Baton Rouge is one of the few areas in the country where values are still increasing and competition for housing is still high.  This is a trend that is expected to continue through 2007 and 2008.  The local housing market has seen an increase in value of 12.7% in the last quarter of 2006 over the same period the year before.  This particular stat has added significance when you take in to account in the "Katrina Factor" of the last quarter of 2005.  The median home price in the Capital Region was $173,400 the last three months of 2006. 

Where does that leave you as a buyer?  The answer is simple...as long as you, the buyer, are educated on the market and your buyer's agent is honest with you on the best strategy to employ when writing a contract it is still a great time to buy a home.

One of the biggest obstacles that I face with my buyers is their own belief that they MUST make an "offer" so that the seller can counter them back.  Most feel that if they offer full price or something close to that right off the bat,they will be leaving money on the table and may miss out on a deal or even worse be taken advantage of.  I understand this thought process and in a different market I agree.  However, this is a not that market. 

 Before writing (or even showing) a home I research the price and location of EACH AND EVERY property.  If the home is overpriced, my buyers and I are aware of it from the start and will adjust our strategy as needed.  However, if the house is priced right and is in a good location I am going to strongly advise them to make an offer that is reasonable and in line with the market.  The last thing I want for my buyers is a multiple offer situation(which is very common here) or worse case scenario to be out bid on the house right off the bat.

The most important piece of the puzzle in negotiation, or any facet of the real estate transaction is knowledge.  If you chose a buyer's agent that is well versed in the local market and is experienced enough to tell you the TRUTH about our market then it is still a wonderful time to buy a home!!!!