http://batonrougehousingreports.com/ – In my Week In Review Series of weekly Greater Baton Rouge home sales activity in the 8 Parish MSA, recently I’ve been reporting on the total percentage of distressed sales as a percent of total sales.
For Week In Review In Baton Rouge Real Estate February 11-18, 2012 , that percentage was 51% of total sales were distressed in some form. This may or may not have been totally accurate and here’s why below.
27 New GBR Home Sales were incorrectly have the Short Sale YES/NO box checked YES. This means that as of 02/23/2012, there have been 675 total sales. Of those 675 sales, 162 of them were new homes. GBRMLS is currently reporting that 27 of those 162 homes are checked as “Short Sales” when they are not actually short sales.
I’ve submitted multiple corrections on new construction MLS listings checked YES for “Short Sale” when they’re new construction, not on the market longer than average and are not short sales. In some of my earlier reporting for 2012, I’ve noted Short Sales percentages as incorrect because GBRMLS stated these as short sales.
As soon as these are corrected, I will issue a revised report this weekend as a cumulative number.
NOTE: I’ve been hired for a local Government Housing Study, which has State of Louisiana criteria that designate REO, Short Sale and 3rd Party sales as distressed. I said this to define a distressed sale.
Bill Cobb, Appraiser