Plaquemine Homes for Sale
Surrounding land use has been limited for developing new large subdivisions so Plaquemine’s absence of buying trends for new homes reflect land being “held”. Addressing the lack of inventory in a “New Homes” environment, Iberville Parish recently demonstrated support for area growth and attracting new residents. In February 2008, Iberville Parish Council included significant funding in their 2008 capital improvements budget for water supply, gas and sewer service to Long Point Plantation Estates as necessary, which recently made the land eligible for developing. With this Parish support, our subdivision is now invulnerable to delays for offering new Plaquemine homes for sale.
Plaquemine Real Estate - Trends
With the absence of real estate statistics and 20 Minutes from Baton Rouge, in Plaquemine, we know that homeowners in the neighboring subdivision to Long Point Plantation Estates have bought homes on Kirtley Drive for as little as $115,000, 10 years ago. These homes are estimated to be worth well over $220,000 today and peaked much higher in a healthy economy. This similar, neighboring subdivision with secluded rural character proves favorable to buyers. Any available lots were booked long ago but show recent construction activity on the few remaining undeveloped lots. Here’s what the Permit Office in the Plaquemine Court House reports homeowners are spending on new construction alone on the last remaining lots:
Long Point Plantation Estates is a subdivision that will supply the demand of local buyers in Iberville Parish as well as the professional tradesmen statewide or regionwide who are seeking to move to the area as our local manufacturing sector grows with the upcoming new plant facilities. The offered lots are no smaller than ½ an acre and up to over 1 acre in size, appealing to this demographic and filling the void of a “New Homes” environment, in a safe and promising vicinity of Plaquemine, La.
The minimum home size requirement is 1800 sq. ft., we anticipate home values will not be under or over valued and fall into the current local new home purchase price average of $220,000-$270,000 or slightly above. The buyer will personally choose their own builder to fit their needs and build a home with a design approved by our Architectural Control Committee. We offer lots in many sizes and several price points for various budgets. Now buyers can take the first step of the home building process with the nominal purchase of a quality lot and have the option of building the Home now or in the future when the time is financially right for them.
Subdivision upgrades like curb and gutter, underground utilities, sidewalks, street lights and matching mail boxes will appeal to the discerning buyer while also answering the call of the “Louisiana Sportsman” by having oversized lots and encouraging buyers to bring their boat or build a (approved) workshop. Long Point Plantation Estates is located outside of city limits and having no HOA is suitable to the personality of our subdivision. Restrictions are minimal although a quality gorgeous development is our first priority guarded by Covenants protecting future resale and by the developer himself who governs the Architectural Control Committee and sells the lots directly. As far as area growth, the chart below reflects the rate at which new home construction permits are being issued in Iberville Parish:
*West Baton Rouge Parish and Addis data were collected from the US Census Bureau
and is deemed more accurate than the Iberville Parish data privately collected at Parish Permit Office.
Iberville Parish
New Residential Permits Issued Yrly Average - 38
Average new Home Construction Cost - $210,000
West Baton Rouge Parish
New Residential Permits Issued Yrly Average - 54
Average new Home Construction Cost - $271,500
Addis, LA
New Residential Permits Issued Yrly Average - 30
Average new Home Construction Cost - $225,000
Baton Rouge Real Estate - Trends
Recent Article: “B.R. Housing Market named as one of the nation’s BEST!”
-Greater Baton Rouge Business Report, June 2009
"More good news about the Baton Rouge housing market: A real estate forecasting service says the Capital Region is one of the 10 best cities in terms of future home prices. Local Market Monitor, which produces the Home Price Forecast for more than 300 cities, says home values should remain level locally over the next 12 months. Officials with Local Market Monitor credit the same factors for Baton Rouge's stability that have been repeatedly said during the national housing crisis: Home prices in the Capital Region never got out of hand, and economic growth has remained steady locally. Populations of more than 600,000 in the top 10 include Dallas, Houston …."
The chart above reflects slowing volume in the number of homes sales. "Unstable economic conditions are not solely responsible for the decline, 2005 & 2006 reflect a jump in sales after hurricane Katrina due to sudden Baton Rouge population increases" -GBRAR. The chart below shows average home sale prices have not only held but steadily increased:
*The Baton Rouge Chamber also reports the lowest foreclosure rate of 100 metro areas in 2008 and foreclosures in East Baton Rouge Parish decreased by over 8% from January to February 2009.
*Baton Rouge trends are courtesy of the Greater Baton Rouge Association of Realtors and a really good start when researching the area you want to live. Other resources for Baton Rouge news is The Advocate newspaper and for Plaquemine news is Post South newpaper.
Potential Long Term Growth in Plaquemine, Baton Rouge
There are “Projects in the works” by Iberville Parish who is recently committed to the future development of new residential areas to attract new residents.
Recent Article: “Projects in the works” - Iberville Parish December 08 Newsletter
The extension of Enterprise Boulevard from Hwy. 3066 to La. Hwy. 75
(Belleview Road) in Plaquemine, are planned for 2009, said Parish President J. Mitchell Ourso, Jr….
The parish has already had interest from several national retail companies that are interested in locating near the new Wal-Mart. A bridge over Plaquemine Bayou connecting the Bayou Jacob Road to Bayou Road is already in place near Long Point Plantation Estates subdivision providing convenient access to the new shopping centers. The plans for the road are to continue to Belleview Drive, a road project that would create a loop around the city and bring additional national retailers who have reportedly expressed interest to the community.
Recent Article: “No Roads, Slow Roads or Toll Roads” -The Baton Rouge Advocate, March 2008
From May 2007 - May 2008, a team of industry leaders chosen by the East Baton Rouge Engineer Selection Board will determine the Baton Rouge Loop corridor and financing models for construction... This delegation recently visited successful 2003 toll sites in Texas.. The 90- to 100-mile Baton Rouge Loop project, as proposed, would take eight to 10 years to build. Proponents say the loop is needed to reduce congestion on Interstates 10 and 12 through East Baton Rouge and adjacent parishes, while opening potential new areas to economic and residential development..
“No Roads, Slow Roads or Toll Roads” explains the BR Loop’s “innovative financing” plan to bring the loop fruition. See www.brloop.com for more detail and updates on the changes to the path of the new toll road in Baton Rouge. Financing and delivery plan for project construction developed concurrently with Tier 2 phase. Financing complete, construction starts early 2012. Below are considered routes, final route decision comes July 9th 2010. A current map of potential or eliminated corridors along with Long Point Plantation Estates close proximity is as follows:
