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Baton Rouge, Louisiana: Slow Southern Buyer's Market

First spotted by a French expedition in 1699, the area that was to become Baton Rouge, Louisiana was an Indian hunting ground, where a red maypole (hence the name Baton Rouge) was stuck in the ground to separate the lands between Indian nations. The city was incorporated in 1817, where it remains the one of the nation's busiest ports, and second largest in the state only to New Orleans.

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Home to Louisiana State University and Southern University, Baton Rouge is also the seat of government for the state. It has been the state capitol since 1882.

"Current market conditions indicate a buyer's market with interest rates remaining stable," says Realtor Wynona Squires. "No major changes expected in the next few months. Pricing trends on real estate in the Baton Rouge area have not changed greatly and match the national average."

Suggests Realtor Brandy Farris, "It's a great area with wonderful schools.

"Since the beginning of the 2002 year my business has picked up tremendously," she adds. "The interest rates are great, so buyers are looking."

Realtor Marlene Grose says, "The outlook is good with interest rates low and the Baton Rouge job count is up. According to MLS figures, the average house sold for just over 96% of sales price and the average time on the market was less than 90 days."

She advises, "Houses in good condition and priced right continue to sell very close to list price and in a shorter time."

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Published: July 9, 2002

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Mortgage Rates
30 Year Fixed: 3.83%
15 Year Fixed: 3.05%
1 Year Adj: 2.73%
(U.S. Weekly Averages)

Today's Headlines 07/09/2002


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