According to the local MLS statistics, the foreclosure rate in Lafayette, LA and Acadiana remains low so far for 2009.
Of the 1147 homes currently on the market in Lafayette parish, only 13 are listed as REOs (real estate owned) or approximately 1% while in Acadiana, a total of 50 properties are listed as REOs of the 2088 homes that are on the market (about 2%).
The average price for an REO in Lafayette parish is 118K ($70/sqft) while it is 76K in all of Acadiana ($46/sqft).
Of course, because of their lower prices, REOs tend to sell faster. In Acadiana, of the 2274 homes that sold so far in 2009, 205 were listed as REOs (9%). In lafayette parish, 75 or the 1599 sold homes in 2009 were REOs (or 4.6%).
If you are a buyer or investor interested in REOs, email me and I will send you an updated list of available properties in Lafayette parish and Acadiana.
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