Live Ascension Real Estate Information

March 29, 2008

Manchac Harbor - Market Update

Filed under: Market Analysis, Subdivision Information, Uncategorized — admin @ 6:02 pm
Manchac Harbor Entrance

Manchac Harbor is a subdivision located in Prairieville, LA which features homes in both the new construction and re-sale market segments that are generally priced in the $300’s.

The subdivision is located off of Hwy 42 approximately three miles from Airline Hwy. It featurs homes mostly in the French Country architectural style.

The following market analysis is based upon data extracted from the Greater Baton Rouge Association of Realtors MLS database. The data extracted were for detached single family homes sold between January 1, 2003 and February 29, 2008. Current inventory was set at the time of data extraction.

Manchac Harbor Average Home Prices

We can see from the chart above that home prices have continued to rise although no sales had yet been recorded by 2/29/08 to see if the trend continued.

Manchac Harbor New Construction Unit Sales

Despite the Concept Development fiasco which stalled home sales in the 3rd filing of the subdivision and impacted 2005 home sales, we can see that unit sales have been relatively steady selling about two new homes every three months.

Manchac Harbor Absorption Rate by Price

As elsewhere in the parish, this subdivision suffers from an oversupply of new homes priced over $350K possibly creating opportunities for a savvy home buyer.

Manchac Harbor Absorption Rate by Size

Although homes in the 2500-2999 living area range accounted for nearly half of 2007 home sales, the current inventory of these homes represents almost eleven months supply if 2008 new home sales become similar to 2007 home sales. As previously pointed out, however, there were no sales recorded for the year as of 2/29/08.

If you have any questions about this analysis, if you would like additional information or you’d like to discuss buying or selling a home then I’d very much like to speak with you.


As always, I welcome readers to visit my websites at www.DonAndAlishaStern.com, www.TheHomeVendor.com, www.LiveAscension.com or www.PelicanPointHomes.netfor real estate information about and to search for homes within the Greater Baton Rouge area. Click here to search for homes.

Contact me via e-mail1312 or call me at (225) 413-3624 for more information.

Don Stern Realtor Blog Subscription

©2008 by Don Stern - All Rights Reserved

March 18, 2008

Oak Alley Estates - Market Update

Filed under: Uncategorized — admin @ 4:21 pm

Ascension Real Estate - Oak Alley Estates Subdivision

Oak Alley Estates is a Kevin Nguyen development located at the intersection of Bluff Road and LA Hwy 74 in Geismar, LA. It consists of three phases of development totalling 165 home sites. Since 2003, a total of 81 new homes have sold. Of these homes, there has been a total of 11 home re-sold. As of this writing there were 9 new homes and 4 re-sale homes homes available. There have been no homes sold during 2008 although there are 2 pending sales. Oak Alley Estates, Geismar, LA
Oak Alley Estates, Geismar, LA The average price of a new home has increased from about $236K to over $364K since the first home was sold in the subdivision.
Oak Alley Estates, Geismar, LA The average price/sq.ft. of a new home has soared from under $105/sq.ft. in 2003 to nearly $135 in 2006 and 2007.
Oak Alley Estates, Geismar, LA 2007 saw a rather significant drop in new home sales from 23 per year in 2005 and 2006 to only 16 in 2007. As was pointed out in the opening paragraph, there have been no homes sold in 2008. There could be many reasons for this among them are:
  • The dramatic rise in price/sq.ft. and the cost of a home
  • The current over supply of new homes over $350K in the parish.
  • The general tightening of credit both local and nationwide
  • Here are the currently active listings (including proposed construction) for Oak Alley Estates.


    As always, I welcome readers to visit my websites at www.DonAndAlishaStern.com, www.TheHomeVendor.com, www.LiveAscension.com or www.PelicanPointHomes.net for real estate information about and to search for homes within the Greater Baton Rouge area. Click here to search for homes.

    Contact me via e-mail1312 or call me at (225) 413-3624 for more information.

    ©2008 by Don Stern - All Rights Reserved

    March 10, 2008

    Fountain Hill

    Filed under: Subdivision Information, Uncategorized — Tags: — admin @ 7:19 pm

    Fountain Hill Subdivision

    Fountain Hill is one of developer Kevin Nguyen’s first Ascension Parish subdivisions. The entrance to Fountain Hill is impressive to understate the fact.

    Fountain Hill Entrance

    Fountain Hill is situated just off of Bluff Road on the south side of I-10. It is comprised of 141 lots and current house prices start in the high $300’s. Most of the homes in Fountain Hill are of Country French design and are loaded with high-end amenities.
    Click here to view currently active Fountain Hill Listings.

    Aerial view of Fountain Hill

    New home prices in Fountain Hill have seen a steady rise has the following chart illustrates. There was a pricing anomaly in 2005 which was attributable to Hurricane Katrina and saw prices of homes in the re-sale space exceed the average price of a new home in the subdivision. We also saw that average price fall back in 2006 and 2007. The current average is near what it was in 2005.

    Fountain Hill Average Home Prices

    As always, I welcome readers to visit my websites at www.DonAndAlishaStern.com, www.TheHomeVendor.com, www.LiveAscension.com or www.PelicanPointHomes.net for real estate information about and to search for homes within the Greater Baton Rouge area. Click here to search for homes.

    Contact me via e-mail1312 or call me at (225) 413-3624 for more information.

    ©2008 by Don Stern - All Rights Reserved

    March 9, 2008

    Ascension Parish Real Estate: February 2008 Market Update

    Filed under: General Information, Market Analysis — admin @ 9:55 am

    Ascension Parish Real Estate Market Report

    February Update

    This update examines data extracted from the Greater Baton Rouge Association of Realtors MLS database. The data were extracted a of 3/7/08 and represent closed sales and active inventory of detached single family dwellings.

    Unit sales for homes in the re-sale market segment were the same in February 2008 as in the previous year. The new construction market segment, however, continued to show weakness with February unit sales still at a five year low and less than half of what they were in the previous year.

    The average February sales price of both new and re-sale homes were at five year highs. The average selling price of a previously owned home in February 2008 was 7.8% higher than in the previous year while new home prices averaged 12.7% more in February 2008 than in February 2007.

    Looking at unit sales for all periods from January 2003, we observe more or less normal seasonality changes in the re-sale market segment. The number of previously owned homes sold is beginning to rise as would be expected at this time of the year.

    New construction unit sales, however, dropped again in February although not as severely as in previous months.

    Although the average price of a new home was up, as previously pointed out, the drop in unit sales caused overall sales dollar volume for new homes to be near historic lows. On a positive note, the dollar volume was up a bit from the previous month.

    Dollar volume of home sales in the re-sale market segment rose again in February and are higher than pre-Katrina volumes.

    Inventory levels are climbing slightly in both the re-sale and new construction market segments

    In the new construction segment, most of the inventory growth was in homes priced between $200K and $300K.

    In conclusion, the re-sale market segment is quite healthy with unit sales and home values improving. The new construction segment, however, is soft. It appears that the softness in unit sales can be attributed, at least in part, to the rather steep rise in prices. With inventories of new construction rising and unit sales falling off, savvy home buyers and their Realtor® should be able to find builders willing to negotiate on price and/or additional consessions or features.


    As always, I welcome readers to visit my websites at www.DonAndAlishaStern.com, www.TheHomeVendor.com, www.LiveAscension.com or www.PelicanPointHomes.net for real estate information about and to search for homes within the Greater Baton Rouge area. Click here to search for homes.

    Contact me via e-mail1312 or call me at (225) 413-3624 for more information.

    ©2008 by Don Stern - All Rights Reserved

    March 8, 2008

    New Construction Dutchtown Schools

    Filed under: Homes for Sale, Listings, Uncategorized — admin @ 12:51 pm

    Don Stern | Coldwell Banker Mackey Co. | (225) 413-3624

    36166 Heron’s Way Ave, Geismar, LA

    New Construction Near Dutchtown Schools

    4 Bdrm Single Family House

    offered at $309,800

    Year Built 2008
    Sq Footage 2,215
    Bedrooms 4
    Bathrooms 3 full, 0 partial
    Floors 1
    Parking 2 Car garage
    Lot Size 12,100 sqft
    HOA/Maint $40 per month

    DESCRIPTION


    Wayne Dodge built this home and added amenities to set himself apart from the competetion. A partial list of amenties includes:

    • 12′ & 10′ Ceilings
    • Granite Counter Tops
    • Custom Cypress Cabinets
    • Stainless Steel Appliances
    • Convection Oven
    • Walk in Pantry
    • 6′ Circulating Master Tub
    • Large Walk in Master Closet
    • Wood , Tile & Plush Carpet Flooring
    • Natural Gas Lanterns
    • Completed Home Security System
    • Prewired for surround sound
    • Leaded Glass Master Bath Window
    • Imported Leaded Glass Front Door
    • Genuine Slate Floor at Stoop & Foyer
    • Cast Limestone Fireplace Mantle by Old World Mantles
    • Rounded drywall corners
    • Gas Firelogs w/ Remote Operating Switch
    • Under Counter Sink & Veggie Sink
    • Under Cabinet Lighting
    • Appliance Garage & Wine Rack
    • Slate Finished Patterned Concrete Rear Patio,
      Stoop Landing & Driveway Apron

    Projected completion date is April 2008. Call now for your private tour.

    see additional photos below

    PROPERTY FEATURES


    Central A/C Central heat Fireplace

    COMMUNITY FEATURES


    Lake

    ADDITIONAL PHOTOS


    Seller contact info:

    Don Stern

    Coldwell Banker Mackey Co.

    (225) 413-3624

    For sale by agent/broker

    powered by postlets Equal Opportunity Housing

    Posted: Mar 8, 2008, 8:49am PST

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