Bill Cobb, Baton Rouge’s Home Appraiser 225-293-1500, attended the annual “Trends In Real Estate Seminar” hosted by CID (Commercial Investment Division of the Greater Baton Rouge Association of REALTORS®) at L’Auberge Hotel.
The major theme heard throughout seminar: Rough Seas Are Ahead – speaking of the oil industry and Louisiana Government Budget Crisis Issues.
Residential Trends Seemed To Brightspot and you can listen to this presentation here: https://soundcloud.com/billdcobb/residential-trends-at-baton
Inventory in the most desirable zip codes within Greater Baton Rouge remains low and tight pushes up home prices.
Brian Andrews, of the Real Estate Research Institute at LSU, says regulators are now controlling commercial lending and forcing banks to lessen risk by lowering commercial exposure. The growth in commercial is unsustainable and that’s where regulators see major risk. Could this lead to less commercial development locally?
Multi family is weakening with lower rents for first time since they began surveying with 20% in concessions now in 2016. The problem is this doesn’t include 4460 new units coming on line. And, far too many units have been and are being built to serve LSU market off Burbank Drive and what if State budget woes impact TOPS funding, which help subsidize individual student funding to attend public colleges? This could further threat multi-family market.
Retail and Industrial both had weaker reports than previous years.
The Advocate and Business Report have both also reported on:
Oil prices, state budget loom over healthy Baton Rouge real estate market
Baton Rouge industrial real estate market steady, but slowed by low oil prices
The encouraging part of seminar was Elliot Eisenberg Ph.D’s Talk, you can listen here: https://soundcloud.com/billdcobb/elliot-eisenberg-talk-at-baton
Image Source: Inman.com and his article What’s Next In 2016? is here
Bill Cobb updates Baton Rouge Housing Trends at: http://www.batonrougehousingreports.com/