What is a short sale? is a questions I get often these days. Not that we have that many short sales around Lafayette, LA, but there are some.

In short, a short sale is when the lender holding the mortgage/note on the property agrees to sell it for less than what is owed on it. Why? Because in most cases, it allows the lender to avoid foreclosing on the property and losing even more money.

From a buyer perspective, buying a short sale property is not that much different from buying a regular listing except perhaps that it usually is not short, i.e. it takes time. The bank does not own the property but it does need to approve of the short sale. Getting a short sale approved and closed can take anywhere from 40 to 90 days, or more. I worked one last year that took over 6 months.

If you are on the market to buy a home and you are looking at a home listed as a short sale, prepare to be patient and do your homework. A short sale does not necessarily mean that you are getting a “great deal” on a home. In some cases, the owners owe more on the home than what it’s worth so you end up paying market value. In other cases, you may pay less than market value but the home needs work and the repairs can quickly add up.

Whatever you do, approach short sales and foreclosures with caution, do your due diligence, and hire a good real estate professional to help you navigate the process.

If you would like to receive a list of foreclosures and short sales in the Lafayette, LA area, contact me today!

Originally Posted at: Lafayette Real Estate News

Farmers have started to cut canes in our fields in and around Lafayette. If you are going to be on the roads, especially country roads, please use extra caution for the next few weeks.

Sugarcane trucks tend to move slowly so be careful when passing them. It has been very dry here for the past few days so dust is flying and it may reduce visibility. Not to mention that once we do get some rain, the roads will be slippery. The sugarcane industry is good for our economy so be considerate of those who make it happen!

Also, if you are traveling on Vermilion Parkway (Hwy 167) south of Maurice, they have started to resurface the road and one lane may be closed on each side. Traffic is still flowing well, just not as fast as usual.

If you are looking for land to farm cane or other crops, give me a call or send me an email. There are great properties available in the area.

Originally Posted at: Lafayette Real Estate News

It is that time of year again: Festivals Acadiens & Creoles starts today in Lafayette, LA and it looks like the weather will be perfect!

So head on down to Girard Park tonight. Music starts at 5:15 with Geno Delafosse and Christine Balfa, followed by Hert LeBlanc with Bruce Daigrepont and closing with Joel Sonnier with Michael Doucet.

There will be music, food, crafts all weekend in the park. For a full schedule visit the official website of Festivals Acadiens & Créoles here. For information en français, click here.

Originally Posted at: Lafayette Real Estate News

I live in Maurice, LA so one thing I constantly pay attention to is our real estate market. In the past few months, there has been a tremendous amount of construction going on in and around Maurice and new homes sales are up.

New home being built in Victoria Manor, Maurice, LA

Victoria Manor is the subdivision that is the closest to the village of Maurice, located off of Beau Rd between W. Etienne and Hwy 699. In the past 3 months alone, they have sold 8 homes and there are 14 currently under contract. There is one home still available in Victoria Manor: 3 bedrooms, 2 baths, 1593 square feet, for $146,700.

On-going construction in Kirkland Estates, Maurice, LA

On the other side of Maurice, off of Kirk Rd, you will find Kirkland Estates where DSLD is also building new homes (same builder as Victoria Manor). There is one available home on Kirkland Blvd: 3 beds, 2 baths, 1710 square feet, for $154,900 (not pictured above).

New home in Taylor Estates, a private subdivision in Maurice, LA

Those who are looking in a higher price range should take a look at the new homes being built in Taylor Estates. The one pictured above is available right now for $249,800. It features 4 beds, 3 baths, 1966 square feet, granite counter tops, stainless steel appliances, and on a large lot (1/2 acre).

Taylor estates, a gated subdivision, is located off of Hwy 699, next to La Premiere subdivision. The builder here is Garlon Homes.

New home in Chateau Vermilion Subdivision near Abbeville featuring Maurice Schools

And for those who would like to be closer to Abbeville and want the Maurice School District, there is Chateau Vermilion subdivision located off of Hwy 167 (Johnston Street). This is well north of Hwy 14, not a flood zone and less than 6 minutes from Maurice. The home above is ready for its new owner and features 3 beds, 2 baths, 1490 square feet, stained concrete floors, a huge master bath and a 1/2 acre lot. The price is $151,400.

All of these homes qualify for Rural Development financing (100%) and the builders are offering closing costs assistance. For more information about any of those or other available homes in/near Maurice, contact me.

Originally Posted at: Lafayette Real Estate News

I mean there literally is a safe on the street in Abbeville, LA. Well, not exactly on the street… it is on the sidewalk.

I’m not sure what the meaning of it is or if it is even being used but for some reason, I had never noticed it before. It sits on N. State St. in front of Comeaux Café, which is across the street from the Sheriff’s department and the Abbeville Court House. I was there for a few minutes this week to pick up a plat at the Clerk of Court’s office and I just happened to park right next to the safe.

P.S. The plat I was picking up was for one of my listings that went under contract in 9 days. If you are thinking about selling your home, contact me today!

Originally Posted at: Lafayette Real Estate News