A new report out today by Standard and Poor shows huge drop in house prices from a year ago. Nationally, the numbers look pretty grim when it comes to buying and selling your home, but an independent report, along with people working here in Baton Rouge say the city is a bright spot.
Kim Miller has been showing real estate in the Red Stick for nine years, but lately, house hunters have a new round of questions. “Is the market stable? Can I buy; is this a good time to buy?” Concerning that, Miller puts to rest when it comes to both buying and selling. She says it is a good time to buy.
Nationally, the real estate market has taken a hit with foreclosures and home prices hitting new lows and sparking a wider economic crisis, but REALTOR® associations in our area say we are not necessarily a part of that trend.
Sandy Daly with the Association of REALTORS® says, “We’ve actually seen an appreciation in our home values, small but between one and two percent.”
In fact, Baton Rouge was ranked one of the top ten hottest markets for buyers in a 2009 survey by a market forecaster called Housing Predictor.
So why is Baton Rouge seemingly bulletproof? Experts we spoke with say it could be because we didn’t experience the surge in prices known as the bubble. That means now we aren’t seeing the bust. Maybe we didn’t experience the good times, but weren’t not experience the bad times.
A wave of stability and balance REALTORS® hope to ride out for the near future. To rank the cities, Housing Predictor uses factors like stronger employment, prospects of growth, and promises of prosperity. The website’s top ranked city is McAllen, Texas.