The real estate market of the Saint Streets area in Lafayette is hot and moving again, especially in the lower price ranges. There are currently 11 homes under contract,  8 of which were priced under 175K. Since the beginning of the year, 24 homes have sold in the Saint Streets with an average price of $171,000 ($100/sqft).

There is also lots of competition among buyers right now. The last small cottage that was listed this week went under contract the same day, with 4 or 5 buyers waiting in line if the first contract falls through. I represent one of these buyers.

So, this is a plea to all of you Saint Streets home owners who are thinking about moving. My buyer client is ready, willing, and able, cash in hand, and looking for a 2 bedrooms/1 bath cottage, with central air and heat, and not needing many repairs of updates. If you want to sell such a home or know of someone who does, please email me or call me today (337-523-1220) for a painless, quick close on your home.

I have several other buyers on the sidelines also waiting for their perfect saint streets home. Contact me today if you want to sell your Saint Street home and let’s make a deal!

Originally Posted at: Lafayette Real Estate News

When the sign “For Sale To be Moved” went up in front of this house, I had to have it. I’ve been driving by this little cottage for 14 years every single day as it is on my way home. In fact, I can see the house from my porch in the winter time across the field (when trees are not as full). So last month, we bought the house, bought a piece of land to move the house onto and today is the day. If all goes well, and mother nature cooperates, we will be moving this house to its new home a couple of miles down the road.

There are always houses on piers like this for sale to be moved in our area and a few house moving companies to choose from. People sell homes to be moved for different reasons. Sometimes it’s because the family wants to keep the property but not the home after inheriting it (as is the case with our little cottage). Other times, people build on the same property and then sell the first home. Occasionally, the house is free, yes FREE, to whomever wants to haul it away. When the price is right, it can be a great opportunity for investors and home buyers alike.

Moving a house is not cheap and the price is based on the size of the home and the distance to be traveled. Ideally, you want the property to be within 10 miles of the house. The closer the better. If you already own property, you’ll want to find a house for sale to be moved nearby. If you own the house or find the house first, you’ll want to look for available properties around the location of the house.

Larger homes often represent a larger challenge because the house sometimes needs to be cut in half or the roof has to be removed and then rebuilt on the new site. When the house needs to be cut or the roof has to be removed, an independent contractor also needs to get involved which raises the cost.

Between my husband and I, this will be our 5th house moving and likely not the last. I’ll write more about this topic later as I have to go meet our movers at the site.

Today is the day we are moving our house!

Originally Posted at: Lafayette Real Estate News

We just listed 106 Grand Prairie Dr. in Lafayette and this home will WOW you the moment you walk in the door! It features 3 bedrooms, 2 full baths, + a large office or playroom, and tons of updates.

Here are some of the updates/features you’ll find in this move-in-ready home: fresh paint inside and out, new light fixtures, new floors (in living, baths, halls, office, and laundry), new counter tops and back splash in kitchen, landscaped, rear yard access (double gates), double carport, plenty of storage,
and more…

The owners invested and made this one move-in-ready for you so you don’t have to. Call me or email me for your private showing today!

Originally Posted at: Lafayette Real Estate News

We will be having an open house this Sunday (June 17th) from 10am to noon at 232 Antigua in Lafayette. This home features 3 bedrooms, 2 baths, remodeled kitchen and updated baths, large deck and shop (the shop has a wrap around porch) and a mother-in-law suite or apartment with separate entrance.

There are several updates in this house worth mentioning. The kitchen was redone a couple of years ago with cypress cabinets, slab granite counter tops, and stainless steel appliances. The house has double insulated windows and there is no carpet, only ceramic tiles and wood laminate flooring. The mother-in-law suite or guest house has been remodeled this spring with a brand new A/C unit, new carpet, new light fixtures and sink, and it is freshly painted.

For more information about 232 Antigua in Lafayette, visit my web site.

If you are around Sunday to come take a look, you won’t regret it. If you can’t make it Sunday, contact me and we’ll arrange for a private showing. This one is worth you time!

Originally Posted at: Lafayette Real Estate News

As the post-commencement rumble quiets, finances take center stage as many parents and students look at fall college expenses and budget for the inevitable. Continuing education is by no means cheap these days. While housing costs quadrupled at their peak, college tuition skyrocketed tenfold from 1980 to 2010. But there are ways to cut costs. For instance, ordering used books online can save you hundreds. Surfing sites like Craigslist.com for used furniture can help cut up front living expenses.

But, what if we told you there’s a way to save thousands? What if you could take one of the largest college expenses and turn it into a financial gain? Instead of paying for a dorm or renting an apartment, savvy college-bound students and their parents are choosing to invest in real estate with a buy-and-hold strategy.

According to the CollegeBoard statistics, average room and board at a four-year public school is about $7,000 per year and for a private school it’s close to $9,000 per year. That’s roughly $28,000 to $36,000 just to put a roof over Junior’s head and some food on the table. And what’s your financial return? Nada. Zilch. Nothing. Zero.

On the other hand, that $28,000 to $36,000 could go a long way as the down payment on an investment property for Junior and friends to live in. And the returns will be more than financial.

Three Reasons to Invest in Your Child’s College Housing
1. Cut Your College Costs: We see three options when it comes to your child’s living situation at school: 1. dorm or apartment, 2. single-family home or 3. duplex.

We’ve already agreed option one leaves you out at least $28,000 over four years. But, in a hypothetical analysis using our HOLD Property Analysis Worksheet, option two could generate an extra $2,300 cash flow come your student’s next graduation, not to mention nearly $32,000 in appreciation. And option three offers a cash return of almost $6,000 with appreciation of about $40,000. Of course you’ll want to run your own numbers based on your local price points and today’s mortgage interest rates, which are much more favorable than the 30-year average used.

This is a hypothetical analysis based on a 30-year median single-family home price of $170,000 and a duplex price of $210,000. It also uses a 20-year median interest rate of 6.94% and a historical appreciation rate of 4.4%.

Our colleague Danny Thompson bought a duplex for $190,000 just a year ago for his two college-age daughters. The girls live in one side, while a young couple in graduate school occupy the other. The property’s monthly mortgage payment is $1,218, and the couple in side two pay $1,050 a month. That leaves the sisters only paying $168 a month! And, if Danny wanted to convert his savings to earnings, he could charge one of the girl’s friends to live in the spare third bedroom and cash flow immediately. Not to mention in year one the property’s fair market value has increased $20,000 to $210,000.

2. Write It Off: If some spending money and a four-year financial return between $3,660 and $8,133 doesn’t quite do it for you, remember the investment can also be a valuable tax write-off on several fronts. Landlords are given several opportunities to write off investment property expenses. Some of these include mortgage interest, some insurance premiums, property taxes, property depreciation, property management costs, settlement costs in year one and maintenance and repairs.

3. Continuing Education Times Two: What if at the end of four years your child already had a great line of credit, knew how to maintain a household and understood how to build wealth through real estate along with an academic degree? Going through the HOLD journey with your student could be the most rewarding reason of any to invest in your child’s college housing. Not only will you save thousands, but you will also instill life lessons that most of us never learned in college.

Of course one of the biggest advantages to investing in your child’s college housing is when it’s all over, you still have an asset. So even though you can opt to sell once the chick has flown the coup, you can also keep the investment and continue to cash flow it while other students pay down your mortgage and build your wealth. And why not stay on the wealth-building journey that you started four years ago? And, if you’re really feeling gracious, what better graduation present could you imagine?