While the country may be experiencing economic downturns and housing market chaos, you may be surprised to find that Baton Rouge, Louisiana is actually a stronghold of economic fortune and real estate success. During the first of part of 2009, the city's mayor Kip Holden, proudly flaunted the city's impressive statistics during his State of the City address. |
"At a time when our nation's unemployment is at a record high at an all time low and every developed country in the world dealing with this global financial crisis our economy here in Baton Rouge is receiving national recognition for progress and prosperity", Mayor Holden said. "And we are fortunate that I can stand before you today and assure you that the economy of East Baton Rouge Parish is strong".
He went on to list all the factor that indicated "that signal something special is happening in Baton Rouge". He recalled that Business Week Magazine has named this city as one of the ten best cities to weather the storms of the current recession and that Money Magazine gave the city the appellation of one of the ten hottest real estate markets in the country.
That statement was confirmed by independent real estate market forecaster Housing Predictor in a recent report. Employment continues to be strong, new businesses and companies continue to invest in the city and there is great promise of growth and prosperity.
Another sign of the strength of the real estate market in this city is that even luxury homes have continued to sell well in the past year. According to reports from local real estate agents and the Baton Rouge real estate multiple listing service sales of luxury homes were particularly strong during the last summer, even as the stock market began its descent.
Mayor Holden hinted at one reason real estate in Baton Rouge may be so appealing to many even at this point is the city's drop in crime. According to a recent report by the FBI, Baton Rouge has seen a 10 percent reduction in major crime in recent years, giving it the city's lowest crime rate in ten years.
With the city's recent increase in population, this is quite an accomplishment. Home buyers feel safe in the many nice neighborhoods of Baton Rouge knowing that crime is down and being aggressively fought by the city officials.
As for the city's other statistics, the greater Baton Rouge area houses roughly 800,000 people while the city itself if home to somewhere between 300,000 and 400,000. The 2008 Cost of Living Index gave Baton Rouge a score of 87.8, lower than the national average of 100. That means that it is a very affordable place to live compared with most cities around the country.
An added plus about the Baton Rouge real estate is that even though the national median home price began a nose dive last year in response to foreclosures, short sales, and sidelined buyers, the Louisiana city's median home price bucked the trend and continued to rise, reaching its current peak of almost $200,000.
For interested buyers, Baton Rouge is a city full of great real estate opportunities and excellent values. It offers homeowners great neighborhoods, great schools, and a bustling, growing city atmosphere.
Baton Rouge Louisiana real estate agents can help you work out current real estate values, taxes, utility costs, municipal services and facilities, and will be aware of factors that could affect your decision to buy property. Visit www.realestatelouisiana.com to locate a suitable realtor.
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