pricing custom homes in changing subdivisions

7/27/2019 Pricing Custom Homes in Changing Subdivisions

1/19

Pricing Custom Homes In Changing SubdivisionsPricing Custom Homes In Changing Subdivisions

At The Request Of Jeanne Stroda:How To Price Custom Built Higher

Quality Homes In Subdivisions That WereStarted, Few Homes Built And Then

At The Request Of Jeanne Stroda:How To Price Custom Built Higher

Quality Homes In Subdivisions That WereStarted, Few Homes Built And Then

Accurate Valuations Group Visit www.BatonRougeRealEstateBuzz.com TodayAccurate Valuations Group Visit www.BatonRou

geRealEstateBuzz.com Today

Remaining Lots Sold To Builders WhereSize & Quality Were Drastically Lowered,

Such As In Acadiana Of Ascension70737

Remaining Lots Sold To Builders WhereSize & Quality Were Drastically Lowered,

Such As In Acadiana Of Ascension70737


2/19


Not Much Market DirectionNot Much Market Direction

On This For Homes Over

2,400sf, but there is forhomes in 2,200sf range

On This For Homes Over

2,400sf, but there is forhomes in 2,200sf range



Let Me Explain..Let Me Explain..


3/19


Market Is ShowingMarket Is Showing On Average, Market Is Showing Sales

The Most Severe Impact In ALL ofGreater Baton Rouge Is In Acadiana OfAscension Subdivision

Establisin A Listin Price In Better



2013-2014 Market May Begin At $8/sfto $10/sf +/- Less Than Market And

Stair Step Downward Upon Motivation


4/19


Accurate Valuations Group Visit www.BatonRougeRealEstateBuzz.com TodayAccurate Valuations Group Visit www.BatonRougeRealEstateBuzz.com Today


5/19


Acadiana Of AscensionAcadiana Of Ascension I Appraised 2 St. Jude Dream Homes 73 Total Lots

Initial 8 Homes Were 2300sf to 3,408sfCustom Homes at $130/sf to $141/sf or 11%of All Homes

Remaing 89% or 65+/- Lots Sold, 1731sf to2210sf Homes Built Sold at $94/sf to $112/sf


MEANING if 89% of ALL Homes in AofA AreLower Quality, Then This CERTAINLYImpacts The First 8 Homes

Only 5 Homes Are Over 2900sf


6/19


Also in Acadiana Of Asc.Also in Acadiana Of Asc. Also, I searched Legal News and found

NO private sales of larger homes. Also Searched Current Listings and

FSBOBR.COM What I Found Is These Original 8 Have



7/19


New Home In Acadiana of Asc.New Home In Acadiana of Asc. 13340 Fleur De Lis 2,100sf 7/4/3 Sold

, or . , oo ays oSell, Builder Was Morales

Comparable Homes In Competing Subds


With No Lower Quality Homes Sold For$126/sf

This Home Sold for $19/sf Less or -15%

Less


8/19


Resale In Acadiana of Asc.Resale In Acadiana of Asc. 13296 Rue Maison 2,332sf 7/4/3 Sold

, , ,Resold $250,000 $107/sf in 2012.


With No Lower Quality Homes Sold For$130/sf +/-


Less


9/19


Resale In Acadiana of Asc.Resale In Acadiana of Asc. 38446 Rue Chateau 2,210sf 7/4/3 Lot

o , , eso ,$114/sf in 2013.

Comparable Homes In Competing Subds


With No Lower Quality Homes Sold For$128/sf +/-


Less


10/19


New Home In Harbor CrossingNew Home In Harbor Crossing 39412 Oceanview 2,374sf 7/4/3, Listed

, , , ,Took 697 Days To Sell,Builder Was Fetzer


With No Lower Quality Homes Sold For$128/sf


Less

P i i C H I Ch i S bdi i iP i i C H I Ch i S bdi i i


11/19


Resale In Harbor CrossingResale In Harbor Crossing 39292 Seaside Ln 2,615sf 8/5/3 Sold

n 11 ,75 or 11 /s Resold For $308,000 $118/sf in 2012.

Sold For More!


P i i C t H I Ch i S bdi i iP i i C t H I Ch i S bdi i i


12/19


Resale: Juban Parc Denham SpringsResale: Juban Parc Denham Springs 11387 Rossow Ct 1,702sf 6/3/2.5 Sold

in 2012. Pre-Listing Appraisal For 2012 Sale


Comparable Homes In Competing Subds WithNo Lower Quality Homes Sold For $108/sf +/-

This Home Sold for $11/sf Less or -10% Less

P i i C t H I Ch i S bdi i iP i i C t H I Ch i S bdi i i


13/19


Resale: Woodstock In CentralResale: Woodstock In Central 4877 Woodstock Way 1,837sf 7/3/2

ustom u t ome n 11, a e ot Sold For $224,900 $122/sf in 2013.


Comparable Homes In Competing Subds WithNo Lower Quality Homes Sold For $130/sf +/-




14/19


Resale: Woodstock In CentralResale: Woodstock In Central 4861 Woodstock Way 2,907sf 8/4/3

Custom Built Home In 2009 Lake Lot IG

Pool, Many Extras Sold For $355,000

$122/sf in 10/2012.


Comparable Homes In Competing Subds With NoLower Quality Homes Sold For $126/sf +/-




15/19


Market Is ShowingMarket Is Showing Ascension: Sold For $19/sf Less

Ascension: Sold For $14/sf Less

Ascension: Sold For $23/sf Less

Ascension: Sold For $5/sf MORE


EBRP: Sold For $8/sf Less

EBRP: Sold For $4/sf Less



16/19


Market Is ShowingMarket Is Showing On Average, Market Is Showing Sales

The Most Severe Impact In ALL ofGreater Baton Rouge Is In Acadiana Of

Ascension Subdivision

Establisin A Listin Price In Better


2013-2014 Market May Begin At $8/sfto $10/sf +/- Less Than Market And

Stair Step Downward Upon Motivation



17/19


Subdivisions Im NOTConcerned About Where

Subdivisions Im NOTConcerned About Where

Lower Quality Built Homes AreEntering Late, Where The

Majority Of Homes Already

Lower Quality Built Homes AreEntering Late, Where The

Majority Of Homes Already


Quality Quality



18/19


Subds Not Concerned With...Subds Not Concerned With... Jefferson Crossing: 2 Lots+/-

Manchac Harbor: 26 Lots +/- Out Of 230Total Lots or 11%

Oaks On The Bluff: 5 Lots +/- Out Of 55+/- Lots or 9%


ena ssance: ots er ega ewsOut Of 109 Total Lots or 75



19/19


My Contact InfoMy Contact Info

Bill Cobb, Appraiser Appraisal:

www.homeappraisalsbatonrouge.com

Office: 225-293-1500

- -


Best Way To Get In Touch) Baton Rouge Housing Reports:

www.batonrougehousingreports.com

pricing custom homes in changing subdivisions

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