Memorial Day Real Estate Updates

Say Thank You to A Veteran

Memorial Day, which falls on the last Monday of May, commemorates the men and women who died while serving in the American military. Originally known as Decoration Day, it originated in the years following the Civil War and became an official federal holiday in 1971. Many Americans observe Memorial Day by visiting cemeteries or memorials, holding family gatherings and participating in parades. Unofficially, at least, it marks the beginning of summer.

I had several uncles serve in WWII and they were very stoic, never talked about it.  I knew one uncle had many medals from heroically serving in combat, but you never saw them.  I have another uncle who is now in his mid 80's and is talking about the war alot since his wife of 55 years has passed on.  Horrible memories but he felt is was his duty and he is proud of his service.  So am I, and I make sure every Memorial Day I call him to thank him once more for what he did for our country and the world.  His best stories, however, are about when he returned from the war and met my Aunt Ruby!  What a story! 

Take the time this weekend to tell our service men and women how much you appreciate what they do for us.  Make them proud and make them feel their contribution is important - today and yesterday.

How the Real Estate Market Doing?

Everybody wants to know if the Greater Baton Rouge Real Estate Market is headed the way of parts of Floriday, Las Vegas, or Phoenix.  I just had these charts put together showing a 5 year Average Sale Price and a 5 year Median Price (the median is where half the sales are above that number and half are below).  It is obvious when hurricane Katrina affected our market, but you will also note that the height of our market was in 2008!  And, most importantly, that the prices have not gone back to the 'pre-Katrina' days!!  What interests me the most is how steady the 200 day and the 90 day lines are.  We have always had a pretty flat real estate market with steady appreciation, and these charts show that we are still on a solid path.

Below is the 5 year Median

 Please feel free to share this with your friends!

Can the Interest Rate Go Any Lower?

Well, I am now hearing that, yes, it can!!  Rates have been hovering around 5% for a 30 yr fixed, for quite some time.  I am now seeing that dip into the upper 4%.  If you would like to know if refinancing would be good for you, give me a call and we'll run your numbers.  Of course, this makes an excellent time to buy another home.  Let me run the numbers on that for you also!  As always, just call 225-298-6900 and we'll get you the answers you need!

And, yes, our market does have some distressed properties and a few bank owned propertiesIf you want a list of these properties, just call us at 225-298-6900 or email me at pat@patwattam.com and we'll get that list to you!

Contact Information

Photo of The Pat Wattam Team Real Estate
The Pat Wattam Team
RE/MAX First
4750 Sherwood Commons
Baton Rouge LA 70816
225-298-6900
Fax: 225-295-1234

RE/MAX First
Each Office Independently Owned and Operated
Main: 225-291-1234