those sales being distressed in some form.
Baker Louisiana Median Sales Prices from 2005 to 2014
2014 YTD: $66,000
So, the Baker Louisiana housing market was already in meltdown mode based on home sales prices. Only time will tell if this tragedy further impacts home prices downward.
GREATER BATON ROUGE REAL ESTATE DATA NOTE:
Based on information from Greater Baton Rouge Association of REALTORS®\MLS for period 01/01/2005 to 04/01/2014, extracted on 04/01/2014.