Tara Subdivision (Baton Rouge, Hammond, Jefferson: real estate market, apartments, renting)

[laleh]

Any thoughts? I am worried that there is a public high school there that might attract the wrong sort of people. Is it going the way of Sherwood Forest and Broadmoor or is a smart place to buy?

[BRMan]

Originally Posted by laleh

Any thoughts? I am worried that there is a public high school there that might attract the wrong sort of people. Is it going the way of Sherwood Forest and Broadmoor or is a smart place to buy?

As much as I like the houses in Tara (esp the part between Old Hammond, Tara, and Chevelle), I see it as a neighborhood that has peaked. Additionally, it doesn't help that Womans will eventually relocate, which means the buffer between Goodwood and Florida will be no longer. This also means all those doctors offices that were located near Womans will likely relocate as well.

At least on the positive side (unlike Sherwood Forest), Tara isn't surrounded by nasty apartments on three sides.

[laleh]

Thank you for your honesty. If you had 225k or so to spend in Baton Rouge- and not far out, must be a quick enough drive to downtown- where would you buy? I want a good investment.

Where are the good investment neighborhoods? Thank you so much.

Can you please comment on mid-city, southdowns and hundred oaks? any thoughts?

[MetroBTR]

I live only a few streets down from Tara (towards town center and Jefferson) and Tara subdivision has peaked. It's still a decent neighborhood, though. If I knew I was planning to stay for 10+ years I might be a little leery. If you are just looking for a starter home with elbow room, you should give it a fair shot. There's a good school (St. Luke's) right there on Goodwood, and they are also revamping Hammond Aire (the shopping center on the corner of Old Hammond and Airline). My guess is that they are trying to keep customers due to the huge competition presented by the new Town Center nearby. Also nearby is Independence Park.

Like I said, it would be a good place for a starter home, but the long-term is little uncertain.

[laleh]

thank you! honestly, i can spend more and don't need a starter home per se, but i think that the upper end real estate market in baton rouge is going to get crushed. so i am looking for a cheaper home as the mortgage would be less than renting a house anyway.

so where do you recommend for a long term investment?

southdowns? what about some of the cheaper stuff off of highland?

[BRMan]

Originally Posted by laleh

Thank you for your honesty. If you had 225k or so to spend in Baton Rouge- and not far out, must be a quick enough drive to downtown- where would you buy? I want a good investment.

Where are the good investment neighborhoods? Thank you so much.

Can you please comment on mid-city, southdowns and hundred oaks? any thoughts?

Mid City - depends on your definition, but if you're talking about the area between Government and Florida, I wouldn't bother

Southdowns - VERY overrated and overpriced. But it is well positioned relative to downtown

Hundred Oaks - pricey, historic, and well-kept, but the neighborhood reverts to a 3rd world country after a hurricane because its tree canopy guarantees lengthy power outages (remember the person after Gustav who put up the handpainted "40 oaks" sign at one of the neighborhood entrances ?)

I'll now tell you my faves if you have 225K to spend:

(1) Concord Estates - though majority black, the houses are huge, and it's in the middle of town, with forests surrounding it on two sides

(2) Jefferson Terrace - as Bluebonnet becomes the new Florida Blvd, this neighborhood is well situated and has fixer upper opportunities

(3) Westminster - this neighborhood is limited access but has great access to I-12 and Jefferson

(4) Mirabeau Gardens - smaller homes that have been kept up and are close to LSU and downtown

(5) Kenilworth - an underrated gem of a neighborhood that is well situated relative to the medical corridor, downtown, and LSU.

For both Kenilworth and Mirabeau Gardens, future road expansions (extending Seyburn to Burbank, extending Staring to Burbank, connecting the two pieces of Picardy, I-10 widening, Perkins widening) will give this neighborhood better traffic options.

[BRMan]

Originally Posted by MetroBTR

they are also revamping Hammond Aire (the shopping center on the corner of Old Hammond and Airline). My guess is that they are trying to keep customers due to the huge competition presented by the new Town Center nearby. Also nearby is Independence Park.

Are you optimistic about Hammond Aire ? I remember when it was nice and new back in the 80s (for a brief period of time, I recall that it was called the Galleria) and it was anchored by one of the first Home Depots in town. But over the years, I've seen the place (like many on Airline between Florida and I-12) go downhill.

[laleh]

thank you so much for all of your help brman. i am going to really investigate those neighborhoods you mentioned.

do you think that i am right about the upper end housing market being out of control? i just can't bring myself to spend crazy money in baton rouge right now.

[BRMan]

Originally Posted by laleh

thank you so much for all of your help brman. i am going to really investigate those neighborhoods you mentioned.

do you think that i am right about the upper end housing market being out of control? i just can't bring myself to spend crazy money in baton rouge right now.

I do. The developers went crazy after Katrina (the GO ZONE bonds, IMO, created some of this speculation) and built only high end stuff, like the 330K condos near LSU that overlook slummy duplexes. This behavior was totally foolish and unrealistic, because (1) there's only so many rich people to go around, (2) there's the remaining 90% of the income spectrum that still needs TLC, (4) it's not like there were Fortune 500 companies that were moving here and bringing high paying executive jobs to town, and (5) people are only going to afford so much mortgage.

So I see a glut of high end homes and 4 story apartments coming around the corner. It reminds me of the 80s all over again.

[laleh]

Originally Posted by BRMan

I do. The developers went crazy after Katrina (the GO ZONE bonds, IMO, created some of this speculation) and built only high end stuff, like the 330K condos near LSU that overlook slummy duplexes. This behavior was totally foolish and unrealistic, because (1) there's only so many rich people to go around, (2) there's the remaining 90% of the income spectrum that still needs TLC, (4) it's not like there were Fortune 500 companies that were moving here and bringing high paying executive jobs to town, and (5) people are only going to afford so much mortgage.

So I see a glut of high end homes and 4 story apartments coming around the corner. It reminds me of the 80s all over again.

these high end homes are just sitting there...... when are they going to admit to themselves that they messed up and should cut their losses and sell it to me for cheap?