Gayle's Blog

"FORECLOSURE RATES ARE RISING"  That's the headline you will likely see. DON'T PANIC!  Louisiana's foreclosure rate is still very low.

Louisiana ranks #39 on the list.  For the first 6 months of 2009, our state had 5,160 foreclosure filings. That converts to 0.28 percent of housing units (one in 360).  States with the highest rates report one in 16 in Nevada and one in 30 in Arizona.

RealtyTrac collects data from every state and most couties or parishes to generate their reports.
From the RealtyTrac Report:
"Nevada, Arizona, Florida post top state foreclosure rates
More than 6 percent of Nevada housing units (one in 16) received at least one foreclosure filing in the first half of 2009, giving it the nation's highest foreclosure rate during the six-month period. A total of 68,708 Nevada properties received a foreclosure filing from January to June, an increase of 23 percent from the previous six months and an increase of 61 percent from the first half of 2008.

Arizona registered the nation's second highest state foreclosure rate in the first half of 2009, with 3.37 percent of its housing units (one in 30) receiving at least one foreclosure filing, and Florida registered the nation's third highest state foreclosure rate, with 3.08 percent of its housing units (one in 33) receiving at least one foreclosure filing.

Other states with foreclosure rates ranking among the nation's 10 highest were California (2.94 percent), Utah (1.46 percent), Georgia (1.42 percent), Michigan (1.34 percent), Illinois (1.31 percent), Idaho (1.26 percent) and Colorado (1.25 percent)."

You can see the whole thing on the web at
http://www.realtytrac.com/ContentManagement/PressRelease.aspx?channelid=9&ItemID=6802

This map shows the hot spots across the USA

We have such an active arts community in northeast Louisiana, and the Rose Theatre in Bastrop is one of the jewels of the Delta! Formerly a movie theatre, the Rose was transformed several years ago to begin a new life. Since then, it has been the site for many plays, most that you would never expect to see in such a small town.

Jekyll and Hyde is the latest musical production to be offered. Opening Friday, it features 25 actors with talented vocalists and surprising special effects.

The story is about Dr. Henry Jekyll, a brilliant young doctor and scientist who embarks upon a quest to isolate the dual elements of good and evil that are constantly struggling for supremacy inside every human being. I'm not sure of his success. :-)

This play is not suitable for young children, but mature audiences will love the songs and sets.  Bastrop is only 20 minutes from Monroe, so don't miss it!

Showtimes: 7 p.m. Friday and Saturday; 7 p.m. July 24 and 25; and Sunday matinees at 2 p.m. July 19 and 26. The box open will be open from 1-4 p.m. Thursday-Saturday through the run of the show.

Gayle Causey
http://GayleCausey.com
Keller Williams Realty, Monroe, LA USA
318-614-5615

This article was in The News Star today. Real estate pros know this already, but it's nice to see experts telling the story!
Gayle Causey, 318-614-5615
Keller Williams Realty, Monroe, LA
http://GayleCausey.com
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Louisiana housing prices up from last year

By Mike Hasten • mhasten@gannett.com • July 12, 2009

BATON ROUGE - Add the price of housing to the list of ways Louisiana is bucking the national economic trend.
The Local Market Monitor, a national real estate market assessment firm, says Louisiana is one of only five states to show an increase in home prices in the past year. With a 3.1 percent gain, only New York (3.88 percent) and West Virginia (5.27 percent) outpaced Louisiana's housing market gains.

The report ranks four Louisiana cities - Shreveport, Monroe, Alexandria and Lake Charles - among the top 10 housing markets with a population of 600,000 or less. Lafayette, however, experienced the worst housing price drop in the state.

The report shows that while the Housing Price Index nationally fell 10.2 percent, Louisiana's overall HPI rose 3.1 percent.

The Lake Charles Metropolitan Statistical Area led the state with a 2.09 percent gain in its HPI for the 12-month period leading up to April 2009, while the Shreveport-Bossier City MSA showed a 2.06 percent increase. Monroe's HPI was 1.82 percent, followed closely by Alexandria with 1.81 percent.

New Orleans did not make the Top 10 ranks among larger housing markets, but it did report a 1.67 percent gain. Baton Rouge recorded a slight drop (-0.54 percent).
Phil Hoffman, president of the Louisiana Home Builders Association, said in an interview that this is another example of how Louisiana is bucking the national economic trend.

"Louisiana's homes have not lost value," he said. "We here in Louisiana are faring so much better than most states. It's not that we're totally isolated. Have we got challenges? Surely, we're facing them every day. But there are good signs for homebuilders."

The combination of a federal stimulus of an $8,000 break for first-time homebuyers and people who haven't owned a home in three years and low interest rates is spurring the comeback, he said.

The federal break is available to single persons who make less than $75,000 and couples making less than $150,000.

"When is the federal government ever going to give you money before they take it?" Hoffman laughs.

One of the things that strengthens the Louisiana market, he said, is "Louisiana never had a high rate of foreclosure."

In his monthly column, the LHBA president said the price comparisons "can fluctuate from month to month, but overall Louisiana continues to be among the nation's more stable housing markets. That's good news for homeowners who have made their homes their biggest investment.

"It's also good news for persons wishing to invest in a new home - you can do so without the fear of losing value on your investment," he said.

Don't miss this cool event this weekend--the Living Garden
Fountain.

When:  Friday, July 10--2 pm, 3 pm, 9 pm and 10 pm and
            Saturday, July 11--10 am, 11 am, noon and 1 pm.

ELsong Garden, 2000 Riverside Drive, Monroe, LA.
Admission free.

Check out this video link. http://www.thelivinggarden.com/thefountain/video.html

After watching the video, I know I won't miss this unique
performance. It looks BEAUTIFUL!

See you there!

Gayle Causey, Realtor
Relocation Director
Keller Williams Realty, Monroe, LA USA
Cell: 318-614-5615
http://GayleCausey.com

What are YOU doing for the holiday? Many people look forward to fireworks on the 4th of July.
Here in Monroe & West Monroe, we always look forward to fireworks over the river
on the evening of the 4th.

It's been so hot lately, and no rain, that the state fire marshall has issued a
ban on outdoor burning of any kind. But, the fireworks at Forsythe over the
Ouachita River will still be going on, and I know they will be beautiful!
The level of the river is still high right now, so the reflections on the water will be very pretty.

If you're planning some fireworks at your own house, please don't. According
to the US Fire Administration, fireworks cause more than 30,000 fires each
year resulting in $34MILLION in property loss. Most fireworks injuries are caused by the little stuff, sparklers and Roman candles. But, 7 people died as a result of fireworks in 2008.

Leave it to the experts!  Come on out to the river at dark on Saturday night and enjoy the show. I know I'll be there!  Don't forget your mosquito repellent.

Oh, by the way. The secretary who makes appointments for agents to show our listings at Keller Williams told me Thursday that she had made more appointments in that one day than she had ever made in the past year. That means buyers are out looking! If you are a buyer, get out there and look, too, before the home you've been wanting is snatched up by someone else. If your home is currently on the market, don't be complacent because it's a holiday. Keep your home in showing condition because that one buyer you need may be coming to your house this weekend!

Have a safe and happy 4th of July, and remember to celebrate this great country!

Call me if you need information about the market, or if you want to start looking for your special home. I'm here to help.

Gayle Causey, 318-614-5615
Keller Williams Realty, Monroe, LA
http://GayleCausey.com
http://WestMonroeRealEstate.com

Did you cross your fingers like I asked?  I didn't think so.  Yesterday's pleas for rain in northeast Louisiana went unanswered. No rain. We were teased with clouds and even the sound of a little thunder, but when it all came down to it, NO RAIN.

So, we're back to the same old weather forecast--lots of heat, lots of sun. No rain.

If your home is on the market at this time, plesae try to keep the grass green. I know it's a chore, but it really makes a difference when buyers are driving by. And, if you happen to be looking for a new home right now, please be understanding of the fact that Mother Nature is not cooperating. Grass may be a little crispy, but it will come back! One day's rain will make everything green again.

Call or email me if I can help you.

Gayle Causey, 318-614-5615
Keller Williams Realty, Monroe
http://GayleCausey.com

There's a COLD FRONT headed for northeast Louisiana--a real cause for celebration! Monday's high is predicted to be 94 degrees, according to The Weather Channel, and the low will be 66. That may sound high to you, but it's a welcome relief to those of us in Monroe and West Monroe who have been in sweltering heat for the entire month of June. We're hoping that this front will bring us a little rain. We haven't seen any raindrops since June 4.

Monroe's total rainfall this year is 21.6 inches, 8+ inches below average. Rain measurements at the Monroe airport found only 0.6 inches for the month of June, far below the average rainfall of 4.2 inches.

According to the Nat'l Weather Service, Sunday's high of 102 degrees tied the record set in 1988.  The record marked the fourth time in seven days that temperatures were above 100 and the third time that the heat matched or set record highs.  I told you it was HOT!!

Even though we've had no rain, the Endom Bridge that spans the Ouachita River between Monroe and West Monroe was recently struck by lightning. The strike cause electrical problems, so the bridge is closed indefinitely. I took the picture to the right in early June to show the unusually high level of the river. The bridge was in its normal position for traffic, but now it is in the open position until repairs are complete.

Looking for a home on the other side of the River? I'll be happy to show you some nice homes that fit your price range and desired location. Call, text or email me today.

Gayle Causey, 318-614-5615
http://GayleCausey.com
Keller Williams Realty, Monroe, LA USA

OK, I realize I've written a lot lately about the good things happening in Monroe, West Monroe, Sterlington and other parts of northeast Louisiana. Today I'm going to be completely honest. The news isn't all good.  Reality: it's HOT here! 

We've seen temperatures flirting with 100 degrees every day for more than a week with no rain during the month of June. Nighttime temps are very high, so there is little relief.  Sprinklers are working all over town, grass is getting crispy, and even the birds look thirsty.

My hat is off to all our friends working at Habitat for Humanity construction projects right now.  By the way, the local newspaper reports that Habitat could sure use some LARGE fans to help with the heat. If you have one that you can donate, please call the Habitat office at 318-323-8003. 

Check out the good being done for good people by Habitat for Humanity of Ouachita at http://www.hfho.org/

Gayle Causey, 318-614-5615
Keller Williams Realty, Monroe, LA
http://GayleCausey.com

Talk to anyone from any other state. The majority are singing the blues about their local economy. Here in northeast Louisiana, we have reason to celebrate! News of large expansions happening in the not-too-distant future makes us excited, but what is already happening BEFORE the new businesses is still good news.

If you're looking for a construction job, Monroe is the place to be. 

Call or text me if I can help you make the move.

Gayle Causey, 318-614-5615
Keller Williams Realty
Monroe, LA USA
http://GayleCausey.com  or http://WestMonroeRealEstate.com

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From The News Star, June 25, 2009 

Monroe's April sales taxes drop; West Monroe has increase

By Greg Hilburn • ghilburn@thenewsstar.com • June 25, 2009

Ouachita Parish sales tax collections dropped slightly in April for the first time this year, but the market economy remains solid in the face of a national recession, an economist said.

Combined collections for all Ouachita taxing jurisdictions fell about 2 percent in April compared with the same month in 2008, but calendar year collections are still showing a gain of more than 4 percent.

"One month isn't an indicator of a trend," said University of Louisiana at Monroe economist Bob Eisenstadt, who analyzes the market's retail sales. "We're still up on the year, and that's contrary to the national economy."

Monroe saw April collections drop 3 percent, but Eisenstadt and Mayor Jamie Mayo said they expect the economy to grow for the city and all parish jurisdictions as major commercial construction projects get under way this year.

The three biggest are the Delta Community College campus, the Monroe Regional Airport terminal and the expansion of the former Guide Corp. facility for production of the new V Vehicle Co. cars.

Delta construction is under way, and ground will be broken for the other two projects this summer.

"There's a large chunk of construction money that's about to land in Ouachita Parish, and that windfall will be followed by permanent jobs," Eisenstadt said.

While most Ouachita jurisdictions showed declines in April, the city of West Monroe posted a strong 9 percent gain. All other municipalities, as well as the hotel-motel tax, posted declines.

By Louis Jones, Kiplinger's Personal Finance May 2009

TEN CITIES WITH RISING HOME VALUES

Think that no real estate market is safe? Believe it or not, there are cities where home values have held their own. Their economies are well diversified, and their population growth has been slow, keeping unemployment low and speculative building to a minimum.

Check out Monroe LA, one of 10 cities that have seen an increase in median home value. Change in median home price is from the fourth quarter 2007 to the fourth quarter of 2008, which is the most recent data from Fiserv Lending Solutions, a home-price research company.

3. MONROE, LOUISIANA

Metro area population: 169,586
Median home price: $125,450
12-month change in home value: +6.3%
Home value vs. national average: -30%
Top employer: St. Francis Medical Center
Unemployment: 6.1%

Midsize manufacturing companies such as Angus Chemical Company and Bancroft Bag make up a big chunk of the infrastructure in Monroe, located about 30 miles south of the Arkansas border. Local schools such as the University of Louisiana at Monroe and Louisiana Delta Community College also give the city a boost. And despite minimal population growth, the area continues to attract new jobs, including 300 service-sector jobs in March.

Other cities included in this report:
1.  Midland, TX
2.  Decatur, AL
4.  Kingsport-Bristol, TN/VA
5.  Victoria, TX
6.  Bryan-College Station, TX
7.  Tuscaloosa, AL
8.  State College, PA
9.  Laredo, TX
10. Lubbock, TX
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Good news is spreading--northeast Louisiana is a good place to live!  People are moving in and moving up. If you plan to move in 2009--across town or across the country--allow me to tell you how I can make it easier. I have been successfully bringing buyers and sellers together for more than 14 years.

Gayle Causey, 318-614-5615
http://GayleCausey.com  or http://WestMonroeRealEstate.com
Keller Williams Realty, Monroe, LA