ArkLaTex real estate sales bucking national trend

The grass is growing, the flowers are blooming and the houses are selling. It's the busiest time of the year for buyi...

Posted: May 3, 2018 3:14 PM
Updated: May 3, 2018 3:14 PM

The grass is growing, the flowers are blooming and the houses are selling. It's the busiest time of the year for buying and selling houses around the country.

"The home buying market is so brutal, some buyers are making offers sight unseen."

You might have seen a headline like this about the national real estate market. National trends don't always translate locally so KTBS talked to some experts about what's happening in our real estate market this spring.

"There are more sales in the $50,000 to $200,000 price range than we've seen in this market in the last 10 years. The activity has really picked up in the first time home buyer price range. Some of those are investors, but what we're also seeing is that the criteria to get a loan has relaxed in the last few years," said Brad Gosslee," owner/broker Coldwell Banker Gosslee.

"You are able to qualify for a home at a lower credit score than you could 4 or 5 years ago. So that certainly helps home sales as well," said Jeff Free, associate broker with Coldwell Banker Gosslee.

So Shreveport-Bossier City has a healthy real estate market, but definitely not the kind of situations you see in some of those national headlines with multiple offers and all cash deals. If there's one area in particular seeing the lion's share of growth around here, there's really no debate on where that is.

"Bossier is booming. This is the place to live. You've got, you've got location, you've got restaurants, you've got shopping ... everything is centrally located and you've got some of the best schools locally that are in this area," said Rebecca Stevens, an associate broker with Coldwell Banker Gosslee.

"Obviously, if you're local you hear and see and feel the great things happening in Bossier City. But those that are relocating into our area also do a lot of homework and research and I think they see that Bossier is a great place to live. They study the schools and they study the crime rates," said Free.

"When you actually look at the $200,000 to $300,000 price point there are more homes selling in that price range in Bossier Parish than there are in Caddo Parish. And actually I went back and did a little research, that has been the case now for 6 years in a row," said Gosslee.

And there's still twice as much population in Caddo Parish.

"And in a lot of cases, I'd say most cases it's the school system that they're looking for when they're choosing Bossier over Caddo," said Gosslee.

He also says that in 2017 for the first time there were more buyers in Bossier than in Caddo in the $300,000 to $400,000 dollar range.

Many of those buyers, especially in the upper price ranges are using the web, virtual reality and 3D tours to find there new houses. According to Forbes, 95 percent of buyers use the internet to look for homes and 51 percent buy homes that they have found using the internet.

"As much as possible the industry is trying to allow a buyer to view a home in a virtual setting as much as possible. Even some of the things that we're doing now with our storybooks, trying to get video that have sound and some other things to better feel of what it's even like to stand in the front yard of a property with the wind blowing and the birds chirping," said Gosslee.

"I'm having more and more of my clients call me and say these are the houses I want to see. I'm not having to search houses in the amount I used to do when I got in the business 16 years ago," said Stevens.

If you're getting ready to sell your home this season and hoping to make a fortune, prepare to lose lots of cash in the process. A study from Zillow, a real estate website, showed that the average homeowner spends over $18,000 in additional costs associated with selling a home.

This includes closing costs, transfer taxes and the biggest cut usually coming from commissions for real estate agents. Other expenses you can expect to see at closing, including filing fees and the cost of title insurance.

When comparing real estate sales from last year to this year to see how the ArkLaTex is doing in terms of sales for Bossier and Caddo, the experts say the market is ahead of where it was in 2017 for homes in that $50,000 to $200,000 category. But it's holding steady with just about the same numbers for the higher priced homes being sold in our area.

Indiana Coronavirus Cases

(Widget updates once daily at 8 p.m. ET)

Confirmed Cases: 34211

Reported Deaths: 2125
CountyConfirmedDeaths
Marion9761576
Lake3573186
Allen160069
Cass15877
St. Joseph126634
Elkhart126228
Hendricks116671
Hamilton115493
Johnson1097108
Madison58659
Porter53428
Bartholomew50834
Clark49741
LaPorte43023
Howard40428
Tippecanoe3933
Delaware38536
Jackson3821
Shelby37122
Hancock33127
Floyd31839
Boone31635
Morgan27824
Vanderburgh2662
Montgomery23817
White2338
Noble22821
Clinton2271
Decatur22431
Grant21022
Dubois1993
Harrison19422
Henry17211
Greene16924
Vigo1688
Dearborn16821
Monroe16712
Warrick16628
Lawrence15924
Miami1401
Putnam1367
Jennings1304
Kosciusko1271
Orange12622
Scott1193
Franklin1108
Ripley1086
Marshall1021
Carroll932
Daviess8516
Steuben832
Wayne785
Fayette777
Newton7710
Wabash772
LaGrange762
Jasper661
Washington521
Clay511
Jay500
Fulton491
Randolph473
Rush462
Pulaski460
Jefferson451
Whitley413
Starke393
DeKalb371
Sullivan351
Owen341
Brown331
Perry320
Wells310
Benton300
Knox280
Huntington272
Tipton251
Blackford252
Crawford240
Fountain212
Switzerland200
Spencer201
Parke170
Adams171
Posey160
Gibson152
Ohio130
Warren121
Martin110
Vermillion100
Union90
Pike60
Unassigned0167

Illinois Coronavirus Cases

(Widget updates once daily at 7 p.m. CT)

Confirmed Cases: 118917

Reported Deaths: 5330
CountyConfirmedDeaths
Cook771193603
Lake8238288
DuPage7620368
Kane6259176
Will5510273
Winnebago220955
McHenry153972
St. Clair112180
Kankakee90045
Kendall77819
Rock Island65124
Champaign6277
Madison57259
Boone44117
DeKalb3994
Sangamon34829
Jackson28210
Randolph2694
Peoria2218
McLean21813
Ogle2033
Stephenson2012
Macon19419
Clinton18617
Union15510
LaSalle15013
Whiteside13912
Iroquois1314
Coles12615
Out of IL1181
Warren1150
Jefferson10116
Grundy982
Knox980
Monroe9511
McDonough8711
Lee811
Unassigned800
Cass730
Tazewell725
Henry690
Williamson661
Pulaski560
Marion500
Jasper457
Macoupin452
Adams441
Perry420
Montgomery391
Vermilion391
Morgan361
Christian354
Livingston342
Jo Daviess320
Douglas270
Fayette203
Ford201
Jersey201
Menard200
Woodford192
Mason180
Washington180
Hancock170
Mercer170
Carroll162
Shelby161
Bureau151
Schuyler130
Bond121
Franklin120
Clark110
Crawford110
Fulton110
Moultrie110
Piatt110
Brown100
Cumberland100
Logan100
Wayne91
Alexander80
Henderson80
Johnson80
Effingham71
Massac70
Saline70
Greene50
Marshall50
De Witt40
Lawrence40
Richland30
Stark30
Clay20
Edwards20
Gallatin20
Hamilton20
Wabash20
White20
Calhoun10
Edgar10
Hardin10
Pike10
Pope10
Putnam10
Terre Haute
Clear
65° wxIcon
Hi: 74° Lo: 50°
Feels Like: 65°
Robinson
Clear
66° wxIcon
Hi: 73° Lo: 50°
Feels Like: 66°
Indianapolis
Clear
63° wxIcon
Hi: 71° Lo: 47°
Feels Like: 63°
Rockville
Clear
62° wxIcon
Hi: 72° Lo: 50°
Feels Like: 62°
Casey
Clear
65° wxIcon
Hi: 74° Lo: 52°
Feels Like: 65°
Brazil
Clear
65° wxIcon
Hi: 73° Lo: 50°
Feels Like: 65°
Marshall
Clear
65° wxIcon
Hi: 73° Lo: 50°
Feels Like: 65°
A great Sunday on tap!
WTHI Planner
WTHI Temps
WTHI Radar

WTHI Events