Darryl Brasseur

Signs Of The Times In Home Sales (

Darryl Brasseur — Mon, 14 Sep 2009 23:48:00 GMT

by Darryl Brasseur, REALTOR Tiger Town Realty Baton Rouge Louisiana

The American dream of home ownership in BATON ROUGE LOUISIANA is still attainable, only the rules have changed and buyers need to be made aware of them. Exactly one year after the collapse of the housing market triggered the financial meltdown, most lenders are requiring more money up front along with higher credit scores and proof of income. I just recently had a buyer in BATON ROUGE LOUISIANA that was turned down for a $215,000 mortgage. This young, hardworking couple was applying for a VA loan and had $47,000 in cash for the downpayment & closing costs along with a FICA score of 750. Problem was, he is a 4th generation store owner in BATON ROUGE LOUISIANA and their income was hard to prove. The lender said they could not consider his wife's income because she was working in a field that she did not major in. Isn't that CRAZY! My suggestion to any buyer is to make sure all paperwork is in order. Patience and persistence is required. And NEVER ask about a sub-prime mortgage.

We are having to work by a totally new set of rules from a decade ago when home prices soared and mortgages were easy to come by. For people that are trying to sell their homes, the rules have also changed. Be patient and maybe even lower your asking price because the balance of power has swung towards buyers. Housing bubbles have happened before and experts warn that it could happen again. Already, home sales and prices in the BATON ROUGE LOUISIANA area are rising slowly, being helped by tax incentives for first time home buyers. Hopefully it will continue to rise

Angry at your Realtor....Look in the Mirror!

Darryl Brasseur — Sat, 05 Sep 2009 03:07:00 GMT

Most of my listings are homes that were not sold by another brokerage. I work the "expired" niche, and I speak with people who have been trying to sell their home for 3, 6 and sometimes 12 months or more with another broker before they decided to go in another direction at the end of their contracts.
And some of their reasons for choosing their last agent blow me away. Before I go on, let me share something. Just yesterday, I was in Best Buy to upgrade my Blue Tooth. Among my fellow shoppers were some people driving their sales clerk utterly nuts. They were couldn't decide whether or not to buy something for $59.99 or the other model for $79.99. You would think they were trying to choose a brain surgeon. I've seen the same thing at car dealerships, hobby shops, the Post Office ("To confirm delivery or not? I shall hold the 40 people behind me up as I ponder..."), and plenty of other places that are small potatoes compared to the largest transaction of one's life.
Yet many of these same people, who will drive to 3 different department stores to match curtains and blankets, will end up listing their home with someone they hardly know anything about. Their reasons for choosing their real estate agents run the absurd to the height of greed.
"He quoted me the highest price." "She is my hairdresser's daughter." "I know him from Little League." "She advertises in the church bulletin."
I mean, gag me. Would you have your gall bladder removed by a doctor just because he's a fellow stamp collector? People have made more effort choosing between 2% and skim milk at the grocer!
Here are some classic examples of poor judgment in choosing an agent I've heard from the past 2 weeks:
They said no to the owner of an independent firm who sells a high volume of homes because they were put off by his car and, and they prefer a larger franchise.
He said no to an experienced agent with a well known local office with many years of success under her belt because she advised him that harvest gold appliances and shag carpeting might not be well recieved by the buying public.
She told a successful team from the next town to hit the road because she weren't happy with the valuation they made of the home.
And on it goes. Expired sellers know this the hard way- TRACK record, references and a strong marketing plan have to trump being a fellow cat lover, coaching little league, and other non-related things. This is the largest transaction of your life. A mistake here costs far more than buying the wrong dishwasher, car, or bluetooth. And not all agents are the same. You have to choose an agent the same way you choose a doctor or lawyer. Look at the professional credibility and track record. Those are paramount!

Who is setting the market? Buyers or Appraisers? Baton Rouge, La. Real Estate Blog

Darryl Brasseur — Thu, 25 Jun 2009 02:29:00 GMT

There has always been a saying in Real Estate "Buyers set the market". After all a home is only worth what someone will pay for it, right?

In a recent article put out by Bloomberg "Home-price Recovery May be Undermined by Appraisal (Update 1)" buyers are not the ones setting the market.

Especially when they purchase using Fannie Mae or Freddie Mac loan packages. According to Bloomberg there have been multiple deals that have crashed and burned due to appraisals coming in lower than the agreed upon sales price. With the new laws set into place as of May 1, 2009 there are even tougher standers to be upheld. A watch dog of sorts for the mortgage company and appraiser relationships.

"So what did the appraisal come in at?" is a question that I have heard many times over from a prospective buyer. The fact of the matter is that most appraisers (unless there is a latent defect with the home) bring the appraisal in at or slightly above the contract price. Why do appraisers need to know the contract price before they complete the appraisal?

I am guessing that if they want more business from that mortgage company they will bring it in at a value so that the deal won't fall apart. But who are they serving ultimately? The mortgage company that will be stuck with a property that can't be sold for what they bought it for, the owners who now can't sell because the home value was inflated?

I have also heard the saying "you have to sell this home 3 times" meaning that you need to catch the attention of the buyer, their mortgage company and appraiser before you can purchase the home.

Of course, if you have a bunch of money to put down you can alleviate this problem, the fact of the matter is most people don't.

So tell me what you think!

Are you telling your clients that buyers or appraisers are setting the market today?

Single Story For Sale in Rural Ascension

Anonymous — Thu, 28 May 2009 06:00:00 GMT

TOTALLY UPDATED with Detached Apartment

• 2,068 sq. ft., 2 bath, 3 bdrm single story "Traditional" - MLS® $215,000

Rural Ascension, Gonzales - This unique property is a real jewel that has been totally updated. It boasts of 2068 square feet of living area. Large crown molding is throughout. Home has natural gas along with a 3 year old roof and A/C unit. It sits on 1.72 acres and has plenty of shade trees. A detached 1138 Square foot mother-in-law suite can easily be converted to an office or apartment. It has been totally updated also with a 3 year old A/C unit, roof, and new designer colors throughout. The huge master bedroom has a tray ceiling with a large walk-in closet that has built in shelving. The master bathroom has a jetted tub, new fixtures, and a privacy commode. New carpet and designer colors finish it. The 2 guest bedrooms are spacious and lots of closet space and updated faux blinds. There is new carpet in all bedrooms. The Kitchen has all black appliances with the refrigerator being new. A new stainless steel deep sink with fixtures and an island with lots of cabinet space are a plus. A breakfast area, Ceramic tile counter tops & floors finish this serviceable kitchen. The formal dining room and private reading area have wood floors. The living room has a wood burning fireplace with an air circulator and a French exterior door. The laundry room has a mop sink and washer & dryer with lots of cabinets. A one bedroom/one bath mobile home is also yours. Can be used for storage or easily made habitable. Seller elects to sell property as-is pursuant to LA Civil Statue.

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