Real Estate, News, and Information, for St Tammany Parish LA
Friday April 9th, 2010
8:30 – 3:30
Cost – $100.00
12 Oaks, SLU Campus, Hammond, LA.
Please click; For More Information or to Register for the Northshore Retail Development Conference.
Courtesy of the Southeastern Louisiana University Business Research Center.
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Download St Tammany Parish Louisiana Foreclosure Sale, May 5th, 2010
The graph above, (feel free to click to enlarge) illustrates a 3 year review of real estate activity for the City of Covington, North of I-12, East of Hwy 190, and West of Hwy 59. Major subdivisions in this area include; Crestwood, Tammany Hills, Arrowwood Estates, Kings Forest, Hollycrest, Southwind, Covington Meadows and more. This graph tracks the number of new, active, and sold homes, as well the average sales price, on a month to month basis, from March 2007 through February 2010.
First, the number of active listings (green) is down about 30 of over 160 homes from 3 years ago. My calculations equate this disparity to an almost 20% reduction in active homes on the market. This is significant because as the inventory of homes decreases, values will level out and begin to rise as demand surpasses supply.
When we look at the average sales price (yellow) over the last 3 years, we definitely see a decline in values. Being of generous mind I would say a little over 10%. I also know the numbers get even more confusing as we get closer to 2010, due to the fact they are all over the place. High and low. This bouncing as we get closer to present day is, I feel, a direct result of the low number of sold homes (blue) we have experienced for the last year to 18 months. Less than 10 sales per month recently. Darn near a 50% reduction from 3 years ago. Due to this low number the abnormal sales (the 80 / 20 rule applies here) are having more of a direct effect and skewing the numbers, making them bounce on our graph. I want to reiterate, less than 10 sales per month. If you are selling, we need to talk.
Lastly the number of new homes for sale (red) coming onto the market each month has decreased over the past 3 years. I like the fact this number is decreasing. Supply and demand again. The fewer the homes, the smaller the inventory, the greater the value, hence demand, of the available supply.
For more information on your home’s current market value, please visit
www.StTammanyHomeEvaluation.com
for a FREE Over-the-Net Home Evaluation.
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Marc
4.875%. Todays interest rates are very low. If you can afford to buy, Now is the time! Home values are low, interest rates are low. The stars are aligned for buyers right now. Take advantage while the getting is still good. Contact us for the first step in purchasing a home. Pre-Qualification. Any offer on a home will only carry weight if a Pre-Qualification Letter is attached. To be frank, there is no point in even looking at homes until this is done. If you do not know what you qualify for, please contact us for a FREE Confidential Pre-Qualification, or EMAIL Us Here and someone will contact you back ASAP. Then it is just a matter of finding you the home of your dreams. 🙂
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Marc
Download St Tammany Parish, LA Foreclosure Sale, April 28th, 2010_
Attached above is a link to the latest Foreclosures / Distressed Properties list for St Tammany Parish. The Sheriff's sale for these properties is scheduled Wednesday April 28th, 2010 at 10:00 am on the first floor of the Justice Center located at 701 N Columbia St, Covington, LA 70433. This list is an Adobe PDF (Portable Document Format), and will require each user to view the document using the Free Adobe Reader. This program is available at http://www.adobe.com/products/acrobat/readstep2.html
Download St Tammany Parish, LA Foreclosure Sale, April 21st, 2010
Download Properties Sold, St Tammany Parish Foreclosure Sale, March 24th, 2010
Attached above is a scanned copy of the Sheriff's sale list for 3/24/10, along with my handwritten notes. I would say the sale was fairly heavily attended, 25 people or so, though with fully half the crowd being representatives for the Plaintiffs. Two of the properties were sold to private investors, all of the others went back to the banks. I am also attaching the Sheriff's list of cancelled sales for 3/24/10.
Download Properties Cancelled, St Tammany Parish Foreclosure Sale, March 24th, 2010
For more information, please contact.
Thank You
Marc
The graph above, (feel free to click to enlarge) illustrates a 3 year review of real estate activity for the City of Madisonville, South of I-12 and West of the Tchefuncta River. Major subdivisions in this area include; Arbor Walk, Black River Estates, Dominion, Tchefuncta Trace, Windermere, and many more. This graph tracks the number of new, active, and sold homes, as well the average sales price, on a month to month basis, from March 2007 to February 2010.
The first thing I notice is the number of active homes for sale, (green track), has steadily declined for almost 3 years. I would have to pull the numbers to be accurate, but from looking at this I would say the numbers are down almost 100 homes. A full 1/3 of the current market 2.5 years ago. Significant changes.
Looking further we see the average sales price of a home, (yellow track), in Madisonville is down almost 200K from 3 years ago. Yes the number has fluctuated greatly over the last 3 years, however the chart still reflects a steady decline in home values.
Lastly we are going to look at the number of new home listings, (red track), versus the number of sold homes, (blue track), at the same time. We see the number of new homes coming onto the market is higher than the number of sold homes, almost double early on in this timeline, (2007 and some of 2008). While the number of sold homes is mainly constant with a few small peaks. However as we follow the line closer to our present time, we see the tracks begin to merge, even juxtapose December of 2009. What scares me a little is the number of sold homes so far for 2010. Not to chide, but the track looks just above zero. A sharp decline, and the lowest 2 months in 3 years. A little foreboding if you ask me.
Well… please do not shoot the messenger. Madisonville is a beautiful place to live and the market will return in due time.
For any questions please contact us anytime. Email.
For an in-depth evaluation of YOUR homes current value, commonly called a CMA (current market analysis) or a BPO (broker price opinion), visit
www.StTammanyHomeEvaluation.com
We cover residential and commercial real estate for Mandeville, LA.
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Marc Pellettiere
Mauti Meredith Scoggin
The graph above, (feel free to click to enlarge) illustrates a 3 year review of real estate activity for the City of Mandeville, South of I-12 and East of Hwy 190. Major subdivisions in this area include; Greenleaves, Meadowbrook, The Reserve, Forest Brook, Hunter’s Glen, Rosedown, The Woodlands, Quail Creek, and many more. This graph tracks the number of new, active, and sold homes, as well the average sales price, on a month to month basis, from March 2007 to February 2010.
Looking at the top part of the graph I see the average sales price for this area has stayed very close to $250K for over a year. This is good, home values are stabilizing. I also see the number of active listings over this 3 year period has reduced by a full 1/3 going from 450 in 2007 to 300 in 2010. Mandeville’s over supply of homes is dwindling and this is good. Fewer listings, higher demand, hence higher values.
Lower down I see the number of new listings on the market has taken a 50% hit over the past 3 years, from 140 or so, down to less than 70 for sure. New construction has been the hardest hit. Now for the sold listings, well… over the last 3 years it looks like what I would expect. A humpback whale several times over. On a yearly basis a real estate market is very cyclical, with peak sales during the summer months and drops during the winter / holiday months. Like rolling hills.
If you have any questions or comments, feel free to post. For real estate services throughout St Tammany Parish, visit
Thank You
Marc