Monthly Archives: July 2012

Loft Style Living in Lafayette: The Warehouse District Lofts

If you live around Lafayette, you’ve likely notice the Warehouse District Lofts on South College road. They are hard to miss with their tall, colorful metal structures and orange garage doors and they are in the heart of the city near Lafayette General Hospital, the Oil Center, Girard Park, ULL campus, and about 5 minutes from Lafayette’s airport.

Lofts style living in lafayette, LA

The lofts sure stand out in the Lafayette landscape with their sleek modern lines. I can’t think of any other homes for sale that look and feel this way around here. And this is certainly low maintenance at its best for the busy lives most of us lead. Inside, they offer all the amenities of modern living on three levels with the master bedroom being on the third floor and the main living area on the second floor.

Living room of Warehouse District loft in Lafayette, la

As I write this, there are no units in the Warehouse District Lofts readily available for purchase. However, they have poured the slab of the next three units and there is a model home that I can show you. One of the advantages of buying a home while it is still being built is that there is still time to choose amenities such as flooring, counters, and colors. By making an offer early in the process, you can truly make it yours and just move right in when it is ready.

Prices for the lofts are in the $260,000 range for 2 bedrooms, 2baths, and around 2000 square feet. Contact me if you want to schedule a visit.

Selling your Home should Begin with Staging

If you are thinking about selling your home, you should seriously consider hiring a stager. As a Realtor, I have a stager on my team of experts that I work with. Why? Stagers are trained to make your home look its best for potential buyers whether it’s only by moving some furniture around and painting a couple of rooms, or remodeling at a low cost so that you maximize your profit. It will also likely reduce the amount of time your home will be on the market, thereby saving you even more money.

Kitchen at 106 Grand Prairie before renovations

This was the kitchen/breakfast area at 106 Grand Prairie in Lafayette the first time I saw it. Bright orange counter tops, dark cabinets, a combination of wall paper and brown paneling on the walls and hanging cabinets separating the kitchen from the living area. It screamed 1970s.

Before picture of breakfast area at 106 Grand Prairie in Lafayette, LA

There is not much in these pictures that is appealing to today’s buyers because the majority of them want a move-in ready home and most of the time, “clean” and “well maintained” simply doesn’t cut it. Below is what the same kitchen looks like after the owner followed our stager’s recommendations.

106 Grand Prairie kitchen after staging and renovations

The cabinets that were removed from above the counter tops were recycled in the breakfast area.

remodeled kitchen area at 106 Grand Prairie in Lafayette

The total cost of this kitchen renovation was about $5,000 and included moving the cabinets around, new counter tops and back splash, new light fixtures, fresh paint on the walls, cabinets, and cabinet hardware, and the labor to get it all done. Staging is not about spending a ton of money, it is about maximizing the return .

106 Grand Prairie in Lafayette is currently available and will likely not stay on the market much longer. This home features 3 bedrooms, 2 baths, plus a large office or bonus room, 1822 square feet of living area, double carport and a nice size backyard. And aside from the newly remodeled kitchen, this home also has new flooring in the living, hall, office, baths, and laundry, new light fixtures everywhere, fresh paint inside and out, landscaping, and the list goes on. Our stager’s team went through this home room by room, and inch by inch, to make it ready for you. The best part is the price: only $155,000!

Contact me today to make your appointment to view this home or visit this link for more details and pictures of 106 Grand Prairie in Lafayette.

If you are considering selling your home and think that my team and I may be on to something with this staging business, I’d love to tell you more about it.

Want a Home in River Ranch for Less than 300K?

If you’ve been dreaming about owning a home in River Ranch but have a budget under 300K, you will want to read this. And if you’ve read my latest article about home prices in Lafayette, you’ll quickly realize that it may also be your last chance to get into River Ranch at such a low price. You see, I found a builder who will build a home in River Ranch for less than 300K for one of my clients, and he is willing to do it for you, too!

Homes for sale in River Ranch, Lafayette, LA

If you have a budget under 300K and you want to live in River Ranch, your only option up to now was a condo. The cheapest home currently available in our MLS in River Ranch is 375K for 2 bedrooms, 2 baths, and 1615 square feet and I know of a For Sale by Owner asking 332K for close to 1500 square feet (also 2bd/2ba). Yes, homes are expensive in River Ranch with an average of nearly $217 per square foot for the currently available homes.

Of course, you can look at homes in other neighborhoods, but if you want to live in River Ranch, you already know that nothing will compare to River Ranch!  Here’s the home my client will get in River Ranch for less than 300K:

  • 1400 to 1500 square feet cottage with double garage
  • 2 bedrooms, 2 baths
  • Granite slab counter tops in the kitchen
  • Wood floor in kitchen, living, and master bedroom
  • Large patio
  • And more

If you would like to explore this unique opportunity for yourself or someone you know, contact me today for I can assure you that this offer will not last. Of course, if you want to build a larger, more expensive home in River Ranch or elsewhere, we’ll be happy to assist as well.

Cheers!

 

 

Lafayette, Louisiana Home Prices Rising: 10 years in review

With all the never-ending news about the housing bubble, the record number of foreclosures, and the fall of home prices on a national scale, I can’t count the number of times that I’ve had to explain to my clients that none of this applies here in Lafayette, Louisiana. Real estate is a very local thing and Lafayette has been a different kind of place in the past few years when it comes to housing and housing prices.

If we look at home prices on a national scale since the 1970s, the bubble is obvious. Home prices almost doubled in a 7-year span between 2000 and 2007. Why some thought this would last is beyond me and beside the point. And while homeowners who bought at the wrong time in the wrong area may never recover the loss in the value of their home or investment, it’s easy to see that home prices have already recovered. Home values are now where they would have been had the housing market just followed its natural pace. This is what makes people say that we have hit bottom and that the tide is about to turn.

Graph showing trend in homes prices in the US

 Now look at the graph I found for Lafayette. There is hardly a bubble in this line.

Lafayette's home prices have been stable since the 1990s

From http://www.forecast-chart.com/estate-real-lafayette-la.html

Here is a closer look at the last 10 years for the city of Lafayette and Lafayette parish. The yellow line shows what home values would have been every year with a 4% appreciation starting in 2002.

home prices in lafayette, la last 10 years with 4% appreciation

Truth is, we did have a little bubble in Lafayette and there was an strong increase in home prices between 2004 and 2007. However, in August 2005, Katrina struck New Orleans and thousands of people relocated here wanting to purchase homes. I like to call it our “justified” real estate boom and as we can see on the above graph, home prices did not get out of hand.

Housing prices are based on supply and demand. When supply is low, as was the case in Lafayette after Katrina, prices do naturally go up. In 2007, housing demand returned to normal in Lafayette and home prices went flat as the market adjusted to its new supply and demand reality. And while the average price of a home in Lafayette did drop slightly in 2008 and 2009, here too, home prices seems to have recovered and be where they would have been without Katrina and a 4% appreciation every year.

Graph of home prices in Lafayette, LA last 10 years

Home Prices in Thousands of $

The good news is that if you purchased a home in Lafayette at the height of the market in 2007, it is pretty much worth the same today, and not 40-50% less (or more) as seen in other areas.

The bad news is that if you purchased a home in Lafayette at the height of the market in 2007, it is pretty much worth the same today. You can forget about the 4% per year appreciation, at least up to now.

What is surprising perhaps is that even with the influx of people after Katrina, unemployment remained low in our area. When people are working, they pay their mortgages and as a result, the percentage of foreclosures on the market in our area has remained in the low single digits (currently at 3% in Lafayette). Low foreclosure rate = real estate prices stability. It is, I think, safe to say that our prices didn’t fall much simply because they hadn’t risen uncontrollably due to speculation in the first place.

If you are thinking about buying a home or moving up in Lafayette or Acadiana, there may never be a better time to do so. Interest rates are still historically low (with nowhere to go but up), affordability is still at an all time high, and home prices have begun to rise. Contact me today to start your search!

Monthly Archives: July 2012

Loft Style Living in Lafayette: The Warehouse District Lofts

If you live around Lafayette, you’ve likely notice the Warehouse District Lofts on South College road. They are hard to miss with their tall, colorful metal structures and orange garage doors and they are in the heart of the city near Lafayette General Hospital, the Oil Center, Girard Park, ULL campus, and about 5 minutes from Lafayette’s airport.

Lofts style living in lafayette, LA

The lofts sure stand out in the Lafayette landscape with their sleek modern lines. I can’t think of any other homes for sale that look and feel this way around here. And this is certainly low maintenance at its best for the busy lives most of us lead. Inside, they offer all the amenities of modern living on three levels with the master bedroom being on the third floor and the main living area on the second floor.

Living room of Warehouse District loft in Lafayette, la

As I write this, there are no units in the Warehouse District Lofts readily available for purchase. However, they have poured the slab of the next three units and there is a model home that I can show you. One of the advantages of buying a home while it is still being built is that there is still time to choose amenities such as flooring, counters, and colors. By making an offer early in the process, you can truly make it yours and just move right in when it is ready.

Prices for the lofts are in the $260,000 range for 2 bedrooms, 2baths, and around 2000 square feet. Contact me if you want to schedule a visit.

Selling your Home should Begin with Staging

If you are thinking about selling your home, you should seriously consider hiring a stager. As a Realtor, I have a stager on my team of experts that I work with. Why? Stagers are trained to make your home look its best for potential buyers whether it’s only by moving some furniture around and painting a couple of rooms, or remodeling at a low cost so that you maximize your profit. It will also likely reduce the amount of time your home will be on the market, thereby saving you even more money.

Kitchen at 106 Grand Prairie before renovations

This was the kitchen/breakfast area at 106 Grand Prairie in Lafayette the first time I saw it. Bright orange counter tops, dark cabinets, a combination of wall paper and brown paneling on the walls and hanging cabinets separating the kitchen from the living area. It screamed 1970s.

Before picture of breakfast area at 106 Grand Prairie in Lafayette, LA

There is not much in these pictures that is appealing to today’s buyers because the majority of them want a move-in ready home and most of the time, “clean” and “well maintained” simply doesn’t cut it. Below is what the same kitchen looks like after the owner followed our stager’s recommendations.

106 Grand Prairie kitchen after staging and renovations

The cabinets that were removed from above the counter tops were recycled in the breakfast area.

remodeled kitchen area at 106 Grand Prairie in Lafayette

The total cost of this kitchen renovation was about $5,000 and included moving the cabinets around, new counter tops and back splash, new light fixtures, fresh paint on the walls, cabinets, and cabinet hardware, and the labor to get it all done. Staging is not about spending a ton of money, it is about maximizing the return .

106 Grand Prairie in Lafayette is currently available and will likely not stay on the market much longer. This home features 3 bedrooms, 2 baths, plus a large office or bonus room, 1822 square feet of living area, double carport and a nice size backyard. And aside from the newly remodeled kitchen, this home also has new flooring in the living, hall, office, baths, and laundry, new light fixtures everywhere, fresh paint inside and out, landscaping, and the list goes on. Our stager’s team went through this home room by room, and inch by inch, to make it ready for you. The best part is the price: only $155,000!

Contact me today to make your appointment to view this home or visit this link for more details and pictures of 106 Grand Prairie in Lafayette.

If you are considering selling your home and think that my team and I may be on to something with this staging business, I’d love to tell you more about it.

Want a Home in River Ranch for Less than 300K?

If you’ve been dreaming about owning a home in River Ranch but have a budget under 300K, you will want to read this. And if you’ve read my latest article about home prices in Lafayette, you’ll quickly realize that it may also be your last chance to get into River Ranch at such a low price. You see, I found a builder who will build a home in River Ranch for less than 300K for one of my clients, and he is willing to do it for you, too!

Homes for sale in River Ranch, Lafayette, LA

If you have a budget under 300K and you want to live in River Ranch, your only option up to now was a condo. The cheapest home currently available in our MLS in River Ranch is 375K for 2 bedrooms, 2 baths, and 1615 square feet and I know of a For Sale by Owner asking 332K for close to 1500 square feet (also 2bd/2ba). Yes, homes are expensive in River Ranch with an average of nearly $217 per square foot for the currently available homes.

Of course, you can look at homes in other neighborhoods, but if you want to live in River Ranch, you already know that nothing will compare to River Ranch!  Here’s the home my client will get in River Ranch for less than 300K:

  • 1400 to 1500 square feet cottage with double garage
  • 2 bedrooms, 2 baths
  • Granite slab counter tops in the kitchen
  • Wood floor in kitchen, living, and master bedroom
  • Large patio
  • And more

If you would like to explore this unique opportunity for yourself or someone you know, contact me today for I can assure you that this offer will not last. Of course, if you want to build a larger, more expensive home in River Ranch or elsewhere, we’ll be happy to assist as well.

Cheers!

 

 

Lafayette, Louisiana Home Prices Rising: 10 years in review

With all the never-ending news about the housing bubble, the record number of foreclosures, and the fall of home prices on a national scale, I can’t count the number of times that I’ve had to explain to my clients that none of this applies here in Lafayette, Louisiana. Real estate is a very local thing and Lafayette has been a different kind of place in the past few years when it comes to housing and housing prices.

If we look at home prices on a national scale since the 1970s, the bubble is obvious. Home prices almost doubled in a 7-year span between 2000 and 2007. Why some thought this would last is beyond me and beside the point. And while homeowners who bought at the wrong time in the wrong area may never recover the loss in the value of their home or investment, it’s easy to see that home prices have already recovered. Home values are now where they would have been had the housing market just followed its natural pace. This is what makes people say that we have hit bottom and that the tide is about to turn.

Graph showing trend in homes prices in the US

 Now look at the graph I found for Lafayette. There is hardly a bubble in this line.

Lafayette's home prices have been stable since the 1990s

From http://www.forecast-chart.com/estate-real-lafayette-la.html

Here is a closer look at the last 10 years for the city of Lafayette and Lafayette parish. The yellow line shows what home values would have been every year with a 4% appreciation starting in 2002.

home prices in lafayette, la last 10 years with 4% appreciation

Truth is, we did have a little bubble in Lafayette and there was an strong increase in home prices between 2004 and 2007. However, in August 2005, Katrina struck New Orleans and thousands of people relocated here wanting to purchase homes. I like to call it our “justified” real estate boom and as we can see on the above graph, home prices did not get out of hand.

Housing prices are based on supply and demand. When supply is low, as was the case in Lafayette after Katrina, prices do naturally go up. In 2007, housing demand returned to normal in Lafayette and home prices went flat as the market adjusted to its new supply and demand reality. And while the average price of a home in Lafayette did drop slightly in 2008 and 2009, here too, home prices seems to have recovered and be where they would have been without Katrina and a 4% appreciation every year.

Graph of home prices in Lafayette, LA last 10 years

Home Prices in Thousands of $

The good news is that if you purchased a home in Lafayette at the height of the market in 2007, it is pretty much worth the same today, and not 40-50% less (or more) as seen in other areas.

The bad news is that if you purchased a home in Lafayette at the height of the market in 2007, it is pretty much worth the same today. You can forget about the 4% per year appreciation, at least up to now.

What is surprising perhaps is that even with the influx of people after Katrina, unemployment remained low in our area. When people are working, they pay their mortgages and as a result, the percentage of foreclosures on the market in our area has remained in the low single digits (currently at 3% in Lafayette). Low foreclosure rate = real estate prices stability. It is, I think, safe to say that our prices didn’t fall much simply because they hadn’t risen uncontrollably due to speculation in the first place.

If you are thinking about buying a home or moving up in Lafayette or Acadiana, there may never be a better time to do so. Interest rates are still historically low (with nowhere to go but up), affordability is still at an all time high, and home prices have begun to rise. Contact me today to start your search!