Real estate around Baton Rouge?

quote:

---

Is my house worth more because it didn't flood?

---

In the near term, yes. Once repairs are done and inventory is back up then prices will return to normal.

quote:

---

Will there be some really good deals on some nice homes in the area because they did have flooding?

---

No, anything that is on the market isn't lasting long. I put an offer on a house Saturday and the homes we looked at earlier in the day were under contract by that afternoon and they paid the list price.

Just from my anecdotal experience, that is not the case. Prices will be trending up for the next 6 - 12 months for anything that stayed dry.

Home prices will go up as inventory was slashed almost overnight. Regardless of the flood the housing stock in EBR was under 4 months supply. It's probably hovering around 2-3 months now if I had to guess...Appraisals may not reflect the actual true market or will need time to catch up so you can't necessarily jack the price up beyond nearby comps. IF someone is going to pay more than appraisal they will have to fund beyond what the bank will loan them with cash in addition to any downpayment.

No doubt there will be a short term bump. But, I believe the long term outlook for high-and-dry neighborhoods in EBR and Ascension is very positive. When I decide to sell my home in 4-5 years I will damn sure be advertising this fact. On the flip side you will see some negative effects in areas that saw major flooding. I looked at flood maps prior to purchasing my first two homes and will continue to do so. I imagine people will pay much closer attention to this in the future.