Gayle's Blog

Rates for SEPT. 5, 2008

• 30-yr. Conv. Fixed          6.0%
  up to 95% of value
• 15-yr Conv. Fixed           5.75%
  up to 95% of value
• FHA/VA 30-yr Fixed         6.0%
• 30-yr Rural Housing        6.5%
  min. loan $47,500
• Rates courtesy of Bankers Mortgage Center, 909 N. 18th Street, Monroe, LA.
  

The 30-yr. Conventional rate has inched DOWN a little today (from 6.125% on Sept. 4), but other rates remain the same.

If you need more information about what is going on the the real estate market in north Louisiana, especially Monroe and West Monroe areas, please call or email me.  I'm here to help.

Gayle Causey
318-614-5615
Keller Williams Realty
1390 Hudson Lane
Monroe, LA USA
http://WestMonroeRealEstate.com

Beautiful 4/3.5 in Lake Village Subd.  $233,900.
Downstairs master bedroom, wood floors, fireplace, view of the lake from
the front porch swing.

OPEN Sunday, 2-4:00

Gayle Causey
318-614-5615
Keller Williams Realty
Monroe, LA USA
See more pics at http://WestMonroeRealEstate.net

The news tells me that Louisiana dodged the bullet with Gustav. I doubt the people in Baton Rouge and many other parts of the state would agree. This was no Katrina, but Gustav definitely brought its own brand of havoc.

Here in north LA, we thought the storm had passed, but we were wrong. We had 9.3 inches of rain in a 24-hr. period Tuesday. More is expected today. The wind is not an issue, but lots of areas are experiencing flooding. In fact, many of my neighbors had water come into their houses last night. I was spared, but I was very nervous!

My friend Nonnie is in a nursing home in West Monroe. They had sandbags in several areas around the building, but water still seeped into many rooms. Residents were moved to dry areas during the night. This is very upsetting for many residents who cling to the familiar surroundings of their little rooms. It will be several days before the carpet can be removed so that they can return to their own spaces. Another nursing home near Glenwood Hospital was evacuated due to flooding.

Unexpected guests continued to arrive last night. 

This alligator was found last night on Brookwood Drive, just off Hwy 165N. Unfortunately, he was shot when he bit one of the officers who was attempting to capture him.

My daughter evacuated to Baton Rouge where she experienced more storm activity than in New Orleans. Like everyone else, she is anxious to get home. The problem is that there is no power in Baton Rouge, so she can't get any gas or supplies to take home with her. In the New Orleans area, lack of power means no groceries and no gas. It's a dillema faced by thousands of people now displaced again. Hopefully it won't be such a long time away from home this time.

Keller Williams Realty is open and doing well! Thankfully, we had no damage and no flooding at our office.  I've heard that another local real estate company just off N. 19th Street had water come inside. I'm not surprised. I stopped by there about 7:30 Tues. evening to pick up some papers. Water was well above my ankles in the parking spots at the front of the building then, but it had not yet gone inside. The streets around that area were all flooded. It's a mess.

Needless to say, most people have been too distracted the past few days to be looking at houses. If your house is on the market, please make sure your yard is the first in the neighborhood to be cleaned up. Buyers will be out again soon!

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

As we all prepare for Gustav, take a little time to do something extra that may help more than you can imagine.  Mr. Jackson's suggestions below are right on.
Gayle Causey
Keller Williams Realty
Monroe, LA USA
http://GayleCausey.com

*******      ********8 

There will be more information coming out in the next few days but I'd like to take this opportunity to request help from each of you on behalf of the Ouachita Parish Police Jury.  By Tuesday and Wednesday, regardless of exactly where Gustav come ashore, Ouachita Parish will likely be on the northeast quadrant of the storm and experience heavy rains and extreme wind.  During the Month of August this area had rainfall in excess of 400% of normal.  The ground is saturated.  We are likely to see localized flooding and problems with trees.    Tomorrow and Monday I would ask that each of you take some time to check any areas around your yards and your immediate neighborhoods.  Please pick up debris in ditches and clear leaves and pine straw away from drains and culverts.  The parish Public Works Dept is trying to do some of this but will absolutely NOT be able to cover every place. While clear drains and ditches won't eliminate all flooding problems they will minimize the issues  And again, please take the opportunity to be civic minded...don't limit yourself to your immediate yard.  Help the entire parish by picking up a bit around a nearby roadside area.  We'll all be better for doing so.   I would also ask that you forward this to others on your email lists that are in Ouachita Parish and encourage them to clear their areas as well as pass it along to others.  We have problems with ditches, culverts and clogged roadside drains in Monroe and West Monroe as well as in the parish.  

Charles Jackson
Ouachita Parish Police Juror
District A
318-355-4260

Can you believe it? Here we go again.

Even though I am 300 miles from the coast in Monroe, LA, the devastation of Katrina was felt here, too. Not so much the weather, but the social impact.  LA has not recovered, and there are thousands of our brothers and sisters still scattered over the US who have shared their personal tragedies with the entire nation.  Please, God, don't let it ever happen again.

My daughter and granddaughter are in Algiers. I hope they are on their way to my open door and loving arms.

Best of luck to all during your "evacuation-vacation!" If you're in the Monroe area and need a place to plug in your laptop or use a phone, don't hesitate to call me.

Gayle Causey
http://WestMonroeRealEstate.com
Keller Williams Realty
Monroe, LA USA

Several agents are out of town this holiday weekend, so I stepped in to show a house today for another agent. The house is in a desirable neighborhood, original owner, 4/2.5 with a salt-water pool. It is very clean and well kept. That's the good part. But, I think the owners are busy watching the golf channel instead of the staging shows on HGTV or TLC!  Not only was there GRASSCLOTH on the walls of the hallway & foyer, there were so many little tables that I was unable to count them all!  There was a table with plants, several with phots, some with books, some with owl statues, some with dog statues, one with dolls--you get my drift.  The house was built about 1980, and all the fixtures were very nice for the day.  Wake up, folks!  It's 2008!!  This house will be so much more appealing when the sellers move out.  Unfortunately, it may be quite a while before they move because it will take longer than the average marketing time to sell a house with such dated decor.

You owe it to your sellers to tell them to get rid of so many things. When you list a property, you begin working as partners to get it sold. The bad thing is that listing expenses come out of YOUR pocket. Advertising, signs, time and manpower used to add to websites are all paid for by the real estate agent. The seller has to pay nothing out of their pocket once the house is listed. You are cheating yourself and doing the seller no favor if you don't tell them what they need to do to make the property more appealing to a larger pool of buyers. Let's face it, there's a limited number of people who are specifically looking for brass chandeliers, wallpaper with little blue and mauve flowers, laminate countertops and vinyl floors in the kitchen.

Check out some of the talented stagers in your area as well as the contributors to Active Rain. You could even forward some of the before/after pictures from the staging bloggers to the seller so they will get good ideas.  I pay a local stager for each one of my listings. This small investment impresses the seller, and it saves me lots of money in the long run.

Gayle Causey
http://WestMonroeRealEstate.com
Keller Williams Realty
Monroe, LA USA

The following article appeared in The News Star online edition on 6/23/08.

As I see it, there are dramatic differences in philosophies of the 2 mayors. I don't think either mayor is wrong; they have different visions for their cities.

Yes, there has been explosive growth in West Monroe, both residential and commercial. But, let's face it. There was plenty of room to grow residential areas and a great need to grow businesses.
 
Monroe had little residential growth 20 years ago, but that has changed. More and more subdivisions are springing up in areas that we thought were built out. That's a good thing!

I wish the bickering about which side of the river is a better place to live would STOP! The quality of life in the Twin Cities is good. We should remember that, and encourage people from all parts of the US to become our neighbors. Let them decide which side of the river is most attractive to their lifestyle. The topography of the area is different as well, and will sometimes have a great impact on one's decision.

If you're looking for a home on either side of the river, please contact me or visit my websites
http://WestMonroeRealEstate.com or http://GayleCausey.com  for information on both communities.

Gayle Causey, 318-614-5615
Keller Williams Realty
Monroe, LA USA

Monroe's Mayo looks to grow while expenses, revenue concern Norris

West Monroe focuses exclusively on commercial growth to generate tax monies and shuns residential annexation because of the expense in public services.

In stark contrast, Monroe actively seeks the annexation of new residential areas to maintain its designation as an entitlement city, which increases the federal population-based funding.

It's just one of many differences in philosophies between the cities.

"It's a business decision," said West Monroe Mayor Dave Norris. "We never pursue anybody for annexation."

West Monroe officials look at two aspects of any commercial or residential annexation request before considering approval to bring the property into the city, Norris said.

Utility reviews are done to determine whether the city can provide a property with water and sewer services, and the impact annexation would have on the city fire insurance rating also is considered.

As far as Norris is concerned, annexing neighborhoods is a drain on city coffers.

"We already try to keep water and sewer and garbage collection fees as low as we can keep them," Norris said. "And when you take in more people, you're adding in cost without adding in enough revenue to cover it.

"Cities also spend money building and maintaining the streets," he said

Unlike West Monroe, Monroe has publicly welcomed annexation of Ouachita Parish neighborhoods.

Monroe's effort to bolster its population began in 2006 when Mayor Jamie Mayo announced an initiative to provide more housing opportunities in the city. Its estimated 2004 population was just above 52,000. If the population drops below 50,000, Monroe stands to lose about $1.3 million in federal community development and housing grants. "If we don't keep that status, we could also lose federal airport monies and transit system monies," Mayo said. "It's an investment to solidify our status as an entitlement city."

Following the 2006 initiative, Monroe annexed the new Belle Pointe subdivision in the River Oaks area that brought dozens of additional homes into the city. However, the planned annexation of a second subdivision in southern Monroe - the Beouf River subdivision, which has 60 occupied homes - never came to fruition.

Problems in annexing a residential subdivision are numerous, according to Monroe Director of Administration David Barnes. Though the city gains some property taxes and revenue from water, sewer and garbage collections, costs include street maintenance and providing fire and police protection.

"It's a two-way sword," Barnes said.

Although Monroe officials conduct a cost-benefit analysis on all proposed residential annexations, they know it's a delicate balance.

"Sure, it's going to be an expense to annex, period," Mayo said. "But you have to weigh which is worse: annexation expense or the chance you take falling below the 50,000 population mark and the amount of entitlement funds and status you lose.

"It's not my goal as mayor to have a city necessarily that's 100,000. But I feel we would be very comfortable with 60,000 population."

By Robbie Evans • revans@thenewsstar.com • June 23, 2008

$105,000!

134 Lisa Lane
West Monroe, LA 71291

Attractive 2BR/2ba, split-level home in good condition.  Smooth top stove, dishwasher, ceramic tile countertops. 2 closets in each roomy bedroom. Approx. 1415 htd. sq.ft. New living room carpet installed May, 2008; central H/AC in 12/2007. Yes, that is a REAL claw-foot tub in the hall bath!

Wonderful deck for relaxing and enjoying the quiet surroundings. Back yard is adjacent to woods. There is a detached 2-car garage with extra storage area.  This is a real bargain at $105,000.

Skylights in dining area allow dinner under the stars every night!

Smooth top stove, dishwasher, ceramic tile countertops.

You can see more pictures at http://WestMonroeRealEstate.com
or call me for a tour.

Gayle Causey
318-614-5615  Gayle@GayleCausey.com
Keller Williams Realty
1390 Hudson Lane, Monroe, LA USA 318-812-7653

With so many people offering their home for sale by owner, everyone needs to know about the Property Disclosure that is REQUIRED BY LAW in the state of Louisiana. If you have just one "AH-HA!" moment, then reading this was worth it.

1. Do I HAVE to fill out a property condition disclosure in LA? YES! Disclosure is required for all residential real estate. There are a few exceptions such as when the property is involved in settling an estate or foreclosure. Disclosures are required even when the home is for sale by owner. 98% of all residential real estate requires the standard form of property disclosure mandated by law.
2.  What should I (as a seller) disclose?  Everything!  If there is a doubt in your mind, disclose it.
3.  What if the property is offered for sale AS-IS?  You still must disclose all you know about the property.
4.  As the buyer, I rec'd a copy of the disclosures. Should I share this with the home inspector?  Absolutely!  More information about the home is valuable to you AND the inspector. He can then verify recent installations, know when something is old and should be checked, or pay particular attention to areas of concern such as an old leak that was repaired.

Buyers, be SURE you have seen the proper disclosures required by law before you make an offer on any property. As your Realtor, I will make sure you know!

If you need more information, don't hesitate to call or email me.

Gayle Causey
318-614-5615
Gayle@GayleCausey.com

For the first time in several years, we are beginning to see the market in Ouachita Parish cool down a bit. When looking at a snapshot of residential sales for the months of April/May, homes have stayed on the market longer in 2008 than in 2007.

2007:
Number homes sold-289
Avg. days on market-108
Listings that Expired (Unsold)-10.43%

2008:
Number homes sold-210
Avg. days on market-129
Listings that Expired (Unsold)-14.50%

What does that mean for you? 

If you are a seller, you MUST price your house competitively the first day it hits the market. You cannot wait to "see what kind of offer we get."  Be ready to sell by having your home in top shape and priced realistically.

If you are a buyer, have your agent study recent sales. You must consider what has sold in the neighborhood in the past few months. You may be able to get a bargain, but don't count on it. Look at the sale vs. list prices to see what a reasonable offer would be. Don't insult a seller by offering $30,000 less than the asking price on a $150,000 house!

I study the market every day. If you need help understanding what is going on in the Monroe/West Monroe market, call, text or email me. I'm here to help.

Gayle Causey
318-614-5615
Gayle@GayleCausey.com
Keller Williams Realty
Monroe, LA 71201 USA