I see many homes every week. It is the nature of my job. Sometimes I see pretty unique stuff, too, and in the least expected places. We discovered this teeny tiny spiral staircase in a closet while doing inspections at a small cottage in Lafayette last week. Fun stuff!

The space is tight for sure and the steps are barely wide enough for two feet side by side. The staircase leads to the attic with two panels opening at the top. In the attic, it looks like there once was a child’s room or playroom that hasn’t been used in years.

Do you have a unique space in your home? I would love to hear about it…

Originally Posted at: Lafayette Real Estate News

Mickey Shunick went missing last Saturday in Lafayette, LA. The whole city is looking for her. 

UPDATE 5/27: Authorities have found Mickey’s bicycle beneath the Whiskey Bay I-10 bridge, at exit 127 in Iberville Parish. Search continues for Mickey and clues that would lead to her.

In the past couple of days, new information about this case came to light and officials are now looking for the owners of 3 vehicles that were in the area where she was last seen. For up to date information, and for a description of the vehicles the police is looking for, you can visit KATC’s “Searching for Michey Shunick” page.

You can also visit the Facebook page: http://www.facebook.com/findmickeynow

Also, we have been told as Realtors to go visit our vacant listings and vacant lands. Every owner of a vacant home or vacant property in the Lafayette area should do the same.

I should have written about this sooner. We never know where the next clue will come from. Please help us find Mickey!

Originally Posted at: Lafayette Real Estate News

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While the percentage of foreclosures on the market has remained stable in Acadiana and went down a little in Lafayette parish, more of them are selling and at a faster rate.

Since the beginning of the year, REO sales account for 18.8% of residential sales in Acadiana and 11.9% in Lafayette parish. When I wrote about the foreclosure market in December, REOs represented 13% of sales in Acadiana and 8% in Lafayette parish.

Foreclosures also sell faster. The average days on the market for foreclosure since January is 72 days while that of the market as a whole is 105 days.

The inventory is stable, though. In Lafayette parish, REOs account for 3.6% of all listings, down from 4% in December . In Acadiana, it is 5.9%, down from 6%.

To receive active foreclosure listings via email, simply Fill out my form!

Originally Posted at: Lafayette Real Estate News

I have been writing about the sharp rise in pending home sales in Lafayette, LA and Acadiana since the beginning of the year and our inventory not being able to catch up. If this trend continues, it could signal the beginning of a shift in our area and the end of the “buyers’ market.”

In “Shift,” Gary Keller writes, “Shifts are easy to understand. They occur whenever supply and demand move out of balance. When seller supply exceeds buyer demand, it’s a buyers’ market. When buyer demand exceeds seller supply, it’s a sellers’ market. A shift occurs when the market moves from one to the other.”

In real estate, supply and demand are measured in months of inventory and there are three types of markets:

• Buyer’s Market: More than 7 months of inventory
• Balanced Market: between 5 and 7  months of inventory
• Sellers’ Market: Less than 5 months of inventory

In April, months of inventory in Lafayette parish dropped below 5 for the first time in two years to 4.54 months. This means that if no other home is listed, it would take 4 and half months for the current inventory to sell. This is also a dip into a “Sellers’ Market.” In Acadiana as a whole, months of inventory is down to 6.14, the lowest in nearly three years, making it a “Balanced Market.”

Whether the trend will continue remains to be seen. In the springs of 2009 and 2010, months of inventory dropped for 90 days but then went back up. What I think is different this time is the sharp rise in pending sales we are seeing at the same time. No one I’ve talked to remembers seeing so many home sales pending since Katrina.

It is still a great time to buy, however, we may be seeing the end of the buyers’ market in our area, at least for a little while.

Have questions, comments? Drop me a line. I would love to hear from you!

Originally Posted at: Lafayette Real Estate News

This home at 232 Antigua in Lafayette, LA is truly a rare find in the middle of the city! The home features 3 bedrooms, 2 baths, a den, updated kitchen, laminate wood floors and tiles throughout, newly updated master bath, new windows, and more.

The kitchen was totally updated 2 years ago with cypress cabinets, thick granite counter tops and stainless steel appliances.

What makes this property somewhat special though is the 600 square feet, newly renovated guest apartment or mother-in-law suite with new AC/heat, new flooring, new fixtures, etc., and the large workshop with wrap-around porch (pictured below)! It is not very often that we see this combination in town.

For more information about 232 Antigua, please visit my web site or contact me today!

Originally Posted at: Lafayette Real Estate News