Real Estate Blog

What does getting a "deal" on a home purchase mean to you?

Now that we have begun to enter into a buyer's market I have been hearing many prospective buyers talk about wanting to get a "deal" on their purchase. What exactly does that mean to you? Let's explore some of the "deal" options you may encounter.

Price

This is the first thing most people think of when they think of getting a deal in real estate. They want to know that they purchased a house for far less than not only the appraised value but less than fair market value. In reality, these types of deals just happen when there is a foreclosure that has occurred or possibly someone that has a lot of equity that needs to sell quickly to keep for losing the home or has had a drastic life

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December 2018 Market Stats

ASCENSION PARISH
Median Sales Price in Ascension was $239,850. That is a little drop from November but still higher than December of 2017 then the median sales price in Ascension was $224,500. In November, the homes that sold were on the market for 65 days vs. the 69 days in December. Sellers were still able to walk away with 98.25% of their asking price. There seems to have been a little push to buy before the end of the year because our inventory dropped to only 3.93 months from the 4.5 months of inventory we had in November.

This leaves us with 614 homes on the market in Ascension Parish with a median list price of $275,000.

Fun Fact: Check out the homes in Ascension Parish that are on the market for over $1,000,000

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Inventory is rising in both Ascension and East Baton Rouge Parishes.

ASCENSION PARISH
Median Sales Price in Ascension was $246,000. That is up significantly from November 2017 when ti was $215,950. In October, the homes that sold were on the market for 53 days vs. the 65 days in November. Sellers were still able to walk away with 98.2% of their asking price. The big indicator of a slow down is that we have 4.5 months of inventory compared to only 3.3 months in November of last year.

This leaves us with 621 homes on the market in Ascension Parish with a median list price of $275,000.

BATON ROUGE
In East Baton Rouge Parish the November median sales was $199,900, compared to $190,000 last year. The days on market held steady at 59. Sellers East Baton

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We are continuing the slow down in the market in both Ascension and East Baton Rouge Parishes.

ASCENSION PARISH
Average Sales Price in Ascension was $252,850 down a bit from $261,616. In September, the homes that sold were on the market for 59 days vs. the 53 days in October. Sellers were still able to walk away with 98.62% of their asking price. The slow down we see is that out of 196 homes listed in October, only 75% of those sold compared to the 88% in September.

This leaves us with 682 homes on the market in Ascension Parish with an average price of $311,761.

BATON ROUGE
In Baton Rouge (areas 4, 5 & 6) the October average sales price dropped slightly to $272,948 compared to $277,046  in September. The days on market dropped by 3 days to 58.

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WOW! AVERAGE PRICES SAW IN INCREASE SINCE AUGUST FOR ASCENSION PARISH, WHILE EAST BATON ROUGE (AREAS 4,5 & 6) HAVE DROPPED SLIGHTLY IN AVERAGE PRICE.

ASCENSION PARISH
Let’s start by looking a little closer at Ascension Parish. In September the average sales price rose to $261,797  from $244,112. The days on market rose as well. In August, the homes that sold were on the market for 44 days vs. the 60 days in September. Sellers were still able to get 98.9% of their asking price.

Now that we have finished the 3rd Quarter, let’s take a look to see where we stand in comparison to last year at this time. We have basically sold the same amount as last year this time with prices jumping from an average of $234,537 to $249,346. Sellers were still getting 98%

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WOW! AVERAGE PRICES SAW IN INCREASE SINCE JULY FOR ASCENSION PARISH, WHILE EAST BATON ROUGE (AREAS 4,5 & 6) HAVE DROPPED IN AVERAGE PRICE.

Let’s start by looking a little closer at Ascension Parish. In August the average sales price rose to $244,112 from $237,979. The days on market were a little better as well. In July, the homes that sold were on the market for 51 days vs. the 44 days in  August. Sellers were able to get 98.9% of their asking price. Compared to August of last year we did well stayed about the same in that category. Last year 85% of the homes listed sold and this year we saw only 64%.

In Baton Rouge (areas 4, 5 & 6) the August average sales price dropped to $279,320 compared to $297,060  in July. The days on market remained nearly

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BOTH AVERAGE AND MEDIAN PRICES HAVE DROPPED SINCE JUNE FOR ASCENSION PARISH, WHILE EAST BATON ROUGE (AREAS 4,5 & 6) HAVE RAISED IN AVERAGE PRICE AND REMAINED STEADY AT MEDIAN PRICE.

Let’s start by looking a little closer at Ascension Parish. In July the average sales price dropped to $239,052 from $263,031. The days on market were a little longer as well. In July, the homes that sold were on the market for 51 days vs. the 47 days in June. Sellers were able to get 98.6% of their asking price.

In Baton Rouge (areas 4, 5 & 6) the July average sales price was $296,790 from $275,291 in June. The days on market for those sold homes were up to 61 days. While average sales price was up, sellers were only able to get 94.78% of their list price.

WHAT IS MY

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Ascension Parish

In May 2018, there were 299 homes listed in Ascension Parish with 182 of those selling. Those sellers received 98.71% of their asking price. The Average Sales price of those homes was $251,970.

There are currently 650 homes available in Ascension with an average list price of $326,837. If you are looking for a 3-4 bedroom house, there are 576 of those with an average price of $303,989.

Last month we stated that we felt we were moving into a more balanced market. This month we really see that happening. The percentage of homes that listed vs those that sold dropped 6%. The inventory is growing. As a seller, that means that you will have more competition out there so expect those sellers to negotiate a little harder with you than

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Summertime Real Estate

Ah! Summertime…backyard barbeques, pool parties, family vacations, beach trips and my favorite, the smell of sunscreen. (I was a Florida kid)

Summertime is a busy time of year. Most families take their big vacations during the summer since the kids are out of school and the weather is favorable almost everywhere.

All those things are wonderful but can wreak havoc when trying to buy or sell a house during the summer. You see, the seller’s best selling seasons are Spring and Fall. When the summer kicks into gear, sellers want to have their house sold already so they can use the summer to get settled into their new home. This is especially true if they have kids.
As a buyer, you may not have much to choose from if you didn’t

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If you are a first-time homebuyer, this is a scary time for you.  You are about to make the most significant purchase of your life, and you are probably scared to make a final decision. What home is right for you?

Let us help you here with three powerful points to start:

  1. An ethical real estate agent will NEVER EVER pressure you into buying a house.
  2. You will instinctively know that you have found the right house. Trust your gut.
  3. You may want to “sleep on it” and make your decision the next day. DO NOT, I repeat, DO NOT do this if your agent advises you not to.

Let’s talk about these three points a little bit more.

Your agent may tell you that there is much activity on the house and you should act fast. This information is not to

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