Real estate recap: New B.R. Galatoire's groundbreaking Wednesday … Uncle O's moving into former Brewbacher's on Sherwood … EBR flood maps go into effect June 19

From the Baton Rouge Business Report:

Fire it up: A groundbreaking celebration for the new Galatoire's Bistro location, at the corner of Perkins Road and Acadian Thruway, will take place at 11 a.m. Wednesday. Guests will get a sneak peek of the new restaurant, enjoy samples of Galatoire's signature cuisine and hear from speakers including Galatoire's lead investor John Georges, Commercial Properties Realty Trust executives and Mayor Kip Holden. The restaurant, scheduled to open in December, will include a bar, private dining space and an outdoor dining area.

Down the road: Local lunch spot Uncle O's Café Gumbo and Seafood is set to move from its familiar location near the corner of South Harrell's Ferry and Millerville roads and into a space at 3410 S. Sherwood Forest Blvd., formerly home to Brewbacher's Grill, owner Ouncy Borne says. With hopes of having the new location open by July, Borne says he decided to relocate to avoid traffic congestion and construction in the area, which he says was affecting sales. "Eventually I just got fed up and decided it was time to go," he says. Borne intends to serve alcohol in addition to his usual south Louisiana fare at the new location, but does not expect to extend operations past "regular restaurant hours." Before closing in November 2010, Brewbacher's had operated at the South Sherwood site for 18 years.

Are you ready? East Baton Rouge Parish homeowners, business owners and renters who do not have flood insurance are being encouraged to buy coverage before new flood insurance rate maps go into effect June 19, in order to get the best possible premiums. You can see the new flood map here. Kyle Jones, chief of staff for the Mayor's Office of Homeland Security and Emergency Preparedness, says flooding can sometimes occur outside the mapped floodplain. So, while many residents are required by mortgage and lending companies to carry flood insurance, Jones encourages all residents to purchase flood insurance, as the floodplain is ever changing. Learn more at the city-parish's Red Stick Ready website here.

Tax credits to help save Spanish Town houses

From the Baton Rouge Business Report
State historic tax credits will allow for the restoration of five houses considered to be contributing elements to the historic Spanish Town neighborhood. Developer Lance Bennett says he paid about $100,000 each for the houses—three on North Seventh Street, and two along South Capitol Drive—and expects to spend about $50,000 gutting and renovating each one. The sale closed last week. State historic tax credits will make the numbers on the deal feasible, says Bennett, who will get back from the state's incentive program about 45 cents for every $1 he spends renovating the houses. "You really couldn't do this project without them," says Bennett. "I've done many projects in Spanish Town, and this is what makes them all work." Richard Preis, who sold the houses to Bennett, owns other rental houses and a 47,000-square-foot vacant lot on the block. Preis says the sale to Bennett represents an "olive branch" to Spanish Town residents who opposed Preis' plans in 2009 to sell other houses on the block to developer David Slaughter, who planned to tear the houses down and build an apartment building. "Lance is going to put substantial money in these structures immediately, which will be a wonderful deal for Spanish Town," says Preis. Adds Bennett: "Thank God we'll be able to save them." —Stephanie Riegel

Real estate recap: Zachary builder and Slaughter manufacturer honored by SBA and LED … Author and historical home preservationist to speak, sign books in B.R. … Realtors can learn about 'bond deals' via webinar Friday

From the Baton Rouge Business Report

Top honors: Zachary-based Living Solutions Construction, founded by Merrick Young, was the Capital Region District Winner at the 2012 Louisiana Small Business Award Ceremony, held at the Governor's Mansion last week. Anvil Attachments, based in Slaughter and led by Jon Craft, received a Louisiana Economic Development Entrepreneur Award for small manufacturers. The companies are among 20 award winners honored by the U.S. Small Business Administration and LED. For the full list of winners, click here.

All about a house: Ron Tanner, author and preservationist, will be the featured speaker at a Preservation Salon lecture and book signing held at the Old Governor's Mansion tonight. Tanner will speak about the hair-raising tales of his and his wife's adventures to restore a ruined Victorian landmark and former frat house in Baltimore. He will also sign copies of his book, From Animal House to Our House: A Love Story following the presentation. The event is free to Foundation for Historical Louisiana members and $10 for guests. A reception hosted by Calandro's Fine Wine and Cellars will be held at 6 p.m., with the presentation to begin at 6:30 p.m.

Pre-lunch lesson: With the Louisiana Housing Corp. serving up a number of opportunities for realtors and prospective homeowners through bond programs targeting low- and moderate-income Louisiana families, Louisiana Realtors is hosting a free webinar for members on Friday, during which LHC representatives will explain these "bond deals." Those participating will learn where the money comes from, current Louisiana program offerings, rates, qualifications, and the role the realtor plays in the transaction process. The webinar is from 10 to 11 a.m. Space is limited, but you can reserve a spot here.

Homes for sale in the 70806 area code

Call The Houk Group at 225-301-7467 for more information or visit timhouk.com for further details.

Do you want to be a Market Insider and find out the scoop?

Understand the difference between “listing prices” (what sellers are asking for) and “sold prices” (what buyers are willing to pay).

By comparing these price trends, you’ll have a good idea of where the Baton Rouge housing market is heading. The median listing and sold property prices are calculated based on the market activity each month.

Review the inventory and health of the market by looking at the number of sold and listed properties.

To understand if the market inventory is growing or shrinking, compare the number of sold properties to new listings. If inventory is growing, the market could be trending toward a buyer’s market. If inventory is shrinking, then it could be a seller’s market.

Gauge the health of the market by comparing the number of standard to distressed listings. If the number of distressed listings is greater, the market could be unhealthy and more likely a buyer’s market.

• Sold: Properties sold that month
• New: Listings that are new on the market
• Distressed: Listings that are short sales, bank owned, or up for auction.
• Standard: Non-distressed listings

2 Baton Rouge public high schools make 'America's Best' list of 1,000

From the Baton Rouge Business Report Of the 1,000 public high schools across the country ranked by The Daily Beast on its "America's Best High Schools 2012" list, seven are located in Louisiana—with just two of them in Baton Rouge. Only one Louisiana school, New Orleans' Benjamin Franklin, cracked the top 100, at No. 76. Baton Rouge Magnet got the best ranking of any Baton Rouge school, at No. 285. The University Laboratory School on the LSU campus is ranked No. 377. One school each in Jefferson, Metairie, Natchitoches and Gretna also made the list. The Daily Beast says, "Our ranking highlights the best 1,000 public high schools in the nation—the ones that have proven to be the most effective in turning out college-ready grads." The list is based on a composite of six components provided by school administrators on graduation rate, college matriculation rate, AP/IB/AICE tests taken per student, average SAT/ACT scores, average AP/IB/AICE scores and AP courses offered. Check out the complete list here.

Home sales in Baton Rouge up 21% in April

From the Baton Rouge Business Report With 616 sales recorded as of this morning, 20.8% more homes were sold in April across the eight-parish region tracked by the Greater Baton Rouge Association of Realtors compared to the same month a year ago, GBRAR reports. Last April, a total of 510 home sales were recorded. East Baton Rouge, Ascension, Livingston and the five other parishes lumped into GBRAR's "other" statistical category—West Baton Rouge, Iberville, East Feliciana, West Feliciana and Pointe Coupee parishes—all posted year-over-year sales increases. The average sales price, however, continued a downward year-over-year trend in April, decreasing about 4.3% to $188,441, compared to $196,877 in April 2011. Nonetheless, the increase in overall sales pushed total volume up 15.5% to $409.9 million on the month. A strong April builds on first-quarter figures in 2012 that were the best since 2008. Year-to-date, total sales now stand at 2,213, up 18.2% over the 1,873 sales recorded through April last year. For historical comparison, 2,128 homes were sold through April in 2010, while 2,003 were sold over the four-month period in 2009 and 2,535 in the same period of 2008. You can check out the complete sales report from GBRAR here.

Find the value of your Baton Rouge home TODAY!

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Thinking about selling? Not sure of the value of your home or what other homes in the area are selling for? By clicking the link above or visiting buyorsellbatonrougehomes.com you will be able to find out what your home is worth and be able to estimate what it could sell for. Simple as that!

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Baton Rouge home sales are up 21% from the same month a year ago. What does this mean? The good properties are moving and they are moving fast. Don't miss out on an amazing opportunity to buy in a fantastic market!

Baton Rouge Parade of Homes

Baton Rouge Parade of Homes

Visit www.timhouk.com or 225.413.4835 for more details















Baton Rouge Parade of homes is one of Baton Rouges PREMIER real estate events. It will be held this weekend May 5-6th and May 12-13th. This years capital region parade of homes features 55 homes, 43 subdivisions, and 29 amazing builders! Prices range from $165,000 to $800,000. Come see the many features of these homes which include outdoor kitchens, pools, theaters, and more.

There is no admission or ticket charge to view the homes. Saturdays 11-5 and Sundays 1-5. Come out and view some amazing new construction homes!