Mardi Gras and the Spring Market

After a winter we all are not used to, Mardi Gras, thank goodness, is here with good weather to boot. As the temps heated up this past week in Baton Rouge, 79 degrees, the buyers are back out looking at houses, offers are coming in - just a sign of things to come. With a strong economy and low unemployment, the Greater Baton Rouge Real Estate market will see another banner year in 2014. We always thought the 'Katrina' years would not be beat, but we proved ourselves wrong on that in 2012 on my team - our best year ever! Last year sales were even stronger. The best evidence of that is the amount of inventory on the market. Baton Rouge has shrunk to a 4 month supply of available houses, and Ascension Parish runs between 2 and 3 months. What has that done to pricing? So far, we haven't seen prices approach the Katrina years but if inventory remains low, prices have to rise. If interest rates remain low, then prices will climb. If interest rates rise, as expected, then prices will stay stable as they always have in our area. So, if you are thinking of selling, give us a call. We will help you decide what you need to do to get your house ready for market. If you are thinking of buying, then set up a buyer counseling interview so we can show you how to go about finding the perfect house and making it yours!! The Pat Wattam Team at RE/MAX First is always here to help!

An Exciting Time to Buy a Home

With the roller coaster ride Wall Street is experiencing, again, many people are reconsidering the stability of real estate as an investment. You know, even in the markets that are suffering, it is a great time to buy because of the ability to buy a GREAT house for a low price. I would be all over that if I were in that market!!! I mean, people can actually buy the dream home that could not have began to afford several years ago. Even if they lose money if they have a house to sell, they will more than make up for it on the home they are buying.

If you aren't in a depressed market, the fact that interest rates dropped below 6% (we were getting 5.5% one day last week!) allows anyone to take advantage of their market! Here in the Greater Baton Rouge Area not only do we have low interest rates and good loan products if you have a decent credit score (560-580) we can find a loan product that meets your needs. We also have the First Time Home Buyer Bond Money that is now available, Rural Development Loans with 100% financing (and you don't have to be in a rural area to take advantage of this program), plus FHA loans with only 3% down!!!

This is a very exciting time to be in the real estate market!!