Stonegate Subdivision 70815: 2 Things To Consider Before Buying A Home In There
My Mission In Life Within Baton Rouge Real Estate Is: “Helping Locals Make Informed Housing Decisions” and that’s what this article intends to accomplish.
Stonegate Subdivision is very conveniently located near the center of Baton Rouge 70815. It’s comprised a garden homes and then a later section or newer section of upscale garden home on far left side (newer for development. The concrete streets in subdivision are privately maintained and therein lies a major issue and major expense, the cost to repair these streets. There’s supposed to be a functioning HOA or Home Owners Association to collect monies to accrue that money over years for such repairs.
I was recently in Stonegate Subdivision to perform a Baton Rouge Foreclosure Home Appraisal and noticed 2 very disturbing trends.
1.) STREETS WITH MAJOR POT HOLES – IS THERE AN ACTIVE HOME OWNERS ASSOCIATION AND “IF” THEY ARE COLLECTING DUES, WHY ARE THE STREETS NOT BEING REPAIRED?
Trend One is it appears the HOA or Home Owners Association may not be functioning properly. I saw a middle aged lady walking in subdivision and stopped her to find out what was going on. She said she was the daughter visiting her mother who owns a home in there and there used to be a functioning HOA but no longer and that’s why the streets are in the condition they’re in. NOTE: 3 of the 5 Listings in Stonegate state there’s a $100 per year HOA Fee. Is this a mandatory fee and if it is, then why are the private streets in such disrepair? Where’s this $100/year times approximately 115 lots or $11,500 per year in dues, which seems too low to adequately maintain these concrete streets. Concrete is expensive these days.
RIGHT NOW, THIS IS A HOME VALUE ISSUE IN THERE!
BEFORE YOU BUY A HOME IN THERE, YOU SHOULD GET SOME ANSWERS AS TO WHY THIS IS BEING ALLOWED, WHO’S RESPONSIBLE AND WHEN WILL THIS BE REPAIRED!
2.) FLOODING OF 1 KNOWN HOME.
Stonegate Subdivision 70815 isn’t in a Flood Zone (that blue area on the map) where flood insurance premiums would be high. So, then why did 1 certain home in the map location below have 1′ to 1.8′ of flood water against home recently, see the photos below. That grass line along that wall is where grass was floating up to that level. Was the neighbor’s Inground Pool to blame? Have any other homes flooded in there? The yard of this foreclosure I was so soggy my shoes were sinking into mud.
NOTE: This could very well be 1 isolated instance of flooding in Stonegate. I was shocked to see this level of grass against this wall and around back of home as well.
The following is a report on home sales that took place and the prices paid for these homes.
06/2012-2014 YEAR TO DATE STONEGATE Trends:
6 Sales From $84,000 to $173,000
Median Sales Price $126,500
Average Sold Price Price $124,333
Average Sold Price Price Per Square Foot $82/sf
Average Listing To Sales Price Ratio: 96.5%
Average Days On Market: 98 Days
CURRENT STONEGATE SUBDIVISION LISTINGS:
5 Listings From $138,500 to $167,500 from $81/sf, $90/sf, $92/sf to $100/sf..and remember that support is at $82/sf.
Average Listing Price $153,180
Median Listing Price $157,900
Average Listing Price Price Per Square Foot $90.66/sf
Average Home Listing Has Been On The Market for 90 Days.
NOTE: All 5 Listings are Active Listings, not Pending or Under Contract and 3 OF 5 HAVE HAD PRICE REDUCTIONS ALREADY.
GREATER BATON ROUGE REAL ESTATE DATA NOTE:
Based on information from Greater Baton Rouge Association of REALTORS®\MLS for period 06/01/2012 to 02/16/2014, extracted on 02/16/2014.
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