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What’s happening in the real estate market near LSU

Published: February 7, 2018

Filed Under: Market Trends

While you may not know it from our recent temperatures, Spring is right around the corner.  As we head into an historically busy time of year for home sales, many of my clients have asked about current market conditions and what’s in store for 2018.

Last week I read with interest The Advocate’s article on 2017 home sales in the greater Baton Rouge area.   Yesterday The Business Report shared Corelogic’s report on home values in the Baton Rouge area.  And while most of this is good news, those of us who live in and around the LSU area know that this part of town is a little bit different.  Near LSU, home prices are the highest in the metro area, land is scarce, and we weren’t as directly impacted by the August 2016 flood as other parts of Baton Rouge.  So I decided to dig a little deeper and share with you what’s going on in my neighborhood.

Here’s our chart from last year updated with this years’ numbers.  After a significant rise in 2016, average home prices are holding steady.  In light of the market upheaval we experienced after the flood, I’d say that’s pretty good news.

Homes Near LSU Market Update

 

What I think is important to keep an eye on this year is “supply” and “days on market.”  As of this morning there are 366 detached single family homes available in the areas between LSU and Country Club of Louisiana.  Last year 1,340 homes were sold in this area.  So, that means that there is currently a 3.3 month supply of homes available.  For home sellers this is very good news.   And take a look at what’s happened to days on market.

Average Days on Market for Homes Near LSU

Predicting what’s going to happen to home values is a pretty risky business, especially in this part of Baton Rouge where you have a lot of variety in the types of homes available, their age, and condition.   But when you have an asset that’s in short supply in an economy that’s strong, I think it’s reasonable to believe that home values should rise.

Real estate is local.  Your agent should be, too.  If you’re thinking about buying or selling a home in areas near LSU give me a call.  The number is (225) 772-8709 or email me at [email protected].

Homes Near Prairieville, LA

Published: October 5, 2017

Filed Under: Market Trends, New Construction

Those of us who live in Baton Rouge may not be aware of all that’s happening in our neighboring parishes.  You’ve likely heard about the schools in Ascension Parish and maybe some friends or acquaintances have moved there over the years.  Here’s some data from the Greater Baton Rouge Association of Realtors to help put it in perspective.

Talk about growth … the residential areas near Prairieville are rockin’ it!  It’s about the schools, the cost of homes, the availability of new construction, financing options for homes in rural areas, and that little bit of “country” that makes Louisiana like no place else.

This month I’ve expanded HeleneKurtz.com to include Homes Near Prairieville.  You can search by price, by subdivision, look for homes that were just listed, and also search for new construction.  And, there’s a lot of it.  With the exception of the Nicholson/Burbank corridors there aren’t too many options for new construction near LSU and Towne Center.  We just don’t have much land and the lots that are available are often very expensive.  You can see why so many find what’s happening in Prairieville so attractive.  If you’d like to go take a look at homes in Prairieville, give me a call at (225) 300-4588 and check out the homes on HeleneKurtz.com/Homes Near Prairieville.

 

New Construction at Stonelake Village Near LSU

Filed Under: New Construction

Lancaster Construction just announced that they are about to break ground on some new townhomes located near LSU.  When on Burbank, go to the entrance to Pelican Lakes.  These homes are located between the existing townhomes and the single family homes being built by DR Horton.

The new homes at Stonelake Village are townhomes, not condos, so you own the land and will be able to get traditional conventional financing.  That’s important because it means that you can buy one of these homes with as little as 3% or 5% down and use any lender you choose.  Two and 3 bedroom floorplans are available, and amenities include granite counter tops, stainless appliances, all laminate flooring (no carpet), custom cabinets and 9 ft. ceilings.  These homes will be ready in the Spring, in time for the August 2018 academic semester.  Give me a call for more details.  To see what’s available go to Stonelake Village on HeleneKurtz.com

Related content:  Buying New Construction.

Willows at Bayou Fountain from Alvarez Construction

Published: September 14, 2017

Filed Under: New Construction

Alvarez Construction has recently announced plans to build 102 homes at Willows at Bayou Fountain, a new community located off Burbank Drive and Siegen Lane.  The neighborhood will feature a central lake, reclaimed brick exteriors, architectural shingle roofs, sidewalks, and neighborhood green spaces.  There are 20 floor plans, some with 3 and some with 4 bedrooms, ranging in size between 1,809 sq. ft. and 2,246 sq. ft. of living space.  Construction is planned to begin by the end of 2017.  Check back for listings as soon as they become available or call me for details so you can be one of the first to own one of these fine homes:  (225) 772-8709.

Looking for new construction near LSU?  Visit www.HeleneKurtz.com/homes-near-LSU.

Related content:  Buying New Construction.

Lake Villas: More new construction near LSU

Published: September 13, 2017

Filed Under: New Construction

Lake Villas is a new DSLD community off Ben Hur Road, near the intersection of Burbank and W. Lee Drive.  Three and 4 bedroom homes will be built ranging in size from 1,538 sq. ft – 2,397 sq. ft. of living space.  All the upgrades will be “standard” features in these new homes, so expect to find some nice bells and whistles!  And, I’m told that if you use DSLD mortgage and DSLD title, the builder will contribute $5,000 towards your closing costs.  Construction starts Fall/Winter 2017 with homes becoming available in Spring 2018.  Check back for listings as soon as they become available or call me for details so you can be one of the first to own one of these fine homes:  (225) 772-8709.

Looking for new construction near LSU?  Visit www.HeleneKurtz.com/homes-near-LSU.

Related content:  Buying New Construction.

Help! I Need a Home Near LSU!

Published: February 17, 2017

Filed Under: Market Trends

Looking for a home in the LSU area this Spring?  You’re gonna need some help.

Over the past couple of years the monthly supply of homes, a key indicator of the balance between supply and demand, has gradually gone down in the areas surrounding LSU. Since the August 2016 flood that trend has continued.  Those of us who live here know that since  August the traffic on Perkins, Highland, Acadian, Essen, and Bluebonnet has increased dramatically as our neighbors from other parts of the Parish have moved here.  We’re all having to give ourselves more time to get to wherever we need to go.  So it’s not surprising that in December there was just a 3.38 month supply of detached single family homes near LSU.  That’s a classic indicator of a seller’s market and it’s made finding a home near LSU a real challenge.

 

Monthly Supply of Detached Single Family Homes Near LSU

Is it temporary or permanent and what impact has all of this had on home sales and values? It looks like at least some of the people in those long lines of traffic have decided to stay in the area.  Low inventories mean that nice homes are not going to stay on the market very long if they’re priced right and in good condition.

Not surprisingly, we’re also seeing an increase in home values.  Since 2014, the average price of a detached single family home in the areas near LSU have increased from $310,261 to $341,217 … a 10.0% increase.  It’s hard to say what affect the flood has had on value but my daily experience helping clients buy and sell homes suggests that we’re looking at a sustained upward shift in the price of homes.  It’s just my opinion, but I don’t think it’s like Katrina when folks who moved here went back to New Orleans.  I think that flood victims who have decided to buy homes in area 5 … homes near LSU … are likely to stay.

Price History for Homes Near LSU

So, what do you do if you’re in the market for a home near LSU?  Work with a responsive and experienced agent who can:

1) Send you listings, directly from the MLS, as soon as they are entered into our systems,

2) Help you negotiate the deal.  You don’t want to be in a multiple offer situation without a pro by your side,

3) Help you identify the resources you need to successfully move the purchase through the contract to close process, e.g., lenders, home inspectors, contractors, title companies, insurance agents.

And don’t forget …

4)  Get yourself pre-qualified for a loan!  Know how much you can afford and be prepared to act quickly.  Most sellers will not consider an offer without a pre qualification letter or proof of funds for an all cash transaction.

If you’re thinking about buying a home this Spring call me at (225) 772-8709, email me at [email protected] and visit my website, http://www.HeleneKurtz.com.

 

Member of the Institute for Luxury Home Marketing

Published: October 28, 2015

Filed Under: Education, Luxury Home Marketing

Institute for Luxury Home Marketing MemberThis month I became a member of The Institute for Luxury Home Marketing. Membership requires completion of extensive training in marketing luxury properties covering topics including lifestyle segmentation, trends and amenities in today’s luxury home market, and creating a marketing plan for homes in the upper-tier. In addition to the training, membership provides access to tools and resources for marketing luxury homes as well as opportunities for networking with luxury homes agents nationwide.

Completing the requirements for membership was one of the goals I set for myself this year. In order to provide my clients with the highest level of service possible, I believe it is important to continually refresh and upgrade the skills required for success in today’s real estate market. This was an outstanding program and I look forward to applying the principles learned when listing luxury homes and working with buyers looking for exceptional properties. Please let me know if you’re interested in Baton Rouge’s luxury real estate market or know someone who is.

Portfolio of Recent Listings

Published: January 13, 2014

Filed Under: Just Listed, Videos

One of the things prospective clients frequently ask is, “How do I know that you’ll do a good job?” I am happy to provide a list of former clients whose homes I’ve sold that are similar to yours with similar circumstances or similar price ranges. And then, of course, there is the work itself. I take a lot of pride in the work that I do and in the relationships I have with the people I serve.

This is a portfolio of some of the homes I’ve recently listed and sold in the Baton Rouge area. Each one is special to me as are their owners.

Recent Listings from Helene Kurtz

How your home is presented to the public is a critical part of getting it sold. No matter the size or price of your home, it’s all about professionalism in every aspect of the job. If you like what you see and want your home included on the list, give me a call at (225) 772-8709.

How’s the Market

Published: January 12, 2014

Filed Under: Market Trends

Baton Rouge used to be New Orleans’ second cousin, but not so much anymore.  Just take a look at what’s happening all around us, and you can’t help but be positive about Baton Rouge.  The leaders of our business community have declared 2013 a game changing year and here’s why.

In March we learned that IBM had reached an agreement with area leaders to open a business services center in a new riverfront complex downtown.  This announcement was followed in December with news of a downtown 28-acre Water Campus dedicated to ground breaking research in the areas of coastal erosion and the environment.  We also learned we were getting a branch of the LSU Medical School right here in Baton Rouge.

In 2013 there were some other major annoucements and developments as well.  Construction of new Acadian Village Shopping Center was completed and Trader Joe’s joined the area’s mix of upscale grocers.  Costco announced it was coming to Baton Rouge.  Construction also began on the Super Walmart at Bluebonnet and Burbank. And, Matherne’s announced it will open a much needed new super market in downtown Baton Rouge.

When CB&I purchased The Shaw Group some were concerned about the impact on Baton Rouge, but it’s turned out well.  CB&I has increased their local presence and Jim Bernhard, Shaw’s CEO and Founder, has opened new venture capital offices downtown.  Even our local newspaper changed ownership.  In May, John Georges, a successful New Orleans businessman and entrepreneur, purchased The Advocate from the Manship family.  The blending of news and reporting from New Orleans, Lafayette, and Baton Rouge has engaged readers and is creating an awareness of Baton Rouge’s regional importance and impact.

So, when people ask me “How’s the real estate market?”  I have to put it in the context of the overall growth in the Baton Rouge community.  While there is some concern about rising interest rates an increase into the 5% range is still low compared to high interest rate environments in the past.  We have a strong employment base.  We have major investments taking place in our community, and I am very positive about the future.  That optimism is reflected in last year’s area home sales and also all the new home construction currently underway.  Here’s to 2014!

2012 2013 % Change
Detached Single Family Homes # Homes Sold Average Price # Homes Sold Average Price # Homes Sold Average Price
Near LSU 971 $283,900 1,147 $301,208 18.1% 6.1%
Near Towne Center 444 $303,396 450 $291,438 1.4% -3.9%
Near Shenandoah 724 $209,421 815 $223,888 12.6% 6.9%
Zachary 298 $220,207 377 $213,598 26.5% -3.0%
Central 62 $214,754 101 $232,181 62.9% 8.1%
All East Baton Rouge Parish 3,680 $209,381 4,174 $218,615 13.4% 4.4%

Source: Greater Baton Rouge Association of Realtors, Multiple Listing Service, January 12, 2014

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