Bill Cobb Appraiser recently completed a home appraisal of one of the 105 homes with lake views inside Lake Shewood Acres Subdivision. According to the homeowner of this large 4,000+ sq. ft. home overlooking the lake, twenty-nine (29) of the one-hundred-five (105) homes on the lake did flood. This owners home flooded 1 foot and was repaired and renovated.
Lake Sherwood Acres, with awesome lake views, enjoys the perfect location near Sherwood Forest at Coursey Blvd near the enter of Baton Rouge, yet is an older development sharing a little bit of lackluster appeal. Bill Cobb Appraiesr says this repeating the sentiment of the homeowner for the appraisal, their wonder why younger couples aren’t moving into it and revitalizing it instead of moving out to say University Club Plantation and spending $600K+ and be so far out of the center of Baton Rouge.
Here’s the market conditions reported within this appraisal on April 22, 2017:
Unknown Median Sales Prices since last sale took place in 10/2016. 42 MONTH SUPPLY. 14 Competing Listings IS AN OVERSUPPLY. Weaker 94% List-To-Sales Price Ratio.
Since Janurary 2016 in Lake Sherwood Acres, there’s been 25 Sales from $220,000 to $580,274, Median Sales Price $300,000, Median Sold Price $94/sf, Median LP/SP Ratio 96%, Median 45 Days On Market, Median Size Living Area of Homes Sold: 3,351sf.
Any questions about Lake Sherwood Acres Bill Cobb Appraiser can help answer?