Baton Rouge refuses to particapate in the national recession

By
Real Estate Agent with Judy Burkett Realtors

According to RealtyTrac.com only Syracuse,NY has a lower foreclosure rate nationally then Baton Rouge:

Baton Rouge ranks near bottom for foreclosure activity
Baton Rouge was ranked 99th on a list of foreclosure increases for the nation's 100 largest housing markets. The Capital Region had foreclosure filings against .12% of all homes during the third quarter, according to RealtyTrac.com, only Syracuse, NY, had a lower rate at .10%. Baton Rouge remained low despite a nearly 175% jump in the number of foreclosures from third-quarter 2007. Foreclosures were filed against 373 homes in Baton Rouge during the quarter. Stockton, Calif., had the country's highest foreclosure rate, with 3.7% of homes facing seizure during the third quarter. New Orleans was tied for 76th, with .27% of all homes having a foreclosure filed against them. Nationwide, foreclosure filings were up 71% from third-quarter 2007. Foreclosure rates slowed in September, thanks to new laws in California and North Carolina aimed at reducing the pace at which lenders can move forward with defaults.

Wow!!! At the risk of sounding like a cheerleaderShannon Sims, The Exclusive Buyer's Agent in Baton Rouge, La; now is truly a great time to buy.  The local market is strong, interest rates are great and there is inventory available.  If you or anyone you know is in the market please give me a call at (225)767-1999 or drop me an email at shannon@judyburkett.com

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Anonymous
cookie

If this is true then I suggest that everybody save their money now, because it will not be the case for long

Nov 24, 2008 10:37 PM #1
Anonymous
Anonymous

Hi Cookie,

Thank you for reading my blog. 

 

While no one can truly tell the future, Baton Rouge is positioned to maintain the positive enviroment that we are enjoying now for the foreseeable future.  We did not experience the bubble effect of property values like so many other states and our unemployment is rate is extremely low compared to the rest of the country.  According to Loren Scott, L.S.U.'s chief economist, Baton Rouge will add a minimum of 2,500 non farm new jobs in 2009.  Couple that with the new industries i.e. E.A. Sports that have announced that they are opening operations in the Baton Rouge area and it does appear that we will continue to buck the national trend.

Nov 24, 2008 11:27 PM #2
Rainer
414,058
Terry Miller
Miller Homes Group - Tyler, TX
Miller Homes Group and Tyler Apartment Locator

What a wonderful post. Bless you and yours this holiday season and have a happy NEW YEAR.

Terry Miller

Dec 25, 2008 12:48 AM #3
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Rainer
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Shannon Sims

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