The year 2012 was a great year in real estate in Acadiana and Lafayette. Overall, home sales were up 17.34% in Acadiana over 2011. The first table below represents the number of sale for each month in Acadiana and in Lafayette parish.

This second table shows the number of homes sold in Lafayette parish in 2012 compared with 2011.

The numbers were also up in volume. Our prices have been very stable here over the past few years and we even saw a slight increase in prices in certain area for the first time in 3 or 4 years.

I just looked at the number of sales so far in January and they are rocking! Needless to say that we are off to a great start!

As of today, there are 674 home sales pending in Acadiana and 470 in Lafayette parish alone. Last year in January, we had 525 sales pending in Acadiana and 355 in Lafayette parish.

There are currently 2028 homes for sale in Acadiana and 1089 available homes in Lafayette parish. This is low, even lower than it was last year in January. If you’ve been thinking about selling your home, now is the time to list as inventory will increase in the next couple of months and there will be more competition. Contact me today if I can help you buy or sell in 2013.

Originally Posted at: Lafayette Real Estate News

As the sun rises on a new year, I want to wish every one of you a wonderful 2013 filled with health, love, success!

I apoligize for not writing those wishes sooner and I know it’s been quiet here for the past couple of weeks. I’m sorry. One of my resolution for this year is to write more and so I started doing research and writing in December and that, coupled with being really busy with real estate and working on finishing the renovations in an investment property, has triggered an old injury to come back in my neck and shoulder. As much as it pains me not to write right now, it pains more to simply think about sitting down and typing.

Nevertheless, I look forward to 2013 for several reasons and I hope you do, too. I will be back soon with numbers in review for 2012 and lots of other great stuff, too.

I’m working with several buyers right now as it is still a great time to buy. However, some of them cannot find what they are looking for. If you are thinking about selling, let me know. I might just have a buyer for your home!

Originally Posted at: Lafayette Real Estate News

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.

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.

Originally Posted at: Lafayette Real Estate News

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.

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!

Originally Posted at: Lafayette Real Estate News

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

The 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!

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.

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

Originally Posted at: Lafayette Real Estate News