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Started By
Message
1
Posted on 8/15/16 at 9:53 am to JOHNN
quote:
people trying to cash in on this, in my opinion it only really works if you already have a house plus one listed.
This is my situation. I listed last week but no, I'm not going to try and take advantage and raise the price.
It's not BR property, but I know one that is coming up this fall and it did not flood.
Posted on 8/15/16 at 9:59 am to ihometiger
I would bet those moves are temporary. It would lose the br market and possibly take some backlash if they moved for good.
Posted on 8/15/16 at 10:22 am to heartbreakTiger
My neighborhood didn't flood at all, there is one for sale now and it wouldn't bother me at all if they ended up selling high and raising the comps.
I doubt it goes up much though.
I doubt it goes up much though.
Posted on 8/15/16 at 10:36 am to udtiger
It'll take a while for trust to be there. The houses just flooded but for many they were not in the 100 years flood zone and likely will not flood again in our lifetime.
This was a 1 in 1000 years flood.
This was a 1 in 1000 years flood.
Posted on 8/15/16 at 10:38 am to LSUBoo
If someone's house is high and dry what is so wrong with taking advantage of that? I mean it's legitimately a better value. Of course there will be a short spike as anyone house shopping right now will have a lot less options because a certain percentage of homes for sale will need flood repairs.
That's life, I fail to see what is wrong with the situation.
That's life, I fail to see what is wrong with the situation.
Posted on 8/15/16 at 10:40 am to baldona
unless you are looking to move from the area, the house spike wont help when you buy high elsewhere.
Posted on 8/15/16 at 10:51 am to heartbreakTiger
quote:
unless you are looking to move from the area, the house spike wont help when you buy high elsewhere
That is exactly what I said. I am sure I could make a huge profit if I sold my place. But unless I am willing to move away or rent an apartment what good does it really do?
Posted on 8/15/16 at 5:48 pm to Restomod
Prices went up almost 250% in a month. It didn't have anything to do with wanting to live by the beach.
Posted on 8/15/16 at 5:58 pm to TrueTiger
quote:
I recall that after Katrina there was a spike in house prices for intact homes in Baton Rouge and the Nothshore
There will be a short term spike in rental housing and real estate that's either undamaged or repaired the next 6-10 months.
Baton Rouge is lucky none of the major business centers like downtown, Exxon, or even LSU were greatly impacted....if at all.
This post was edited on 8/15/16 at 6:00 pm
Posted on 8/15/16 at 6:02 pm to Isabelle81
Well I'm with you; just because they can legally gouge doesn't mean that they should or that it's the right thing go do. One factor, however, is that Ascension Parish has scant little rental property. Apartment complexes seem to be the only thing they zone; plus there are so many developments that allow you to get in at a mortgage under $900 a month that the margins for rentals aren't there I guess.
BR and Ascension real estate spiked for a while because NOLA was shut down or 2 months. BR won't be shut down, so I expect dry real estate in BR to spike for a while.
I have a 3 bedroom on the market in Lafayette, in a nice, convenient neighborhood that was dry. I'm not raising the price.
BR and Ascension real estate spiked for a while because NOLA was shut down or 2 months. BR won't be shut down, so I expect dry real estate in BR to spike for a while.
I have a 3 bedroom on the market in Lafayette, in a nice, convenient neighborhood that was dry. I'm not raising the price.
This post was edited on 8/15/16 at 6:03 pm
Posted on 8/15/16 at 6:06 pm to ihometiger
quote:
Massive amount of movement to NOLA & Houston
Seriously. If people are going to artificially frick the real estate market up just because they're greedy and know they can get away with it, frick Louisiana. Get out, move to Texas.
Let's see how the state handles it when a large portion of their working young leaves the state and become producers for another state.
Posted on 8/15/16 at 6:28 pm to wadewilson
quote:
Let's see how the state handles it when a large portion of their working young leaves the state and become producers for another state
You mean even more than usual?
Kidding aside......none of the city's major employment base was impacted. For that, we should be thankful. People will be scrambling for a few months to make repairs and find temporary housing.....but I think life will go back to normal very quickly.
Posted on 8/15/16 at 6:33 pm to member12
Livingston Parish will come to a screeching halt as to new demand. Baton Rouge will go up in demand.
Posted on 8/15/16 at 6:40 pm to wadewilson
quote:
Let's see how the state handles it when a large portion of their working young leaves the state and become producers for another state.
1982 says "hi."
Posted on 8/15/16 at 6:47 pm to Jake88
Big difference between New Orleans (Katrina) and Baton Rouge (Big Flood) is the significant difference in numbers of people who had flood insurance in New Orleans. The percentage of people who owned a home and had flood insurance was around 80% due to required flood insurance for those with mortgages. if only 25% of the residents only have flood insurance the impact for a housing spike will be a lot less pronounced.
Posted on 8/15/16 at 7:02 pm to Isabelle81
quote:
I hope it doesn't happen again. What a way to take advantage of people when they are rock bottom. My daughter lost her house in Katrina. She wanted to find a place in BR to be near us, but the closest she could find was a filthy trailer in Church Point for $2000/month!!! Hope the owner burns in hell for a long time.
Without high prices (market rates) then people who may just want something out of convenience and not true need may buy up resources that would otherwise be available to those who really need it. Prices regulate supply and demand and ensure that all needs are met - better than government controls. See Venezuela for how price controls work.
Posted on 8/15/16 at 7:02 pm to ihometiger
quote:
Massive amount of movement to NOLA & Houston areas right now by businesses and people who flooded
I think this is wishful thinking on your part. It's not reality.
Posted on 8/15/16 at 7:05 pm to ihometiger
quote:
I'm saying many national corporate decisions are being or have been made to relocate out of Baton Rouge.
To Houston? Where it flooded there earlier this year?
Posted on 8/15/16 at 7:08 pm to ihometiger
quote:
I'm saying many national corporate decisions are being or have been made to relocate out of Baton Rouge
And move to Houston?.....to trade one flood threat for another.
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