Louisiana Real Estate 101

Tips for finding the best real estate agent

Before hiring an attorney, a contractor and even a mortgage broker, homebuyers and sellers need to find the right real estate agent, according to a recent FOXBusiness report. “Transactions are becoming more and more difficult to get together,” says Dan Kruse, a real estate agent with Century 21. “There’s a need more than ever for good representation for both buyers and sellers in this marketplace.” Real estate experts advise interviewing at least three agents before settling on [...]

Louisiana home sales up almost 12% in 3Q

Seven of Louisiana’s eight metro areas saw home sales rise in the three-month period that ended Sept. 30, and the state as a whole experienced an 11.6% sales jump in the third quarter, compared to the same period last year. That’s according to a new quarterly report out from the Louisiana Realtors Association. The Lafayette metro area saw the greatest rise in home sales during the third quarter, with sales rising 16.9% (year-to-date sales [...]

Are you buying a meth house?

A home that’s contaminated because of methamphetamine production or use may show few visible signs of the risks it poses.

As the highly addictive drug methamphetamine grows in popularity, so does the chance you could end up buying a “meth house” when you go shopping for real estate.

Making or even smoking meth leaves behind a stew of chemicals that saturates walls, ceilings, floors and carpets with meth as well as mercury, lead, iodine, [...]

The Only Thing Not Rising In Rental Markets is the Vacancy Rate — And the Future Portends More of the Same

Ted C. Jones, Senior Vice President-Chief Economist, Stewart Title Guaranty Company recently wrote the following post regarding the rental market. It shows that property ownership will continue to be a strong source of income for people who choose to invest in the near future. In it, he shows why rents are going up:

Freddie Mac just released a report analyzing and forecasting the residential rental market through 2015. A combination of declining homeownership rates [...]

Explaining the Cash Sale, Promissory Note and Mortgage at a Lousiana Closing

Prospective real estate buyers tend to think of the “mortgage” as the contract they are signing with the bank. This is misleading. The promissory note is the actual contract to loan and borrow money between lender and borrower. The mortgage is the lender’s instrument, or more accurately, its security interest, to enforce that loan contract. This is an important distinction because, if for example, a Louisiana couple purchases property or refinances, and the loan [...]

Are you moving next door to a sex offender?

So your in the market for a new home or rental property. You crossed all your T’s and dotted all your I’s. But before making that offer…did you remember to protect your family and your piece of mind? By running a check for nearby child molestors and sexual predators?…….. probably not.

What your not told:

In Louisiana, the seller or their agent is under no obligation to disclose such information only give notice of the availability to access to [...]

Agents disclosures of haunted houses and other stigmatized properties

What kinds of disclosures do real estate professionals need to make to customers? How about stigmas such as murders, suicides, or ghosts?

The NATIONAL ASSOCIATION OF REALTORS® defines stigmatized property as: “a property that has been psychologically impacted by an event which occurred, or was suspected to have occurred, on the property, such even being one that has no physical impact of any kind.”

Therefore, when dealing with a stigmatized [...]

Protect your home

These days, homeowners insurance covers less and costs more ….as a recent Consumer Reports survey found out:

Homeowners buy insurance to protect against disaster. But when disaster strikes, your insurer might not live up to your expectations, especially if you have a large claim, according to our survey of 11,250 subscribers who filed claims in the last few years. The greater the damages, the greater the likelihood that home insurers paid less than expected, our survey [...]

What you should know about: Louisiana Purchase Agreements

Here is what the purchase agreement looks like

Now, lets go over it:

The essentials of a purchase contract include:

Property address and legal description. In addition to the street address, there is a legal description of the property, however alot of times this is left blank by the agents due to sheer laziness. In rural areas it is wise to attach a property description addendum that includes boundaries or other landmarks. Names of the [...]

Choosing your real estate agent

Whether you are buying or selling a home…..one of the most important decision you make will be choosing an agent to represent you and your financial interests. A good or bad agent can easily make or break the deal. A sellers agent can be responsible for the home sitting on the market or being sold in the first week depending on how much effort that agent puts into spreading the word about your home. A buyers [...]