How long the real estate shift is expected to last
BATON ROUGE - About four months ago, real estate experts told News Two the amount of apartment complexes being built around the Baton Rouge area was going to create an imbalanced market.
Following recent floods, many apartment complexes in the area are operating at maximum capacity.
Wesley Moore with Cooke, Moore and Associates says if you're looking for an apartment, there's little to choose from.
"It will be difficult for the next few months to find anything local," said Moore.
A similar situation happened eleven years ago after Katrina. The Baton Rouge area went from a 92 percent occupancy to a 99 percent occupancy essentially overnight.
Creekside Crossing Apartments in Walker opened August first. It has 48 units open now and a long waiting list for the rest of the 168 units opening.
"As of this afternoon we have a little over 130 people on our waiting list," said John Buzzell of Barring Point Properties.
Buzzell says most people on the waiting list are flood victims.
"We never pictured leasing up in this fashion," he said.
Experts say for now, available units won't last long but it's no telling how long this renters spike will last.
"Will they stay full six months, twelve months from now," said Moore.
It hinges on how quickly people rebuild.
If you're in the market, beware of sticker shock and report price gouging to the Attorney General's office.
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