Belle Chasse, LA: Absorption Report March, 2008
March 13, 2008 by lisa
Filed under Belle Chasse, Blog, Market Updates
It’s almost spring and time for real estate sales to heat up along with the West Bank weather. If you are selling your Belle Chasse home, do you know what your competition is?
Let’s take a look at what’s been selling in the Belle Chasse market:
Overall, the supply of Belle Chasse homes on the market is favorable when compared to many other areas of the West Bank. A balanced market has about a 6 month supply of homes for sale. (More than that means the area is leaning towards a buyers market.) But, you should also look at the supply of homes within your particular price range and neighborhood. The following is an overview of all of the homes listed in zip code 70037, along with the sales numbers for the last 90 days.
The under $180,000 price range is performing very well, but homes in higher ranges are selling more slowly. The most common reasons that I have seen lately for purchase agreement cancellations are financing and inspections. While we cannot control the rapidly changing mortgage market, you can control the condition of your home before putting it on the market. This is my monthly reminder to have your home ready to show before putting that sign in the front yard!
Related Reading:
Belle Chasse, LA: February 2008 Home Sale Market Report
If you would like more detailed information on home sales in your neighborhood, please drop me a line at lisa@lisaheindelsells.com. I’ll be happy to prepare a subdivision report and post it here for you and your neighbors to share.
Copyright 2008. Lisa Heindel, All rights reserved.
Belle Chasse, LA: What’s Selling in Belle Chasse
January 7, 2008 by lisa
Filed under Belle Chasse, Blog, Market Updates
I recently posted the 2006 and 2007 home sales information for Belle Chasse, LA here:
Belle Chasse LA: 2007 Home Sales Market Report
An overview of the Belle Chasse home sale market is a helpful tool, but I like to go a little deeper and take a look at the individual price ranges and how they are performing. This opens a window into the recent activity by home 
buyers in the area, a chance to see what they are looking for.
A review of the absorption report for Belle Chasse, LA shows that there is an overall 14.4 month supply of homes for sale. A healthy real estate market has, on average, about a 5 to 6 month supply of homes for sale. Belle Chasse currently has more than a year’s worth of inventory, if no more homes are placed on the market (which we know is not realistic). In the over $250,000 price range, only 2 sales have been closed in the last 3 months. Unless buying rates increase, sellers are in for the long haul when marketing their Belle Chasse property for sale. This is not meant to be doom and gloom, but home buyers and sellers need to be aware of the realities of today’s market.
What does this mean for Belle Chasse home sellers?
In order to grab the attention of the buyers that are looking in your market, it is critical that your home is priced right and shows well. As you can see from the chart below, there is a lot of competition for those buyers, and they will simply move on from an overpriced home rather than trying to haggle with a seller who is holding out for a higher price. With only 4.3 homes per month selling, what are you doing to make yours stand out?
What does this mean for Belle Chasse home buyers?
You have the greatest number of choices in homes for sale right now, in a wide variety of price ranges. While sellers may be flexible in prices and terms, they will not entertain offers from buyers who have not taken the time to visit their mortgage lender to get pre-approved. The first step in your home buying process is to meet with a reputable (and preferably local) lender who can explain all of your financing options and help you narrow down your price range to one that you are comfortable with.
Belle Chasse, LA Home Sales in Zip Code 70037
(as of 1/5/2008)
Reports like the one above can also be prepared for individual neighborhoods. If you would like more information on buying or selling a home in Belle Chasse, please contact Lisa Heindel, REALTOR®. I would be happy to prepare a personalized report for you or provide you more in depth information on the market in your neighborhood.
Copyright 2008. Lisa Heindel, All rights reserved.
Belle Chasse Homes for Sale - Absorption Report, November 2007
November 24, 2007 by lisa
Filed under Belle Chasse, Blog, Market Updates
An absorption report is a tool used to determine trends in your real estate market.
- How many homes are for sale in the area? Note: Homes listed with an agent only - For Sale by Owners are not included in these reports.
- How long is it taking them to sell?
- How many have sold in the last 90 days?
- What price ranges are selling fastest?
It is basically a bird’s eye view of the supply and demand in your real estate market and is a way to do a spot check of current market conditions. Remember, an absorption report is only a snapshot of the current market and the percentages change each time a new listing comes on the market or an existing listing sells.
Belle Chasse - Zip code 70037
(as of 11/24/2007)
As always, price is key to getting your home sold quickly. A poor location or less than perfect condition can be overcome with the appropriate price. Resist the temptation to price it high and wait for offers!
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