Monthly Archives: December 2012

FHA Extends Waiver of their Anti-Flipping Rule until 2014!

Great news: FHA has extended the waiver for their anti-flipping rule until the end of 2014 mainly in an effort to help stabilize real estate prices in areas most affected with foreclosures.

FHA extends waiver for anti-flipping rule

In 2003, FHA instituted the 90-day rule to prevent sales where the seller did minimal to no improvement to a property and resold it within 90 days at a much higher price. The extension of the waiver means that buyers will continue to be able to purchase properties with an FHA-insured loan, even if the seller has not held the title for 90 days or more. And they’ve extended the waiver until the end of 2014!

There are conditions, however:

  • All transactions must be arms-length, with no identity of interest between the buyer and seller or other parties participating in the sales transaction. Lenders are required to ensure that the seller actually holds title to the property and there should be no “pattern” of previous flips of the property during the 12 months preceding the transaction.
  • In cases in which the sales price of the property is 20 percent or more above the seller’s acquisition cost, the Waiver will only apply if the lender meets specific conditions and documents the justification for the increase in value.
  • Inspections are required of all the key components of the building structure and systems when price jumps exceed 20 percent.

This is indeed good news for both buyers of flips and investors who work on flips. For more information, read this article on InmanNews. If you are an investor looking for good “flips,” contact me today and I’ll help you find the right property. If you are just starting to consider flipping properties, the book “Flip” is the first one I would get.

Housewarming Jam for Louisiana Folk Roots

If you haven’t heard, Louisiana Folk Roots is moving to the grounds of Vermilionville in the historic Begnaud House. This Saturday, December 15th, they are having a Superjam des Amis with hosts Michael Doucet, Mitch Reed, Sheryl Cormier, Henry Hample and lots of other great players on the pondside back porch and grounds of their new home. Musicians and listeners, all are welcome!

The historic Begnaud house in Vermilionville is now home to Louisiana Folk Roots

Image from Louisiana Folk Roots

The Superjam des Amis will take place between 1 and 3:30 Saturday in conjunction with Vermilionville’s Old Time Christmas Family Celebration which is from 10am to 4pm so don’t hesitate to go early and stay late!

Saturday is also the deadline to sign up for the Dewey Balfa Cajun and Creole Heritage Week in beautiful Chicot State Park, and still receive their early-bird discount. The event will take place April 19-26, 2013.

For more information, visit Louisiana Folk Roots online and visit with them this Saturday at 340 Fisher road in Lafayette (the historic Begnaud House in Vermilionville).

New Homes for Sale in River Ranch, Lafayette, LA

If you’ve walked or driven by River Ranch neighborhood in Lafayette recently, you’ve probably noticed quite a bit of new construction activity. For the past couple of years, activity in River Ranch was on the slow side. This year, however, home sales are up almost 24% in Lafayette parish and builders are once again busy, including in River Ranch.

New construction is booming in River Ranch

If you’ve been thinking about moving to River Ranch and you want a new home, now is a great time to do it. Interest rates are still low and it won’t be long until our most famous neighborhood runs out of space to expand.

There are currently 22 homes available in River Ranch and several condominiums. Detached homes prices range from $321,640 for a 2/2 cottage with 1496 sqft to $1,375,000 for a beautiful two-story home with 5 bedrooms, 4.5 baths and over 4000 sqft. Most of the homes currently available are priced between 400K and 800K.

Click here to view all the homes for sale in River Ranch. This link is updated daily so come back often and if you are looking for a home in River Ranch that is not listed here, contact me today and I will hunt it down for you!

This Weekend In and Around Lafayette

I don’t know about you but I love parties that have purposes and there is one in Lafayette tonight.

Louisiana Folk Roots to benefit for Pint night 2012The fine folks at Pack & Paddle, OluKai Footwear, Freetown Fries, The Green Room and Bayou Teche Brewing are throwing a great party called Pint Night and proceeds from all sales will benefit Louisiana Folk Roots!

Come on down to Pack & Paddle at 601 E. Pinhook Road in Lafayette from 6 to 9 tonight (Dec 7th). There will be live music by Caleb Elliott, Sam Broussard & Callie Smith. Admission is free and the first 200 to arrive will receive a complimentary souvenir pint glass while the first 70 to arrive will also receive a wrapped mystery gift. Beers are $5 each. Visit Pint Night on Facebook here. Allons!The Oil Center's 19th edition of the Festival of Lights in Lafayette

Also tonight is the Festival of Lights in the Oil Center in Lafayette from 5 to 10pm. This is the 19th edition of the event and there will be music, photos with Santa, Food from local restaurants, and lots more!

Another interesting event this coming week is CCET’s backyard Series. On Tuesday, December 11th, make your way down to Vermilionville’s Cooking School for a special presentation on the Evolution of Cajun and Creole Cooking. Chef Pat Mould and Dr. Barry Jean Ancelet will be leading an entertaining evening of cooking and storytelling, and will share their recipes and secrets to creating a creole turtle bisque, just in time for you to learn and share with your friends and families during the holidays. The event starts at 6:30 and admission is free. Visit CCET on Facebook.

CCET event Dec 11, 2012

Only 18 days till Christmas! So much to do, so little time!

Monthly Archives: December 2012

FHA Extends Waiver of their Anti-Flipping Rule until 2014!

Great news: FHA has extended the waiver for their anti-flipping rule until the end of 2014 mainly in an effort to help stabilize real estate prices in areas most affected with foreclosures.

FHA extends waiver for anti-flipping rule

In 2003, FHA instituted the 90-day rule to prevent sales where the seller did minimal to no improvement to a property and resold it within 90 days at a much higher price. The extension of the waiver means that buyers will continue to be able to purchase properties with an FHA-insured loan, even if the seller has not held the title for 90 days or more. And they’ve extended the waiver until the end of 2014!

There are conditions, however:

  • All transactions must be arms-length, with no identity of interest between the buyer and seller or other parties participating in the sales transaction. Lenders are required to ensure that the seller actually holds title to the property and there should be no “pattern” of previous flips of the property during the 12 months preceding the transaction.
  • In cases in which the sales price of the property is 20 percent or more above the seller’s acquisition cost, the Waiver will only apply if the lender meets specific conditions and documents the justification for the increase in value.
  • Inspections are required of all the key components of the building structure and systems when price jumps exceed 20 percent.

This is indeed good news for both buyers of flips and investors who work on flips. For more information, read this article on InmanNews. If you are an investor looking for good “flips,” contact me today and I’ll help you find the right property. If you are just starting to consider flipping properties, the book “Flip” is the first one I would get.

Housewarming Jam for Louisiana Folk Roots

If you haven’t heard, Louisiana Folk Roots is moving to the grounds of Vermilionville in the historic Begnaud House. This Saturday, December 15th, they are having a Superjam des Amis with hosts Michael Doucet, Mitch Reed, Sheryl Cormier, Henry Hample and lots of other great players on the pondside back porch and grounds of their new home. Musicians and listeners, all are welcome!

The historic Begnaud house in Vermilionville is now home to Louisiana Folk Roots

Image from Louisiana Folk Roots

The Superjam des Amis will take place between 1 and 3:30 Saturday in conjunction with Vermilionville’s Old Time Christmas Family Celebration which is from 10am to 4pm so don’t hesitate to go early and stay late!

Saturday is also the deadline to sign up for the Dewey Balfa Cajun and Creole Heritage Week in beautiful Chicot State Park, and still receive their early-bird discount. The event will take place April 19-26, 2013.

For more information, visit Louisiana Folk Roots online and visit with them this Saturday at 340 Fisher road in Lafayette (the historic Begnaud House in Vermilionville).

New Homes for Sale in River Ranch, Lafayette, LA

If you’ve walked or driven by River Ranch neighborhood in Lafayette recently, you’ve probably noticed quite a bit of new construction activity. For the past couple of years, activity in River Ranch was on the slow side. This year, however, home sales are up almost 24% in Lafayette parish and builders are once again busy, including in River Ranch.

New construction is booming in River Ranch

If you’ve been thinking about moving to River Ranch and you want a new home, now is a great time to do it. Interest rates are still low and it won’t be long until our most famous neighborhood runs out of space to expand.

There are currently 22 homes available in River Ranch and several condominiums. Detached homes prices range from $321,640 for a 2/2 cottage with 1496 sqft to $1,375,000 for a beautiful two-story home with 5 bedrooms, 4.5 baths and over 4000 sqft. Most of the homes currently available are priced between 400K and 800K.

Click here to view all the homes for sale in River Ranch. This link is updated daily so come back often and if you are looking for a home in River Ranch that is not listed here, contact me today and I will hunt it down for you!

This Weekend In and Around Lafayette

I don’t know about you but I love parties that have purposes and there is one in Lafayette tonight.

Louisiana Folk Roots to benefit for Pint night 2012The fine folks at Pack & Paddle, OluKai Footwear, Freetown Fries, The Green Room and Bayou Teche Brewing are throwing a great party called Pint Night and proceeds from all sales will benefit Louisiana Folk Roots!

Come on down to Pack & Paddle at 601 E. Pinhook Road in Lafayette from 6 to 9 tonight (Dec 7th). There will be live music by Caleb Elliott, Sam Broussard & Callie Smith. Admission is free and the first 200 to arrive will receive a complimentary souvenir pint glass while the first 70 to arrive will also receive a wrapped mystery gift. Beers are $5 each. Visit Pint Night on Facebook here. Allons!The Oil Center's 19th edition of the Festival of Lights in Lafayette

Also tonight is the Festival of Lights in the Oil Center in Lafayette from 5 to 10pm. This is the 19th edition of the event and there will be music, photos with Santa, Food from local restaurants, and lots more!

Another interesting event this coming week is CCET’s backyard Series. On Tuesday, December 11th, make your way down to Vermilionville’s Cooking School for a special presentation on the Evolution of Cajun and Creole Cooking. Chef Pat Mould and Dr. Barry Jean Ancelet will be leading an entertaining evening of cooking and storytelling, and will share their recipes and secrets to creating a creole turtle bisque, just in time for you to learn and share with your friends and families during the holidays. The event starts at 6:30 and admission is free. Visit CCET on Facebook.

CCET event Dec 11, 2012

Only 18 days till Christmas! So much to do, so little time!