Grand Pointe Subdivision in Lafayette, LA is seeing lots of new home construction this spring. There are 19 single family homes for sale in Grand Pointe currently starting around $175,000 for 1266 sqft and up to $368,000 for 2233 sqft. Of the 19 homes on the market, 17 are listed as being “under construction” or “new.” Six townhomes priced between 268K and 313K are also for sale.

The cottage above is for sale as of this writing for $235,000. It features 3 beds/2baths and 1624Sqft. Truly a precious home, inside and out. Grand Pointe features cottage style homes and more traditional French homes. The average price per sqft in Grand Pointe is around $150. Since the beginning of the year, 16 homes have sold and 6 are currently pending.

Located off of Kaliste Saloom, near the intersection of E. Broussard, Grand Pointe is close to everything Lafayette has to offer.   In addition, the neighborhood features river front properties and others on a beautiful pond. Grand Pointe also features a club house and a saline pool for the residents to enjoy.

Think this may be the neighborhood for you? Feel free to browse homes and properties for sale in Grand Pointe here and don’t hesitate to contact me if I can assist you.

Originally Posted at: Lafayette Real Estate News

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