Ascension Parish Real Estate Market Stats for May 2010 Wednesday, Jun 30 2010 

Monthly Sales were 153 units. Comparison to last month:  Increased 16% from 128 units.  Comparison to this month last year: Increased 25% from 115 Units.

Average Sold Price was $188,863.  Comparison to last month:  Decreased 13% from $216,252.  Comparison to this month last year: Decreased 9% from $206,806.

Current Inventory is 4.45 months.  Comparison to last month:  Decreased from 5.14 months.  Comparison to this month last year: Decreased from 5.46months.

Average Days on Market were 73.  Comparison to last month:  Decreased from 81 days.  Comparison to this month last year: Decreased from 102 days.

So what do all these numbers mean?  Many first time homebuyers were taking advantage of the tax credit.  We will see lots of homes closing in the next month as well. 

Remember, the tax credit expired on April 30, 2010 and those buyers have until June 30, 2010 to close on those homes.  Knowing that, I wondered what the pending activity was for May.  93 properties in Ascension Parish went under contract compared to 120 in May of 2009.  To show you how the tax credit helped stimulate sales, there were 177 homes to go under contract in the month of April 2010.  That was a 47% drop in sales… Ouch! The medicated market will now take a few months to level out.  Watch closely for the interesting times ahead.

These stats are for areas 90, 91 & 92 in Ascension Parish. Information used from Greater Baton Rouge MLS.  They include only single family dwellings.  Mobile home and land sales are not part of these numbers.  If you would like information on either of these, feel free to let me know.

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Ascension Parish Real Estate Market Stats for April 2010 Wednesday, May 26 2010 

Monthly Sales were 126 units. Comparison to last month:  Decreased 5% from 133 units.  Comparison to this month last year: Increased 13% from 110 Units.

Average Sold Price was $215,954.  Comparison to last month:  Increased 4% from $206,398.  Comparison to this month last year: Increased 4% from $206,370.

Current Inventory is 5.13 months.  Comparison to last month:  Increased from 4.86 months.  Comparison to this month last year: Decreased from 5.91 months.

Average Days on Market were 81.  Comparison to last month:  Decreased from 92 days.  Comparison to this month last year: Decreased from 91 days.

So what do all these numbers mean?  Average sales prices are up and average days on the market are down… Looks like real estate in Ascension Parish is still holding its own!

Remember, the tax credit expired on April 30, 2010.  Knowing that, I wondered what the pending activity was for April.  185 properties in Ascension Parish went under contract compared to 146 in March.  I think we will see the average sales prices fall in May because of the number of First Time Home Buyers that took last minute advantage of the tax credite.  Interesting times ahead!

These stats are for areas 90,91 & 92 in Ascension Parish. Information used from Greater Baton Rouge MLS.  They include only single family dwellings.  Mobile home and land sales are not part of these numbers.  If you would like information on either of these, feel free to let me know.

Ascension Parish Real Estate Market Stats for February 2010 Wednesday, Mar 31 2010 

Monthly Sales were 95 units. Comparison to last month:  Increased 26% from 70 units.  Comparison to this month last year: Increase 8% from 87 Units.

Average Sold Price was $197,038.  Comparison to last month:  Decreased 5% from $207,896.  Comparison to this month last year: Decreased 9% from $217,229.

Current Inventory is 6.34 months.  Comparison to last month:  Decreased from 8.91 months.  Comparison to this month last year: Decreased from 7.95 months.

Average Days on Market were 90.  Comparison to last month:  Held steady at 91 days.  Comparison to this month last year: Decreased at 109 days.

So what do all these numbers mean?  The tax credit is fueling the first time homebuyers to make their leap into homeownership.  This is indicative of the average sales price.  The smaller homes are flying off the shelves!

Monthly sales are up due to the tax credit incentive as well.  I predict that we will see monthly sales rise until the close deadline of  June 30, 2010

Remember, the tax credit expires on April 30, 2010.  Purchasers must be under contract by this date and must close by June 30, 2010 to qualify for the credit.

These stats are for areas 90,91 & 92 in Ascension Parish. Information used from Greater Baton Rouge MLS.  They include only single family dwellings.  Mobile home and land sales are not part of these numbers.  If you would like information on either of these, feel free to let me know.

41031 Villa Court South Wednesday, Feb 24 2010 

This beautiful home has been priced to sell!

Now offered exclusively at $168,000

Perfect for you first time homebuyers looking for a beautiful place to call home.

41031 Villa Court South

For more information and additional pictures click here.

1970 Lombard :: Baton Rouge LA 70810 Tuesday, Jan 19 2010 

SOLD in 18 Days!

A little bit of love will make this house a home

  • 3 bedrooms/ 1 bath
  • Ceramic tile flooring throughout
  • Refrigerator remains
  • Large corner lot
  • Fenced backyard
  • Exclusively offered at $85,000

For more information or to view more pictures:  Click here

First Time Homebuyer Tax Credit Extension – Update Friday, Oct 30 2009 

There is a lot of mis-information being posted and talked about. 

The extension for the first time homebuyer tax credit has NOT yet been passed.  The Senate is not expected to vote on this until next week sometime at the earliest.  It is my understanding that after the vote passes the Senate, it will go to the House of Representatives for their vote.  From there, it will go to the President for his signature. 

Here is the proposal as it stands today:  The $8,000 tax credit for first time homebuyers will be extended until April 30, 2010.  Income limits for this tax credit will also be raised.  They are also wanting to add benefits of $6,500 for homeowners wanting to sell that have been in their homes for at least 5 years.  They have also added that this extension is final… it will not be extended again.

Remember all of this is still a dream….nothing has been voted on as of yet.

To read more about the bill click here.

I am monitoring this and will report changes to you as they happen.  If you have any questions, feel free to let me know!

2009 First Time Homebuyer Tax Credit Friday, May 15 2009 

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By now I am sure you have heard of the First Time Homebuyer Tax Credit that Congress has approved in an effort to stimulate the housing market.  If not, here is a recap of what the Tax Credit is all about.

  • You must purchase your home between January 1, 2009 and December 1, 2009
  • You and/or your spouse must not have owned a home in the past three years
  • The tax credit is equal to 10% of the purchase price up to $8,000
  • There is an income limit.  Single purchasers have a yearly income limit of $75,000; married purchasers have an income limit of $150,000
  • There are decreased credits available for single purchasers with a yearly income of $75,000-$95,000 and married purchasers with a yearly income of $150,000-$170,000. The closer you get to the maximum income, the smaller the credit
  • You must reside in the home for at least three years to prevent having to pay the monies back
  • First Time Homebuyer Credits may be applied to purchases of primary residences: single family, townhome, condo.
  • HUD is working on allowing the credit to be used as part of your downpayment!  I will keep you posted on this awesome news!

 

Purchasers are able to ammend their 2008 tax returns after the closing of their home to receive the credit this year.

I have purchasers that have done this and have received their credit in as little as two weeks! 

If you have been thinking of purchasing a home, now is the time to make your dream come true!