Home prices in the fourth quarter of 2012 showed a rate of annual appreciation greater than in any quarter since the end of 2005 the National Association of Realtors® (NAR) said today.
So, Why Is This Grossly Misleading For Baton Rouge Real Estate?
Because the broad general public read the newspaper, thinks their home is rising in value so they apply to refinance not knowing that the recovery in Baton Rouge Real Estate IS NOT AN EVENLY SPREAD FACT!
This is true for some of Baton Rouge Real Estate sales in the more favorable Zip Codes where homes are selling faster based on higher desire, especially in 70808 and 70810. HOWEVER, Not ALL of Baton Rouge Real Estate is doing well though….it’s not an evenly spread recovery by any means in 70714, 70805, 70811, 70812, 70814 and some of 70815. I’ve examined 3 Zip Codes this week that are experiencing foreclosure rates in the above 50% range since 02/2010 cumulative numbers. And, Sherwood Forest Subdivision, in 2013, has a median sales price of $142,500 when in 2010 it was in the $180’s based on GBRMLS Numbers.
See on www.mortgagenewsdaily.com