Darren James - Denham Springs, LA Realtor

Today's Real Estate Update For Baton Rouge, La

2012-03-06T10:33:00.001-05:00

Median sales price in Baton Rouge, LA went down 13.54% to $150,000 from prior quarter

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Baton Rouge, La Daily Market Update!

99 sold properties in Baton Rouge, LA in the past 60 days

Today's Real Estate Update For Baton Rouge, La

2012-03-05T09:25:00.001-05:00

9 upcoming open houses in Baton Rouge, LA

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Baton Rouge, La Daily Market Update!

Average listing price in Baton Rouge, LA went up 1.05% to $225,799 from prior week

Market Changes In Baton Rouge, La

2012-03-04T09:18:00.001-05:00

9 upcoming open houses in Baton Rouge, LA

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Real Estate Market Update In Baton Rouge, La

336 price reductions in Baton Rouge, LA

Look What Is Happening To Real Estate In Baton Rouge, La

2012-03-03T10:32:00.001-05:00

Average listing price in Baton Rouge, LA went up 1.05% to $225,799 from prior week

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Here Is Some Interesting Information About The Real Estate Market In Baton Rouge, La

134 sold properties in Baton Rouge, LA in the past 60 days

Today It Looks Like There Is Some Movement In Baton Rouge, La

2012-03-02T10:02:00.001-05:00

109 new listings in Baton Rouge, LA in the past 7 days

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Interesting Information For Baton Rouge, La:

Median sales price in Baton Rouge, LA went down 13.54% to $150,000 from prior quarter

Home Inspection Basics – What To Expect and How to Gauge the Results

2012-01-27T13:16:00.000-05:00

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A special thanks to Gordon Atwell of A Precison Inspection LLC. Call him at 225-333-1020 or send him an email at gordonatwell@aol.com for more information on home inspections.

The real estate and mortgage industry has faced some tough times lately and one of the results of the even more stringent procedures in place is the strong preference for a home inspection to take place prior to obtaining financing. Though not a requirement, getting a home inspection is a practice that can and does save buyers (and sellers) thousands of dollars. But what can you expect from a home inspection these days?

To help guide you through the process, here is a list of basic areas of the home that are included in the inspection, as well as the potential defective aspects that an inspector looks for during the process. We also provide a list of those areas that do not come under the home inspection umbrella.

What All Is Included in a Typical Home Inspection?

Assessment of Exterior – includes grading and elevation of the home, drainage, driveway and walkways, fences, siding, trims, doors and windows, exterior lighting and landscaping.

Structural Aspects of the Home – Walls, floors and ceiling are evaluated in addition to the foundation. The inspection also includes a detailed assessment of the roof and attic, including ventilation, construction and framing.

Systemic Operational Elements – HVAC, heating and cooling systems, water heaters, ductwork, fireplace and chimney function is checked as well as outdoor sprinkler systems.

Functional Major Appliances – All major appliances that are included in the sale of the home such as refrigerators, stoves, microwaves and dishwasher as well as smaller items like the garbage disposal system are checked by the inspector.

Electrical Systems – Wiring, grounding, receptacles, exhaust systems, circuit breakers and the main panel are studied in sufficient detail to confirm whether the home is up to code.

Plumbing – All areas of the home that involve plumbing are checked, including bathroom and kitchen sinks, toilets, tubs and showers plus faucets as well as the evaluation of materials used in the plumbing construction of the home.

Safety Assessment – Smoke detectors, CO detectors and fire extinguishers are also checked for function and adequate placement.

Garage Structure – A detailed evaluation of the garage door and opener, firewall, walls and ceilings, lights as well as exterior is completed.

Results That Indicate Potential Concerns With the Home

A home inspection yields a detailed inspection report that is broken down by section/type of evaluation performed. While there are some areas that are not covered under a home inspection, others are resultant of major red flags that must be addressed by the seller. Anything that indicates potential safety issues is reported as top priority on the inspection report and similarly anything that appears to be a possible health concern is reported. Another thing to look for is inadequate results or concerns with the furnace or air conditioning systems. The presence of excess moisture or problems with drainage is a big indicator that the home will need major repairs soon if not immediately. Two more expensive problem areas that can be revealed during an inspection are roofs that may not be able to withstand the elements much longer and faulty foundations.

Things Not Included in a Home Inspection That Must Be Evaluated Independently

Oftentimes a home can be found to have major problems in areas that are not reviewed within a typical home inspection. If there is an indication or possibility that one or more of the following health, safety or structural hazards may exist it is strongly recommended that the prospective buyer seek specialized inspections in each respective area.

The potential of asbestos, mold and mildew presence, insect or other pests, chemical assessment for the presence of radon, radiation or lead – all are issues that require independent evaluation by their respective experts in the field. To learn more, here is a link to the top ten areas not covered in a home inspection.
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Before getting a home inspection done on a home you are considering, check with your Realtor to find a preferred inspector that they may have worked with for years. Using a quality inspector that is certified in the areas being inspected versus utilizing the services of a less-than-qualified inspector – can make a difference of thousands of dollars. Once you have the inspection report in hand it is a good idea to consult with your Realtor again to see whether there is some leverage to be gained when negotiating the sale on your property.

What Determines the Value of Your Home?

2012-01-05T13:03:00.000-05:00

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Basically, a home's worth is determined by its market value. How is "market value" determined? Most often, it's figured by a comparison ("comp") with homes similar to yours in the surrounding area. So, if the homes in your neighborhood average, say, $250,000, then it's likely that the value of your property will fall in the same range. But market value is also determined by a number of factors including the following:

External Factors

There can be several external factors influencing the value of your home. One is "curb appeal", or the first impression your property makes upon prospective buyers. A home that's in excellent condition on the outside will make a great first impression; a home in poor repair instantly loses its appeal to buyers. Other factors can include lot size, popularity of an architectural style of property, water/sewage systems, paved roads, sidewalks, etc.

Internal Factors

The condition of a home's interior also has a huge influence on prospective buyers. When you've demonstrated "pride of ownership" and kept up the maintenance (quality paint, trim, molding, etc.), a buyer's interest will immediately perk up for the simple reason that they know your care and concern will result in less cost and maintenance for them. Other internal factors include construction quality, condition of appliances, size and number of rooms, heating/cooling type, energy efficiency, etc.

Supply and Demand

"Supply and demand" simply refers to the number of homes for sale versus the number of buyers. When there are more homes than there are buyers, prices tend to be lower. When there are a lot of buyers chasing few homes, then prices tend to rise. In effect, supply and demand affects how quickly your home will sell. Location More than likely, you already know the old saying, "There are three main factors in real estate - location, location, location." While that's not the whole story, desirability is a big factor for home buyers. They may want to live in particular school district known for its education excellence…a great and safe neighborhood with rising property values…etc.

But I Know My Home Is More Valuable Than a Lot of Comparable Homes in My Neighborhood

Aren't Allowances Made for This? Definitely! Sometimes, it can be difficult to find homes exactly comparable to your own. So, dollar adjustments are made for the differences between your home and comparable properties.

Where Do I Find Sales Comparison Information?

The easiest source to access is your Realtor. After all, it's his or her business to know such information! But, there are also other sources you can tap into in order to get a complete picture of your home's value in comparison to others in your neighborhood. Here's an overview of them:

1. ) The Local Assessor's Office

It's very likely that your local assessor will be able to provide the sales history of a particular house, neighborhood, or style of architecture. Many assessors also provide lists of recent sales which you can browse and compare to the assessment roll. Today, many municipalities provide local sales and assessment information online making it very easy to access. Check with your local government agency to find out if they provide this service.

2.) Online Private Companies

You can search for these companies using the Google search engine and the keywords "comparable home sales" or "comparable sales." Some companies offer free information; others charge a nominal fee. If you wish to get more specific, you can Google "real estate database" and type in the name of your particular state to get additional property information.

3.) Your Local Newspaper

It's likely that your local newspaper is a great source of specific real estate information. Look for quarterly sales reports in the real estate or business sections.

The Key to Getting the Price You Want (or Close To It) for Your Home

The key to getting the best value is finding and matching the right buyer to your home. And that's the job of the Realtor! He or she should work hard to qualify those buyers upfront so the right people are viewing your property! In other words, the Realtor should weed out "lookers" and other unsuitable buyers as a first step in working with you. See how I do that for you by calling me today!

"D.O.M." Your Way to better Value When Buying a Home!

2011-12-19T13:52:00.000-05:00

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Generally speaking, the longer a home is on the market, the more willing a seller is to negotiate. And that means you might be able to get a good deal!

However, notice that I said “generally speaking.” I put in that disclaimer because there are several reasons a home might be on the market for a long time.

One is that it might simply be overpriced. If that’s the case, then you’re in an excellent position to negotiate since the sellers may be anxious to sell the home.

A second reason may be someone has already put an offer on the property, but their financing, credit rating, etc. hasn’t met the requirements of the deal. In short, there was something wrong with the buyers, and nothing wrong with the home. Again, there may be an opportunity for you in this situation.

A third reason is that someone made a simple mistake in the Multiple Listing Service (MLS)! Perhaps the home got listed in the wrong ZIP code or the wrong neighborhood, or the price was simply wrong and listed too high. Now, normally, MLS is very accurate, but, as always, it’s dependent on humans entering information into the system, so mistakes happen!

Fourth, the house may have stayed on the market for so long because the owners simply refuse to negotiate! A real estate agent can help you identify these individuals for you so you don’t waste time and energy on a sale that will never happen.

Finally, a home may stay on the market for a long time because there is something wrong with it either structurally or cosmetically or both!

Depending on the situation, this can also be an opportunity for you as a buyer! You can use it as a bargaining tool; that is, either the home seller fixes the defects or lowers the price to account for the cost of repairing those defects.

However, you should always, always get a home inspection done on such houses! (Or on any house you’re considering, for that matter!). It prevents you from buying a “money pit,” in which you have to throw a small fortune in order to get defects repaired.

Here’s the short and long of it: DOM can sometimes get you a great value in a home; however, you need the expertise and guidance of an experienced real estate agent to pinpoint such values! I can provide you with that expertise. Contact me today!