People are always asking me to tell them about foreclosures in the area. Yes, there are a FEW on the market in Monroe and West Monroe, but no more than any other time in the past several years.
From today's news:
Louisiana moved down to #41 on the May foreclosure ranking list (down 16.36% from April) with a rate of one in every 1,976 housing units receiving a foreclosure filing.The U.S. average is one home out of every 398. Nevada continues to lead the nation with one in every 64. The top 10 states in RealtyTrac's list (Nevada, California, Florida, Arizona, Utah, Michigan, Georgia, Colorado, Idaho, and Ohio) account for nearly 77% of U.S. foreclosure activity.
I know about one nice house in Frenchmen's Bend that is bank-owned. It's priced at $329,800, below market value for a home this size. All the others are in the lower end of the market, well below $100,000.
Buying a bank-owned home is a little more time-consuming that buying from a private homeowner, but it's usually worth the wait. There's one big hurdle, however--the property is sold strictly AS IS. Even if the appliances have been ripped out and the A/C unit has been stolen, the bank will do NO REPAIRS. This stipulation sometimes makes it difficult to get a mortgage because banks want to lend money on houses that are in good condition.
If you would like to know more about the house in Frenchmen's Bend or any other aspect of the market in Monroe, West Monroe, Sterlington or Calhoun, call or email me. I'll be glad to help.
Gayle Causey
318-614-5615
http://GayleCausey.com or http://WestMonroeRealEstate.com
Keller Williams Realty, 1390 Hudson Lane, Monroe, LA 318-812-7653
GRI, ePRO
Direct: 318-614-5615
REALTOR, Relocation Specialist
Find your house with your mouse: http://WestMornoeRealEstate or http://GayleCausey.com
Keller Williams Realty Parishwide Partners
1390 Hudson Lane, Monroe, LA USA 318-812-SOLD
Each office independently owned & operated. We Support Equal Housing Opportunity.
