More good news: A real estate forecasting service says the Capital Region is one of the 10 best cities in terms of future home prices. Local Market Monitor, which produces the Home Price Forecast for more than 300 cities, says home values should remain level locally over the next 12 months. Officials with Local Market Monitor credit the same factors for Baton Rouge's stability that have been repeatedly said during the national housing crisis: Home prices in the Capital Region never got out of hand, and economic growth has remained steady locally. Alexandria, Monroe and Shreveport-Bossier City made the top 10 list for future home prices in cities with populations under 600,000.
Second change in a year: The Red Lion Hotel and Conference Center at South Acadian Thruway and Interstate 10 is switching flags, effective Wednesday. The hotel will now be the Radisson Baton Rouge Hotel and Conference Center. The owners of the hotel, Cajun Lodging, say it was a business decision to switch the brand to the better-known Radisson. The Baton Rouge location was the only Red Lion east of the Rocky Mountains. The hotel previously underwent a two-year renovation that wrapped up in June 2008 to bring it up to Red Lion standards; the main overhaul this time was bringing in new beds and 32-inch flat-screen TVs for the rooms.
B.R. figures slightly down: Baton Rouge-area home prices dropped by 0.54% in April when compared with a year ago, but Louisiana reported the third-biggest jump in average state prices. According to First American CoreLogic's Home Price Index, the modest drop in home prices comes after a 4.14% increase in Capital Region home prices that happened in March. Louisiana reported a 3.1% increase. Only West Virginia (5.27%) and New York (3.88%) had more of a monthly improvement.
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