This list covers the City of Covington, LA 70433 and 70435, as well the Cities of Abita Springs, LA 70420, and Folsom, LA 70437.
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64 homes sold in the Covington, Abita Springs, and Folsom Louisiana area for the month of March 2012; which is a solid increase over the 50 homes sold in February. I sure do enjoy seeing an increase in sales volume. 🙂
Now, onto some news, the robo signing scandal has run its course and soon we will see an increase in the number of foreclosures processed. This is good and bad news, with consequences on both sides of the table. First this means no more empty, boarded up homes along the street as the homes are foreclosed upon, and any mortgage free squatters who are occuping the home will be evicted. Once the home has passed through foreclosure it will eventually be purchased by a home owner or an investor who will make the necessary repairs to revitalize the pride of home ownership to this house again. In turn preserving the home values of all of the properties in the area. Good Lord willing achieving long term appreciation.
For the short term; we will see a decrease in home values. I feel confident there will not be a flood of REOs hitting the market, though there will be a significant increase. A flood would crash property values and economist regulators should prevent this, though with the increase we will see a decrease in property values as the market absorbs the REOs. This will hurt current homeowners and the best I can say to Sellers for the rest of 2012 and possibly 2013 is to continue to maintain those battened down hatches, the weather outlook is still "overcast with a chance of thunderstorms"
On the other hand, for home Buyers there will still be many, lower priced, foreclosed homes on the market, and we all need these properties to be purchased as rapidly as possible to avoid a stagnation, and more depression, in the market. For home values to rise, the distressed houses have to be purchased, renovated and pride of ownership reinstalled.
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Download Homes Sold in Covington and Abita Springs, LA; March 2012
The attached Adobe PDF document contains:
•Property Address
•Age of Property
•Condition of Property
•Square Footage
•# of Beds
•# of Baths
•Original List Price
•Final Sold Price
•Final Sold Price per Square Foot
•# Days on Market
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Thank You
Marc Pellettiere
Interesting report! I am also glad to hear that home sales are going up! Maybe this means that our economy is starting to get stronger.