Madewood Homes

📍Your Weekend Roundup Is Here!

This is your one-stop-shop for weekend events, local businesses, interesting insights and more. Let us know what you think!

https://mailchi.mp/madewoodhomes/your-weekend-roundup-is-here-8-15-24

Local business in this week's issue:
Leah Marchand Art

"Mortgage rates are plunging on the news of weak job growth and rising unemployment."

"Homebuyers who were priced out a few months ago should re-check whether they can enter the homebuying market if they have secured jobs."

Excited to be moderate the panel this evening. If you've thought about investing in real estate, this is the place to learn and network.

This may be the time to get serious about buying if you've been holding off. Rates dropped pretty significantly today. Please reach out and we'll connect you with a local lender ASAP.

📍Your Weekend Roundup Is Here!

This is your one-stop-shop for weekend events, local businesses and more. Let us know what you think!

https://mailchi.mp/madewoodhomes/your-weekend-roundup-is-here-8-1-24

Local business in this week's issue:
Studio C323 Photography

Happy Tuesday, everyone!! 🥳
Here are some interesting national market stats from May-July 2024 (Provided by the National Association of REALTORS®):

As you can see in the first photo, according to NAR's Housing Affordability Index, housing affordability declined nationally in May compared to the previous month. The monthly mortgage payment increased by 3.9%, while the median price of single-family homes rose by 5.7% (from $401,500 to $424,500) year-over-year. The monthly mortgage payment increased by $87 from last month.

The second photo shows that Sentrilock home showings were up 2% year-over-year. Showings increased in two of the four regions: The Northeast had the biggest increase (34%), followed by the South (8%). The Midwest had the only decline (-6%). The West was flat, showing no change (0%).

Lastly, the third photo reviews how the 30-year fixed mortgage rate from Freddie Mac was nearly unchanged at 6.78% at the end of last week vs 6.77% the week before last.

If you have any questions about the market, feel free to reach out to us!

This seems to be the million-dollar question we ask ourselves these days. If you're interested in learning what your home is worth and how much equity you already have, reach out today. You might be pleasantly surprised!

Foreclosure fears? Let's dive into the facts of 2024. Despite the end of pandemic relief programs and economic shifts, we're not witnessing a spike in foreclosures. Actually, we're sitting at only 60% of the foreclosure levels seen pre-pandemic. 🏡

Experts predict that it might take until mid to late 2024 to even approach the foreclosure rates of 2019. Why? Because the economy is resilient, and homeowners who invested during 2020-22 have seen significant equity growth thanks to property appreciation. This equity boom means fewer homeowners are forced into foreclosure, underscoring a robust real estate market.

It's a sign of a correcting market rather than instability. For a deeper understanding of how this impacts you, let's chat!

The Paris 2024 Summer Olympics kickoff today with the opening ceremony at 12:30 PM Central! 🥇 See ESPN’s list of 30 U.S. Olympians to root for in the upcoming Paris games.

https://www.espn.com/olympics/story/_/id/40585259/americans-olympians-watch-paris-olympics-biles-ledecky-richardson

🌟 Local Business Spotlight!

Yesseaux Title and Law
Greater Baton Rouge Area & Beyond

Yesseaux Title and Law, L.L.C. is an independent, locally owned real estate title company serving the Greater Baton Rouge Area and beyond. Their goal is to make the closing process as easy and accessible to clients as possible. They do this by providing excellent communication and a streamlined process throughout.

Their services include home purchases, refinances, construction loans, reverse mortgages and title insurance. Their attorneys are also able to draft and execute the following: Successions, Donations Inter Vivos, Powers of Attorney, Quitclaim Deeds, Wrap-Around Mortgages, Credit Deeds and Certificates of Authority. They handle Specific Performance and Contract Disputes as well, so you never need to worry about being left behind if a deal falls through. In short, they take on as much of the stress of the home-buying process as possible so you don’t have to!

📍Your Weekend Roundup Is Here!

This is your one-stop-shop for weekend events, local businesses and more. Let us know what you think!

https://mailchi.mp/madewoodhomes/your-weekend-roundup-is-here-7-25-24

Local business in this week's issue:
Yesseaux Title and Law

How much could your home rent for? Collect a check every month and let us handle the rest 💰🏡

Happy Tuesday, everyone!! 🥳
Let's break down these real estate metrics from June 2024 to better understand the current market conditions in East Baton Rouge Parish.

First, the Months Supply of Inventory is 3.79, which means that at the current rate of sales, it would take approximately 3.79 months to sell all the homes on the market. This indicates a relatively tight housing market with limited inventory available for buyers.

The 12-Month Change in Months of Inventory is +33.45%, showing a significant increase in the supply of homes compared to the previous year. This could be a positive sign for buyers as more options become available.

The Median Days Homes are On the Market is 17, which suggests that homes are selling relatively quickly. This could indicate high demand in the market and competitive bidding among buyers.

The List to Sold Price Percentage is 97.7%, indicating that homes are selling close to their listing price. This could mean that sellers are pricing their homes accurately and buyers are willing to pay close to the asking price.

Lastly, the Median Sold Price is $274,999, giving us an idea of the average price of homes sold in the market. This information can be helpful for both buyers and sellers in understanding the current pricing trends.

Overall, these metrics suggest a dynamic real estate market with low inventory, quick sales, and homes selling close to their listing prices. Buyers may need to act fast in making offers, while sellers may benefit from pricing their homes competitively to attract buyers in this active market.

🌟 Local Business Spotlight!

House Call Central & Surrounding areas
Central, Baton Rouge & Surrounding Areas

House Call is our #1 recommendation to help our clients safeguard their most valuable investments: their homes. They provide expert home inspections with cutting-edge tech for top-quality reports. They also provide video pipe inspections, premium pest control and rapid insect reports—guaranteed satisfaction!

📍Your Weekend Roundup Is Here!

This is your one-stop-shop for weekend events, local businesses, gift ideas and more. Let us know what you think!

https://mailchi.mp/madewoodhomes/your-weekend-roundup-is-here-7-18-24

Local business in this week's issue:
House Call Central & Surrounding areas

Beautiful new rental on the market! Extremely well kept, desirable area. Check it out!

9012 Falling Oak Dr, Baton Rouge, LA 70817 | Zillow This 1973 square feet Single Family home has 3 bedrooms and 2 bathrooms. It is located at 9012 Falling Oak Dr, Baton Rouge, LA.

Happy Tuesday, everyone!! 🥳
Here's your National and Local Market Updates for June 2024 (Provided by the Greater Baton Rouge Association of REALTORS®):

U.S. existing-home sales fell for the second month in a row, sliding 1.9% month-over-month and 1.9% year-over-year, according to the National Association of REALTORS® (NAR), with sales down in all four regions of the country. Higher borrowing costs and accelerating home prices continue to weigh on demand, pushing some prospective buyers to the sidelines and causing market activity to slump ahead of summer.

Home prices have continued to climb nationwide, despite an uptick in inventory this year. Nationally, the median existing-home price reached $407,600 as of last measure, a 5.7% increase from the same period last year and a record high for the month, according to NAR. Meanwhile, total inventory heading into May stood at 1.21 million units, a 9% increase month-over-month and a 16.3% increase year-over-year, for a 3.5 month’s supply at the current sales pace.

The Greater Baton Rouge Area posted a decrease in Closed Sales, Pending Sales, and an increase in New Listings. Buyers are beginning to see relief from the strong sellers’ market with an increase in inventory. There was a slight increase in the Median Sales Price and a slight decrease in Percent of List Price Received, benefiting sellers and buyers respectively. The market begins to show signs of relief for buyers with homes having an increase in days on market. The Month’s supply of inventory increased substantially.

▶️ New Listings increased 5.6% to 1,343
▶️ Pending Sales decreased 13.8% to 859
▶️ Closed Sales decreased 1.0% to 1,017
▶️ Median Sales Price increased 1.2% to $260,000
▶️ Percent of List Price Received decreased 0.1% to 97.8%
▶️ Days on Market Until Sale increased 21.1% to 69
▶️ Inventory of Homes for Sale increased 25.3% to 3,777
▶️ Months’ Supply of Inventory increased 36.4% to 4.5

🌟 Local Business Spotlight!

The Banten House Tea Room
Jackson, LA

The Banten House Tea Room is a local favorite in Jackson, LA. It’s the perfect place to sit back and enjoy the slower pace of small-town life. Enjoy a visit with a friend or two over a cup of tea and some freshly baked scones. It’s a great space for small gatherings, showers or book clubs. With a wide variety of black, green, white and herbal tea, there are plenty of options to pair with seasonal scones, charcuterie or finger sandwiches. The service is always professional and personable. It’s also a convenient walk to the local antique shops through the charming town of Jackson.

📍Your Weekend Roundup Is Here!

This is your one-stop-shop for weekend events, local businesses and book recommendations. Let us know what you think!

https://mailchi.mp/madewoodhomes/your-weekend-roundup-is-here-7-11-24

Local business in this week's issue:
The Banten House Tea Room

"The 30-year fixed mortgage rate from Freddie Mac increased to 6.95% over the last week from 6.86%. This is the first weekly increase since May 30."

In the spirit of the 4th of July holiday, we’re excited to say that we’re taking off for a couple days to celebrate and rejuvenate! Nevertheless, if you’re staying in town, we wanted to make sure you were in the know on where you can celebrate the 4th of July in Baton Rouge. See the article links below for lists of events happening in the area!

We wish you a wonderful July 4th holiday filled with BBQ, fireworks, and all the red, white, and blue vibes. Let's celebrate the land of the free and the home of the brave!

https://www.visitbatonrouge.com/blog/post/where-to-celebrate-independence-day-in-baton-rouge/

https://www.225batonrouge.com/things-to-do/fireworks-festivals-pool-parties-celebrate-july-fourth-around-baton-rouge

NAR released a summary of pending home sales data showing that May’s pending home sales fell 2.1% from last month and decreased 6.6% from a year ago.

All four regions showed declines from a year ago. The South region had the biggest decrease of 10.4%, followed by the Midwest with a decline of 5.6%. The Northeast fell 2.3%, followed by the West with a reduction in sales of 2.1%.

Compared to last month, two of the four regions showed increases in contract signings. The West had the biggest incline of 1.4%, followed by the Northeast with an increase of 1.1%. The South had the biggest decline of 5.5%, and the Midwest had a drop in contracts of 0.4%.

More info at this link: https://www.nar.realtor/blogs/economists-outlook/pending-sales-in-may-2024-hit-a-new-low

Time to celebrate our independence with a 4th of July cookout! Here are some great tips for those hosting this year:
-Buy decorations from Dollar Tree or Target, or even consider making your own to save money
-Ask each person to bring a side dish
-Clean grill and patio furniture before company arrives
-Set up games for entertainment
-Be cautious if setting off fireworks (consider pets and young children)

And most importantly, have fun! Happy Independence Day!

Rather than pavers and plantings, you can accentuate the driveway with stain colors that complement the house.

Don’t Overlook the Driveway’s Power to Enhance Curb Appeal

📍Your Weekend Roundup Is Here!

This is your one-stop-shop for weekend events, local businesses and tasty recipes. Let us know what you think!

Link to newsletter: https://mailchi.mp/madewoodhomes/your-weekend-roundup-is-here-6-27-24

Local businesses in this week's issue:
harris_totalworks
Leah Marchand Art

Here's Your National Market Update for May 2024:

💫 Existing-home sales slipped 0.7% in May to a seasonally adjusted annual rate of 4.11 million. Sales descended 2.8% from one year ago.

💫 The median existing-home sales price jumped 5.8% from May 2023 to $419,300 – the highest price ever recorded and the eleventh consecutive month of year-over-year price gains.

💫 The inventory of unsold existing homes grew 6.7% from the previous month to 1.28 million at the end of May, or the equivalent of 3.7 months' supply at the current monthly sales pace.

https://www.nar.realtor/newsroom/existing-home-sales-edged-lower-by-0-7-in-may-as-median-sales-price-reached-record-high-of-419300