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2012 Residential Trends Overview

2012 Residential Trends Overview. Presented by: Don Stern, MBA Tom Cook, MAI. Data Sources. Statistical analysis based upon an extract of residential sales data provided by the Greater Baton Rouge Board of Realtors MLS database 1/1/2005 through 2/21/2012.

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2012 Residential Trends Overview

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  1. 2012 Residential Trends Overview Presented by: Don Stern, MBA Tom Cook, MAI
  2. Data Sources Statistical analysis based upon an extract of residential sales data provided by the Greater Baton Rouge Board of Realtors MLS database 1/1/2005 through 2/21/2012. Some data extracted from the live system on March 20, 2012.
  3. Sellers Market
  4. Neutral Market
  5. Buyers Market
  6. The same but different New Construction Previously Owned (Resale)
  7. Focus on New Construction
  8. East Baton Rouge ParishNew Construction
  9. Ascension ParishNew Construction
  10. Livingston ParishNew Construction
  11. Developer & Builder Plans for 2012
  12. Level Construction Acquisitions Within the last few months, they have added a substantial amount of dirt to insure that 2012 is a busy one. EBR Parish 65 Lots in Shadowbrook Lakes, an upscale gated community off Jones Creek and Harrell’s Ferry Rd. Casa Colinas, one of Baton Rouge’s last premiere sites located off Highland Rd. was just purchased. Copper Mill, Zachary’s luxury golf course community, is also one of Level’s newly acquired properties with 37 lots purchased recently.
  13. Level Construction Acquisitions Within the last few months, they have added a substantial amount of dirt to insure that 2012 is a busy one. Ascension Parish Acquired 20 Lots in Renaissance in Prairieville on Hwy 73. Bluff Meadows, a new property with 10 Lots off Bluff Rd. Livingston Parish Willow Pointe, in Denham Springs off Jason Rd. and Hatchel Ln., boasts 94 lots on which Level has already begun construction.
  14. Russell Mosely – Traditional Neighborhood Development Long Farm Village – LongFarmBR.com First Filing Lots range from $62K to $92K
  15. Americana is a Traditional Neighborhood Development (TND) which proposes a mixed-use community with residential, office, commercial and civic spaces on a rolling 413.70 acre site The community will be constructed in multiple phases and will ultimately consist of over $500 million of construction value
  16. Overall Aerial Zachary Youth Ball fields Mt. Pleasant / Hwy. 64 BREC Park Americana Site Hwy. 964
  17. Uses within Phase 1 Single Family Single family detached 129 homes Condominiums 11 units Live / Work 205 units Commercial 208,000 sq. ft. Theatre 46,000 sq. ft. YMCA 26,000 sq. ft.
  18. Harveston – Planned Unit Development 870 acres near the intersection of Bluebonnet and Nicholson PUD with single family, multi-family, office and commercial use Phase 1 contains about 95 acres and 325 lots Part 1 of Phase 1 will be comprised of 95 lots Infrastructure construction has started. Completion in October.
  19. Harveston – Planned Unit Development 1800-2300 sq.ft Low to Mid $300s
  20. Shadows of Ascension – Phase 3 Lot pricing starts at $54k for standard 74x145' lots w houses that arebeing priced in the $230k to $275k price range.   Phase 3 will alsobring the construction of the Community Pool and Common Area.
  21. Lexington EstatesPhase IIA Lot pricing in Phase two A starts at $70k for our new 65' gated alleyaccess lot up to $120k for our new 90'x215' lake lots.   The regular80x160' builder lots were $82k and are completely sold out.
  22. Previously Owned Homes
  23. A look at REOs
  24. EBR ParishREO % of Unit Sales
  25. Ascension ParishREO % of Unit Sales
  26. Livingston ParishREO % of Unit Sales
  27. Conclusions The bleeding has stopped. Prices and unit sales have stabilized. There is statistical evidence suggesting an improving market. Anecdotal evidence also suggests a light at the end of the tunnel Bank foreclosures have become a significant part of the resale market space
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