J Gallo,  in 70816

What's the problem with the Baton Rouge market?

Asked by J Gallo, 70816 Tue Mar 19, 2013

Looking at the Number of Sales chart for the Baton Rouge market, one can see that we are in the biggest slump in 13 years. Less houses are selling now than the post-9/11 slump. Ever since around early Summer 2012 sales have plumeted to around only 50 sales a month. What's going on? Are people just not buying or is the market moving to more suburban areas or apartments? Is there any outlook for a positive turnaround or will be keep crashing?

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A major problem I find is that potential buyers credit scores are not met up to most bank standards which I believe to be 620 but check your local bank or mortgage bank for specifics. The best advice I can tell you is to keep the best credit score and pay all your bills on time.
0 votes Thank Flag Link Thu Mar 21, 2013
The Baton Rouge market is GREAT and homes are selling FAST! Home sales ended 2012 up 15% over 2011 totals!!! It is very important for everyone to get the correct market data from a reliable source. All sources are not the same and any Baton Rouge REALTOR can get you the correct current market information for your specific area.

Daniel Engle
REALTOR
225-456-7812
http://www.DanielEngle.com
0 votes Thank Flag Link Tue Mar 19, 2013
The market did
not slump until late 2012 into early 2013, so information on CY 2011 to CY 2012 is not what I'm talking about. I'm looking more at Q3 2012 - Q2 2013.
Flag Wed Mar 20, 2013
I am not sure where you are getting your information. Sales increased in our market by 15% in 2012 and January '13 was 8% ahead of January '12!!! Prices remain fairly flat and some price ranges move better than others, as always.
0 votes Thank Flag Link Tue Mar 19, 2013
Our market is great and getting better! See the link below to the article in the advocate this weekend.
We are seeing a lower inventory, more offers coming in at once, more sales, etc. The information in the article come from our MLS database, which is the most accurate source you'll find for homes listed and/or sold by Real Estate agents.

http://theadvocate.com/news/business/5447663-123/br-area-hom…

I am curious where you found the chart you are referring to in your post. Please pass on the link and we might be able to further explain why that information is incorrect. I can even send you a list of all the houses that have sold in any given month, subdivision, etc. The clerk of court might be able to give you some numbers too as every sale is recorded.

Feel free to respond with any further questions. Thanks for asking so we have the opportunity to get the right numbers out there!
0 votes Thank Flag Link Tue Mar 19, 2013
To answer the question you and some others are asking, the chart can be found right on this site:

http://www.trulia.com/real_estate/Baton_Rouge-Louisiana/market-trends/

Second one.
Flag Wed Mar 20, 2013
Crashing? Talking to any agent that has any kind of inventory will tell you that marketable homes are selling and selling quickly right now, like no other time in years. In fact, here's an article from 225 Magazine that refers to a 5% increase in February over last year: http://www.225batonrouge.com/daily-report/AM/3152013/Capital…

Homes are moving but buyers are picky and there is less inventory by far right now than there was this time last year. If your home is clean, priced according to what the market will bear, and in move in condition, it will sell if it's marketed. We have had four go under contract in the last three weeks.

Mike Denham
225-573-0999
mike@geauxbig.com
0 votes Thank Flag Link Tue Mar 19, 2013
Link them, please.
Flag Wed Mar 20, 2013
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